January 26, 2010
FINALLY some good news for us Dinar Currency speculators! I’m extremely interested to hear what the number crunchers in the crowd are going to have to say about this one, for several reasons. The Iraqi federal budget has been held up by debates for several weeks, primarily for political reasons.
I mentioned months ago that the budget was going to be a big issue, and not for economic reasons… for political reasons. Political reasons such as Prime Minister Maliki’s upcoming electoral opponents wanted to make sure he was not able to use any state resources to fund his March 7 election campaign… the plot thickens, as always!
After what seems like a hundred years of sissy-footing around, the Iraqi parliament passed a 2010 federal budget earlier today (Tuesday January 26 2010) that puts federal spending at $72.4 billion (84.7 trillion Iraqi Dinars). The budget also sets a deficit this year of $19.6 billion (22.9 trillion Iraqi Dinars).
Iraqi government income is estimated at about 62 trillion Iraqi Dinars ($53 billion), 95% of which is from crude oil exports. Here’s where the number crunching comments should start: Iraq’s current and projected crude oil exports.
Also of note, the approved budget allows Iraq to seek a $4.5 billion arrangement with the IMF. This has been discussed before, and several times the IMF loans have fallen by the wayside. A trend I have noticed, however, is that when the IMF loan falls through, sometime in the near future an agreement is reached with one country or another that Iraq owes money to. Some debt is forgiven, investment opportunities are arranged for the country that forgives the debt, and Iraq walks away with a stronger foundation upon which to build a secure and financially successful future.
I’ll be keeping an eye on things, stay tuned!
-Adam Montana
January 25, 2010
Yesterday held a few interesting tidbits for Dinar Investors, not least of which was a statement by Iraqi Foreign Ministry regarding the current Chapter VII sanctions against Iraq. Chapter VII currently keeps Iraq from functioning as a completely independent country and will probably have a major role in the value of Iraq’s currency and their ability to move into global markets.
According to the Kuwaiti News Agency (KUNA),
The Iraqi Foreign Ministry said in a statement that minister Hoshyar Zebari headed the Iraqi side at the meeting, while the US party was led by the Deputy Secretary of State Jeffrey Feltman.
Discussions at the meeting dealt with various issues of common concern, current regional affairs and means and plans for boosting security and stability in Iraq in particular and the region in general, the official statement said.
They also dealt in particular with the means to relieve Iraq of the chapter seven, efforts to enable Iraq restore its international status that it had enjoyed before issuance of the UN resolution 661 in 1990, in addition to the US honoring of its pledges with regard of the withdrawal of the American forces from the country.
Hat tip to one of the commentators here on DS, thank you for the note!
January 23, 2010
It’s amazing how such an amazing day of news…. financial news at that, has generated so much chatter and rumors being posted from so many. Is it a coincidence, or are those who are connected to “sources” finally hearing the real deal is coming down the pipe? I certainly don’t know for sure, but I have discovered a few fantastic articles that give me tremendous hope about my investment in Iraq. The best part about these articles is that they are ALL discussing BIG BUCKS being dropped in Iraq… wish I could join the fray!
Check these investment articles out…
January 21, 2010
Isn’t it a great time to be an owner of the “New Iraqi Dinar”? Did you read all the news of frenzied activity surround our investment today? Unbelievable! Let’s just take a step through what was shared with us through THE NEWS just yesterday, January 20, 2010. See if you can see a pattern or direction when viewing all the news articles one after the other. I think you’ll be amazed.
Article Title: Prime Minister Maliki – Iraq Needs Every Arab Country
Article Excerpt: “We are keen to bring Iraq back to play its role in the Arab region.”… “We are moving to complete the building, based on the will of the people has ended the suffering of Iraq and the atmosphere has become clear…”
Tidbit: I am reading the pride of the Iraqi Prime Minister to his Arab brothers, asking for and taking his rightful place among his counterparts within the Arab region. I don’t think I’d be too far off if I said he was informing them of both Iraq’s intentions and efforts.
January 20, 2010
I am flattered that Adam has invited me to join him in his effort to share enlightening information and educated speculation regarding our ever-changing, yet overwhelmingly addictive investment, the “New Iraqi Dinar”.
