Adam Montana Weekly 4 March 2020

[DinarThug]

21 hours ago, DinarThug said:

And For Ur Next Oil Report - Just Add A Quart ...

 

 

 

     

[Smokey Mtn. Dinar]

6 hours ago, DinarThug said:

 

 

 

     

 

 

SHE gives blondes their "DUMB" reputation.    

[Pitcher]

The 10 year is at .71. Ouch. Creating a lot of fear.  

 

People appear to be pricing in a recession.  That’s what they do. Price in for the worst case scenario and if it doesn’t materialize there will be a rip your face off Rally. 

 

The Market is so psycho, it switches from Euphoria to Doom and Gloom in a week?.

 

I’m going to be looking for a rally today about 11-12 et.  May not get it but I’m trying to stay positive.  

 

[ronscarpa]

11 hours ago, Pitcher said:

How Markets And The Media Have Overhyped Coronavirus

 

Thanks Pitcher for this excellent article, and all the other articles you've posted as well as your comments. Your insights are greatly appreciated.  Be Blessed my friend. Have a great weekend ... RON 

[Pitcher]

Playing aapl long 

[Pitcher]

Took my AAPL profit and ran.  

 

Friday Day Trading is usually not a good bet but I sensed a rally off that pre market drop and guessed correct.  When you are DT’ing you learn to grab and go.  

 

I saw some big boys covering their shorts in Airlines, Hotels, and Cruise Ships but I’m 

not to sure the gains will hold on this beaten down Sector.  It looks more like a relief rally for them.  

 

Im done for now.  This is not any fun.  

[Pitcher]

We had a nice little rally going and then it turned.  This is why.  Oil taking another hit

 

 

 

 

https://oilprice.com/Energy/Energy-General/Oil-Nosedives-As-OPEC-Fails-To-Strike-A-Deal.html
 

Oil Nosedives As OPEC Fails To Strike A Deal

By Tsvetana Paraskova - Mar 06, 2020, 9:39 AM CST

Oil prices tumbled on Friday as OPEC and its Russia-led non-OPEC allies failed to agree on deeper cuts, Bloomberg and Reuters report.

OPEC failed to agree on a deal, two OPEC sources told Reuters, while Bloomberg’s Jessica Summers tweetedthat “OPEC talks with allies end without a deal.” 

The OPEC Secretariat moments later Tweeted that the formal OPEC meeting had just begun, confusing markets as to what had actually transpired.

At 9:20 a.m. EST on Friday, both WTI Crude and Brent Crude prices were tumbling by more than 7 percent, after the coronavirus outbreak unraveled the OPEC+ coalition that had tried to support and stabilize oil prices since the beginning of 2017.

On Friday, Russia continued to refuse to back any deeper cuts from the OPEC+ coalition, as proposed by OPEC on Thursday.

Yesterday, OPEC ministers met and recommended that the OPEC+ partners extend the current cuts through the end of 2020 and deepen those cuts by 1.5 million bpd in Q2 in response to the slump in demand due to the coronavirus outbreak.  

Later on Thursday, OPEC ministers met again and decided that the 1.5 million bpd additional cut should not be only for Q2 but for the rest of 2020 as well.

Russia has taken this arm twisting not too well, and as its Energy Minister Alexander Novak returned to Vienna on Friday, he began bilateral consultations with several non-OPEC partners and with Saudi Energy Minister Prince Abdulaziz bin Salman.  

The bilateral talks extended in the afternoon, and the OPEC+ meeting which was scheduled to begin at 11 a.m. Vienna time was delayed with hours.

Now it looks like the two most powerful producers at the table, Saudi Arabia for OPEC and Russia for non-OPEC, didn’t want to budge from their respective positions. Russia refused to cut deeper, while OPEC was signaling that it won’t cut without Russia on board.

The ‘no-deal’ outcome of the meeting was the least likely scenario the market and analysts had expected, and oil prices tumbled to their lowest levels since mid-2017 as reports emerged that there will not be a deal this time around.   

 

[DinarThug]

6 hours ago, Smokey Mtn. Dinar said:

SHE gives blondes their "DUMB" reputation.    

Ya - Ur Supposed To Use A 50 Weight Oil On A Smaller Hi Revving Engine And Not A Regular 30 Weight !  

 

 

Sheesh ...

 

     

[renomac]

US Flooding Oil Market with low Priced OIL  ! !

OPEC & Russia will have to Keep up or NOT make

any money ! ! 

