THE FOLLOWING IS IMO:
THE MORE I STUDY THIS ARTICLE THE MORE INTERESTED I BECOME ! (Article posted below)
MR. T CONFIRMS THAT SECURITY WILL NOT HAVE ANY NEGATIVE IMPACT ON THE CURRENCY BUT HE GOES ON TO SAY THAT THE RECENT SECURITY PROBLEM IN IRAQ IS A RESULT OF THE GREAT POWER OF THE IRAQI DINAR AND THE NEED TO PROTECT IT'S VALUE !! THIS IS MORE THAN HUGE TO ME !
HE THEN SAYS, THE CBI HAS STUDIED THE COURSE OR DIRECTION OF THE SECURITY ISSUES AND IT'S IMPACT ON THE CURRENCY !
HE THEN GOES ON TO CONFIDENTLY STATE THAT THE CBI'S FOREIGN CURRENCY RESERVES AND 70 BILLION DINARS CAN CONTROL THE RATE BETWEEN THE DOLLAR AND THE DINAR !!
GUYS !! DID YOU JUST MISS THAT ? TWO VERY IMPORTANT THINGS HERE TO NOTE.
FIRST HE SAYS FOREIGN CURRENCY RESERVES IN GENERAL WITHOUT AN AMOUNT !!!
SECOND HE SAYS THAT THEY HAVE 70 BILLION DINARS !!
GUYS !! DO YOU GET WHAT I GET ???? IT APPEARS HE IS TALKING ALREADY AS IF THEY HAVE ALREADY DROPPED THE ZEROS !!!
MY PERSONAL TAKE HERE IS WE ARE NOW IN POST ZERO MODE BASED ON THESE COMMENTS !!
YOU SEE IT DOESN'T MATTER THOUGH UNTIL THE RATE GOES LIVE AGAIN !! LIKE I TOLD YOU MANY TIMES THE TRUE RATE OF THE DINAR ENDED ON LAST THURSDAY(JUNE 19TH).
OZ IMMEDIATELY MOVED THE RATE TO 1116.9 AFTER NORMAL TRADING HOURS!! MMMM AS FAR AS WE KNOW AT THIS POINT I BELIEVE THEY HAVE NOW COMPLETED THE RE-DENOMINATION PHASE !!! WOOO HOOO !!!
AGAIN, HOW THEY TALK MAKES A DIFFERENCE AND WHAT THEY DON'T SAY SPEAKS LOUDLY TO ME !
THERE IS NO MENTION OF THE GOLD, ONLY FOREIGN RESERVES AND DINARS !! REALLY ??
70 BILLION DINARS IS GOING TO CONTROL THE RATE BETWEEN THE DOLLAR AND DINAR ? REALLY ? AT 1166 MMMM NOT !!! MAYBE I'M MISSING SOMETHING HERE BUT I DON'T THINK SO !!!
IF I'M RIGHT IT WON'T MATTER WHO WILL BE THE NEXT PM BECAUSE THIS WILL HAPPEN AND HAPPEN ON TIME I BELIEVE ! WHAT TIME ? WELL, IT APPEARS BEFORE JULY 1ST.
WE ALSO HEARD YESTERDAY IN ANOTHER ARTICLE THAT SISTANI SAID THERE WERE TIME LINE DEADLINES TO MEET AND TO HURRY ON PICKING THE NEW PM !! NOW WE MAY KNOW WHY HE SAID THAT !!
THIS POST IS NOT TO GIVE FALSE HOPE BUT TO CALL THINGS AS I SEE THEM RIGHT ? OUR TEAM IS A GREAT TEAM AND NO ONE IS A HERO, WE ALL JUST CONTRIBUTE THE BEST WE CAN. I HAVE GAINED A GREAT DEAL OF KNOWLEDGE FROM THIS TEAM, SO THANK YOU ALL VERY MUCH.
NOW LET'S SEE HOW THIS PLAYS OUT. IF I'M RIGHT WE WILL SEE THE ZEROS DROPPED BEFORE THE DINAR GOES LIVE AGAIN ON THE MARKET !! BLESSINGS TO ALL ! DOC
OF COURSE THESE ARE MY OWN THOUGHTS AND OPINIONS !
June 22nd, 2014, 5:24 am
Backdoc, I have to ask again because I don't understand...where are seeing that the cbi changed the rate? I still see 1166 on all their official pages.
I believe he's referring to the app XE. I've seen the rate increase on the app as well. Interesting nonetheless. Sager
WOW thank you so much Backdoc!!!!
Checking out XE and it shows on June 12th the close was 1116.9
IQD per 1 USD
12 Jun 2014 19:00 UTC
USD/IQD close: 1116.90002
Article referenced in above post:
Sager wrote on June 21st, 2014, 11:17 pm:
June 21, 2014
Central Bank Governor: Dinar strong despite the security situation
The governor of the Iraqi Central Bank and the Agency Abdel Basset Turki in a press statement that "the security situation in the country will not greatly affect the Iraqi dinar, attributing the cause to the power of the Iraqi dinar and the precautions that support it.
The governor of the Iraqi Central Bank that "the bank's management studied and researched the course of the security situation experienced by the country and its impacts on the financial situation in the country."
He added that "the existing foreign currency reserves at the Central Bank and of 70 billion dinars can control the exchange rate of the dinar against the dollar."
And noted that "cash reserve is able to support the exchange rate of the dinar, which currently stands at 1200 dinars per dollar so there is no fear on the dinar at the moment.