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Linda Bower

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Posts posted by Linda Bower

  1. I've been watching the charts on XE and for the past 2 1/2 weeks its been going bananas!  Up and down, up and down, over and over and over again. It had held pretty steady for several years, but not now!  It looks like we are monitoring their currency heartbeat.  I have no idea what it actually means, but my hope is its going to start shooting up in value.


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  2. Henig  Article: "Including Iraq..Three countries will record the highest economic growth in 2023" Quote: "Despite the decline in the economic growth of the Arab countries, the bank stated that "Egypt, the UAE and Iraq have the highest economic growth rate among the other Arab countries during the year 2023, as their growth is expected to exceed 4%, while the growth rate of the rest of the Arab countries will decrease to less than 4%.:twothumbs:


    Grouping Iraq in with the UAE is a far stretch. Take a look at Dubai's skyline over the past 20 years and you will notice it has quadrupled.  Their commerce is spreading  like crazy and they pay their citizens a portion of what they bring in from their oil revenues.  Iraq has a starving population and it has been in a standstill mode for the past 20 years.  They have brought in a lot of oil revenue, but it has not been to the benefit of their citizens.  How can they expect to succeed in commerce until they spread the wealth around?




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  3. The difference with Kuwait is they didn't have all these chat sites feeding them information.  They had to have boots on the ground telling them what was happeneing with the rate.  So when the rate started climbing they had to rely on who they knew to know when to cash in.  That $7 rate happened so fast they couldn't act fast enough to take advantage of it.

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  4. We were in Russia in November 1997 adopting 2 little girls.  We had to exchange all of our adoption money into rubles to pay for everything.  We were millionairs!  Shortly after we got home Russia lopped their currency (losing the 3 zeros).  The Russian people were given very little time to exchange and they limited the number of hours the banks would be open.  The lines were non ending.  So when the time was up many many Russians  were stuck with useless currency.  We were back in Russia 7 years later and the venders at the markets were unloading useless currency off on unsuspecting tourists as change for their purchases.  That, coupled with the fear of getting rubles that had been contaminated by Chernoble made for tricky exchanges.   So when the time comes to exchange our Dinar we are choosing to be safe rather than sorry.

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  5. Viet Nam, like China benefit from a low exchange rate because they export so many goods and it far exceeds what they import

    Iraq, on the other hand has very poor citizens that have to pay dearly for goods because it is all imported.  At this point they benefit very little from the oil their government exports.  So if Kazemi is going to keep the common man on the street happy, he needs to make some drastic changes.

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  6. if what Frank is saying about the GCC wanting a unified currency is true, it makes you wander what their exchange rate would be.  Even if it was $.25 to the US dollar, for Iraq to say no to it must mean they want a lot more bang for their buck. 25 cents is so much more buying power than they currently have..  Saudi Arabia, United Arab Emirates, and Quatar are in the neighborhood of a quarter to the USD, but the other 3 range from  2.60 to 3.30.  I can't imagine the 3 countries coming down from that exchange rate.  It still begs to question why Iraq would turn down even the higher rates of exchange.  What do they hope for in future exchanges?

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