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Scooter 9/18 at 1:16 AM PST

svanish

By svanish,
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svanish Newbie

svanish

Posted
Posted

12:23 AM [keepmwlknfny] Scooter Scooter so you read that one guys post about why its been delayed? i saw you commented on it...i take it you liked what he had to say?

12:23 AM [scooter] I thought it was a great comment

12:24 AM [scooter] I did like it

12:24 AM [keepmwlknfny] Scooter Scooter Scooter does it sound feasible and somewhat logical to you??

12:24 AM [scooter] Anything is possible

12:24 AM [scooter] but I like the fact that it was well thought out

12:25 AM [scooter] plausible

12:25 AM [keepmwlknfny] reading what he said and then seeing his credentials def made me smile a bit....he was talking as if this was guaranteed and in the bag its just a matter of WHEN.....

12:25 AM [scooter] and it's a different look at the data which I think we all benefit from

12:25 AM [scooter] when we see different ideas

12:25 AM [scooter] his ideas are very very very plausible and real

12:25 AM [scooter] just my two cents

12:26 AM [Scooby Doo] I agreed with everything except the political stuff

12:26 AM [scooter] I'm would like to see more of what he has to say

12:26 AM [Scooby Doo] I just don't see how the RV will influence the election in Nov

12:26 AM [scooter] Scooby Doo you mean the election part

12:26 AM [Scooby Doo] right

12:27 AM [scooter] I'm thinking

12:27 AM [scooter] Im not as quick as you

2:27 AM [scooter] it's is a short period of time

12:27 AM [scooter] that's just it

12:28 AM [scooter] what political advantage is gained by waiting that long

12:28 AM [Nelson0528] I can't see any hope that the World ocurrences will have much iompact on the elections here in the US. People are only concerned with what is going on, and what they see with regard to what O is doing about it.

12:28 AM [scooter] it is interesting however

12:28 AM [scooter] unless

12:28 AM [scooter] there was a certain tax bill

12:28 AM [scooter] not sure

12:28 AM [Nelson0528] uh going on here I mean

12:28 AM [scooter] must think that one through Scooby Doo

12:28 AM [keepmwlknfny] Scooter Scooter Scooter i also read something that gave me more hope even if they did come out with a new currency.....just because when this dinar we have now was introduced, they let the people exchange 1 for 1....and kuwait did the same exact thing and all electronic accounts were automatically updated...

12:29 AM [Scooby Doo] I think the idea is that the windfall from the RV will be used to pay down the debt

12:29 AM [keepmwlknfny] almost like a modified RD

12:29 AM [Scooby Doo] But voters don't vote on that issue

12:29 AM [Nelson0528] And, I do not think that the Iraqi politicians give a rats patoot about what is going on here in the US elections. Our mission with them has not changed one bit from the beginning, except for the unexpected surge required to squelch the insurgency....

12:29 AM [Scooby Doo] They are more concerned about unemployment

12:30 AM [scooter] Scooby Doo -- I know --- plus Americans here at home and their attention span is focused on Iraq as their primary problem

12:30 AM [frankc] Scooby Doo Don't understand windfall either. They will get so much tax dollars from us anyway. Why be greedy????

12:30 AM [scooter] Exactly

12:31 AM [scooter] Nelson0528 Good Point

12:31 AM [Nelson0528] I doubt there is much political influence going on other than gettiong them to seat a government right now.

12:31 AM [frankc] Scooter Will the gov't intent to be to tax all our profits away? Why do that?

12:31 AM [scooter] keepmwlknfny I know ---- the kuwait example is gives me alot of reassurances tooo

12:32 AM [Nelson0528] WEll, I don't theink the Iraqi's are going to pull a fast one. THey have to live with the decisions they make and they need the Global Community to support them while they get back on there feet.

12:32 AM [scooter] frankc I don't know -- with this administration and their decisions of late ---- who knows

12:33 AM [frankc] I have not heard one word in the press about this. I don't know whether to be concerned about that or not. I agree the BO admin is after every dollar.

