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Monday Morning Opinions @ 11:35 AM CST - 9/06/2021


ronscarpa
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Remember, no one really  knows what will happen, or when. They're simply stating their opinions based on what they perceive to be happening in Iraq. :twothumbs:RON 

 

 

*** Breitling  I still expect the dinar to come out between .50 and .60 cents.  I still fully expect from what Iraq is saying that when they lowered the value of their currency to pay back bills...the end of October the beginning of November they are going to have a meeting to see where they're at...that's my rate and that's my window...:twothumbs:

 

*** Pimpy  Article: "Economy News publishes details of signing the agreement with France's Total".  This is a good opportunity. Building more relationships internationally, more jobs.  I really like what's going on.  I think over the last 6 months for sure Al-Kazemi has really stepped up to the plate...the stronger the economy becomes the stronger the currency becomes.  That's a big part of it.

 

*** Mnt Goat  Article: "3 DECADES AFTER THE INVASION, IRAQ IS CLOSE TO TURNING THE PAGE ON KUWAIT’S COMPENSATIONQuote:  “Deduction of 3% of each barrel exported abroad as compensation for the Kuwait war will end next year.”  This wording is weird. 2021 not 2022 is their last year to pay complete these payments, so yes it will end in Jan 2022. Oops that date popped up again…WOW..!  We have waited for this to end. This will end these sanctions against the Iraq oil revenues and free up this money. :twothumbs:

 

 

:tiphat:

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I have been thinking and not sure of a solution.....

 

Let's say that you hold 3 million IQD and they revalue at $0.50 with a cash-in window of 30 days. So you cash in and have $1.5 millionand purchase $1million worth of the new IQD . Since you are basically just shifting the old IQD to the new IQD can I assume that you have to pay the taxes on just the half million dollars or do you pay the tax on the whole million and a half since you are just rolling one million dollars of it over? This is a really impoertant question for me because if you have to pay taxes on the whole million and a half, you wouldn't be able to buy near the amount and then when you cash in at a higher rate down the road, you will have to pay taes again. 

 

If the latter is true, then it wouldn't pay to re-invest'

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Me myself and I,like Breitling, he seems to do a good job of answering questions and follow the news out of Iraq! I have somewhat kept up with him in the early stages of this investment. I could be wrong, but I don’t remember him ever having a specific date on a possible RV. He is very conservative about getting excited. Me personally I have hitched my wagon to Adam, now if Adam gives  a window, I will be excited about his opinion. So far there has only been one guy right about this investment! I have not heard anything from him in 7 years! JMHO 🤠

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4 minutes ago, Artitech said:

Me myself and I,like Breitling, he seems to do a good job of answering questions and follow the news out of Iraq! I have somewhat kept up with him in the early stages of this investment. I could be wrong, but I don’t remember him ever having a specific date on a possible RV. He is very conservative about getting excited. Me personally I have hitched my wagon to Adam, now if Adam gives  a window, I will be excited about his opinion. So far there has only been one guy right about this investment! I have not heard anything from him in 7 years! JMHO 🤠

Artitech have you heard anything from your friend thats in the sandbox over there?

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59 minutes ago, yendor said:

I have been thinking and not sure of a solution.....

 

Let's say that you hold 3 million IQD and they revalue at $0.50 with a cash-in window of 30 days. So you cash in and have $1.5 millionand purchase $1million worth of the new IQD . Since you are basically just shifting the old IQD to the new IQD can I assume that you have to pay the taxes on just the half million dollars or do you pay the tax on the whole million and a half since you are just rolling one million dollars of it over? This is a really impoertant question for me because if you have to pay taxes on the whole million and a half, you wouldn't be able to buy near the amount and then when you cash in at a higher rate down the road, you will have to pay taes again. 

 

If the latter is true, then it wouldn't pay to re-invest'

You won’t be able to buy any of the new lower denoms they will be for in country only for quite sometime and there will be no large notes either to buy anywhere. 

