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

Originally Posted by pipshurricane

20 July 2006 (Baghdad: Al Sabah newspaper)
On Monday, Iraq and the USA signed a dual agreement in Baghdad calling for the activation of economic and trade accords between the two countries. A press spokesman at the Ministry of Trade explained in a statement to Al Sabah that the Minister of Trade, Dr. Abudul Falah AL Soudani, and the American Minister for Foreign Trade, visiting Iraq this week, signed the agreement. Al Soudani said during the signing ceremony that the agreement will largely contribute to developing the Iraqi economy through American expertise in the field of a free and open economy and by sharing with Iraq information on international experiments, which will help Iraq build its infrastructure destroyed in the war or due to a lack of programmed scientific planning. He added that the agreement will strengthen Iraq's economy by encouraging imports and exports to US markets and through the importation of new technology into Iraq. He referred to remarks made by the US Minister indicating that the agreement affirmed the US's willingness to support Iraq's economic rehabilitation so as to ready it to enter a free-market economy. Specifically, the US would assist Iraq in obtaining permanent membership in the World Trade Organization as well as other economic organizations. This agreement he said will mark the return of Iraq's economy to the world stage, adding that Iraq's economic variables in manpower and raw materials are far stronger than in most countries throughout the world.

Well looks like this is it. Come on revalue(Peg).

Originally Posted by tiffany

I'm wondering if the meeting on the 26th will be televised live on CNN or FOXNews....if the dinar hasn't revaled before Maliki comes I'll be hanging on EVERY WORD listening for key words...CURRENCY...DOLLAR...EQUAL...REVALUATION... you get the picture! lol!

Tiff,

Read the article "ph" posted. To me it is a done deal. With out saying it.

OH! I hope you're right Neno! I'm feeling a bit crazed right now! Soon-soon-soon!

Post #4352 posted by PH is the most positive post I've read lately. It does indeed sound as if this deal has been aranged and completed, now we just need the anouncement.

I can't imagine what could delay it now.

Originally Posted by pipshurricane

20 July 2006 (Baghdad: Al Sabah newspaper)
This agreement he said will mark the return of Iraq's economy to the world stage, adding that Iraq's economic variables in manpower and raw materials are far stronger than in most countries throughout the world.

TY pips, nice find. This sounds like exactly what we wanna hear. Now the just gotta do it.

Yes, that last sentence says a lot. If Iraq's resources are above most other countrys then, why shouldn't the r/v be at least equal to the USD?

Originally Posted by rodney ewalt

Yes, that last sentence says a lot. If Iraq's resources are above most other countrys then, why shouldn't the r/v be at least equal to the USD?

Which...might I point out is LESS THAN 1/3 (one third) of what it once was...

Originally Posted by tiffany

Which...might I point out is LESS THAN 1/3 (one third) of what it once was...

The odds keep getting better and better... PH your post says sooo much...thank you for getting my day off to a great start.. I'm hanging on every word here... its just a matter of "are we there yet"?

Well folks...I've called around to a few of the BIG CPA's in my area...and have gotten a few opinions! ARRGGH!

One said that if I exchange foreign currency and deposit it into a bank account, then I am responsible for whatever the bank states on the 1099 form that they send me at the end of the year...meaning any interest made on the accounts. (REALLY LIKE THIS OPINION! lol! )

Another one said that I would have to fill out a form 4797 - part 2 - line 10 for ordinary gains...to be taxed at a THIRD!

I questioned the fact that I would in fact be PHYSICALLY EXCHANGING CURRENCY NOTES at the bank and was told that large amounts COULD MAYBE considered as a capital gains tax...I told him that that's what I was understanding it to be...he said that he would have to investigate it further IF the time came and was needed! Then he asked me ALLLLL ABOUT the dinar...and after questioning my responses replied with a scenerio that sounded rather "LOPISH" so I told him 'NO' and then he wanted to know where to get the dinars...gave him a couple dealers registered with the US Treasury...gave him THIS sites addy...but he still was laughing at me...so WHATEVER! I told him that if he DID buy some...Wonderful! ....if he didn't...that's fine because I'll be living VERRYYY comfortably! lol!

He also said that with it being Iraqi currency to expect a call or visit from Homeland Security...which I said was fine because the Currency Dealers I have purchased from are all registered with the treasury department. THAT'S when he started inquiring for himself! lol!

I don't know what to think or do...I have all of my receipts...not worried about that...but I want to fill out the RIGHT forms and claim the PROPER amount...do you know what I mean?

MIKE HELP! You are in New York with me...please PM me and let me know what you think! I'm so verry greatful!

Hi,

For those that live in the U.K. and bank with Nat West, I happened to be in there this afternoon and ask re security if they had safe deposit boxes as i wished to make my dinars safe in the future having exchanged one third on revalue, they said that they would hold any sealed packages for a cost of £10.00 per year.