Thread: Iraq/Dinar News. 09/05 to 01/14/07

Originally Posted by AlwaysDreaming

There was talk previously about opening a Warka account. I'm not very knowledgeable regarding investments, but my question is this...If I were to open an account at Warka by wiring US dollars, convert them to dinars, and then the reval happens, wire money in USD to my account in the US, would there still be tax to pay? I didn't see where Warka requires a ssn, which is understandable, so how does the government monitor this? Does the US bank have to report the wire from Warka? probably dumb question , but this is so new to me.

you are taxed on the money once you remove it from an account in usd. as long as it sits there its not taxable. once it is removed for use it is taxable.

hence why you want to look into re-investment of some type. as long as investment gains are reused for other investments they are not taxable. only becoming taxable when they are withdrawn.

Originally Posted by MC Dig

I live in LA, and there are no Chase banks here so I am SOL. I heard that in Arizona, M&I bank sold Dinar.

My sister just opened a Chase account in the greater New Orleans area and was told by that branch (Harvey) that she could buy dinar there. We have bought most of ours at Capital One/Hibernia.

Hope this helps.

Originally Posted by Dr. Mike

I thought I was the only one that was confused. I'm glad I'm not the only one in that boat. Now if we can find some oars.

its my fault. i thought the investment law they were talkin about was the oil one since they never called it the foreign investment law but i can see from adsters post earlier that indeed it is the fil.

Originally Posted by zwhatimsaying

I don't think that they are playing with us. The FIL is done and passed. I just don't think they have told us yet as they won't until everything is done. although the HCL isn't going to be signed until the 12th I will be looking for the reval this week some time. probably over the weekend.

I am with you on this, Z--Vuvu. Here's to lots of shopping soon!

Originally Posted by CharmedPiper

The Ministry of the Interior-a "press" important "

(Voice of Iraq) - 04-10-2006 | This issue was sent to a friend

The name of God the Merciful
The Ministry of the Interior At exactly twelve "of the day tomorrow," Thursday, 5 / 10 / 2006 conference "press" important "the official spokesman of the ministry, at the Conference Palace in Baghdad.
Please Your presence of the media coverage of the conference Okaem appreciate your cooperation with us in the public interest. With appreciation

The Ministry of the Interior


Important Note / attendance half an hour before the convening of the conference ((Palais des Congrès))

Sotaliraq.com

oh lookie another meeting the press MUST attend and not talk about!
man i love these things!!

Originally Posted by Alphamystic

Someone correct me if I'm wrong BUT, I believe that unless you go to Iraq and cash out, you would have to transfer your funds to a (I'm assuming) U.S. bank. In doing so anything over $5,000 (Might be $10k) the banks have to fill out a form and report the funds to the IRS for tax purposes. I hope this helps.

BUT until you SPEND capitol gains they arent taxed. reinvest til the cows come home and there is no tax.

Posted on Wed, Oct. 04, 2006
Satirical Iraqi TV show provides insight into Baghdad's mood
By Nancy A. Youssef

McClatchy Newspapers

BAGHDAD, Iraq - The year is 2017, according to the opening credits of the fake news broadcast, and the last man alive in Iraq, whose name is Saaed, is sitting at a desk, working as a television news anchor. He sports an Afro, star-shaped sunglasses and a button-down shirt.

The Americans are still here, the government is still bumbling, and the anchor wants his viewers to drink their tea slowly so they don't burn themselves. "You cannot go to the hospital during the curfew," he warns.

For Iraqis, the remark is outrageously funny, if only because it's so close to being true.

After a summer of the worst violence since U.S. troops toppled Saddam Hussein's regime, tens of thousands of Iraqis are finding solace and amusement in a new television show whose dark satirical humor makes it an Iraqi version of Jon Stewart's "The Daily Show."

The nightly send-up of a newscast includes weather, sports and business segments and features six characters, all played by the same actor.

With seemingly no sacred cows, it provides insight into how Iraqis see their country's problems, lampooning the Americans, the Iraqi government, the militias and the head of Iraq's state-owned media company.

Even the show's name is a joke. The title first appears on the screen as "The Government," but then the word is split in half, producing an Iraqi slang phrase that means, "Hurry Up, He's Dead."

The show is being produced to run only during Ramadan, the month when Muslims fast from sunrise to sunset, and it airs just as Baghdadis are breaking their fast. It's so popular that many people report being glued to the screen, eating their first meal of the day in small bites between laughs.

