Topic: Adam”s official chat Wednesday Dec 5 2012
10:03 AM [Adam Montana] I think I can sum things up a bit quicker than usual – so I’ll dive right in There are three items to mention on the “state of the dinar”
1. Right now it is 7:06 PM in Iraq. Tomorrow, Thursday, Ki-moon will be in Baghdad and it appears there is a heavy emphasis on Chapter 7
Ki-moon will meet with Talabani and Maliki…. this is a ONE DAY visit, which basically means there isn’t a lot of negotiating, strategizing, or anything else going on – it’s a “Hi how ya doing? Can we sign this thing yet? GREAT!” type of meeting. (Or it’s a “No, we need another week to get Erbil wrapped up…. either way, things are going the right way!)
2. Changing the currency, deleting the zeros, raising the value, etc. We are seeing a few opposing articles – some say that they plan to swap out the currency in January, others say that’s not going to happen. Here is why:
The bank has been a supporter of simply removing the zeros. They feel they have inflation and volume of currency under control. Removing the 0’s without changing the value is a straight bunny-ear – no value is gained, no value is lost, but what IS lost is two things: The money it takes to needlessly reprint currency, and the potential to recapture lost wealth.
I’m certain that Shabibi’s actions (putting a l0p ahead of an RV) had a lot to do with him being removed. Now that he is not able to stick his nose directly in the business, I would like to see Maliki move forward at an accelerated pace to raise the value significantly.
(If Shabs comes back after the value is raised and is put in charge of maintaining the stability of the new rate, I’m sure he will do a good job. :twothumbs: ) and finally,
3. The announcement of AsiaCell coming onto the ISX there is a LOT of speculation on AsiaCell – does it signify an RV, does it have anything to do with the RV at all? I say no
10:14 AM [Adam Montana] but it IS a good indicator that things are STILL going the right direction. Cellular communications has always been one of the things I am keeping on my radar for future investments in Iraq – they don’t have the kind of infrastructure there that most 1st world countries have, and after the RV they will be moving forward QUICKLY with improvements in that area…. those Iraqis are going to want their smartphones to work and work well! 😆
10:15 AM [Adam Montana] but I do need to put out a word of advice. When you choose to do business with Iraq, whether it is through a broker, a bank, or just cash dinar – we do not have any kind of protection. We are playing with their money, and sending them our money, on the hopes that they honor their promises and don’t run with our money.
10:16 AM [Adam Montana] However you decide to invest, do so cautiously and do your due diligence, and don’t invest any more than you are able to lose without hurting yourself. We’ve been watching this investment for 10 years now, and although it really looks like things are wrapping up at an accelerated pace… there’s no law that says it can’t go another 10.
(I’m not saying I think it WILL go another 10! I’m just saying anything is possible 🙂 )
10:17 AM [Adam Montana] ok, that’s my update. I’m not giving any dates or rates, I leave that privilege for the other sites.
10:18 AM [Adam Montana] wait, one last thing …. Vizio just mentioned behind the scenes that a warrant was also issued for Saleh Saleh has recently been mimmicking what Shabibi was saying before his warrant was issued so it is very easy to see that the GOI (Maliki personally?) may be issuing warrants and warnings to everyone opposing an RV – pipe down or face consequences. :twocents:
10:19 AM [Adam Montana] ok, questions!
10:19 AM [kcw] dontlop do ya think 10 years is enough to figure out whats going on with the dinar ,or is it still speculation?
10:20 AM [Adam Montana] I’ve been here long enough to know that I still like our chances… but it is still speculation, and it always will be until the end. (Win or Lose)
10:20 AM [kcw] waitingondinar Adam, I read one article that stated the new year will see the introduction of a new currency and in the same article I read the following: The Rapporteur of the Committee, said in an interview for mohama Khalil “twilight news” “the new year will see the restructuring of the Iraqi currency, delete the three zeros, and therefore will not witness the birth of a new Iraqi currency because of the refusal of the Government to this project”,
stating that “the Government considers that this is not a priority.” Also, do you think Erbil is the only holdup at this point or are they truly making progress in that regard. With only 3 1/2 weeks left until the end of the year, do your still think the RV is just about here? Thanks
10:20 AM [Adam Montana] Erbil, Chapter 7, HCL.
