Adam "Official" Chat 9/28/11

[desert surfer]

Thanks for all the great info. It will be funny when someone said that you really were predicting tomorrow @ $17. Blessings to all.

[randalln]

I like this now its caching it will probably be all over the net by night fall hahahahahahahahaha

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

Read more: http://dinarvets.com/forums/index.php?/topic/85737-adam-official-chat-92811/#ixzz1ZHT8MEQE

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

Dont lie do us Bump you know you hate the same Q&A over an over

You were probably in the middle of tuning up that bike hahahahahahahahaha

[cgbrown]

Enjoyed reading the chat, questions and answers. Thanks Adam for honest up -to- date reporting of news concerning our investments.

[DayTrader]

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.

Do you even know what the average Iraqi makes a year? 2.6B per account! Ha Ha Now that is fricking funny. Go research a little more and come back. They will probably do a dinar for usd cash in at first, (At Old Current Rate) then revert to the lower denoms to usd value then go up. All the big bills will be pulled and replaced. I believe in country citizens hold mostly usd anyway. They will not make their people wealthy. In my Opinion. So Says.........................DayTrader

Edited September 28, 2011 by DayTrader

[Bumper64]

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

Yes I do!!!

I have to keep food on the table until this darn thing RV's

But I do enjoy the babysitting job too!!!!!

Dont lie do us Bump you know you hate the same Q&A over an over

You were probably in the middle of tuning up that bike hahahahahahahahaha

I have been so busy trying to get my new business running the way I want it to in this stinky economy!!

I haven't even taken the bike out in a month or two!!

I had to shut down my other business (bad economy)so I REALLY need this one to take off or I am going to be in trouble!!!!

[caughtinthecrossfire]

Adam, Mods,

I really do like the new format. I enjoy greatly being able to jump online and check out the chat I missed (now) knowing that MANY more questions will be answered. Also, there were some great questions, too. Alot of myth busting and Intel inlightenment today.

For all you do, Adam and Mods, THANK YOU for making my investment as worry free as possible!

God Bless

P.S. Also, it seems that many other great comments are possible from others DV's after the chat is posted

[Priscilla]

Thanks Adam for the chat! Now that it's not a zoo , you are able to spend more time with us!

Thanks for all the great info. It will be funny when someone said that you really were predicting tomorrow @ $17. Blessings to all.

If that happened I would probably go insane Well, it's ok, lets give it a shot anyway

[DAME1]

Adam

If they never stop using the dollar,there will be no need to revalue their currency. They are at 1 to 1 with the dollar...this was said by someone who is a friend of GWB........I hope this is wrong.......

Dame

[tampa1000]

Good post!!!

[Hoof]

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.

Ems Imagine if Adam WASNT kidding )))))))))))))))))) I WISH

[randalln]

Yes I do!!!

I have to keep food on the table until this darn thing RV's

But I do enjoy the babysitting job too!!!!!

I have been so busy trying to get my new business running the way I want it to in this stinky economy!!

I haven't even taken the bike out in a month or two!!

I had to shut down my other business (bad economy)so I REALLY need this one to take off or I am going to be in trouble!!!!

Hey after the RV you can come work as head of security at my GO-GO bar in Thailand hahahahahaah

50/50 partners

[xyzzy]

Do you even know what the average Iraqi makes a year? 2.6B per account! Ha Ha Now that is fricking funny. Go research a little more and come back. They will probably do a dinar for usd cash in at first, (At Old Current Rate) then revert to the lower denoms to usd value then go up. All the big bills will be pulled and replaced. I believe in country citizens hold mostly usd anyway. They will not make their people wealthy. In my Opinion. So Says.........................DayTrader

Sorry that was just a typo, I meant to say 2.6M (i.e. I did say Adam's estimate of 200,000 was likely off by 10x, not by 10,000x). You want research? here you go: http://cbi.iq/documents/Annual_2009f.pdf page 7. At the end of 2009 21.7T dinars was "outside of banks" and 15.5T was in "on demand deposits". So actually my 8T number was too low by nearly half. So if the 10% of Iraqi's that have bank accounts is correct then the average is around 5M dinar per account.

