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becu4us] after the showing of the video….

[becu4us] they are going to be posting in all of the banks in Iraq how the lower denominations work…

[becu4us] that is a big deal

[becu4us] the Iraqi Dinar has been trading on the Derivative Market for the last two weeks

[becu4us] it’s been trading at 2.73….

[becu4us] well if it is trading in this private market, there is an expiration date before it goes live and we see it on Forex

[becu4us] according to the source, since it is trading so strong on that market, he thinks very strongly that it will come in between 4- 6 dollars…

[becu4us], by Nov 3rd….

[becu4us] is the expiration date…

[becu4us] will not go beyond it.

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becu4us] after the showing of the video….

[becu4us] they are going to be posting in all of the banks in Iraq how the lower denominations work…

[becu4us] that is a big deal

[becu4us] the Iraqi Dinar has been trading on the Derivative Market for the last two weeks

[becu4us] it’s been trading at 2.73….

[becu4us] well if it is trading in this private market, there is an expiration date before it goes live and we see it on Forex

[becu4us] according to the source, since it is trading so strong on that market, he thinks very strongly that it will come in between 4- 6 dollars…

[becu4us], by Nov 3rd….

[becu4us] is the expiration date…

[becu4us] will not go beyond it.

this was posted earlier,we can hope its true though.thanks for the post :)

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Wondering about this IMF Conference of Central Banks to be held in China on Monday (Sunday here) too:

http://tinyurl.com/2csynl2

IMF sets central bank meeting in Shanghai Monday

By Veronica Smith (AFP) – 2 days ago

WASHINGTON — The International Monetary Fund on Friday said it will hold a high-level conference of central bank governors in Shanghai next week to discuss ways to address the global financial crisis.

The IMF said the conference, scheduled for Monday, would include central bank chiefs and other officials from Asia, Africa, Europe, and North and South America.

The People's Bank of China will host the conference, to be co-chaired by the head of the central bank, Zhou Xiaochuan, and IMF managing director Dominique Strauss-Kahn, the Washington-based institution said in a statement.

The US Federal Reserve was expected to be represented by Kevin Warsh, a member of the central bank's policy-setting Federal Open Market Committee.

The Shanghai conference follows on the heels of last week's IMF and World Bank annual meetings, where leading finance officials discussed steps to strengthen the global economy's recovery from the worst recession since World War II and the global financial system.

"The conference is part of the ongoing international examination of the policy challenges posed by the global financial crisis," the IMF said.

Asked about the last-minute timing of the announcement in Washington, just days before the meeting opens in Shanghai, an IMF spokesman told AFP there was "no urgency surrounding this conference."

"This was in planning for a number of months," he said.

In its statement, the 187-nation IMF noted the meeting follows an IMF-sponsored gathering in South Korea of Asian policymakers and opinion leaders in July, at which it "committed to forging a new relationship with the region."

Monday's conference, "Macro-Prudential Policies: Asian Perspectives," will come just days ahead of a Group of 20 finance chief meeting in South Korea.

"The conference aims to advance the discussion on incorporating macro-prudential instruments into the broader policy architecture to help ensure financial stability," the IMF said.

A year ago, in the wake of the financial crisis, the Group of 20 developed and developing nations tasked the IMF with stepping up its focus on global systemic stability.

Authorities agreed a broader approach was needed to spot weakness in the increasingly interconnected financial system, to complement the traditional micro-prudential regulations of bank-by-bank audit and supervision.

Macro-prudential policies aim at the big systemic picture in a bid to reduce the risk of too-big-to-fail institutions.

A three-day meeting of G20 finance officials opens next Thursday in South Korea in preparation for a G20 summit of leaders in Seoul on November 11-12.

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becu4us] after the showing of the video….

[becu4us] they are going to be posting in all of the banks in Iraq how the lower denominations work…

[becu4us] that is a big deal

[becu4us] the Iraqi Dinar has been trading on the Derivative Market for the last two weeks

[becu4us] it’s been trading at 2.73….

