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Wall Street Junkie

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  1. "The Iraqi cabinet launched a project to help women start small- and medium-sized projects by giving them loans with easy terms that range from 7 to 12 million Iraqi dinars ($6,020 to $10,320)" said Salam al-Quraishi, economic advisor to the Iraqi government. "The project targets only women who have no work or were affected by terrorist operations through the loss of their breadwinners, whether husbands, sons or fathers," he said. The project will cover all cities across the country, he said, and loans will be disbursed through a committee comprising members of the women's affairs and labour and social affairs ministries.
  2. This information has not yet made the financial news, but here is a heads up for all of you on the group of currencies in the first "basket of currencies" out of the 168 scheduled for revaluation or devaluation. I'd strongly suggest that you study these currencies, know what their current value is, find out what the nation's asset base is, and make your own determination as to the feasibility of investing in them. Time is of the essence in this -- obviously!! Two of the currencies listed are two we've talked about and are very familiar with -- the IQD and the VND., or within days What is interesting about this list is that these two currencies are obviously revaluing either at the same time of each other. The IQD's revaluation is literally "moments away", if I can put it like that, and the Dong will follow almost immediately thereafter. Following is the list as it was provided to me: Jordanian Dinar, Somali Shilling, Seychelles Rupee, Sao Tomean Dodras (whatever that is), Tunisian Dollar, Syrian Pound, Tanzanian Shilling, Malaysian Ringg, UAE Dirham, Peruvian Nuevo, Philippine Peso, Qatari Rial, Namibian Dollar, Euro, Nigerian Naira, Omani Rial, Chinese Yuan, Kazakhstani Tenge, Lebanese Pound, Vietnamese Dong, Iraqi Dinar, Colombian Peso, Bolivian Bolivano, and the Venezuelan Bolivar. The Venezuelan Bolivar devalued this past week by something on the order of 50% against the USD. The Euro is slated for devaluation and elimination several weeks or months from now, and it will be replaced by the new German Mark (the Mark II), which will be the new currency of the European Union. You'll notice that the USD is not among this list. The USD is going to lose value, but from all I've seen and heard, its value will drop and then gain in stages in relationship to other currencies. One currency not on this list that I was advised was going to devalue this week is the New Zealand Dollar. I'm not sure if that was an error or not, or if it is supposed to be in the next basket, but keep an eye on the NZD.
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