Adam's Chat of Wed Aug 31

[grand pubah]

Adam: Eid-al-Fitr, which started today 8/31/2011 and ends after 3 days

I read it's 5days ending on the 5th. Was 3days

What they need is more freaking holidays in Iraq!!

I mean a whole month of Ramadan and now Eid-al-Fitr. We should do that in the USA. Celebrate thanksgiving for a month, go right into Christmas and then enjoy New Years.

Of course we would never get anything done but that is what scuba diving is for

[powerpager]

Sounds Great !!!

[umbertino]

Dont get too excited! There have been many moments like this one where we believe the rv will happen any second.

Last year Shabibi said he would revalue the currency before the end of 2010 and we all thought it would DEFINITELY happen before the end of the year. What a Christmas it was going to be....we still wait!

Just because we have a link doesnt mean its true. So much money is made off of dinar sales and soon vnd sales that we really cant believe this until it happens

Totally agreed and thanks..........I believe that unfortunately we'll be falling into 2012 as for more or less realistic expectations about this one......I'll be happy to be totally wrong of course and that it occurs tomorrow...But at this point I think we'll go beyond the end of 2011.....Still a few things to get done and them taking their time a la Iraqi......Let's not get delusional....

Good Luck to us.

Edited September 1, 2011 by umbertino

[Carrello]

Where did you get this info?

Just curious.......

Iraq Business News

Iraq Loses $22m due to “Extra” Eid Holidays

Posted on 31 August 2011. Tags: Eid al-Fitr, Iraqi Market Center, ISX, Stock Exchange

--------------------------------------------------------------------------------

An Iraqi economist says the country will lose $22 million because of “extra” Eid al-Fitr holidays that the Iraqi government announced.

Eid al-Fitr, which follows the Muslim holy month of Ramadan, is usually three days, however, AKnews reports that the Iraqi government last week extended the holidays to six day, to accommodate differences between the Sunni and Shia calendars.

Ali Keji, an economic analyst with the Iraqi Market Center, told the agency that “according to the preliminary estimates, Iraq will lose approximately $22 million [26 billion Iraqi dinars] due to the suspension of the stock market during the six days”.

He complained that the “government does not respect economic problems because of the holidays. It takes such a decision without consulting the Securities Commission and the Central Bank.”

Iraq’s stock exchange (ISX) handled 210 billion shares worth about $326 million since January, an increase of about 40% on last year. In 2010, the total fiscal year’s 255 billion shares were worth about $342 million.

Hundreds of Iraqi and foreign businessmen and share-holders deal with the ISX.

Salam al-Quraishi, an economic adviser to the Iraqi government said “the holidays cause delays in the economic and commercial transactions but not huge money losses”

He defended the government’s position saying they have talked to economic institutions before taking on any such decision to extend the holidays to six days.

“When the Iraqi government decided the Eid al-Fitr holiday to be extended for six days, it had actually consulted economic institutions and looked into its impacts on economic activities.”

(Source: AKnews)

Posted in Banking & Finance, InvestmentComments (0)

[RodandStaff]

Thanks Paperboy for posting... and Thanks Adam for the great information.

So Pink Piggy... is it time for "another" countdown??? Hmmmm????

GO RV Already Baby!!!

[MovieMaker]

Very positive stuff!Thank you for sharing is such a timely manner, as usual

[cooked]

Adams timeline should give Okie and his buddies plenty of time for some serious pumping. Adam I hope you are right about this being very close. Thanks for the great chat!

Oakie and friends heven't the brain capacity to think that far into the future. They will just keep saying the next two days with many excuses to bail them out. Shoot I wish Oakie was right one of these days.

Here little pink piggy piggy

[Wahinekapu]

Thanks Adam for the chat. I like the possible time frame; my husband will be further along in his recovery from foot surgery and I won't have to choose . . . go to B, give him his meds, go to B, give him his meds. God bless us all.

aloha

[Danneedsrvnow]

Iraq Business News

Iraq Loses $22m due to “Extra” Eid Holidays

Posted on 31 August 2011. Tags: Eid al-Fitr, Iraqi Market Center, ISX, Stock Exchange

--------------------------------------------------------------------------------

An Iraqi economist says the country will lose $22 million because of “extra” Eid al-Fitr holidays that the Iraqi government announced.

