[adam montana] goooooooooooood morning! Been working like a mad person on this chat and server issue… the last 48 hours have been particularly brutal yeah, exactly. Hey, on the positive side of it all… the NDC chat still works!
[adam montana] Official weekly chat time! This is going to be a unique one… for the first time in several years, I literally have not had a minute to keep up with Dinar News, so I’m not going to pretend to have the latest We’ve been having server issues and those are never fun
[adam montana] I can tell you that without a doubt the Dinar has not yet revalued, nor has it lopped So at the very least – the normal “be patient and wait” advice still applies kcw, whenever you are ready please
[kcw] RV-2-Day Adam For a long time 1M Dinar could be purchaced at $1200. Now at multiple sights the price for 1M Dinar is at $1000. Although this is cheaper for us it is heading in the wrong direction and reflects a devaluation of the Dinar not a RV. It would be logical to expect the price to increase if we were getting closer to the RV. What do you see as the explanation for this?
[adam montana] That logic would make sense if anyone actually knew or could prove that the Dinar was going to RV soon. Until it actually RVs, the dinar is simply a commodity that people are willing to pay for, and dealers price it based on the market
[adam montana] since there are a few more dealers out there, the pricing is more competitive, and the price gets driven down. This has absolutely no bearing on the value of the Dinar in Iraq – it’s simply supply and demand
[adam montana] now AFTER the RV is announced, obviously the prices are going to change again. And just like right now, what we can get when we cash in is determined by supply and demand.
[adam montana] If you’re in a group, obviously you will be able to get more for your money because we have leverage. If you’re a single person or part of a smaller group, you are more at the mercy of the banks and the dealers the bottom line is, to answer your question – the price of the dinar in our market is driven by competition, supply, and demand. That’s it. :tiphat:
[adam montana] next please!
[kcw] RodandStaff Many have speculated that the Iraqi Dinar will actually help raise the world economy once it revalues…. Adam… what’s your take on that line of thought? Or do you see Iraq as operating independently on their own volition? Thanks for all you do, and btw… do you think we could hire some new refs for the upcoming Packers games… one’s that don’t make rules up as they go???
[adam montana] New refs would be awesome. A revaluation of the Iraqi Dinar WILL make a difference worldwide, and it will indeed impact the global economy
[adam montana] Iraq won’t RV because they want to help the world, but returning their currency to a higher value like it used to have will be a tremendous booster to us all
[adam montana] (To clarify – I mean Iraq is going to do what they want to do regardless of how it affects us. We will benefit from an RV, but that’s not why they will or won’t do it.)
[adam montana] next please!
[kcw] M.Duke Hi Adam I am glad that you have this Q&A you really helps us newcomers out . My question is this do you think that they will drop the zero’s on the dinars ?
[adam montana] Eventually they have to drop the 0’s and move into a lower denominated currency. However, that doesn’t mean we will lose value on the higher notes, and it doesn’t mean the opposite either.
[adam montana] I strongly encourage all newcomers to read my book – you can get it at 80% off in the DinarVets.com forum! Check the “Announcements” section. Or, if you are a VIP member – it’s free. Get it at this link: http://iqd.me/l/rvintel
[adam montana] you can spend days and weeks studying, researching, and getting frustrated – or for a small price you can cut your learning curve down in about a half hour
[kcw] one2one will the UST actually cover the cash-in [ not Iraq ] ?
[adam montana] No, the UST isn’t covering the dinar at all. Here’s how it works: When the value goes up, banks will begin trading it, and you can go to the bank to cash in. The rate you receive will be based on the buy/sell margin that the banks are able to get through the CBI
[adam montana] if they can’t sell it to Iraq or some other source, then you WILL NOT be able to cash it in. The UST isn’t going to trump or override that fact.
[adam montana] speaking of cashing in, everyone should understand how the spread works. I know some dealers say they won’t charge a spread, but they are not mentioning that there is ALREADY a spread built into the exchange rate posted on the CBI, and you MAY get screwed if that is the only way they are verifying the rate!
[adam montana] if any of that is of concern to you, I suggest getting the Cash In Guide – this one is 100% free. http://dinarnews.net/cas ••• uide.php
[kcw] Hawaii 50 So Hello again! There is so much talk of removal of the zeros in 2013, Is this looking like the Rv is being dragged out or our we closer than ever? I feel like it’s taking so much effort on the part of the GOI just to keep the peace. Are they really going to pull this off by the end of this year?
[adam montana] End of the year, End of 2013, Not till 2020… honestly, who knows. I see no reason to delay at this time. The Middle East is relatively calm right now, the GOI is in great shape, and they should be able to rubber stamp Chapter 7 pretty easy.
[adam montana] so with all that said – thank you all for letting me answer the few questions we had this week! I’m going to get back to work to get the DV chat working, and I’ll be in touch with news as I get it
[adam montana] goo rrrvvv!!!!