PLEASE DON'T SHOOT THE MESSENGER!
Got this from another source.
Take from it what you will.
AQ & BGG CHAT, 11-14-2011, 4:35 PM
[A.Q] hey guys....................we all know to take this with a grain of salt and do that with this........this is RUMOR and even Scottyg says NOT VERIFIED...............this in NO WAY reflects this forum or what BGG and the forum says just some good info if it is true Scotti G: This is the absolute latest info. I am trying to confirm all aspects but as it stands right now. My 30 year currency exchange expert is stating that the banks in Iraq are trading the newly valued IQD. I am told that the in country rate is $4.40. I am also getting word from Dubai that Maliki has just announced the adjustment. Everyone is nuts. I do not have confirmation from the banker because it is not released yet into the country. I will let you know more when I find out more. I do not know what the politics of releasing in the US banks is at this time. Do not go nuts just yet. We are not 100% yet but we very well could be there! No questions I will be back later!
[A.Q] We all need to keep HIGHHOPES........:}
[BGG] Folks I am all in favor of keeping our hopes high. However.... Why would they (Iraqi's) be "cashing in" in Iraq (at 4.40)?? They would then have the more valuable of the currencies... It just goes from being able to buy a sack of groceries to purchasing a Mercedes... No reason for them to exchange to USD - only to lower denoms. Period.
[H-Spot] BGG I have always said this when people have said Iraqi's will cash in at $X.XX. It is their currency, THEY don't cash in. They get more value is all.
[BGG] I have our guys with "real" Dubai contacts reaching out to see if there is a legit word....I'm not buying in. Our phones would have been ringing off the hook. Proof positive. These "Gurusters" are idiots.
[BGG] Plus, it's an electronic event - even them implying that it will take more than 30 seconds to populate the systems shows how ignorant of the actual systems they really are. Horse Pucky!!
[A.Q] BGG.............love the new webster word. I agree with you however the fact that Shabs made the announcement now M.....tomorrow a holiday over there just declared on Sunday makes me think SOMETHING may be UP but rates are not true...jmho
[BGG] This morning I sent an e-mail to Kansas while I was on the phone - As soon as I pressed the button the guy said "oh, there it is..." - literally less than one full second. That's how fast the electonic system will populate...none of the big traders will have even a split second to "beat the game".
[phantom] A.Q still waiting for validation???????
[BGG] This sheer lunacy about - "it's live over there @ x.xx rate" is just NUTS!!
[wmawhite] A.Q ............please update me on the "fact that Shabs made the announcement....."
[BGG] I said over the weekend - every single dinar holder will know about this thing (once it is real) in about 3 hours. No one will have a huge time advantage. Just won't happen. Once it shows (for real) we'll all know immediately. I have heard about both speeches - once we have some clarification on translations, I'll be lots more firm. Till then, I'm still telling you - from now till about Wed. (for real). But not right now...(My thoughts).
[A.Q] wma..................cant here..............and still tracing it for myself
[BGG] This whole "Chicken little, chicken little" thingy is simple - it's all about readership and ratings. Plain and simple.
[BGG] The truth of the matter is that we are close, but our market man hasn't heard a whisper. Our Dubai contacts haven't placed a single call yet. Our Fed contact hasn't "batted an eye" and our banking contacts haven't gotten any memo or updates. However, we do have a couple of contacts "a little closer to the fire" who have given us some "heads up"... When it's real - I promise, I'll be - Johnny-on-the-spot bringing it to you.... Now I have to get back to work. Blucky!!
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