 

Lower Oil Prices will Hopefully Make Iraq RV.

Iraq Needs about $56 to break even on their Budget.

Anything LOWER the Loose Money ! ! 

 

GO RV

God Bless 

[Pitcher]

She may not know how to put oil in a car but she KNOWS how to eat ice cream

 

 

 

 

 

 

[DinarThug]

2 minutes ago, Pitcher said:

She may not know how to put oil in a car but she KNOWS how to eat ice cream

Not Tonight Dear - I’ve Got An Ice Cream Headache !  

 

 

     

[Pitcher]

If you take two aspirin you’ll feel better.  😂 😝 😆 

 

[Pitcher]

5 hours ago, ronscarpa said:

Thanks Pitcher for this excellent article, and all the other articles you've posted as well as your comments. Your insights are greatly appreciated.  Be Blessed my

Thank you Ron

 

 

[Adam Montana]

On 3/5/2020 at 10:47 AM, Laid Back said:

@Adam Montana
 

1 - I'll need more info on "1,000,000 IQD is forbidden". The rule is $10,000 (USD) and up must be declared in most countries. 


Details .. Customs issues an amendment to the rules for permission to enter and remove funds

 

The authority said in a statement that Alsumaria News received a copy of it, that it "issued the first amendment to the controls for declaring the money when it was entered and removed across the Iraqi borders No. (1) for the year 2017 issued by the Money Laundering and Terrorist Financing Office, which includes the following:

 

1- The following is added to paragraph (5) of the controls, and item (c) thereof:

 

C - The customs authorities have the power to search people and inspect their luggage to verify the authenticity of the information declared upon investigation or suspicion of a false statement or a case of withholding the permit or in case of suspicion that the funds being transferred are illegal.

The following shall be added to the controls, and paragraph (8) thereof:

 

(8) The amounts permitted to be entered or removed from and to the territory of the Republic of Iraq include the following:

 

A - Amounts below (10,000) (ten thousand US dollars) or its equivalent in other currencies without declaring it.

 

B - Amounts exceeding (10,000) (ten thousand US dollars) to (20000) (twenty thousand US dollars) provided that they are declared with the necessity of showing them in support system' target='_blank' style=">support system" rel="">support of the purpose of entering or removing these sums and in the event that the supporting documents are not available, the traveler makes a pledge By bringing those documents after (20) days from the date of the permit.

 

A- It is forbidden to enter or remove amounts in excess of (20,000) (twenty thousand US dollars) or its equivalent in other currencies, and the process of entering or removing these amounts through financial institutions is exclusively.

 

D- It is forbidden to enter or remove amounts in excess of (..., ... 1) (one million Iraqi dinars) even if it is declared and the amount is seized and legal measures are taken against it.

 

The Customs Authority noted that "the amendment entered into force on 19/2/2020 at border crossings."

——————————————————————————————————

@Adam Montana

2- I still remember my first trip to Dubai, where there was a security checkpoint that required removing our shoes and they sprayed everyone's feet with disinfectant on the way through... but regarding your question, I'm going to need a link to be sure we are discussing the same thing

 

Posted February 25

The Central Bank of Iraq clarifies the administrative framework for financing imports and the mechanism for selling foreign currencies

 

 The Central Bank of Iraq clarifies the administrative framework for financing imports and the mechanism for selling foreign currencies

•  The Central Bank of Iraq clarifies the administrative framework for financing imports and the mechanism for selling foreign currencies

 

On Tuesday, the Central Bank of Iraq issued a brochure entitled "The Window for Selling Foreign Currency in the Central Bank of Iraq."

The bank said in a statement, "The brochure clarifies the administrative framework for financing imports and the mechanism of selling foreign currency to banks in covering their customers' requests."

He added, "It also clarifies the process of collecting and sterilizing the local currency

considering that this bank represents the monetary authority in Iraq

Sterilization is a form of monetary action in which a central bank seeks to limit the effect of inflows and outflows of capital on the money supply. ... The sterilization process is used to manipulate the value of one domestic currency relative to another, and is initiated in the foreign exchange market.

 

 

I didn't figure you were referring to disinfectants, but you can never be too sure  

 

The "sterilization" that's being talked about isn't anything new. Actually it's an integral part of how the auctions and exchanges work... not sure why they even bother putting out articles like that sometimes, but there's no point in trying to understand government logic sometimes!

