EFTA02434249.pdf

To: Jeffrey Epstein[jeeyacation©gmail.com] From: Nikolic, Boris Sent: Wed 12/9/2009 9:02:28 PM Subject: RE: Calling you in a minute! From: Jeffrey Epstein (mailto:jeevacation@gmail.com) Sent: Wed 12/9/2009 3:47 PM To: Nikolic, Boris Subject: Re: hows 4 est On Wed, Dec 9, 2009 at 12:35 PM, Nikolic, Boris IMa wrote: Agree. In matter of fact, the use of barter still exists. Some sites such as Craig list are using it. It is not predominant mean of trading on these sites but exisits. Making a global (and focused) Barter site could be big. It would be cheaper (cuts conversion/transaction costs) and perhaps preceived as more fair (as you said money is like vagina - you would still get it, but without seeing it). Money should be still used to cover final transaction cost to the site (although even barter could be used there). Can you talk any time between 1pm and 2:30pm PST - 4-6:30EST your time? B From: Jeffrey Epstein (mailto:jeevacation@gmail.com) Sent: Wed 12/9/2009 12:44 AM To: Nikolic, Boris Subject: Re: ffm only as a quasi currency.. barter is the biggest , Ebay makes no sense it need no computing power only , listings.--- if you want a boy and i want a girl, , we should simply exhange one for the other, however one of us is going to have EFTA_R1_01505801 EFTA02434249 vaue left over.. ( obviously debatable, which one ). rare to find a perfect barter partner, what we should do is have a computer say , boris you deliver the girl, jeffrey the boy, sam a car, melanie a watch, and make the however it is value in switch .At the essence money is only to account for the difference of what we have to trade. when should we speak? oris < > wrote: I was thinking of FFM for a while. I love that system. Taxes are the problem, although IRS has already placed some system in place. In addition, if becomes a bigger issue governments would place new taxes if system becomes bigger. the award free they are so should of 1997 effect on marketing frequent went user, Nonetheless, in my mind taxes are the smaller problem. 1) Also, aren't FFM awards taxable? As far as a direct tax on the most recent IRS ruling states (with some equivocation) that tickets are taxable IF they are earned in the course of business travel AND used for leisure travel. This rule has proved too difficult to apply, enforcement has been practically non-existent. For the future, though, we never underestimate the government's appetite for tax revenues. More importantly, the recently enacted 1997 Taxpayer Relief Act attempts to tax FFP transactions covertly. This new excise tax took October 1, 1997, and will have a significant effect on airlines and their flyer partners, and on the frequent travelers who participate in programs. For a number of reasons, this change to the tax code EFTA_R1_01505802 EFTA02434250 largely unnoticed (and uncontested) by legislators and the general public. It has been dubbed the "stealth tax," a moniker which well conveys its insidiousness. While there is still considerable discussion and debate about the interpretation of the new law as it applies, e.g., to the use of miles by the host airlines themselves, and to the sale of miles by foreign-based programs, the (airline, following is generally understood and accepted: When a program partner hotel, car rental company, credit card, etc.) gives miles to a program member, the partner must purchase those miles from the airline that operates the frequent flyer program. The new law imposes a 7.5% tax on that purchase. 2) The creation of meta PPM program would be interesting. However, here we comes to the problem that to me is bigger than taxes: In my mind the bigger problem is all program partners include language in their FFP member materials that states that FFP mileage, coupons and tickets may not be sold, bartered or otherwise transferred for any type of consideration. At one time, this was a $150 million-a-year business. It continues, but on a much smaller scale because the airlines have aggressively pursued and prosecuted the brokers, become, sellers and buyers. It is very interesting to analyze the history of FFP, how they what and when enable them (very recent history). From early cigarette coupons and various stamps to modern credit card associated FFP. EFTA_R1_01505803 EFTA02434251 Nonetheless, I still prefer some kind of conversion to information. week, into frequent flier miles. is another form of world currency. . problem is reason of food poor is Please let me think about that. Have few huge deadlines this which sucks! Will call you tomorrow, Re the second part of your email - I did not know that you are elimination of discomfort, disease, or poverty!!! Boris From: Jeffrey Epstein [mailto:jeevacation@gmail.com] Sent: Tue 12/8/2009 9:09 AM To: Nikolic, Boris Subject: taxes, there is no system to tax trading in miles. so the gov't will eventually go crazy.. // The best work of the foundation would be to create money/value to be used to eliminate discomfort. disease, poverty. , there is no that a new form of distribution , can't be created. There is no shortage medicine , or information, at the moment the only thing available to the info. EFTA_R1_01505804 EFTA02434252 ****ItkifIck*Itle**********************iti**********************Ift The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. 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EFTA_R1_01505805 EFTA02434253 1,4 *********** IF*Ittititkit**************** ********* *it** ********* The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of Jeffrey Epstein Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to jeevacation@gmail.com, and destroy this communication and all copies thereof, including all attachments. EFTA_R1_01505806 EFTA02434254