_[kcw] steveflex7 Thanks for all you do Adam, the big question....where do you think we stand in this investment, good bad or ugly ?
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[Adam Montana] steve, thanks for the question. I love where we are right now. Love it, love it, love it.
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[kcw] sxsess Hi Adam in your opinion, do you think to longer Shabbabi waits to RV their currency will or could this damage the stability of the country to the eventual point of total collapse? Also could this undermine the world's confidence to reduce loans and investments into Iraq? I appreciate and respect your knowledge. Thanks .
[Adam Montana] Absolutely yes, and Shabibi knows it. The longer they delay, the worse they are in the big picture
[Adam Montana] right now is a PERFECT time to get this ball rolling - the country has made amazing progress, they are in position to really take control of their situation and their future
[Adam Montana] that's the key - they need to TAKE CONTROL.
[Adam Montana]
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[kcw] adlon Simple Question: In your opinion, yes or no: Will there be a "positive RV" within the next 180 days. "Positive RV" means ten cents or more as you have tentatively projected in the past.
. [Adam Montana] Yes.
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[kcw] Beachwalker How much do you feel that we (as well as the Iraqi citizens) are at the mercy of Maliki, Allawi, and the fragmented Parliament to act on matters that will benefit the citizens of their own country? Are we totally at their mercy or are there, as some allude to, substantial outside pressures from international big money interests that can move this forward in spite of the cadre of morons internal to Iraq?
. [Adam Montana] Beachwalker, good question
[Adam Montana] I'll try to answer as concisely as possible
[Adam Montana] first, nobody is going to force Iraq to change the value of their currency
[Adam Montana] second, Iraq cannot do it without the support of the UN, IMF, etc
[Adam Montana] a change like this has to be a team effort
[Adam Montana] so the question then becomes, who is holding it up? Or not agreeing?
[Adam Montana] Kuwait is the only variable in this that does not support an immediate RV
[Adam Montana] but Kuwait doesn't have the pull they used to
[Adam Montana] the IMF and Iraq have agreed on the 2012 budget
[Adam Montana] and in my opinion that means they have agreed across the board - meaning the "public" budget and also the "secondary" budget
[Adam Montana] HCL is being discussed, Iraq is ready to boost production of oil by 900,000 barrels per day, and Chapter 7 could easily be lifted by the end of the day
[Adam Montana] well, not "easily" - but that doesn't change the fact that it CAN be done
[Adam Montana] I know a lot of naysayers will disagree on that, but I stand firm on it
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[kcw] LDJ Adam, Happy New Year and thanks for all your efforts. This is assuming nothing takes place prior to 1-4-2012 of course My Question is Do you think the that we can get the IMF to apply pressure to nudge the RV along, since US is 70% of fund? Hopefully I have that right.
. [Adam Montana] Happy New year to you too! The IMF won't "nudge" Iraq
[Adam Montana] Iraq has to take control of their situation and make a firm commitment to maintaining the stability of their currency AND COUNTRY in order to RV
[Adam Montana] once they do that, the IMF isn't going to stop them from raising the value of their currency - they have no reason to
[Adam Montana] and once they are prepared to take control, they have no reason to not RV immediately.
[Adam Montana] I see that as a very near event
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[kcw] Russell M Happy New Year Adam! - My question is this: Should I keep on buying dinar until they hit or just sit on my original "affordable" investment.... why do I ask this? Because I USED to be a MIDDLE CLASS FAMILY, but since the Last Election (and everything that has happened since) I am struggling and thought that MAYBE getting $30 to $50 more now and then till it hits might pull me out WHEN the RV occurs which IMO isn't right away.... Sorry if I run on too long, and thanks for your "up the middle" philosophy.
. [Adam Montana] Ok, this question gets the same answer no matter how rich or poor you are, no matter how much dinar you do or don't have...
[Adam Montana] This is a SPECULATIVE investment, there are no guarantees, and you should never buy more than you can afford to LOSE
[Adam Montana] end of story
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[kcw] Steelers Fan Hi Adam.. Happy New Year!! My question is .. In order to be a sovereign nation.. doesn't Iraq have to have currency tradeable in the world market? .
[Adam Montana] Nope! They can do whatever they want with their currency
[Adam Montana] in order to be sovereign, they need to be released from ALL UN sanctions.
[Adam Montana] there are only a few remaining sanctions, and those could technically be released with or without any change in the currency
[Adam Montana] goodquestion!
