Differing Interpretation on The Dealers Damaging The Iraq Economy

[RichNick123]

After reading this over 20 times, I have a different interpretation. Feel free to correct me if you think I am totally wrong. Here is my synopsis:

1. Three days ago the rate and plan was revealed or discovered by government and local government officials.

A. "This process has affected and three days ago at the level of trading of the currencies in central Iraq"

2. They began to trade currency out of their condos and apartments, non banking institutions.

A. "source from inside the Green Zone, says that some of the condos with leaders and officials and officers turned to the banks not matching the specifications of the storage of financial because they were filled with U.S. currency the dollar"

3. They are using US dollars to buy Dinar at the current exchange rate, 1170, and doing so by using the fear and ignorance of the local population who has trust in the dollar and no trust in the Dinar.

A. "traders the opportunity who make a living on such stages are active in damaging the Iraqi economy and raise the crisis between the people who started many of them converts from its own funds to the U.S. currency, an approach that is almost universal in Iraqi markets you are looking for safety in the maintenance of its financial resources by turning them into dollars and then deal with the new Iraqi currency, Valqnaah that prevail in the market now, that the process of replacement of zeros of the Iraqi currency, which is moving the government seeking to implement it during the period between this month and the end of this year."

4. Currently this is showing no effect on the local economy but will cause problems later when the new rate is understood by the uneducated locals. The locals will be totally urinated off to find..........

A. "It is expected to break out conflicts and problems in society and in the Iraqi economy if the project was carried out without the education and promotion by the government in the media and open channels of its own government to alter the currency and not to rely on the black market and banking companies, which accuses currently being fed the subject of rumors about what will happen with if the project was implemented as a means to increase the chances of speculation by raising the purchase price of the dollar against the Iraqi dinar in the exploitation of blatant ignorance of the public the fact that a step the central bank."

5. The rate of the dinar will be equal to that of the US dollar! There will be an uproar when they find their government officials have not helped them but taken them to the cleaners!

A. " a gain is added to the dealers in this matter than profit rate of 100%, where it will be the amount sold by the Iraqi currency and buyer of U.S. currency the dollar is the same amount will buy him the Iraqi dinar once again after the whistle of the Iraqi currency"

[RichNick123]

Wow, no thoughts as to whether this sucks ,or might be close to what is trying to be said in the article? With the amount of known corruption in Iraq it seems plausible to me.

[a1911handler]

Solid work there RichNick. Several of those references and inferences you make are rock solid.

To me the article speaks to the speculation that is going on based on the prospective change in the Dinar.

The 'damage' to the economy is probably the thought that a few speculators on the currency will be become locally powerful people due to the massive cash they hope to reap.

Edited July 20, 2011 by a1911handler

[RichNick123]

Solid work there RichNick. Several of those references and inferences you make are rock solid.

To me the article speaks to the speculation that is going on based on the prospective change in the Dinar.

The 'damage' to the economy is probably the thought that a few speculators on the currency will be become locally powerful people due to the massive cash they hope to reap.

A1911,

The information in this article leads me to several other quasi conclusions as well:

1. The increase of rumors that it has already RV'd in country. I believe it is possible that some of these gurus are not totally lying, at least I hope not, and that info has been compromised concerning the rate and date. The gurus info is only as good as the source. If the sources are seeing massive currency sell offs to benefit from the insider information of revaluation then it would make sense to take that a step further and say "it has occured".

2. The date given by most gurus is that it RV'd last Friday or over the weekend. This article says clearly that in the last 3 days the selling of dinars for dollars in non banking institutions began. This corresponds right with the supposed date the gurus have been releasing.

3. All of this leads me to believe it has not yet RV,d. What we are seeing is massive corruption on leaked information. The traders are now stockpiling dinar based on information released to them by government officials, who plan to prosper off of the advanced information. It means we are close but not quite there yet.

4. One of two things will occur.

A. There will be an investigation of the leaked info and who is responsible. Charges against them for manipulating the market to financially gain from inside information. This is highly unlikely!

B. This will speed up the process as the corruption will be covered and overlooked. The need to expedite the actual change in value will be seen by some to limit the damage and lessen the advantage taken of the uneducated public.