What better way for me to introduce myself, than to tell you MY story in this investment? I have little doubt many of you have a similar story. Such musings are what bind us to what we believe to be real. Such hopes are what keep us holding on during what we perceive to be delays in the RV. Such faith tied with justifiable logic is what helps us understand that we are witnessing history unlike anything this world has ever experienced before!
I first learned of this opportunity through a friend of one of the authors of “The Plan”. I received very little specific intel from this source, but what I did receive left no doubt that
January 18, 2010
Actually, the goal is to exceed $3000.
How much we donate depends on the community.
The death count in Haiti is over 150,000 already, and rising quickly. We care and as a community we can do a lot to help – that’s why we’re running a fundraiser at the forum.
Click here to see more details:
January 15, 2010
As most of you know, there is no better place on the net for FACTUAL news and only the BEST speculation – and that’s right here on the blog, at http://www.dinarspeculation.com.
For a while now I’ve been semi quiet, putting this book together – and it’s ready.
Click here to find out more about it.
Iraqi Dinar RV Intel Adam Montana
Stay tuned!
January 14, 2010
This was posted on the forum, and I’m officially nominating it for one of the best posts of the year already. I have not personally verified all of the information, but it’s obvious that people are paying attention!
Link: (http://dinarvets.com/forums/showthread.php?t=6200)
1. We know from Maliki’s letter to the UN dated 13 Dec 2009 that it is his intention to bring Iraq into the “international financial community” during 2010.
2. We know that his letter stated originally 2009 or 2010 and it is dated 13 Dec 2009. Therefore this would seem to indicate a degree of imminence in itself since he included 2009 with only 17 days left in that year!
3. From this letter then we know now a time frame and a FACT that the RV will occur by his use of the phrase to “bring Iraq into the international financial community.”
4. This was echoed by the UN in July when we found a document in which was buried on about the 50th page the statement that the UN intended to revalue the currency of Iraq as well.
5. The programmed rate of 1170 IQD to the dollar is set to expire on January 12, today. This needs to be verified because I did not provide the link proving this. However,
6. The Exchange Rate Mechanism (ERM) is scheduled to come into affect for Iraq on the 12th, the same day that the programmed rate expires.
7. The purpose of the ERM is to stabilize a given currency among several currencies that participate in the ERM so that large fluctuations are avoided. The goal of the ERM, as was the case in Europe, is to bring the currency group into “parity” and then eventually create a single currency for all of the countries in the group.
8. The fact that Iraq is participating in an ERM indicates that there is a plan, as yet not announced publicly, for a group of countries to form a unified currency in the ME.
9. The GCC has already indicated its desire to form a single currency and has in fact already invited and accepted Iraq into the GCC as a “fully fledged member”. This occurred in July.
10. For Iraq to become a fully fledged member, however, it has to have an internationally recognized currency. It’s entry therefore is another indication that the plan is in the works for an RV of the dinar.
11. The average current level of currencies in the GCC is about $3.45. It is therefore reasonable to suspect that the IQD will be RVd either at that rate or at a lower rate and then be allowed to rise to that rate prior to the creation of the single ME currency.
12. The ERM allows for a fixed rate platform, a managed float platform, and a free float platform.
13. We have heard rumors that the RV would include a short time frame for exchanging dinars. Periods from 30 days to 45 days seem to predominate. None has projected less than 30 days that I am aware of.
14. Presumably and logically the cash-in “window” would be used to draw in all notes of 1,000 dinar or larger. My assumption is that these would eventually be destroyed and then the IQD would have notes similar to the US dollar (1, 5, 20, 50, and 100) plus coinage as we do. All of this has already been planned for and I have read that the bills have been produced.
15. The final key to our analysis is to attempt to put a narrower time frame on the RV. This begins with March 17 as the farthest out possible date. The reasoning is as follows:
16. The IMF has announced that it is lending 7 trillion dinar to Iraq to support its budget. First payment on that loan is due on March 17. This number seems enormous on the surface and would lead us to believe that
January 11, 2010
We’re hearing a lot of buzz on the ERM, or Exchange Rate Mechanism for Iraq. I talked about it in chat this morning but wanted to take a moment and point you in the right direction if you wanted to research Iraqi Exchange Rate Mechanism and what it means for the Reval of the Iraqi currency.
