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Adam Montana weekly - April 30, 2014

Adam Montana

By Adam Montana,
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Adam Montana Proficient

Adam Montana

Posted
Posted

Happy Wednesday everyone! 

 

Today is Wednesday April 30, and obviously no RV as of right now - but like 

I said last week, I believe we are waiting on the Elections to be complete 

before anything else moves forward.

 

Counting votes in Iraq takes a little longer than here in the US, so expect to 

hang tight for a couple days yet.

 

If you're in the VIP group, today is the FINAL day to enter in the MILLION DINAR 

GIVEAWAY - all you have to do is post a joke in this thread: http://iqd.me/l/w0ws

 

There's already over 1200 knee slappers in there! It's been a blast reading them 

all, and I'm looking forward to announcing a winner tomorrow. 

 

:twothumbs:

 

Here's the weekly Q&A:

 

 

After all the news about getting gold, oil, and everything else to back the value of the currency. And all the time taken over the past few years to make this happen. Do you think there is a possibility that the purpose of this longgg delay has been all along that they are trying to get to a higher rate and be able to sustain it after raising the value?

 

When I say higher rate I don't mean .10 or even $1.00 I mean the $3+ that many many Many guru's have been saying for years now. Not that I believe (or even bother reading anymore) anything gurus say and I definitely don't want to give them credit for anything, but perhaps Iraq's goal all along was to get back to there desired rate that they once were at. And if that were the case, I just imagine that everything that's been taking place would make perfect sense to make that happen.

 

What do you think? Any Chance?

 

Two part answer: 

 

1. Yes, I definitely believe the delays are simply because they won't launch a major increase in the rate until they can sustain it. With all the positive progress made so far, I don't think we're far off. 

 

2. Unfortunately, I still don't see it coming out at $3 or anywhere near that. They will have a good challenge maintaining a .10 RV, and it makes more sense to come out around there and then make profit as the value eventually rises to the $3 mark.

 

:twocents:

 

 

Is the backing of a nations currency more about backng the currency or iraqs ability to pay external debts that could possibly accumulate from trade deficits ?

And since they are experiencing trade surpluses every year do you think external debt will be a problem?

If you have trade surpluses your country takes in more money than its paying out externally so they will always have more money accumulating each year unless Iraq starts spending more externally than they accumulate externally through oil sales
Link for trade balance for iraq
http://www.tradingeconomics.com/iraq/balance-of-trade

 

Fantastic question! As their oil production rises, and the value of the currency is raised, their entire economy will be changing. The trade balances should swing favorably for Iraq, and once they are able to revalue their currency I don't see any reason they will have to worry about deficits.

 

:twocents:

 

Hi Adam! Do think there is anything of significance behind the extended holiday or just suffering from chronic holiday deficiency? (travel to vote may be a consideration?)

 

I vote for chronic holiday-itis.

 

 

They are still paying off Kuwait and still have a ways to go.....still oweing billions of dollars. Will they wait until it's paid off so they can RV?

 

If you asked me that question 5 years ago, I would have said YES... but at this time, they've whittled the debt down to a manageable level and I don't think they have to be as concerned with that anymore.

 

 

Good morning Adam,I recently read on the forum that Iraq would give it's parliament members 2 billion dinar to show up and vote and get the budget done.if the dinar was to rv let's just say 1 to 1,does it make sense that they are offering members of parliament 2 BILLION dollars to show up and vote?

 

I didn't read that one, sorry!

 

Hello Adam, Any good news on the HCL yet? I haven't seen anything. Thank you

 

Nothing substantial this week... we're all hanging on waiting for the elections to be complete.

 

SandFly's Been AWOL For Over A Week Now !  :blink:

 

Who's Gonna Deal With All Of The 'UnThanked' Threads Piling Up All Over The Place In The News Section ?  :o

 

   :D      :D     :D

 

We need to send a Sandfly Search Party!

 

 

This was posted byRV-2-Day  Posted 22 April 2014 - 11:48 AM

But I must have missed the reply.

 

Adam

In 2010 H.R. 2847 the Hire Incentives to Restore Employment Act & Foreign Account Tax Compliance Act was signed and goes into effect July of this year. 

 

The FATCA requires full disclosure of accounts outside the U.S. by U.S citizens and more importantly by foreign Banks. Offshore financial institutions are required to provide a 1099 form to the IRS for their American Customers. Under FATCA, banks will be forced to submit information on total assets, account balances, transactions, account numbers and other personal identifying information.

 

Thanks

 

 

 

This is an OSI question that has been answered several times in the VIP/OSI section.

 

The short answer is simply this - our offshore strategy was designed to withstand these changes and FATCA is not a big deal for us. Check out the "FATCA and you" thread in OSI :twothumbs:

 

 

===================

 

Well gang, that's it for this week! 

 

I'm monitoring the situation and will let you know of any breaking developments.

 

Have a great day!

 

:tiphat:

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Thwmas Newbie

Thwmas

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Posted

Thanks Adam.

 

We will see if Iraqi can count better than Florida!! Thanks Adam for the chat! Hopfully this will be done soon.

 

It isn't that Florida can't count, it is just that we respect each vote so much we count them several times.

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TVdinar Newbie

TVdinar

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A man was invited for dinner at a friend's house. Every time the host needed something, he preceded his request to his wife by calling her "My Love", "Darling", "Sweetheart", etc., etc. His friend looked at him and said, "That's really nice after all of these years you've been married to keep saying those little pet names." The host said, "Well, honestly, I've forgotten her name."

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dontlop Newbie

dontlop

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Thanks Adam

I think they will control trade deficits with tarriifs to make certain imports more expensive as well as oil production expansion if necessary and unleashing the private sector and build some type of manufacturing base

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RodandStaff Rookie

RodandStaff

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Posted

Thanks Adam and Mod's, another great job.... time to tighten the cinch....I'm thinkin' this rides about to get real interesting!!!  :rodeo:


Thanks Adam and Mod's, another great job.... time to tighten the cinch....I'm thinkin' this rides about to get real interesting!!!  :rodeo:

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