Adam Montana Chat 7-27-2011

[cisole]

Good news....Now I have more time to buy dinars.

Exactly!

[DinarrheaExplosion]

Now it's september, then october, and so on... A never ending pattern of suck.

[oogie]

6:06 PM [Adam Montana] Ramadan is like our Christmas, or Fourth of July - except it's a MONTH long. What do I mean by that? On our Christmas, NOBODY works. Especially not the government! How can they have a currency change without a working government?!?!?!

Read more:

Umm....well this article seems to say they will be working

http://www.microsofttranslator.com/bv.aspx?ref=IE8Activity&from=&to=en&a=http%3a%2f%2fwww.baghdadiabian.com%2fnews.php%3faction%3dview%26id%3d7742

[j904]

5:55 PM [Adam Montana] I still have to arrange my schedule around other people

5:55 PM [Adam Montana] good news is the call was so good I couldn’t get back to sleep

5:56 PM [Adam Montana] I was up at 2AM to attend this call, and there were some important people on it

5:56 PM [Adam Montana] not naming names

5:56 PM [Adam Montana] I already stuck my foot in my mouth enough this week

5:56 PM [Adam Montana] I was hoping for some amazing news

5:56 PM [Adam Montana] and we *kind of* got it

5:57 PM [Adam Montana] there has been a RUSH of news related to the HCL

5:57 PM [Adam Montana] but it has not been resolved – and if it’s not done by tomorrow,

5:57 PM [Adam Montana] In My Opinion

5:57 PM [Adam Montana] IMO

5:57 PM [Adam Montana] it won’t happen until after Ramadan

5:58 PM [Adam Montana] it COULD happen tomorrow! But even if it does

5:58 PM [Adam Montana] that doesn’t leave enough time for an RV before the 1st, so again IMO

5:58 PM [Adam Montana] IMO it won’t happen until after Ramadan. That means Sept 1 at the EARLIEST

5:59 PM [Adam Montana] I know that’s not good news for most, but I’m not here to pump, inflate, give false hope, or anything else

5:59 PM [Adam Montana] This is a long term investment and I hope you are all here with me till the beautiful sweet end

5:59 PM [Adam Montana] (I also hope I’m wrong and it happens this weekend…

5:59 PM [Adam Montana] because there is talk that August 2 is a deadline)

6:00 PM [Adam Montana] (and that would be great!)

6:00 PM [Adam Montana] (but I’m a realist, and these things are not a simple walk in the park.)

6:00 PM [Adam Montana] Sorry to be a downer, I have to keep it real though

6:00 PM [Adam Montana] I hope I’m worng

6:01 PM [Adam Montana] but like I said – if we don’t have an RV by the end of July

6:01 PM [Adam Montana] forget about it till Sept 1.

[Adam Montana]

Thank you to TG for posting and all the rest who kept the chat classy and awesome, as always!!!

I noticed there were a lot of questions asked after Adam opened up the floor. He didn't answer any of them. Does he have a chat during the week where he does answer questions or do you have to be a VIP?

Thanks,

Kimberlye

You need to read a little more, I answer at least 20-30 questions every day, mostly in the VIP section, but also in the chat and here in the free forums

Unless I am mistaken, the gubmint will take 40% MAX.

Whatever it is the "robbers" take is outrageous. Still, we should come out

well in the end (if and when it gets here)!

Git 'r(v) Done!

FED tax is 35%, then you add your State Tax (in WI it is 7%), then you add AMT and a few other things.

In WI, I will pay about 45% total tax on my income if it is in the $500,000 or higher range.

That's why I've done so much to prepare myself and the other VIPs for this event - a few bucks now can save a LOT OF MONEY later.

Choice is yours

This might help. It has been stripped down and rearranged in a way that is a little more readable. I tried to post the questions and the responses together.

ok I know this is early one of the downfalls of my "job" here is I have to be up at all kinds of crazy hours no, not reading rumors

I actually have conference calls with people all over the world, Iraq included and you all know Iraq is on a different schedule than we are here in the Good Ol USA

so even though I *think* I'm kind of important... I still have to arrange my schedule around other people good news is the call was so good I couldn't get back to sleep. I was up at 2AM to attend this call, and there were some important people on it. not naming names

I already stuck my foot in my mouth enough this week

I was hoping for some amazing news and we *kind of* got it

there has been a RUSH of news related to the HCL

but it has not been resolved - and if it's not done by tomorrow, In My Opinion it won't happen until after Ramadan. It COULD happen tomorrow! But even if it does that doesn't leave enough time for an RV before the 1st, so again IMO it won't happen until after Ramadan. That means Sept 1 at the EARLIEST. I know that's not good news for most, but I'm not here to pump, inflate, give false hope, or anything else. This is a long term investment and I hope you are all here with me till the beautiful sweet end.

