Click Here or on the picture to go to Dinar Recaps website

NOTE TO OUR

EMAIL SUBSCRIBERS:


If you do not receive one or more of our emails, please check YOUR email spam or junk folder.  Even though we run each email through a filter before sending, occasionally a few people have reported that it has been misdirected by their email systems.  As a reminder, all our emails are available on our website
ARCHIVE page.  Bookmark this page now for future reference.

10am, March 8th, 2013   

Greetings!,

Our newsletter is a listing of all our blog posts.  The newsletter is sent 2 or 3 times a day.  Our email schedule is HERE.  If you cannot wait for the email, you can read our posts directly on our BLOG throughout the day and night, or follow us on TWITTER and get our blog posts tweeted to you between 10am - midnight (ET).  Our Twitter name is DinarRecaps.

 

If you like this newsletter, share with others.  

 

Enjoy our Recap Email,

 

The Dinar Recaps Team

 


Email Archive 

    

Follow us on Twitter 

 

Like us on Facebook 

 

 

 

Our Blog Posts
NOTE TO OUR EMAIL SUBSCRIBERS:
Eagle1 Opinion from KTFA Forum Early Friday AM
The IQD Team Connection with LJ~~Replay Conf Call Thur March 7~~Latest Iraq Dinar RV News
Investment Related Taxes Info - Post From Yahoo Finance
BWM at 3S's The Iraqi Budget Thursday Evening
Late Thursday Night Dinar Chatter
The below posts were in our 10pm newsletter
Foreign Currency Laws - Penalties & Risk Information
2013 Investment Climate Statement - Iraq -- U.S. DEPARTMENT of STATE Report
Frank26 Update from KTFA Forum Thursday Night
Comment left at Recaps Comment Section by REE_CHARD about taxation of a currency exchange
More SteveI and PD Member Tidbits Thursday Evening
ChatWimp Opinion on Currency Exchange and Taxes at MIG Forum Thurs.PM
The below posts were in our 6pm newsletter
Thoughts & Opinions - Post From Dinar Vets
What To Expect In Coming Days - Post From Dinar Alert
SteveI Tidbits from PeoplesDinar Forum Thursday PM
Thursday Afternoon Dinar Chatter
OCrush & Stevel Update - Post From Peoples Dinar
Short SteveI Update from Peoples Dinar Forum
Delta and KTFA Forum Members Tidbits Thurs. AM
Thursday Morning Dinar Chatter
© Copyright DRT Distribution, LLC All Rights Reserved

 

Bill A wrote on March 7th, 2013, 10:31 pm:   Hi Frank,
Would it make sense that the UN operational rates update due on March 15th could fall within this currency basket revaluation? Ultimately, RV with rate since budget is passed.

I am curious if this currency basket revaluation would stay on target with the dates on UN operational rates or perhaps just come out as a surprise.
What do you think Frank or Delta or Eagle 1?


Eagle1 wrote on March 8th, 2013, 1:44 am:

Good Evening, Bill:   After reading the various posts on the forum tonight and seeing a lot of confusion over the basket of currencies, as well as the expected devaluation of the USD, it appears that I need to try and clear things up a bit.

As we know, there are 15 currencies that are expected to restructure (and I use that word advisedly) in the coming days and weeks. Could they revalue and devalue (depending on the currency) the entire basket in one day? They could, but in my honest opinion, that is highly unlikely. If you study the historical pattern of currency changes, and the ongoing GCR we've seen since the first of the year, you see first a major currency revaluation, followed quickly by a pair of currency devaluations, followed by another currency revaluation, followed by a couple more currency devaluations.

There is a careful balancing act taking place in order to avoid too great a shock to the world economic system at one time. We are watching the USD increase in value during the current cycle.
....


 

The IQD Team Connection with LJ from LJ's Next Step Team
Straight Talkin Mike, LJ, Diana & Debbie
Investigate, Question & Deliver
Thursday, March 7, 2013
Replay of Conference Call

Conference Call Replay - March 7, 2013
Download/Playback
or
760-569-7699   Pin 769478#

ONCE AGAIN...... 
Another Great Round Table Discussion
Last Night With:
Straight Talkin' Mike & L.J. of L.J.'s Next Step Team
THE IQD Team Connection
MUST LISTEN TO CALL...

