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Ten Things to Know About 1031 Exchanges
Tax nerds may be able to spout off Internal Revenue Code Sections, but most people never get beyond 401(k). (That's right, your workplace retirement savings plan is named after a section of the tax code.)
Still, Section 1031 is slowly making its way into daily conversation, bandied about by realtors, title companies, investors and soccer moms. Some people even insist on making it into a verb, a la FedEx , as in: "Let's 1031 that building for another." (While Section 1031 isn't restricted to real estate, that's clearly where most of the discussion takes place.)
So what is 1031? Broadly stated, a 1031 exchange (also called a like-kind exchange or a Starker) is a swap of one business or investment asset for another. Although most swaps are taxable as sales, if you come within 1031, you'll either have no tax or limited tax due at the time of the exchange.
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Dinar Updates "A DU Conference Call - Info that Matters" w/ BGG and Loopster - Audio Player from Monday 1/23/2017
Dial in replay 641-715-3639 pin 528733#
(
In Recaps Newsletter, click blue title for audio player.
)
From DinarUpdates.com
56 Minute Call
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Post From Dinar Updates
Chat Room News Excerpts & Highlights
Dinar Updates Monday Late PM Chat 1-23-17
Chat below is during and after BGG live call: LINK TO LISTEN
jetset says():this is good info and a good explanation on what goes on with currency on the bank side of things!
BGG says():This stuff is GOLDEN info...
eman4u55 says():(y)
jetset says():you mentioned the bank commissions on the exchanges, i'd like to think that the one additional thing that could happen is that the specific banks would be open to taking a hit on their exchange costs in order to get your large deposit into their bank....
kind of like what realtors do in some cases by giving up by taking a cut on a commission in order to make the sale go through... with the number of dinar holders, i don't know if that is enough to promote cometition among the banks or if the volume is still small relatively speaking.
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Notes From The Field By Simon Black
January 23, 2017 Sovereign Valley Farm, Chile
The US dollar is now overvalued against almost every currency in the world
In September 1986,
The Economist
weekly newspaper published its first-ever "Big Mac Index".
It was a light-hearted way for the paper to gauge whether foreign currencies are over- or under-valued by comparing the prices of Big Macs around the world.
In theory, the price of a Big Mac in Rio de Janeiro should be the same as a Big Mac in Cairo or Toronto.
After all, no matter where in the world you buy one, a Big Mac generally consists of the same ingredients-- two all beef patties, special sauce, etc.
A Big Mac currently sells for 49 pesos in Mexico, for example; at the current exchange rate, that's about $2.23 US dollars.
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WSOMN:
Angel: Honestly, this is my concern, I don't know if I am wrong or right, but do you see them doing anything with the currencies considering that our Treasury Secretary is not yet in place and secondly his cabinet is not yet fully staffed. So I am thinking that we possiby could have a couple more weeks yet. Please, nobody sulk, I am just trying to reason this out like everyone else.
ADMINBILL: ANGEL...THE PRESIDENT IS MOVING FORWARD...IT IS CALLED PROGRESS...THE DEMOCRATS CAN THROW UP THEIR ROAD BLOCKS BUT IN THE END WILL NOT WIN AND WILL LOOK FOOLISH...THEY HAD BETTER START THINKING ABOUT THE 2018 ELECTION OR THEY WILL TRULY BE A MINORITY...THINK COUNTRY FIRST FOR A CHANGE
Angel: But as far as we are concerned, do we have to have the Treasury Sec. Steve Mnuchin in place for this GCR?
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WSOMN:
ADMINBILL: GOOD MORNING TEAM ... WE ARE APPROACHING GOOD TIMES ... PERHAPS AS EARLY AS LATER IN THE WEEK BUT SURELY IMO NEXT WEEK
UtahGirl: HELLO ADMIN! WHAT A GREAT WEEK IT WILL BE
ADMINBILL: YES INDEED
GEG-Dinar: Good morning AdminBill. So you are saying that we should have some form of change by February 1st? I sure hope you are correct.
Angel: GM Admin, this is my first time asking a question. Regarding Pres. Trump's view on China and trade, do you think this will have any effect on the VND? in your opinion that is!! Thank you.
ADMINBILL: ANGEL - GOOD QUESTION. I SERIOUSLY DOUBT IT. A STRONG VALUE FOR THE PRIMARY CURRENCIES INVOLVED WILL BE GOOD FOR THE REGIONS THEY REPRESENT INO.
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The below posts were in our 10am Newsletter
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Post From Dinar Updates
Chat Room News Excerpts & Highlights
loop says():High degree of optimism about Iraq's credit rating
1/24/2017 0:00 BAGHDAD / Mustafa al - Hashimi to prove the role of the private sector should be more realistic in the economic process of Iraq has become the current stage requires for institutions and private sector companies on the credit rating proves its worth , along with all ministries and government departments including gives a clear picture of the investment environment,
especially in the reconstruction of liberated areas. Confirmed economic researcher Lubna al - Shammari importance of a credit rating of Iraq in conformity with its potential in its wealth management and be the degree of classification is very close to the reality of the country , including the public gives a true and correct to investors outlook foreigners.
