Adams Wed chat 8-21-2013

[VIZIOIRAQI]

[Adam Montana] Saint kcw does that stuff on purpose. I bet she was putting a bucket of water over it or something tricky like that!

[Adam Montana] ok, great! If you guys are ready I'll jump right into this... today's chat should be interesting

[Adam Montana] ok official chat in progress
[Adam Montana] I just realized this morning that it's been a while since I did a broader overview of Iraq and the situation there, and more specifically... how we got to where we are today

[Adam Montana] We spend a lot of time looking at the articles and the news, but sometimes it is helpful to step back and look at the big picture

[Adam Montana] first, way back when Saddam was in power... Iraq had a very strong currency. Some say it was artifically inflated, but SO WHAT - they were getting over $3 for it, so the "why" or "how" it was over $3 is irrelevant.

[Adam Montana] Then Saddam was taken out for crimes against humanity - I don't think anyone will argue that point, he was a horrible man - and the country fell into chaos, the value of the dinar plunged to a dismal rate, and the Iraqi people LOST a great amount of wealth basically overnight.

[Adam Montana] I'll sidetrack here for a second... if it is possible for that value to be LOST in the blink of an eye, based on the world's lost faith in Iraq... then I contend it is reasonable that the same wealth could be REGAINED in a blink of an eye as well, based on a renewed faith in Iraq.


[Adam Montana] now fast forward to the present day. The value of the Iraqi dinar has climbed to double the rate it fell to, which is awesome. I believe the trend is continuing upwards, but "how fast" depends on several things... Chapter 7, HCL, GOI, etc. I'll get to those in a minute, just hang with me for a few more key points.

[Adam Montana] Prime Minister of Iraq has his share of critics, and he also has his share of allies. The current government of Iraq is broken down like this:

[Adam Montana] There are 3 parts: Chief of State (Talabani), Prime Minister (Maliki), and Parliament

[Adam Montana] Parliament elects the PM every 4 years, and just this year (January) Maliki's opposition was able to put a law in place that prevents a PM from serving more than 2 terms.... which means that Maliki is on his way out.

[Adam Montana] HOWEVER! This is where it gets fun    

[Adam Montana] Maliki is currently working on getting some big changes in Parliament... his ultimate goal is of course to retain his position, which would mean changing the law that was passed earlier this year

[Adam Montana] He does not currently have a great support with the current Parliament, so in order to get something that big done... can you imagine what he's going to have to do to pull off a move this big?

[Adam Montana] Now let's tie that in with some recent articles posted in the forums - for example, a member of Economic Commission states that Iraq has such a large reserve of oil and natural resources that they could basically control the world market, undercutting every other major producer.

[Adam Montana]  If you all knew what is going on in the background here you'd understand why I just completely lost my train of thought

[Adam Montana] mods... just this once, please post the entire transcript when we're done... you guys are too funny today!

[Adam Montana] Ok, I'm just going to hope I did a decent job stumbling my way through the opening chat... and get to the questions    

[Adam Montana] just so everyone reading this understands, the mods are allowed to post hidden comments in the background. I'm almost falling off my chair laughing here today

[Adam Montana] let's do the questions. Fire away
[Saint] Dinar Buddy How is currency valued? Gold reserves? Is this the reason why we have not seen the IQD change?

[Adam Montana] Hi DB, thanks for the question    The Iraqi currency is set by the CBI - basically, whatever the CBI says the value is - that's what it is.


[Adam Montana] I know that might sound overly simple, but it literally IS that simple. If the CBI says they will pay .10 for the Dinar, then it's worth .10. If they say they will pay $2 for it - the rate is $2.

[Adam Montana] And if Iraq would just pass the HCL, allowing them to kick their oil business into high gear, they should have NO PROBLEM generating the faith and revenue to kick their currency value up to at least $1.
[Adam Montana] next please!
[Saint] Hellifiknow Morning adam hope all is welk with you!! What promted the "friday" comment? And It took 10-12 years to remove the chpt. 7...HCL? Years? Months? Days?