(I also hope I'm wrong and it happens this weekend...because there is talk that August 2 is a deadline, and that would be great! but I'm a realist, and these things are not a simple walk in the park.)

Sorry to be a downer, I have to keep it real though. I hope I'm wrong

but like I said - if we don't have an RV by the end of July, forget about it till Sept 1. on that note (Now that you all hate me )

I'll open the floor

Topic: open floor

6:01 PM [Adam Montana] fire at Will

6:01 PM [Adam Montana] (WILL! Not Adam )

6:02 PM [brbrlocke] we don't hate you at all....thank you for all you do

6:02 PM [joedee2004] what’s this about Obama signing off on r.v.??

6:02 PM [Adam Montana] joedee2004 that doesn't change the date, regardless of how legitimate it is

6:02 PM [stevieH] What about the ministers meeting on Saturday?

6:02 PM [Priscilla] Sept 1st...we will take that. thank you for all you do..

6:02 PM [Miss Peg] this is not what we wanted to hear but necessary so thank you

6:02 PM [Adam Montana] Miss Peg thanks Miss Peg, I just try to keep it real

6:02 PM [whitelions] what about the Aug to Aug letter the Iraqi project letter?

6:02 PM [bubbie] what was the wonderful news that kept you up!?

6:02 PM [spiff] Adam, Have you heard anything about releasing the lower denoms? And thank you for keeping it real.

6:03 PM [Adam Montana] Spiff I know they are out there, but I don't see them released until the RV is announced

6:03 PM [Adam Montana] people would BURN them

6:03 PM [minichaser] Adam Montana How does Sept 1 fit in?

6:03 PM [Adam Montana] hang on one second please - I think this is important, and I want it to be shared

6:04 PM [Adam Montana] did anyone copy it?

6:05 PM [Adam Montana] I had an AMAZING conference call this morning, and I'm not discouraged at all on this investment

but I have to say in all reality - I don't think it can happen until Ramadan is over. Ramadan is like our Christmas, or Fourth of July - except it's a MONTH long. What do I mean by that? On our Christmas, NOBODY works. Especially not the government! How can they have a currency change without a working government?!?!?!<br style="mso-special-character:line-break"> <br style="mso-special-character:line-break">

6:05 PM [bobbidoll] Adam Montana Do you think it will happen this year? In your opinion?

6:06 PM [oogie] this feels like dejavue

6:06 PM [Adam Montana] oogie unplug your time machine

6:07 PM [Happy Man] Adam, I worked in Morrrowcow for 2 years and they worked during the day during Ramada

6:07 PM [Adam Montana] Happy Man I've been invested for 7 years, NOTHING happens in the gov't of Iraq during Ramadan

6:08 PM [Happy Man] ok

6:08 PM [mazinman61] I read somewhere parliament was going to continue working through Ramadan,,,

6:08 PM [Adam Montana] if you can show me an example of a significant ANYTHING happening in Iraq during Ramadan over the last 7 years I will give you a million Dinar!

6:10 PM [mazinman61] I totally agree with you Adam Montana ,, Just seems so crazy as I too have been here since 04, and nothing gets done during the sleepy month of August and Ramadan

6:10 PM [Adam Montana] they don't do much during Ramadan<br style="mso-special-character:line-break"> <br style="mso-special-character:line-break">

6:07 PM [Adam Montana] joedee2004 this is indeed "any" news - not good, not bad. But we are moving forward

6:07 PM [rico] Moving forward is good....I can wait

6:08 PM [stevieH] Any comments on the ministers working on Saturday?

6:08 PM [Miss Peg] maybe they will work considering their situation

6:08 PM [whitelions] there was an article in the walls street news that said there were going to be a lot of instant millionaires because of the IDQ very soon did you read that?

6:09 PM [Adam Montana] whitelions I read an article on FORBES today not WSJ.

6:09 PM [whitelions] what did you think of it

6:10 PM [Adam Montana] I agree with him that's why I've done so much ASSET PROTECTION work in the VIP room

6:10 PM [sassyk] And that was an opinion -article ----

6:10 PM [Adam Montana] but it was an article from a CPA who had a good view on the Dinar - and his point was that we are not going to pay LT TAXES no matter what, it will be INCOME TAXES at the bare minimum

6:10 PM [saphire] I wonder if they are going to try to screw the small speculators

6:11 PM [Adam Montana] saphire if you are a "small" investor. you have what? $500 invested? and you see a 1:1 return that's $500,000 and 50% tax, you get $250,000 on a small investment.