So my point remains, this makes a RV of $1 USD to 1 IQD out of the question.

Edited September 28, 2011 by xyzzy

[Bumper64]

Hey after the RV you can come work as head of security at my GO-GO bar in Thailand hahahahahaah

50/50 partners

I'm all over that job!!!

[DayTrader]

Sorry that was just a typo, I meant to say 2.6M (i.e. I did say Adam's estimate of 200,000 was likely off by 10x, not by 10,000x). You want research? here you go: http://cbi.iq/documents/Annual_2009f.pdf page 7. At the end of 2009 21.7T dinars was "outside of banks" and 15.5T was in "on demand deposits". So actually my 8T number was too low by nearly half. So if the 10% of Iraqi's that have bank accounts is correct then the average is around 5M dinar per account.

So my point remains, this makes a RV of $1 USD to 1 IQD out of the question.

I've seen all the PDF Files. What most people don't understand is how I believe Iraq will handle "In Country" Exchanges. I believe they will exchange to USD at the "Now" rate and then gradually slide in the lower denominations at par with the USD. As they ease the exchange rate up it will naturally de-dollarize the country. I don't believe they will ever completely be without the USD unless they outlaw it's use completely. Almost every country uses the mighty dollar in some form. This would be an easier way of converting the Dinar than the LOP or Stacking money into the locals account. The country will prosper through stronger buying power and the citizens will feel the effects over time. Thanks for coming back and correcting yourself. JMO So Says........................DayTrader

[xyzzy]

I've seen all the PDF Files. What most people don't understand is how I believe Iraq will handle "In Country" Exchanges. I believe they will exchange to USD at the "Now" rate and then gradually slide in the lower denominations at par with the USD.

So basically they are going encourage (or require?) everyone to exchange their dinars for dollars at the current rate (i.e the opposite of de-dollarization). Then RV so only foreigners and those that disregarded this encouraged dollars for dinars exchange get the big profits. Don't you think the Iraq's that followed the plan and get nothing out of it are would be a bit upset? Its good for us, but they are going to do what is good for them, and I don't think your plan fits the bill

I think they are just going to RD and RV at the same time. We can hope they RD only at 100:1 so they can RV at maybe 12:1, but its more likely they will RD at 1000:1 and only RV at 1.2:1 .

[detroitjazzman]

[Adam Montana] Really need the Lions to lose one

Excuse me Mr. Montana......You really need to ratract that statement...Or....Gonna have to report you to the Mods....just saying

[BETTYBOOP]

$17!. .......hmmmmmmmmmmmmmmm...........yipee! i'm gonna be rich!! Sometime in the future!!!! Adam said it $17 . Quick some body call okie and let him know the latest intel.......at least then when he posts it we would know who his source was.. :lol: Thanks Adam..Great info and really appreciate the hard work you and the mods do............now where did i put okies number.....

[lizabeth1]

thanks for all you do..keep it real...thanks adam

[genique05]

Thanks Adam!

[Hawkeye64]

Lov'n the new format! Lots of great straight forward info...no rude interruptions. Thank Adam!!!

[Rossenbos]

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

Adam.... link?

Where is the proof?

Not buying...

[RodandStaff]

Thanks for the great chat Adam... and GO PACKERS!!!... and most importantly...

GO RV Already Baby!!!

[Installer36]

Adam, quick question ....Will TellTheTruth get a email from you because of his 50th post today???? Im pretty sure your aware what it said...thanks for the site and the chat ...Thanks....Chris

[braemar_house]

Awesome chat Adam, as always. Thank you for your straight-up and truthful information. God Bless....Now GO RVVVVVVVVVVVV!

[Francie26]

Adam.... link?

Where is the proof?

Not buying...

Adam said this, but he was clearly teasing in the context in which he spoke. So you aren't being asked to buy it since it wasn't said as a fact.