_AJ’s Intel 01-30-12 Monday at 10:27 am
Hello Friends and Foes,
At 10:40 pm last night, we have the USD up slightly by .18 @ 79.01, so the so called "lock down" of the UST is doing marginally some good.
Crude is down .50 @ 99.06, Gold down 6.10 @ 1731.20, Silver down .56 @ 33.46
At 8:15 this morning we have the USD up slighly again by .55 @ 79.38, so again the UST is doing marginally some more good.
Crude down .96 @ 98.60, Gold down by 10.50 @ 1726.80, Silver down by .72 @ 33.27 kitco.com/markets/
The Euro against the USD is at 1.30905 up from last week.
No change on the CBI for the IQD, still at 1166. and 1164.
The IQD on the exchange rate is at .0008568 down from yesterday.
Read More Link On Right
The article above in my opinion is smoke in one respect, but good news in other respects. It claims that high inflation will result if an RV is done. I disagree with that as it should curve inflation.
The article also gives some exchange rates for larger amounts of Dinar for lower dinar, which in effect is a LOP with no compensation to the Iraq People.
I agree that the People of Iraq will not stand for that as they will just keep on using the USD for their everyday needs.
The article states; “The CBI (central bank of Iraq) has received widespread criticism surrounding the following plan:
•200,000 dinars exchanged for 200 dinars.
•100,000 dinars exchanged for 100 dinars.
•50,000 dinars exchanged for 50 dinars.
This will not result in a country of 32 million becoming wealthier nor poorer - it will result in the banks exchanging 200,000 dinars for 200 dinars.
This plan will make money for no one, not even the UST and that is why it will never happen and is the reasons why it is getting widespread criticism.