I don't think you got screwed.

Sorry pal that's an AWESOME return!

6:11 PM [TexasGranny] they do a lot of partying at night after dark and before sunrise

6:11 PM [Happy Man] Adam, I missed the first part is there anything done on HCL or chapter 7

6:12 PM [Munsch] Adam did you see the ID. Congressman written response to Dinar RV?? I personally thought it was interesting they talked about Ch 7 being a key factor

6:12 PM [Adam Montana] Munsch absolutely

6:12 PM [Munsch] i know politician is a politician so hard to trust

Thank you for posting that, you are one of the good ones!!!!!

I'm with you Dinarius Rucker! WOW....LittleMissGrits?!?!? I don't care who takes 50% of my $500,000....if I can turn $1,000 into $250,000 over night I will consider myself very very fortunate!!!! Much more fortunate than most the people in the world. To think you got 36 pluses to boot!?!?!?

I must say Dinar Vets has been international and national cultural learning experience for sure!!!

Happy to be part of it, and thank you for stating your opinion!!!

The tax rate is going to be 50%?

I was hoping for no more than 30 to 35%

I've heard 15% but i figured that was too much to hope for.

I seriously hope it's not 50%

See my first post above.

Oh and THANKS ADAM.

Appreciate the honesty!!!

I can't make it RV any faster, but I can guarantee I will always be straight with you. Forever, no matter what.

I STILL say it feels like dejavu

Get off the merry-go-round then!!!

[genique05]

Patience is a virtue!!! I know good things come to those who wait. Adam, You're only human with a lot on your plate. It's a shame you have to choose your words wisely because of some people. Thanks for the update. Be blessed & encouraged! GO RV

[dinarmite]

It really looks drastic when you are looking at the large sums of money....... but the tax rate at anything over 4-8% is 'highway robbery' IMO. All we are doing is feeding the pockets of the elite and causing them to 'power grab' at our expense.

If the salaries of all congressional, white house staff, and all elected government officials were cut in half---- you would see this thing get done in a heart beat. In fact i propse that all elected officials serve without pay for a service of not more than two elected terms. We would then get people who would go to washington to make their mark and get the job done in those two terms. One shot at making history is enough for one elected official. IMO

The lobbyist give them more than we pay them and I'm sure they pay taxes on all that money....

[Chilliherb]

Hey there LittleMissGrits

You indicate the US gov has no right to put their hand out perhaps you forget its the US Gov and the US people who have footed this bill for the war and the opportunity for this to happen in the first place. It is also the US gov who is paying the bill for the Vets who return with no legs and wounds to their body's and minds. Where do you think the money comes from to support all of this and the standard of living most Americans enjoy. Sorry but I think your reply is a very very selfish one.

And I am not even from your country but I do have a son over there right now doing his duty for his country.

Cheers Chilli B)

Edited July 28, 2011 by Chilliherb

[joeinalabama]

Yep you said it foot on mouth. You stated big news but not saying rv and now your 10 days are almost gone. Now you gotta save face AKA cya what better time to do a chat. and blow some some smoke up the a$es of the people who look to you for knowledge,hope and confidence. Looks like the book sales,vip memberships and members of this site will be diminishing a little more in the coming days cause you really dropped the ball on this one. I'm sure you can muster up some sort of bs pump crap to lure the newbies and keep the not so bright members around. But keep up the good work cause you are good at what you do. Oh Yea GO RV

************** mod edit: member was warned twice. Now he is banned for life **************

[eddiemac]

why do you have too be a horses behind? Get your info somewhere else if your not pleased wIth the outcome...............NOTHING IS SET IN STONE, AT LEAST NOT SAID BY NORMAL MEN.. HE IS ADAM NOT MOSES WITH THE TEN COMMADMENTS

[HopeTas]

Ramadan is a time that Muslilms fast during the day while they work, and then will eat at night gathered with family. They do this to identify with the hunger of the poor to have compassion for others. It is a central notion in Islam, Judaism and Christianity that we should care for the poor and have compassion for them. Jesus went to the desert for 40 days to gather clarity for his ministry. Part of that clarity was fasting to be in touch with what the poor experience.

