Have you ever been on a family trip and you had your young child ask about 762 consecutive questions in a row? It can be tiresome, but as parents we practice our patience and try to answer as best we can. But there are some days when you just want to have a privacy glass like a limo that you can slide up so you don’t have to hear. That’s kinda how it is in the wonderful world of currency revaluation. This person and that person constantly touting how their “best source” has confirmed it’s going to be the best weekend ever! Where’s the accountability? Not to the sources who are always wrong, but to the person who continually posts this crap. Have we as a society become so intertwined in the social media hype that we’ve become addicted to the spotlight? I don’t monetize this site, I don’t post ads, and I don’t ask you to buy some plan that Reverend Betty has confirmed works with regardless of the financial situation. Let me reiterate, “THE BANKS KNOW NOTHING”. Sure they hear things, but again, how many banks are staying in business paying their tellers to stay on alert and work overtime every freaking weekend. The term “our best source” just makes me laugh. These current set of “gurus” have fallen into the same old trap the old guys fell into. Circle intel. One person posts something and suddenly everyone has the same bit of information just worded a little different. But they can confirm it! And why would you listen to some guy riding around in his car posting youtube videos about the iraqi dinar? The dinar is a good investment, period. But the constant rollercoaster of “our best sources” has taken its toll on too many people. It will happen but there are still things we must see publicly, openly below this will appear. You won’t need someone posting about how they told you it was happening (again) this weekend. We clearly saw a couple of years ago when the value went down, it will be the same when the value goes up. You will all know.
KXXXXXXX Sanctions on Iraqi banks for continued money laundering undermines the exchange rate and hurts the spread… There are 8 banks that received sanctions of the 920 branches in the country. Iraq is about the same size land mass-wise as California. California has 1000 Wells Fargo branches alone. So I don’t think 8 banks are going to spell the financial end of Iraq’s financial system.
PXXXX Iraqi dinar is pegged to the US dollar. If the dollar starts to lose value because the interest rates are being cut, then is this the time for Iraq to de-peg away from the dollar? …No, you just don’t do it. You have to weigh the pros and the cons of it. Yes I would like to see Iraq de-peg from the US dollar but I also want to make sure they are set up to do so before they do that… The goal is to get out from under the dollar. Right now is an interesting time with the dollar and other currencies. With the BRICS making such a push to pull countries away from the dependency on the dollar, specifically OPEC, Iraq has options to help keep their value once they are depegged from the dollar. Being in a basket of middle eastern currencies will help maintain their strength. No one seems to complain that the Bahrain dinar is $2.65 to the USD.
More to come…