Adam "Official" Chat 9/28/11

[LUHRST32]

Adam,

Thanks for your time and information.

[bigdaddydm11]

Wow! a lot of information to take in. Thanks Adam, I learn so much every time I get on here.

[Hoopster]

Love the new format--so much easier and less confusing to read. Thanks Adam et al.

Hoopster

[woolytime]

New format is great, so easy to follow. Great job the two of you. Thanks Adam for keeping it real.

[uncirculd]

OMG!!!! Adam said the RV is tommorow..................and at $17!!!!!!!!!!!!!!!!!!!!!!!!!!

Don't you dare run with that. We have enough problems here.

[make11]

THANKS!

[uncirculd]

Adam your chat was best put as JIT. Too many rumors and mixed signals.

[maleko05]

Thanks Adam...

[glo]

thank you Adam and Kcw

[Markinsa]

Originally I thought the CBI auctions were selling IQD for USD- which would be a bad thing-lots of dinars to revalue.

Later I understood that the CBI was auctioning USD for IQD- which makes sense if they are going to revalue.

So what is it- USD for IQD or IQD for USD?

They do both.

-

[srdedeaux]

Best Chat yeat! Keep it comming...................................................! GO RV 17.0 Yaaaaaaaaaaaaaaaaaaaa B) B)

[DiNaR DoCtOr]

Originally I thought the CBI auctions were selling IQD for USD- which would be a bad thing-lots of dinars to revalue.

Later I understood that the CBI was auctioning USD for IQD- which makes sense if they are going to revalue.

So what is it- USD for IQD or IQD for USD?

I really do not see them as selling USD for IQD, but I am not going to say that it is wrong, becasue its not like I know for sure. But, look at this from today's post on the currency auction.

Details Notes

Number of banks 21

Auction price selling dinar / US$ 1170

Auction price buying dinar / US$ -----

Amount sold at auction price (US$) 151,758,000

Amount purchased at Auction price (US$) -----

Total offers for buying (US$) 151,758,000

Total offers for selling (US$) -----

Now if the CBI puts this information out why would it state auction price SELLING dinar. I see that they are selling dinar and there were offers to buy. The USD value is just used to state how much was sold in USD. Again, I am not 100% but that is how i read it. Its the CBI's information and they are given the amount sold of dinar, aka selling dinar

[Rdy_Stdy_GO]

Thanks Adam... Free from "BS" as usual, much appreciated.

[Hoof]

Thanks Adam.

Great chat.

I will be so ANGRY if it rv`s now, cos iam going far far away and i cant take it with me, my only worry is if it rv`s when iam away and RD before i get home, BUT if it does Rv while iam away, it will be the quickest holiday ever loooooooooooooool

Edited September 28, 2011 by Markinsa
Language: See Forum Rules

[4Horsn2]

Good afternoon to all!! Dang...so caught up in work that I missed the chat!!

Thanks for posting, KCW!! And as always, thanks for the insight, Adam!

[HappyDays]

Thank you Adam for the chat! It was very informative and helpful. The new format is much more reader friendly too.

Thank you kcw also.

I've stayed away from the site for a short while. It was getting addictive with all the rumors (of course I had to know how it turned out) then I thought 'It's just like a soap opera' then I laughed.

Thanks again for all you do.

Come on RV!!

[emgee]

Awesome chat; very informative! Thanks Adam.

[dinarsoulmate]

Adam, thank you for the very organized chat today! I happen to log on this morning to see if there was info as to the time you would be "chatting" today, and, there you were in a live chat! I missed most of it, but, was just able to read the entire chat in the log. Very nice format you have now.

I'm off to spend all the money I will be making tomorrow from my investment! LOL

[betsy1949]

One of the most informative chats in a long time. Thanks for all the info. New format is great, much easier to read and understand.

[Bumper64]

Thanks kcw for the great work you did on this chat!!

Adam, I think this was a great idea the way these new chats are handled!!

Sorry I wasn't there to help, I stayed in chat as long as I could this morning but had to run out for a meeting!!

Great Chat!!

Thanks

Bump

[dhardage]

Thanks kcw for the great work you did on this chat!!

Adam, I think this was a great idea the way these new chats are handled!!

Sorry I wasn't there to help, I stayed in chat as long as I could this morning but had to run out for a meeting!!

Great Chat!!

Thanks

Bump

Bumper? You mean that you do something other than babysit all of us here? I'm heartbroken!

[jgyear]

thanks adam for the update, keep em coming.

[brbrlocke]

Thanks for the chat....

[ems]

[Adam Montana] in closing: the RV is tomorrow at $17

That does it! It's official now folks. I don't know about you, but I'm buying more IQD.

I'm just kidding and Adam is also kidding.

Great chat, Adam. Thanks for your replies to the questions.

[xyzzy]

Most of Adam's comments are common sense (which is good!). i.e. stop paying attention to folks claiming stuff they can not know. e.g.

• Ch 7 will be lifted when the UNSC votes to do so and not before.
  
• We hope for an RV, but it might not happen for years and might NEVER happen at the scale hoped for
  
• With access to docs from the UN, CBI, GOI, etc we likely have as much if not more info than claims from the "boots on the ground" folks.
  
• The massive global currency reset is tinfoil hat territory
  

All good to see.

There are (as usual ) a couple things I take some exception to:

First Adam continues to use the term RD to mean issuing lower denominations of the curent IQD currency. This is simply contrary to every document describing a redenomination in all the countries that have done so including the entire EU. This only serves to add confusion and I really wish he would stop doing so. Using the proper term does not mean it has any more or less likelihood of occurring, it just helps keep the conversation clear.

Secondly he states that the average Iraqi that has a bank account has on average $200 worth in it (200,000 dinar) so that stash increasing in value to $200,000 worth would be not cause a huge problem. The stated amount might be a bit low (the CBI I think says there are 8T dinar in banks so with 30M people, 10% with banks accounts comes out to 2.6B dinar per account, so Adam's estimate might be off by 10x (but hard to say). However the key issue here is just the delta. Having your entire savings increase by 1000x is going to generate a lot of import buying and Iraq does not appear to me to have the foreign reserves (and the means to replenish them) to sustain that, let alone on top of the liability from the cash in from investors. Even if Adam's estimates are correct that's (after a 1:1 RV) $600B USD and that is only the 10% of the population that use banks. I think its safe to assume that at least 2 or 3 times that have their savings in the cookie jar so we are easily talking about something on the order of $2T USD of new found wealth and an equal number at least outside the country. Even if only 1/10th of that comes in (for import purchase in Iraq or cash in from the outside) that would be a hit of at least $400B USD right off the bat that Iraq can not support. And it won't just stop there either but keep going. I think this makes a 1000x RV simply out of the question.