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[kcw] Russell M Hi Adam, this is kind of like a tax question: If I bought Iraqi Dinar while they were not an international currency, why should I pay taxes on them as profiting. If we were in a "window" why doesn't the "window" protect us from this..Help me understand. Thanks!!
. [Adam Montana] I don't mind the tax questions, but I'm ot a tax adviser
[Adam Montana] However... Uncle Sam doesn't care how you made the money or where your car was parked when you cash in
[Adam Montana] if you find a $20 bill on the ground, you are actually supposed to claim that on your tax returns
[Adam Montana] if that doesn't put it in perspective, I don't know what will!
[Adam Montana] the only way you can really get out of being taxed however they want to tax you as a citizen is to become a citizen of a country that doesn't tax you that way
[Adam Montana] we have tons of info on that in the VIP section, and you do NOT have to give up your citizenship or risk any kind of legal issues
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[kcw] grand pubah In light of the recent violence and instability in Iraq that has come forward since the troop withdrawal it doesn't look like the environment for an RV is likely at this time due to the political instability being witnessed by the world community. Of course anything is possible but it seems that the resolutions necessary for the RV to move forward are being blocked intentionally by those in power due to personal agenda and prejudice and ulterior motives. I don't want to put you in an undesirable position here on a public forum but my feelings about a close RV are not as good as they were a couple of weeks ago. Do you agree or disagree and if so why? Thanks bunches and best of wishes
. [Adam Montana] Part of me wonders exactly how much MORE violence there is right now than there was 3 months ago
[Adam Montana] are the reporters and news stations being consistent, where do their biases lie?
[Adam Montana] regardless, I'm not seeing a SIGNIFICANT increase, in fact... it appears exactly how I thought it would go
[Adam Montana] as I mentioned earlier, Iraq is in a position to completely TAKE CONTROL of the situation. Once they do that, they have every green light to RV immediately
[Adam Montana] keep in mind that after they RV, there will probably be another surge in violence as the dust settles
[Adam Montana] so we may very well see the Dinar RV at a dollar, then quickly dip to 50 cents or less as the world hears about that surge
[Adam Montana] but again, as Iraq TAKES CONTROL of their situation things will once again stabilize and the value should quickly go back up
[Adam Montana] it's all about control and stability. Iraq is in a position to maintain control of their situation, so I have a positive outlook for our near future.
[Adam Montana]
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[kcw] redchevrolet When they say "Raise the zero's" are they talking about the ooo bills or removing the zero's from the rate .00085? Thank you for all that you do. eaglefan Adam - Thanks for your hard work for this site. Greatly appreciated. Considering the fact that the UN had decided not to lift Chapter 7 sanctions and is not going to revisit this issue until June, do you think that Iraq needs to be out of Chapter 7 to RV? Thanks in advance.
. [Adam Montana] First the Chapter 7 issue - they don't have to wait till June to revisit this, and I see no reason to put it out that far.
[Adam Montana] I could be wrong, but I don't see it happening.
[Adam Montana] regarding "raising the 0s"
[Adam Montana] if they are going to RV tomorrow, and they are going to "raise the 0's" from the exchange rate, they will NEVER tell the public that!
[Adam Montana] So any time you hear "raise the 0's" they are referring to removing them from the currency
[Adam Montana] of course, the next article you read will likely be one about "strengthening the dinar" - which is contradictory to "raising the 0's" (a 0 gain move)
[Adam Montana] finally, most of the "raise the 0's" articles are google translations... be very careful of what you take from those articles
[Adam Montana] translations are sketchy at best, and not reliable at all
[Adam Montana] when there is big news, it is written in arabic and english - you don't have to rely on arabic articles for the big news we are waiting for
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[kcw] GinaG I recall the RV was put on hold, due to the ISX just was not supporting the RV. What shape do you think the ISX is now? and will it support the RV today? Thank you for your time. .
[Adam Montana] The ISX is in good shape!
[Adam Montana] check this site:
http://isx-iq.net [Adam Montana] that site lists stocks and other great information on the ISX
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[kcw] cricket10 Happy New Year Adam! My observations for the past couple of days, have seemed to be somewhat positive. The threats and talk of ousting Maliki, seems to have put a fire under him, and he seems to be rushing to get things done, for a change. Do you agree with this? I also feel the RV is not that far down the road. In your opinion, do you feel about the same?
. [Adam Montana] I agree. Thanks for the comment and the question.
