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Adams Wed chat 3-20-2013

VIZIOIRAQI

By VIZIOIRAQI,
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VIZIOIRAQI Newbie

VIZIOIRAQI

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[Adam Montana] Good morning everyone! I hate to rush these chats, but I had an important event "spring" into my schedule (see what I did there?    )
[Adam Montana] so I am going to keep this short and sweet and hopefully still get to a couple of the questions posted this week    
[Adam Montana] This week has brought some interesting news that should give us a hopeful outlook on our near future

[Adam Montana] The Kurds are not exactly happy with the decisions made regarding the budget, and it appears they have even tried boycotting some Parliament sessions... but the meetings have went forward just the same, which is a sign that the Kurds cannot impede on the progress that the GOI intends to make. This is EXCELLENT for us.

[Adam Montana] And we actually have an intended date for Kuwait to officially support the release of Iraq from Chapter 7 - they are aiming for April. Of course, it is still up to the UN regardless of what Kuwait says or does, but the fact that we have a target date is a great thing. (Way better than "soon"!)

[Adam Montana] Of course, none of this indicates a guaranteed RV or a guaranteed date, but it IS good progress and that's what I like to see.

[Adam Montana] So if I had to put a date on anything, I would definitely be aiming for mid to late April. (I hate giving dates, and I have historically avoided doing so. This is just a "watch" date, not a prediction.)

[Adam Montana] Ok, on to the questions!
[kcw] poorman Adam please explain forex pros. Is the iqd being traded ? MARCH 14,2013 READS 1148.15. MARCH 17,2013 1151.25. SOME SAY NO.WHATS YOUR OPINION?

[Adam Montana] forexpros tracks trads and keeps up with the IQD - I don't know why they list it when it's not being traded, but they do. Do not rely on forexpros as an indicator of the IQD being traded

[Adam Montana] next please!
[kcw] 1risktaker Question brought over as a concern from another post. 1. As the VALUE of the currency rises then a problem also arises. If I borrowed 25000 dinars (worth $21) and the VALUE of the dinar rises to $1 per dinar, then do I owe you $25000?

[Adam Montana] GREAT question, and one that confuses many people

[Adam Montana] Here's what we expect: if the value of your bank account is 25,000 IQD today, and tomorrow the value of a single IQD goes up - your bank account should not change the number. You will hopefully be blessed with the benefit of a higher value account. Similarly, if you have a debit with a specific number on it, such as 25,000, that will not change - you will still owe 25,000.

[Adam Montana] Now the part that really confuses people is the value of OTHER things
[Adam Montana] such as oil.

[Adam Montana] if a barrel of oil is currently worth 100,000 IQD
[Adam Montana] and the value of the single IQD is raised

[Adam Montana] that will NOT raise the value of the barrel of oil, therefore the numerical price tag on the barrel of oil will be changed

[Adam Montana] so a barrel of oil will not be sold for 100,000 IQD - it will be sold for 100.

[Adam Montana] next please!
[kcw] Benelli Adam, thanks for everything. I know your stance on the need for passage of the HCL, but Since this year's budget includes profit sharing with the Kurds, does that negate the need for the HCL to move the rv forward? I assume the HCL includes many other items, but was under the impression that profit sharing was the major hurdle. Maybe the HCL is just one more "check mark" for Iraq to show political stability?

[Adam Montana] Good question Benelli. The need for the HCL will never go away - it is imperative that a law be established to dictate how Oil and Gas is handled in that land. I will add one thing - you are right, the HCL has a bit more to it than just profit sharing

[Adam Montana] next please
[kcw] strolld2 Adam, I read that Cyprus was seizing their citizen 's bank accounts and I was wondering if you read anything about this? Just asking since I think Cyprus was mentioned before about a banking possibility after the RV. Thank you for all of your diligence to make this a success for us all!

[Adam Montana] One f my primary financial advisers was just talking to me about this yesterday, and I found it a bit amusing that so much of the world is hanging on this... nonetheless, that is still a great question

[Adam Montana] the difference lies in WHO owns the bank accounts. The citizens of Cyprus (all of Greece, actually) - I feel bad for them. Even though they did not get screwed this time around, it is coming and they are all directly in front of that trainwreck

[Adam Montana] Good news for people who are NOT citizens... if you opted to use Cyprus for offshore banking, the rules are dramatically different and most likely you will dodge the bullet

[Adam Montana] I'll save the rest of that information for our OSI members. Of course the specifics are out there for anyone to find if you need to, but if you're an OSI or VIP member just post in the VIP section and I'll explain it further :tiphat:

[Adam Montana] next please!
[kcw] Hopeful_Investor The other night my church's resident dinar guru quoted a date of May 22nd. I think he gets his information from the main guru himself.....

