Friday, January 21, 2011

Whats Happening with Iraq and The Dinar?

Good Morning
The Iraqi parliament is shut down until Jan30th,2011
Members of the parliament including  Pres Talibani were at a Middle East conference in Egypt this week were they revealed they could have on reserve 500 billion barrels of oil.Iraq is currently producing about 2.6 mil a day.
I have also reports of some action on some of the Forex Markets.No price move just seeing rate being refreshed  every min or so.
There is also the Arab Summit coming up at the end of March and Iraq is hosting it.The speculation is that Iraq will want a Tradeable currency before then .
 So we are getting some positive news here,but please don't buy any more Dinar because of it .This is still  Speculation,Only ever buy what you can afford to lose like all investments.


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