 

Regarding the "1,000,000 IQD" - that amount is approximately $10,000USD inside Iraq, but in many countries it may as well be a billion or a five dollar bill. The statement only applies to the country of Iraq, and most of us won't be carrying any amount of Dinar into or out of Iraq, so it simply doesn't apply to us.

 

 

 

EDIT: Math error, mostly irrelevant, see my post below.  

Edited March 8, 2020 by Adam Montana
clarification on maths

[Adam Montana]

On 3/4/2020 at 1:15 PM, nannab said:

It's final and straight from the top Man (Adam M) auctions and whom ever is PM does not matter

regarding the RV.     Unless Maliki sneaks  in.  Thank you Sir for all of the above.  

 

 

 

 

I stand by that.  

[A.M.]

Thanks A.M.

[Cruzin]

Pitcher, thanks for sharing these informative articles and your expertise with us. It's sad that fear rules the world as a means of control...

It doesn't matter whether it's stocks, bonds or Dinar, it's a longterm investment and I'm along for the ride. Although, we admit we are in control of nothing outside ourselves. We accept proudly the option to choose while, we are hopeful of determining our own destiny, leaving nothing to fate. 

[Laid Back]

3 hours ago, Adam Montana said:

 

 

I didn't figure you were referring to disinfectants, but you can never be too sure  

 

The "sterilization" that's being talked about isn't anything new. Actually it's an integral part of how the auctions and exchanges work... not sure why they even bother putting out articles like that sometimes, but there's no point in trying to understand government logic sometimes!

 

Regarding the "1,000,000 IQD" - that amount is approximately $10,000USD inside Iraq, but in many countries it may as well be a billion or a five dollar bill. The statement only applies to the country of Iraq, and most of us won't be carrying any amount of Dinar into or out of Iraq, so it simply doesn't apply to us.

 

 

Thank you for your answer Sir.

Go DV

Go VIP

Go RV

[Hotcurl]

10 hours ago, Adam Montana said:

Regarding the "1,000,000 IQD" - that amount is approximately $10,000USD inside Iraq, but in many countries it may as well be a billion or a five dollar bill. The statement only applies to the country of Iraq, and most of us won't be carrying any amount of Dinar into or out of Iraq, so it simply doesn't apply to us.

 

@Adam Montana I am confused by this. And I will admit that sometimes, it doesn't take much .. 

 

Are you saying that the "in country" value of the IQD is equal to $.01 (one US penny) ??

 

How does this work with the CBI published rate of 1190 IQD =  $1.00 ??

 

Is this part of the equation related to the currency auctions conducted by the CBI ??

 

I do understand the logistics part of physically carrying currency in and out of Iraq, that is at the end.

 

Semper Fi

GO RV

GO Protesters

[Adam Montana]

17 hours ago, Hotcurl said:

 

@Adam Montana I am confused by this. And I will admit that sometimes, it doesn't take much .. 

 

Are you saying that the "in country" value of the IQD is equal to $.01 (one US penny) ??

 

How does this work with the CBI published rate of 1190 IQD =  $1.00 ??

 

Is this part of the equation related to the currency auctions conducted by the CBI ??

 

I do understand the logistics part of physically carrying currency in and out of Iraq, that is at the end.

 

Semper Fi

GO RV

GO Protesters

 

Whoooooops! Sorry for the confusion, I made a simple math error. Either way, the "rule" doesn't really matter to us.

 

Interestingly enough, either the GOI did as well, or they plan on adding some value... why else would they ban someone from carrying one thousand dollars?

 

 

[umbertino]

On 3/7/2020 at 3:18 PM, A.M. said:

Thanks A.M.

 

 

You thanking yourself?

[Adam Montana]

35 minutes ago, umbertino said:

 

 

You thanking yourself?

 

Hi, Welcome to DinarVets! We're glad you found us - if you need help finding your way around, feel free to ask!

[cws]

14 minutes ago, Adam Montana said:

 

Hi, Welcome to DinarVets! We're glad you found us - if you need help finding your way around, feel free to ask!

I think I’m still lost! 🤪😝🤓

[davis411]

2 hours ago, cws said:

I think I’m still lost! 🤪😝🤓

Well don’t follow me then

or we are really lost

[Pitcher]

Futures plunge on the CV and Oil news.  Trading Limits triggered. Wow. Buckle up!!

 

S&P are down -140 

DJ-30  -1078

Nasdaq - 387

 

Oil is in the low 30’s

10 year at .51yield. 

 

Gold up 25 ish