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Adams chat this Wed Morning


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[adam montana] ok, awesome! First off let me apologize to the normal DV group - I'm at a hotel with super slow internet and I don't think I'd be able to conduct chat in our normal busy room

[adam montana] next - this is one of those chats where I'm wondering why you even want to hear from me, because I'm not going to tell you it RV'd :lol:

[adam montana] on a good note, nothing bad has happened. We're still waiting on that Summit, hopefully Iraq has plans to go into that thing as a NEW Iraq, complete with a valuable currency!

[adam montana] Let's face it, Iraq is about as NEW as they can be without raising the value of their currency. It's bound to happen, the question is "When?"

[adam montana] Personally I am still on the "Now-to_september" train, and it's chugging along.

[adam montana] So with all that said, there is no RV yet. Chapter 7 is still hanging on by a thread and the HCL is bound to be resolved any moment now, but again... still no RV AT THIS MOMENT. (That's not to say it won't pop as soon as I'm done with this chat! If it does, you'll get an email ASAP.)

[adam montana] kcw, I'm ready when you are!

[kcw] Rogue Knight Adam, thanks for all you do for us here! What are your thoughts on Iraq joining the WTO, wouldn't they need an internationallyt traded currency? Also there are some articles on the new revalued bank notes being released by September 2012, does this give us a "definite" time line? Thanks again! - RK

[adam montana] Rogue, good question. I would love to see Iraq join the WTO, and I do think that will only happen AFTER they raise the value. Regarding the "new notes by September" issue, I agree that this is a major sign and September is a solid "deadline" (I hate to use that word)

[adam montana] next please!

[kcw] jpiete Thanks Adam for all that you do! My question has to do with the Dodd-Frank bill. I've read that we need to open what's called a TAG (Transaction Account Guarantee) non-interest bearing account to ensure our gold backed Dinars are not subjected to the possible revalue of the dollar. I've read that we could lose anywhere from 40%-60% of the value of the greenback. Have you heard this and would this be something we need to set up?

[adam montana] 40-60% is a lot, but the dollar definitely isn't going UP! I'm glad you brought up the Dodd-Frank thing, because I think a lot of people are confused on it. Let me explain a little.

[adam montana] First, this type of account is only for someone with over 250,000 USD sitting in an account in liquid cash. Most people with that much money don't just "let it sit", they invest it. In Real Estate, in stocks, ETFs, ANYTHING other than let it sit.

[adam montana] Second, TAG is still FDIC insurance. It's just Insurance that isn't capped at 250k. If the dollar busts, or the FEDERAL Insurance can't cover it, there's nothing we can do about it and the TAG or FDIC insurance is worthless.

[adam montana] I hope that helps clear it up, or at least give you a better understanding.

[adam montana] next pleaes!

[kcw] BKD Adam, thanks for your knowledge and insight about the dinar. You bring much to the table. Now, just a curious question. How many U.S. citizens do you believe have invested in the dinar, thousands or millions?

[adam montana] I would guess 10's of thousands, not millions. And you are very welcome.

[adam montana] next please!

[kcw] TimS Adam...Can we believe the info posted by and on the CBI website? Specifically, they state an amount of dinar in circulation....is it reliable or could it be misinformation?

[adam montana] :lol: That's an awesome question. A lot of people claim "you don't need any special service, if you want to know when the RV happens just look at the CBI site"... I disagree. The CBI is often late to post any kind of news on their site, and when the RV is announced they are going to do EVERYTHING possible to mislead and retain as much profit as possible. Bottom line: I don't trust the CBI to post ANYTHING accurate other than the spread they are charging.

[adam montana] next please!

[kcw] chevyseller2008 Adam, there was recently an article out stating the gap between the IQD and USD would be shortened in the coming days. What are your thoughts on that?

[adam montana] I can answer this one very efficiently:

[adam montana] gooooooo rrrrrrrvvvvvvvvvvvvvvv!!!!!!!!!!!!!! :lol:

[adam montana] next pleaes!

