Wednesday Evening Opinions @ 7:18 PM CST - 12/05/2021

[ronscarpa]

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... RON 

 

 

*** Pimpy   Man there sure is a lot of talk about exchange rate changes...you can tell they're really looking into a serious rate change.  They have studies going on and I know it says a study at 1200 dinars but really do you have to put together a whole entire committee just to check out 1200 dinars?  For the past couple months in the news religiously have been talk about the exchange rate.  Will something happen in 2021?  It's possible.          

 

*** BobTheTaxMan ...Taxes...it's the biggest hole in your financial ship.  Let's just say if you just got a little bit of IQD...make sure that you're going to be lessening your immediate taxes.  Only cash in enough to meet what your goals are...It's all going to be dependent upon what the value is going to be.  You want to reduce those income and capital gains taxes.  A suggestion might be if one of your goals was to buy a house..[Post 1 of 2]

***  BobTheTaxMan ...instead of cashing in all that IQD and then paying that 40% taxation (not counting what the state's going to assess)...cash in a smaller amount, enough for a down payment and then borrow the money on that house.  You're further ahead in the long run to do it that way than to expose yourself to an immediate huge tax bill.  On the day you do this, pay your taxes - federal and state.  Get them out of the way because they will assess interest and penalties if you don't pay in a timely manner. [Post 2 of 2]  [NOTE:  Consult your tax professionals at the appropriate time to determine the best exchange strategies for your unique goals and circumstances.]

 

 

Edited December 16, 2021 by ronscarpa

[ronscarpa]

Added @ 8:15 PM CST:

 

 

*** Frank26  Article: "The Central Bank:  The Cash reserve increased to 62 Billion dollar"  Quote "...which makes it able to influence exchange rates and to prove a comfortably sable economic environment." If we were to translate that into simple English all it says is we're raising the value of our currency and we're bringing out a new currency to match that value.  This is great news!  This is what we wanted to hear.  It's no secret.  Everybody know Iraq is lifting the value of its currency and going through the process.  No body knows when but it looks like it's pretty darn close...   

 

[goldwinger57]

It's been close for my past 12 plus years Prank