During one episode last week, Saaed announced that the minister of culture will print and distribute 200 copies of "Leila and the Wolf," the Arabic version of Little Red Riding Hood. But in these copies, Leila is the Iraqi people and the American forces are the wolf. The books will help children learn about occupation, Saaed explained.

In the next day's episode, Saaed joyfully announces that the Americans are finally leaving Iraq. Referring to the U.S. secretary of defense, Saaed, sitting behind his news desk, says: "Rums bin Feld said the American forces are leaving on 1-1," referring to Jan. 1.

He's giddy, raising his arms in the air. Then he realizes he's made a mistake. The soldiers are leaving one by one, not on 1-1. He computes in his head what leaving one by one means and announces that the soldiers will be gone in 694 years. He starts to cry; Iraqis watching the show howl.

The show is written by a glum but sarcastic man from Baghdad's Sadr City district named Talib al Sudani, 40, a poet and writer who cannot talk about his show without dropping in smug commentary about the lack of services here.

Sudani pitched the idea to Baghdad's local Sharkia station, which has made its reputation producing reality shows similar to those seen on U.S. television. Last year's big hit helped young couples pay for their weddings.

These days, however, Sharkia's offices are largely empty, and the technical equipment its executives boasted about last year stands largely idle. "Hurry Up, He's Dead" is filmed in Dubai; the producers and writers decided it would be too dangerous and impractical, with curfews and loud helicopters flying overhead, to film here.

The station bought the show idea from Sudani for less than $4,000. He sends his scripts via the Internet to Dubai. Occasionally, he's asked the station to drop a scene after realizing that, for a man still living in Iraq, he's gone too far. He insists he doesn't support one faction of the government over others.

"I don't support this government. I don't support any government," he said.

Every episode begins the same way, with the show's theme comparing Iraqis to a cat - an animal Sudani chose because he said Iraqis, like cats, are tame creatures.

As the theme song plays, Saaed appears face down in the sand on a beach, with a red suitcase lying next to him. He gets up and realizes he's the last Iraqi alive.

Saaed then arrives at work in a white stretch Hummer limousine, filled with women in glittery one-piece swimsuits and boas. Men dressed like American security contractors and soldiers open the door for him.

Saaed Khalifa, 43, an Iraqi actor who fled to Syria after the fall of Saddam's regime, plays all the main characters on the show. "I accepted this part because I wanted to prove myself as an actor and an Iraqi man loyal to his country," Khalifa said.

Khalifa is coy about whether he's Sunni or Shiite, perhaps in keeping with the theme of the show that it ultimately won't matter.

Sudani said one advantage of filming in Dubai is that the modern buildings in Dubai's skyline help him make another point about the Baghdad of the future: that while Iraq may have a future, it may not have many people to enjoy it.

Sudani doesn't plan to see if that ever happens.

"I am planning to book a one-way ticket out of here."

Reminds me of a scene from Monty Python's The Holy Grail..."I'm not dead yet...

Originally Posted by opps50

Is that the FIL

SGS said that it was the oil investment law which they called investment law and that the FIL had been passed for a couple of weeks ago

shotgunsusie <<< wrong

Originally Posted by Offshore-Wealth.com

Funny Adam,

You have my hhhhhooooooooottttt, long overdue hhhhhhooooooootttttt. LOL

Amazing, but no matter how you cut this up, it would make less sense not to return to the $3.00 plus value given all the factors you mentioned, never mind an even more important one, now under a free democracy, plus as an extra bonus, almost all major debt forgiven.

If we were to use simple logics, the dinar should be over $4.00 to the dinar, and then it would still have room to rise to the original rate of almost $5.00. WOW, now you see the problem which has been holding up this whole deal, where to start? $1.48 or $4.86, hhhhhmmmmmmmm, now if only they had half a brain to make a decsions we would not have to indure all this political BS we have been reading for far too long now. LOL

I don't know about the rest of you, but I am about burned out on what I call IIO, (Iraqi Investment Overload) Man, I can hardly stay awake any longer reading all this mostly useless information. I would not make a good politician for I like to say it like it is, and cut to the chase, while politicians, no matter where they are get paid to waste time with useless debates on even more useless issues. Connecting the dots on all these posts is taking way to long, so lets all hope it happens real soon to avoid going crazy. LOL

Good luck to all, Mike

NO SHIITE!!

Originally Posted by shotgunsusie

BUT until you SPEND capitol gains they arent taxed. reinvest til the cows come home and there is no tax.

Sorry Susie...That's not true. Capital gains are taxable in the year they are taken. Unless its your home and then the gain is rolled over into a new home.