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Breitling -- Iraq basically told everybody they want to get the value of their currency to $3.25.

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Post by Ponee Thu Jul 02, 2020 9:13 pm

 Breitling 


 ...they're worried about regionally having a currency that's valued too high.  The pressure cooker they're in is that they need to add value to their currency otherwise they're going to go broke.  If they add too much value to their currency they are going to go broke.    That's just the reality.  But what people don't understand is that other countries are in the same position...Iraq basically told everybody they want to get the value of their currency to $3.25 [Wait a minute, you just said if their currency is too high in that region they are going to get their asses handed to them.]  That's true.  But if their currency was a global currency, then it wouldn't matter would it...   




...Take for example the United States and Mexico.  How much is their peso worth.  Look at Canada...If Iraq is international they could have a huge high price.  But if they're going to be local for right now, regional, then they can't go that high...Let's say their markets are going to be regional and they do add value to their currency it helps them get to international markets.  Well if they're in international markets and it becomes more and more dependent on international markets you're going to see the value of the currency keep going up...If it's regional...they're never going to get past a buck..


..they are looking at how to tackle the financial problem they have inside of Iraq. They looked at the reserve and they said, 'they probably could take out 11 billion dollars worth of the reserve and not really hurt the value of the currency and to be able to fix some of our problems.' But you have a completely different group saying 'you don't need to do that. Let's protect our reserve. Add value to our currency. And invest in the Western markets.'...these guys will never give you rates...they'll always avoid giving some sort of rate...you and I know what they need for the budget - for it to succeed. My projected budget for what they needed at $53 to $56 a barrel was about 56 cents to the dollar. Now it's about .63 cents to the U.S. dollar...see the trend? It's going up...




07.02.2020

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