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CNBC talking about countries readjusting currencies. .. DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

CNBC talking about countries readjusting currencies. ..

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Post by BritishBulldog Fri Jan 24, 2014 9:43 pm

http://www.cnbc.com/id/101362988

No where do they mention the words RV, Dinar or Iraq but it seems interesting. There is a similar article on Bloomberg. They mentioned several countries specifically...but again to Iraq...but it said it will be done by many countries.

Does it mean anything...who knows. But it will be interesting to see what happens. This could be the start of something or nothing at all...
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Post by Horizon Fri Jan 24, 2014 10:06 pm

This weekend is the end of the Davois summit and after it is over, from what I understand
There will be changes in values of currencies.  
Today the stock market closed 300 down, due to foreign currencies.

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Post by Kevind53 Fri Jan 24, 2014 11:14 pm

I do not anticipate anything coming out of the Davos summit. The World economic forum has several regional meetings every year, and this one which is the world wide conference. The key words here are every year. The World Economic Forum has no sort of regulatory or other power, it is more of a "think tank" of leaders in business and politics with the objective of discussing and proposing initiatives to address world wide issues. 

I realize some have been hyping it up, but I see zero significance to it.

300 points sounds like a lot, and while it is not good news, we have to keep it in perspective. The Dow was about 16,000, so in actuality, we are looking at approximately a 2% loss, within the realm of a normal market correction. While there are some jitters about the possibility of the Fed tapering quantitative easing, the main downward pressure had to do with downright crappy performance in manufacturing and disappointing earnings reports from the last quarter of 2013.

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Post by uglyhorse Sat Jan 25, 2014 4:15 pm

You are right Kevind53! 300 points is nothing. If you see it drop 2000 points or more that is the time to worry!
As for the Feds propping up the dollar with what they call quantitative easing, that will cause the value of the dollar to drop in a drastic way if or when the crap hits the fan! When other countries stop depending on the dollar for world trade that is when this will happen! BRICS anybody?

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Post by Kevind53 Sat Jan 25, 2014 5:22 pm

I do not see the BRICS replacing anything. They all have their own issues, terrorism, unstable economies, etc. Possibly we could see a currency like the British pound, or Canadian dollar or more likely some combination replace the USD, but I would be surprised.

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