Please listen to the replay in its entirety for all the
latest CBI, Economy and Government News from Iraq


The I.Q.D. Team Connection News Coverage
for Thursday, March 7, 2013



 

Picture
Investment-Related Taxes: Must-Knows for 2013    
By Christine Benz | Morningstar -

As 2012 wound down, fairly decent-sized tax hikes loomed for 2013, and tax-savvy investors and their advisors were scrambling. Dividends were set to once again be taxed at ordinary income tax rates, long-term capital gains were to jump to 20%, and estates of more than $1 million would be taxable at a 55% rate.

In the end, however, the changes that did pass through Congress were much more modest; few individuals will have to completely rework their financial plans to avoid much higher tax bills next year.

That said, tax matters is one of the few categories that investors have a fair amount of control over:

Maximizing tax-sheltered accounts, putting the right types of assets in tax-sheltered and taxable accounts, and properly sequencing withdrawals in retirement can all help improve your aftertax returns.

 Here's an overview of some of the key tax-related changes that are taking effect with the 2013 tax year; note that I've focused on those that intersect in some fashion with your investment plan.
...


 

[BWM]  ok so conversing about the budget...

[BWM]  key word that I had explained repeatedly in regards to the budget was SEE... We've heard the budget was passed... Now it has to be ratified and published

[BWM] there are differing opinions on whether the president or maliki has to sign it before it can be published in the gazette...

[BWM] also the finance minister (who supposedly resigned a short time ago) has to review the process

 [beachdreaming] BWM what does it mean to be ratified and published?

 [BWM] now the process has somewhat of a ticking clock on it... Are also considerations that could create issues... I.e.: no signature being the biggest.

[BWM] so where does that leave us? Still at the same place we were... Nothing is official until it's ratified and published... Now the other consideration that ppl don't understand... The numbers seem low because the shared oil revenue is NOT included in the budget numbers... How do we know this? Because the Kurds asked for 4 trillion dollars to pay the contractorsthey received 750 Billion (numbers in dinar) so if their budget roams around 119B you can see that the other oil revenue isn't included
,,


 

Precious] REMINDER::::: This Sunday March 10th is Daylight Savings Time..lose one hours of sleep

[weathernut] nolaspice. It's the calm before the rv storm!

 [Shuttles] gtabdinar Hi Any news that you can share with us ??

 [gtabdinar] Shuttles I like what weathenut just said above....how's that?!?!?!   wish I had more I could share....justa' waitin' like the rest of us.

[Shuttles] gtabdinar I have a deep seated feeling that all in +ive...seems to be too much unidirectional intel to be wrong...call a sixth sense...good vibes...

BLESSME] Gtabdinar hi any good news to share ?

gtabdinar] BLESSME Nuttin' specific. But I do like the near future. I know that sux....and I know we all would l o v e to have something to chew on.....but I just HATE putting specific dates/rates and times on this stoopid thing. We can only look at what they puzzle "may" look like. I wish I had more.

[raven]  we must be real close
....


The below posts were in our 10pm newsletter

Picture
This is Part 2 of our Introduction Into Foreign Currency which covers laws - violations - penalties - risk factors - managing & minimizing risk factors - Parts 1 & 3 are listed at the end with links

We sincerely hope you enjoy the added feature of more informative posts directly and indirectly related to our investment

Comments are encouraged and will be available for viewing upon approval - Recaps Team



Foreign Exchange Transaction Laws
By Jeffery Keilholtz,

Foreign exchange is a money transfer from one form of currency to another. Foreign exchange transaction laws are a device for keeping foreign currencies accessible and acceptable to nations participating in the world market. Laws determine how rates are "fixed," the differences between bilateral and trade-weighted exchange rates and penalties for law violation.
...

http://www.state.gov/e/eb/rls/othr/ics/2013/204661.htm

2013 Investment Climate Statement
Bureau of Economic and Business Affairs
February 2013
Report


Openness to Foreign Investment

Investors in Iraq face both tremendous opportunities and significant challenges. After decades of oil-driven statist economic policy, followed by years of conflict and instability, the Government of Iraq (GOI) seeks to identify and promote policies to strengthen the country's small private sector, create jobs for its citizens, and spur economic development. Owing to increased petroleum production for export, Iraq's economy grew by approximately 10 percent in 2012, as it did the prior year, making it one of the fastest growing economies in the world. Iraq has 143 billion barrels of proven oil reserves, the second-largest in OPEC, and oil exports now stand at their highest level in 30 years. While oil generated over 90 percent of government revenue in 2011, the petroleum sector accounts for only one percent of Iraqi employment. The GOI is seeking to diversify Iraq's economy to create jobs for its labor force. Official statistics place unemployment at around 17 percent, but the actual rate is likely much higher, factoring in underemployment and discouraged job seekers.

