Adam's Official Chat 8/1/12

[kcw]

[Adam Montana] morning everyone! Wait... it's not morning. I'm not used to doing these in the afternoon

[Adam Montana] ok, so if you're a long time "Adam Montana" follower, you know I'm usually pretty much "right on" with my opinions... and one of my opinions is that NOTHING significant is going to happen during Ramadan

[Adam Montana] (No, I do not consider finger pointing and cane waggling 'significant' )

[Adam Montana] SIGNIFICANT would be the HCL, chapter 7, or anything related to that coming TOGETHER at this time. For now, during Ramadan, all we have is the normal planning, false stories, and posturing

[Adam Montana] don't get me wrong here!

[Adam Montana] I see a lot of positive stuff happening, but my point is that during Ramadan I highly doubt that we are going to see the RV

[Adam Montana] so tuck the Dinar back under your socks in the sock drawer, turn off the car that's been warming up in the driveway, and hang tight for two more weeks 

[Adam Montana] with all that said, let's do the Q&A

[Adam Montana] kcw... Boom!

[kcw] capt.cliff hello Adam In your opinionthis saber rattling, talking of succession and war, cutting off payments toKurds--- by the Kurds and Bagdad just that or is there any teeth to thesituation Thank you

[Adam Montana] nope, no teeth at all. If there is anything to get out of this, it's that they do this type of 'rattling' as a daily way of life - that's why not much of the so called "negative" press about the politics over there bother me.

[Adam Montana] when they change the value of the currency, they will do so because they are ready to and because it will benefit them. I defy ANYONE to dispute that. I'll say it again: "When they change the value of the currency, they will do so because it will BENEFIT them". (Have at it, l0psters and other-website-owners-who-love-to-pick-apart-my-chats )

[Adam Montana] next please!

[kcw] bamagirl Adam I amthinking of buying a little more dinar but am on the fence... In your opiniondo you think it's wise to keep buying now? I am only asking an opinion not professionaladvice... Are you still pretty confident of no bunny-ear? BTW, you have a great sitehere with awesome members, thanks for letting me take part... just letting yaknow!

[Adam Montana] bamagirl, first - I have never ever ever told anyone to sell, buy, not sell, or not sell dinar. I WILL discourage against doing ANY kind of layaway program, for one simple fact: If you can't afford to just buy the Dinar you are putting on Layaway, you should not be buying it in the first place! Everyone needs to be responsible for their own decisions, and buying anything from a pack of Gum to a bundle of Dinar is one of those personal choices. You have to make it for yourself.

[Adam Montana] next please!

[kcw] gross0612 Per theWSJ the IRS/Federal Government is developing new safeguards regarding taxavoidance using off shore accounts. I have not seen anything yet regardingwindfall profit tax increases - what is the latest regarding these two items?

[Adam Montana] Good question, and one that has a lot of people confused

[Adam Montana] "safeguards regarding tax avoidance" is wrong. The "safegaurds" are there to prevent tax EVASION. It is still, and should always be, legal to own, maintain, and operate foreign corporations and/or foreign bank accounts. Tax evasion will always be illegal. however, tax AVOIDANCE is just like claiming a dependant on your taxes. You are avoiding paying unnecessary taxes, yes! But it is 100% legal.

[Adam Montana] smart people use the system to their advantage and YES - the loopholes need to be used! If you don't agree with that philosophy, by all means - please immediately turn over your savings account, stocks, investments, and anything else you have to the government. You DO believe that they will take care of you in the future, right?

[Adam Montana] next please!

[kcw] rockfl9 Most of thelogic around the RV/NoRV debate is based on the amount of the Dinar M2.. rangesfrom 30T to 80T.. What do you think is the right number?

[Adam Montana] When the "debaters" can't narrow a large basis of their argument to less than a 50 TRILLION dollar gap... might the rest of the argument be flawed as well? There's some food for thought.

[Adam Montana] My point is we have no way of knowing exactly how much reserves, gold, USD, IQD, etc they have stashed, because they DO NOT GIVE US ACCURATE INFO. That goes for BOTH arguments, which is why we frown upon ANYONE being abusive towards the other side here - we are all just guessing when you boil it down far enough

[Adam Montana] thanks for the question

[Adam Montana] next please!

