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Today in the chat, I mentioned a phone conversation my husband had with a friend, Haroon, who now lives in KC MO but is from India. He has been to Dubai himself many times, and he understands how government and finance works over there.
Haroon is a "research junkie" who reads the Wall Street Journal cover to cover everyday. To give you an example of his knowlege, he told my husband that Nestle (my husbands employer) was going to buy Gerber 6 months before it was ever public. He also researched the Presidential election and knew which candidate was going to win each and every state and he was correct on all. Those are two examples of his predictions from his research.
A couple weeks ago, about the time we were getting the same information from medic, my husband told Haroon we were holding some Iraqi dinar. Haroon told my husband that the RV is very soon, and that it will be between $2-$4. The whole time Medic and Haroons information has lined up. So I have complete confidence in everything Medic has shared with us.
Today, my husband called Haroon and asked him about the dinar again, knowing he knows people in Dubai himself. The following is what Haroon stated... The reason the dinar has not had an RV is because Chapter7 has not been removed. According to chapter 7 it is against international law to conduct business with Iraq until it is lifted. He said all the countries that have contracts signed with Iraq cannot legally do business there until it has been lifted.
He read an arcticle dated July 5th that stated that Kuwait is asking the UN to lift chapter 7. He feels after his research that it is just a formality to be lifted and will be done this week at the UN meeting.
He then proceded to explain why it would RV this Friday Sat, or Sunday provided the lift of chapter7. The reason it will Rv on our weekend is because Iraq feels there are more sellers than buyers of the dinar. So they do it on a weekend to keep the transactions world wide lower than if all world banks are open for business. So it is done on like a rotation basis worldwide. Otherwise the dinar would plumit.
He also stated that if it is true of the 4% flucuation up or down, this will keep the dinar stable within 4%. And how they do that is they have countries lined up to buy or sell dinar, whichever is needed to keep it within 4% of the original value.
He also said the reason they want to take the large denominations out of circulation is because of criminal activity, i.e. drugs, guns, etc. He stated if it was in circulation and if you went into buy a candy bar and a soda, they wouldn't be able to make change for a 25K note. (That is just an example.)
He stated their weekend is our Thursday and Friday, so if you think about it, it does make sense about the rotation of the banks.
Haroon also feels that the RV rate will be equal to Kuwaits currency rate right now or slightly below, but not higher. He thinks .10-.20 lower which would be 3.30-3.40.
Remember this is a rumor site, and just FYI Haroon holds no dinar. Just a real good friend.
His information has always lined up with Medics. And they both agree on Chapter 7.
And IMO, I feel the oil companies are probably lobbying for chapter7 to be released as well, since they have signed contracts, but can't touch the oil until it is lifted according to international law.
Now this is a rumor site, and please don't stone me if it isn't this Friday, but he feels it will be the Friday after Chap 7 is lifted, whenever that may be.
Today in the chat, I mentioned a phone conversation my husband had with a friend, Haroon, who now lives in KC MO but is from India. He has been to Dubai himself many times, and he understands how government and finance works over there.
Haroon is a "research junkie" who reads the Wall Street Journal cover to cover everyday. To give you an example of his knowlege, he told my husband that Nestle (my husbands employer) was going to buy Gerber 6 months before it was ever public. He also researched the Presidential election and knew which candidate was going to win each and every state and he was correct on all. Those are two examples of his predictions from his research.
A couple weeks ago, about the time we were getting the same information from medic, my husband told Haroon we were holding some Iraqi dinar. Haroon told my husband that the RV is very soon, and that it will be between $2-$4. The whole time Medic and Haroons information has lined up. So I have complete confidence in everything Medic has shared with us.
Today, my husband called Haroon and asked him about the dinar again, knowing he knows people in Dubai himself. The following is what Haroon stated... The reason the dinar has not had an RV is because Chapter7 has not been removed. According to chapter 7 it is against international law to conduct business with Iraq until it is lifted. He said all the countries that have contracts signed with Iraq cannot legally do business there until it has been lifted.
He read an arcticle dated July 5th that stated that Kuwait is asking the UN to lift chapter 7. He feels after his research that it is just a formality to be lifted and will be done this week at the UN meeting.
He then proceded to explain why it would RV this Friday Sat, or Sunday provided the lift of chapter7. The reason it will Rv on our weekend is because Iraq feels there are more sellers than buyers of the dinar. So they do it on a weekend to keep the transactions world wide lower than if all world banks are open for business. So it is done on like a rotation basis worldwide. Otherwise the dinar would plumit.
He also stated that if it is true of the 4% flucuation up or down, this will keep the dinar stable within 4%. And how they do that is they have countries lined up to buy or sell dinar, whichever is needed to keep it within 4% of the original value.
He also said the reason they want to take the large denominations out of circulation is because of criminal activity, i.e. drugs, guns, etc. He stated if it was in circulation and if you went into buy a candy bar and a soda, they wouldn't be able to make change for a 25K note. (That is just an example.)
He stated their weekend is our Thursday and Friday, so if you think about it, it does make sense about the rotation of the banks.
Haroon also feels that the RV rate will be equal to Kuwaits currency rate right now or slightly below, but not higher. He thinks .10-.20 lower which would be 3.30-3.40.
Remember this is a rumor site, and just FYI Haroon holds no dinar. Just a real good friend.
His information has always lined up with Medics. And they both agree on Chapter 7.
And IMO, I feel the oil companies are probably lobbying for chapter7 to be released as well, since they have signed contracts, but can't touch the oil until it is lifted according to international law.
Now this is a rumor site, and please don't stone me if it isn't this Friday, but he feels it will be the Friday after Chap 7 is lifted, whenever that may be.
