Questions for Adams chat 12-21-2011

[pattyangel]

I was hoping that we wouldn't have a chat this time around, but more of a celebration.

You said that the UN had to officially announce Iraq a Fully Sovereign Country and everything should follow through, do you still stand firm on this?

MERRY CHRISTMAS TO YOU AND FAMILY

[bamagirl]

Hope your family has a blessed Christmas...no questions this week, I think at this point we are just waiting. BTW, sorry about the Packers loss, heartbreaking for sure.

[FlintNPebbles]

Hope your family has a blessed Christmas...no questions this week, I think at this point we are just waiting. BTW, sorry about the Packers loss, heartbreaking for sure.

Ditto for me.. My 6 yr old daughter was so upset that the Packers lost, she'd been enjoying telling her dad how much better the Packers are than the Bears(we live in Bears country)

[few24u]

So much football talk, I will put my question as if this was a football game.

Seems like around Thanksgiving we were all standing on our feet as it seems our team was in the red zone and was about to score. Thanksgiving past and we still did not score. Would you say, at this point, we are now out of field goal range and it's 4th and 20? Or did we fumble and no longer have the ball and just have to play defense for awhile? Or are we still in the red zone and it's 2nd down and goal from the 4 yard line?

I know dumb question, but what the heck. Maybe too much eggnog!

Blessings for a wonderful Holiday season to everyone!!!

[TexasGranny]

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[pluMmet]

Hey Adam- Something seems strange to me.. In this article that came out after the whole trying to kill Maliki thing a GOI rep said the following "political crisis taking place now in Iraq has affected negatively on the Iraqi dinar exchange rate and the dinar fell by 4 percent during the past two days." As we can see the CBI remains unchanged yet as I reflect I seem to recall similar statements of fluctuations in the recent IQD news (past few months.) Where are these fluctuations being felt if not in our ordering of IQD and not on the CBI website? p.s. MODs rule

[mariejose]

ADAM ARE YOU CONCERNED WITH THE CURRENT CRISIS THAT IS NOW FACING THE GOI. AND DO YOU THINK THAT THE US. HAS ANY WAY OF INTERVENING TO GET THE GOVERMENT BACK ON TRACK.

[BigBear]

Adam do you think this article is true. Are we now 6 months away from RV AGAIN??? Thanks man! Big Bear

Baghdad, 20 December / December (Rn) – The Central Bank of Iraq, Tuesday, that the U.S. withdrawal from Iraq will support Iraq’s economy and will contribute to opening up to international banks as it is the exit gate of the seventh item in the final month of June next.

The deputy governor of Central Bank of Iraq the appearance of Mohammed Saleh told the Kurdish news agency (Rn) that “the economic situation in Iraq will become a focal point for investors after the U.S. withdrawal because Iraq has become a country of peace and not a country for the war as was the presence of U.S. forces.”

Saleh pointed out that “the withdrawal of U.S. troops out of Iraq will facilitate the procedures of the effects of the seventh item is a final addition to the protection of his money in full.”

The UN Security Council has decided the middle of last January a unanimous vote on three resolutions concerning the lifting of the embargo imposed on Iraq on the import of nuclear material for peaceful purposes, and repealed the Oil for Food Programme, as extended immunity for damages that were imposed under Chapter VII until the end of June next year.

Saleh added that “investment companies will have a greater role in the implementation of investment projects in addition to opening up Iraq’s banking world banks.”

The Ministry of Planning earlier that the withdrawal of U.S. troops from the country will contribute to attracting international companies and the adoption of the budget next year, and that “the exit of the occupiers will support the budget in 2012 in the implementation of investment projects.”

He underwent attributable Iraq after Kuwait during the reign of former Iraqi President Saddam Hussein in 1990 for a series of United Nations action included to prevent the import of chemicals and nuclear technology that could be used in the programs of secret nuclear, chemical and biological weapons.

And allowed the United Nations in 1996 for Iraq, according to Resolution 986, to sell oil in return for food program, a so-called “oil for lunch.”

No chap 7 release till June 2012? Any thoughts on this-or more smoke and mirrors from Saleh?

Read more:

[marnie]

Thank you Adam in advance for all your knowledge.

Adam,

In your opionion is the RV a part of the "plan" to deal with the global Financial Crisis? (i.e. bailout for European debt) If so, certainly will only be short term solution for a country that has gone from being the biggest "lender" to the biggest "borrower".

[nbr3bagshotrow]

Adam, thank you for your assistance. I have a question about the speculation rate of .10. If Iraqi wants to secure the dinar that is in circulation, don't you think a 1:1 rate would be a better place to start? If it is .10 and buy back at bank is .085 minus cost of dinar and cost of dinarvets (good investment) and taxes; at 20 thousand per 500 I will reinvest and sit another 2 years. So how will that help them? I'm on econ 101, thanks.

