Forex traders assessment of unrecognized currency

[sxsess]

I have a close friend that is a very experienced currency trader on the Forex that I had a recent discussion with about the IQD. He said that Iraq would never release targeted dates for currency revalution or reinstatement because of the risk of a huge run on it by speculators. This could result in disaster in his words. I realize there are some here that already understand this so hold up on the insults. He said we will know the RV/RI was complete after the fact when the monetary system screens flash the new rate. To me this is common sense. I believe Adam said in previous communications that the RV would not hinge on the passing of the budget. My friend is saying the same thing. He said as long as they can back their currency along with reducing the money supply to the point where an RV/RI can be achieved without destabilizing the currency, this could be a huge success. I also discussed the money supply numbers Iraq has claimed in recent months. He again said they most likely wont accurately release true numbers, again because of the risk involved with speculators. So to me all the noise about the budget means nothing pertaining to an RV.

[t1007]

Hmmmmm...Thanks

[WISKY291]

I have a close friend that is a very experienced currency trader on the Forex that I had a recent discussion with about the IQD. He said that Iraq would never release targeted dates for currency revalution or reinstatement because of the risk of a huge run on it by speculators. This could result in disaster in his words. I realize there are some here that already understand this so hold up on the insults. He said we will know the RV/RI was complete after the fact when the monetary system screens flash the new rate. To me this is common sense. I believe Adam said in previous communications that the RV would not hinge on the passing of the budget. My friend is saying the same thing. He said as long as they can back their currency along with reducing the money supply to the point where an RV/RI can be achieved without destabilizing the currency, this could be a huge success. I also discussed the money supply numbers Iraq has claimed in recent months. He again said they most likely wont accurately release true numbers, again because of the risk involved with speculators. So to me all the noise about the budget means nothing pertaining to an RV.

Thanks, sxsess

[TLHUBER]

Well it sure didn't matter last year. The budget that is.

[TQueezy]

Well, I'm sure the budget it part and parcel of it, but they can write the budget in such a way as to allow for modification or recalibration based on a new currency rate. Can anyone dispute that with evidence?

[tileman1814]

I have a close friend that is a very experienced currency trader on the Forex that I had a recent discussion with about the IQD. He said that Iraq would never release targeted dates for currency revalution or reinstatement because of the risk of a huge run on it by speculators. This could result in disaster in his words. I realize there are some here that already understand this so hold up on the insults. He said we will know the RV/RI was complete after the fact when the monetary system screens flash the new rate. To me this is common sense. I believe Adam said in previous communications that the RV would not hinge on the passing of the budget. My friend is saying the same thing. He said as long as they can back their currency along with reducing the money supply to the point where an RV/RI can be achieved without destabilizing the currency, this could be a huge success. I also discussed the money supply numbers Iraq has claimed in recent months. He again said they most likely wont accurately release true numbers, again because of the risk involved with speculators. So to me all the noise about the budget means nothing pertaining to an RV.

Thanks for a common sense post.I have given up on all of the so called gurus a long time ago with the exception of one,"Randy Koonce",the rest os them just blow smoke.I have always belived that Iraq would RV their currency when they got damn good and ready and they were not about to let on to anyone when that would be.I've been this for a lot longer than just a few dances and the only source of information that has been close as we've moved forward with this is the "Future of Iraq Project",from 2004.

Semper Fi !!!

[Zman6]

Since this is in the news section shouldn't there be a link? Perhaps this belongs in the rumor section.

[Rogue Knight]

Well it sure didn't matter last year. The budget that is.

Hell, our own COUNTRY hasn't passed a budget in the last 4 years...

Edited February 10, 2013 by Rogue Knight

[RVPleaseToday]

"Well, I'm sure the budget it part and parcel of it, but they can write the budget in such a way as to allow for modification or recalibration based on a new currency rate. Can anyone dispute that with evidence?"

How do you dispute pure speculation? I can't prove the Invisible Pink Unicorn doesn't exist, but that doesn't prove she does! You are descending into pure imagination.

Edited February 10, 2013 by RVPleaseToday

[TQueezy]

"Well, I'm sure the budget it part and parcel of it, but they can write the budget in such a way as to allow for modification or recalibration based on a new currency rate. Can anyone dispute that with evidence?"

How do you dispute pure speculation? I can't prove the Invisible Pink Unicorn doesn't exist, but that doesn't prove she does! You are descending into pure imagination.

What I'm saying or asking is if anyone can prove they don't modify or recalibration the budget for currency revaluations, and if you can't price it with evidence, then it means it's a possibility they actually do just that.

[RVPleaseToday]

Well, we don't know. No huge, overnight RV has ever happened before, so they would have to figure it out.

[Tirebiter]

Thanks for the posr sxsess.

In regards to Currency Values and Budgets, I'd have to side on the overall picture of not just budgets being a factor, but the overall economic status as well. We can look to the current devaluation in Venezula as an example. They are in a position due to inflation and trade deficits versus their import excesses as having to take action. Of course, in their case, their budget is involved as well since it is a total nanny state essentially. Iraq's economy is still unstable. Hopefully, the budget process is part of the solution to some of their economic woes. Consequently, I feel it is all pieces of the pie. jmo.

[DropItLikeItsHot]

I asked the same question a couple days ago, Does the budget really have anything to due with the RV, no comments, I personally feel it doesn't matter, taking all this budget poop as just that POOP. It gives the GURUS something to talk about, that's about it. JMHO

DropItLikeItsHot GO RV Still Waiting

[LIBoy]

Geat post SX.....no hype or BS, just common sense facts. I agree completely with him about the fact that the numbers coming out of Iraq in regards to circulation amounts are most likely inaccurate in order to keep things where they need them. Folks like Keepm would disagree because they don't think I raq would publish false numbers because they are being done by an independent auditing company. To me that is a tad naive but I will respect his position. This is anything but a black and white, what you see is what you get investment. When all of this craziness is over, I think people will be amazed to find out the lengths they are going to in order to pull off the greatest financial resurection in the history of the world. I'm not a bible thumper but the bible clearly states that Babylon will rise again. If this isn't what the good book was refering to, I have no idea what would be.