I thought I'd help out by answering some of the weekly questions myself.
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After crunching the Currency Auction Data, I come to the realization that Iraq is running on USD rather than IQD.
You're only looking at one side of the equation. Dinar are taken in via the auctions, and then put right back into circulation by the GOI buying them from the CBI and using them to pay salaries, local contracts, etc. There have been numerous people, even hardcore RVers, that have been in Iraq and say there are plenty of dinar on the streets. Anyone that tells you that there aren't is probably just lying, or at least is just repeating guru lies.
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What's up with Warka?
I've yet to see anyone even make the claim that they've managed to get a single dollar back out of them, so I'm guessing they're still jacked up. Will that change for the better soon? Who knows.
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I keep lookin' for some intel on the smaller denomination dinars and or coins that in my opinion must be implemented before a RV/RI...All I've heard was the gold coinage minting for dinar exchange only, my question, have you heard any documentation confirming that smaller dinars have been printed? * See comments at the bottom
You need small denoms for an RD also, so not sure why you think this would be RV related.
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Good Morning Adam,these items that Iraqs parliament are dealing with seem like ticky tacky items that could be dealt with at any time.what do you think is the REAL reason they don't push the RV button?Thanks Brother
Because they can't and there's no reason they could. Their currency is worth right about what it should be, which is painfully obvious once you admit to yourself the fact that they have many many trillions of dinar in circulation.
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Ask any 4 year old the best way to get someone to stop using one thing is to make the other thing more valuable. Iraqi's will never stop using the dollar as long as it's more valuable than the dinar
You're really mixed up. It isn't VALUE that makes a currency desirable (after all, their 25,000 note is already more valuable than our 20 dollar bill, so why would they want to use a 20 dollar bill?), it's STABILITY and CONFIDENCE that make a currency desirable. Massive increases in value don't lend confidence that the commodity or security is going to remain stable. If you had 10 ounces of gold and the price shot up to 1 million an ounce would you hold onto all of it because you're confident it will retain that value? HELL NO. You're gonna sell all of it the second you can because you'll be worried it's an unsustainable fluke and you'd lose your newfound million bucks if you held onto the gold.
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WHAT DO YOU THINK OF THE DONG PAID 21,800 NOW IT;S 21,114?
I'd say that a massive RV of the dong makes even less sense than the Dinar, but it's impossible to make less sense than zero, so I'll just say both make zero sense.
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MUST the budget be passed 45 days before the elections on April 30th? This would mean the budget would be passed by March 15th.
Who cares?
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Good job, FS4!
* One thing I'd like to add to this is that "Adam" told everybody in 2010 that the lower denominations had already been printed, according to his CBI source.
* One thing I'd like to add to this is that "Adam" told everybody in 2010 that the lower denominations had already been printed, according to his CBI source.
He never said much about this after the Iraqis started talking about printing the new currency with the Kurdish language on it. I think now would be an excellent time to remind everybody that James "Adam Montana" Wolf is a fraud. He claimed that he graduated from Harvard when in fact he didn't even graduate from high school. He claimed to have made money on the "Kuwaiti RV" when in fact he was 14 years old during Desert Storm.
For those of you who are unfamiliar with the custom, the comments following Adam's weekly Q & A posts are basically nothing but arse-kissing. So I think we should do that here. I'll start this one off.
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Thanks for sharing your views, FS4. GOOOO RD!!!
ReplyDeleteThanks Sam!!!!
ReplyDeleteMuch respect for FS4!!!!
I am thinking about a future post about the damage control lie fest Adam used to open his last "chat". Stay tuned.
That rebuttal to "TheLiar" was really good but this one is icing on the cake!!!!! I just knew FS4 was a short timer as soon as before they got him! Way to go there! I saw that post over there and sure enough he didn't last long but he burned "Adam's" butt royally
DeleteWell I screwed up the wording in another post! Not sure how you guys delete posts but I sure have made my share of mistakes with no way to correct them. Oh well, that one was unimportant anyway but embarrassing still.
Delete"Another week has gone by in the land of dinar with no revalue, but let's not despair."
ReplyDeleteWow....really? Shocking. I think it is in fact time for your sheep to despair seeing how there is no such thing as a RV that will make them any relevant profit.
"Despite the crazy opinions you might read out there (by both pumpers and loppers), it's best to always keep in mind that 85% of what you will hear or read are just that... an opinion."
In other words don't believe the people speaking the truth. Only listen the people telling you that you are going to become rich for nothing.
"The other 15% might be fact, but at the end of the day I have one more fact for you: NOBODY can prove that the dinar will or will not revalue."
Is that a fact? The fact is the dinar may revalue. By a few percent or fractions of a percent but it is a fact that a RV of a 100%,1000%, 10,000%, 100,000% or more is in FACT impossible. That is no opinion. The nobody knows line is a favorite pumper tool. While we may not know who is going to win the next NASCAR race we do know that they will not win it by driving 850,000 mph.
"If you bought into the dinar because you need a quick payday... maybe you should sell your dinar."
Nice try with this attempt to make yourself look neutral Adam but its too late. We all know you are a dinar con man who uses deception to sell ripoff VIP services and to generate ads on your site.
"But if you bought into it because you believe the fundamentals are good and there is indeed a chance to make some money... then stay in!"
Fundamentals are good? Huh? The fundamentals are horrible. Iraq is a war torn sand hole on the brink of civil war, zero economy, unstable future, joke of a GDP and really nothing positive to talk about. Please Adam show us a country anytime in history that had good fundamentals and skyrocketed the value of their currency. You cannot because it doesn't happen. Currency value doesn't increase due to good fundamentals or economic growth.