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[kcw] AirForce17 Adam, Thanks for keeping us informed so well about the RV. I did not like the pulling out of all the troops and I know the turmoil since was expected once it happened, however, I feel that in order for Iraq to get the ball rolling, this actually could speed up the process of lifting the Ch7 and anything else holding up the RV. Now the government must move more speedily to get Iraq active to compete in the world market. Your thoughts! It will just teach us a little more patience and that we are not in control of anything in Iraq, only Iraq.
. [Adam Montana] I agree!
[Adam Montana] I know you asked for my thoughts, but you spelled it out so good all I can do is repeat you
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[kcw] winterset There was alot of questions about how the auctions affect the dinar thats in circulation, could you help explain this process? Also, do you think the ld's are truely necessary at the time of an RV or will there need to be usd in play? (Since the current usage is already the demand, $.50 usd coke vs 600 dinar coke) I can see where Shabibi needs usd to make a smooth transition. Hope your Holidays were fantastic!!!!!!
. [Adam Montana] The CBI uses the auctions to control the currency - that's the whole story
[Adam Montana] regarding the ld (I assume you mean lower denominations)
[Adam Montana] They don't have to have them ready for the RV. Since the USD is used so much over there, they can easily substitute USD when making change on a normal purchase
[Adam Montana] any large transactions will be entered into an account in the form of digital money - the Iraqi's won't be walking into the bank with 100k dinar and walking out with a million $20 bills
[Adam Montana] I strongly believe the IQD will be pegged to the USD in some manner
[Adam Montana] so just like when you go to Belize, you can buy anything anywhere with either USD or BZD (Belize Dollar), and they give you your change in either USD or BZD.
[Adam Montana] since it's pegged to the dollar, they really have no preference
[Adam Montana] good question!
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[kcw] coorslite21 Long term Iraq.......will it remain as one sovereign nation???....or will it be fractured into 3 independent states governed independently by the 3 religious factions…if the later….would the Kurds have the best chance at success? Thanks!
. [Adam Montana] I understand your point
[Adam Montana] and it's even logical to consider that possibility
[Adam Montana] but in my opinion they are stronger as a whole
[Adam Montana] if anything, the Kurds might try to break apart and go their own way. Kurdistan holds a ton of the resources
[Adam Montana] but although they bicker like little schoolkids, they are wise enough to know they are stronger as a whole
[Adam Montana] so in my opinion - the country will stay intact
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[kcw] wealthhound Adam, I trust you had and awesome holiday with family and friends, we have missed you! I have a general question/thought.Am I correct in remembering that in a chat several months ago you mentioned that there is a timeframe or window for the RV to happen?? Thanks
. [Adam Montana] Thanks for the nice words, and yes I did have a great holiday!
[Adam Montana] the only "window" I see is NOW, as in the very near future... or an endless window. If they act NOW, they are in great position!
[Adam Montana] If they choose to stall forever... well, they COULD do that, but I don't see why they would
[Adam Montana] regardless, I want to clarify that I didn't state they MUST RV within any particular window
[Adam Montana] if they want to put it off for a few more years, they have the ability to make that foolish decision
[Adam Montana] again - I don't see why they would, but that doesn't negate the fact that they CAN.
[Adam Montana]
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[kcw] jaman hi Adam ,with the implementation of a smart card, why do they need the lower notes ,coins ? and anything to add about the VND.......and Happy New year, and wooo GO..RV .
[Adam Montana] smart cards: YES! These will greatly assist in the transactions after the RV!
[Adam Montana] eventually they will need to get those lower denoms out there, but like I said a minute ago
[Adam Montana] if they peg to the dollar in some way, they can easily use USD to make change for smaller transactions
[Adam Montana] so the lower denominations and coins are not a deciding factor
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[kcw] dafloman Hi Adam Thanks For all you do I was wondering do you know about the tax law about taking our dinar across the state lines. I had someone tell me that if i went from my state of MA to NY to cash in at a bank that they could first off take the dinar from me and i would be open up to be fined also. So i googled it and saw that if i was taking more than $ 10,000.00 worth of dinar across state lines i had to declare it to that state and i could be responsible to pay taxes to that state. if that is true i would have to pay tax to CT and NY to cross the state lines. Can you help me with your wisdom. I am a Platinum member just so you know i may have options within our site.
