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

Originally Posted by shotgunsusie

thanks, ok, BUT WHAT DOES IT MEAN???
i mean, its the key to when they are doin the votin and its a bloody math problem. ten after ten on the tenth in the tenth month ,,, the only time during ramadan you can do anything official is at ten after ten?
what???

It's all clear now

10/10 at 10:10 GOOD NEWS !!!

Originally Posted by Offshore-Wealth.com

Good question,

Personally, unless you were looking to invest indirectly in the ISX, there is little advantage of opening an account in Iraq. Technically speaking, the moment you do, the U.S. gov knows about it, this you can take to the bank, and even though you may not have had to supply a SS# to Warka, you can bet on it thay your bank you wired from has recorded such and as required by the Patriot Act, have sent off this transaction to government as is required with all related transfers to muslim countries, as in terrorist monitoring activities.

Not to be paranoid, but those who have opened an account and wired funds are now on a master list of potential terrorist supporters, like it or not. So in my opinion has always been to not open an account in any muslim country. Given this fact, it was not worth it given the only advantage was to invest in Iraqi stocks, even if profits were realized, I don't like the idea of being on the U.S. terrorist hit list. In time, we will all be able to do this without the same concerns, so from a personal stand point, I don't want Uncle Sam looking over my shoulder snooping on any of my private personal
fiancial information, it is bad enough we have to report income from all sources, so why would I want to be on a terrorist hit list?

Good luck to all, Mike

too late for me, postin on these forums has exposed me. lol

regardless of all the stuff out there, right now one HUGE thing stands out, and that is

" Monetary value of the Iraqi dinar must revert to the previous level, or at least to acceptable levels as it is in the Iraqi neighboring states."

We may all want this yesterday, but the above statement is not a rumor, it is from the camels mouth.

Originally Posted by shotgunsusie

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.

Not true! If that were true, do you think anyone would ever pay Capital Gains? Capital gains are taxible in the tax year they are extablished..

Originally Posted by kiko

Just my thought:

First Maliki says that they should/must pass the FIL in september. I think because of the deadline of 30 september.

Then we don't hear anything about it until the beginning of october till now.

They are delaying the votes with the reason that there most be done more study??? If this was true, then they never could have said that the FIL should be passed by the end of september.

At this point also from this moment there is also more talk about the Hydrocarbon Law.

Then they tell us that they are delaying again till the 12th of October!!

About this I have two questions:

1 - Could it be that they are playing a game by referring to the FIL for the media and outside world while they mean the Hydro Carbon Law?
Meaning the FIL is passed.

2 - Could the delay have been brought out to the world to bring speculation to zero and that a RV will happen before the 12th of October?

Comments, thoughts, opinions are very welcome.

did you notice we reserved $20M for a victory party IN 2006??? now its been DELAYED/EXTENDED til 2007 budget which started oct. 1. that tells me the usa thought for sure that iraq would have all this shiite done by sept 30th.

they werent the only one!

Originally Posted by shotgunsusie

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

Not quite. Capital gains are taxed when recognized, which, in the case of the dinar, means when you convert the dinar into anything else. It may be possible to do a like-kind exchange for another foreign currency (not dollars), which would delay recognizing the gain while moving to a more stable currency; however, I have not explored this option.

Originally Posted by Vipor

I agree with ya z. It would seem a bit presumptuous (in my opinion) for the government to be moving forward with deal discussions with their neighboring countries and others such as China if they were still working on the FIL. I say it's already done and they are just keeping it under wraps until their other "laws" are complete.

make that three!

Originally Posted by Bubba Dinar

Not true! If that were true, do you think anyone would ever pay Capital Gains? Capital gains are taxible in the tax year they are extablished..

I believe you are exempt from capital gains if you shift money directly into another investment of "like kind". So, if you sell a house and use the proceeds to immediately buy another, or sell your dinar and buy Euro's or Yen. You still have to pay when you cash out into dollars though. I am in no way an expert on this, just what I have heard talking to people.

Originally Posted by Vipor

I agree with ya z. It would seem a bit presumptuous (in my opinion) for the government to be moving forward with deal discussions with their neighboring countries and others such as China if they were still working on the FIL. I say it's already done and they are just keeping it under wraps until their other "laws" are complete.

Originally Posted by archangel

Congress Approves $20M to Celebrate End of Iraq, Afghanistan Wars
Wednesday, October 04, 2006

E-MAIL STORY PRINTER FRIENDLY VERSION
WASHINGTON — The military's top generals have warned Iraq is on the cusp of a civil war and that U.S. troops must remain in large numbers until at least next spring. But if the winds suddenly blow a different direction, Congress is ready to celebrate with a $20 million victory party.

Lawmakers included language in this year's defense spending bill, approved last week, allowing them to spend the money. The funds for "commemoration of success" in Iraq and Afghanistan were originally tucked into last year's defense measure, but went unspent amid an uptick in violence in both countries that forced the Pentagon to extend tours of duty for thousands of troops.

Republicans have yet to claim responsibility for the provision. Democrats say it was likely added by the Senate's majority Republicans, and less than five weeks from congressional elections are pointing to it as another example of where the GOP has gone astray handling the war in Iraq.

"If the Bush administration is planning victory celebrations, Americans deserve to know what their plan is to get us to a victory in Iraq," said Rebecca Kirszner, spokeswoman for Senate Minority Leader Harry Reid, D-Nev.

Carolyn Weyforth, spokeswoman for Senate Majority Leader Bill Frist, R-Tenn., said, "Republicans are confident we will be victorious in the ongoing war in terror, and we look forward to a time when those funds can be used to honor the men and women who have risked and given their lives."
FOXNews.com - Congress Approves $20M to Celebrate End of Iraq, Afghanistan Wars - Politics | Republican Party | Democratic Party | Political Spectrum

see? they SHOULD HAVE done it before sept. 30th i tell ya! lol

Thanks for explaining and all the info.

Originally Posted by shotgunsusie

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.