Potential investors remain concerned about security, but are now more likely to cite regulatory hindrances, difficulties working out financing arrangements, and other practical barriers to doing business ranging from corruption to bureaucratic red tape to electric power shortages. Sectarian violence and acts of terrorism continued in 2012, but in lower numbers than during the 2009-2010 period. In 2011, foreign firms and investors reported over $55 billion in investments, service contracts, and other commercial activities across Iraq, according to private consultants. This activity amounted to an increase of 80.4 percent over 2010, while total deal value increased by 40.3 percent. The International Trade Centre (ITC) - a joint venture of the United Nations and the World Trade Organization (http://www.intracen.org/country/iraq) - estimated that Iraq attracted over $1.6 billion of foreign direct investment (FDI) inflows in 2011 (the most recent statistics available), representing an increase of approximately 52 percent since 2007.
Read More

Greetings Family..........

For those of you that are reading this at another forum besides www.ktfalways.com .......the odds are you will not understand. I have seen how my postings are butchered once copied and pasted away from its original home. I wish you well and God's Speed.

KTFALWAYS FAMILY............a great portion of you come to my CC's ......take notes and then take it to God in prayer. I thank you kindly for doing this. I also want to thank our entire TEAM for what they did last night on my thread. Kudos to all KTFA STAFF for their devoted help on our forum. So......if you have been taking precise notes then you have come to realize that we have been on target with all but one thing. I even apologized for it on Monday. I told you we would see the budget in February.........but it looks like I missed it by 7 days........again my sincere apologies

But everything else that we have given you since August concerning T.........S...........M.........masked to unmasked...........B and the Kurds all the way up to March 1st has been successful. Then..........there was last night's CC that even AZPROF said was a perfect explanation of what would happen today. That even a 1st grader would have understood it. That's because I opened up many files that we have kept closed
....
Read More

NOTE: Dinar Recaps posts this for informational purposes only.
Everyone should seek their own legal and/or tax professionals advice.


REE_CHARD said:

Below is from a quick search , and really needs to addressed by each individual , do not make a move based on what someone on these forums tell you . Make sure you know for yourself . Based on this , the above stated is not true , and it is considered a capital gains tax and is taxable over 200.00 dollars . You should not trust information you heard , you should only provide information that is researched and backed up .

The income from currency exchange is your taxable income and is reported as capital gain - long or short term depending how long you held the foreign currency - more or less than a year.

the below quote is directly from IRS Publication 525, page 30

http://www.irs.gov/pub/irs-pdf/p525.pdf
Foreign currency transactions. If you have a gain on a personal foreign currency transaction because of changes in exchange rates, you do not have to include that gain in your income un­less it is more than $200. If the gain is more than $200, report it as a capital gain.

newgm, on 07 Mar 2013 - 16:09, said:

Here is a little math some might be looking for. When you see the value compared to the UDS.

1 USD = .293 IQD Will mean $3.41

1 USD = .292 IQD Will mean $3.42

1 USD = .2891 IQD Will mean $3.45

I stopped these at the second decimal point.

Please correct me if I'm wrong?

SteveI: Ray and I played with this yesterday and it is exactly as he told me. That is the number I am looking for on the CBI website. Thanks for sharing this for all to see.

Blessings, Steve

Starshine: For simplicity: 1 USD divided by 3.48 = .2874 IQD
....
Read More
(Dinar Recaps Note: This post is for informational purposes only. It is not legal, tax or investment advice. Dinar Recaps advises that everyone should do their own due diligence and seek local Professional tax, legal and/or investment advisers.)

Chat Wimp:This seems to fit in with some of my earlier research into exchanging currencies. Currencies are "likes". The exchange of "likes" is NOT a "taxable event", however, the "matrix" is everywhere and riddled with hidden snares that sometimes catch even the most "wily" of "critters".

Subject: Currency exchange and taxes

Date: Wednesday, March 6, 2013, 11:58 PM

Subject: US State Dept Quote on Currency Exchange Taxes & RV Update
Date: March 5, 2013 7:24:36 PM EST

In discussion of taxes on this currency exchange, it may be wise to pass this US State Department report on to your CPA or Tax Lawyer for their assessment of your individual situation. Michael U.S. Department of State 2013 Investment Climate Statement Bureau of Economic and Business Affairs February 2013 Report

(This is just one SECTION. This document is a long and informative read.)