12:33 AM [scooter] I'm not particularly a big fan of taking 12 Trillion out of the private sector and pushing to a government that produces nothing

12:33 AM [Nelson0528] I thinkn they will RV at a reasonable, sustainable rate. Whatever that may be. And yes, it might included a L0P.

12:33 AM [scooter] there's no regeneration of the USD

12:34 AM [Nelson0528] TAxes are taxes, always had em, probably always will.

12:34 AM [scooter] Talking about the O administration and what has occurred

12:34 AM [keepmwlknfny] Scooter Scooter cause thats all im worried about at this point is how they will handle the introduction of the lower denoms....either letting both exist which is the one thing they have consistantly said and raising the value so we can just exchange for US dollars(which is also different from the normal BAD redenomination) or if they will make us exchange and give us a 1 to 1 trade for the new without raising the actual exchange rate.....

12:34 AM [frankc] I don't mind normal taxes. Just don't want to be targeted.

12:35 AM [Nelson0528] Yes, and we need the Bush incentives extended. Or we can all just crookedly move our business off shore and tell em to come get us.

12:37 AM [scooter] keepmwlknfny I'm not worried about the smaller denoms -- bring them on

12:37 AM [scooter] the faster they do that

12:37 AM [scooter] the faster the value goes up

12:37 AM [scooter] not down

12:37 AM [frankc] agreed

12:37 AM [scooter] the notes you have will be honored just like a $1000 bill is today

12:37 AM [scooter] if you had a $1000 USD

12:37 AM [scooter] couldn't you cash it out at BofA

12:37 AM [Nelson0528] I don't think you will have to worry about your notes becoming worthless. The worst case scenario is you get the IQD on the market at the current rate. Probably not going to happen because it's value is artificaially depressed. Or best case, is you get a $3+ RV. REality will be somewhere in the middle, sensibly tending towards the fiscally conservative side.

12:38 AM [scooter] besides -- they already have a plan for the larger notes and it's been occuring over the past 90 days

12:38 AM [keepmwlknfny] Scooter Scooter yea that is true....thats what i mean with the new currency...i doubt they have printed new bills that are the same amounts we have now.....

12:38 AM [Scooby Doo] you mean there won't be a $13 RV?

12:38 AM [scooter] The majority of those notes are in country too ---- they don't care about our 25 k notes

12:38 AM [svanish] I just saw a 1000 bill at the Gold and Silver Pawnstar it was fetching 6700 dollars

12:38 AM [scooter] we are so small of a nut in this

12:39 AM [keepmwlknfny] Scooter Scooter whats the plan for the larger notes thats been going on???

12:39 AM [scooter] one grain of sand on the beach

12:39 AM [Nelson0528] Wow!

12:39 AM [sheree] Scooter I was thinking about the larger bills being pulled from circulation, and investors sitting on what they had and buying more from the brokers, won't the brokers run out soon?

12:39 AM [scooter] OK --- here's the honest truth

12:39 AM [Nelson0528] There are probably still a few $100,000 notes around somewhere as well. But, I bet none of us will see one.....

12:39 AM [scooter] combine all our notes together

12:39 AM [scooter] and they still wouldn't care

12:40 AM [scooter] that's how small it is

12:40 AM [keepmwlknfny] even at a trillion?

12:40 AM [scooter] Think about it further

12:40 AM [scooter] if Iraq had 20 - 22 Trillion in circ

12:40 AM [Scooby Doo] speculators probably have over 2 trillion dinar

12:40 AM [scooter] most of that is in international reserves

12:41 AM [scooter] Hold on Scooby Doo

12:41 AM [Nelson0528] Scooter - agreed. They knew what they printed and the ramifications, when they printed them. HTey have been working for the last several years, to keep the currency in circulation down and to keep inflation down....

12:41 AM [frankc] Scooter Someone said we were 1.5T out of 5.5T. Is that true?