[kcw] Nadita Hi Adam,just wanted to say a big 'THANK YOU" for your kindness to keep the sitegoing after the RV. I am taking it easy knowing it's Ramadhan and hopefullyonce it's over, I can expect an email or text from you...??

[Adam Montana] If I have anything to do with it, I'll make it happen the very next day!

[Adam Montana] (you are welcome )

[Adam Montana] next please!

[kcw] securityguy Adam;With this talk of US Banks opening in Iraq, would deposits in one of thosebanks at cash in be of any help with asset protection. Would it be possible toreceive good interest rates on deposits as I have heard you can get with Warka?Good being 5 % to 10 % interest.

[Adam Montana] Will it be possible to get good interest rates? YES. there are plenty of banks that pay MUCH more interest than we see in the US. There are plenty of options out there right now to earn much more than we can in a local CD! I plan to roll out some of those options to my OSI and VIP members soon.

[Adam Montana] Will those banks work for asset protection? In my opinion, NO. they are not private, they are susceptible to the same CRASH that the rest of our economy is advancing upon, and there is no "protection" from lawsuits, government seizures, or other dangers.

[Adam Montana] If you want information on some GOOD asset protection strategies, join my VIP group and look at the pinned topics

[Adam Montana] ok, that was it! Again, my friends... it's still Ramadan. Take some time off, get some sun, relax a bit... nothing is happening until August 18-19. If you're a VIP member, LOOK AT THOSE PINNED TOPICS! Now is the time to get in OSI, because I am focused 1000% on getting the OSI members lined up in the perfect spot.

[Adam Montana] Have a great week and weekend, everyone! Chat is officially over

[chopper2245]

thanks adam for the chat today. this may be a stupid question but what is OSI???????????

[rdoncampos]

Thanks Adam and Kcw

[BKD]

Thanks Adam. Hopefully we will see some movement after Aug 18-19.

[cisole]

Thanks for the chat Adam!

And the post KCW!

[nerd]

[Adam Montana] when they change the value of the currency, they will do so because they are ready to and because it will benefit them. I defy ANYONE to dispute that. I'll say it again: "When they change the value of the currency, they will do so because it will BENEFIT them". (Have at it, l0psters and other-website-owners-who-love-to-pick-apart-my-chats )

Well since I've been invited ( thanks! ): I don't see how a big sudden RV (even if they were possible which I don't see that they are) would benefit Iraq. Quite the contrary I think it would be terrible.

* The CBI basically has sold all the IQD that are outstanding now for the current rate. If they raise the rate, let alone radially (say to 0.10 that Adam suggests) then they will be buying back high while they sold low. This is a gigantic liability for the CBI. Its not just investors but ongoing imports that would be greatly increased if Iraqi's got a lot more money. BMW wants Euros for their cars not Dinars. Dell wants dollars for their PCs not dinars. Suppose there is a 0.10 RV, then M1 (the money folks have ready access to) would be 2.5T dollars worth (since M1 is 25T dinars). If only folks decide to spend only 10% of their new wealth to improve their life, that's $250B dollars the CBI ha to come up with for the imports these folks want to buy. Where does it come from? Foreign banks don't want dinars as there is nothing in Iraq others want to buy except oil (at least now and for the next decade or so) and Iraq very much want to get dollars (or euros or yen or any sold foreign currency) for its oil not dinars (the CBi can print up all the dinars they want).

* All prices and wages will immediately be reduced by the same multiple of the RV (e.g. if its a 0.10 RV or 100x then a 5,000 IQD loaf of bread before the RV would cost 50 IQD after the RV). But there are no provisions for price/wage controls so this will happen chaotically, which seems bad. But what about contracted rates? There one side will want to adhere to the contact and the other side will want to adjust it. So that seems like a big source of conflict.

* An RV multiples the stratification of the society as the more wealth you have the more likely you are to have more cash (in your pocket, mattress, or bank account), so its a big have vs have-not magnifier

* The folks that are likely to have the most cash around would perhaps be organized crime, which is not a group you want to make wealthy.

* There is a big random factor. A subsistence laborer who gets their weekly pay just before a 0.10 RV now has 2 years (100 weeks) of wages, while his buddy who gets paid after the RV just gets a weeks pay, which is now 1/100 the IQD it used to be. Same for someone who buys are car or loaf of bread just before or just after the RV. This would lead to a lot of angry people which in a fractionalized heavily armed society seems like a very bad idea.

