Adam 2/10/10 morning

[Grumpy]

[Adam Montana] _00h_i_am_ The_Stig the email I was refering to is titled "Adam follow up to CBI redenom email" or something like that

[Adam Montana] moving on to another point that was just brought up

[Adam Montana] 7 COME 11 just mentioned that "Iraq needs to cover what it prints"

[Adam Montana] it's a very valid point and a lot of people question it

[Adam Montana] "How can Iraq RV with so much currency in print?"

[Adam Montana] I covered this *cough shameless plug cough* in my book extensively

[Adam Montana] you can get it at http://www.rvintel.com

[grumpy] *

[Adam Montana] but the short explanation is this

[Adam Montana] stats show that at least 80% of Iraq's money is in paper

[Adam Montana] so yes, they have a HUGE amount of PAPER DINAR out there

[Adam Montana] ATMs and VISA cards, or credit cards, are almost non existent

[Adam Montana] so l;et's compare the US to Iraq

[Adam Montana] YES, the US has less paper in print

[Adam Montana] but hwo much of YOUR money is cash in your pocket? I bet less than 10% of it

[Adam Montana] the rest is sitting in the bank

[Adam Montana] in the forum of NUMBERS

[Adam Montana] so you can't compare what Iraq has PRINTED to what the US has PRINTED, because it's apples and oranges

[Adam Montana] so how can Iraq back up any kind of RV?

[Adam Montana] anything, including a dollar or a euro, is worth what a BUYER IS WILLING TO PAY

[Adam Montana] when Iraq shows the world, which they are doing, that they can move forward and be stable

[Adam Montana] the world will grant them CREDIT

[Adam Montana] just like the UNITED STATES has - we don't have assets to cover our debt, we have CREDIT

[Adam Montana] Iraq has oil, stability, and they are on the verge of moving into the same millenium* *as we are

[Adam Montana] so it's easy to understand why they would get CREDIT in the very near future

[Adam Montana] suck out the big bills, replace them with digital NUMBERS like the US has, and we're pretty even

[Adam Montana] I bet

[Adam Montana] that Iraq will be a he-ll of a lot more fiscally responsible than our spend-easy government is

[Adam Montana] so their credit will bypass ours quickly, just like Kuwaits

[Adam Montana] and in a short time the Kuwaiti Dinar will be able to match Kuwait's

[Adam Montana] err

[Adam Montana] sorry

[Adam Montana] Iraqi will match Kuwaiti

[Adam Montana] make sense?

[Adam Montana] unmo

[brenda]

Thanks Adam Bring on the rv and show me the money!!!

[daisey]

Thanks adam..now i understand

[Lady Liberty]

Good post! Thanks!

[Dinardeb]

So you feel it will be awhile or are we still on 72 hour watch?

[rlecomte]

Even the US can not cover the money we have in print. We use a fractional reserve system. IQD has more backing it that the US. I donot see any problems.

[rlecomte]

Even the US can not cover the money we have in print. We use a fractional reserve system. IQD has more backing it that the US. I do not see any problems.

[Charlie Echo]

rlecomte, good point... the US is printing paper FIAT CURRENCY 24/7 and trying to spend the US out of the recession... it can't be done. Good financial debt management is the way to go. If we don't back off from spending, we, the US will pay for it the hard way... No simple answer, but if we can print all the money we print and be the "least ugly" of the Bonds that are being sold with what we have backing the US $ then IDQ should be considerably stronger than the US $ because of their oil reserves. We don't make anything anymore... we are service oriented country. Gold and Silver were the only types of currency that were approved for use by the Original Constitution. Paper is just Paper...

[Wax]

So, what are we saying here? The currency lops, rv's at a low rate, and then we sit on our dinar until the economy of Iraq realizes its potential, which will move the value of their currency higher - then we cash in at some future date and rate we are comfortable with? Am I in the ball park or way off?

[Mesha]

Good question! I have the same ?. Whatever happened to it RV'g around the rate of the Euro?

[GODSENT]

Thanks Adam, great post,really needed to hear something positive.

[Pegleg]

Thank you Adam. I always appreciate your information.

[amal]

thx, any new updates for us?

[topcat1954]

Outstanding info. Bring on the RV