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Adam Montana

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Adam Montana last won the day on April 26

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About Adam Montana

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  1. Good morning all! It's currently Wednesday July 10 Thursday July 11, and IF all goes well - I'll get this posted before my day gets out of control! Back in the forefront of ReValuation (RV) news... HCL. We've made it through Ramadan, budgeting, elections, and a whole slew of other issues. All of them, although lengthy at times, have sailed successfully through the turbulent waters and left us with a final component: HCL. Good news for this morning? It's actually on the horizon. It's being talked about, and I'm predicting we'll see more of this very shortly. For example: Adding fuel to the HCL fire: WTI just crossed $60 again, and those of us watching the OIL tickers recently are well aware of how stable OIL is right now. Those of us pairing that information with the current and ongoing situation in Iraq understand how important OIL is to Iraq's ability to RV. And in case anyone needed some reassurance... ... it's going as perfect as we could hope for. There will never be an absolute perfect set of circumstances under which Iraq "can" or "should" or "must" change the value of their currency. I see a fair amount of comments from people stating something like "Oh, Iraq will never RV unless X happens, or until Y is implemented", etc etc... ... that is simply not true. There is NO absolute "must" for Iraq. They can change the rate today. Or yesterday, or tomorrow. They can do it without any further progress, without any permission from anyone or anything, and all the speculation in the world won't give us an exact date or a precise set of circumstances. The situation we find ourselves in today, at this very moment, is "good enough". Personally, I'm on standby for an incredible event. A solid resolution on the oil and gas law (HCL) will mean "no turning back", but just the same - it's not a necessity. Pretty darn exciting, if you ask me. That's it for the Weekly summary - there's a lot going on right now, but I like to keep these Weekly posts "to the point". GOOOOO RRRRVVVVVV!!!! - Adam PS. Side note! I use a LOT of news sources to keep abreast of the latest happenings, not only in Iraq but just "in general". My absolute favorite recently is "The Brew" - click that link to get it yourself. 100% free. This is not a paid post, I'm just sharing because I really enjoy it, and I hope you do too! (Valuable tip of the day from the Brew? Disguise Netflix with this Chrome extension to make your desktop look like you're on a conference call )
  2. Link: https://www.rudaw.net/english/analysis/090720191 Oil and gas laws: a crux of Erbil-Baghdad tension By Omar Moradi yesterday at 11:14 Iraqi forces drive past an oil production plant as they head towards the city of Kirkuk on October 16, 2017. Photo: Ahmad al-Rubaye | AFP The lack of oil and gas federal legislation has been the root cause of problems between Erbil and Baghdad since the Iraqi constitution was approved in 2005. Now there is a government in Baghdad that has shown its desire to resolve these problems through dialogue, and the success of the new Kurdistan Regional Government (KRG) cabinet depends on whether the oil and gas issue is resolved with Baghdad. According to the constitution, it is the joint responsibility of both the federal and regional government to develop oil and gas resources through a particular oil and gas legislation. But as of yet, no such legislation has been passed, causing disagreements between the two governments. Iraq's parliament unsuccessfully tried to pass a law on oil and gas in 2007. Following that, Kurdish parliament passed its own oil and gas law that same year, allowing the KRG to handle and develop the region’s natural resources. The Kurdistan Region parliament’s oil and gas law gave it complete power over the region’s natural resources, much like an independent and sovereign country. The conditions of the oil market along with the law helped foreign companies invest substantially in the oil and gas sectors in the Kurdistan Region. Investments in Kurdistan Region’s oil and gas sectors reached its peak when oil prices were high pre-2014, surpassing $20 billion. But after oil prices fell in mid-2014, the Kurdistan Region and the rest of the world's oil investors faced a deficit. This shock was especially big in the Kurdistan Region. The federal government in Baghdad cut Kurdistan Region’s share of the federal budget in 2014, after which a big financial crisis rocked the Kurdistan Region. The impact of the crisis is still seen in the Region's economy. The Kurdistan Regional Government (KRG) still owes money it borrowed during this time. The KRG and federal government should resolve oil and budget problems in order for stability and certainty to return to the economy of the Kurdistan Region - otherwise a big opportunity will be missed. The Iraqi constitution can