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