Eid al-Fitr, which follows the Muslim holy month of Ramadan, is usually three days, however, AKnews reports that the Iraqi government last week extended the holidays to six day, to accommodate differences between the Sunni and Shia calendars.

Ali Keji, an economic analyst with the Iraqi Market Center, told the agency that “according to the preliminary estimates, Iraq will lose approximately $22 million [26 billion Iraqi dinars] due to the suspension of the stock market during the six days”.

He complained that the “government does not respect economic problems because of the holidays. It takes such a decision without consulting the Securities Commission and the Central Bank.”

Iraq’s stock exchange (ISX) handled 210 billion shares worth about $326 million since January, an increase of about 40% on last year. In 2010, the total fiscal year’s 255 billion shares were worth about $342 million.

Hundreds of Iraqi and foreign businessmen and share-holders deal with the ISX.

Salam al-Quraishi, an economic adviser to the Iraqi government said “the holidays cause delays in the economic and commercial transactions but not huge money losses”

He defended the government’s position saying they have talked to economic institutions before taking on any such decision to extend the holidays to six days.

“When the Iraqi government decided the Eid al-Fitr holiday to be extended for six days, it had actually consulted economic institutions and looked into its impacts on economic activities.”

(Source: AKnews)

Posted in Banking & Finance, InvestmentComments (0)

Thanks!

Edited September 1, 2011 by Danneedsrvnow

[watercop]

thanks all Go RV

[Billb]

Thanks Adam for keeping us informed. Thank you Paperboy for the second half of the chat.. You guy are the best!!!!!

[Adam Montana]

What they need is more freaking holidays in Iraq!!

I mean a whole month of Ramadan and now Eid-al-Fitr. We should do that in the USA. Celebrate thanksgiving for a month, go right into Christmas and then enjoy New Years.

Of course we would never get anything done but that is what scuba diving is for

LOL!!!! You are so right, they have holidays to celebrate holidays! It's pretty unreal

[Texas1]

Adam: Eid-al-Fitr, which started today 8/31/2011 and ends after 3 days

I read it's 5days ending on the 5th. Was 3days

6

[Tonycop]

To avoid paying alot in taxes here is what Im doing. WHen it hits, Im cashing in a small portion of my dinar and buying a house in Fla. Fla has no state income tax and no estate tax. That means I will save 6.5% on my CT state income tax and when I die alll my money goes to my family because there is no estate tax in Fla. I will make Fla my perminent residence and reside there 6months and 1 day a year. After purchasing my Fla home I will cash in the rest of my dinar avoiding my CT state income tax of 6.5%. The federal tax is 35%. Im sure there will be a bank fee to cash in so I use 1%. Total federal tax and bank fees would be 36%. 100% less 36% give you 64% of profit without any State Income Tax. So you can multiply your dinar by 64% to get your net income.

When you go invest it in a bank you negociate the interest rate. If you have friends with dinar go with them bank to bank. Lets say you have a couple of friends and you all go bank to bank to invest your money. Banks right now are offering less then 2%. When you go in with 200,000,000 between the all of you and you better get a rate better then that. For example if you have 5000 dinar thats 5million in US dollars and if the dinar comes out at $2.50 you have $12,500,000 mutiplied by 64% and you net 9 million dollars. 9 million dollars at 5% in a bank account is $400,000 a year and you will be taxed on that interest at .35% so you net $256,000. If you have 10 million dinar double it and so on.

[RodandStaff]

What they need is more freaking holidays in Iraq!!

I mean a whole month of Ramadan and now Eid-al-Fitr. We should do that in the USA. Celebrate thanksgiving for a month, go right into Christmas and then enjoy New Years.

Of course we would never get anything done but that is what scuba diving is for

I thought that is what we did do? At least according to the retail stores... Christmas keeps starting earlier and earlier... bout the middle of July these dayz!

Grand you sure can tell you live in Florida... I don't think anybody else would even want to go scuba diving between Thanksgiving and New Years... unless you wanna cut a hole in the ice first! Just sayin brotha! At least I left those extreme cold WI.winters behind me a few years back, but even in TN. you won't catch me in the water that time of year unless it's a hot tub!

GO RV Already Baby!!!