help in this matter. According to Article 112 of the Iraqi constitution, the running of oilfields in Iraq is the responsibility of both federal and regional governments, or the provinces the oil lies in. According to the oil and gas law of the Kurdistan Region, the KRG and its Ministry of Natural Resources are free to sign contracts with foreign companies that serve the interests of the Kurdistan Region. That is why the KRG signed nearly 50 contracts with oil companies after 2007 which are producing substantial amounts of oil and natural gas. The KRG planned to produce a million barrels of oil per day, but couldn’t do so because of the Islamic State (ISIS) onslaught and falling oil prices after 2014. But because of its robust oil and gas legislation, it still has the ability to produce vast quantities of oil and gas in the coming years. The Kurdistan Region’s oil and gas law shouldn’t be abandoned in negotiations between the KRG and federal government on the issue of oil sales and production. The oil and gas law of the Kurdistan Region allows for the setting up of a box for oil revenues. The law also considers the formation of some national companies for the exploration, production, and marketing of oil in the Kurdistan Region. The establishment of these national companies can reinvigorate the oil sector in the Kurdistan Region. With regards to the sale of oil, the Kurdistan Region can give all or some of the oil it produces to the federal government via national companies and ask for its fair share in return. This will not reduce the Kurdistan Region’s control over its oil sector, as the KRG has its own oil and gas law, is running these sectors in its own way, and has established its own mechanism and infrastructure for the last 10 years.
  3. If you have a name reserve, you are in OSI. That is what I recommend as the bare minimum.
  4. Good morning all! Today is Wednesday, 3rd of July 2019. The air is crisp... well, not really. Actually it's humid here and the mosquitos are napping for the moment, but it's still a beautiful day! Interesting times right now. GOI members are playing very nicely. Bitcoin saw that pullback I mentioned, and looks to be on the rise again. The G20 didn't produce any immediately exciting news that I've ran across, but it didn't bring us anything bad either. Back in the news, and worth a review, is the current OPEC agreement. This article I posted this morning highlights a very important point I've been harping on for some time, and even extends it - the current OPEC deal. Important notes in that article: Iraq is the 2nd largest oil producer in OPEC. (Does it make sense that it's currency is valued so low?) The production limitation agreement has been extended for 9 months - to boost the price of oil, rather than overproduce and drive the prices down. There is more in there, but let's focus on those for a moment. The amount of time the agreement has been extended isn't as important as the mere fact that it IS extended. Oil is hovering just under that $60 mark, and the stability is a great thing. Stable oil prices = comfortable accountants = solid footing to RV. (Yes, the accountants have a say!) Iraq is noted as the second largest producer... wait, what? We're talking about BLACK GOLD here, one of the most valuable commodities on the planet. And Iraq is #2... yet the currency they use is currently over 1000X weaker than the US dollar. Collectively, OPEC nations have over 80% of the world's known oil reserves... yet Iraq, the 2nd largest producer in that group, has a currency that would require 2000 pieces of it to buy a loaf of bread at your corner store. OPEC as a group agreed to keep oil production low, to stimulate oil prices. The majority of the members placed their name on the list of participants in this endeavor when it was originally voted on. The majority of the members did that... ... Iraq specifically did NOT. I hope you understand how huge this is for Iraq. They are one of the founding members of OPEC. The 2nd largest producer in the group. Iraq is agreeing to support these cuts. But they did not agree to join the group in their cuts. This gives Iraq carte blanche - complete freedom - to increase their production on a moment's notice, revalue their currency, and corner the market while they rake in cash to cover their "expenses". They may be operating on an increased production as we speak, stocking up hidden stores of oil in preparation for a huge push to bring in a massive amount of capital to cover the RV. There is more than one way to skin a cat, as they say, and that's just one aspect. The above is certainly an oversimplification of the big picture, but the fact remains - Iraq is nodding in agreement with the cuts, but they have never committed to it. NOT. ONE. TIME. Have a safe and happy 4th, everyone! If my next post is missing some letters, I'll run a contest to see who can guess which finger I may have lost. GOOOOO RRRVVVVVV!!!! - Adam P.S. As a side note, you might want to consider shorting oil as soon as the RV is announced... I know that's a gamble I'll be considering heavily.
