[Adam Montana] ok, Good morning everyone! Welcome to the three billionth Wednesday Dinar Chat session! We have a short list of questions today, which is great because I want to give you something to think about
[Adam Montana] One word: Redenomination.
[Adam Montana] There are a few articles out right now that talk about removing the zeros. The l0psters point at these articles and scream "SEE? SEE?! YOU'RE SCREWED!"
[Adam Montana] I disagree for one VERY simple reason, which I'll give in response to one of the questions in a second. I think you're going to agree with me, no matter which side of the fence you sit on
[Adam Montana] kcw, fire away!
[kcw] cgbrown Is "Shabbi" gone or not? If so what does this mean for our investment
[Adam Montana] He's not gone FOR NOW. There is a LOT of confusion on this matter, and since the news isn't helping us understand, I have sent several emails to contacts in Iraq that SHOULD have a clearer understanding. The best answer I've received so far is this: NOBODY knows.
[Adam Montana] Same goes for Maliki. There was talk at one time that he could only run two terms, but that was never actually made permanent, so he COULD technically run a third term. Then there's talk right now about a "secret" agreement between the Kurds, Iraqya List, etc to replace him with someone else
[Adam Montana] now, if both Shabibi AND Maliki get the boot at the same time, this could be a prime opportunity to make some drastic changes and change the rate
[Adam Montana] if you keep up with local politics, you can relate this to what happened in Wisconsin recently. The former governor had kept the status quo for years and years, and the state was going nowhere except into debt... kind of like Iraq is doing right now. But people put up with it because it was "normal". Then a new governor pops up, rocks the boat, and half the state is mad as heck... but the debt is gone. MAJOR change was made as soon as a new face was behind the governors desk.
[Adam Montana] I'd love to see something like that happen with IRaq. Boot Shabibi and Maliki, slip in a couple of new faces that aren't just keeping the status quo, change the rate of the DINAR, and ride it out!
[Adam Montana] if that's the plan, we will have to wait until next year to see it happen. It could take that long, as much as I hate to say it
[Adam Montana] however... there's more going on than that. There is talk of redenominating, of printing new currency, of making the dinar stronger SOON.
[Adam Montana] kcw, next question please? Everything I just typed leads into the next question
.[kcw] Roadrunner Adam, First of all, thank you for everything you do. I believe that I speak for most people here when I say this. We appreciate your efforts and we value your opinion. My question is about this 816 Billion we have been hearing about. Is it something that would be a game changer as for as an RV goes, or is it just blown out of proportion? Also, do you have an opinion on how much (if any) currency has been pulled out of circulation. It appears to me that if their reserves are bigger than we thought, and if there is less in circulation than we thought, we may be pleasantly surprised with how this thing wraps up
[Adam Montana] 816 billion USD in reserves
[Adam Montana] and pulling the money out of circulation
[Adam Montana] Let's take a second to understand these two things.
[Adam Montana] A lot of people are saying that the dominance of USD in Iraq is a sign that the Dinar is weak and is evidence that we are losing money here. Besides the fact that the dinar is indisputably stronger now than it was 4 or 5 years ago, I have another reason to strongly disagree with those people
[Adam Montana] If they do a straight redenomination, they will be reprinting lower denominations and pulling the larger notes out.
[Adam Montana] but if they aren't going to also raise the value, WHY would they do this?
[Adam Montana] There are 2 obvious negatives to it.
[Adam Montana] 1. Imagine if our country suddenly changed ALL of our notes. Suddenly everyone would be slightly confused with the new notes, and counterfeiting would SKYROCKET. Counterfeiting costs the government money, and unless they change the rate there is NO NEED to print new currency.
[Adam Montana] 2. If they aren't going to change the rate, why would they spend all that money to print new currency? It would be a complete waste of money.
[Adam Montana] The only way it makes sense to reprint the currency is if they not only raise the value, but also KEEP the value of the older notes.
[Adam Montana] Now, I know that's a strong argument for a 1:1 revalue, but keep in mind there's other ways to do it.
[Adam Montana] But I have one more thing for you to contemplate
[Adam Montana] if they were to drastically raise the value of the dinar, it is in their best interest to have as little dinar in circulation as possible
[Adam Montana] if the citizens prefer USD at this time, then the CBI can continue sucking dinar back in, which leaves less on the street. THEN when they raise the value, suddenly the Iraqis will WANT IQD instead of USD. This is a NO-BRAINER!
[Adam Montana] When the Iraqis suddenly want IQD instead of USD, we have DEMAND. Demand drives price, so this sudden demand will help to FURTHER RAISE THE VALUE.
[Adam Montana] Chat isn't always the best place to convey a message, and I know that was possibly a lot to absorb, so I'll stop there. I'll answer questions in the thread later if any of it was unclear.
[Adam Montana] next please!