12:41 AM [scooter] The reserves will never be moved from that location

12:41 AM [scooter] in fact

12:42 AM [scooter] when you combine the international reserves -- the circ drops down to about 7 Trillion in larger notes

12:42 AM [scooter] now most of those are in country

12:42 AM [scooter] the internatiional reserves have are being replaced with either

12:43 AM [Nelson0528] It really doesn't matter WHO holds the notes. They have a fiscal responsibility to manage them properly. Which is what they are ddoing. THe real value will be at a rate that they can reasonably sustain with exports, assets, and foriegn currencies. That is a relativey fixed number at the moment.

12:43 AM [scooter] the smaller notes by the CBI over the last 90 days

12:43 AM [scooter] nevertheless

12:43 AM [scooter] in fact the CBI sold back to those institutions at the higher rate

12:44 AM [scooter] for the past 90 days

12:44 AM [scooter] so back to 7 Trillion

12:44 AM [scooter] 90% are in country

12:44 AM [scooter] maybe 85%

12:44 AM [keepmwlknfny] Scooter Scooter Scooter so then would it be safe to say that all that money thats supposed in circulation is part electronic? not to mention, the amount of the new bills printed not yet released, and bills that have been destroyed because of age and wearing out that have not been subtracted??

12:44 AM [Nelson0528] Even if it were 50% they know what they have out there...

12:44 AM [scooter] Remember -- the IMF and CBI -- they could easilly scrub the larger notes left

12:44 AM [scooter] no problems asked

12:45 AM [scooter] what they want to do is have about 1.7 - 2.3 Trillion in circ

12:45 AM [scooter] They'll soil or burn the notes when they come back in

12:45 AM [scooter] they might even replace that with SDR's

12:45 AM [frankc] sounds like a small number

12:45 AM [Nelson0528] Now that's a likelihood...SDRs

12:45 AM [scooter] at the IMF -- act as a credit account or reserve, or holding

12:45 AM [keepmwlknfny] Scooter Scooter yes i remember you telling me about the whole scrubbing thing without anyone even knowing whats going on....thats why ive always thought the amount they keep screaming about being in circulation is complete BS

12:46 AM [Nelson0528] WEll, they will have to put up funds in SDRs to be an active member of the IMF

12:46 AM [scooter] yea --- they did this during kuwaits first RV

12:46 AM [svanish] In the past, you calculated the rate that Iraq could actually sustain. Do you remember which number you stated?

12:46 AM [scooter] very quietly

12:46 AM [dflake] keepmwlknfny bingo, digital dollars, dinar

12:46 AM [scooter] I did

12:47 AM [svanish] I kind of remember you doing that

12:47 AM [scooter] are you talking about the sustainabllity about the budget

12:47 AM [scooter] I remember that

12:47 AM [Scooby Doo] thanks scooter ... this is making more sense now

12:47 AM [svanish] I dont remember I just remember something along those lines

12:47 AM [scooter] the bottom number being 1.13 - 1.17

12:47 AM [scooter]

12:47 AM [Scooby Doo] I was really hung up on the amount of dinars in circulation

12:47 AM [svanish] Nope the higher number

12:48 AM [scooter] Scooby Doo I know -- this one perplexed me for some time

12:48 AM [frankc] why not the Bahrain number?

12:48 AM [scooter] that's a budget number

12:48 AM [keepmwlknfny] Scooter Scooter so your saying that kuwait did the same thing before they RV'd? they got rid of bills without anyone knowing they were destroying them?? where did you hear or read about this???

12:48 AM [scooter] Nelson0528 Nelson0528 no

12:49 AM [scooter] The technicals show the country could easilly support a high RV

12:49 AM [scooter] but

12:49 AM [svanish] I could have sworn it was a double digit number

12:49 AM [scooter] the medium level makes much more sense

12:49 AM [scooter] Glide to the high program rate

12:49 AM [Scooby Doo] medium meaning 2.20?