I guess when the Executive Director, Christine LeGuard (sp), says Iraq will have a strong currency, then if it's $0.10, her definition of strong is a lot different than most.

[marnie]

Adam,

I just typed this but cannot find the post. I apologize if it posts twice.

A couple of sites have stated that the news reports from the past weekend (I.e. Maliki & Parliament boycott, arrests etc.) have been exagerated, and are a "smoke screen" for the RV. What is your opinion of the events from this past weekend and in your opinion, what is the impact to the timing of the RV?

Secondly, With Iraq soliciting foreign investors, this seemed like the worst message of instability they could have sent to the world. As a business owner I would take a big step back to watch to see if they can keep it together. Your opinion?

Thak you Adam for your insight and level headedness.

Adam,

Given that you have been in this investment for over 7 years, looking at where everything is today; if you were looking at this as a new investor would you invest in the IQD today? (Just looking for your opinion, no guarantee.)

Thank you.

[dinarsoulmate]

Adam and Staff, I wish you and your family a very Merry Christmas and thank you for all you do for all of us who are awaiting the RV. Thank you for helping keep us grounded and patient in this investment. I always look forward to your chats.

[jaman]

merry Christmas everyone.....GO...RV

[SINGH]

I understand smoke and mirros, follow the money thing, but with all this in-fighting and arrest happening, do you think Maliki is cleaning house of the bad apples, for the betterment of the country/people or is he playing a dictator role?

Thanks in advance for answering and if not still thank you for all you do.

[Hallermonk]

Adam,

There is still no consensus on the CBI Daily Currency Auctions. Are they selling Dinars to raise foreign reserves or are they buying back Dinar from circulation?

I think those of you who actually know are confused just how many people are divided on this subject.

If you want to also expound on how the auction effects our potential RV (positively or negatively) that would be great also.

Thanks

[learning all i can]

Good Morning Sir, If you could use only one (1) word to describe the situation in Iraq right now; Would you choose 1. evolution or 2. revolution? If neither of these words fit your fancy, what word would you use and why?...Thankyou and Merry Christmas to you and your family?

[redchevrolet]

When they say "raise the zero's" are they talking about taking them off the notes or off the .000854 rate?

[Ateam]

Adam what info do you have other than pure speculation that this is even close to going down? Do you have any contacts that know anything. I have heard so many times something BIG is going down and it clearly never occurs.

[marknet73]

I feel that most of the research shows that a modest RV, in the range of 10 cents to start, would be much more beneficial to Iraq's economy in the long term than a redomination or continuing to leave it unchanged at 1170. Who will have the final and ultimate say in pulling the trigger? Do you see it going into mid 2012?

[edbeach]

Adam

First I would like wish you and your family a Merry Christmas

In regards to RV & WTO are they able to RV while they in Chapter 7 & become a member of WTO while under 7.

MY impression is only sanction left is dealing with Kuwait and able to RV & join WTO as long as they have the approval of the UN.

If not please explain why not able to RV while under Chapter 7 Thank you

[waitingondinar]

hey Adam, I have read in one of the posts that this process could take to 2013??

With all the latest negativity,regarding Mutlaq and Malaki,and Hashemi, can this process continue

to an RV? Does it appear at this point in time that 2011 is not in the cards for an RV?

[luckyone]

Hi Adam, I have heard several times in this forum that if there is an RV first then there won't be a LOP/RD later. What is your take on this? Thanks and have a good xmas.

[ybass]

I listen to The IQD team conference call last night and they had a lady on that called the united nations and ask what were the oustanding sancations on Iraqi? She were told that there were only 2 outstanding sanctions they were minor things and none of them had anything thing to do with the HCL, Ebril or the Kwait boarder issues.

And the IQD team was going to have the documenation that she was sent posted on there website today. Any comment?

[winterset]

Happy Holidays Adam! Do you believe that the RV is being planned with the thought of limiting the wealth of the average citizen of Iraq? The way they are stating in country exchanges with the new note could prevent many millinaires, do you agree?

[coorslite21]

Adam,

1. Is the Iraqi government paying current contracts at rates that are conditional to a revalued currency? If we are out of there, and the dinar at this point has no value, how are they paying for things?

2. Also, the US has stated that we are buying oil from Iraq at a reduced rate, how can the US capitalize on this contract without Iraq being released to trade internationally?

3. Last week Russia was allowed entry into the WTO, and that took 20 years….How long do you think it will take Iraq to gain that status?

Thanks,