So a huge overnight RV seems like a very bad idea for Iraq to me (so its a good thing they aren't possible! ).

Edited August 1, 2012 by nerd

[brbrlocke]

Thanks for the chat....

[nerd]

Rather than just negging me, I'd really rather hear why you think I'm wrong.

[okane]

thanks adam for the chat today. this may be a stupid question but what is OSI???????????

Off Shore Investment. It's the "bomb"! Asset protection, tax management, lots of benefits. If you have much invested in IQD it is something to consider.

[RodandStaff]

Significant... I know something "Significant"....

...sorry, I couldn't resist!!!

Thanks for the chat Adam... ummmm... ya got any more of them cheese curds, we'z bout out???

Thanks for posting kcw... I hope I didn't just derail a perfectly good chat, but I'z gettin hungry for cheese curds!!!

Edited August 1, 2012 by RodandStaff

[JWJW11]

Rather than just negging me, I'd really rather hear why you think I'm wrong.

I've told you a 100x why your wrong......look everyone ....its jmw....posing as a nerd!

Hopefully Adam gets rid of you again

[doctor robbins]

The only time that it benefits an emerging economy like Iraq's to have a currency value increase is when inflation is getting out of hand. That happened a few years ago and was happening a few months ago when they raised it a third of one percent. Right now it doesn't appear to be an issue.

[nerd]

I've told you a 100x why your wrong......look everyone ....its jmw....posing as a nerd!

Hopefully Adam gets rid of you again

Since I am not JMW I have not heard any such thing. If you would like to address the specific points I made I welcome the discussion. If you are just going to keep up this attack how about just putting me on ignore and letting it go?

The only time that it benefits an emerging economy like Iraq's to have a currency value increase is when inflation is getting out of hand. That happened a few years ago and was happening a few months ago when they raised it a third of one percent. Right now it doesn't appear to be an issue.

Right, the key being 0.3% not even 10% let alone 100% or 1,000% or .... Economies and societies don't do well with large shocks. Edited August 1, 2012 by nerd

[JWJW11]

Since I am not JMW I have not heard any such thing. If you would like to address the specific points I made I welcome the discussion. If you are just going to keep up this attack how about just putting me on ignore and letting it go?

Right, the key being 0.3% not even 10% let alone 100% or 1,000% or .... Economies and societies don't do well with large shocks.

Lmao u really do have some issues.....it must suck being u

[okane]

Rather than just negging me, I'd really rather hear why you think I'm wrong.

I think you're wrong. Why are you trying to start a fight? Over what? Are you confused with the crap you may have read on another site? Your entire issue is over some "huge" RV, right? When did Adam ever ...... EVER say we should expect a huge RV.

Oh yeah, he can be quoted as saying $13 dollars but that was a JOKE!

[nerd]

I think you're wrong. Why are you trying to start a fight? Over what? Are you confused with the crap you may have read on another site? Your entire issue is over some "huge" RV, right? When did Adam ever ...... EVER say we should expect a huge RV.

Oh yeah, he can be quoted as saying $13 dollars but that was a JOKE!

If you read my post you will see that I used Adam's proposed $0.10 RV, and yes that (100x or 1,000%) would be titanically huge. Actual RVs (like the one Iraq did back going from 1189 to 1166) are typically less then 1%. And what fight? Adam specifically said "have at it". If he was't serous about that, then I apologize, but I think he was serious.

So you think I am wrong. OK great, WHY? support your claim don't just assert it. Otherwise its just a is-not/is-so spat and I have no interest in that.

[easyrider]

Since I am not JMW I have not heard any such thing. If you would like to address the specific points I made I welcome the discussion. If you are just going to keep up this attack how about just putting me on ignore and letting it go?

Right, the key being 0.3% not even 10% let alone 100% or 1,000% or .... Economies and societies don't do well with large shocks.

Well i hate to burst your little bubble but thats exactly whats coming and the markets are gonna have to deal with it one way or another and get over it. The euro is through and hinges on a global collapse theres no more bailing the euro out any longer tried that and well you can see what has happened. Changes are coming and wherther you believe its a hoax or conspiracy or not is irrelevant something has to change we have tried this system and it doesnt work any longer countries are too far in debt and only burying themselves to a bottomless pit.