[kcw] catone Adam - First of all, thanks for all you do Secondly, (and I truly do NOT mean to sound like a whack-o), could all the confusion, mis-information and alleged power-mongers simply be a way to confuse us all? I have done a LOT of research on what is supposed to happen to "the Dark Cabal' and recent events in the world of finance bear out what has been forecast. I truly think that we are in for a LOT of "surprises" as forces stronger than the age-old bad guys start rounding them up and using the internment camps originally built for citizens of our country as their "holding facilities". The resignations and arrests that we are presently aware of are only this "tip of the iceberg" and many more unforseen "bad guys" are to be detained and removed from power. Can this not be happening in Iraq?? If so, then the alleged good guys may become the bad guys and those who've been waiting in the wings will emerge as the correct and rightful leaders of this new economy?
[Adam Montana] I love how you started out with "I don't want to sound like a whacko BUT..."
[Adam Montana] no, you have a good point. I'll refer to my earlier statements on the possibility of Shabibi AND Maliki being replaced at the same time.
[Adam Montana] and it's quite possible that exactly what you stated will happen
[Adam Montana] but I try not to sound like Art Bell in chat, so I'll just move to the next question
[Adam Montana] next please!
[kcw] MillieChatham As an ignorant newbie I am learning a lot and I thank you all for that, I have noticed the questions about where the de la rue machines are. I just googled. delarue.com which brought up the company website with lots of interesting information. The site says they have 150 central banks and 5000 financial institutions as customers. My question for Adam is (since he knows what he is doing and I don't ): have you considered contacting the company directly and asking where the machines are located? Much appreciation for what you are doing
[Adam Montana] Good question.
[Adam Montana] I have spoken to the company several times, in fact. To summarize what they told me - first, they won't disclose who their clients are .
[Adam Montana] Second, even if they did - they wouldn't be able to tell us where the machines CURRENTLY are, they could only tell us where they originally went.
[Adam Montana] That's not a problem, though. We can call the banks themselves and simply ask "do you have a de la rue machine?"
[Adam Montana] I've done extensive research on the matter and I have a very thorough list of locations that currently have the machines, and I am also in touch with the right people that will tell me where the machines are being moved to after the RV
[Adam Montana] This is something I will be sharing with the VIP members on an ongoing basis after the RV
[Adam Montana] a lot of the banks HAD a machine on site, but since they don't deal with the Dinar at this time they have moved it out of the bank to save space
[Adam Montana] there's no need to keep it onsite if it's not being used
[Adam Montana] major bank chains have moved them to their corporate warehousing facilities. So some locations will get a machine onsite faster than others
[Adam Montana] just something to keep in mind.
and like I said, I will be sharing the exact locations and expected arrival times and dates with VIP members after the RV. When the value goes up, and you go to cash in, if you don't go to a bank with a de la rue machine you will most likely have to wait to get any cash back. They will have to ship your dinar to a location that DOES have a machine for verification.
[Adam Montana] next please!
[kcw] sporter Hi Adam, Thanks for all you do. I have been in this investment a long time, and do not have the tiime or emotional fortitude to ride the rollercoaster of all the gossip, rumours, daily "news", etc.! I try to ONLY read your Wednesday chats (and your emails of course) to preserve my time and emontional balance. So, I'm writing to say thanks for the "news summaries" that you give us in these chats, and to ask you to please spell out as much as you can since I (and many others I imagine) are not "up to date" on all the week's issues before reading your chats. Thanks again!
[Adam Montana] You are very welcome, Sporter! I do what I can for you all here.
[Adam Montana] next please!
.[kcw] Jim1997 Hey Adam, thanks for all you do. I was wondering why you have changed your opinion about the "now to september train" to us not having to wait that long. Is there something coming down the pike? Thanks.
[Adam Montana] My original reason for September was based in part on what seemed to be a CONCRETE intention to redenominate by September. With that plan, they would have HAD to make a move before or on that September date
[Adam Montana] now that they've retracted that plan, they can either a) do it SOONER, or b ) do it LATER. The only thing holding them up at this point is Chapter 7 and the HCL. With the Kurds threatening to cause trouble, the value of the Dinar apparently sliding out of control, I think they need to take IMMEDIATE ACTION in order to maintain control of both the country and the dinar.
[Adam Montana] therefore, I see a good possibility of this happening even sooner than September
[Adam Montana] of course, there is a flipside to it.
[Adam Montana] Like I said earlier, the more IQD they suck out of the current market, the more demand there will be when they change the value.
[Adam Montana] so in a sense... the longer they put it off, the higher value they can get out of it
[Adam Montana] obviously I'd love to cash out tomorrow... but if I have the choice of "cash out tomorrow at a dime" or "cash out next year at a dollar"... I'm going to sit back and wait.
[Adam Montana] next please!
[kcw] Sonnet Hey Adam the articles going around (a friend sent to me . . . I do not go anywhere but here) "Iraq Decides to Halt Plans to Redominate Iraqi Dinar," that does not necessarily mean that they will not ReValue, though . . . right? (They sent me a link but I am not posting unless you request it.) Thank you for all that you do for us . . . I really appreciate and hopefully, we will all get to meet you soooooooooooooooooooooooooon when we have an RV!
[Adam Montana] you are correct, a redenomination does not have to be tied to a revaluation, nor does it eliminate a revaluation. Good observation.
[Adam Montana] ok friends, that was it! Thanks for tuning in, thanks for being here, and if you missed any of it - check the chat logs forum.