Iraq begins in 2016 to cut its currency against the dollar

[Nuki]

Drats... What a scam this all is ...

 

 Whoa whoa whoa, slow down everyone. Don't start throwing your hands up and burning your dinars. Futures trading (which is pretty much what we're all doing here) is a gamble like anything. You should never ever gamble with money that you can't afford to lose. Right now, Iraq is seeing all types of movement on big issues the country has long ignored. The currency thing is one of them. It is likely things can appear to get worse before they get better. Throw those dinars in a safe and take some time away from this site. Come back with a fresh perspective and sense of hope. It's doubtful you'll miss anything big. It is very likely that in the end, you won't lose much more than you spent on this. 

Edited January 2, 2016 by Nuki

[sxsess]

Whoa whoa whoa, slow down everyone. Don't start throwing your hands up and burning your dinars. Futures trading (which is pretty much what we're all doing here) is a gamble like anything. You should never ever gamble with money that you can't afford to lose. Right now, Iraq is seeing all types of movement on big issues the country has long ignored. The currency thing is one of them. It is likely things can appear to get worse before they get better. Throw those dinars in a safe and take some time away from this site. Come back with a fresh perspective and sense of hope. It's doubtful you'll miss anything big. It is very likely that in the end, you won't lose much more than you spent on this.

I like your post Nuki. This is what I have done. I'll go down with the ship but the way things are going it will be my kids that will benefit if this ever happens at all. I never invest what I can't afford to lose. I would be satisfied with a .01 RV at this point. That net me $200k but I'll dream in one hand and *hit in the other. Good luck brother.

[Dinarian64]

Whoa whoa whoa, slow down everyone. Don't start throwing your hands up and burning your dinars. Futures trading (which is pretty much what we're all doing here) is a gamble like anything. You should never ever gamble with money that you can't afford to lose. Right now, Iraq is seeing all types of movement on big issues the country has long ignored. The currency thing is one of them. It is likely things can appear to get worse before they get better. Throw those dinars in a safe and take some time away from this site. Come back with a fresh perspective and sense of hope. It's doubtful you'll miss anything big. It is very likely that in the end, you won't lose much more than you spent on this.

Well said

[TennesseeCherokee]

Hang in there everyone, if you're able.

Something is about to happen.

Iraq has already streamlined all their government department and drastically cut all these politician's pay. They don't care how long they make all the citizens who are eating out of garbage cans wait, but these high price bellhops aren't gonna wait long to pay themselves.

That, to me, is the lynchpin......and the fact that the price of oil continues to plummet.

Iraq has to diversify AND they have to bring in international investors to build infrastructure and manufacturing plants.

It's coming.

[SocalDinar]

In case anyone is curious if I did any research:

 

This is the document so many "gurus" want to quote. Nothing in there about a 2% spread.

https://www.imf.org/external/pubs/ft/aa/#art8

 

Also this:

http://www.imf.org/external/pubs/ft/issues/issues38/ei38.pdf

 

From the people over at Dinar Updates dot com.

 

Don't just absorb and regurgitate things people say without researching, please.

Thanks for the info Tqueezy. Straight from the horses mouth.

At 1224 the MKT it is fairly stable IMO.  Especially with all that's going on over there. Central Bank still showing 1182 posted rate.

When was the last time they were even close to 2%? I think it was early 2011 but most likely am wrong. The days turn into years around here LOL