10:21 AM [Adam Montana] The rest of the opinions and posturing and “dates” that they release are just noise. I look at the facts and the actual progress. They can say whatever they want – maybe they say it to get people to buy dinar, maybe they say it to get people to sell, maybe they are playing political games… what are the facts?
] Iraq has made significant progress, is millimeters away from being released from Chapter 7, and would benefit from a raise in the value of their currency. :twocents:
10:22 AM [Adam Montana] next please!
10:22 AM [kcw] vanilla wafer Hello Adam: I have been part of the dinar family for about seven – eight years and I follow everything you post very carefully. I realize you say a lot without committing yourself to anything – smart on your part.
Your Thursday post last week was exciting and very encouraging and the information about the banks with de la ru machines and making sure your contact information was great because it gave me the feeling that we are close.
With all that being said, do you foresee an RV by the end of the year or do you feel we will have to wait unti the first of the year? A huge THANK YOU to you and the rest of the team for all the hard work that’s put into providing us information and keeping us up on the latest. Vanilla Wafer –
10:22 AM [Adam Montana] Hey Vanilla, thanks for your support and the positive words. It is a pleasure to have you in the group! I am still not giving a date. 😆
10:23 AM [kcw] Candy01 Adam, Do you think Iraq will be released from Chapter 7 this month?? Please say YES!!
10:23 AM [Adam Montana] GREAT question. I hope to have a better grasp on the answer after we get reports on Ki-moon’s meeting with Talabani and Maliki tomorrow
10:23 AM [kcw] rightsonword We can only assume that the listing of AsiaCell on the ISX will create more trading and bring more money into the ISX(hopefully raising the price of other stocks). Do you see any significance on the currency side of things considering the listing of AsiaCell… ?
10:24 AM [Adam Montana] I really don’t. Being invested in the ISX should be a great place to be when the RV is announced, but I don’t think they are significantly intertwined other than that.
10:24 AM [kcw] Tico Factoring in that Thomas De La Rue makes currency for many countries, it would be safe to assume those countries would have the machines to authenticate subject currencies. Can we or I simply take Dinar to any of the countries posted at Thomas De La Rue website and consider cashing in that way? Thanks a bunch always for your help and support
10:26 AM [Adam Montana] That’s a tough question to answer. The De La Rue machine will likely be the #1 way that banks verify authenticity, but that doesn’t mean every bank with a machine will be cashing it in. I have a list of banks that currently have these machines, and after the RV I will be emailing the VIP members with the details on which banks are giving what rates and whatnot… but again, just because a bank or country has the machines doesn’t mean they will give you the best rate or even cash you out at all!
10:27 AM [kcw] ReneB Hi Adam, thanks for all your hard work…………..My desktop widget says VND is now 1.00 USD = 2.085 VND. What is up with that? Is this true? Thanks Adam…….waiting for Dinar RV….and VND…..
10:27 AM [Adam Montana] I think your widget is wacky – the VND is not at that rate at this time
10:27 AM [kcw] Polishfloridian Thanks for all you do Adam…… What benefits would the Iraqi people receive if the dinar were to RV? What benefits if were to bunny-ear? What may be the negatives to the Iraqi people of either possibility? Art
10:28 AM [Adam Montana] Hey Art – I actually wrote a 56 page eBook on this exact subject, and I answered that and a lot more questions you might have. As a member of DinarVets.com, you can get it for 80% off – check in the “Announcements” section.
