By Adam Montana
Happy Wednesday everyone!
I hate pushing these weekly updates back even an hour longer than necessary, but I'm slammed with obligations today.... which is unfortunate because I have a half written update that I'm enjoying writing!
Feel free to take advantage of the "Reply" button below and post any questions you have, and I will continue later tonight or tomorrow morning.
***Update: Weekly chat ended up on the second page HERE.
By Adam Montana
Good morning good morning!
Wednesday, 13th of May - Year of the 'Rona. The year we saw historic losses in the financial markets, the first time OIL ever (ever) hit negative numbers, and the world changed in ways some of us never believed would happen.
Everywhere we go now, things are slightly-to-a-lot different.
Plexiglass sneeze guards at every store register, shower curtains between tables at restaurants in our future, sporting events without fans, and this is only the start.
With unemployment at the worst since the Depression, possibly worse to come, and the government printing money like... well, like they usually do, just a little faster. The truth is that all of the events we are witnessing were bound to happen eventually - the "pandemic" simply expedited some of it.
The US debt column has been on a steady incline, and that was not going to reverse. A world where we have a "responsible government" and a "balanced budget" is nothing more than wishful thinking.
The good news?
It doesn't matter.
I mean that. It simply does not matter. We can complain all we want, but since the US Dollar went off the gold standard and became full fiat, we have been playing with pretend money, valued by nothing more than our imaginations.
Yes, we can buy actual food with our dollars. We can trade these same dollars for a roof over our head and a vehicle to get us places.
If we had looked at our crystal ball last year and invested in Netflix, or shorted travel related stocks, we'd be sitting fairly pretty! The interesting thing about wealth, and power, and luxury and money and toys and tools is that they are never really "lost" - they just get transfered, in a never ending shell game. There will always be winners, and losers, and much of that is decided on where you are when the dice are rolled.
Iraq is no different. The currency of Iraq is no different than the currency of any other fiat based country - it's made up, yet the uses are real.
And unlike COVID19... we are fully prepared for this one! (At least most of us are prepared - are you?)
In the news:
Iraqi Prime Minister Kazemi (RV-KAZAMMY!!!!!) is on a roll, moving things forward and acting in every way we want!
In years past, not much was accomplished during Ramadan.
This year, the Year of the 'Rona and much more - that does not appear to be the case!
We are currently in the midst of Ramadan, yet Kazemi seems dead set on seating his cabinet before the end of the holiday. And, it actually looks like it's going to happen. That link was from four days ago, and then yesterday we see PM al-Kazemi reconfirming his commitment to wrapping this portion up in "the next few days".
There is more, of course! There always is - I could spend hours tagging and writing and expanding on all of the positive momentum the Iraqi Dinar has right now, and it would just be a start.
Fast work by Kazemi is awesome. Iraq having a Prime Minister stay seated and continue to impress us is an outstanding report. This could never have happened overnight, but the way things are going - I dare say "suddenly" is looming closer and closer.
Bitcoin is in an interesting spot - the halvening happened, and BTC is currently hovering near $10,000. In my opinion, there is still time to get in while it's still cheap. You CAN buy a fraction of a bitcoin, which means you can put $100 or $1000 into it. Coinbase is an easy option.
VIP is still open. You can NOT buy a fraction of a VIP package but at $49 for 3 months, you can get in and be prepared for about 54 pennies a day. It's the smart move, get in now!
The Weekly Powerball Pool is here - join us!
As always - be safe, be happy, be free, and GOOOO RRRRVVVV!!!!!
By Adam Montana
Happy Wednesday, gang!
This week seems to be off to a great start!
The COVID ('Rona) scare is on the decline, but now we have Murder Hornets, and... will it ever end?!
No. So let's move on, live life, love our families, and be happy.
On to the topics!
DJIA, S&P, GOLD, pretty much everything is up, including OIL... and that is music to our ears!
Over in Iraq, we have a "still waters run deep" situation... do you remember all the ruckus that was in the news during the short durations of the previous Prime Ministers?
I'm not hearing the same level of noise right now.
