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Wednesday Afternoon Opinions @ 5:46 PM CST - 3/01/2023

ronscarpa

By ronscarpa,
in Dinar Rumors

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ronscarpa Grand Master

ronscarpa

Posted
Posted

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... So, take everything with a grain of salt .... :twothumbs: RON 

 

 

BobTheTaxMan   Let's take an example...somebody purchased it [Iraqi dinar] for a thousand bucks. The projected value would increase to $1,000,000. This particular investment type is treated as ordinary income. They decide to cash it all in at once. Here's the result: They have a taxable event. They lost 37% to the feds and 13% to the state. (That's before the "Green Book" is applied.) That leaves them with half... $500,000...to be able to invest. Everything that comes off that investment...is taxed again. [NOTE: Consult your financial and tax advisors at the appropriate time to build the tax and exchange plan best for your unique circumstances.]

 

Frank26  There are 2 types of exchanges. There are those that have less than a million, they'll probably cash everything out and then there are those that have many millions. You got to know when to hold them, you have to know when to fold them...Really Frankie, no kiddin'..!

 

Pimpy  Article: "Iraq's foreign currency reserves hit $115 billion high" This article caught my attention...the amount of reserves they have...it's 5x the amount of their external debt.  We know they have $115 billion in foreign reserves...they're saying if this was converted into Iraqi dinars it is approximately 150% of the amount of currency that's there...They have approximately $8.4 billion in gold assets.  If you add the two together - $124 billion...it comes out to an exchange rate of approximately $1.61...that's not counting all the other assets like oil and deposits and everything else. The exchange rate...way undervalued...

 

Militia Man  Muhammad Saleh...says their reserves are $115 billion which is up from the $90's. They also increased their gold reserves from about 96 tons to 132 tons...It's really truly amazing ...by him saying we have about 5x what we need in foreign reserves...to me that means they're going to be able to support the value of their currency because they have such a huge amount of reserves and gold and money coming in from abroad. I think they're bringing this up today is because it's going to give support to the investors to know they have the ability to...defend the currency value.

 

 

:tiphat:

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Hotcurl Mentor

Hotcurl

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1 hour ago, ronscarpa said:

.it comes out to an exchange rate of approximately $1.61

 

$1.61, that works for me !!

 

I'm all in and out with that rate ...................

 

Just sayin' ...................

 

Thanks Ron 

 

RV there yet ? :pirateship:

Semper Fi:salute:

 

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MommaMia Proficient

MommaMia

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So if we are blessed with and RV will they have a time limit on cashing in our IDQ? This could be crucial if only a short window is allowed. Taxes could become a real issue for those who live in States that tax your income too. Only 9 states I know of that don’t tax income.

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screwball Grand Master

screwball

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1 hour ago, MommaMia said:

So if we are blessed with and RV will they have a time limit on cashing in our IDQ? This could be crucial if only a short window is allowed. Taxes could become a real issue for those who live in States that tax your income too. Only 9 states I know of that don’t tax income.

Maybe you cash in in those 9 states and open new account take rest In cash and buy gold and silver 

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MommaMia Proficient

MommaMia

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3 minutes ago, screwball said:

Or open an account now in one those states deposit min fee to keep account open if any and be ready…


Very interesting thought, will have get a mailing address within the state in order to establish residence in that state. I have a friend who did that in Florida registered his motor home etc.  there to avoid high license fees and taxes in Nebr. he finally moved there. Had a friend in Texas who talked me into buy IDQ 15 years ago. Could of used his address but he passed away in 2020. I lol figure something out. Thanks.

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ronscarpa Grand Master

ronscarpa

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Gotta love Pimpy's conclusions. From ultra-conservative to realistically hopeful..!

 

Pimpy  Article: "Iraq's foreign currency reserves hit $115 billion high" This article caught my attention...the amount of reserves they have...it's 5x the amount of their external debt.  We know they have $115 billion in foreign reserves...they're saying if this was converted into Iraqi dinars it is approximately 150% of the amount of currency that's there...They have approximately $8.4 billion in gold assets.  If you add the two together - $124 billion...it comes out to an exchange rate of approximately $1.61...that's not counting all the other assets like oil and deposits and everything else. The exchange rate...way undervalued..

 

I really like his $1.61 as a potential starting point..! RON 

 

:tiphat:

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yendor Proficient

yendor

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We've been hashing these "rates" now for almost two decades and nothing has materialized. I don't put any trust in these dreamers. I will just wait to see if it will really hsppen and avoid the dissappointment of another false proclamation of an inamate RV/RI. JMHO.

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cutter73 Grand Master

cutter73

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15 hours ago, MommaMia said:

So if we are blessed with and RV will they have a time limit on cashing in our IDQ? This could be crucial if only a short window is allowed. Taxes could become a real issue for those who live in States that tax your income too. Only 9 states I know of that don’t tax income.

So.. do I need to go ahead and start my new address/state...LOL😉 geeze...it has Indiana as 3.23%  for capital gains...  

NEVER EVER did I think I'd have to say; hey mother...since you're in Florida...🙄

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MommaMia Proficient

MommaMia

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If the claim is true and the RV would be classified as income you will not be subject to capital gains, which might be better if it was. Long term investments come under lower gains tax , this 15% Feds which I am not sure since I am no tax guru. Just heard that from a friend who sold some stock that fall under long term investment. Who knows what Biden and idiots might do to that. Guess I will be heading south to check out some banks etc. 👍😁💵💵💵💵💵💵💵💵🇺🇸

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screwball Grand Master

screwball

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7 hours ago, cutter73 said:

So.. do I need to go ahead and start my new address/state...LOL😉 geeze...it has Indiana as 3.23%  for capital gains...  

NEVER EVER did I think I'd have to say; hey mother...since you're in Florida...🙄

what ever you have to do reduce taxes is a must...the rich do it so why not us...

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screwball Grand Master

screwball

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7 hours ago, MommaMia said:

If the claim is true and the RV would be classified as income you will not be subject to capital gains, which might be better if it was. Long term investments come under lower gains tax , this 15% Feds which I am not sure since I am no tax guru. Just heard that from a friend who sold some stock that fall under long term investment. Who knows what Biden and idiots might do to that. Guess I will be heading south to check out some banks etc. 👍😁💵💵💵💵💵💵💵💵🇺🇸

do you really want to donate to the tax man if you dont have too? I wont be!

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