Adam's Official Chat 1/18/12

[crab65]

Thanks Adam.. Keep us posted on the good side.. keeps our hopes up..

[tricky]

Great chat and super information. Tahnks again and go RV!!!!!

[Rochester]

Can anybody tell me this? How many dinars per week is the average Iraqi paid? To me this is THE key question as to the necessity of a currency revaluation.

You see, Iraq's economy is very, very small, outside of oil. They make very little that they need. Just about everything has to be imported from other places. Given the current low valuation of the dinar, the average Iraqi consumer can not afford to buy anything that is made outside of Iraq, because his money is worth too little outside his own country. Sure maybe it will pay for his apartment and gas and basic food inside of Iraq, but not much else.

This pattern is obviously unsustainable. Great rushes of oil money will soon start flooding the economy. The wealth will be there, and yet the people will have no money worth anything? Obviously not, unless the government of Iraq wants a revolution, like happened in Egypt and Libya and other places in the Middle East.

Iraq has a very young population. The average age in Iraq is 20. They are a fairly well educated population and have lots of access to the internet. And they are very poor, in a country soon to be overrun by oil wealth......this is a sure-fire recipe for revolution, unless something changes.

The government of Iraq will be FORCED to sharply upgrade the value of their currency very soon. They will have no choice.

It's RV or Revolution.

Those are the choices.

Edited January 21, 2012 by Rochester

[Francie26]

Can anybody tell me this? How many dinars per week is the average Iraqi paid? To me this is THE key question as to the necessity of a currency revaluation.

You see, Iraq's economy is very, very small, outside of oil. They make very little that they need. Just about everything has to be imported from other places. Given the current low valuation of the dinar, the average Iraqi consumer can not afford to buy anything that is made outside of Iraq, because his money is worth too little outside his own country. Sure maybe it will pay for his apartment and gas and basic food inside of Iraq, but not much else.

This pattern is obviously unsustainable. Great rushes of oil money will soon start flooding the economy. The wealth will be there, and yet the people will have no money worth anything? Obviously not, unless the government of Iraq wants a revolution, like happened in Egypt and Libya and other places in the Middle East.

Iraq has a very young population. The average age in Iraq is 20. They are a fairly well educated population and have lots of access to the internet. And they are very poor, in a country soon to be overrun by oil wealth......this is a sure-fire recipe for revolution, unless something changes.

The government of Iraq will be FORCED to sharply upgrade the value of their currency very soon. They will have no choice.

It's RV or Revolution.

Those are the choices.

I hope you are right and that they are wise enough to know it.

[strolld2]

Hi Adam,

Once again a great and very informative chat! Things in Iraq seem to be moving along quite well leading to the RV! Patience is always a Virtue! Also, just to add this for everyone who has an account at Warka Bank, I did receive Interest paid to my account which is great, so check your accounts!

[Francie26]

You got that right Francie... in fact most of my friends who have older children (20+yrs. old) warm me it doesn't get any easier with age. From my experience so far it's true... it's really gonna take the grace of God for them to get to be mature, healthy, responsible adults... without me pulling all my hair out (come to think of it... I don't have much left ), or... well... you know the rest of the story! Yup, kids... they will make your day, and sometimes break your heart, but they are a blessing I wouldn't live without.

"it's really gonna take the grace of God for them to get to be mature, healthy, responsible adults" . . . Even then you have a surprise waiting for you. My beautiful, funny, geneorus, kind, 47-year-old daughter has an accounting degree and is the Senior Accountant for a the largest of several plants owned by a nation-wide company. Yet, she still teasingly dings me about my dinar. LOL She is a realist, and not prone to dreaming like I am--in fact, she just can't quite figure out how to dream. Oh, she listens to me respectfully when I talk about dinar, but I think the RV will teach her something far more important than how to cash in dinar--that sometimes our dreams are the greatest reality of all.

Me, too!! In fact, I'm going nuts!!

I'm so excited, I just can't hide it! GO RV

hahaha You're cute! But of course, I am feeling the same way. Excitement is oozing out of my very pores. LOLOL

[TonyDownTheShore]

This week was a very exiting week, I hope it will keep getting better, thanks for the chat Adam and kcw for posting.