[GoldenLady]

Thank you so much for your very hard work on behalf of everyone, Adam.

I too am a realist so your approach, information and straightforwardness

in presenting it are refreshing, indeed!

Very happy that you have your Chats posted for all to review.

Have a wonderful weekend.

[4Horsn2]

Thanks for the post!!! Makes it nice for those that are not able to be around for the chat!!

[therentman]

The little guy can't afford to just stop working for 30 days. But Adam is correct about the government's work in the past, it grinds to a halt. Imagine that, the Iraqi government not working and taking a holiday. Let's look forward to September! Thanks for posting TG and thanks for the info Adam.

GO RV!!!

[okane]

Thank you Adam and staff for all that you do to make this site great!

[Mongo]

Thanks Texas(yee haw) Granny.. for that new batch of tonic.........It cured what ALES me ..............alright now quit hog-ing the JUG

[Deborahtheprophet]

Thanks Adam for keeping it real

[Beachwalker]

Adam: Thank you!

LittleMissGrits: It would probably be presumptuous to assume that you are not in the VIP. But if you're not, an exceptionally wise investment would be to spring for it. You can then go to work and study some asset preservation strategy that might help you to offset the impact of the "thivery" that you say you are so averse to. (None of us are dying to overpay our taxes - but our own personal feelings will not make whatever "surprises" the government has for us go away.) The VIP will provide you with some options that you may not be aware that you have at the current time. Options are always good, whether you personally chose to take advantage of them or not. Your participation in the VIP will, possibly, introduce to some legal options to avoid (not evade) overpayment. You can then decide for yourself whether you do or do not chose to exercise a particular option, based on your discussions with your advisers. I'm not schilling for Adam. I am a VIP and will stay a VIP. The VIP helps ones to treat this as an investment, not a lottery ticket.

I personally like the glass half full philosophy of Dinarius Rucker.

[Hoopster]

I'm with you Dinarius Rucker! WOW....LittleMissGrits?!?!? I don't care who takes 50% of my $500,000....if I can turn $1,000 into $250,000 over night I will consider myself very very fortunate!!!! Much more fortunate than most the people in the world. To think you got 36 pluses to boot!?!?!?

I must say Dinar Vets has been international and national cultural learning experience for sure!!!

I think the plus marks were for the part about the government taking a lot more than it's fair share (which we all know they do and are looking for ways to get more)--not that the return on the investment wasn't spectacular. JMO

Hoopster

[Delta1]

It's still not clear to me what caused Adam to be so excited with a 10 day window of opportunity, and what changed to extend this window another month? What was supposed to happen that didn't? Who/where is the bottleneck in the RV process, ministries, Maliki, U.S., Ch 7?

[SR71_Blackbird]

6:08 PM [whitelions] there was an article in the walls street news that said there were going to be a lot of instant millionaires because of the IDQ very soon did you read that?

6:09 PM [Adam Montana] whitelions I read an article on FORBES today not WSJ.

6:09 PM [whitelions] what did you think of it

6:10 PM [Adam Montana] I agree with him that's why I've done so much ASSET PROTECTION work in the VIP room

6:10 PM [sassyk] And that was an opinion -article ----

6:10 PM [Adam Montana] but it was an article from a CPA who had a good view on the Dinar - and his point was that we are not going to pay LT TAXES no matter what, it will be INCOME TAXES at the bare minimum

For those who are interested, here's the article. Read and draw your own conclusions.

50 dinars, what's it worth?

Postscript. After reading several good comments on this blog exposing the buy Iraqi Dinar get rich quick scheme as a scam, I want to make it very clear that I also believe it’s a scam. My intent for the original blog was to answer tax questions about holding physical currency as an investment, not to drill down into the Iraqi Dinar scheme. I may do just that in a follow-up post soon. -R.G.

Dozens of people have signed up for tax consultations with me over the years looking for a windfall profit on the U.S. government revaluation of the Iraqi dinars back into U.S. dollars. In other words, these were people holding dinars who were hoping they could exchange them for dollars again.

Most dinar investors are current and ex-military, warzone contractors and now speculators. A cottage industry of promoters has sprung up on the Internet promising dinar “get rich” schemes. Many have invested, say, $5,000 and they hope to make millions. I’ve always thought it was a scam, as it sounded too good to be true.

These people ask me about their potential large tax bills. Most hope for long-term capital gains tax rates, currently up to 15 percent. I have to give them the bad news: holding physical currency is considered ordinary gain or loss in Section 988 (foreign currency transactions). Unlike forex traders, who don’t hold physical currency and don’t take or make delivery, they can’t file a capital gains election to opt out of Section 988 and into short- and long-term capital gains treatment.