"But most importantly, stay level headed and ignore the yahoos, clowns, gurus and anti-gurus out there. You know what they say about opinions... they're like butts. I know you have one, but I don't need it shoved in my face, and most likely I don't care to hear it."
Again......shut up everyone who is threatening my VIP numbers by speaking the truth. Maybe you can go on another ban fest to silence some more of the opposition there Adam. We know Dontlop really appreciates it. Now suddenly you are all against people speaking their opinions? Lol.....are you not the owner of a FORUM based on opinions? I guess only opinions which line your pockets are good huh?
"On that note, here's some positive news! 1. UAE opens office in Erbil. http://iqd.me/l/w03- 2. A slew of articles supporting the CBIs ability to maintain the stability of the dinar and expressing the need to support the CBI's "measures" (which happen unilaterally, by the way!). http://iqd.me/l/w040 and http://iqd.me/l/w042 (I know I'd support a "measure" to increase the value!) 3. Barzani actively engaged in HCL discussions: http://iqd.me/l/w041 I found a few more, but to sum it up... no RV at this immediate time, but with all this positive movement, I'm going to stick it out for a bit longer. And I'm glad you're here with me! (Except the trolls... the trolls can go away.)Read more: http://dinarvets.com/forums/index.php?/topic/172729-adam-montana-weekly-february-19-2014/#ixzz2toB8LVdg"
None of that crap is positive. Its all a bunch of irrelevant nonsense to keep your sheep excited about the fantasy "RV" that's never gonna happen.
Since the dinar RV is an event that's going to take place in the future (according to the scammers), exactly how is someone supposed to "prove" that an event hasn't occured won't, in fact, occur? It's a ridiculous argument to make. Nobody can "prove" that the sun will rise tomorrow. And since nobody can prove it, does that mean it won't? Of course not! Increasingly, that seems to be argument of the scammers. "Since the lopsters and doubters can't prove that this event that is going to take place in the future won't happen, that is proof that it will happen." What???? It's a sign of desperation, I believe. We can prove that Iraq has produced over 85 trillion dinar. We can prove the GDP of Iraq is $210 billion. We can prove the foreign currency reserves of Iraq are valued at $75 billion. So we can prove that the dinar is properly and fairly valued right now. It's just like proving two plus 2 equals 4. If scammers like Montana claim that is just an opinion, I would suggest the burden is on them to demonstrate that the laws of mathematics somehow don't apply to the dinar.
DeleteWell said FS4Enthusiast indeed! And well done Sam for the thorough research on James "Adam Montana" Wolf.
ReplyDeleteAgreed Dinarck! "Nobody can possibly know the RV isn't real" is just a guru slogan designed to shut down critical thinking amongst desperate 'devout' followers. Likewise, "anti-guru" or "anti-pumper" is nothing more than Projection.
The laughs just don't stop at DV. Among the last questions to their fearless leader was one that asked with 30T in circulation how can they possibly RV? Adam answers (http://snipurl.com/28lqmaw)
ReplyDelete"Simple - the 30 trillion is not USD, even though the lopsters and nay-sayers like to ignore that fact. RV that 30 trillion to 10 cents USD and how much is it? A lot less! Also, how much credit is the world willing to give to Iraq, considering their huge amounts of natural resources?"
So ignoring the fact that their money supply is actually 85T and 30T is only the physical cash, what would this mean? The US currently has to offer 3.7% interest to sell its 30 year bonds. Iraq being of vastly greater risk would have to offer at least double that if not much more. But lets give the belieers every possible chance and say they would only have to offer 7%. An RV of 30T dinars to 10 cents would require 3T USD in reserves. So if the CBI actually could sell 3T USD worth of bonds at 7%, that would mean they would have to pay interest alone of 210B USD per year (more if they every actually expect to pay the bond off). Iraq (the GOI not the CBI) only gets about 200B USD a year from oil revenues, so even if they simply gave that to the CBI to pay interest (not exchanged it for IQD as they do now but just gave it to the CBI) it still would not be enough and then what would the GOI use to fund its budget since then they would have no income? The whole idea is nonsense, yet Adam's believers just lap it up, hmm boy is that good Koolaid or what! Of course if you actually respond to one of Adam's chats you get banned
Lol......its funny. Dontlop has to quote his own post in the lopster tank to taunt someone to talk to him. Problem is there is hardly anyone left to answer him. Everyone has been banned. The few remaining just ignore his stupidity cause everyone knows the only way Dontlop can win an argument is to have his dinar pimp Adam ban anyone who disagrees. What a joke. His little sidekick DB is so void of any type of relevant argument that he is compulsively obsessed with how many people are using different screen names. Maybe if he stopped his delusional thinking for 5 minutes he would realize that people would only need one screen name if the scam artist that he worships didn't ban everyone who speaks the truth.
ReplyDeleteDontlop and DB both serve a good purpose by making the arguments look as stupid as they really are and I think that people over there do see that as evidenced by the lack of support they get from the others. Both DB and Dontlop had a lot of supporting replies early on but they have been pretty much abandoned now and they get little notice even when out of the "tank" because even the most delusional can see they are clueless and,,,,,well let's just say less than real bright. We can post the truth till Hell freezes over and it won't make any difference if no one reads it or if any do they have the attitude that we are just "reverse pumping", however when one of their own losses his/her creditability and makes popular myths look stupid that can cause serious doubt for those that are not too far gone already. A lot of people that were very active on DV have disappeared in the last few months and looking at some of their last posts (I have been laid up with a broken knee and kind of bored lately, Lol!) shows a trend of doubt in a lot of the posts so something must be happening.
DeleteWell said dwn.......I too have noticed a few regulars over there have disappeared. Caz being one. Cant say that I will miss that whiny baby.
ReplyDeleteSorry to hear about your knee. Hope you heal quickly.