[Adam Montana] :lol: I think everyone can see why that question got chopped. ;

[Adam Montana] next please!
[kcw] idplzr Wow! great questions this week so ill ask the really hard ones. How long will it be before us cheeseheads see a defense that will compliment our high powered offense? After rv can we have enough pull to get a running back? I am more frustrated with the lack of urgency while Rogers is in his prime than I am with Iraq. Sorry for the rant, but come playoff time we probably won't be able to match the two powerhouses in the NFC West(Niners & Seachickens)...

[Adam Montana] I don't have an answer for that... but I feel your frustration. :tiphat:

[Adam Montana] next please!
[kcw] chess ADAM: If a worst case scenario were to happen...would the Kurds produce their own currency? Then is it probable to have a Sunni/ Shiite currency only?.....thanks

[Adam Montana] That is an EXCELLENT question. I don't think it will happen, in fact I think it's more likely that the entire region would go to one currency before they would split up and use a different "Kurdish" currency. Also, since (as I explained last week) the "Kurdish" region is so hard to define, they don't even technically have their own "country"... it would be really hard to do. I don't think they will be leaving Iraq

[Adam Montana] next please!
[kcw] millionaire in training Adam, Ive been reading in the VIP section on IBC. Is that the same as an offshore shell corp. Im confused.

[Adam Montana] Millionaire, an "IBC" is an "International Business Company" - basically the same thing as an offshore shell corp. Don't let the "shell" part mislead you    

[Adam Montana] next please!
[kcw] millionaire in training Adam, Can I open an offshore shell corporation with dinars? I saw something on line to that effect but I want your thoughts on this. What do you think ?

[Adam Montana] Great question. The idea behind our OSI strategy is to transfer ownership of an asset to an entity that will not be liable for taxes on a major growth, and also protect it from frivolous liabilities. Feel free to post any further questions in the VIP section, or send an email to VIP support. :tiphat:

[Adam Montana] That's it friends! I'll pop back in with any new info, I wish you all a great day and wonderful week    
 

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coolbeans Newbie

coolbeans

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[Adam Montana] next please
[kcw] strolld2 Adam, I read that Cyprus was seizing their citizen 's bank accounts and I was wondering if you read anything about this? Just asking since I think Cyprus was mentioned before about a banking possibility after the RV. Thank you for all of your diligence to make this a success for us all!

[Adam Montana] One f my primary financial advisers was just talking to me about this yesterday, and I found it a bit amusing that so much of the world is hanging on this... nonetheless, that is still a great question

[Adam Montana] the difference lies in WHO owns the bank accounts. The citizens of Cyprus (all of Greece, actually) - I feel bad for them. Even though they did not get screwed this time around, it is coming and they are all directly in front of that trainwreck

[Adam Montana] Good news for people who are NOT citizens... if you opted to use Cyprus for offshore banking, the rules are dramatically different and most likely you will dodge the bullet

 

 

Adam you might want to talk to your advisory again as it seems the primary problem in Cyprus is all of the foreign investors who will be having their funds seized.

 

In fact the British government had to send in a plane load of Euros for all of the British troops in Cyprus as their accounts like all others have been frozen. 

 

 

The great EU bank robbery: British taxpayers to bail out victims of outrageous raid on Cyprus accounts
  • British Government will reimburse military victims of EU's Cyprus cash grab
  • But 60,000 other Britons still face losing money after bail out
  • Chaos as banks empty cashpoints and ban online transfers 
  • Bank tax could have repercussions across Eurozone and beyond
  • http://www.ukcolumn.org/forum/economy/great-eu-bank-robbery
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Adam Montana Proficient

Adam Montana

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[Adam Montana] next please

[kcw] strolld2 Adam, I read that Cyprus was seizing their citizen 's bank accounts and I was wondering if you read anything about this? Just asking since I think Cyprus was mentioned before about a banking possibility after the RV. Thank you for all of your diligence to make this a success for us all!

[Adam Montana] One f my primary financial advisers was just talking to me about this yesterday, and I found it a bit amusing that so much of the world is hanging on this... nonetheless, that is still a great question

[Adam Montana] the difference lies in WHO owns the bank accounts. The citizens of Cyprus (all of Greece, actually) - I feel bad for them. Even though they did not get screwed this time around, it is coming and they are all directly in front of that trainwreck

[Adam Montana] Good news for people who are NOT citizens... if you opted to use Cyprus for offshore banking, the rules are dramatically different and most likely you will dodge the bullet

 

 

Adam you might want to talk to your advisory again as it seems the primary problem in Cyprus is all of the foreign investors who will be having their funds seized.