12:49 AM [scooter] Easy entrance into WTO and GCC

12:50 AM [WickedWays] Iraq is looking to increase oil production from 2.4 million barrels a day to 12 million barrels a day This is what the Mega Iraq Project is, plus at the moment they are flarin millions of cubic feet of natural gas a day

12:50 AM [Nelson0528] Yep, but, much of the resources they need to support a strong RV ar still in the ground and the infrastructure to compensate for it is still a couple years out....

12:51 AM [keepmwlknfny] Scooter Scooter Scooter where did you hear about kuwait destroying bills before they RV'd???

12:51 AM [scooter] Nelson0528 Nelson0528 EXACTLY -- well said

12:52 AM [Nelson0528] TY... that is why I think a more moderate revaluation and then it will climb as their resources grow.

12:53 AM [keepmwlknfny] Scooter Scooter is there any evidence of this happening? or of kuwait doing that?

12:54 AM [THJ] svanish .1 was the devakued rate before it RV'ed. It came out very high then settled to where it is today.

12:55 AM [svanish] Phoenix seems to think it never really fluctuated to 7-9 as some say

12:55 AM [scooter] It was there for three hours

12:55 AM [frankc] svanish how did it go from 5cents to 3.47?

12:55 AM [svanish] Wow

12:55 AM [scooter] THEN

12:56 AM [scooter] Normalcy came in

12:57 AM [scooter] I think she was saying they will put a managed float together with a 5 - 7 % plus or minus cap on the fluctuation

12:57 AM [Scooby Doo] good luck svanish

12:57 AM [svanish] Oh you mean big guys get to trade in at that rate

12:57 AM [Nelson0528] REminded me of what my roommate used to tell me....

12:58 AM [THJ] Scooter Cap will be more in the 2.5% range.

12:58 AM [Scooby Doo] so Scooter are you saying the money supply isn't a problem?

12:58 AM [frankc] Gosh i hope I dont' have to worry about trading in the first 3 hrs

12:58 AM [scooter] svanish -- that won't happen here ---- unfortunately

12:58 AM [svanish] Scooby Doo we will take shifts. You are on here all the time also. Call me when it RVs

12:58 AM [scooter] NO

12:58 AM [scooter] YOU WON'T

12:58 AM [scooter] Remember there's a significant difference in the demographic of the two countries

12:58 AM [scooter] One being population

12:58 AM [scooter] Iraq has 31 million

12:58 AM [scooter] Kuwait has 3.5

12:59 AM [scooter] Their rate will move much more drastically, particularly at that time

12:59 AM [scooter] IN forex

12:59 AM [keepmwlknfny] Scooter Scooter Scooter you read that one post from the tax professional that is claiming this exchange will be a simple added income? that would be GREAT!!! cant complain with 15%........

12:59 AM [scooter] Today's environment -- won't happen

12:59 AM [svanish] So I dont have to watch it for the first three hours gottcha

1:00 AM [scooter] The imf knows they need stability in their currency to deal with the shock waves in oil prices

1:00 AM [Nelson0528] Don't think it will fall under capital gains?

1:00 AM [Nelson0528] Don't think it will fall under capital gains?

1:00 AM [frankc] why not?

1:00 AM [scooter] keepmwlknfny keepmwlknfny YEP

1:00 AM [scooter] Long term capitol gains is 15%

1:01 AM [scooter] svanish svanish svanish NO WAQY

1:01 AM [scooter] I'm certainly not

1:01 AM [keepmwlknfny] Nelson0528 Nelson0528 dunno....there are many conflicting views cause there is nothing specific to currency exchange for profit

1:01 AM [scooter] I'm going shopping for banks

1:01 AM [Nelson0528] Isn't there a limit for the 15% bracket. I think that changes to a graduated scale when you hit $250,000.

1:01 AM [scooter] And going to let them bury themselves in the negotiation

1:02 AM [keepmwlknfny] Nelson0528 Nelson0528 i dunno

1:02 AM [scooter] NOOOOO

1:02 AM [scooter] WELL

1:02 AM [scooter] OK

1:02 AM [scooter] What the heck

1:03 AM [frankc] is there a 250k limit?