10:29 AM [kcw] waitingondinar Adam, I read some additional articles posted in the forums. Some of the articles are titled as follows: Central BAnk: the dinar became strong and more like hard currency,
A member of the parliamentary economic: Can not promote infrastructure of the national economy without investment Date: 12/04/2012 08:25:32 Tuesday, Make final recommendations to keep the ration card next Thursday 12/04/2012 1:15 am, Talabani will ask the National Alliance change Maliki upon his return to Baghdad Monday, 03 January 1 / December 2012 17:32
The last heading looks like they are still going after Malaki for replacing him. So many of these listed tasks just keep appearing every day. Could this keep the RV from happening for awhile as new “tasks for completion” keep popping up every day? Thank you
10:31 AM [Adam Montana] I’m going to skip right to the last part – “going after Maliki”. This was a hot subject a few years back, and then when Allawi and Maliki were competing for the top spot. It was mentioned here and there that Talabani might have it out for Maliki, Shabibi would do this or that… Maliki has come out on top every time, and Talabani actually works WITH Maliki on a lot that just gets ignored. I don’t have any concerns about Maliki.
10:31 AM [kcw] MD34 Hi there, We all know what many possible things can derail the currency appreciation for Iraq (too endless to mention) My question is WHAT THING(S) if ANYTHING could NOT make the value of the Dinar jump up? ie Does Iraq have a ‘Magic Card’ they can play? Thanks in advance.
10:31 AM [Adam Montana] I don’t think there is a Magic Card.
10:32 AM [Adam Montana] The revaluing of a currency is not an overnight thing, never was. It’s not something that will be done arbitrarily – it will be well planned, fully supported, and will not happen until everything is in the right place.
10:32 AM [kcw] Jannet Adam, I know we are all waiting on that MAGIC moment. My question is: Will Iraq have the resources to pay for the RV. Say it RV’s at $1.00 per dinar and I’m holding $4 million dinar, are they able to pay the $4 million in us dollars? And since I am only a drop in the bucket compared to the rest of the dinar holders, how will they be able to with stand the influx of large amounts of dinar? Thanks so much to you and your staff. Julie has been the best person at answering my questions.
10:34 AM [Adam Montana] Hi Jannet, that’s a good question! The thing to keep in mind is that they won’t be handing over “CASH” to you – the funds would go into an account in digital form. Look at the US for example – we don’t actually have “cash” or even GOLD to cover our debt, or even all of the accumulative dollars in everyone’s account. So if we don’t have the “cash” to cover that wealth, how is it there?
10:35 AM [Adam Montana] It’s a figment of the world’s imagination, made real by everyone MAKING it real. Our debt is secured by our credit, not by gold. (Credit which is getting worse and worse, but I digress…)
10:36 AM [Adam Montana] Iraq is in kind of the same situation. If they RV to $1, they aren’t going to pay out in cash – they are going to pay out with their credit. They will back their credit by a rising and stable economy, future profits to be made on their growth, and also, of course – OIL.
10:36 AM [Adam Montana] Hope that clears it up, and sorry I got off on a tangent about the decline of the US credit and that whole situation.
10:37 AM [kcw] vietnam1969 Hello Adam, staff and fellow members. Since watching Wisconsin beat the h-e-l-l out of Nebraska Saturday night, I only have one question for you at this time. Where is all of the squeaky cheese I have heard about up there? Are you keeping it to yourselves? Was told that it is very good to squeak on Thanks for all you do for us!!!!
10:37 AM [Adam Montana] *Teach me how to Bucky!*
10:37 AM [Adam Montana] Squeaky cheese! Take a look at marscheese.com
10:38 AM [Adam Montana] Go to Cheeses > Cheese Curds
10:38 AM [Adam Montana] when you get them, microwave them for just a few seconds… squeek away
10:38 AM [kcw] EC429 Adam, Will our VIP codes also include VND? Adam, Maybe this is posted and I have missed it but can you please tell us how to peoperly check out a bank. I am considering BYN Mellon because they appear to be international but there is not much information on their website.
