Found this posted on another board...........Originally Posted by fredgwest1999
SAW THIS POSTED...
New Rate Maybe After 30 April Imf Meeting See Why
So they have announced that they will raise the rates...sometime after a meeting in May and the rate will move over the rate to 1.27D/USD...
First off: Sell the house...Buy Dinar...JUST KIDDING!!! But they just started a great buying spread on the dinar...WHY???
Could it be that they feel that they have taken enough Dinar out of circulation that this remaining speculation won't matter?
Would they otherwise actually wait that long...look at what kqwait just went through...you think that they were not watching that?
Remember the IMF was to have a meeting at the end of the month (April) with a followup meeting in the middle of May to discuss Article 4 (Currency Exchange)...
I assume that this meeting is...I have read elsewhere...that it's tomorrow...
"The IMF suggested to hold a brief meeting in Amman at the end of this month and another meeting in mid-May to discuss article IV of the Convention;and to complete the current program, the IMF promised to announce the economic developments in Iraq in Sharm el-Sheikh meeting, where it will support Iraq's economic confident steps despite all the challenges faced by Iraqi and that its economic policy is working smoothly with the Fund which reported this to the World Bank."
Tie that in with the press conference at 3PM (Eastern) at the US Treasury with Condi Rice's lead person:
"Senior Advisor to the Secretary of State and Coordinator for Iraq David Satterfield and Department of Treasury Deputy Assistant Secretary for Middle East and Africa Ahmed Saeed will hold an on the record, on camera press briefing on Monday, April 30 at 3:00 p.m. in the State Department's Press Briefing Room."
IMO after the IMF Meeting tomorrow you will see an Iraqi Press Conference with this new rate...several hours later, in Washington, the chief coordinator between the Iraqis and the IMF (plus US Treasury) will hold a telecast press conference to congrats the Iraqis for their bold step to recovery...
WYT???
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The revalue must already be done and simply awaiting announcement.
I agree with the statement I highlighted above. The Minister of Finance has just announced to the WORLD, they are going to significantly revalue their currency. Why on earth would he do such a thing???
Many took these statements made in the middle of last year, as suggesting a lop. However, this statement removes ALL doubt....They are clearly indicating a huge increase in value for their currency...No doubt about it. They are very specific in their wording. This makes no sense, unless this thing is already done AND will be implemented soon.
Combine these statements with all of the other news (Article IV, ICI, etc.) and the smart money will create a run on the