1:04 AM [Nelson0528] frankc - it has been I while since I looked at the capital gains taxes in the codes. I perused it a year or so ago. But, I seem to recall, once you hit a certain amount, the tax brackets started graduating up from 15%. Scooter, you know about this?

1:04 AM [Catl6147] I dont want to know anything but if they seated the gov yet

1:04 AM [keepmwlknfny] Catl6147 Catl6147 not yet

1:04 AM [dflake] Catl6147 no

1:04 AM [scooter] Nelson0528 Nelson0528 a little but

1:04 AM [scooter] I need to review one more time

1:05 AM [keepmwlknfny] Catl6147 seems they have agreed on a couple positions but its not official until they have another parliment meeting

1:05 AM [scooter] Because it has to deal with intent on some of the items

1:06 AM [Nelson0528] Yeah, me too. For some reason that keeps nagging in the back of my head that there are limits to the CAp GAins tax brackets. But, I also seem to recall, that maybe the max for long term was 25% and 38% on short term. But, it has been a while.... very foggy now...

1:06 AM [scooter] Nelson0528 yea -- short term is definately at that rate

1:06 AM [scooter] But i was speaking to some experts today about this subject

1:07 AM [keepmwlknfny] Scooter Scooter and what they say

1:07 AM [scooter] The skype lines were rampant

1:07 AM [svanish] I didnt think there was a cap on long term. You want long term if its considered capital gain otherwise its ordinary income. However if you read that attorneys position it is not capital gains it is income. So that sucks

1:07 AM [scooter] svanish that was the exact argument today

1:07 AM [scooter] They slammed that guy

1:07 AM [scooter] With some facts from other codes

1:07 AM [frankc] that sucks

1:07 AM [scooter] It was funnhy

1:07 AM [Nelson0528] Wow!

1:07 AM [svanish] Oh they did I didnt read the comments

1:07 AM [scooter] NO

1:07 AM [scooter] That's good

1:08 AM [scooter] We don't want this treated as normal income

1:08 AM [scooter] NO WAY

1:08 AM [keepmwlknfny] Scooter Scooter meaning it wont be just simple income??

1:08 AM [keepmwlknfny] why not? isent that cheaper?

1:08 AM [scooter] svanish svanish i'll see if i can get you a copy

1:08 AM [Nelson0528] Yep, that's right. But, I thought currencies were covered like securities for short term gains at 40% o9r your T

1:08 AM [scooter] It was a very humerous debate with these tax attorneys

1:08 AM [svanish] no income is not cheaper

1:08 AM [svanish] capital gains is if long term

1:09 AM [Scooby Doo] income is graduated

1:09 AM [scooter] That's what i meant

1:09 AM [scooter] SORRY

1:09 AM [scooter] Cap is cheaper

1:09 AM [scooter] DEFINATELY

1:09 AM [THJ] Scooter Currrency exchange for individuals doesn't fall under any of the tax codes.

1:09 AM [Nelson0528] I think the CAPs are graduated as well, it depends on how much you are claiming....

1:09 AM [scooter] Depends on intent

1:09 AM [keepmwlknfny] Scooter Scooter Scooter is that 60/40 split sound right that chris. s was saying his dad told him?

1:10 AM [scooter] MAN

1:10 AM [Nelson0528] scooter, right, it depends on your filing status. Individuals are treated differently than brokers and deaelers...

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lost one Newbie

lost one

Posted
Posted

For all the people that have no way of proving how long they have had dinar. I say nuts....It's like we don't exist.....I mean I for 1 will have to claim short term cap gains if that's the way it comes out. So in a way the income is the best way to claim. I can't do off shore because that cost to much to set up, with the LLC company in the states. Their are not to many options for the little guy. :(

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PAPATOM Newbie

PAPATOM

Posted
Posted (edited)

just a mention.....in that chat....they are discussing regular income (oh NO) and capital gains......

well, for those that get charged short term cap gain....the bracket is the same as normal income....

the code treats it as such....long term cap gains is a little less ....

imho. from what I have been READING and reading and reading.....

