After the RV

[Crow]

are there any 5/3 banks in Texas?-if so where

Based in Ohio!!!!

[primalnick]

None in Texas at this time.

[BanG]

Excellent Post! In saying that I'm curious how the IRS will actually tax us? Earned Income? Capital Gains? Either way I stand ready to PAY my portion and lift my head to GOD and Thank him for allowing me to experience this.

[tevye02]

Thanks for the post. However, it goes to show that you do not want to take tax advice from a banker.

There is a ton of good info in the tax section of this forum. Look it over and decide for yourself or better yet show some of the posts to your tax advisor. They opened my eyes and changed my opinions.

A post RV plan -even a minimal one- should be made by everybody who has 1 mil or more. There will be lots of misinformation when this hits. Get it done while everyone is lucid. Just my 23.4 dinar

[umbertino]

I will invest my money in a lingerie company for plus size women.Watch me get even richer.

Good.There was a time in my life in which I felt very attracted to plus size women and frequented a few of them.....They can be very sensual no doubt.

Edited February 15, 2011 by umbertino

[youliveonce]

Cash out and head out of the good old USA.I will be on beach in South America.The USA is a financial train wreck and I am out of here.

[learning all i can]

Thanks, I'll check into it further.

If I remember correctly though, I could have sworn that Ali stated that his rate will be the same as the CBI and he would only charge $150 per million dinar, but I'll look into it again.

I just got this off DT....

Fees:

Dinar Trade will charge $150 per million dinars as a service fee for exchanging your Dinars.

Our minimum quantity of Dinars that may be cashed in is 100,000. The minimum fee is $150.

Rate of Exchange:

We will offer customers who have purchased from Dinar Trade the option to lock in a rate for the time of their appointment. Our rate will be based on the Central Bank of Iraq's buy rate. We will post the lock in agreement on our website and we will also fax or email a lock in agreement to the customer that must be signed, notarized and faxed back to our office within 24 hours. If the fax is not received within the 24 hours your lock in rate will be forfeited. Once locked in the appointment and rate cannot be changed or canceled. There will be legal recourse for individuals who lock in a rate and do not arrive for their appointment. The lock in rate is guaranteed until the day of the appointment. A lock in rate means that the price is agreed upon whether the rate goes up or down.

Customers who are unsure or do not want to lock in a rate will receive the rate on the day of their appointment. The exchange rate will depend on the rate in Iraq at that time of the appointment for customers not locking in a rate. We will let you know the rate on the phone but it will not be confirmed until you arrive at one of our offices at the time of exchange.

We encourage everyone to check all the banks who will be exchanging Dinars and their rates before calling us. We are confident we can beat their rates.

They state that their rate of exchange will be the same as the CBI buy rate. I would think that this means they have no spread. They also state that they are confident that they will beat any banks.

They will charge you the rate that CBI charges them.......This rate could range fron 2%/4% or whatever CBI is charging......4% of $1,000,000.00 is $40,000.00

WOW, thats a bunch Whatever CBI charges is their spread

[aKINGinme]

Cash out and head out of the good old USA.I will be on beach in South America.The USA is a financial train wreck and I am out of here.

Sounds good to me... Dominican Republic/Venezuela/Colombia/Argentina/Brazil/Peru/Chile here I come... Espero que esas mujeres estan listas...

Edited February 16, 2011 by aKINGinme

[youliveonce]

Akin-Amen brother.See you at the airport.We can buy our accomodations upon arrival.One can never be too rich or too tan!

[Sdr]

IF the Dinars qualify under capital gains, there are still Long term and short term classifications, so if you haven't held the dinar for over a year you are going to pay normal tax rates anyway. I had also head about the quarterly tax payments, so it means we need to basically pay the tax man first then worry about the rest later. Long time watcher 1st time poster.

God Bless

Well Mr. Obvious (guessing a Bob and Tom Fan).......you are right and wrong........regardless of a VERY few possibilities, this is going to be

Ordinary Income WHATEVER you do.......in the USA. ......however long you have held the Asset........see my bio for disclaimer.......