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Adam Montana weekly - February 19, 2014

dinar rv revalue iraqi dinar cbi update currency exchange IQD

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#1 Adam Montana

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Posted 19 February 2014 - 09:58 AM

HAPPY WEDNESDAY EVERYONE!

 

Another week has gone by in the land of dinar with no revalue, but let's not despair. Despite the crazy opinions you might read out there (by both pumpers and loppers), it's best to always keep in mind that 85% of what you will hear or read are just that... an opinion. The other 15% might be fact, but at the end of the day I have one more fact for you:

 

NOBODY can prove that the dinar will or will not revalue. 

 

If you bought into the dinar because you need a quick payday... maybe you should sell your dinar.

 

But if you bought into it because you believe the fundamentals are good and there is indeed a chance to make some money... then stay in! But most importantly, stay level headed and ignore the yahoos, clowns, gurus and anti-gurus out there. You know what they say about opinions... they're like butts. I know you have one, but I don't need it shoved in my face, and most likely I don't care to hear it.

 

On that note, here's some positive news!

 

1. UAE opens office in Erbil. http://iqd.me/l/w03-

 

2. A slew of articles supporting the CBIs ability to maintain the stability of the dinar and expressing the need to support the CBI's "measures" (which happen unilaterally, by the way!). http://iqd.me/l/w040 and http://iqd.me/l/w042

 

(I know I'd support a "measure" to increase the value!)

 

3. Barzani actively engaged in HCL discussions: http://iqd.me/l/w041

 

I found a few more, but to sum it up... no RV at this immediate time, but with all this positive movement, I'm going to stick it out for a bit longer. And I'm glad you're here with me! (Except the trolls... the trolls can go away.)

 

Ok, here's the weekly questions!

 

====== Part 1 ======

 

 

Hellifiknow You seemed real excited about BIS news a little while back.....?????

 

 

That hasn't changed at all! We obviously need a little more before we can cash out, but that news was and is still awesome in my opinion. :twothumbs:

 

 

yendor I understand that you don't have a date for this "happening", but as for the rate, are you still sticking with the $0.10 or do you think it could hit higher .... and what WILL determine the rate, in your opinion ?

 

 

That's a fair question. I'm actually leaning towards a higher value the longer this takes. Depending on how the dollar holds up, a higher rate may not get us much more... but the longer Iraq has to make improvements and progress, the stronger they will be.

 

 

texasnugget I have been a platinum vip for several years and was able to view Adams chats, however since the new format I can't seem to find his chats. I have looked all over the site. If you could tell me where to go for the chat each week I would appreciate it.

Thanks, motorrev

 

 

Hi Texas, the weekly chats are almost always posted Wednesday mid-morning in the Chat Log section. Here's the direct link if you want to bookmark it: http://dinarvets.com...m/15-chat-logs/

 

 

djgabrielie After crunching the Currency Auction Data, I come to the realization that Iraq is running on USD rather than IQD. We don't seem to be waiting on events such as Erbil, CH7/8 or the 2014 budget but rather Iraq becoming a International tradable currency. How do you feel about that?

 

 

Actually - my answer is going to explain why I don't pay too much attention to the auctions. Iraq is not "running on USD" - they have a currency (IQD) that is pegged to the dollar (USD) and the purpose of the auctions is merely for the CBI to control the money supply, inflation, and the value of the dinar.

 

With that said, I do still believe that the keys to progress here are still the same (such as Erbil, HCL, etc).

 

 

yaker Thanks to you and all your staff for this great honest web site!!! With all the encouraging news over the last two weeks, in your estimation and we won't hold you to it...

 

 

 

Tomorrow at $7.54! But you can't hold me to that.

 

 

kgreen I have two questions; 1. If the IRS is now requiring foreign bank accounts to report annually for domestic tax purposes, what advantage(s) are there for having an offshore account? 

 

 

1. Offshore accounts are still very valuable for asset protection. The full answer to that question is explained in great detail in the VIP section - click on the links in my signature below. (If you have further questions on it, post in the VIP section.)

 

 

 

new york kevin I was watching some financial news from Australia on CNBC, they had a segment it said that the USD is under pressure from its major competators on the Forex such as Japan, Yuan, Rupee. and Australian dollar while QE programs in all of these countries are dialing back (US included). They also said that even with the recent safety challenges facing a large part of the ME, (and Iraq) that the ME remains a positive place of investment given tourmoil in the smaller emerging market countries. To me, this seems encouraging for those of us who are in the IQD as a investment as it shows where the money is trending. Do your sources agree with this thinking? Also, can the larger competiting countries be involved in this as a formula by which Iraq can lower its RV costs or is this thought more of a common conspiracy theory on my part?