. [Adam Montana] I have never heard of anything like that, and I researched it more this morning - I found nothing to back that up
[Adam Montana] When you leave the country, you are supposed to declare anything over 10k... but that doesn't apply to someone crossing from one US State to another US State
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[kcw] HisHands Thank you for all you do for us Adam. I see that Malika had a day of celebration stating that Iraq is now a sovereign nation. I thought that they had to be fully released from all Chapter 7 sanctions for this to be true. Am I wrong in thinking this? We have heard this over and over from several people. Just has me a little confused.
. [Adam Montana] He keeps saying that, and it's partially true... but they are not FULLY sovereign
[Adam Montana] when they are FULLY sovereign you will see it here:
http://un.org [Adam Montana] next please
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[kcw] geman Hi Adam and Happy New Year, would it be possible or has it happened with our three millionaires being able to cash there dinar in under the table and then never rving for the middle of the packers. Just a thought with all the corruption in government. thank you for your time.
. [Adam Montana] I don't see it happening
[Adam Montana] so I'm going to say no
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[kcw] andy3978 Who is truly in control of a rate adjustment? We've heard it's the CBI, UN, BIS, IMF, Obama, etc ...who is truly the master of this event?
. [Adam Montana] sorry everyone, that is a duplicate of an earlier question
[Adam Montana] or I already answered it in response to a similar question
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[kcw] 429 O.K. Adam. So what exactly is a "Packer?" (For those of you that think I'm being silly, get your minds out of the gutter.) Most of the teams are named after birds and animals. We have the stray mythologic figure (Giants, Titans), Priates (Raiders and Buccaneers) and Historical figures like Vikings, Texans, Cowboys, Chiefs, Redskins, Patriots and '49-ers. The Steelers are from Steel-town, USA. So this leaves us the Browns and the Packers. What the heck is a Packer? Meat-packing industry? Fish-packing? Just want to see if there's any logic inside dem, dere cheese-heads, doan-cha-know, you-betcha. On another note, my wife got the Green Bay Packer Stock share that she asked for for Christmas. I told her I'd rather spend the $250 on more dinars but she responded that no matter what the RV comes in at, she'll still own $250-worth of the Green Bay Packers. (I hate the Packers. Go Bears. Well next year, anyway.)
. [Adam Montana] Hey good for you, buying Packer stock! We are both part owners of dem der boys now
[Adam Montana] did you really just ask me why they are called the packers? I did a google search this morning and typed in "Why are the packers" - google suggested "Why are the Packers so good?"
[Adam Montana] Curly Lambeaugh talked his boss into paying for the jerseys in 1919
[Adam Montana] Indian Packing Company agreed, as long as he named the team after the company
[Adam Montana] so, there you have it
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[kcw] DinarDaddy83 Hi Adam, if the CBI holds a currency auction does that mean the RV cannot happen that day?
. [Adam Montana] no, that's not true
[Adam Montana] one would assume there would be no auction... but they can hold an auction and then RV on the same day
[Adam Montana] there is no rule stating otherwise
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[kcw] Ateam Adam thanks again, is there any truth to what Ranadlin (Spelling?) rumor post is that his friend heard there is a rate change or something coming anytime in a day or so. I do not believe it at all but you would know more than us. So again, any truth to that?
. [Adam Montana] I hope it's true, but at this time it's still a rumor
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[kcw] J.F. Did Kuwait RV or RI? and was it as confusing as the situation is in Iraq now?
. [Adam Montana] Kuwait did neither
[Adam Montana] there was a time when the perceived value dropped to very low.
[Adam Montana] those that were willing to buy it did so at a greatly reduced rate
[Adam Montana] obviously the rest is history
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[kcw] sourpuss Hello Adam! What is the update and where are we at on the HCL? has it been read once or twice? does it need 3 readings then posted in gazette?
. [Adam Montana] It's been read once, does not HAVE to be read 3 times, but it needs to be published in the Gazette to become official
[Adam Montana] sorry
[Adam Montana] the official draft is approved
[Adam Montana] submitted, has a bow on it, all that
[Adam Montana] they can publish it in the gazette tomorrow if they want
[Adam Montana] let's hope they do!
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kcw] andy3978 Adam, there's been quite a buzz from folks about a cash in in Iraq already. Sounds like an in-country RV from the stories. The folks posting have been historically negative so this is interesting. Have you anything on your end as of late?
. [Adam Montana] It's not happening
[Adam Montana] when people are cashing in, I will be the first to tell you!
[Adam Montana] That was the last one I guess!
[Adam Montana] I have to say, the first chat of the year went great. I am looking forward to VERY FEW more of these chats!
[Adam Montana] Happy New Year everyone!
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