Med (04:17:07 AM): GM DS I WANT TO BRING UP A COUPLE OF ISSUES

MY SISTER IN LAW WHO ISNT ON THIS SITE CAME OVER WITH MY MOTHER IN LAW YESTERDAY –  ACTUALLY WE HAD A BLAST CINDY WAS AT WORK AND SHE ASKED IF SHE COULD PUT ON ANOTHER SITE SHE WATCHES

SOME MORON WHO CLAIMS TO BE SOME DINAR GURU I HAVE NEVER HEARD OF HIM – BUT THEY WERE LOOKING AT HIS COMMENTS AND TELLING ME ABOUT THEM

THIS GUY CLAIMED TO HAVE SOME INFO FROM SOURCES THAT SAY THE DINAR CAN REVALUE AT THIS MOMENT TILL AUGUST 15TH DURING RAMADAN –

Read More Link On Right

  OK THIS IS IMPOSSIBLE AND HAS BEEN ADDRESSED BY THE IRAQI MEDIA BEFORE

RAMADAN IS A RELIGIOUS CELEBRATION AND IT BEING SO NOTHING IS ALLOWED TO DETRACT FROM THAT –

AND IT WAS EXPLAINED THAT A REVALUE DURING RAMADAN OR A GIFT OF MONEY TO THE PEOPLE OF IRAQ WOULD CHANGE THE ACTUAL REASONS FOR RAMADAN – 

AND THAT IS EXACTLY WHY YOU WILL NEVER SEE AN RV DURING RAMADAN – OR IT AS A GIFT TO THE PEOPLE OF IRAQ

IN FACT IN PAST YEARS THE PEOPLE HAVE GOTTEN NOTHING BUT A BEND OVER FROM THE IRAQI GOVERNMENT  AT THE END OF RAMADAN

THE REVALUE OR THE DELETION OF ZERO’S FROM A CURRENCY IS NOT JUST SAYING TODAY IS THE DAY IT IS A PROCESS AS I EXPLAINED TO MY SIS IN LAW

EVERY COUNTRY THAT GOES THROUGH THE IMF HAS THE SAME PROCESS AND PROCEDURES WE HAVE

YES – NEWS THAT THE DINAR WILL CHANGE THE NOMINAL VALUE BY DELETING THE 3 ZERO’S – BUT TO THE ACTUAL COME OUT VALUE – THAT IS STILL ANYONES GUESS

REMOVING THE ZERO’S IS ONLY SAYING IT WILL BE ONE PENNY AT WORST WHICH IS STILL A PROFIT OF 9K PER MILLION YOU BOUGHT –

IS IT WHAT WE WANT NO – BUT ONCE IT STARTS HOPEFULLY OIL PRODUCTION WILL REACH THE AMOUNTS PROJECTED

BEING THIS IS THE ONLY ASSET RIGHT NOW IRAQ HAS GOLD IS SURELY AN ASSET BUT THEY STILL HAVE LIMITS AND THE NATURAL GAS RESERVES

WHO KNOWS WHAT THEY ARE PRODUCING ON THAT AND NO OIL FUTURES HAVE BEEN SOLD SO FAR

NOW IT IS ESTIMATED THAT IN 3 YRS OR LESS IRAQ WILL PRODUCE WELL OVER 12 MBPD BUT WILL THEN BE FORCED DOWN TO 8 TO 9 MBPD WHICH IS HUGE – WHICH IN MY MIND WILL EASILY CARRY A VERY HIGH RATE OF EXCHANGE

ONE ISSUE THAT IS LOOMING OVER THE DINAR IS SO FAR IT IS ALL TALK AND THE PEOPLE OF IRAQ STILL WOULD RATHER USE THE USD OVER THE DINAR

THE PEOPLE OF IRAQ HAVE TO BE SOLD ON THE IQD THEY NEED TO SHOW CONFIDENCE IN ITS USE FOR PURCHASES WITHIN ITS BORDERS ALSO

OK WE ARE OUT OF CHAPTER VII WHICH RESTRICTED INTERNATIONAL TRADING BUT SO FAR NOONE IS JUMPING IN TO TRADE WITH THEM

THEY STILL ONLY HAVE THE OTHER SMALL 3RD WORLD COUNTRIES WHO THEY ARE MAKING DEALS WITH

THE ISSUE IS THE ARTICLES IN THE IMF ARE IMPORTANT – THEY ARE CURRENTLY UNDER ARTICLE XIV WHICH LIMITS THE DINAR

WE ALL HAVE SEEN THE PAGE ON THE IMF THAT LISTS ALL THE CURRENCIES CURRENTLY ACCEPTED FOR PAYMENT AND FOR TRADE – IQD IS NOT LISTED

IT HAS TO BE THIS MEANS IT IS TRADEABLE AND ACCEPTED AS A WORTHWHILE CURRENCY TO USE TO PAY FOR TRADE AND SERVICES – AND ALSO TO REPAY THE SDR’S THEY WERE AWARDED

WE ALL KNOW THAT ONLY THE USD IS BEING USED BY THE GOI IN ALL FORMS OF PAYMENT INTERNATIONALLY – NOW IRAQ CAN CHANGE THE VALUE OF THE IQD AND USE THAT VALUE INSIDE IT BORDERS

NEXT IS THE 3 MAJOR BANKS WHO MOVED BACK INTO IRAQ AND WHEN THEY MOVE TO ACCEPT THE IQD AGAIN FOR EXCHANGE – THEN WE ARE ON OUR WAY

IF THEY DO REMOVE THE ZERO’S THIS YEAR AS STATED      THEN IT WILL NEED TO BE DONE SOMETIME DURING THE NEW BUDGET IS PASSED OR WHEN REALLY DOWN TO EARTH DISCUSSIONS ARE GOING ON