 

 

NYK, as always you come up with great and thought provoking questions!

 

In a word - yes. Yes, I do agree with you. :twothumbs:

 

 

skeetdog What's Up Adam....I keep lookin' for some intel on the smaller denomination dinars and or coins that in my opinion must be implemented before a RV/RI...All I've heard was the gold coinage minting for dinar exchange only, my question, have you heard any documentation confirming that smaller dinars have been printed?  

 

 

MY sources told me several years ago that smaller denoms were indeed either printed or ready to be printed... but obviously we won't see them until the rate is raised significantly. Since that hasn't happened yet, it's not surprising that we haven't seen them or heard much news about them 

 

:twocents:

 

 

===== To be continued shortly. =====

 


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Disclaimer: The information and content provided above is the opinion of Adam Montana, and is being provided for entertainment purposes only. Neither Adam Montana nor dinarvets.com assumes, and hereby disclaims, any liability to any party for the content or information herein, or for the consequences of any actions taken on the basis of the information provided. Taking any action in reliance on the contents of this information is strictly prohibited. The information is not financial, legal or other advice and is not intended as a substitute for the advice of qualified professional advisors. Before taking any action you should consult with your own financial advisors, attorneys and other professionals.
 


#2 softwalker

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Posted 19 February 2014 - 10:06 AM

Thank you Adam!  Continue on...


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#3 brbrlocke

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Posted 19 February 2014 - 10:09 AM

Thanks for the chat.     :rocking-chair:             


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In life you can absolutely count on one thing, - everything can turn around in one day, in one minute sometimes. Don't you dare to give up, - you might be a moment away from a windfall.

#4 psdon

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Posted 19 February 2014 - 10:13 AM

post


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#5 nannab

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Posted 19 February 2014 - 10:14 AM

Thank you Adam for the update. Common sense told

me about 9 years ago that this would be ok for long down

the road like other choices I made.  Lucky for me they did

so what is one more.In the end I am not going without ,

 I did get an education that is priceless along with all of the good

and knowledgeable people I have yet to meet.


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#6 eburt

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Posted 19 February 2014 - 10:20 AM

Thanks for the update Adam - I guest we will have to continue to wait and wait and wait - I guest you are correct no one really know if Iraq will ever RV their currency or not - I guest we may find out in another week and/or 5 years.....


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"I will persist until I succeed - The prizes of life are at the end of each journey, not near the beginning; and it is not given me to know how many steps are necessary to reach my goal. One step at a time is not too difficult - I wll persist until I succeed"

GO RV!!

#7 skeetdog

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Posted 19 February 2014 - 10:29 AM

Thanks Adam...Guess I'm inline for a neg also...Some people need to get a Life....and to the nagger  :moon-from-car:


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#8 Adam Montana

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Posted 19 February 2014 - 10:44 AM

===== Part 2 ====

 

 

 

stealthwarrior Good Morning Adam,these items that Iraqs parliament are dealing with seem like ticky tacky items that could be dealt with at any time.what do you think is the REAL reason they don't push the RV button?Thanks Brother

 

 

Parliament isn't in control of the rate - the CBI is. Regardless, I don't think they'll keep the rate suppressed forever, so I'll hang tight. :)

 

 

mrref  Adam you can respond to this if you like, but its just a statement, thanks: It makes one wonder just "how qualified" these financial people are over there in Iraq. Ask any 4 year old the best way to get someone to stop using one thing is to make the other thing more valuable. Iraqi's will never stop using the dollar as long as it's more valuable than the dinar..........or the dollar is simply lifted from the hands of the Iraqis. IT'S REALLY THAT SIMPLE

 

 

There's another way to look at that... what if they ALWAYS use both currencies? For example, Belize. The USD is worth (2) Belize dollars, and for the most part nobody cares which one you spend. The conversion is easy (.10:1 for the dinar would be easy!) and it makes exchanges very easy.

 

:twocents:

 

 

boosterbglee Adam, who's going to know about the RV first, you or Yota? 

