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UST & Iraq Banks Are Talking On How To Exchange Our IQD.


Luigi1
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Luigi found these articles of Dinarian interests...

UST & Iraq banks are openly disseminating IQD exchange changing information.

Treat as rumors. Not verified. Your opine.

 

 

2-24-2021   Intel Guru Frank26 

...the United States Treasury met with a limited amount of people to disseminate some information on how and where to exchange your Iraqi dinars...It's not known how it's going to roll out but the information will come to the dinar community as needed because right now it's going to the citizens of Iraq...for us citizens of the United States of America it's possible an 800# is coming...this so-called 800 number is not for one bank.  That's so stupid.  The 800 number, as of 1st hand information, is not as it's being exaggerated

 

2-24-2021   Newshound/Intel Guru Walkingstick and Frank26

 ...Iraqi bank teams (exchange departments of banks) are about to meet with those who are going to talk to them about the exchange rate changing.  That's pretty powerful.  This week that's when we think this is going to occur.  The CBI will inform these banks a lot more on the date they gave them on which to raise the value of the currency.  And more communication on how these CBI banks will deal with the citizens of Iraq - the new small category notes.  The ATM machines.  Opening new accounts.  The new exchange rate, explaining it. All that stuff.

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Weegee, let's for the sake of discussion suppose this could be true. Any chance that for a US person to cash in dinar we'd have to go through some concocted program so the US govt gets its pound of tax dollar flesh? That to cash-in off-shore to control how much taxes we have to pay and when, becomes obsolete. And before anyone says never gonna happen, lots that is not legal continues to occur at the highest govt level. Why not this absurd thought too about trying to cash in and control?

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58 minutes ago, Sage449 said:

Weegee, let's for the sake of discussion suppose this could be true. Any chance that for a US person to cash in dinar we'd have to go through some concocted program so the US govt gets its pound of tax dollar flesh? That to cash-in off-shore to control how much taxes we have to pay and when, becomes obsolete. And before anyone says never gonna happen, lots that is not legal continues to occur at the highest govt level. Why not this absurd thought too about trying to cash in and control?

Well... if there is one thing we all learned in the last 12mths, its that ANYTHING can happen! 👍

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11 hours ago, Sage449 said:

Weegee, let's for the sake of discussion suppose this could be true. Any chance that for a US person to cash in dinar we'd have to go through some concocted program so the US govt gets its pound of tax dollar flesh? That to cash-in off-shore to control how much taxes we have to pay and when, becomes obsolete. And before anyone says never gonna happen, lots that is not legal continues to occur at the highest govt level. Why not this absurd thought too about trying to cash in and control?

 

First of all...the Gurus are lying to us all by claiming this will be a tax free event. The taxes will not be built in to the exchange rate. The Feds will not take the taxes off the top at exchange. It's our responsibility to set 40% aside for our taxes. This will be treated like a capital gains & taxed accordingly. Uncle Sam will get his cut. That's a guarantee. We will be in the highest taxed bracket meaning the tax rate will be around 40%. Don't forget...all interests & dividends you make by putting your money to work will also be capital gains. I already talked to several financial planners & that's somewhat how it's going down. Get your own advice rather than relying on someone else's word. After taxes, protect your money.

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15 minutes ago, Luigi1 said:

 

First of all...the Gurus are lying to us all by claiming this will be a tax free event. The taxes will not be built in to the exchange rate. The Feds will not take the taxes off the top at exchange. It's our responsibility to set 40% aside for our taxes. This will be treated like a capital gains & taxed accordingly. Uncle Sam will get his cut. That's a guarantee. We will be in the highest taxed bracket meaning the tax rate will be around 40%. Don't forget...all interests & dividends you make by putting your money to work will also be capital gains. I already talked to several financial planners & that's somewhat how it's going down. Get your own advice rather than relying on someone else's word. After taxes, protect your money.

Anything can happen.. If the Federal Reserve was merged with the US Treasury making the IRS non existent, we very well could see our profits not taxed. Our income taxes were unconstitutional and if we are going back to a true republic based on constitutional law we very well could see this happen.

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19 minutes ago, Luigi1 said:

 

First of all...the Gurus are lying to us all by claiming this will be a tax free event. The taxes will not be built in to the exchange rate. The Feds will not take the taxes off the top at exchange. It's our responsibility to set 40% aside for our taxes. This will be treated like a capital gains & taxed accordingly. Uncle Sam will get his cut. That's a guarantee. We will be in the highest taxed bracket meaning the tax rate will be around 40%. Don't forget...all interests & dividends you make by putting your money to work will also be capital gains. I already talked to several financial planners & that's somewhat how it's going down. Get your own advice rather than relying on someone else's word. After taxes, protect your money.

Until it's clearly verified, I'd still recommend putting 40% to the side.

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1 hour ago, Longtimelurker said:

Anything can happen.. If the Federal Reserve was merged with the US Treasury making the IRS non existent, we very well could see our profits not taxed. Our income taxes were unconstitutional and if we are going back to a true republic based on constitutional law we very well could see this happen.

 

Maybe under Trump that would had been possible. Under the Dems, the Party of tax & spend, we can forget about any notions of any tax free event. IMO.

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here's an update related to the above articles & rumors...perhaps no longer a rumor?

 

Finance Minister chairs a meeting on “changing the exchange rate”    2021-02-24

Finance Minister chairs a meeting on changing the exchange rateToday, Wednesday, the Minister of Finance, Ali Abdul Amir Allawi, chaired an expanded meeting to discuss the goals achieved by changing the currency exchange rate.

The ministry said in a statement, that “during the meeting, a review and discussion of the positive effects of changing the exchange rate of the dinar against the dollar and the impact of that step on rebalancing the Iraqi economic reality burdened with challenges and obstacles and protecting it from the risks of collapse, in addition to discussing mechanisms to change the investment environment and support the private sector.” Assigning industry and agriculture in line with corrective measures for the course of the national economy. ”

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Thanks Weegee, certainly never would I look to the gooroos for tax advice. I was speculating on whether or not all the planning Adam has done for us could be kaboched by the new regime. 40% ouch, was hoping for less but you're right Trump is gone for the moment. Hope springs eternal. 

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