  5. OPEC deal important for oil market stability: Iraqi PM By Mohammed Rwanduzy 2 hours ago Iraqi Prime Minister Adil Abdul-Mahdi addresses reporters during his weekly press conference in Baghdad on July 2, 2019. Photo: Iraqi PMO video ERBIL, Kurdistan Region — Iraq’s premier praised the OPEC deal to on Tuesday staying oil production cuts for nine more months because it is important for market stability as Baghdad is so heavily dependent on oil revenue. “This is important for market stability. This topic, for us, the Kingdom and all the producers and exporters of oil is important because budgets depend on oil market stability,” Iraqi PM Adil Abdul-Mahdi told reporters in his weekly press conference on Tuesday. Members some non-members of the Organization of Oil Producing Countries (OPEC) met in Vienna this week. Following a prior agreement on Monday between Saudi Arabia and Russia, the cartel agreed to extend production cuts of 1.2 million barrels per day (bpd) for nine more months until March 2020 in a bid to push global prices higher. The agreement was based on the Saudi desires to “face market developments and preserve the measures undertaken”, the PM Abdul-Mahdi revealed, adding that he had a phone call with Saudi King Salman prior to the deal. According to Iraqi Ministry of Oil statistics for the month of June, Iraq’s oil revenue fell from $7.38 billion in May to $6.4 billion in June as its exports fell by 6 percent, from 111 million barrels in May to 105 million barrels in June. Iraq exports around 3.5 million barrels per month — the second highest crude oil producer in OPEC. Iraq has agreements, especially a mega deal with the US giant ExxonMobil, to develop its southern oilfields to increase its production capacity. However, due to a missile that hit the main headquarters of the company in Basra, some foreign staff were evacuated in June. The attack against ExxonMobil came amid soaring US-Iran tensions; Iraq could be negatively impacted if the hostilities breakout between Iran and the US. However, it also raised questions about Iraq’s ability to provide a secure atmosphere in which foreign companies could invest in the decades-deprived oil sector. It has been reported that Iraq could act as Iran’s “ATM” to provide a loophole for US sanctions. Abdul-Mahdi, in his typical understated manner downplayed the incidents against energy and other companies working in Iraq, claiming they do not exceed those in “other countries.” “The security measures are crystal clear. Yes there have been threats, but no real security violation has taken place to any of our oil and non-oil installations. We undertake all measures,” he said. Some ExxonMobil employees have returned, the PM claimed, without elaborating. Separately, the PM also touched on connecting Iraq’s electricity grid to Arab and regional electricity grids — namely Jordan, Syria, Saudi Arabia, Turkey and Egypt. “We haven’t concluded this matter. It is still in the discussion stage. There is both a technical and a financial aspect to it. This is not something that [doesn’t entail] certain financial burdens, extending networks, and costs for these units,” the PM said, though adding the discussions are “serious.” “We, as Iraq, have to be connected to [electricity] grids just like the countries of the world,” he emphasized. Iraq does import electricity from Iran, but there needs to be greater interconnection with other regional countries, the PM posited. Iraq’s electricity grid is aging and strained by an increasing population, reconstruction and development. Usage also peaks in the summer months as temperatures in the south soar over 50 Celsius. The hours of government-produced electricity varies greatly across Iraq and the Kurdistan Region by geography. Link: http://www.rudaw.net/english/middleeast/iraq/030720191
  6. I'm guessing it's the members that abhor discounts on valuable items
  7. The term “shell company” carries some questionable attributes. We discuss this kind of topic in much more detail in vip, but I’ll chime in briefly here because I just had a red flag pop up when reading that post. As as far as the US, Canada, and most other countries following similar laws go, a Trust and an IBC are interchangeable for tax purposes. The key is making sure the Entity is outside the jurisdiction of the government that would impose taxes, in a manner that is legal and easy to maintain. It it is VERY important that taxes be paid when they are due, to the full extent that they are due. One of the most valuable parts of VIP here is the education and information that helps our members know their role and understand their liabilities... that education, in addition to little things like never using the term “shell company”, is what will keep them safe and protected not only at RV time but for years and decades to come.