 

 

I hope Yota messages me if he hears first!! :lol:

 

 

poorman Adam:   I know it's gull dong Wednesday . WHAT DO YOU THINK OF THE [other currencies]

 

No time to get into all the other currencies, so I'll stick to dinar for this week :)

 

 

 

phlip This is kind of a follow up to digabrielie’s question about IQD international tradability.

At a Major RV of 10 cents to the IQD an existing Bremmer IQD10,000 note would immediately be worth US$100, while (later when they are finally issued) a new IQD100 note would be worth only One USD ~ and the IQD100 note is one of the highest new denominations announced by the CBI so far.

At a Major RV of 10 cents to the IQD, if an Iraqi citizen goes to his local bank and trades his IQD1,000,000 in cash for US$10,000 in cash, what in the world would give that same Iraqi citizen an incentive to trade that same US$10,000 back to that same local bank for only US$100 worth of new lower denomination IQD notes?

If at a Major RV of 10 cents the largest new IQD note of IQD100 is worth only One USD would that make the new IQD currency more or less internationally tradable?

 

 

It doesn't matter what the rate was yesterday, this morning, or tomorrow. When you take a note in to exchange for different currency, the rate is set. You pay the bank fees and get the appropriate amount back, regardless of what the rate used to be.

 

Candy01 Hi Adam,  MUST the budget be passed 45 days before the elections on April 30th?  This would mean the budget would be passed by March 15th.  Your thoughts please.   

Thanks!

 

 

Parliament can pass a bill in the middle of the night, the CBI can up the rate without any approval from congress, or any number of things could happen. There is nothing written in stone with IRaq. :twocents:

 

 

RobLe Saudi Arabia's currency is kept low and all oil is traded in petro dollars so the Saudi's with oil money get paid in US dollars. All the citizens of Saudi Arabia are kept using their own currency which is very low. What is your opinion on Iraq doing the same thing. The wealthy get richer and all other citizens are stuck with a currency that has little value. Cannot Iraq keep this going for years to come? I get the theory that they want outside investments from around the world…. but maybe the leaders of Iraq don't really care as long as they maintain their power and money. 

 

 

I believe the Saudi Ryal is about .27 to the dollar right now? I'll take that low rate :)

 

 

soonerdoc Being in this for close to 10 years and wonder more now than ever how they an support any significant RV.  Human minds can't comprehend trillions as here is an example.  1 trillion dollars is equivalent of someone spending 1 million a day for 2,000 years.  It's estimated that their are 30 trillion IQD in circulation, so it would take a person to spend a million a day for 60,000 years to reach that!  How can Iraq seriously RV with this amount?  I've been so optimistic for a long time but lately, I just don't think it is possible for anything other than maybe a small return which is not what most of us got in to this for.  I sure hope I am wrong.  Thanks!

 

 

Simple - the 30 trillion is not USD, even though the lopsters and nay-sayers like to ignore that fact. RV that 30 trillion to 10 cents USD and how much is it? A lot less! Also, how much credit is the world willing to give to Iraq, considering their huge amounts of natural resources?

 

Now, this is just my opinion... but I definitely see room to grow. :twothumbs:

 

 

waitingondinar Adam,  i know progress is being made, but did't you think the RV was going to have happened by now? 

 

 

I had certainly HOPED to see it done by now!!!

 

Either way, as long as things continue to hold steady or improve, I am not selling out. Worst case scenario is most likely a small increase to the point that we all get out a little ahead. (Anyone that bought dinar back in the beginning of this saga has ALREADY made money!)

 

And on that note... for the rest of the weekly news, I'll hand it over to Nadita! http://iqd.me/l/w044

 

:lol:

 

GO RVVVV!!!!!

 

- Adam

 


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Fact: VIP members are positioned to make thousands more than they spend on VIP fees. Want to know how? Read up on the BENEFITS of Dinar News Network.

Read my Blog :: Benefit from my RV INTEL book! :: Download the free "Cash In Guide" HERE :: new.gifText message service!

 

EVERYONEWhitelist my emails to you with this link: Whitelist Instructions.

 

VIP MEMBERS before you do anything, please start here:

1. What you get in the VIP
2. Text message Service (Free for VIPs)
3: VIP Certificate FAQ
4: Get your Certificate NOW
5. Download Adam's Book and the Cash In Guide (Free for VIPs)
6. Protect your investment: $520,000 in 10 years




Disclaimer: The information and content provided above is the opinion of Adam Montana, and is being provided for entertainment purposes only. Neither Adam Montana nor dinarvets.com assumes, and hereby disclaims, any liability to any party for the content or information herein, or for the consequences of any actions taken on the basis of the information provided. Taking any action in reliance on the contents of this information is strictly prohibited. The information is not financial, legal or other advice and is not intended as a substitute for the advice of qualified professional advisors. Before taking any action you should consult with your own financial advisors, attorneys and other professionals.
 