Al-Kazemi, the current figurehead for the position, seems to just be on cruise control. He's zooming down the political highway and there doesn't seem to be much getting in his way. Check out this thread for the latest developments:
Of course there is talk of disruption, but what's not being publicized is the actual progress - and there is plenty!
It gets better:
It is nice read something like that, but what they are NOT saying is much more important than what they ARE saying.
Things are actually really good!
In spite of my current optimism, we are at a critical point - things may turn in our favor quickly, and if they are going to turn right now... it is going to happen quickly, probably in the middle of our night, and without warning.
They aren't going to give us too much of a head start, so we wait patiently and vigilantly.
I'm ready to send emails and text messages!
Last week we had a thread in the VIP section for member feedback, and it's given me a bit to work on. I'll be sending out some VIP emails as that progresses.
A few more notes before I wrap this up for now:
1. Ever hear of Kim Clement? Check this out!
2. Hi, thanks for being a member here at DinarVets. Be sure to enter the Weekly Powerball Pool!
3. One of the responses in that VIP thread made me think about a tip on using the forums here - the "tags" are pretty handy! For example, you can find a listing of all of my Weekly updates by going into the "Chat Logs" forum and clicking any of the "tags" that say "Adam Montana Weekly".
4. Bitcoin is scheduled for a big event... "the halvening", coming in approximately 8 days. This is historically a big deal:
That's it... for now.
Be well, stay safe, and GOOO RRRRVVVV!!!!
By Adam Montana
Good afternoon and Happy Wednesday!
Day 6jillion7bazillion876,9876,350,876 of the 'Rona lockdown. You would think, based on the initial presentation of the pandemic, that 50% of the world would be dead or at least partially zombified by now.
We would think that poor countries with little access to health care and large scale poverty would be almost completely devastated by now, due to lack of masks and life saving governor's orders to stay home.
Countries like Iraq should certainly be wiped out and pleading for mercy, perhaps unloading oil tankers into parking lots and using the VLCCs for storing dead bodies. And certainly during Ramadan, nothing would be happening that could be counted as progress.
Especially with OIL taking the huge hit that it took recently!
That is not the case.
See, for example, here. And here. And here. And here. And here. And here. And... need I go on?
Iraq is not only "fine", they are more than fine! They have weathered a monster hit to the price of oil without lowering their rate. They are surviving an unbelievable shakeup of their government, and tomorrow (Thursday) to May 8 look to be key dates for finalizing some more of that critical work.
Don't get me wrong - I'm not saying Coronavirus was a "hoax". On the contrary, it has been devastating for some... and the economic damage may never be fully calculated.
But the world did not end. We will move past all of this. And the Iraqi Dinar is still a very real item that holds a massive amount of potential.
That's my message for today! I hope you are all well, safe, happy, and as healthy as possible.
We have a great thread going right now in the VIP section (here) and one post in particular seemed like it needed to be included in the Weekly Update. If you're in VIP and you didn't comment in that thread, go check it out!
Iran is a major factor in the current price of the Iraqi Dinar, I don't think anyone will disagree with that. I'm certain they do have a large amount of Iraqi Dinar, just like many other nations (including the US). And when this is actually "done", it may be that Iran and Iraq are at major odds, even flat out war, as a result of it all when we reach the next stage.
The Middle East will always be at war. That's not something that keeps me up at night.
To answer your final question - and probably the most important one in the post - I don't believe that Iran's possession of Iraqi Dinar will prevent Iraq from raising the value. It may impact the "how", but not the "if".
Fine questions, sir.
(As a result of that thread, I also posted a special VIP Q&A thread here. I'll be attending to that one on an ongoing basis for an unknown period of time. Join in!)
That's it for this afternoon's Weekly Update!
By Adam Montana
I know, I know... TWO "weekly" posts this week!
Yesterday I touched on some issues, and opened it up for discussion.
The feedback was extraordinary, as always!
This topic is also open for feedback, so post away... but let's go over some things first.
===== /// brief interlude /// =====
Before we get going on this Update, I'm inserting a special LIMITED VIP discount.
You'll see why this is a great time to use it later in the update!
Use discount code "shakeup" for a sweet 29% off any of the VIP memberships here.
VIP members - keep an eye out for a VIP email soon.
