Friday, January 14, 2011

1-14-11 ME Bank news can't be true....

Highlights/Thoughts
1. Florida Dinar is making the point that the bank information in the ME cannot be true because the risk of RVing now with no clear understanding of when Iraq my RV is too high
2. Currency markets would be chaotic due to speculation and would ruin all efforts to revalue Iraq's currency
3. If true, yesterday's auctions would have been in the billions and create a liquidity issue
4. Would have seen extreme movement in the ME stock exchanges

This is an interesting posting.  She makes good points.  What if, however, the banks new the exact date of the RV?  From what she said, that may support their rumored actions.  On point 2, the currency markets can't go crazy with speculation on this, or at least there isn't anything they can do about it right now.  The IQD isn't pared with anything in Forex.  On point 3, are the auctions really a free for all?  Or, would the CBI step in at some point to avoid a liquidity crisis?  Regarding the last point, I posted something yesterday where it showed that Jordan bank's stock was nearing an all time high.  It started climbing significantly just this month.  Hmmmmm???? 
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PLEASE READ, JORDAN CASH IN AT BANKS .by Florida Dinar on Friday, January 14, 2011 at 12:50pm.THERE IS NO POSSIBLE WAY THAT A BANK WOULD THROW GOOD MONEY AT A NON TRADEABLE CURRENCY, WHAT IF IRAQ WAITED ANOTHER 6 MONTHS TO RV. HOW WOULD THE BANKS COVER BILLIONS OF DOLLARS?. NONE OF THIS RUMOR MAKES ANY SENSE, I WONDER HOW PEOPLE CAN BELIEVE THIS NONSENSE, IT IS NOT EVEN RATIONAL, THE CURRENCY MARKETS WOULD GO INTO CHAOTIC SPECULATION AND IT WOULD RUIN ALL EFFORTS TO REVALUE CORRECTLY, DO YOU THINK IRAQ WOULD PUT THEMSELVES INTO THAT POSITION, YESTERDAYS AUCTION WOULD HAVE BEEN IN THE BILLIONS. IT WOULD DRIVE A LIQUIDITY ISSUE INTERNALLY FOR IRAQ. THE CURRENCY MARKETS DONT WORK LIKE THAT. IT WOULD HAVE CREATED HAVOC ON THE FOREX MARKETS, AND WE WOULD HAVE SEEN EXTREME MOVEMENTS ON THE MIDDLE EASTERN STOCK EXCHANGES. PLEASE GET AHOLD OF YOURSELVES AND REALLY THINK THIS OUT. TAKE 10 LONG BREATHS AND COUNT TO 50. WHEN YOU HAVE REGAINED COMPOSTURE, ASK YOURSELVES DOES THIS SOUND EVEN REMOTELY POSSIBLE.

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