 

In fact the British government had to send in a plane load of Euros for all of the British troops in Cyprus as their accounts like all others have been frozen. 

 

 

The great EU bank robbery: British taxpayers to bail out victims of outrageous raid on Cyprus accounts
  • British Government will reimburse military victims of EU's Cyprus cash grab
  • But 60,000 other Britons still face losing money after bail out
  • Chaos as banks empty cashpoints and ban online transfers 
  • Bank tax could have repercussions across Eurozone and beyond
  • http://www.ukcolumn.org/forum/economy/great-eu-bank-robbery

 

Like I said, anyone who has questions on this can post in the VIP section or preferably the OSI section and I am happy to address and answer. 

 

I'm not going to spend a lot of time talking about things that aren't relevant... since most of us are not Brits, nor are we Cyprus citizens, most of us don't need to worry about it.

My commentary on this issue was directed at people using Cyprus banks for offshore banking, and if you are an OSI member then you know we do not use these banks as citizens.

 

The difference (and the devil) is always in the details. :twothumbs:

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TomRiddle Newbie

TomRiddle

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[Adam Montana] So if I had to put a date on anything, I would definitely be aiming for mid to late April. (I hate giving dates, and I have historically avoided doing so. This is just a "watch" date, not a prediction.)

Read more: http://dinarvets.com/forums/index.php?/topic/144215-adams-wed-chat-3-20-2013/#ixzz2O65ycEw8

You know we're close when Adam offers a window. As always :soon:

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RodandStaff Rookie

RodandStaff

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1)   [Adam Montana] The Kurds are not exactly happy with the decisions made regarding the budget, and it appears they have even tried boycotting some Parliament sessions... but the meetings have went forward just the same, which is a sign that the Kurds cannot impede on the progress that the GOI intends to make. This is EXCELLENT for us.           

 

...Talk about a sigh of relief imo... it sounds nice that everyone doesn't have to be in 100% agreement to get things done in Iraq.... that's imo good for us!!!  :D 

2) [Adam Montana] And we actually have an intended date for Kuwait to officially support the release of Iraq from Chapter 7 - they are aiming for April. Of course, it is still up to the UN regardless of what Kuwait says or does, but the fact that we have a target date is a great thing. (Way better than "soon"!)

...again, even more good news... the Kuwaitis have been one of the biggest roadblocks to release of Ch.7 from what I know... and it's good that they finally appear "appeased" enough to let it go of the grudge they have with Iraq.  Now if the U.N. will get on board that would be one of the biggest pieces of news that folks have been diligently waiting on for years... I think this could be labeled a "banner chat" if'n you ask me!!!  ;)

 

 

Like I said, anyone who has questions on this can post in the VIP section or preferably the OSI section and I am happy to address and answer. 

 

I'm not going to spend a lot of time talking about things that aren't relevant... since most of us are not Brits, nor are we Cyprus citizens, most of us don't need to worry about it.

My commentary on this issue was directed at people using Cyprus banks for offshore banking, and if you are an OSI member then you know we do not use these banks as citizens.

 

The difference (and the devil) is always in the details. :twothumbs:

I don't understand why anyone would neg you Adam for explaining a situation like this.... I know I appreciate the explanation... and no, I'm not a "teachers pet" ya'll... I'll say what needs to be said, as tactfully as I can, but say it none the less... so why get miffed with Adam for takin the time to answer a question?  Not everything is going to "stroke our fancy" all the time... but hey, that's life!  I for one want Adam to answer the questions... even the tough ones... honestly and straight forward... no candy coating, and I appreciate it when he does.  If that bothers some of ya'll... maybe this ain't the right site for ya, I'm sure there are other sights that say just what you want to hear, even if they have to make it up... just sayin!!! 

 

Thanks for posting Viz, and thanks Adam for bringin it once again... as always, good chat!!!  ;) 

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Hopeful_Investor Newbie

Hopeful_Investor

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[Adam Montana] next please!

[kcw] Hopeful_Investor The other night my church's resident dinar guru quoted a date of May 22nd. I think he gets his information from the main guru himself.....

[Adam Montana] :lol: I think everyone can see why that question got chopped. ;

[Adam Montana] next please!

 

 

Umm.... Actually, no I don't see why my question was chopped. It was chopped before it even got to the question. I was sincerly hoping for a reply. My question was, have you heard anything about this date?

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