[Saint] Will we be given a specific time frame to "cash in" or RV is 1:1 but I'll wait till it's 2:1-3:1 to cash in!! Please clear up for me the rumors I have heard about

[Adam Montana] Morning to you as well! The "Friday" comment wasn't meant to be a prediction... I was just saying I'd be happy to see it that soon. Regarding the cash in timeframe, I wrote a short guide on that - see it here: http://iqd.me/l/cashinguide

[Adam Montana] next please!
[Saint] labdog Dear Adam, I have been a follower of your post's and VIP for quite a while and thank you for your comments on the Dinar. My question is regarding the possible RV. If the currency floated like all other internationally traded currencies to a higher value relative to other countries, which I believe will be the course, why would you think or propose a possible and immediate exchange rate or RV to $.10? This would be close to 1000% return on our investments. Do you really believe that the market manipulators will allow this to happen that quick?

[Adam Montana] hi labdog, I appreciate your question. What a lot of people don't understand is that Iraq's currency is based on two things - faith in the country and their resources (OIL). Iraq is really just a big business - if you have faith in Apple's products, and Apple is able to supply enough iProducts, then Apple's stock goes up. Same for Iraq - if the world believes Iraq is stable enough to invest in, and Iraq produces enough product (OIL), then Iraq's "stock" will go up.

[Adam Montana] Now the other part of your question is regarding the market makers... will they "allow" it to go up? The thing to understand about that is there is only ONE market maker for the IQD - and that's the CBI.

[Adam Montana] Hope that clears it up    

[Adam Montana] next please!
[Saint] stealthwarrior Good Morning Adam.I was wondering what your thoughts might be on how long the people of Iraq will wait for real change in thier life before they revolt against the government?They do know that thier country is rich in oil,gold,etc.

[Adam Montana] that's a good question, but I don't think it will take that long. We have some strong power struggles going right now - if Maliki isn't able to pull Parliament to his side, he's done with the Head of Government position, and the next PM will probably be the guy that says "Vote for me and we will RV" (HA! That rhymed! I better get royalties if that becomes the official campaign...)

[Adam Montana] I hope we aren't waiting that long, but that's how I see it happening if we DO have to wait that long.

[Adam Montana] The alternative, of course, is for Maliki to get the HCL approved, pull Parliament and the Iraqi people back to his side, and revoke the "2 term limit" law... which would be pretty easy to do if he were to become a real champion of the people.

[Adam Montana] next please!
[Saint] Yukon Silvermoon I appreciate all the information you dish out for us DVers, Adam, but I'm just wondering something. Why do you think the HCL will be the final catalyst to get this thing off the ground?

[Adam Montana] The HCL is the last thing really keeping Iraq from boosting their ability to funciton as a well oiled business. Get HCL done, and the rest just falls into place.                                                    [Adam Montana] next please!
[Saint] AJC Good day Adam, Been on a cruise all week in the Sunny Bahama's. Was hoping to come home to a RV. CBI let me down again. Is it the HCL holding things up? Thanks for all you do for us on DV.

[Adam Montana] AJC I hope your cruise was good!


[Adam Montana] The HCL isn't the "only" thing holding us up, but it's definitely a key part

[Adam Montana] next please!
[Saint] Reelemfast Hey Old Man, (I mean Adam), sorry... How come out of All the Guru's , Your the only one, that has been right about everything ???? I hope I get to smoke a Cigar with you some day. "Hey Dude", I think your Kick Azz. God Bless you & your family Old Man,    
[saint] Ohhhh, I forgot sumpin. Hey Adam, if you ever would like to go shoot some Wild Pig's ? I promise you a REALLY good time, with your Rifle or Gernade launcher, doe'nt matter it's Legal. On private property anyway? Short drive, 5 to 6 min's, to one of many feeders, that have timers, get out of the truck, load up baby, and let the party begin, it's a lot of fun Adam, No cost to you Bro.. just have fun and you will do that, I promise you. Bring lot's of ammo ???? Bring a friend or 2, we like to kill all of them? 50 cal. & a HOWA 1500 22-250 for the mile shots. It's a lot of fun Adam. Old man,lol

[Adam Montana] next please!
[Saint] Reelemfast Hey Old Man, (I mean Adam), sorry... How come out of All the Guru's , Your the only one, that has been right about everything ???? I hope I get to smoke a Cigar with you some day. "Hey Dude", I think your Kick Azz. God Bless you & your family Old Man,    
[saint] Ohhhh, I forgot sumpin. Hey Adam, if you ever would like to go shoot some Wild Pig's ? I promise you a REALLY good time, with your Rifle or Gernade launcher, doe'nt matter it's Legal. On private property anyway? Short drive, 5 to 6 min's, to one of many feeders, that have timers, get out of the truck, load up baby, and let the party begin, it's a lot of fun Adam, No cost to you Bro.. just have fun and you will do that, I promise you. Bring lot's of ammo ???? Bring a friend or 2, we like to kill all of them? 50 cal. & a HOWA 1500 22-250 for the mile shots. It's a lot of fun Adam. Old man,lol
[Saint] I'm not joking around either.

