[Adam Montana] no typing please, I have a lot to get through this morning
[Adam Montana] first… WOW we are almost to 1 MILLION posts on dinarvets.com! What a community we have here…. that’s a lot of sharing and caring!
[Adam Montana] I thank you all for being part of this community – it’s the awesome members that make this website run like it does, and I am proud to say that there simply is no better community out there. Cheers to all of you! :tiphat:
[Adam Montana] Now to Dinar!
[Adam Montana] What a couple of days… WOW again! If you just crawled out from under a rock, here’s the latest. HCL is kind of low in the list this morning, but there is still ongoing POSITIVE discussion and news about it.
However, the BIG news is on Shabibi… he is at least temporarily replaced by Abdul-Basit Turki in the role of head honcho at the CBI
[Adam Montana] There have been no charges filed at this time, BUT warrants for Shabibi and at least 29 other bank officials have been filed Maliki seems to be at the head of this charge, and the reason is stated to be financial crimes
[Adam Montana] This comes after a very strong trend in news about banking transparency and advancements. So in my opinion one of two things is happening…
[Adam Montana] These are just initial thoughts, I will have a more solid opinion as news breaks, but here is my thought:
[Adam Montana] 1. We are closer to the RV than ever, and this is the start of an absolute STORM in breaking news. Shabibi has been instrumental in maintaining a stable rate in the dinar and also growing it, but we have always wondered if he would support an RV. [
Now that Iraq is so much more stable and ready to move forward, if Shabibi was simply refusing to cooperate with the RV plan, Maliki is taking the bull by the horns and putting people in place who WILL cooperate. That’s one option.
[Adam Montana] 2. With the RV on the near horizon, the transparency in banking and technology being implemented revealed an actual crime and these charges could be legitimate. What this means is that Shabibi is permanently out, possibly done for good, but on the other side of the coin this tells us that the infrastructure is in place and we are close to GO time. That’s the other distinct possibility
[Adam Montana] So while we are going to watch the news very carefully to see how this plays out, one way or another I think this is good news for us. It means things are moving in a definite direction, instead of just going in circles
[Adam Montana] We do have one possible hangup, and that is of course the US Elections. Being this close to a major shift in world politics (no matter who wins), they will probably be wise to sit on an RV announcement until a week or two after the US Presidential election.
Time will tell, but in my opinion we are simply too close to an even that has a huge effect on the entire world to risk RV’ing right now.
[Adam Montana] I know some will disagree with me, and that’s ok – I hope I’m wrong and the RV is announced tomorrow. However, like Ali said in a recent interview… this is a long term investment. The question is “How long?”
[Adam Montana] Ok, on to the questions! Vizio is standing in for kcw – vizio, thank you very much for helping this morning (and every other morning too!)
[Adam Montana] fire away
[VIZIOIRAQI] [Flyboy42] Adam… Do you think a float may be what CBI has planned, or do you think it will be a RV? Thanks much!
[Adam Montana] Hey Flyboy, thanks for the question. This one has been the center of MUCH debate over the years, and in my opinion it’s a draw. Either one allows for significant growth, and both have their +s and -s.
[VIZIOIRAQI] [chess] ADAM: From your sources, is there a possible split in parliament over when, and at what rate to RV?….thx
[Adam Montana] Absolutely yes – this has been the case forever and it will always be the case. One side of the fence wants the moon and the stars, the other side wants just some green grass, and then there are those that sit on top of the fence. The good thing is that we are betting on either side to win – we win no matter what. Thanks for the question!
[VIZIOIRAQI] [EC429] Will a Dinar float have an impact on the VND?
[Adam Montana] I don’t think it will have any more impact on the VND than on any other currency. A major RV of the Iraqi Dinar will have an impact on the entire global economy and therefore every currency in the world – but the VND and IQD are not uniquely connected.
[VIZIOIRAQI] [capt,cliff] What is your take on these arrest warrents for Shabbibi and the other officers and truth to the rumor?
[Adam Montana] Sorry, should have removed that one – see my opening statements. :tiphat:
[VIZIOIRAQI] [laid back] Hi Adam, CBI’s M2 is getting smaller each month. What is your opinion on this? Thanks in adavance.
[Adam Montana] Laid Back, good question. The M2 is one that’s heavily debated and a very long discussion not really suited for a chat with limited time. However – growth or reduction in the money supply, inflation, M2, or any other item is obviously important.
What we need to focus on is one question: “Is Iraq heading the right way?” I can answer that with a :twothumbs: YES :twothumbs: , and that’s all I need to make me happy with my decision to invest in the Dinar
[VIZIOIRAQI] ametad Adam, do you think the US elections in the first week of November have a strong effect? Say for instance that the Republican side has orchestrated this through the Bush presidencies, would then the Republican Party want to hold off the RV from being a significant impact on the US economy until another republican gets elected into office?
That way the Republicans have more to claim as positive ecomomic turn around during a Romeny Presidential term if it happens. Also, would the election or the swearing in of the president be more pivotal? Thanks.