That means no lower 60/40 futures tax rate either (Section 1256). At least, it’s not considered a personal loss which otherwise can’t be deducted, as is the case when a person returns from a vacation and exchanges his left over currency from that trip. Investors in dinars can deduct ordinary losses in Section 988, but few expect a loss.

Lords of Finance: The Bankers Who Broke the World by Liaquat Ahamed is about how the four leading central bankers from the U.S., U.K., France and Germany navigated in and out of WWI and financed recoveries and German reparations. These central bankers went off and on the gold and new dollar standards by manipulating their exchange and interest rates and much more. This is how money and power (military and otherwise) go hand in hand.

Our current situation begs the question: Did the Bush administration plan on, and is the Obama administration still considering, paying for part or all of the Iraq war by collecting taxes from the revaluation of the dinar?

Special Offer: Safety In High-Yield. Three of Richard Lehmann’s fixed-income portfolios yield more than 7.1%. Click here for to gain access to his portfolios in Forbes/Lehmann Income Securities Investor.

If this scheme has any resemblance of reality, it could be an interesting revenue raiser for the government, and I know the government is hunting for revenue raisers and closing of tax loopholes.

Maybe the story here is just that it’s a scam. But, if rumors in the marketplace are true, and the dinar does revalue and allow conversion for most to pre-war levels, what are the ramifications for the government, Iraq, the military, investors and taxpayers? Also, what’s holding up the revaluation? Can Iraq handle it?

It does sound like a happy ending which makes me suspicious. How much tax revenue do U.S., state and local governments stand to collect? How many former and current military personnel and contractors stand to become millionaires overnight?

[umbertino]

Welcome to my world.........been paying close to half for years.

That's a shameful lot.

Now it's september, then october, and so on... A never ending pattern of suck.

You learn fast.

[hardmoney1]

I will never understand how anyone can imply that if I take a $1000 that turns into a million dollars and then end up with $500,000 ... because the govt took half of it ... that somehow that is still awesome! It is robbery, plain and simple! The govt did not earn the investment dollars in the first place. In fact they collected taxes on that too. They did not take the risk to invest the dollars. They simply stand there with their hands out. It is thievery, and it should be called what it is! Now give me negatives if you want, I could care less!

Thanks, LittleMissGrits!!!!!!!!!!! My thoughts exactly. Many will NOT remember (or did not know) that income taxes in the very recent past was 91%!! Yes talk about thievery - CONFISCATION OF ALL INCOME ABOVE $400,000. Our taxes (though still stealing!) are MUCH LESS than in the past, thanks to Ronald Reagan!! However, if the liberals get their way, "YOUR FAIR SHARE" might again be 91%.

AFTER ALL, IF YOU LISTEN TO OBAMA SPEAK ABOUT MILLIONAIRES AND BILLIONAIRES - THEY ARE NOT "PAYING THEIR FAIR SHARE" NOW! LOOK OUT! VOTE!!!!

ELECTIONS HAVE CONSEQUENCES.

MAKE SURE YOU ARE VIP AND KNOW HOW TO STRUCTURE YOUR ASSETS LIKE THOSE WHO MAKE THE RULES (THE RICH). By the way, did y'all know that Patrick Henry established a trust hundreds of years ago, and it is still in existence. JUST SAYIN!

[jlopez]

Ok.. so I have a question.. First of all I'm a VIP member and even with all this talk I believe there's a chance for a LOP because of everything that has been drilled in my head. As I stand I'm all for the RV and after reading this chat I feel that where Mr Montana is heading. So my question to you all is are we really expecting an RV (which makes sence to me at a rate of .10 -.40) I'm currently Stuck here in one of the worst cities in Iraq Ramadi and I would love to go home to my 3yr old boy as soon as possible.. Thanks for any help on your own thoughts..

GO RV

[Blessed4ever]

Of course, I have no idea how this is going to go down.

But I have spoken to several people who are very familiar with Muslim culture, and a couple who have actually been in Iraq during this time of Ramadan.

I have been told that the government continues to work, and everyone continues to spend money.

Yes, they DO fast during the day, but they buy stuff; spend money, eat, drink and are merry all night.

So, I understand Adam says the RV will not happen during Ramadan. He may very well be correct; but I have talked to others, that say this is a non-issue.

I guess we'll see; I like to believe (hope) that it wont matter!!