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Danimal

By Danimal,
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MJaz Newbie

MJaz

Posted
Posted

First off Adam I want to thank you for all the work and intel you give us. My question is about the Dinar when we cash in. Do you think that the large banks will accept the Dinar as payment for house Morgages and car loans? If so do you think it be Taxable since you would be paying a bill? I was just thinking about this and wondering if you could give some insight. It would be nice to payoff some large bills before taxes.

Thank You.

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super Newbie

super

Posted
Posted

Not a question, just a statement for,

Adam M., the news you bring is not disappointing to me, in fact you give stability to what I already know. There is so many points the rumors are confusing or shall I say that people are confusing, we know, just don't add up and all they want is someone to blame when those rumors don't pan out. So I think you are doing the right thing by holding back and I for one appreciate the truth. I'd rather hear "the 12th of never" if it's the truth then tomorrow, or the next day and so on. I know the rate of the dinar is going up and I am good with that. Thanks for all of the hard work you've put into this site, you've done a great job. :)

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teeitup72 Newbie

teeitup72

Posted
Posted
First off Adam I want to thank you for all the work and intel you give us. My question is about the Dinar when we cash in. Do you think that the large banks will accept the Dinar as payment for house Morgages and car loans? If so do you think it be Taxable since you would be paying a bill? I was just thinking about this and wondering if you could give some insight. It would be nice to payoff some large bills before taxes.

Thank You.

Adam has said he is not a financial advisor. I wouldn't be asking a guy on a forum about something as substantial as this kind of a thing. Just a comment not bashing.

I am a CPA and attorney. This would not be a viable option. You would still need to pay taxes on your realized gain before paying off your debt.

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dinarhound Newbie

dinarhound

Posted
Posted
Adam has said he is not a financial advisor. I wouldn't be asking a guy on a forum about something as substantial as this kind of a thing. Just a comment not bashing.

I am a CPA and attorney. This would not be a viable option. You would still need to pay taxes on your realized gain before paying off your debt.

what state are you in and are you up on all the laws and taxes when the Rv Happens, and will you be available for hire, or will you retire?:D

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teeitup72 Newbie

teeitup72

Posted
Posted
what state are you in and are you up on all the laws and taxes when the Rv Happens, and will you be available for hire, or will you retire?:D

I am in AZ. I don't even do my own taxes when it comes to these things. When I made money on the Kuwaiti D. I had my brother do this for me. He focuses more on tax law. He will not be for hire either. He doesn't take new clients. I will most likely not retire. I may open my own practice but not retire. Sorry.....

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123uandme Newbie

123uandme

Posted
Posted

teeitup72, in your (and your brothers) opinions what type of professional should we hire to handle this situation when it matures? Tax Attorney? CPA? Etc. I live in NY state and am just curious if you might be able to point us in the most advantageous direction. Thanks for the assistance...

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teeitup72 Newbie

teeitup72

Posted
Posted
teeitup72, in your (and your brothers) opinions what type of professional should we hire to handle this situation when it matures? Tax Attorney? CPA? Etc. I live in NY state and am just curious if you might be able to point us in the most advantageous direction. Thanks for the assistance...

Tax Attorney for sure. I would suggest to look for someone that might have experience with currency exchange for sure. Also after the revalue a CPA is important and a financial advisor if you feel like you want to have help with that side of things.

I am not going to tell anyone what to do but if you do some things a head of the RV you can help greatly with your tax resposibilities.

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klosecall Newbie

klosecall

Posted
Posted

I have been unable to find answer to this question anywhere. ...like it is being avoided..but ill try again. ...there are trillions of Dinars outside of Iraq alone, so when rv happens, where will the quadrillions of dollars come from? Seems impossible, unless rv comes in form of lop(which is how 90% of countries revalue) or just an in country rv

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Danneedsrvnow Newbie

Danneedsrvnow

Posted
Posted

I have been following the Dinar investment for some time now. I too have invested in the currency. I have done a bit a researching & I have never come across an article that actually says that Iraq plans to quickly revalue their currency....Is there an article/articles? I have however read many articles that are claiming that Iraq never had any intentions on quickly rv'ing the currency. What these article are implying is that the currency will increase in value (which it has been) over the years....hence my use of the term quick revalue. I am not saying it won't revalue quickly....just that I want to see an article that states that is the plan.

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GJM Newbie

GJM

Posted
Posted

Hi Adam, After establishing a Warka Account - To fund a Warka Account - I should wire say $500 to the newly established account #. Will Warka then automatically exchange the amount over the $150 to IQDs to meet the 300,000 IQD requirement or do I need to specify with wire? Appreciate your assistance. GJM

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Peter Newbie

Peter

Posted
Posted (edited)

Hey Adam...quick question, after the RV happens, I've heard that they will phase out the large 25K dinar bills. Rumor has it 60-90 days after the RV.

My question is, if I hold 10 million dinar in 25K notes and after RV I only cash in 5 million dinar leaving the rest for future dinar rate increases, do I have to cash in the remaining 5 million dinar because they are in 25K bills which will no longer exist by the time I decide to cash out a few years down the road?

Will I be forced to cash in the remaining 5 million dinar in 25K bills or will I be able to exchange them for smaller 5 or 10 notes?

They will be worthless after the mandatory turn in date expires/ Thats why he suggests to open a warka acct..

Danimal

Edited by Danimal
answer q
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Lepoc2635 Newbie

Lepoc2635

Posted
Posted
I have been unable to find answer to this question anywhere. ...like it is being avoided..but ill try again. ...there are trillions of Dinars outside of Iraq alone, so when rv happens, where will the quadrillions of dollars come from? Seems impossible, unless rv comes in form of lop(which is how 90% of countries revalue) or just an in country rv

I'm with you... I'd love to hear about a huge RV just as much as everyone else, but this is the issue that makes me believe it will never happen. I'd like to hear someone with more knowledge than me speak to this. Thanks.

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joellos Newbie

joellos

Posted
Posted
I have been unable to find answer to this question anywhere. ...like it is being avoided..but ill try again. ...there are trillions of Dinars outside of Iraq alone, so when rv happens, where will the quadrillions of dollars come from? Seems impossible, unless rv comes in form of lop(which is how 90% of countries revalue) or just an in country rv

This is only my opinion mind you, but it might help with your research. The Dinars outside of Iraqi will be backed by Iraq's own resources and also will probably be backed by the USA and other countries, or entities that have a vested interest in guaranteeing the value of the currency. Just a thought...

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  • 2 weeks later...
Dfrog Newbie

Dfrog

Posted
Posted
Teeitup, on night you were on chat and claimed to be the a VP with BoA...I recall chatting with you and asking you questions regarding IQD information. You claimed to be in CA at that time.

Anyone can be anybody they want here in the magical world of the internet!

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