(Here’s the link to the chat: http://dinarvets.com/forums/showthread.php?t=5945)
I also posted another article that does a great job of explaining some history on currencies, and ties it to Iraqi Dinar. See that one here: http://dinarvets.com/forums/showthread.php?t=5950
ERM, or Exchange Rate Mechanism, generally refers to the EU before they went to a common currency: the Euro. This Exchange Rate Mechanism was an agreement to keep the values of the currencies of the members of the European Economic Community tightly grouped, within +/- 2.25%. If any of the currencies went outside of that range, financial institutions were designed to step in and take action to bring the currency back into range.
Definition of ERM on business dictionary: http://www.businessdictionary.com/definition/exchange-rate-mechanism-ERM.html
Let’s play a little “Connect The Dots”… we already know that there is talk of a Common Middle Eastern Currency, known as the Gulf Dinar.The Iraqi Dinar Exchange Rate Mechanism, if implemented, could be the start of stabilizing the Exchange Rate of the Iraqi Dinar prior to bringing it into the GCC, where a union of countries will support each other financially to ensure a value within a small fluctuation rate. This is known as “semi-pegging”.
So, if Iraq is looking at an ERM, and the goal of an ERM is to keep the currencies in the group (or coalition, as it is in this case) on a level par with each other, what is the likely course for the Dinar at this point in time?
Quite simply, it has to be closer to the value of the other currencies in the “basket” in order to be withing a +/- 2.5% range. If this is the plan, I wouldn’t be surprised to see either an RV very soon, OR a rapid rise in value to get it up to the rate it needs to be at in order to match the other GCC member’s currencies.
Possible speculation and proposals on the Gulf Dinar put it about 2-3 years out. If Iraq does not RV overnight, they need time to grow the currency and avoid a huge shock to their economy, so things need to start happening soon.
One thing we know for sure is that we have not seen any movement on the Dinar in over a year, and at the same time we’re hearing about stuff like an Iraqi Dinar ERM. I can only imagine that means one thing: Something is in the works.
January 7, 2010
It’s almost done.
The problem is, I spent way too much time on it. When it was a small file of about three pages, I planned on just sending it to my newsletter group and being done with it.
A couple of FAQs and back to my life of blogging and investing and my saltwater fish tank.
Then I posted a blog asking for questions, and received well over 50 questions that I didn’t already have answered…
So I started answering them in the eBook.
Now I’m almost a month into it, and it’s going to take me at least another week of 12 hour days to get it done. I can’t just let it sit, because too many people have questions that need to be answered and it will drive me crazy sitting there unfinished!
I also can’t justify slapping it together and tossing it out there without caring for the quality, because that will only cause more confusion and lead to more questions and I’ll have done you a great disservice by giving it to you in the first place…
So I’ve decided to put my heart and soul into it until it is finished. I’m going to pack 5 years of research, rumor busting, and intel gathering knowledge into it.
And then I’m going to sell it.
This kind of information would take anyone at least a month of non-stop studying to find, and even then there’s no guarantee that you won’t be led astray by some rumor mongering dinar dealer. The real value comes from the fact that I have nothing to gain by misleading you – I don’t sell Dinar, and I’m not going to promote a dealer for a kickback! If you choose to buy or not buy – that will be based on your newly found knowledge thanks to my hard work. When you read what I have to say and make your decision – you’ll be able to sleep at night with confidence that you’re making a well informed decision, whether you buy, sell, or just walk away.
A month of studying with a professor for a college course is worth more than a thousand dollars, but I’m not going to put that kind of a price on it. I’ve seen other informational packets like this go for well over $89, $99, I even paid $249 for one and it was worth every penny.
Don’t worry, though – I won’t be charging that much for it. Just enough to make sure it’s a quality piece of work and not some triple spaced huge font pile of junk!
I’m on page 48 and I haven’t even put my Chapter 7 analysis in… this is a very exciting time for me, and I hope you are all excited as well!
The reason I’m telling you this is because my Dinar bloggings are going to be a bit sparse this week. Writing this book has become an all encompassing project that is sucking up every bit of my free time.
Don’t worry about me, though – it’s coming along great, and I’ll see you soon!