[Adam Montana] lol! I'll pass on the cigar but definitely look forward to pulling the trigger on one of those things!

[Adam Montana] next please!
[Saint] pastorjoseph dear Adam, I recently made a purchase from (a dealer). I paid $235 to have 4 million Iraq dinar held for 45 days for me at current value. this money would be a 5% down payment and good for this time period. the end of this time period, I would need to send the other 95% or lose the initial investment… (*** edited *** post clipped and company name removed - please keep chat questions short thanks! *** edited***)

[Adam Montana] Hi pastorjoseph, thanks for the post. It sounds like you bought into a "reserve" type of program... I am strongly against any of those programs. I think people should only buy what they can afford to lose, and the Reserve programs are pretty much the opposite of that.

[Adam Montana] Regarding the specific dealer you mentioned, I have never done business with them so I don't have any comment.

[Adam Montana] next please!
[Saint] waitingondinar Hi Adam, I am sure everyone thought Zebari was in Washington last week to discuss the RV. No, he was there to seek help from Washington In the form of Boeing Apache helicopters. Washington politicians are hesitant because Iraq has not prevented Iran from using their air space in transporting weapons to Syria. This is a tricky request. Malaki is planning to meet with the US in September. Do you think this is what is holding up the RV. Malaki is holding the RV up to see what the US does????? Things were moving at a good clip to get Iraq out of Chapter 7. Bills were signed with lightning speed. We are stuck again. Do you have any new info to provide us? Thanks


[Adam Montana] You know... this post makes me think of something kind of on a tangent. IF the US does have anything to do with Iraq taking it's sweet time to RV, it may be due to the fact that most countries are implementing FATCA (reporting requirements for foreign banks) by 2014. There's something to [Adam Montana] Francie keep that positive attitude! You have to smile and enjoy life!

think about.... thanks for the question/comment.

[Adam Montana] next please!
[Saint] Francie26 I really can't help it. But I think it will happen any day now. But my family calls me the "eternal optimist."    

[Adam Montana] next please!
[saint] Candy01 Adam, Do you have any info on whether the Federation Council passed in Parliament today?? Thanks for all you do!

[Adam Montana] I do not believe it was.

[Adam Montana] next please!
[Saint] millionaire in training Thank you to Adam and all the Mods for all the GREAT work you all do for us. It is very much appreciated. And a special congrats to Caye98 for making it into the Mod Squad . Very well deserved and a great asset to DV family. Together till the end..........MIT

[Adam Montana] MIT, thanks for the nice post! I agree with you - Caye has proven to be a great addition to the team. Pretty good with a mop bucket too!

[Adam Montana] ok, that's it for today! Not a lot about HCL this past week, mostly just political struggles... but if we learned anything from Chapter 7 recently, it's this:

[Adam Montana] Iraq tends to plod along at a snails pace, and then when they are ready to make it happen they surprise us! I'm looking forward to seeing them ramp up HCL, and I think Maliki has a pretty strong incentive right now to do that


[Adam Montana] Have a great day, and GOOO HCL!!!!!
[Adam Montana] open floor

[Adam Montana] Seriously... I almost fell off my chair. You guys are nuts

[Adam Montana] haaha
[kcw] Adam Montana maybe next week you'll give us a heads up       

[Adam Montana] ok everyone, I'm outta here! Have a great day, I'll see you in the VIP section if you're in there
 

[Alex38]

If one of the things the IQD is based on is "faith in the country".... well... hahahahaha.... 2085

[Adam Montana]

I disagree... all it will take is a marginal amount of faith, which will easily be earned when they are pumping out enough oil to undercut the competition and they will rocket to the top.

 

[mshuk]

nice chats.thanks mr adam..

[labdog]

Thank you Adam!

[mazie]

Good Post as ALWAYS ,Thanks

[eburt]

Ok thanks for the Chat - Will have to put my patient HAT on for a while now - maybe one day before I get to old to enjoy with my family this thing will RV.

