TXtrader Posts 5/4/11
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TXtrader Posts 5/4/11
by Rooster Wed May 04, 2011 8:06 pm
TXtrader Posts 5/4/11
been informed today they can have Auctions at zero for awhile and Iraq still have currency to last into first week of June. It still means we are very close but hold on it may get bumpy for a bit longer. If they don’t RV soon after drying up the currency market, inflation will skyrocket and be a disaster.
We will still see the RV very soon.
Also look at the price of the lower denoms, they are at about $8k per million IQD. Its all good.
Some have said the DFI expires May 5th, and some say June 30th ( they tried to extend to June 30th but could not )these dates are both wrong. Shabibi himself stated DFI expires May 30th, so thats our “RV must be done by date or they risk losing the DFI funds.”
The answer to why a low RV rate
Shabibi has said several times raise or remove the 3 zeros and that it would increase the IQD value. If you look at his other statements or ones by Talibani or Selah. They indicate they want to RI someday to restore the old rate of $3.22 USD to 1 IQD ( referred to as the Golden Dinar rate).
They also said they want Iraq to stand on its own and stop using the USD or other foreign currency. They use two or three major currencies now, mainly the USD and the Euro due to oil prices tied to these two.
Yes that’s right the Euro is used by China and Iran to buy/sell oil as of this year. Everyone else follows OPEC rules to only trade oil in USD. So to get Iraq in country weaned off these two currencies they need to be at least the same price or higher. A .85 rate does not do that but a 1.45 rate does.
So if you had 10,000 Dinar they would be worth $14,500 USD or about 10,000 Euros. They cant go much higher to start, it would destabilize the country and region, but they could increment it up as I stated a few days ago.
I would Love to see 4 or 5 rate but it wont start that way. That’s why i said dont sell off the first day unless they force us to cash in by a set time limit.
been informed today they can have Auctions at zero for awhile and Iraq still have currency to last into first week of June. It still means we are very close but hold on it may get bumpy for a bit longer. If they don’t RV soon after drying up the currency market, inflation will skyrocket and be a disaster.
We will still see the RV very soon.
Also look at the price of the lower denoms, they are at about $8k per million IQD. Its all good.
Some have said the DFI expires May 5th, and some say June 30th ( they tried to extend to June 30th but could not )these dates are both wrong. Shabibi himself stated DFI expires May 30th, so thats our “RV must be done by date or they risk losing the DFI funds.”
The answer to why a low RV rate
Shabibi has said several times raise or remove the 3 zeros and that it would increase the IQD value. If you look at his other statements or ones by Talibani or Selah. They indicate they want to RI someday to restore the old rate of $3.22 USD to 1 IQD ( referred to as the Golden Dinar rate).
They also said they want Iraq to stand on its own and stop using the USD or other foreign currency. They use two or three major currencies now, mainly the USD and the Euro due to oil prices tied to these two.
Yes that’s right the Euro is used by China and Iran to buy/sell oil as of this year. Everyone else follows OPEC rules to only trade oil in USD. So to get Iraq in country weaned off these two currencies they need to be at least the same price or higher. A .85 rate does not do that but a 1.45 rate does.
So if you had 10,000 Dinar they would be worth $14,500 USD or about 10,000 Euros. They cant go much higher to start, it would destabilize the country and region, but they could increment it up as I stated a few days ago.
I would Love to see 4 or 5 rate but it wont start that way. That’s why i said dont sell off the first day unless they force us to cash in by a set time limit.
Rooster- Posts : 1446
Join date : 2011-04-16
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