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Adams Wed chat 8-28-2013


VIZIOIRAQI
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[Adam Montana] morning everyone!

[
Adam Montana] I'm going bold and we'll hop into our weekly chat now
[Adam Montana] Saint be safe    

[
Adam Montana] official chat starts now
Topic: official chat NO TYPING

[
Adam Montana] Morning everyone! I know a lot of us are getting back into the "winter routine" with kids going back to school and preparing for the winter months

[
Adam Montana] Every year around this time - right after Ramadan - we always seem to hit a "lull" in news.... and this year is apparently no different

[
Adam Montana] over the last week, I've only seen one really noteworthy topic show up with consistency

[
Adam Montana] The only thing to really report on this week is the articles on improving the value

[
Adam Montana] I don't really think the CBI is going to submit to any pressure, but just the same - it looks like they are trying to put it on them

[
Adam Montana] The Iraqi people want the CBI to take serious action on increasing the value... and I'm looking forward to seeing how the CBI responds

[
Adam Montana] But like I said.... not much to report today. We will see how things go over the next week or two
[
Adam Montana] Let 's just get into the questions for the week then!

[kcw] mnfarm Adam, How can there be an RV without the HCL being completed? Won't that have an effect on the rate?

[
Adam Montana] mnfarm I don't think there will be one without the HCL. I know there's a lot of people that disagree, but I think the HCL is a very big deal. :twocents:

[
Adam Montana] next please!
[kcw] Russell M Adam, two questions plz : 1-some years ago wasn't our Country's finances put under observation. ByIMF? somewhere around the time of major debt and CREDIT Ratings dropping? Second- There is murmers of our money value being "reset" possibly... Can you enlighten Us on how and if this would affect our investment AND if you have knowledge Of such info. Thanks

[
Adam Montana] Hi Russell, good questions. I don't want to turn my weekly chats into Obama bashing sessions, so I won't focus too heavily on your #1 question... but I'll answer with this:

[
Adam Montana] There is no way to spend your way to prosperity. It takes hard work and sacrifices to turn an economy around, and our government has not done a good job at all. Our credit rating and the declining value of the dollar are proof positive of that.

[
Adam Montana] regarding the "murmers" of our money resetting (I assume you are talking USD), I don't see it happening. I do see our money continuing to decline on a very predictable path.

[
Adam Montana] How does this affect the situation in Iraq? It doesn't have a huge impact. The fall of our currency is based on poor fiscal policy, whereas IRaq's potential to increase is based on their assets (natural gas and oil) and their solid fiscal operations. In my opinion, the CBI is doing a great job of maintaining their value, and if they decide to crank up the value they will do a great job of maintaining the higher value. :twocents:

[
Adam Montana] next please!
[kcw] RPMAC Adam, it has been a while since I've written, I mainly review, especially your Wednesday Chats; and I thank you for being so informative on the DV. My question (more of your opinion) is with Maliki planning to go into joint ventures with India, and the number of Iraqi's fleeing Syria into Iraq, you would think with these additional financial challenges facing Iraq he would be positioning to RV. Do you think this is more of his plan to be involved in a number of issues and as you stated last week to gain strength in order to overturn term limits approved by the Iraqi Parliament, but still with the idea of an RV, or is he doing like Saddam did under sanctions, cutting back door deals to line his pockets, without intentions of an RV? Your opinion Sir. Thank you and go RV. RPMAC

[
Adam Montana] RPMAC, it makes sense to me that BOTH could be happening... lining pockets now, with the intent to RV shortly    

[
Adam Montana] next please!
[kcw] thylocene Hi Adam, I have been here a couple of years and as an outsider looking in, the HCL should have happened by now. Do you have any insight as to why it hasn't happened yet

[
Adam Montana] It took a good decade to get Chapter 7 done, and I think it would be foolish of us to think HCL can be done in weeks... it could be done tomorrow, but it might take another year or two. :twocents:

[
Adam Montana] next please!
[kcw] Kaduku Mr. Montana, I have read some rumor that Iraq must be in and/or be a part of Article VIII in order for their currency to be recognized internationally before they can RV, what truth if any does this rumor have? Thank you very much!

[Adam Montana] Kadaku, watch out for rumors! They will ruin your week every single time.

[
Adam Montana] next please!
[kcw] yaker Hello Adam, Do you feel the potential Syrian conflict will have an effect on the RV? Thanks for all that you do!!!!

[
Adam Montana] Hey Yaker, I am confident saying that Syria is far enough removed from Iraq that we don't have to place too much emphasis on that. :twocents:

[
Adam Montana] next please!
[kcw] CDS396 Good Morning Adam my question is about the CBI. Why do you think the the rate at the CBI never ever changes with all that has happen in the last month or two you would think that it would up or down at least sometime. Anyway Thanks for all the hard work I know that you put in the DV. Have a Great Day

[
Adam Montana] CD, thank you for that question!

[
Adam Montana] My answer is actually one of the biggest reasons I have for sticking this thing out... if the CBI can successfully maintain the current rate for so long, don't we have to acknowledge that they are in FULL control of the rate? And if that's the case, don't we also have to admit that if they raise the rate, they will be able to control it even at the higher rate?

[
Adam Montana] My point is that the CBI is in full control of the rate, and if they decide to move it up - then they will move it up. Bada bing, pow, DONE.

[
Adam Montana] next please!
[kcw] sorry that was the last one    


[
Adam Montana] well if that was the last one, thank you all for tuning in! With any luck things will start picking up again shortly... but for now we
[Adam Montana] are in the "hurry up and wait" boat.

[
Adam Montana] cheers everyone!

 

[Adam Montana] ok everyone I'm out for now, have a good day!

 

 

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I am sort of bummed about the comment that the HCL taking a couple more years. I had thought this was close.

Me TOO, Northern Lights!

 

I am starting to feel I have WASTED three years of my life on this investment and should just put my damned Dinars in the safety deposit box and forget about them for a LONG TIME!!

 

:rolleyes:  :angry:

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Me TOO, Northern Lights!

I am starting to feel I have WASTED three years of my life on this investment and should just put my damned Dinars in the safety deposit box and forget about them for a LONG TIME!!

:rolleyes::angry:

Most of us were initially told we would be over night millionaires, apparently that was a lie.... after 3 years we've all had to take a dinar break every now and then maybe it's your time now..
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I have read many "positive" articles stating that the RV must be done by June 2014. I am holding on now (also after 3 yrs.) to that hope, unless of course, the whole middle east does not annihilate itself.

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Well the tone of this chat is a far cry from the "any minute now" super hype we are seeing other places... unfortunately, rightly so... aside from Iraq being out of Chapter 7, it seems we are much in the same place as last year at this time... waiting without knowning "what we don't know" to make this investment materialize...  back to the fall grind I guess, which includes putting the IQD in the sock drawer and waiting...

 

Nothing really happens after the 2nd week of November in the financial markets so maybe we have a good 8-10 weeks to see if we get a change in value this year... othewise, see you all in February 2014!

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What's with all the negs on so many comments?

Someone even nagged Adam!

I gave pluses to get rid of the many negs. Someone is having a very bad day, or life!

 

Stay positive & smile and count your blessings, no matter how small.

Today's moments are tomorrow's memories.

Make them count!

Thanks as always to Adam & mods for this site, keeping us sane.

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