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Adam's Official Chat 7-24-2013


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Topic: official chat NO TYPING

10:23 AM [Adam Montana] ok official chat time, please no typing
10:23 AM
[Adam Montana] This one will be fairly short
10:24 AM
[Adam Montana] Now I've been scouring the internet all week looking for something solid.... there is a LOT of talking going on right now, but they aren't talking about what I want to hear: HCL

 

10:25 AM [Adam Montana] Here's what we HAVE seen, though: In the banking sector all of the banks have agreed to go along with whatever rate the CBI sets. We must understand how important this is, because although the CBI sets the rate, they need the cooperation of at least the majority of the individual banks - and they have the support of ALL the individual banks. This is a great sign.

10:27 AM [Adam Montana] In addition to that, the DFI is voicing the desire to speed up the "improvement" of the value for the benefit of the Iraqi people, and despite the original plans to have tomorrow be a non-auction holiday, they have decided to continue working... that might also be something to watch towards the end of this week
 

10:29 AM [Adam Montana] So that's the situation "in a nutshell"... unfortunately, even though the banks and CBI are showing positive moves, I still want some solid HCL news before I get too excited. With all the yapping from Ban Kai and the rest of the talking heads lately, it seems to me that they are attempting to divert attention away from something.
 

10:29 AM [Adam Montana] That could be a positive sign, if they are trying to make sure they are fresh in everyone's brains so they can try to take credit for a major event like an RV

10:30 AM [Adam Montana] or they might just be fluffing, knowing that nothing is going to happen before Ramadan is over

10:30 AM [Adam Montana] Lucky for us, either way - Ramadan is almost over. So, hang in there my friends.
 

10:31 AM [Adam Montana] Ok, Q&A time! I removed a lot of them just because the basic stuff is covered at length in my book, has been covered dozens of times in past chats, and the VIP questions need to stay in VIP    
10:31 AM
[Adam Montana] fire away!

 

10:31 AM [kcw] Annika Good morning Adam,.. (does the) interest of American banks in Iraq post a problem in the process as far as wanting to get in on the "action" and possibly hindering progress with the cbi?
 

10:32 AM [Adam Montana] Hi Annika, that is a good question. I say "no" - in fact, the opposite. The CBI will always control the Dinar no matter how many "other" banks move in... but the fact that strong banks are willing to move into Iraq shows support for their economy, business atmosphere, and is a good thing for us. :twothumbs:
10:32 AM
[Adam Montana] next please!

 

10:32 AM [kcw] RV-2-Day Adam Is there any indication that the U.S Government is holding an amount of Dinar?
 

10:33 AM [Adam Montana] Well... that's a tricky one. There are tons of rumors, but no way to actually verify it or disprove it. I do feel like our government would have some stashed away somewhere!
10:33 AM
[Adam Montana] next please!

 

10:33 AM [kcw] Thumper Hey Adam! My investment in the pie industry is going great! Thank you for suggesting to invest in pies! So far I have not made any money and it is difficult actually keep a good stockpile of pies because I eat them daily. You response to most Dinar RV questions is "look to the CBI". There is so much garabage floating around about the RV. Are there any signs to look for that would indicate a coming RV? Other than the rate changing on the CBI website ofcourse...Thanks Adam!
 

10:34 AM [Adam Montana] I'm happy to hear the pie business is keeping you busy! In addition to the CBI, I'm watching for solid news on the HCL. That's pretty much the final key.
10:34 AM
[Adam Montana] next please!

 

10:34 AM [kcw] Marj1st Hello Adam! … is there any situation you could foresee that would bring you to open the VIP opportunity again? Additionally, are you still predicting a ballpark figure of $.10 per $1?
 

10:36 AM [Adam Montana] VIP - I'm very happy with the size of our group right now, but I will consider it. Regarding the rate, if you read my thesis on it you'll understand WHY I say .10 to $1 - it's not just some random numbers or something a VP saw on a bank screen - my numbers are based on what makes sense from a business standpoint.
10:36 AM
[Adam Montana] You can read my thesis here: http://iqd.me/l/rvrate
10:36 AM
[Adam Montana] next please!