===== /// we now return you to the Update: /// =====
OIL rocked our world over the last 7 days... as mentioned (and continuing here), there was an unprecedented (never happened before) situation where WTI (OIL) went to $0, then negative.
This has NEVER HAPPENED BEFORE.
I even posted in a recent update that "oil will never be free", and the markets proved me wrong... because for a short window, negative prices means OIL was even better than free! Not that we could ever get paid to fill up our tanks, but I can admit when I am wrong.
The markets have since began "correcting", with reverse splits and giants like USO completely changing their M.O. - on that note, I'd caution against buying OIL "stocks", on the assumption that the price "must" go up. Derivatives and futures are tricky and don't necessarily follow the normal rules, kind of like fiat currency that has a "value". I'll stop there before I get too deep in that rabbit hole, because there is more to discuss in this topic.
On to Iraq.
Today is the general start of Ramadan. In years past, I have always maintained the opinion that "nothing happens during Ramadan".
I also stated that "oil will never be free", and I was wrong about that! I'm not going to say "two wrongs make a right", but this is a unique situation.
The most unique, ever, in the history of the world, in fact.
We are witnessing a financial shakeup never before seen, and barely even imagined.
What is happening right now is so off-the-charts unexpected that I'm going to retract my former opinion... maybe something will get done during Ramadan!
This from just yesterday (thanks @yota691!):
To me, that actually seems realistic. Achievable. And it's a number they can work with!
An interesting point regarding the oil and the value of IQD is this: the price per barrel is not nearly as important, for the value of their currency, as the amount they have in the ground. Also, it's not just "oil" that counts here - natural gas is important as well.
Iraq has plenty, and until the world stops using OIL, Iraq will have a rightful place at the table.
@Mary B and @Pitcher bring us these confirmations that Kazemi-KAZAMMI is working, moving things along:
Add to that a landslide of news from earlier this week:
More thanks to @DinarThug for this one... the Iraqi Stock Exchange had a short pause, but they are obviously back at it. Neither Ramadan nor 'Rona is stopping this train!
Overall? This is nothing short of incredible, that the price of OIL can drop to negative and the world basically shuts down, yet the IQD Train keeps on chugging.
And right now, right here at this very minute, we are smack dab in the middle of a shakeup in the markets, in the economy, in the world... that is going to change our lives forever.
This is like 9/11 in the fact that our world will NEVER be the same after this.
And that's why the discount code on VIP is "shakeup".
I'm going to lock yesterday's thread, and encourage you all to continue the conversation here. Read below for my responses to some of the questions and comments that were posted yesterday.
Go Iraq, and GOOO RRRVVVV!!!!
----- From yesterday's Weekly:
I'm inclined to break tradition here. This Ramadan is different, and I'm leaving the door wide open.
In a word: YES.
The price per barrel of oil is a temporary situation.
Iraq holding one of the largest physical stores of oil is not temporary.
They are already talking about setting their budget on an amount much higher than current market.
This situation with the price of oil will be remembered, but it will not last.
YES! And they were told they would get no more than 2 billion dollars... that is nothing.
We aren't the only ones who know that Iraq has the potential to solve their own problems.
Time to GET IT DONE!
Be careful with that... when you buy "oil stocks", you aren't necessarily buying the actual oil. You can still lose money on oil stocks, even though you are correct that the price will go back up.
THAT is a multi-kajillion dollar question!
@coorslite21 made a good comment on it here.
It is not necessary to have it 100% completed. Looking at the progress by KAZAMMI I posted above, I think we are in the strike zone very shortly!
Great post @Mr. G I agree with a lot of it.
I'll clarify my position here: The price of OIL is a factor, not the factor. If Iraq were to suddenly run out of reserves, we would be having a different conversation.
That's not the case, so bring on the RV!
That's a great question, and one nobody will be able to answer. It will depend entirely on what the CBI dictates, and they can do anything they want.
THIS IS A CRAZY TIME!
In years past, I've always said "no" to that idea. I am NOT saying "no" this time!
Sorry Happy Man! I don't think I saw your comment - can you repost it here in this thread? I'll keep an eye out for it.