Pimpy

  In Pimpy's Investment Chat 

Obviously there is some news out there that people are concerned about and losing their mind over.. Article: “Current Iraqi dinar peg will continue for next four years” Let me tell you one thing. The last time they said this was in 2014 that they weren’t gonna do any rate change for the next five years, guess what? They didn’t do a rate change for the next 5 years…Is it possible that they’ll actually wait four years? Yeah. Of course it’s possible. Seriously, that country is starting over from scratch.

Is this set in stone? No. Is it possible instead of waiting 4 years they might change the exchange rate before then? Yes. There are other factors out there that can cause them to change it ahead of time…they might be trying to get more people to turn in their dinar because they just give up…I will say this. Before the Kuwait dinar revalued they came out on the news and told people that the rate change wasn’t going to happen for a long time. Having said that I don’t want you to get your hopes up too high thinking that this was going to happen…don’t get overly excited about good news. Don’t get overly down about bad news…we just pay attention to what they’re doing.

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