[Adam Montana] This is a great question. I addressed it briefly above, but to reitterate – I do believe that the timing is going to be affected by the US elections. I don’t think that was always the case, but you can’t predict everything in a case like this.
[VIZIOIRAQI] [RVPlease]Today It seems like the situation in Iraq is becoming less stable every day. Stories of arrest warrants, threats to unseat this or the other GOI official, one or the other segment in Iraq demanding this or that.
National meeting on and off and on and off again. Assassination attempts left and right. Is it still likely any kind of significant change to the currency will happen in this chaotic and dangerous atmosphere?
[Adam Montana] RVPlease I will have to respectfully disagree with your assessment that the situation is less stable. Yes, there are still news reports that show Iraq is not yet as perfect as the US, but quite honestly – I think they are very stable and are getting more stable all the time.
Now, the current situation with Shabibi is going to be a rocky one for a week or three, but there’s simply no way to expect an RV to happen without a few heads rolling!
[VIZIOIRAQI] [M.Duke ] Hi Adam I just want to say keep up the good work and how much it helps us the new comers out!
[Adam Montana] My pleasure
[VIZIOIRAQI] roseserv HI Adam! Thanks for all you do here! Do we have an exact count of how much Dinar is actually in circulation at this time? I have read conflicting counts…
[Adam Montana] Conflicting counts is a nice way of putting it No, we don’t have an exact count. The CBI would be the only place to get it, and they contradict themselves regularly on this topic.
It’s my opinion that they do not WANT that information out there, because they would lose some control of their future plans if every detail was transparent. Good question.
[VIZIOIRAQI] [TimS] Do your sources say what is going on with Shabibi and this arrest warrant? Sounds like Maliki is behind this…what do they (or you) think he is trying to accomplish?
[Adam Montana] I answered that one in my opening statement as well. next please!
[VIZIOIRAQI] [skitealwedrop] What do you think about Felix Baumgartner’s jump yesterday? Sometimes, epic sports and historic events overcome me more so than the daily grind of DV news.
[Adam Montana] Sometimes it is indeed nice to get away from the Dinar for a bit. That jump – I can’t imagine what that must have been like! To BREAK THE SOUND BARRIER… wow. Just – wow.
[VIZIOIRAQI] [Northern Lights] What does your contacts tell you about what is really happening with regards to Shabbi and the Central Bank? Is Shabbi being replaced?
[Adam Montana] addressed that one too. next please!
[VIZIOIRAQI] TPSprayduster SInce the PM’s croonies are trying to take control of the central bank will this be a prelude to an RV?
[Adam Montana] I discussed that in more detail above as well, but to expand a little – I do think this has great potential and I am watching the news like a hawk. GO RV!
[VIZIOIRAQI] [Francie26 ]Adam, you once said that Iraq could not defend itself until it is out of Ch. 7 because it can’t use nuclear weapons until then. I have been haunted by that idea ever since I read it, and my question, admittedly a bit late, is this–after all the American lives given to free Iraq, and given the wild fluctuations in the governments surrounding that country, do you foresee any possibility that we might go back into Iraq to protect their new democracy while they are still under Ch. 7, especially given Maliki’s jerk-arounds and friendliness with Iran?
Also do the events at our U.S. Embassy in Cairo and the U.S. Consulate in Benghazi threaten the fledgling democracy in Baghdad in any way? And last, do any of these events or circumstances impact the timing of a possible RV in Iraq?
[Adam Montana] Hi Francie, I appreciate your question(s). I do not see the US going back to Iraq – they have come too far and that would be akin to pushing a baby bird out of hte next and then grabbing it right before it flys.
Maliki’s “friendliness with Iran” – I don’t give it much weight. If I lived next to someone like Iran, I’d act like I liked them too. And to sum it up, do any of these things have an effect on the timing? Nope – I think the timing is a result of the path taken to those things.
[VIZIOIRAQI] [eburt] Hello Adam – Again thanks for all that you do. I have been silence for a while now but can’t help notice ALL the articles that are coming out lately regarding Shabbi and the Central Bank along with other articles that deals with Maliki. Is there some truth to those articles?
If so, will these events causes more delays in the Dinar? It seems like every week there are different situations and/or issues with Iraq that is holding up the RV.
[Adam Montana] The articles, if you are referring to the situations I discussed above, are indeed true and we are in for a fun week or two!
[Adam Montana] I understand that a lot of people – myself included – can grow weary of the constant delays, the never-ending set backs, the missed dates, the… well, all of it.
But I think it’s important to remember that as long as Iraq is going forward and the money is gaining value (which it IS, albeit not as much as we want YET!)… as long as the country is moving in that direction, then it’s just a waiting game and the best thing to do is keep a level head, take deep breaths, and stay sane. This thing is going to play out the same no matter how emotional you do or don’t get, so just enjoy the ride
[Adam Montana] ok everyone, that was it for this week! I hope you enjoyed the chat, I enjoyed doing it – it’s going to be an exciting news week in the Iraqi Dinar. Make sure your email is correct at this link: http://iqd.me/l/email because I will send notices on any important updates.
[Adam Montana] Best regards, and GO RVVVV!!!!!