Edited by PAPATOM
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frankc Newbie

frankc

Posted
Posted

just a mention.....in that chat....they are discussing regular income (oh NO) and capital gains......

well, for those that get charged short term cap gain....the bracket is the same as normal income....

the code treats it as such....long term cap gains is a little less ....

imho. from what I have been READING and reading and reading.....

Long term CG is 35%

Short term CG is 15%

Big difference!

Correct me if I'm wrong.

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hrdbawl Newbie

hrdbawl

Posted
Posted

Long term CG is 35%

Short term CG is 15%

Big difference!

Correct me if I'm wrong.

You more or less have them backwards FrankC on those tax figures. Long Term CG's start as low as 0% and go to 15% at max income levels exceeding $372,951+ married or single! Short term CG's is in truth INCOME and taxed at nominal tax bracket rates. At the same dollar amount of $372,951+, you get hit at the 35% level Federally (does not include state tax if this pertains to you).

How do you combat this without going "off shore" or thru irrevocable trusts (corps won't help you here and will most likely hurt you unless you are attempting to duck state taxes)?

How do you spell ROTH IRA? This is a no brainer and being a CFP (Certified Financial Planner) I can't believe I was racking my brains trying to figure out how to avoid all these nasty taxes and BOOM it hit me. Fund a Roth IRA for 2010 up to $5k or $6k for people over the age of 50. OR...you can do what I did and transferred my current Roth IRA from another custodian and opened a trust account with Entrustgroup.com of whom works with DinarTrade to fund your Roth IRA with Dinar!!!

Why...because the Roth IRA (for those that don't know this) grows tax free in every and all ways. So, if your Roth IRA buys the Dinar at todays rates and you fund the Roth with new money or a transfer of another Roth you may have and the RV kicks in, you sell through the Roth at Entrust (or any other trust company that is willing to do this which there aren't many) and ALL gains are tax free!!! Now that's what I'm talking about.

I provided a link below that spells out some capital gains info for you should you want to look at it.

http://www.ask.com/wiki/Capital_gains_tax_in_the_United_States

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the_new_iraq Newbie

the_new_iraq

Posted
Posted

You more or less have them backwards FrankC on those tax figures. Long Term CG's start as low as 0% and go to 15% at max income levels exceeding $372,951+ married or single! Short term CG's is in truth INCOME and taxed at nominal tax bracket rates. At the same dollar amount of $372,951+, you get hit at the 35% level Federally (does not include state tax if this pertains to you).

How do you combat this without going "off shore" or thru irrevocable trusts (corps won't help you here and will most likely hurt you unless you are attempting to duck state taxes)?

How do you spell ROTH IRA? This is a no brainer and being a CFP (Certified Financial Planner) I can't believe I was racking my brains trying to figure out how to avoid all these nasty taxes and BOOM it hit me. Fund a Roth IRA for 2010 up to $5k or $6k for people over the age of 50. OR...you can do what I did and transferred my current Roth IRA from another custodian and opened a trust account with Entrustgroup.com of whom works with DinarTrade to fund your Roth IRA with Dinar!!!

Why...because the Roth IRA (for those that don't know this) grows tax free in every and all ways. So, if your Roth IRA buys the Dinar at todays rates and you fund the Roth with new money or a transfer of another Roth you may have and the RV kicks in, you sell through the Roth at Entrust (or any other trust company that is willing to do this which there aren't many) and ALL gains are tax free!!! Now that's what I'm talking about.

I provided a link below that spells out some capital gains info for you should you want to look at it.

http://www.ask.com/wiki/Capital_gains_tax_in_the_United_States

Thank you so much for this information about a Roth IRA. I was just thinking about this a few days ago. I'm defiitely going to look into this.

When the Dinar revalues do you know how they will base the Dinar in your account.

Will they be using the buy/sell data?

Thanks again.

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oma Newbie

oma

Posted
Posted (edited)

You more or less have them backwards FrankC on those tax figures. Long Term CG's start as low as 0% and go to 15% at max income levels exceeding $372,951+ married or single! Short term CG's is in truth INCOME and taxed at nominal tax bracket rates. At the same dollar amount of $372,951+, you get hit at the 35% level Federally (does not include state tax if this pertains to you).

