Questions For Adam's Chat 2-19-2014

[TexasGranny]

Please post your questions below for Adam's Wednesday chat.

 

Please do NOT respond to the questions posted!

 

Responses that are not on topic will be removed!

 

 

 

[Hellifiknow]

You seemed real excited about BIS news a little while back.....?????

[yendor]

I understand that you don't have a date for this "happening", but as for the rate, are you still sticking with the $0.10 or do you think it could hit higher .... and what WILL determine the rate, in your opinion ?

[texasnugget]

I have been a platinum VIP for several years and was able to view Adams chats, however since the new format I can't seem to find his chats. I have looked all over the site. If you could tell me where to go for the chat each week I would appreciate it.

 

Thanks

 

motorrev

[djgabrielie]

After crunching the Currency Auction Data, I come to the realization that Iraq is running on USD rather than IQD. We don't seem to be waiting on events such as Erbil, CH7/8 or the 2014 budget but rather Iraq becoming a International tradable currency. How do you feel about that?

[yaker]

Thanks to you and all your staff for this great honest web site!!! With all the encouraging news over the last two weeks, in your estimation and we won't hold you to it..........  Do you expect the RV to happen in the next two months or earlier or do you think we are talking about 4-6 months or  a year or longer????

[kgreen]

I have two questions; 1. If the IRS is now requiring foreign bank accounts to report annually for domestic tax purposes, what advantage(s) are there for having an offshore account? 2. If someone I trusted had an offshore account and I did not, why wouldn't I give them my 1M dinar to save any taxes and not have to pay to be an OSI member? Thank you.

[rightsonword]

What's up with Warka?

[new york kevin]

I was watching some financial news from Australia on CNBC, they had a segment it said that the USD is under pressure from its major competators on the Forex such as Japan, Yuan, Rupee. and Australian dollar while QE programs in all of these countries are dialing back (US included). They also said that even with the recent safety challenges facing a large part of the ME, (and Iraq) that the ME remains a positive place of investment given tourmoil in the smaller emerging market countries. To me, this seems encouraging for those of us who are in the IQD as a investment as it shows where the money is trending. Do your sources agree with this thinking? Also, can the larger competiting countries be involved in this as a formula by which Iraq can lower its RV costs or is this thought more of a common conspiracy theory on my part?

[skeetdog]

What's Up Adam....I keep lookin' for some intel on the smaller denomination dinars and or coins that in my opinion must be implemented before a RV/RI...All I've heard was the gold coinage minting for dinar exchange only, my question, have you heard any documentation confirming that smaller dinars have been printed?  

[stealthwarrior]

Good Morning Adam,these items that Iraqs parliament are dealing with seem like ticky tacky items that could be dealt with at any time.what do you think is the REAL reason they don't push the RV button?Thanks Brother

[mrref]

Adam you can respond to this if you like, but its just a statement, thanks: It makes one wonder just "how qualified" these financial people are over there in Iraq. Ask any 4 year old the best way to get someone to stop using one thing is to make the other thing more valuable. Iraqi's will never stop using the dollar as long as it's more valuable than the dinar..........or the dollar is simply lifted from the hands of the Iraqis. IT'S REALLY THAT SIMPLE

[boosterbglee]

Adam, who's going to know about the RV first, you or Yota? 

[poorman]

Adam:   I know it's gull dong Wednesday . WHAT DO YOU THINK OF THE DONG PAID 21,800 NOW IT;S 21,114? msn money/fx convert.Happy days are here again. THKS 4 GANK.   

[NEVILL071452]

I have completed my gifting letter in 2013.

Do I claim that any were on my 2013 TAX RETURN?

T'x 4 all the good, hard work in our behalf.

[Magdalen]

Adam, many believe that Maliki supports a "weak dinar" policy. it is entirely possible that he will be reelected as P.M. come April 30th. If this comes to pass, do you think it will delay the timing of the RV? Thanks for your opinion.

[phlip]

This is kind of a follow up to digabrielie’s question about IQD international tradability.

At a Major RV of 10 cents to the IQD an existing Bremmer IQD10,000 note would immediately be worth US$100, while (later when they are finally issued) a new IQD100 note would be worth only One USD ~ and the IQD100 note is one of the highest new denominations announced by the CBI so far.

At a Major RV of 10 cents to the IQD, if an Iraqi citizen goes to his local bank and trades his IQD1,000,000 in cash for US$10,000 in cash, what in the world would give that same Iraqi citizen an incentive to trade that same US$10,000 back to that same local bank for only US$100 worth of new lower denomination IQD notes?

If at a Major RV of 10 cents the largest new IQD note of IQD100 is worth only One USD would that make the new IQD currency more or less internationally tradable?

[Candy01]

Hi Adam,

 

MUST the budget be passed 45 days before the elections on April 30th?  This would mean the budget would be passed by March 15th.

 

Your thoughts please.

 

Thanks!

 

[RobLe]

Saudi Arabia's currency is kept low and all oil is traded in petro dollars so the Saudi's with oil money get paid in US dollars. All the citizens of Saudi Arabia are kept using their own currency which is very low. What is your opinion on Iraq doing the same thing. The wealthy get richer and all other citizens are stuck with a currency that has little value. Cannot Iraq keep this going for years to come? I get the theory that they want outside investments from around the world…. but maybe the leaders of Iraq don't really care as long as they maintain their power and money. 

[neandinar]

Any substance to the Open Market Operations talk?

[soonerdoc]

Being in this for close to 10 years and wonder more now than ever how they an support any significant RV.  Human minds can't comprehend trillions as here is an example.  1 trillion dollars is equivalent of someone spending 1 million a day for 2,000 years.  It's estimated that their are 30 trillion IQD in circulation, so it would take a person to spend a million a day for 60,000 years to reach that!  How can Iraq seriously RV with this amount?  I've been so optimistic for a long time but lately, I just don't think it is possible for anything other than maybe a small return which is not what most of us got in to this for.  I sure hope I am wrong.  Thanks!

[waitingondinar]

Adam,  i know progress is being made, but did't you think the RV was going to have happened by now? Recent articles stating the IQD was being 

removed from circulation in Iraq  to make the country ready for the revaluation.  Do you think there is much more that will have to be completed 

before an RV is accomplished?   Also, I believe the Kurds did not agree with the budget consequently that was not passed again. Can you size up 

the situation in Iraq as to what else we are waiting on to be accomplished?

Thanks