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kcw

Adam's official chat 6/13/12

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[Adam Montana] good morning everyone, it's that time again!

[Adam Montana] no typing please, I'm going to do a quick summary and then hop into the weekly Q&A

[Adam Montana] I hate seeing people get booted but we have to keep these things orderly otherwise they take forever and get very confusing

[Adam Montana] ok, as you all know.... nobody has cashed in yet, so we're all here waiting still

[Adam Montana] the big deal in the news this week is the Kurds wanting to boot Maliki for failing to get his act together

[Adam Montana] It didn't happen, and I'll talk a little more about that later

[Adam Montana] if you've been in this investment for over a year, you'll know that we have an important holiday coming up... Ramadan

[Adam Montana] I say this every year, and every year people argue with me, but every year I am proven right.... NOTHING gets done during Ramadan.

[Adam Montana] if we don't see the RV before Ramadan, you can all pack your bags and go on a camping trip for a month because it will NOT happen during Ramadan.

[Adam Montana] Lucky for us, we have a few weeks before Ramadan

[Adam Montana] and then we have a few weeks after Ramadan before the September deadline hits us

[Adam Montana] so in my opinion, we are sitting right on top of two very good windows of potential

[Adam Montana] The best news of all for this week: Once again, there is no bad news to report. Iraq is still moving forward, and in my opinion our odds of making good on this investment continue to get better

[Adam Montana] ok, now the Q's. kcw, fire away!

[kcw] Luigi1 Will failed talks at the WTO last week& possibly failed C7 talks this week set back the RV even more? Can Iraq ever get it's act together?

[Adam Montana] Luigi, I know it might seem like things are being "set back", but that's simply not the case. The "gurus" out there will say things were "set back" to defend themselves when they are once again wrong on a predicted RV date... but the truth is nothing has been "set back". This is a process that takes time and it was never meant to happen a year, two years, 5 years, or a month ago. Nothing is going to happen with the currency until they get Chapter 7 and the HCL handled. Once that's wrapped up, they can change the rate

[Adam Montana] next please!

[kcw] countryroads Hi Adam. Hope you are haven a good day. Do you feel that Iraq is ready to negotiate treaties and other contracts ( by itself ) with the rest of the world at this time? I just can't help but thinking that some countries will play on their inexperience.

[Adam Montana] Good question countryroads. I think they can handle themselves. Their "inexperience" isn't a huge factor - they may have a young government by comparison, but their Parliament members, Presidents, Prime Ministers, etc are just as wise as any other countries government members. The government may be young, but sometimes tough times makes for tough people. I'm not concerned about them being "taken advantage of" at a negotiating table. The only place I worry about them being taken advantage of is in a military confrontation, and that problem is solved when they lift Chapter 7. Great question!

[Adam Montana] next please!

[kcw] waitingondinar Hello Adam, can you please comment on these three articles: One says they don't have enough votes to oust Malaki, one says they have 170 signatures and only 163 are required. One article state Barzani doesn't want to replace Malaki and the other article does. Very confusing. Also, President Obama extended the DFI protection of Iraqi funds for another year. What does this do to a potential RV? Thanks

[Adam Montana] Absolutely

[Adam Montana] the article that says they have enough signatures was a pre-emptive release from the Kurds side.

[Adam Montana] they may have had 170 promises, but when it came down to is they only ended up with 160 signatures

[Adam Montana] promises don't get the job done

[Adam Montana] if you check my blog dinarspeculation.com you'll find links to back that up

[Adam Montana] Also a link to President Talabani confirming that they didn't end up with enough to boot Maliki

[Adam Montana] could it still happen? Yes, but like I said before... I don't think it's going to happen. The country is split too equally, and Maliki has enough fingers in enough pies to swing the votes his way time and time again

[Adam Montana] good question. Next please!

[kcw] DinarWhiz Just wondered what the tarriffs mean. Does this make an RV closer? Thanks Adam . You don't have to comment if this was already answered.