Edited August 1, 2012 by easyrider

[Caye98]

thanks adam for the chat today. this may be a stupid question but what is OSI???????????

OffShore Investment, a most excellent place to be (a further extension/option beyond VIP)

[nerd]

Well i hate to burst your little bubble but thats exactly whats coming and the markets are gonna have to deal with it one way or another and get over it. The euro is through and hinges on a global collapse theres no more bailing the euro out any longer tried that and well you can see what has happened. Changes are coming and wherther you believe its a hoax or conspiracy or not is irrelevant something has to change we have tried this system and it doesnt work any longer countries are too far in debt and only burying themselves to a bottomless pit.

Yes I think its a myth. But, for the sake of argument, suppose a new global system was in the making. Clearly to make that happen all the folks running the current system would have to agree to it, right? So why would they agree to put a 3rd world country with a tiny GDP, is constantly on the brink of civil war, can't keep the lights on, is plagued by corruption, and can't even seat its own government at the head of the list? Edited August 1, 2012 by nerd

[easyrider]

Yes I think its a myth. But, for the sake of argument, suppose a new global system was in the making. Clearly to make that happen all the folks running the current system would have to agree to it, right? So why would they agree to put a 3rd world country with a tiny GDP that is constantly on the brink of war and can't even seat its own government at the head of the list?

so let me ask you whats the answer? you know as well as i do that the system has failed countries have enormous amounts of debt. Well then you have to ask yourself this? why did a whole bunch of countries forgive Iraq's debt maybe because they see potential or know something we dont. Stop thinking inside your little bubble.

Yes I think its a myth. But, for the sake of argument, suppose a new global system was in the making. Clearly to make that happen all the folks running the current system would have to agree to it, right? So why would they agree to put a 3rd world country with a tiny GDP, is constantly on the brink of civil war, can't keep the lights on, is plagued by corruption, and can't even seat its own government at the head of the list?

they are just learning from the good ole USA you dont think Washington is corrupt? we just know how to hide it better than them. Yes, the dollar is stable because its used widely throughout the world but for how long? what will happen when the euro crashes? these are some serious questions and concerns with most major players

Edited August 1, 2012 by easyrider

[bales130]

Well since I've been invited ( thanks! ): I don't see how a big sudden RV (even if they were possible which I don't see that they are) would benefit Iraq. Quite the contrary I think it would be terrible.

* The CBI basically has sold all the IQD that are outstanding now for the current rate. If they raise the rate, let alone radially (say to 0.10 that Adam suggests) then they will be buying back high while they sold low. This is a gigantic liability for the CBI. Its not just investors but ongoing imports that would be greatly increased if Iraqi's got a lot more money. BMW wants Euros for their cars not Dinars. Dell wants dollars for their PCs not dinars. Suppose there is a 0.10 RV, then M1 (the money folks have ready access to) would be 2.5T dollars worth (since M1 is 25T dinars). If only folks decide to spend only 10% of their new wealth to improve their life, that's $250B dollars the CBI ha to come up with for the imports these folks want to buy. Where does it come from? Foreign banks don't want dinars as there is nothing in Iraq others want to buy except oil (at least now and for the next decade or so) and Iraq very much want to get dollars (or euros or yen or any sold foreign currency) for its oil not dinars (the CBi can print up all the dinars they want).

* All prices and wages will immediately be reduced by the same multiple of the RV (e.g. if its a 0.10 RV or 100x then a 5,000 IQD loaf of bread before the RV would cost 50 IQD after the RV). But there are no provisions for price/wage controls so this will happen chaotically, which seems bad. But what about contracted rates? There one side will want to adhere to the contact and the other side will want to adjust it. So that seems like a big source of conflict.

* An RV multiples the stratification of the society as the more wealth you have the more likely you are to have more cash (in your pocket, mattress, or bank account), so its a big have vs have-not magnifier

* The folks that are likely to have the most cash around would perhaps be organized crime, which is not a group you want to make wealthy.

* There is a big random factor. A subsistence laborer who gets their weekly pay just before a 0.10 RV now has 2 years (100 weeks) of wages, while his buddy who gets paid after the RV just gets a weeks pay, which is now 1/100 the IQD it used to be. Same for someone who buys are car or loaf of bread just before or just after the RV. This would lead to a lot of angry people which in a fractionalized heavily armed society seems like a very bad idea.