[kcw] simon8957 My question is this. Lets say when it RV's it is a low rate lets say it comes out at .05. At that time would it be a fixed rate or would it be able to adjust accordingly since I assume it will be a tradeable currency then? Thanks all is appriciated!!!

[adam montana] It can happen either way. I believe it will come out pegged (fixed) at first, to draw in as much as possible and avoid a sudden DROP. Then after 3-6 months I expect to see it rise slowly. I'm guessing that in the course of 5 years it would go from .10 up to $3.

[adam montana] Of course, that's only if it comes out low (which I think it will). If it comes out high, like at a dollar, then I believe it will remain at a buck for much longer before growing. (This is also a possible scenario)

[adam montana] next please!

[kcw] Brisco Howdy Adam is there any truth that if you say the statement "I once new a smart fella and he felt smart" ten times really fast you would indeeed become smart. I feel that if there was a minster of smoke & mirrors it would have to be Mohammed Saleh of the CBI. With all the contradicting and positive statements in the resent articles, do you beleave that the RV/RI could happen by months end?

[adam montana] "Saleh would be the Minister of Smoke & Mirrors" haha! No kidding... nice observation :D

[adam montana] I do believe it could happen by the end of the month, but I'm not making a prediction here. The end of the month just happens to be part of "now to September". :tiphat:

[adam montana] Next please!

[kcw] andy3978 That move of 1170 to 1166...was there any real significance to it oe simply a dog & pony show? Thanks for keeping it real.

[adam montana] andy, I think that's a good question. I addressed it at length in last week's chat, so I'll be brief here. I believe the move does two things. First, it tests the waters for a bigger move. Second, it shows that the CBI is in FULL control of the rate, the stability, etc.

[adam montana] next please!'

[kcw] Darr At the risk of bringing up old concerns, could you elaborate on the reason why you don't think the RV will be for 'in-country' citizens only. Also, is Warka 'toast' in your opinion?

[adam montana] Warka is a "hold" status for me at this time. We've seen things happen with them in the past, and they always pull through... so at this time we wait.

[adam montana] The main reason I don't believe it will be an in-country RV is because they would be burning a LOT of bridges if that happens. :twocents:

[adam montana] next please!

[kcw] michael1j Adam - I hope this is not a goofy question: once the RV hits (soon I hope ) when do they take out for US Fed / State tax's ie: before the spread or after the spread? and thanks for everything you do for us and hope the stress level isn't getting to be to much. michael1j

[adam montana] At this time it's just like any other investment or profit. The banks don't do any withholding, that is your responsibility.

[adam montana] Regarding the spread, that's just like any other expense - you will pay taxes on what you receive. Whoever profits on the spread pays the taxes on those funds. For you, it's basically a write off.

[adam montana] Ok, that was it! Again, sorry for not doing this in the normal chat room, thank you for understanding.

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[adam montana] ok, awesome! First off let me apologize to the normal DV group - I'm at a hotel with super slow internet and I don't think I'd be able to conduct chat in our normal busy room

[adam montana] next - this is one of those chats where I'm wondering why you even want to hear from me, because I'm not going to tell you it RV'd :lol:

[adam montana] on a good note, nothing bad has happened. We're still waiting on that Summit, hopefully Iraq has plans to go into that thing as a NEW Iraq, complete with a valuable currency!

[adam montana] Let's face it, Iraq is about as NEW as they can be without raising the value of their currency. It's bound to happen, the question is "When?"

[adam montana] Personally I am still on the "Now-to_september" train, and it's chugging along.

[adam montana] So with all that said, there is no RV yet. Chapter 7 is still hanging on by a thread and the HCL is bound to be resolved any moment now, but again... still no RV AT THIS MOMENT. (That's not to say it won't pop as soon as I'm done with this chat! If it does, you'll get an email ASAP.)

[adam montana] kcw, I'm ready when you are!

.

[kcw] Rogue Knight Adam, thanks for all you do for us here! What are your thoughts on Iraq joining the WTO, wouldn't they need an internationallyt traded currency? Also there are some articles on the new revalued bank notes being released by September 2012, does this give us a "definite" time line? Thanks again! – RK

.