 

10:36 AM [kcw] countryroads Hi Adam. I've been thinking again (more headaches). Can you tell us what advantage it might be to anyone to try and hold up the RV?
 

10:38 AM [Adam Montana] That's another good question. I don't think there is an advantage to "holding up" the RV, but there is definitely a disadvantage to pulling the trigger before every duck is properly lined up. They need an officially passed HCL in order to make their oil business greatly successful, and we all know that in order for them to RV they need to be able to back it up. The HCL is once again the key there, now that Chapter 7 is done. :twothumbs:
10:38 AM
[Adam Montana] next please!

 

10:38 AM [kcw] GameChanger Adam, Why would Iraq NOT RV?
10:38 AM [Adam Montana] :shrug:
10:38 AM
[Adam Montana] next please!

 

10:38 AM [kcw] eburt Hello Adam and Mods thanks for ALL you do for us on this site. Since release of Chapter 7 it seems like there is so much chaos in Iraq when it comes to HCL, Security, government, etc, My question is are we back to the drawing broad of waiting for a very long time for this thing to RV? I know we are waiting on HCL to pass but it's looking like at the earliest mid August for a possiblle RV. I trying to be as patient as I can. Again thanks for everything - GO RV
 

10:39 AM [Adam Montana] I'm perfectly ok with mid August :twothumbs:
10:39 AM
[Adam Montana] next please!

 

10:39 AM [kcw] shydude Thank You Adam for being you and keeping a level head with all of us beginners. My question is this - Is anybody watching to see if the new currency is or has been printed? To RV they will need the lower denom bills for change on the streets. This would indicate if we have days or weeks, if they have not the new bills it could be months. Just curious so I can regulate my anticipation accordingly and smooth out this ride.

10:41 AM [Adam Montana] I've actually heard from several of the people I talk to in Iraq that the new currency is ALREADY printed. And you are correcct - in order to RV they will need the lower denominations in short order, but it doesn't have to happen immediately. If they RV to a rate that is pegged to the USD, and the rate is at least .10, then they can use USD to make change while waiting for the new IRaqi Dinar lower denoms to get into circulation.

 

10:43 AM [Adam Montana] One more thought on the lower denoms - let's say we have a 1-1 RV. When you take 500,000 IQD into the bank they aren't going to give you back 500,000 USD or even 500,000 lower IQD notes - they are going to require it to be deposited, where it becomes a digital number and not a physical note. The electronic banking systems in Iraq have come a long way recently, and I believe this is one reason for it (and also one of the reasons they could not have possibly RV'd say, 2 or 3 years ago.)
10:43 AM
[Adam Montana] next please!

 

10:43 AM [kcw] NMW Hello Adam, Thank you for keeping us on target with everything. My question is this, I know that there has always been fighting in Iraq and there wil always be fighting in Iraq, but with the increase in violence and deaths and especially with the suicide bombing at the prisons, do you think this will have a negative output on the RV? It seems to be getting worse all the time.

10:45 AM [Adam Montana] People say that from time to time, but it's simply not true. First, does anyone believe that Iraq was a peaceful country back when the IQD was at the higher rate? Well, it wasn't! There has always been violence in the Middle East, and particularly in Iraq, but that's not going to stop them from raising the value of their currency. :twocents:
10:45 AM
[Adam Montana] next please!

 

 

10:45 AM [kcw] jon29 Hello Adam, some are beginning to panic that Iraq may be slipping into another civil war, regardless of this I tend to believe they will stay the course with their political agenda's and getting their currency on stronger footing against the U.S. Dollar, your thoughts?

10:46 AM [Adam Montana] jon29 see my comment above - I believe they will stay the course. :twothumbs:

10:46 AM
[Adam Montana] Ok everyone, that was it! No RV as of today, but things are not looking bad for us. Hang in there, and I'll see you soon. Thanks!

 

 

 

 

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I know someone who has consistently said the HCL will not be passed until after the rate change.

 

He said that if the HCL was passed and the contracts and payments to the people were activated at the current rate and THEN the CBI changed the rate it would be an accounting disaster stopping all contracts and payments until amendments for the rate change could be made.

 

So he is saying we will first see the rate change and right after the HCL will be passed.