I PERSONALLY THINK THE LAST QUARTER OF THIS FISCAL YEAR IS THE TIME WE ARE WAITING FOR

I AM ON TOP OF EVERYTHING GOIN ON I JUST HAVE ALLOT ON MY PLATE AND I NEEDED A BREAK OUT IN THE WOODS I THANK YOU FOR THE PATIENCE YOU ALL HAVE A GREAT DAY  MED OUT

AM Kitco Metals Roundup: Gold Gains On Technical Buying, Weaker US Dollar

Forbes41 minutes ago

(Kitco News) – Comex gold futures prices are moderately higher in early U.S. trading Monday, boosted by some fresh technical buying as a fledgling uptrend is in place on the daily bar chart.

Gold Climbs in New York as Weaker Dollar Spurs Investor DemandBusinessweek
PRECIOUS-Gold extends 3-week gain on weak dollar ahead of FedReuters UK

– Following a modest weekly advance last week, gold futures traded higher in the early part of Monday’s Asian session as a potentially volatile week for the yellow metal looms.
On the Comex division of the New York Mercantile Exchange, gold futures for September delivery rose 0. 56% to USD1,329. 35 per troy ounce in Asian trading Monday after advancing 0. 69% last week.
Gold futures were likely to find support at USD1,295. 45 a troy ounce, the low from July 21 and resistance at USD1,375. 85, the high from June 19.
Gold faltered a bit last Friday amid some decent U. S. economic news. In U. S. economic news out last Friday, the Thomson Reuters/University of Michigan final index of consumer sentiment for July rose to 85. 1 from 84. 1 last month. Economists expected a July reading of 84. The initial July reading was 83. 9.
Comex gold prices rose to an almost five-week high of USD1,347. 85 a troy ounce on Tuesday, a day after a weaker-than-expected report on U. S. home sales fueled market talk that the Federal Reserve will keep stimulus measures in place for now.
The Fed releases its monthly monetary policy statement this week, an event that has the potential to be the deciding factor in gold’s near-term fortunes. Earlier this month, Fed Chairman Ben Bernanke assuaged gold bugs by saying the central bank will keep its accommodating monetary policy in place for the foreseeable future.
However, still fresh on the minds of some gold traders are comments Bernanke made in May that sent the yellow metal tumbling.
Gold will also be in focus ahead of the release of the U. S. non-farm payroll report for July on Friday. Last Thursday, the U. S. Labor Department said initial claims for jobless benefits rose by 7,000 to 343,000 last week. Economists expected a reading of 340,000 new claims. The unemployment rate among people eligible for benefits dropped to 2. 3 percent in the week ended July 13 from 2. 4 percent the prior week, according to Bloomberg.
Elsewhere, Comex silver for September delivery advanced 0. 52% to USD19. 873 per ounce while copper for September delivery fell 0. 36% to USD3. 093 per – offers an extensive set of professional tools for the Forex, Commodities, Futures and the Stock Market including real-time data streaming, a comprehensive economic calendar, as well as financial news and technical & fundamental analysis by in-house experts.
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South African Rand to US Dollar (ZAR/USD) Exchange Rate – Rand weaker on …

Future Currency Forecast2 hours ago

The South African Rand has weakened against the US Dollar, Sterling and the Euro after the South African Reserve Bank revealed that the nation's payments balance for the second quarter of 2013 posted a deficit of R15.15 billion.

– The U. S. dollar traded lower against nearly all of its major rivals during Monday’s Asian session as traders prepare for what could be a volatile week in the currency markets ahead of important commentary from global central banks.
In Asian trading Monday, EUR/USD rose 0. 06% to 1. 3288. The euro gained almost 1% against the greenback last week after after data showed that the Ifo index of German business climate ticked up to 106. 2 in July from 105. 9 In June, slightly better than expectations for a reading of 106. 1.
Earlier in the week, data showed that the euro zone composite purchasing managers’ index rose to 50. 4 in the current month from 48. 7 in June, on the back of stronger data from Germany and France.
USD/JPY fell 0. 27% to 98. 04, a move that pressured Japanese equities in the process. The yen has been rising in recent sessions as tepid U. S. data has fueled demand for safe-have currencies beyond the greenback.
In U. S. economic news out last Friday, the Thomson Reuters/University of Michigan final index of consumer sentiment for July rose to 85. 1 from 84. 1 last month. Economists expected a July reading of 84. The initial July reading was 83. 9
Last Thursday, the U. S. Labor Department said initial claims for jobless benefits rose by 7,000 to 343,000 last week. Economists expected a reading of 340,000 new claims. The unemployment rate among people eligible for benefits dropped to 2. 3 percent in the week ended July 13 from 2. 4 percent the prior week, according to Bloomberg.
GBP/USD rose 0. 06% to 1. 5395 while USD/CHF fell 0. 08% to 0. 9277. USD/CAD dropped 0. 08% to 1. 0270 even as oil prices traded slightly lower.
AUD/USD inched up 0. 04% to 0. 9267 after China’s National Bureau of Statistics said Friday that profits at Chinese industrial firms rose 6. 3% in June.
NZD/USD rose 0. 05% to 0. 8087 on the same news. China is the largest export market for Australia and New Zealand.
The U. S. Dollar Index fell 0. 11% to – offers an extensive set of professional tools for the Forex, Commodities, Futures and the Stock Market including real-time data streaming, a comprehensive economic calendar, as well as financial news and technical & fundamental analysis by in-house experts.
Read more News on or Follow us on Twitter at @InvestingCom