9:58 AM [Adam Montana] This certainly has been an exciting week for both rumors AND news! First a few news points
9:59 AM [Adam Montana] the budget is always a major deal with Iraq – every single year we see at least a couple delays before it is actually passed.
9:59 AM [Adam Montana] During that time, there is so much confusion it’s mind boggling. When are they going to pass it, are they meeting this week, next, did they meet today?!
10:00 AM [Adam Montana] Also, since many of the actual “press releases” are released in arabic and then translated, some context always gets jumbled.
10:01 AM [Adam Montana] The current situation right now is that they have reached the end of the normal delays and I’m expecting a final announcement shortly
10:01 AM [Adam Montana] the next news is that Attorney Al-Shara has announced the intention to move on the Oil and Gas law (that’s HCL, my friends!) after the budget is officially approved.
10:02 AM [Adam Montana] They won’t delay on this budget forever, it will be done soon. They have already made I would guess 98% of their preliminary HCL decisions, so that will be done soon as well.
10:02 AM [Adam Montana] Those two items, combined with quite a few other things floating around, have indeed got some of us very excited!
10:03 AM [Adam Montana] But as always… this is Iraq. Don’t get too crazy about any date that anyone gives you – things look excellent for this month, but AGAIN – this. is. Iraq. :twocents:
10:04 AM [Adam Montana] Only a few questions this week.
10:04 AM [Adam Montana] TG, ready when you are
10:05 AM [TexasGranny] Candy01 Hello Adam,There is much talk and speculation regarding their 2013 budget. Does this HAVE to be passed in order for the RV to happen? Thanks Much!
10:06 AM [Adam Montana] The budget seems to get a lot of attention, but it is NOT mandatory that it be done before the HCL or after Chapter 7 or in any other specific order. It makes the most sense to do it in this order: budget, HCL, Chapter 7, then RV – but there is NO LAW that states it must be done in that order
10:08 AM [Adam Montana] I would be comfortable placing a wager that “a” budget will be released before the RV is announced, but also keep in mind that as soon as the dinar changes value, a new budget would be adopted almost immediately. It’s my opinion that they have TWO budgets in the making – one for immediate release and another based on the anticipated RATE of the future dinar.
10:08 AM [Adam Montana] What that rate will be is anyone’s guess, but that’s another topic :twothumbs:
10:08 AM [Adam Montana] next please!
10:08 AM [TexasGranny] Luigi1 Here’s a tough question… After RV & C7 are lifted, the USA & UK should release Iraqi monies frozen from the Sadam sanctions days. More than likely those are mostly older Sadam Bills. Will those bills also be honored at newer RV values once they are handed over to Iraq? This new source of wealth could help feed the the value of the RV IQD.
10:09 AM [Adam Montana] Iraq said many years ago that those bills are no longer any good – they aren’t going to go back on that. Whatever Saddam bills anyone has, governments included, are basically worthless.
10:09 AM [Adam Montana] next please!
10:09 AM [TexasGranny] Chartman17 Good morning Adam! Since I am on the left coast of the U.S.A. and Iraq is about 12 hours ahead, do you think my phone call will come in the middle of the night or will I be able to wake up, have a cup of coffee, read the paper, etc. before I get the phone call? Or, are we “on” 24-7?
10:10 AM [Adam Montana] I think you’re trying to trick me into giving you some kind of date, so I’m going to just say you should have your phone on at all times. :tiphat:
10:10 AM [Adam Montana] next please!
10:10 AM [TexasGranny] RobLe Hi Adam, I was wondering about the elections that are to happen in Iraq in April. If these term limits do go in effect, doesn’t that mean that Maliki will not be able to run?
10:11 AM [Adam Montana] That’s a great question RobLe. I did some quick research this morning to try to verify my thoughts, but most of the information is obscure… I’ll put it this way:
10:12 AM [Adam Montana] I have as much faith in Maliki to honor a “term limit” as I do Obama to uphold the Constitution. If there is one thing we know about politicians, it’s that they will manipulate the system in any way they can to acheive their goals. :twocents:
10:12 AM [Adam Montana] next please!
10:12 AM [TexasGranny] OnTheHorizon Adam, Just wanted to know after all of these years of waiting….is this something that you would do all over again?
10:14 AM [Adam Montana] That’s another good question! Over the years, I have learned about foreign countries, foreign policies, global politics, and more. I’ve had GOOD reason to educate myself in global investing, I took the Series 65 during some of my education that was directly related to the Dinar, and I’ve made contacts that I never would have sought out without this investment.
10:14 AM [Adam Montana] And also importantly – I’ve met some great people through this forum.
10:15 AM [Adam Montana] And at the end of the day, I still feel like I will not lose a penny that I invested into Dinar. Whether it ends up doubling over time or we see a huge increase – I think we all come out of this ahead (eventually!)
10:15 AM [Adam Montana] So, yes – I would do it again. :tiphat:
10:16 AM [Adam Montana] That was the last one for today. I’ve got my fingers on a couple pulses out here, and I’ll let you know the minute I know any big news. Until then, have a great week and I’ll talk to you next time