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1 hour ago, yendor said:

I have been thinking and not sure of a solution.....

 

Let's say that you hold 3 million IQD and they revalue at $0.50 with a cash-in window of 30 days. So you cash in and have $1.5 millionand purchase $1million worth of the new IQD . Since you are basically just shifting the old IQD to the new IQD can I assume that you have to pay the taxes on just the half million dollars or do you pay the tax on the whole million and a half since you are just rolling one million dollars of it over? This is a really impoertant question for me because if you have to pay taxes on the whole million and a half, you wouldn't be able to buy near the amount and then when you cash in at a higher rate down the road, you will have to pay taes again. 

 

If the latter is true, then it wouldn't pay to re-invest'

I will take whatever I can get and be done. 

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13 hours ago, yendor said:

I have been thinking and not sure of a solution.....

 

Let's say that you hold 3 million IQD and they revalue at $0.50 with a cash-in window of 30 days. So you cash in and have $1.5 millionand purchase $1million worth of the new IQD . Since you are basically just shifting the old IQD to the new IQD can I assume that you have to pay the taxes on just the half million dollars or do you pay the tax on the whole million and a half since you are just rolling one million dollars of it over? This is a really impoertant question for me because if you have to pay taxes on the whole million and a half, you wouldn't be able to buy near the amount and then when you cash in at a higher rate down the road, you will have to pay taes again. 

 

If the latter is true, then it wouldn't pay to re-invest'

According to Jim George, your taxes will be due at the next "estimated Quarterly" tax date regardless of when you cash it in. So if he is correct, you will need to pay taxes on the profit (even if you haven't exchanged) at the next estimated Quarterly tax date.

 

I'm not saying I agree or disagree with this as I do not know.

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46 minutes ago, Longtimelurker said:

According to Jim George, your taxes will be due at the next "estimated Quarterly" tax date regardless of when you cash it in. So if he is correct, you will need to pay taxes on the profit (even if you haven't exchanged) at the next estimated Quarterly tax date.

 

I'm not saying I agree or disagree with this as I do not know.

Why quarterly? Unless you have set up a business. Personal taxes are due yearly. Can someone clarify.

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48 minutes ago, Monkndad said:

Why quarterly? Unless you have set up a business. Personal taxes are due yearly. Can someone clarify.

You can pay yearly, I do. But there are advantages to paying quarterly. One being you are not looking at a big nut to crack in your October surprise!!! JMHO 🤠

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1 hour ago, Longtimelurker said:

you will need to pay taxes on the profit (even if you haven't exchanged)

That’s way it’s done here in Ontario 

they estimate based on last years numbers

 

so if I make 500,000 last year

many times they estimate this year at same

 

If I only make 200,000 this year

i get credit back on the over taxes of 300

 

but if I show that guarantee I am getting a audit again

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2 minutes ago, davis411 said:

That’s way it’s done here in Ontario 

they estimate based on last years numbers

 

so if I make 500,000 last year

many times they estimate this year at same

 

If I only make 200,000 this year

i get credit back on the over taxes of 300

 

but if I show that guarantee I am getting a audit again

When I paid me personal taxes I never paid quarterly. I would put the extra in an interest savings account. The extra from the interest would help pay taxes the following year. Hopefully when we all get rich from the dinar we will have a great accountant to help us avoid huge taxes.

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1 hour ago, davis411 said:

That’s way it’s done here in Ontario 

they estimate based on last years numbers

 

so if I make 500,000 last year

many times they estimate this year at same

 

If I only make 200,000 this year

i get credit back on the over taxes of 300

 

but if I show that guarantee I am getting a audit again

Same here in the U.S👍

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Feeling very hopeful this year!   Iraq is settling down, oil prices are up, debt to Kuwait is pretty much done, the Kurds seem to be happy with Bagdad right now, at least it seems like that, so I am really feeling it this year!  

 

Go RV or RI .... :bravo:

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