There’s an article that stated that they were thinking about devaluing the Iraqi dinar so instead of getting 1190 dinar for every dollar you’ll get somewhere between 1200 to 1400 dinar for every dollar. That’s going in the opposite direction of where we wanted to go…this is just economists. That’s all they are. These are economists making recommendations … it doesn’t make any sense to me. I’m not an economist don’t get me wrong but at the same token it doesn’t make sense to me…if there’s truly a shortage of Iraqi dinars in Iraq wouldn’t it make sense then to increase the value of the dinars? This would get people who are holding dinar to turn their dinar over then these would come back into Iraq…increasing the rate makes more sense.
I had a feeling…that there would be a lot of discouraging news about the dinar that would come out first before the actual action of the dinar and this seems to be part of that news. And don’t be surprised if we don’t get more. I really think there’s a bigger picture coming…we don’t care about what they say, we care about what they do. People are saying, well how do you feel? You panicking? No, I’m not. Even if the rate did decrease for whatever reason…to me that’s nothing. I preach this all the time, buy on the dip…if they lower that just means I get more dinar for my dollar.