[Halo9678]

DV Fam,

Eid lasts for three days so we're looking at motion beginning on the 3rd. Wait, the 3rd is Saturday. Precisely! IMHO, it is highly unlikely to expect to see any movement until the 5th, that's the first full day of business after Eid. I'd love to be wrong and this happens over the weekend but I just don't see it....

[Adam Montana]

To avoid paying alot in taxes here is what Im doing. WHen it hits, Im cashing in a small portion of my dinar and buying a house in Fla. ...

Unless you are a resident of Florida when the profit is made, that won't work. What you are planning on doing is called, literally, tax evasion.

The only way to avoid paying whatever your state and country ask is to plan and actually do something before the RV. In other words, if the RV happens this month - it's already too late to claim Florida residency on your tax returns. You will owe taxes based on your current situation, not your future situation (residency).

A domestic corporation won't help you, because the money comes to you at the end of the year anyway - so all you do is shelter it (somewhat) until the end of the year.

Any "Trust" you can form inside the US is sketchy at best, and you better hope you have every single "T" crossed and "I" dotted! If you make one little mistake, the Trust can be revoked and then you not only pay the full tax... you also pay penalties.

I have a suggestion for you. Ask any VIP member about our Tax strategies, and ask if it's worth becoming a VIP member. You're stating that you are perfectly happy paying several million in taxes - why not do a little pre-planning to avoid that, and be better protected? And why take a chance and wait until AFTER the RV to negotiate a reduced spread, when I have already done it for you?

Don't get me wrong, I'm sure you and many others are plenty capable of getting some kind of deal by joining up with 5 or 10 or even 100 other investors... but the VIP group here has the leverage of thousands of VIP members, and even more importantly - we are very organized.

You simply can't top that on your own. Nobody can. I couldn't do this on my own either, which is one of the reasons I created the VIP group - to bring serious investors together in a way that will benefit us all.

(If you don't decide to join our group, I understand - it's not for everyone. But PLEASE don't make the mistake of buying a house in Florida and then not paying your local taxes! It simply doesn't work that way. Best regards!)

[army03]

Totally agreed and thanks..........I believe that unfortunately we'll be falling into 2012 as for more or less realistic expectations about this one......I'll be happy to be totally wrong of course and that it occurs tomorrow...But at this point I think we'll go beyond the end of 2011.....Still a few things to get done and them taking their time a la Iraqi......Let's not get delusional....

Good Luck to us.

I agree 100% with you umbertino and I did ask Adam would he consider 2012 no answer. But I hope I'm wrong and things does happen soon.

121 days and counting

Edited September 1, 2011 by army03

[Amber Williams]

hey Adam, quick question. Do you think theyll come out with a low rate in the beginning and then get higher in the weeks or months after??

thanks!

[grand pubah]

I thought that is what we did do? At least according to the retail stores... Christmas keeps starting earlier and earlier... bout the middle of July these dayz!

Grand you sure can tell you live in Florida... I don't think anybody else would even want to go scuba diving between Thanksgiving and New Years... unless you wanna cut a hole in the ice first! Just sayin brotha! At least I left those extreme cold WI.winters behind me a few years back, but even in TN. you won't catch me in the water that time of year unless it's a hot tub!

GO RV Already Baby!!!

Ha ha ha rodandstaff!

That is what a 7 mm full body wet suit is for!!

[keylime]

LOL!!!! You are so right, they have holidays to celebrate holidays! It's pretty unreal

Yesterday I declared my own holiday that will run thru to the RV and then a holiday that will be extended indefinitely to celebrate the RV. Not sure after that.

[rvb4jan1]

Thanks Adam!

[behaviorkat]

Adam, sorry I missed the chat.. busy with work and family this week.

Thanks for posting, Paperboy

I really like the idea of getting more currency info

I am interested in the Yuan (China), and the Won (S. Korea).

--- maybe the Real (Brazil) too!

I have some VND

Really good news about the Dinar!

[lost one]

This little piggy wants to go to the bank.....

[ImaPanda]

Does anyone have an answer to Oklahoma's question?

[OKLAHOMA] Adam Montana -Hi , my dinar was sold to me from scgs.us and it was stolen from jordan, do you think ill have any problems cashing it in?

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