[becu4us] well if it is trading in this private market, there is an expiration date before it goes live and we see it on Forex

[becu4us] according to the source, since it is trading so strong on that market, he thinks very strongly that it will come in between 4- 6 dollars…

[becu4us], by Nov 3rd….

[becu4us] is the expiration date…

[becu4us] will not go beyond it.

Common sense should tell us that this rumor has no basis in reality. Who in their right mind is going to trade dinars at $2.73, even as an option when they can be obtained all day every day for .0009? And in what derivatives markets are dinars even being traded?

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Trading at 2.73 on the Derivative Market is good I guess. Not sure what that market is. Can someone explain? Thanks for the post and explanation. God Bless Semper Fi

BobbyDee,

Its kinda like an option contract, where you purchase the option to buy something at a future date at certain terms or amounts. You don't necessarily need to buy the thing contracted for, but you pay for the seller holding it open for you to purchase for a stated period of time. KInd of like a futures market for currency.

Maynard

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BobbyDee,

Its kinda like an option contract, where you purchase the option to buy something at a future date at certain terms or amounts. You don't necessarily need to buy the thing contracted for, but you pay for the seller holding it open for you to purchase for a stated period of time. KInd of like a futures market for currency.

Maynard

so maynard if its being sold at 2.73 now FOR the future then it would suggest that the RV will be greater than this?

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Common sense should tell us that this rumor has no basis in reality. Who in their right mind is going to trade dinars at $2.73, even as an option when they can be obtained all day every day for .0009? And in what derivatives markets are dinars even being traded?

There is such a thing as a currency derivatives market!! Look it up for yourself....

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There is such a thing as a currency derivatives market!! Look it up for yourself....

Totally agree but with the difference in what you can buy Dinar for of many currency traders & the trading price of $2-$3 on the derivatives market nobody in there right mind would trade there

Sorry just doesn’t make sense nor add up to be a reputable rumor or source ;)

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What you guys are missing is that these banks have to protect themselves against this rise in the IQD. Banks use derivatives to hedge against currency fluctuations. This is not meant to make the bank a profit but only to protect against loss. Now they are not going to spend money to protect against loss if there is not fear of loss. Meaning that the the banks are expecting the value of IQD to be higher than what the derivative is being offered at by the expiration date. It has nothing to so with them buying the currency, but only that they will not have to pay for it when you bring it into the bank........

Shawn

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Common sense should tell us that this rumor has no basis in reality. Who in their right mind is going to trade dinars at $2.73, even as an option when they can be obtained all day every day for .0009? And in what derivatives markets are dinars even being traded?

Legolas,

Apparently you do not understand options. With an option you can control a lot with a little. Also, you don't have to take physical delivery of the commodity. Options make a lot of sense also because your losses are a known and are limited. There is an options market for currencies. So, as far as the options are concerned, it makes sense. If you buy all day at .0009 you either have to take delivery or pay a storage fee. Also, are you sure you can buy the quantities that are traded on the options market? Are those quantities even available?

He also states that this was on a PRIVATE market, not public. I checked with a friend who is a successful day trader and he verified that he does sometimes trade the Euro options market. He checked for the IQD and it is not available on the CME (Chicago Mercantile Exchange) or Forex (according to think or swim) as of an hour ago. This means it is not publicly traded. This DOESN'T mean there isn't a PRIVATE market where it is available (ie, Commercial Banks). Commercial Banks do have a private market that you can not deal in. Only they can. As a matter of fact, if the CBI has stopped selling Dinar and Commercial Banks in the US are buying Dinar options ...... wow!

So, the only thing that can logically debunk this is to find out which private market it is being traded on and then go from there.

Could be true, could be a lie. The options isn't though, so all: please stop arguing about whether or not the options portion of this makes sense. Because it does make sense if it is going to RV/RI over $2.73, soon.

Thank you.

BMWman

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