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SHOCK-AND-AWE #2
Did you know that the Iraqi Dinar currency had a gradual decrease when we entered into Iraq in 2003?
Around 2002 ... the IQD went down from 3.22 ... down to 2 ... down to 1 ... then down to program rate at 4,000 to 1. It didn't decrease at the flip of a switch.
We froze the rate ... instantly ... because of the sanctions that were imposed back when Iraq and Iran were at war.
Gradual decrease to a gradual increase.
I believe they are telling us things BACKWARDS.
We don't know what their current rate is ... BINGO!!!!!!!!!!!!!!
Remember ... if I didn't want you to see where I was going ... I would walk backwards ...
with my heel first. I would do this to confuse you ... and that is the middle eastern culture. Simple as that.
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KTFA:
FrostytheSnowman: Here's tonight's HIGHLIGHTS ...
*** The comments made by Frank26, Delta and others are their sole OPINIONS and cannot and should not be used as any form of financial, tax, banking or investment advice! We offer NO DATE, NO RATE on this forum!!! ***
Frank26: We have a new file to open with you tonight.
A lot has happened in the last 72 hours.
How much shall I share?
Do you want my opinion tonight family?
No one on the internet is talking about this.
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Post From Dinar Updates
Chat Room News Excerpts & Highlights
(Robert Cook/Rcookie Obituary at end of Part 2)
Sunshine1 says to larrykn():Thanks for the article. I'm not sure we ever get "accurate and up to date" info on Mosul. As much as we would like it, I think they would be crazy to give out a lot of info. "Loose lips sink ships"
larrykn says to Sunshine1():you will never get real time events but we should see what they have done, imo
Alembic86 says to larrykn():Agreed...real time updates would cause problems. Probably the information we get is only 75% accurate at best. However, when they REALLY free Mosul we will probably see the celebration on social media before we get official confirmation. As long as it gets done, I'm good either way. :)
larrykn says to Alembic86():I agree :)
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WSOMN:
About 6:00 PM EST
ADMINBILL: GOOD AFTERNOON - I JUST RECEIVED A PM FROM ONE OF OUR MEMBERS WHO SAID "From asking my Iraq friends here in town about the memo that have been sent to the embassies about raising the value of the dinar, 4 embassies been called and that turned to be not true, no memo were sent, and according to the news on various Arabic and Iraqi TV, taking back mosul is about months from now.
IT IS IMPORTANT THAT WE PAY ATTENTION TO ALL INFORMATION WHETHER IT IS GOOD, BAD OR INDIFFERENT.
I AM AWARE OF THE SOURCES I RECEIVE MY INFO FROM AND I AM CONFIDENT OF IT'S ACCURACY HOWEVER I WILL NOT DISCOUNT THOSE THAT GIVE ME INFORMATION.
I SEE NO REASON TO BELIEVE THIS NOT TRUE.
I TAKE THE STAND POINT OF THE NEWS MEDIA, I BELIEVE ABSOLUTELY NOTHING BECAUSE IT IS WHAT THEY WANT US TO HEAR , WHICH MAY NOT BE ACCURATE INTENTIONALLY.
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The below posts were in our 10pm Newsletter
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(
Thank you George for emailing this to Dinar Recaps.)
January 23, 2017 Mnt Goat News Brief
Hi Everyone,
I bring you much news today.
Iraqi army and coalition forces prepare to expand their offensive against the Sunni militants into west Mosul. Almksusi team Hatem, Director of Military Engineering of the Ministry of Defense said in a statement, "it was setup and configuration to erect bridges in Mosul to connect the east and west side, after it was destroyed fixed bridges and key by al Daesh."
(
sounds like this week that are going
to begin the offensive battle in the western section of the Mosul region. We know the North and Western areas are the last remaining areas not completely liberated. How long will this take? We wait for more news to come....As I write this news letter I was just informed the northern section of Mosul is not liberated. Let's wait and see what they tell us in the news. Remember we wait for the pm Abadi to make a formal announcement of the total liberation of Mosul. This is our queue that the CBI might launch those lower denoms and get this process rolling. This could literally happen in the next week or less.)
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Notes From The Field By Simon Black
Trump says the dollar is "too strong". Here's what to do.
One thing's for sure: the next several years aren't going to look anything like the last.
We can make a lot of guesses about what happens next with tax policy, international trade, relations with China, etc.
But there are a few things we can be almost certain about.
One of them is that the
massively overvalued US dollar is bound to fall.
The US dollar has been at record highs for most of the last two years. And in the last few months it's gotten even stronger.
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