  8. ***** edit: Adding a rare discount on VIP and some selected OSI products! Save a cool 20% with code "G20" at this link: https://dinarvets.com/forums/index.php?/store/ You'll get access to all things VIP, including our very active crypto section. Join us! ****** end edit. Happy Hump Day! There is a recurring note present in my updates recently... I'm sure many of you already noticed. The note has to do with the truth that can be found in rumors, even if the rumors themselves are not entirely accurate. I'm going to continue that today, because the rumor section seems exceptionally lively... and some of it holds some very solid truths, even if the rumors themselves have been hyper-inflated like that time your neighbor Bob caught that 28 pound perch. This time of year has historically been big for Iraq. Monumental items like Chapter 7 unfolded in late June, and there's another important event right around the corner: The G20 Summit. Here's a fairly detailed explanation: https://www.atlanticcouncil.org/blogs/new-atlanticist/the-g20-summit-explained Excerpt: You probably noticed that Iraq is not on the list. In that case, it might not be immediately obvious why this even matters to us, so I'll explain a small part of it. Even though Iraq isn't technically "present", it's not difficult to understand that anytime oil, money, gold or gifts leave Iraq - they are touched by one or more of those major players listed above. For Iraq to be successful in raising the value of their currency, they need to be able to operate their business, and the G20 Summit will have an effect on how the global money game is played for the next year. Once the Summit has concluded, Iraq may change their tactics slightly, but most importantly they will be free to make a decision and act accordingly. It's a big deal, and it's good. So although I don't expect an RV announcement to be made at the Summit, or directly because of the Summit, I do think it's reasonable to expect some actions after the summit. Before I forget - the DV lottery pool. https://dinarvets.com/forums/index.php?/topic/266455-dv-lottery-games-for-625-626-2019 And if that kind of lottery isn't your thing, maybe bitcoin is... anyone paying attention here? We have a special spot for it in VIP, and we've been pretty hot on BTC for a couple weeks now. Does it surprise anyone that BTC is on a tear right now? It wouldn't, if you had been watching this VIP thread! To sum that up, in case you're not in VIP - BTC (bitcoin) took a scant 16 days to soar from 10k to 20k when it hit it's all time high. As I'm typing this, BTC is over 13k... up over $2000 since yesterday. When it was announced that facebook was officially getting in the game (see my thread started June 19), I personally hailed it as a great thing for crypto in general. I will NOT be surprised to see BTC hit 20k again, and it won't take long. This is not based only on the Facebook announcement, and I won't get into all of the boring details here - we're discussing it in great detail in the VIP section. Did I mention we're talking about this stuff in VIP? (As if you needed another reason to join us there, you know! ) Whether you're in the pool, or happily watching Bitcoin rise, or just hanging out in VIP enjoying the knowledge and sharing the adventure with us, waiting to take advantage of a better cash in rate soon... .... GOOO RRRVVVVV!!!!
  9. Try this: https://dinarvets.com/forums/index.php?/clients/purchases/
  10. Also available in the store. Store
  11. I do still agree with that, and there's only one way that's going to change - if/when the IRS gets around to clarifying it, as it relates specifically to the Dinar/this situation. Unfortunately, they can clarify it pretty quickly... certainly in the same tax year as the RV is announced, and I'm betting it won't be in our favor. If at all possible, I would love to claim Cap gains. The unfortunate reality is that we may not have that option, especially after the rules are changed retroactively on us. I am hoping for the best but prepared and protected against the worst in regards to taxation.
  12. HA! Nicely timed, if I do say so myself! Thanks for the post, @DinarThug Sorry about the date on my thread title, I started this yesterday and things got away from me.
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