 

:twocents:

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Coolbeans: Based on what you are saying, if they have made considerable progress with the HCL, as many claim, they must know the rate to have built it in to the agreements thus far. Sort of goes allong with what Adam said about the Banks agreeing on the proposed CBI Rate. Interesting thought. To go even further,what is to prevent them from continuing to do business as usual, internally knowing the rate and continuing to put togather the HCL based on the new rate. If all that were the case, we could see eather the HCL or the RV first or see them anounced togather.

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Here's my 2 cents, its halfway through the year and crude oil prices are rising again and are forecast to top $123 pb by the end of the year. It is the perfect time for Iraq to start incresing the value of the dinar because they are going to be selling more oil to help cover the cost of a RV. Even though the Iraqi government has enough in reserves they really don't want to deplete them.

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Thanks Adam! :tiphat:  Positive chat. :bravo:  I am looking forward to seeing/getting those newly printed notes post RI/RV!  :twothumbs:

 

I could do without some of the distracting personal opinions and commentary provided here in some of the feedback. Could people who care to post such things keep it in other forums so we can more easily avoid their rants? :twocents:    

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Coolbeans: Based on what you are saying, if they have made considerable progress with the HCL, as many claim, they must know the rate to have built it in to the agreements thus far. Sort of goes allong with what Adam said about the Banks agreeing on the proposed CBI Rate. Interesting thought. To go even further,what is to prevent them from continuing to do business as usual, internally knowing the rate and continuing to put togather the HCL based on the new rate. If all that were the case, we could see eather the HCL or the RV first or see them anounced togather.

RESPECTFULLY DISAGREE ON THEY MUST KNOW THE RATE  -  the HCL is a negotiation. The rate will be adjusted to whatever they agree upon.

IMHO

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:shrug: Reading today seems more like a TV talk show I know...being a devoted FOX news person (however watching others) I do compare, and notice that the positive news and guest on FOX.  Wonder why that is?  #'s continue to drop for the "sad" Obama... :butt-kicking: Thanks Adam--Go RV Please

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Okay - I have removed all posts relating to anything "political". They do not belong in Adam's chat thread. If you want to discuss politics, there is a forum for that so do it there.

 

:cowboy2:

So why are people who have negative triple digits continued to be allowed to post and not kicked out of here. I have seen negs even reset for somw people on here. If enough negs have accumulated as a whiole you could save the MODS a whole lot of heart ache by actually using the system for some real good. :twocents:

Edited by Rogue Knight
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So why are people who have negative triple digits continued to be allowed to post and not kicked out of here. I have seen negs even reset for somw people on here. If enough negs have accumulated as a whiole you could save the MODS a whole lot of heart ache by actually using the system for some real good. :twocents:

If you have a problem with the way the site is run, please post your issue in the support forum. NOT in Adam's chat thread. :angry:

 

:cowboy2:

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10:25 AM [Adam Montana] Here's what we HAVE seen, though: In the banking sector all of the banks have agreed to go along with whatever rate the CBI sets. We must understand how important this is, because although the CBI sets the rate, they need the cooperation of at least the majority of the individual banks - and they have the support of ALL the individual banks. This is a great sign.

 

Maybe some readin' this chat didn't really catch that.. :huh: .. "This is a great sign".... for something to become recognized Internationally it has to be accepted by banks all over the world... like the bank in your home town... or the bank down the street!!!   :eyebrows:  That is great news... now just one more thing to say... for cryin' out loud boyz... "Git-It-Dun"!!!   :D 

 

Thanks mod's for postin' and thanks as always Adam for the solid, positive chat!!!  ;) 

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I know someone who has consistently said the HCL will not be passed until after the rate change.

 

He said that if the HCL was passed and the contracts and payments to the people were activated at the current rate and THEN the CBI changed the rate it would be an accounting disaster stopping all contracts and payments until amendments for the rate change could be made.

 

So he is saying we will first see the rate change and right after the HCL will be passed.

 

:twocents:

I don't see why they would need a rate to pass it since any distributions could simply be based on percentages and not a specific dinar amount. For example, if they said the Kurds were getting 20%,  it does not matter what the IQD is worth because they get 20% of whatever the value is.

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