10:39 AM [Adam Montana] I can’t promise on the VND because it depends on the rate. If the VND doesn’t appreciate significantly, then no banks will be giving us any better rate. Same goes for the Dinar of course
10:40 AM [Adam Montana] but if they DO appreciate significantly, then there is a possibility DEPENDING on the volume at which the VIP members commit to using the specific banks we have agreements with
10:40 AM [Adam Montana] the Dinar is much easier, since we are A- expecting a much higher rate of return and B- We know you all have Dinar! I don’t know how many of you also have VND.
10:40 AM [kcw] vietnam1969 If Talabani is successful in having Maliki demoted or released from his current position, do you think Talibani will step in and be the man in charge or do you think he will appoint someone else to fill Maliki’s shoes? I know this sounds a little far fetched but so does a lot of things coming out of Iraq. Thanks again for your guidance and leadership here in Dinar Vets and the other sites.
10:41 AM [Adam Montana] hey vietnam. First, I don’t think it will happen. But IF it did, I would see him appointing someone else, rather than taking that responsibility on his own shoulders.
10:41 AM [kcw] Luigi1 Here’s a real tough question… All these IQD & VND rates showing up on the screens in HK & the EU…could that be nation to nation currency trades, after hours trading & the elite like the Soros’ of the world cashing in. If so, is there a two tier cash out. A special rate between nations & the elite then a bunny-ear for the rest of us. That is my worst fear, a rigged game like Wall Street. The small investor always get the short end of the stick.
10:43 AM [Adam Montana] Luigi1, I understand the concern… but I don’t think it will happen that way at all. There are too many individuals with huge power that are in situations similar to us – we aren’t a “government”, we are individuals. The political backlash from a “tiered” structure that had significant advantages for entities over individuals would be almost incomprehendable
10:43 AM [kcw] Noni Recently, someone posted that we could cash in the dinars in another currency…canada, australia…Wells Fargo Bank was mentioned to get a debit card and when you withdraw money from the account, you get the currency of the country you are in:) I’m not certain of the post and I hope you are familiar with it. Is there any truth in that? Thank you so much for everything:)
10:44 AM [Adam Montana] Hey Noni, I’ll be honest – I don’t know which post you are talking about…. but it sounds a bit goofy to me. People are always posting odd cash out myths and half-truths, some based on lies and others on simple misunderstandings.
10:46 AM [kcw] jon29 Good morning Adam! Christmas is on the way and I MUST send something to corporate to avoid the rush! I’m yankin’ hair, furrowin’ the brow, and whittling down nails with teeth trying to decide!!
With full respect of your business sense, savvy, and professional protocol, could you tell me a best pick from the list so’s I’ll not look like a ‘suck up’, but still raise an eyebrow with a nod of approval?? Thanks!…and here it is: choice A. Portland wine/Portland brie (‘made in Oregon’ store), B. Starbuck’s gift certificate/Santa-land Cd, C. Holiday nut roll/fruit fun wreath, D. Chia gnome, that’s it, just gnome. Thanks a bunch and ~~Happy Holidays!!~~
10:46 AM [Adam Montana] What’s wrong with fruitcakes? Aren’t there any traditionalists out there anymore?!
10:46 AM [kcw] SPOTLIGHT Whats up Adam my question to you is are mentally exchausted being ask when will the rv happen,There is not ONE PERSON HERE WHO KNOWS. Adam if you was to open a business would have been better to start Jan 2012 rather than Jan2013 due to the tax hike?
10:47 AM [Adam Montana] Thanks for the question spotlight. I try not to spend time thinking about things like that – you can’t go back to 2012 to start a business, so the real question is “Should I start a business in spite of the new tax hikes?”
10:48 AM [Adam Montana] That can only be answered by you – can you make it profitable in spite of the hikes, is it worth your time, and what other options do you have?
10:50 AM [Adam Montana] Annnnnnnnnnnd that was the last one! Thank you all for the questions, let’s hope we have some good reports from the ki-moon meeting tomorrow, and of course – GOOOOOOOO RVVVVVVVVVVV!!!!!!!!!