[adam montana] Rogue, good question. I would love to see Iraq join the WTO, and I do think that will only happen AFTER they raise the value. Regarding the "new notes by September" issue, I agree that this is a major sign and September is a solid "deadline" (I hate to use that word)

[adam montana] next please!

.

[kcw] jpiete Thanks Adam for all that you do! My question has to do with the Dodd-Frank bill. I've read that we need to open what's called a TAG (Transaction Account Guarantee) non-interest bearing account to ensure our gold backed Dinars are not subjected to the possible revalue of the dollar. I've read that we could lose anywhere from 40%-60% of the value of the greenback. Have you heard this and would this be something we need to set up?

.

[adam montana] 40-60% is a lot, but the dollar definitely isn't going UP! I'm glad you brought up the Dodd-Frank thing, because I think a lot of people are confused on it. Let me explain a little.

[adam montana] First, this type of account is only for someone with over 250,000 USD sitting in an account in liquid cash. Most people with that much money don't just "let it sit", they invest it. In Real Estate, in stocks, ETFs, ANYTHING other than let it sit.

[adam montana] Second, TAG is still FDIC insurance. It's just Insurance that isn't capped at 250k. If the dollar busts, or the FEDERAL Insurance can't cover it, there's nothing we can do about it and the TAG or FDIC insurance is worthless.

[adam montana] I hope that helps clear it up, or at least give you a better understanding.

[adam montana] next please!

.

[kcw] BKD Adam, thanks for your knowledge and insight about the dinar. You bring much to the table. Now, just a curious question. How many U.S. citizens do you believe have invested in the dinar, thousands or millions?

.

[adam montana] I would guess 10's of thousands, not millions. And you are very welcome.

[adam montana] next please!

.

[kcw] TimS Adam...Can we believe the info posted by and on the CBI website? Specifically, they state an amount of dinar in circulation....is it reliable or could it be misinformation?

.

[adam montana] :lol: That's an awesome question. A lot of people claim "you don't need any special service, if you want to know when the RV happens just look at the CBI site"... I disagree. The CBI is often late to post any kind of news on their site, and when the RV is announced they are going to do EVERYTHING possible to mislead and retain as much profit as possible. Bottom line: I don't trust the CBI to post ANYTHING accurate other than the spread they are charging.

[adam montana] next please!

.

[kcw] chevyseller2008 Adam, there was recently an article out stating the gap between the IQD and USD would be shortened in the coming days. What are your thoughts on that?

.

[adam montana] I can answer this one very efficiently:

[adam montana] gooooooo rrrrrrrvvvvvvvvvvvvvvv!!!!!!!!!!!!!! :lol:

[adam montana] next please!

.

[kcw] simon8957 My question is this. Lets say when it RV's it is a low rate lets say it comes out at .05. At that time would it be a fixed rate or would it be able to adjust accordingly since I assume it will be a tradeable currency then? Thanks all is appriciated!!!

.

[adam montana] It can happen either way. I believe it will come out pegged (fixed) at first, to draw in as much as possible and avoid a sudden DROP. Then after 3-6 months I expect to see it rise slowly. I'm guessing that in the course of 5 years it would go from .10 up to $3.

[adam montana] Of course, that's only if it comes out low (which I think it will). If it comes out high, like at a dollar, then I believe it will remain at a buck for much longer before growing. (This is also a possible scenario)

[adam montana] next please!

.

[kcw] Brisco Howdy Adam is there any truth that if you say the statement "I once new a smart fella and he felt smart" ten times really fast you would indeeed become smart. I feel that if there was a minster of smoke & mirrors it would have to be Mohammed Saleh of the CBI. With all the contradicting and positive statements in the resent articles, do you beleave that the RV/RI could happen by months end?

.

[adam montana] "Saleh would be the Minister of Smoke & Mirrors" haha! No kidding... nice observation :D

.

[adam montana] I do believe it could happen by the end of the month, but I'm not making a prediction here. The end of the month just happens to be part of "now to September". :tiphat:

[adam montana] Next please!

.