[Adam Montana] tarriffs are extra taxes imposed on goods... they don't signify an RV. One could make the argument that it would be silly to add extra tax on goods that are out of the average Iraqi's reach in the first place, unless there was a plan to increase the wealth of the average Iraqi in the near future... but the tarrifs themselves have nothing to do with the value of the currency.

[Adam Montana] next please!

[kcw] Texas1 Any chance you could bring in a translator for all of the all night MTV marathon posts?(Randallns love songs)

[Adam Montana] That guy cracks me up just how he is, I would be scared to read the translated versions. :lol: next please!

[kcw] brbrlocke Is there a chance something may happen this year before they all load up the family and go to the Ramada(n) Inn for a month ?

[Adam Montana] Ramada(n)! :lol: Thanks for the laugh, that's the first time I've seen it put that way :D

[Adam Montana] this year Ramadan check-in time is Thursday July 19, and check out is Saturday August 18. They have said that they planned to release a new currency in September of this year, so that gives us about 5 weeks between now and Ramadan, and almost 2 weeks after Ramadan to September.

[Adam Montana] Like I said, NOTHING gets done during Ramadan. People always argue with me on that, but nobody seems to be able to come up with anything SIGNIFICANT that was ever accomplished during a Ramadan, so I'm sticking with my theory that it will either happen BEFORE or AFTER the holiday.

[Adam Montana] 5 weeks is a lot of time to get something accomplished! I obviously can't say for sure if it WILL or not, but it's a definite possibility

[Adam Montana] next please!

[kcw] RAGARCIA62 it was said that some people made money on the rv of the Kuwait dinar, and that there is much confusion on us iraqi dinar holders on the taxes when we get to see our rv, do you think that the tax would be the same as the Kuwait dinar rv tax, and do you know what that was back then? thanks for reading this, for all you do and for your time. go rv sooon please.

[Adam Montana] The Kuwaiti Dinar was a different situation. Anyone who made money on it was simply in the right place at the right time. The street value plunged, people were selling it for pennies, then realized they made a mistake and some people benefited. There was no time for the governments to make any preparations for it and most people didn't pay any taxes on the profits they made.

[Adam Montana] The Iraqi Dinar is different. If this currency is given a large boost, the government has had plenty of time to prepare contingency bills to take advantage of all the profits made by citizens here. Luckily, we are also given the same amount of time to take precautions.

[Adam Montana] if you have ANY concerns about what to do after the RV, how to best protect your assets, how to minimize or even ELIMINATE your tax liability - I encourage you to join my VIP group. There is a discount code available right now for 20% off:

[Adam Montana] join at http://iqd.me/l/order , and use the discount code "newsletter20"

[Adam Montana] best wishes to all of us!

[Adam Montana] next please!

[kcw] Jim1997 Adam, do you see a significant difference for the dinar after the UN meeting coming up this friday? How confident are you that Iraq will make things happen after the meeting occurs? Thanks for everything you do.

[Adam Montana] I'm not placing any bets on this particular UN meeting, from what I've been told they aren't prepared to settle the big issues. With that said, I have to say I think we are still a few weeks out after this next meeting.

[Adam Montana] however... I will be happy to be proven wrong! They have been working towards a resolution of HCL and Chapter 7 for years and getting closer all the time

[Adam Montana] I'm a firm believer that we're not going to get a huge warning or even a major hint - it's going to come out of the blue and we're going to be in a mad dash to make the most of whatever time they give us to cash in

[Adam Montana] I'm also a firm believer that when they introduce the new currency at a new rate, we won't have more than 90 days to exchange our bills. Make sure you are on my email list ( http://dinarnews.net/news ) at the very least, and in my VIP group at the very best ( http://iqd.me/l/order )

[Adam Montana] that's it for today, thanks for the patience everyone! Have a great day, awesome week, and don't forget to get out there and enjoy the weather... summer only comes once a year

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Thank you again Adam for bringing us a wealth of info that is more factual than fabricated. Still on the now till September train. Have a great start to summer fun. Thanks also for keeping us well grounded.

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I spent two years in Saudi Arabia & another 5 years in Iraq, Kuwait & Bahrain as a contractor.

Adam is correct...nothing gets done during Ramadan...nothing.