#9 aitshioud

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Posted 19 February 2014 - 10:48 AM

Thank you very much for the web forum the updates, and the troll eradication program ;)
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#10 ridinhigh

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Posted 19 February 2014 - 10:50 AM

Dinar on the forex is showing as 11.6 instead of 1,172.7 of yesterday. is that a typo, glitch? Or... what?


http://www.barchart...._Dinars/^USDIQD


Or am I reading this wrong?


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#11 boosterbglee

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Posted 19 February 2014 - 10:54 AM

Adam, thanks to you and the Mod's for all that you do for us!  Go RV!  :)


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#12 ridinhigh

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Posted 19 February 2014 - 11:11 AM

it seems to have been a glitch, the site changed it back.
just got excited :shrug:


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#13 calkid11

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Posted 19 February 2014 - 11:48 AM

Thank you Adam for the good answers today, also thank you Mods for all your work. GO RV
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#14 vietnam1969

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Posted 19 February 2014 - 12:02 PM

                          Thanks Adam


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#15 Francie26

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Posted 19 February 2014 - 12:13 PM

Thank you Adam for the update. Common sense told

me about 9 years ago that this would be ok for long down

the road like other choices I made.  Lucky for me they did

so what is one more.In the end I am not going without ,

 I did get an education that is priceless along with all of the good

and knowledgeable people I have yet to meet.

What about all the good and knowledgeable people you have already met? haha That's funny.


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#16 djgabrielie

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Posted 19 February 2014 - 12:14 PM

Adam Montana - Actually - my answer is going to explain why I don't pay too much attention to the auctions. Iraq is not "running on USD" - they have a currency (IQD) that is pegged to the dollar (USD) and the purpose of the auctions is merely for the CBI to control the money supply, inflation, and the value of the dinar.

 

With that said, I do still believe that the keys to progress here are still the same (such as Erbil, HCL, etc).


djgabrielie - We will have to agree to disagree then. Much of a currency auction comes in the form or cash in USD. The other portion is for "Transactions" both of which are tied to the IQD.  These "Transactions" as well as the "Cash" portions fund projects, payroll, and payment for goods and services. Yes it is to control money supply, inflation and the value of the dinar but it does have a fixed rate 1166 or the market price 1222.

 

Further, the street merchant actually accepts USD as readily as IQD and does conversions from USD to IQD per transaction. Usually not done IQD to USD.

 

 


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Djgabrielie

#17 katiegirl

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Posted 19 February 2014 - 12:15 PM

Thanks, Adam.... I enjoy your chats, but, I especially enjoy the after-chat-ter. The humor keeps me smiling.  :rolleyes:


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#18 DNAR

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Posted 19 February 2014 - 12:30 PM

ParQuote

mrref  Adam you can respond to this if you like, but its just a statement, thanks: It makes one wonder just "how qualified" these financial people are over there in Iraq. Ask any 4 year old the best way to get someone to stop using one thing is to make the other thing more valuable. Iraqi's will never stop using the dollar as long as it's more valuable than the dinar..........or the dollar is simply lifted from the hands of the Iraqis. IT'S REALLY THAT SIMPLE

 

 

There's another way to look at that... what if they ALWAYS use both currencies? For example, Belize. The USD is worth (2) Belize dollars, and for the most part nobody cares which one you spend. The conversion is easy (.10:1 for the dinar would be easy!) and it makes exchanges very easy.

 

 

 

 

 

I agree with that,  I just went to Barbados and their currency worth .50 to the USD$1. Take either their or USD currency anywhere on the island.


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#19 Dinarian64

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Posted 19 February 2014 - 01:31 PM

Sorry we had to have another chat with you Adam since last week you said it might be the last one. Do appreciate all you do. And I appreciate how you've taken the tone down a notch this week you must of had a lot of people pestering you about calling the date.

I really really really want this to RV SOON!
At 3+!!!! Go RV!
In the words of LGD
SUDDENLY!!!
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#20 Stephen Dedeaux

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Posted 19 February 2014 - 02:07 PM

Thanks for the update Adam! Sounds Good!


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