Currency Conversion and Transfer Policies (LOOK FOR THIS SECTION)
....
Read More

The below posts were in our 6pm newsletter

Yota691: "There is an understanding with Kuwait on missing persons. The Undersecretary of the Foreign Minister, however, Abawi achieve advanced steps with the Kuwaiti side with respect to file your missing Kuwaitis in Iraq, pointing to the existence of understanding almost entirely with the Kuwaiti side."

"On the subject of file Special Humanitarian missing Kuwaitis there is an understanding almost entirely about that, and ended Multi mandate of the Security Council and the Special Coordinator on this file, "noting that Iraq and Kuwait, citing humanitarian issue to the level of bilateral relations as a prelude to finally settled with the assistance of the United Nations."
...
kaperoni] Kaperoni - where we are at? What comes next now that the budget is passed. 3/7/2013

[kaperoni] I wanted to do a small chat on what to expect in the coming days...

[kaperoni] First, be assured...there was no RV in the 2013 budget. How the budget is financed is fully documented in the following article... Iraqi Budget 2013 - Background Paper

[kaperoni] LINK

[kaperoni] Today, 3/7/2013 Iraq passed the 2013 budget including 750 billion dinar to pay the Kurdish oil companies.
...


Currency3410: Does Maliki have to sign the budget before it's officially the law?

SteveI: Yes that is what we have been told. He will sign it and then to the CBI for official posting of the new rate. Blessings, Steve

********************

Mainelorax: Are we likely to hear anything more about the rate until Saturday or Sunday at the earliest? I'd like to just cool my jets with my family unless there is a possibility of more fun and games.

SteveI: Here is my best guess. It is getting late in Iraq, tomorrow and Saturday are holy days, so Sunday they may move things forward and something next week. Could it happen sooner, absolutely, will it, we shall see. I am so happy we are this far along. Man am I glad this part is over. Now we all need to start preparing for the next chapter of our lives.

Blessings,Steve

*********************

Kwanvestor: just read that Kaperoni thinks the banking and investment laws have not been passed and that they won't be until after the 19th when Pariliament resumes. He says there will be no rv until that is done and speculates the end of March for an rv. Any thoughts on that?

SteveI: Yes, everyone has their own opinion. So we wait and see. It is out of our control. Many people and groups are going to milk this Intel to the very end.

Blessings,Steve
(nolaspice] when you rise in life your friends will know who you are - when you fall in life you will know who your friends are....

[subnet52] IMO if you think you have seen smoke in the past - you ain't seen NOTHIN' yet! There will be a final push of misinformation and we all need to be grounded and be ready for it....NOT run around like our hair is on fire! Be confident in your investment choice....JMHO

[BocaLinda] Lets all remember this is not an investment. It is a CE. If what weve heard about tax implications is true!

[Papa Bear] GM Dinar Family little late today and hear we are a little jacked up

[clubber3] Papa Bear I beleive people are starting to get excited

[goin4broke] Papa Bear good morning. Hopium is alive and well today, ha ha

[Papa Bear] Stay grounded

[Jester] Papa Bear Budet opened, read three times, put in the gazette...

[tornado] If the iraq budget is in the billions then that means their currency has already RV'ed just waiting to show in banks.....JMO
....
Read More


Wow, finally this budget approval is behind us now. Ocrush sent us an email and Ray and I have verified with our contacts as well confirming all of the next steps and what is required. I will have the final draft in the download section very soon. It is almost cleaned up and ready in PDF format.

Email from Ocrush:

Ok, they added two more articles at the end of the budget (art. 30 and 31).

We are at step #30 (article 30) budget will go to the finance ministry and ministry of planning......they do what they do :) then they sent it to to iraqs Federal cabinet.

Once they approve it we head to article 31, which means to be published in the official Gazette......retroactive date will state Jan 1, 2013 :))

Hope this helps and Cheers :))
...

SteveI: Everything is approved and all blocs approved the budget but Kurdish blocs were absent, however, all of their provisions were met in the previous articles before article 12.

This is final.

Please for now ignore these articles as not all agencies are on the same page. Ray and I have talked many times this morning and to our contacts, and it is official period.