[Lacey]

Thank You Adam,Saint and VIZIO

[yaker]

Thanks Adam...................go HCL and RVRVRVRVRVRVR

[stealthwarrior]

Thank you Adam,you always answer my questions.your opinion and knowledge is what i go by.thank you again sir

[Chartman17]

Thank you, Adam, for the chat.  This is the second week in a row you have "passed" on my question.  Am I asking questions that are only for VIP or too sensitive to address in a  public chat?  OR, are they just to "dumb" to deal with?  Thanks for all you do.

[Candy01]

Ok thanks for the Chat - Will have to put my patient HAT on for a while now - maybe one day before I get to old to enjoy with my family this thing will RV.

I am SOOOOOO sick of wearing my PATIENT hat!!!

 

 

[Magdalen]

Thanks, Adam.

[mes]

Thanks Adam. You are appreciated!!!!!!!!!

[sandstorm]

I think Iraqis total dependence on oil revenue is one of there biggest issue. They need more diversity to boom the economy. With the oil shale and natural gas boom taking place, Middle East oil will be a thing of the past.

In Russia, they discovered a meteorite which contained like a quad trillion dollars worth of diamonds. Yet there currency never reflected such a magnificent mineral source.

And billions can flow into Iraq, but scaring investors with government collapses and civil war style bombings, I don't see the big money feeling secure. And if they pull out their money and investment, huge market swings and volatility could be a problem.

It's going to take years for investors to gain faith in the currency. Oil production, sure they won't have a problem with investment, neither will telecommunications or the hospitality sectors.

But for investors to actually have demand for the dinar, much more stable environment needs to be produced. One second it looks like there moving forward, six seconds later bombs are detonating and another firestorm erupts.

But it's Iraq, and it will at its own due time. Just because the cbi wants a high rate, doesn't mean investors do, or the economy can handle it. There has to be an action that sets its perimeters around Iraqis obvious and current situation. They can't set a 3 dollar rate with a 1000:1 economy. It's a balancing act like. You can put whatever you want on one side of the equation, but if its not balanced it won't work. Another 2 cents.

Thanks Adam. Appreciate your thoughts

[PrettyKitty]

Thanks Adam; for this weeks post & the other as well (you know)...

[new york kevin]

A great thanks to Adam and crew. I pray that this thing RV's nicely before another one of us dies while waiting. I know of one that has passed away, and one that is possibly going very slowly. I am sure there are others out there that have moved from this earth.

[PrettyKitty]

Thank You Adam,Saint and VIZIO

Lacey---just a hello to you, you have my name.

[Caye98]

Nice chat, sorry I missed it live... But on a brighter note, Adam's car is washed, vacuumed and detailed, boat waxed, jet fueled up, office windows cleaned, floors mopped (mop head is getting pretty worn) and IQD's sorted numerically based upon serial numbers, and the six platinum vaults you keep them in have all been polished.

Thank you for noticing, it is a pleasure to be of service. 

[Bumper64]

Great chat Adam, sorry I wasn't able to help with the craziness behind the scenes today! I hung around as long as I could but had to run out and take my oldest sister to her doctors appointment and I missed all the fun.

If everyone only knew what you have to go through with us making jokes behind the scenes they would REALLY appreciate the chats even more than they already do

[Alex38]

I disagree... all it will take is a marginal amount of faith, which will easily be earned when they are pumping out enough oil to undercut the competition and they will rocket to the top.

 

I haven't seen any faith between any of the players in this game. None. BUT if, like you say, all it takes is oil production, then I would think we could have or should have seen this "RV" already... IMO... anyone who has been on this roller coaster knows what kind of wealth Iraq has when it comes to oil... what they have been producing and what the future holds if they can get out of their own way.

I understand what you're saying.

Interesting theory...

[Cat27]

Thanks ADAM!

[boosterbglee]

Thanks Adam for keeping us all grounded in reality!

[umbertino]

Quote

why would you think or propose a possible and immediate exchange rate or RV to $.10? This would be close to 1000% return on our investments.

End Quote

No.... $.10  would be close to 10,000% ( 100 fold) our Investments..... 1,000% ( or 10 fold) would equal 1 penny.

[wpsmit]

What's so funny Adam and Mods? C'mon y'all can share with your peeps!