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

Tiffany
that is sooo funny! I love crickets by the way - love the sound - quite but bigg things are stirring-
We are cat-sitting and getting out cat ready for a girlfriend which we will get for him when the R/v comes. Want to make sure we can cover additional Vet bills.
.....................Owls too!.....................
Marlene

Dinar Gang
Again we are talking about the exchange and taxes. Awhile back there was a post that linked to the US dept of State. i am finding it now. To my understanding there is no tax on the exchange of currency.

CURRENCY CONVERSION AND TRANSFER POLICIES

The currency of Iraq is the Dinar (ID - sometimes referred to as the New Iraqi Dinar). Iraq's current exchange system is characterized as a free foreign exchange system, with no restrictions on purchases or sales of foreign currencies. The Iraqi currency is fully convertible and can be exchanged freely with any other currency. In addition, there is free movement of capital without restrictions on capital inflows and outflows. Iraq's foreign exchange regime is also a multi-currency system in which foreign currencies circulate in the market and are accessible to everyone.

The exchange rate is generally determined on the basis of supply and demand conditions in the foreign exchange market. Banks may engage in spot transactions in any currency, but are not allowed to engage in forward transactions in Iraqi Dinar for speculative purposes. The Central Bank of Iraq (CBI) also can intervene, when necessary, in order to maintain stability in the foreign exchange market. In addition, there are no taxes or subsidies on purchases or sales of foreign exchange.

The Government of Iraq's monetary policy since 2003 has focused on maintaining price stability and a stable exchange rate. In addition, the Central Bank of Iraq conducts daily foreign exchange auctions to limit the impact on base money growth of the sale of the government's oil export earnings.

http://www.state.gov/e/eb/ifd/2006/67643.htm is the direct link

*Note: The bonds current yield of 9.62 % remains one of the highest in the world for sovereign debt instruments.

It has been 8 hours, with no new posts. How is a girl supposed to get her fix before she leaves in the morning? You should all be ashamed of yourselves. Now I have to go to a Girl Scout training, will be gone for a couple of hours, will probably go through withdrawals while I'm there. I hope there is something good here when I get back!



(Don't I sound like your mother, when you forgot to do something when you were a kid)

Originally Posted by choochie

It has been 8 hours, with no new posts. How is a girl supposed to get her fix before she leaves in the morning? You should all be ashamed of yourselves. Now I have to go to a Girl Scout training, will be gone for a couple of hours, will probably go through withdrawals while I'm there. I hope there is something good here when I get back!



(Don't I sound like your mother, when you forgot to do something when you were a kid)

I know I know. I'm so ready for some good news I could scream! I feel like I've been in the desert for 40 days and 40 nights. It's time now, right? Adster? Mike?

Hezbollah Pays Out $12K in U.S. Cash to Lebanese Who Lost Their Homes
Friday, August 18, 2006

Hezbollah on Friday started handing out crisp one hundred dollar bills to residents who lost their homes in the Israeli bombing campaign — $12,000 to each claimant.

There were no lines and no waiting at the Shahed School. In an efficient and organized operation, applicants who had signed up for the aid earlier in the week showed up at the school, showed identification papers and only had to sign a receipt. Hezbollah workers promptly handed residents stacks of bills from a suitcase.

Hezbollah leader Sheik Hassan Nasrallah, in a television speech on Monday shortly after the cease-fire with Israel took hold, pledged to help rebuild Lebanon and said the organization would provide money for civilians who had lost their homes to pay rent and buy furniture.

FOXNews.com - Hezbollah Pays Out $12K in U.S. Cash to Lebanese Who Lost Their Homes - The Mideast

Originally Posted by www.xealthy.com

Dinar Gang
Again we are talking about the exchange and taxes. Awhile back there was a post that linked to the US dept of State. i am finding it now. To my understanding there is no tax on the exchange of currency.

CURRENCY CONVERSION AND TRANSFER POLICIES

The currency of Iraq is the Dinar (ID - sometimes referred to as the New Iraqi Dinar). Iraq's current exchange system is characterized as a free foreign exchange system, with no restrictions on purchases or sales of foreign currencies. The Iraqi currency is fully convertible and can be exchanged freely with any other currency. In addition, there is free movement of capital without restrictions on capital inflows and outflows. Iraq's foreign exchange regime is also a multi-currency system in which foreign currencies circulate in the market and are accessible to everyone.

The exchange rate is generally determined on the basis of supply and demand conditions in the foreign exchange market. Banks may engage in spot transactions in any currency, but are not allowed to engage in forward transactions in Iraqi Dinar for speculative purposes. The Central Bank of Iraq (CBI) also can intervene, when necessary, in order to maintain stability in the foreign exchange market. In addition, there are no taxes or subsidies on purchases or sales of foreign exchange.

The Government of Iraq's monetary policy since 2003 has focused on maintaining price stability and a stable exchange rate. In addition, the Central Bank of Iraq conducts daily foreign exchange auctions to limit the impact on base money growth of the sale of the government's oil export earnings.

http://www.state.gov/e/eb/ifd/2006/67643.htm is the direct link

Hi Xealthy! This would be nice! Is it saying no taxes in the U.S.? or in Iraq? What a blessing! I was thinking that if we did have to pay taxes that we should at least be able to calculate our loss when we first purchased the dinar. As far as I can tell, we took a loss at that time so we should be compensated or at least take it into account to offset the increase.

From portal Iraq.
The Al-Basra Governorate Board decided to establish a free trade area at the Al-Basra international airport.

The Chairman of the Rebuilding and Development Committee of the Board said that the establishment of the free trade area will cost $40 million.

The area will include hotels, markets, trade offices, importing and exporting companies and currency exchange companies.

Like this last bit......

Originally Posted by readytogo

Hi Xealthy! This would be nice! Is it saying no taxes in the U.S.? or in Iraq? What a blessing! I was thinking that if we did have to pay taxes that we should at least be able to calculate our loss when we first purchased the dinar. As far as I can tell, we took a loss at that time so we should be compensated or at least take it into account to offset the increase.

Skipping the debate about the meaning of the State Dept. policy, don't worry about the "loss" at time of purchase. The taxable amount, long or short term, depending on how long you held the asset, is simply the "gain", the value when sold minus the value paid.

Originally Posted by jsfletcher

Has anyone else seen this? I know Adster has, at least his alter ego has...LOL just kidding Adster. This cam from another forum


dinar hawk
New Member

Join Date: Aug 2006
Posts: 4

Hello fellow investors. I spoke with my father today, and here is some additional information.

First, let me say that I am not a dealer, nor am I affiliated with one. I simply have a common interest with you and am passing on what I know. This is very priveledged info. Thanks for the beatings, but I expected it. For those that are interested:

The reval will happen Sept. 2, 3 or 4. It will be in the .77 range. All major banks are being set up at this moment to trade the currency, and you will have 3 weeks to trade in the 25k and 10k notes because they will be taken out of circulation. This will be announced with the reval. The banks are setting up agressive marketing programs to get this business.

Why do I tell you this? Because we are in this together. In the eyes of the investment world, we are laughing stocks. However, we shall have the last laugh. Congrats to all that had the insight and patience to ride this out.

Are you saying that it will be mandatory that 100% of Dinar holders have three weeks to exchange 100% of their Dinar in the 25k and 10k notes at the bank for another currency or are you saying you have the same weeks to exchange the 25k and 10k notes with a Dinar dealer to acquire smaller denomination of notes? Thanks.