How do you combat this without going "off shore" or thru irrevocable trusts (corps won't help you here and will most likely hurt you unless you are attempting to duck state taxes)?

How do you spell ROTH IRA? This is a no brainer and being a CFP (Certified Financial Planner) I can't believe I was racking my brains trying to figure out how to avoid all these nasty taxes and BOOM it hit me. Fund a Roth IRA for 2010 up to $5k or $6k for people over the age of 50. OR...you can do what I did and transferred my current Roth IRA from another custodian and opened a trust account with Entrustgroup.com of whom works with DinarTrade to fund your Roth IRA with Dinar!!!

Why...because the Roth IRA (for those that don't know this) grows tax free in every and all ways. So, if your Roth IRA buys the Dinar at todays rates and you fund the Roth with new money or a transfer of another Roth you may have and the RV kicks in, you sell through the Roth at Entrust (or any other trust company that is willing to do this which there aren't many) and ALL gains are tax free!!! Now that's what I'm talking about.

I provided a link below that spells out some capital gains info for you should you want to look at it.

http://www.ask.com/wiki/Capital_gains_tax_in_the_United_States

A simple google search does not show entrustgroup.com in a very positive light. Here is one of the many listings from the search:

IN THE UNITED STATES DISTRICT COURT

FOR THE EASTERN DISTRICT OF PENNSYLVANIA

--------------------------------------------------------------------------------

SECURITIES AND EXCHANGE COMMISSION,

Plaintiff,

v.

ROBERT L. BENTLEY,

BENTLEY FINANCIAL SERVICES, INC.,

ENTRUST GROUP,

Defendants, and

LYNN S. BENTLEY,

Relief Defendant

--------------------------------------------------------------------------------

:

:

:

:

:

:

:

:

:

:

:

CIVIL ACTION NO.

01-CV-5366

FIRST AMENDED COMPLAINT FOR INJUNCTION AND OTHER RELIEF

Plaintiff Securities and Exchange Commission (Commission) alleges the following facts in support of its complaint:

I. SUMMARY

1) The defendants are engaged in a fraudulent scheme to offer and sell privately issued notes which they falsely claim are bank issued certificates of deposit ("CDs") or interests in such CDs which are insured by the Federal Deposit Insurance Corp. ("FDIC"). Defendants' investors include numerous small banks, credit unions, and individual investors. Defendants' records show that they have, as of mid-September 2001, at least $318 million of such notes outstanding which have issued to more than 3,000 investors. Defendants claim to have "invested" more than $4 billion of investor funds since their scheme began in approximately 1986.

http://www.sec.gov/litigation/complaints/complr17298.htm

Edited to say: Possibly this litigation involves another Entrust Group. www.theentrustgroup.com appears to be the one hrdbawl was referring to.

Edited by oma
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hrdbawl Newbie

hrdbawl

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Thank you so much for this information about a Roth IRA. I was just thinking about this a few days ago. I'm defiitely going to look into this.

When the Dinar revalues do you know how they will base the Dinar in your account.

Will they be using the buy/sell data?

Thanks again.

They will have Dinar credited to your Trust account from a wire you send to the Trust company and they in turn wire DinarTrade for "X" amount of Dinar. You can learn more on DinarTrade as one of the link's to the left is to open an IRA and the directions to do so. A little confusing (as I said I'm in the business and these "odd" out of the box investments that only Trust companies usually accept are kinds tricky) but clearly worth it.

Then when my account reflects "X" amount in Dinar, I wait for that infamous day we all spend soooooo much time guesstimating and call my trust company to sell, sell, sell (who can tell me who coined that phrase in a 1083 movie driven towards commodities strangely enough)? :P The trust company will contact Dinar Trade electronically and sell the Dinar exchanging it into what I want which will be Peso's (yea right, USD).

Hope that answered your question.

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