So a huge overnight RV seems like a very bad idea for Iraq to me (so its a good thing they aren't possible! ).

NERD,

Your missing one major detail, They have been reducing the money supply for over two years now. The Dinar is being held at a dirty float, the numbers you have pulled off the CBI web page are not the real M1 AND M2.

With Iraq reducing the money supply alone would increase the value of their currency, not to mention the oil, natural gas, gold, low inflation rate, and every country on the planet investing in them.

[MovieMaker]

Appreciate Wed. chats and postings, thanks!

[nerd]

so let me ask you whats the answer?

Better financial controls and regulation (e.g. Basil III), living within your means.

you know as well as i do that the system has failed countries have enormous amounts of debt. Well then you have to ask yourself this? why did a whole bunch of countries forgive Iraq's debt maybe because they see potential or know something we dont.

No, because Iraq's debt was small and the west wants a stable oil supply and to get that Iraq (and the rest of the region) needs to have an economy that works.

Stop thinking inside your little bubble.

Yea yea, everyone that does not believe the conspiracy sites is in a little bubble.

they are just learning from the good ole USA you dont think Washington is corrupt? we just know how to hide it better than them. Yes, the dollar is stable because its used widely throughout the wolrd but for how long? what will happen when the euro crashes?

The Euro is not going to crash as it is in no ones interest to allow it to do so. Indeed the dollar IS the most widely used currency. So if we want to have some magic RV to help the world, why not RV the dollar?

None of this answers the questions I asked you.. Care to do so?

Edited August 1, 2012 by nerd

[easyrider]

Better financial controls and regulation (e.g. Basil III), living within your means.

No, because Iraq's debt was small and the west wants a stable oil supply and to get that Iraq (and the rest of the region) needs to have an economy that works.

Yea yea, everyone that does not believe the conspiracy sites is in a little bubble.

The Euro is not going to crash as it is in no ones interest to allow it to do so. Indeed the dollar IS the most widely used currency. So if we want to have some magic RV to help the world, why not RV the dollar?

None of this answers the questions I asked you.. Care to do so?

u sure the euro isnt going to crash? what do you expect for it to be bailed out with billions od dollars that we are gonna pull out of thin air? print print print right? thats really gonna solve the problem. So your saying the financial inspectors that have been in the markets for 30+ years are conspiracy theorists off bloomberg?

Edited August 1, 2012 by easyrider

[nerd]

NERD,

Your missing one major detail, They have been reducing the money supply for over two years now. The Dinar is being held at a dirty float, the numbers you have pulled off the CBI web page are not the real M1 AND M2.

With Iraq reducing the money supply alone would increase the value of their currency, not to mention the oil, natural gas, gold, low inflation rate, and every country on the planet investing in them.

So if the figures the CBI offers are wildly wrong (i.e. off by 100x) then so must the GOI's budget and so must be Iraq's GDP and so must be the amount of oil they are shipping and ... it just can't be true. There are too many external things that correctly tie in. Are all the buyers of Iraq's oil lying about how much they are buying? Is all of Iraq who are getting paid by the GOI lying about it? For the money supply to be 100x smaller than reported that would mean that there are basically NO dinars left on the streets of Iraq, but I have seen no reports from Iraq that say this. No one seems to have noticed this radical change. So I'm thinking it hasn't in fact happened.

The dinar is also not on a float at all, it is pegged.

I have seen no one offer any evidence that the money supply is going down, quite the contrary it looks to be (slowly) going up. Nor is there any evidence that other countries (as opposed to companies that are making some investments) have invested in dinar.

No offense, but I think you have been pumped.

u sure the euro isnt going to crash? what do you expect for it to be bailed out with billions od dollars that we are gonna pull out of thin air?

No by the ECB.

print print print right? thats really gonna solve the problem.

In the short term some more borrowing/printing indeed will be needed. But it was not the currency system that caused our current financial mess, but the fact that financial institutions were allowed to invent derivatives and everyone everywhere bought them.

So your saying the financial inspectors that have been in the markets for 30+ years are conspiracy theorists off bloomberg?

Don't know what you mean here.

and you still have not answered my question: how would this new system work and why would Iraq be made the wealthiest nation on earth by the very same people who are in charge of the current system?

got to run, but I'll be back later.