[kcw] andy3978 That move of 1170 to 1166...was there any real significance to it oe simply a dog & pony show? Thanks for keeping it real.

.

[adam montana] andy, I think that's a good question. I addressed it at length in last week's chat, so I'll be brief here. I believe the move does two things. First, it tests the waters for a bigger move. Second, it shows that the CBI is in FULL control of the rate, the stability, etc.

[adam montana] next please!'

.

[kcw] Darr At the risk of bringing up old concerns, could you elaborate on the reason why you don't think the RV will be for 'in-country' citizens only. Also, is Warka 'toast' in your opinion?

.

[adam montana] Warka is a "hold" status for me at this time. We've seen things happen with them in the past, and they always pull through... so at this time we wait.

[adam montana] The main reason I don't believe it will be an in-country RV is because they would be burning a LOT of bridges if that happens. :twocents:

[adam montana] next please!

.

[kcw] michael1j Adam - I hope this is not a goofy question: once the RV hits (soon I hope ) when do they take out for US Fed / State tax's ie: before the spread or after the spread? and thanks for everything you do for us and hope the stress level isn't getting to be to much. michael1j

.

[adam montana] At this time it's just like any other investment or profit. The banks don't do any withholding, that is your responsibility

[adam montana] Regarding the spread, that's just like any other expense - you will pay taxes on what you receive. Whoever profits on the spread pays the taxes on those funds. For you, it's basically a write off.

[adam montana] Ok, that was it! Again, sorry for not doing this in the normal chat room, thank you for understanding.

[adam montana] Ok, that was it! Again, sorry for not doing this in the normal chat room, thank you for understanding.

[adam montana] Everyone have a great day, I'll be in touch if anything big happens. GOOOO RRRRRVVVVV!!!!!!

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Adam, kcw. Thanks and as always no real news is always good news and I'm still aboard for the now till Sept train ride.. Just waiting to see which station it stops at beforehand.. The March, the April, the May, the June , the July , the August or the last stop September. :woot: :woot: :woot: :woot:

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Thank you Adam....you basically told me that the CBI does not have to post reliable (accurate) info on their site.

So my question to everyone is this......HOW CAN WE FIND OUT HOW MUCH DINAR IS IN CIRCULATION? I believe this to be the single most important piece of info that affects any rate of an RV.

Anyone have any ideas? :rolleyes:

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Thank you Adam....you basically told me that the CBI does not have to post reliable (accurate) info on their site.

So my question to everyone is this......HOW CAN WE FIND OUT HOW MUCH DINAR IS IN CIRCULATION? I believe this to be the single most important piece of info that affects any rate of an RV.

Anyone have any ideas? :rolleyes:

we can't bottom line. Adam is correct they DO NOT and most likely are not posting the right numbers.

Edited by easyrider
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Thank you Adam....you basically told me that the CBI does not have to post reliable (accurate) info on their site.

So my question to everyone is this......HOW CAN WE FIND OUT HOW MUCH DINAR IS IN CIRCULATION? I believe this to be the single most important piece of info that affects any rate of an RV.

Anyone have any ideas? :rolleyes:

We cant find the real numbers tim. they claim 60 billion in reserves and an article came out saying 90 billion in reserves. Personally, after that, i dont believe any of their data and im a numbers guy

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We cant find the real numbers tim. they claim 60 billion in reserves and an article came out saying 90 billion in reserves. Personally, after that, i dont believe any of their data and im a numbers guy

There have been many posts from those in country who say almost everything is paid for in dollars on the street. That should be an indication that in-country circulation may be lower than we think. I don't trust the CBI's numbers at all.

Course you could call the IMF and ask 'em about Iraq's second set of books...can't trust them either. :(

Thank you Adam....you basically told me that the CBI does not have to post reliable (accurate) info on their site.

So my question to everyone is this......HOW CAN WE FIND OUT HOW MUCH DINAR IS IN CIRCULATION? I believe this to be the single most important piece of info that affects any rate of an RV.

Anyone have any ideas? :rolleyes:

File FOIA (Freedom of Information Act) request with the IMF ...probly takes months...if it's possible. :o

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