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we all get excited when we hear about a good milestone that Iraqi hits, but we have to wait until the oil market starts to drop the cost of oil per barrel before we see any rise in the value of their currency. They are collecting way to much in petro dollar to have a need to do it now. When the demand for oil drops because the USA is going to flood the market with oil again, they will have to add value to their currency to be able to keep up with their spending. All this of course is my guess of how it will happen. I think that when a barrel of oil hits around 60 dollars per barrel again we should see some movement in the value of the currency.

 

 

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Breiting, who I greatly respect, has been saying this as well.  In fact just this week he gave the range of $60-63.  He also mentioned that the increased outputs of OPEC members, and especially Suadi Arabia, should push this forward pretty quickly.

 

Thanks for posting.

 

GOOOOOOOOOOOO RV.

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And this may help move this along quickly!

Trump To OPEC 'Allies': "Reduce Oil Prices Now" Or Lose US Defense Shield

Update: For the umpteenth time this year, President Trump has lashed out at OPEC over soaring oil prices (and therefore gas prices): "The OPEC Monopoly must remember that gas prices are up & they are doing little to help. If anything, they are driving prices higher."

Then Trump escalated his rhetoric, appearing to threaten the withdrawal of support unless action is taken "...the United States defends many of their members for very little $’s. This must be a two way street. REDUCE PRICING NOW! "

 

The OPEC Monopoly must remember that gas prices are up & they are doing little to help. If anything, they are driving prices higher as the United States defends many of their members for very little $’s. This must be a two way street. REDUCE PRICING NOW!

 
 

This is coming after reports that Trump asked the Saudis to increase production by 2mm barrels and that they agreed.

President Trump has not been shy of expressing his views to OPEC...

 

https://www.zerohedge.com/news/2018-07-04/how-much-us-households-lose-gas-prices-rise

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34 minutes ago, thankins said:

regardless of political party in power, gas prices have almost always dropped just before an election or mid-term election to help the incumbent chances of being re-elected. 

And that works to our advantage in regards to the timing of an RV.  I also like Breitling's take on geopolitics and the need for these countries to diversify as oil prices drop.  We've been on quite the proverbial roller coaster ride, but it sure looks hopeful right now.

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