Friday Night Opinions @ 9:40 PM CDT - 2/29/2024

[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... So, take everything with a grain of salt ...  RON 

 

 

Pimpy  Today easily has got to be one of the best days of news for Iraq I've seen in a long time.  They have been busting their asses to get their country in line to get back out and do business on the international market...One great article after another...

 

MarkZ  I have one source close to the WTO that thinks it will be mid March for the actual ascension…It is clear it is now inevitable they are heading this direction.

 

Harlequinc3  Question: "I don't have any receipts of currency i bought 14 years ago...is that a problem to exchange it when the event happens?" Only in the event of an audit for taxation. The bank won't care in the slightest when and where you got your dinar -- as long as it's valid currency. All the receipt proves is WHEN you bought your dinar -- which only matters to entities like the IRS, because the tax bracket for capital gains changes depending on how LONG you've had the asset. [NOTE: Some feel the exchange will be capital gains, others personal income, other not taxed at all. The only opinion that matters is the IRS's - At the appropriate time consult your tax advisor to determine the right tax for your unique circumstances.]

 

Clare  Article Quote: "Parliamentary agreement with the European Union mission: European financial and banking institutions are preparing to invest in Iraq"

 

Frank26  [Iraq boots-on-the-ground report] FIREFLY: TV showing half a billion dinar recovered from a corrupt banking judiciary officer. FRANK: It just don't stop! Good gosh almighty everybody steals out there.

 

 

[MommaMia]

Capital Gains. Check it out with Forex folks that deal in currencies . No different than the stock market. 

[Luigi1]

8 hours ago, MommaMia said:

Capital Gains. Check it out with Forex folks that deal in currencies . No different than the stock market. 

 

Capital gains can be taxed at up to 80%.

This is why the sudden urgency to rewrite the tax codes.

The tax & spend administration never sleeps.