I will be doing an update if a few minutes on what is next. Blessings, Steve
....

Jim33 wrote on March 7th, 2013, 1:55 am:TY Delta. Bring on the good stuff.Delta, IYO, do you think that there is a chance that you will see a rate tonight? (This morning for you)?

REMEBER NO ONE KNOWS THE DATE AND THE RATE...BUT IMO WILL NOT SEE THE RATE TODAY. AFTER THE IMPORTANT MEETING IN JORDAN WITH THE IMF THEN .......TA.....DA. : DELTA

IT TOOK PLACE BETWEEN MARCH 5-7. IT SHOULD BE OVER DELTA

MALIKI IS MEETING WITH KURDS IN BAGHDAD BEHIND CLOSED DOOR : DELTA


DonarTattoo wrote on March 7th, 2013, 2:38 am:nn DELTA. WHAT DOES JORDAN MEETING HAVE TO DO W THE RV????
....
Read More
[Precious] OFFICIAL REPORT FROM PARLY-MENT WEBSITE House of Representatives vote on the federal budget law for fiscal year 2013 Thursday, 07 March 2013 The House voted in its fourteenth, which was held under the chairmanship of Mr. Osama Najafi, head of the House of Representatives and in the presence of 168 deputies on Thursday, 7/3/2013 on the federal budget law for fiscal year 2013.

At the beginning of the meeting initiated by any of the Holy Quran was voted on the budget bill and submitted by the Committees of Finance and Economy and investment in addition to voting on the re-separated on the background of security events in 2008 in the Charge of the Knights and the consequent in Baghdad and central and southern governorates and the appointment of mujahideen marshes and refugees Rafha as well as the introduction of grades to install Awakening in all state departments.

The estimated revenue of the federal budget for fiscal year 2013 of $ (119 296 663 096) thousand dinars (one hundred and nineteen thousand two hundred and ninety six billion, six hundred and sixty-three million ninety six thousand dinars) were calculated revenue from export of crude oil on the basis of the average price of $ 90 per barrel The rate of export of $ 2 million and 900 thousand barrels per day, including 250 thousand barrels per day for the amount of oil produced in the province of Kurdistan.

The budget included the allocation of expenses for the fiscal year 2013 amount of $ (138 424 608 000) thousand dinars (one hundred and thirty eight thousand, four hundred and twenty-four billion, six hundred and eight million dinars. The total planned deficit of the general budget (19127944904) thousand dinars (nineteen thousand one hundred twenty-seven billion nine hundred and forty-four million, nine hundred and four thousand dinars, and covers the shortfall of cash retained in the Development Fund for Iraq and internal and external borrowing and the percentage of savings is expected to increase selling prices

[Paladin] Precious . . the budget is in billions !!!
....
Read More


Join Our Mailing List 

Click here  

Contact Us

Dinar Recaps

PO Box 1090

Edison, New Jersey  

08818

 

About Us
We are Iraqi Dinar Investors who Tweet and blog the latest Dinar information gathered from public forums, chat rooms, and blogs.  Our Blog posts are e-mailed in this Recap Newsletter.  

� Copyright DRT Distribution, LLC All Rights Reserved   DISCLAIMER:  We do not endorse, support, represent or guarantee the completeness, truthfulness, accuracy, or reliability of any content or communications posted or otherwise contained on Dinarrecaps.com or any Dinar Recaps Twitter account or Dinar Recaps email or newsletter or post or any related or affiliated website or Twitter account (collectively, the "Website").  We do not endorse any opinions expressed on the Website.   Dinar Recaps is not a registered investment advisor, broker dealer, banker or currency dealer and as such, no information on the Website or Email newsletter should be construed as investment advice.  We do not intend to and are not providing financial, legal, tax, political or any other advice to any reader of the Website.  This site is merely for informational-entertainment purposes. It is not the purpose or intention of this site to influence any person to purchase or sell Iraqi Dinars or any other currency.  Do not buy, sell, trade or hold any Iraqi Dinars or any stocks, bonds, other currencies, or commodities based upon any postings or messages on the Website or referenced on the Website. You should seek and rely on the advice of licensed and registered financial, legal and tax advisors of your choice. The owners or operators of the Website shall be all be held harmless for any/all information posted on this site and Twitter account(s) and email newsletter(s). Any and all information contained herein shall be construed as "Rumor."  The owners and operators of the Website site shall not be held responsible for any information contained hereon including information provided by others.