Member of the Economic Commission: the deterioration of the Syrian pound to the U.S. dollar will lead to the depletion of foreign currency from Iraq

[Shelley]

"process of depletion of the hard currency of the country as a result of the deterioration of the Syrian pound against the dollar, what will affect the price exchange the Iraqi dinar against international currencies. said Albjara (of the Agency news) said on Wednesday: The low exchange rate of the Syrian pound to the U.S. dollar will lead to the withdrawal of foreign currency from local markets in favor of Syria, as happened recently when the deterioration of Altoman Iranian imam of the U.S. dollar, and this What will affect the value of hard currency in the markets of Iraq and the low exchange rate of the dinar against the dollar."

Yeah, we know that. The "hard currency out of the country" was the USD. According to estimates, the US Dollar was 40% of the cash in Iraq. With the price it's going for to Iranians and Syrians trying to protect any value they have left, I would sell mine too if I were an Iraqi.

What's next, now that all of the USD is gone? Dinars. It's the next currency of value that's available. Kuwait and Saudi Arabia don't have as porous borders as Iraq does. If the Shiite government in Iraq let's it slip to the (Shiite) Syrians and the (Shiite) Iranians that the Dinar is going to RV, they will suck up every dime available.

I believe this is already happening, and it will be a blessing and a big problem. Yes, it will speed up an RV. Iraq is a cash society, 80% of them don't even use a bank. They have to have money "in the street", they have to. An RV and subsequent release of lower denominations (old or new) would instantly fix this. The bad news is that the bad guys over there would have a LOT of dinars (they do now, anyway - but they would have more). This would prolong the unrest in the entire region, as it would fund Assad's genocidal crackdown and float the crumbling Central Bank of Iran almost indefinitely. Does anybody think, that if Darth Sadr knows there's going to be an RV, that he isn't telling his butt-buddies over the border about it? Also, if the RV is forced to happen before they plan to (there IS a plan!), it may be lower than they had originally set it for.

If I were them.............I would RV at the very end of the Summit on Thursday the 29th, and still have banking holiday time through Saturday, and Sunday could get tacked on to that holiday in a heartbeat if I needed the time. How much easier would a National Meeting go when you've just RV'd the currency? That would soften everyone up a bit!

Agree with you 100% FNB and if they did it they way you say, they would still have all the security set in place from the Summit, which I do believe they will absolutely need.

[Nakida]

I am so afraid of getting excited. I know that we are all looking good, but there is always that chance of "waiting" long periods again.

[fnbplanet]

I am so afraid of getting excited. I know that we are all looking good, but there is always that chance of "waiting" long periods again.

You aren't required to get excited. I assure you, there is absolutely no chance that you will miss this when it happens. If you were away from the computer for a month, there would still be plenty of time to cash in and enjoy the party - I promise!

[Nakida]

FNB.........Thank you for that! Yeah, I know its not a requirement........but whewy boy is it difficult not to hehehehe

[fnbplanet]

Once you realize that we have no control over it, and that IT will come to US, the excitement is much, much more enjoyable!