There's a lot of ****** off, short tempered people walking around because they can't eat or drink till the sun goes down for a whole month.

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Thanks KCW for posting the transcript. Had to leave before Adam made it to chat. As always, it's good stuff. We will get there 'someday'.

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Not being informed, what are the start & end dates of Ramadan this year?

Sorry,for above question----------didn't read all of Adam's post---my bad!

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Thanks for the chat Adam and kcw! Im hoping the GOI can put their big boy pants on and play ball with the rest of the world. Btw, Just for the power of positive thinking, im going to say this; This is our summer for the rv! Who's with me?

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Not being informed, what are the start & end dates of Ramadan this year?

Sorry,for above question----------didn't read all of Adam's post---my bad!

Ramadan will begin on or about the 18th of July & last 30 days. It varies from year to year depending on what day the 7th new moon falls on.

The next big delay will be Haj if they can't get 'er done after Ramadan.

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I agree with the others, another great chat. I also agree with you about Ramadan. I noticed when I was in Kuwait, a lot of the Kuwaiti citizens actually pitched tents in the desert during that time. Some of these tents were pretty elaborate with generators and a/c units, elevated water tanks, etc. The kids played soccer, and rode in the open desert on their atvs. So what I've seen, Ramadan is a family holiday, that is basically a month long. With all that going on, I can't see anything happening during that time either. Have a wonderful day everyone. Go RV !!! B)

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Thanks, Adam. Let's hope we have a go before the holiday.

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Question: What is Ramadan?

Ramadan is the ninth month of the Islamic lunar calendar. Every day during this month, Muslims around the world spend the daylight hours in a complete fast.

Answer: During the blessed month of Ramadan, Muslims all over the world abstain from food, drink, and other physical needs during the daylight hours. As a time to purify the soul, refocus attention on God, and practice self-sacrifice, Ramadan is much more than just not eating and drinking.

Muslims are called upon to use this month to re-evaluate their lives in light of Islamic guidance. We are to make peace with those who have wronged us, strengthen ties with family and friends, do away with bad habits -- essentially to clean up our lives, our thoughts, and our feelings. The Arabic word for "fasting" (sawm) literally means "to refrain" - and it means not only refraining from food and drink, but from evil actions, thoughts, and words.

During Ramadan, every part of the body must be restrained. The tongue must be restrained from backbiting and gossip. The eyes must restrain themselves from looking at unlawful things. The hand must not touch or take anything that does not belong to it. The ears must refrain from listening to idle talk or obscene words. The feet must refrain from going to sinful places. In such a way, every part of the body observes the fast.

Therefore, fasting is not merely physical, but is rather the total commitment of the person's body and soul to the spirit of the fast. Ramadan is a time to practice self-restraint; a time to cleanse the body and soul from impurities and re-focus one's self on the worship of God.

http://islam.about.com/od/ramadan/f/ramadanintro.htm

Question: When is Ramadan 2012?

Ramadan, the greatest religious observance in Islam, is an annual month of fasting. What are the dates for Ramadan in 2012?

Answer: Ramadan is expected to begin on or around July 20, 2012 and will finish on or around August 19, 2012.

Note: The exact dates of Islamic holidays cannot be determined in advance, due to the nature of the Islamic lunar calendar. Estimates are based on expected visibility of the hilal (waxing crescent moon following a new moon) and may vary according to location.

http://islam.about.com/od/calendar/f/2012ramadan.htm

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We have been waiting for the HCL and Chapter 7 to be completed every single month. So targeting a specific timeframe and saying I told you that nothing happens during Ramadan makes no sense considering nothing happened the other 11 months of the year either.

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[Adam Montana] I'm a firm believer that we're not going to get a huge warning or even a major hint - it's going to come out of the blue and we're going to be in a mad dash to make the most of whatever time they give us to cash in

[Adam Montana] I'm also a firm believer that when they introduce the new currency at a new rate, we won't have more than 90 days to exchange our bills.

are you saying redenomination/demonetization?

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are you saying redenomination/demonetization?

Ahhhhhhhhhh yes Adam has been on the RD/LOP bandwagon for years :lol::lol::lol:

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