"To improve the functioning of foreign exchange auctions, we plan to develop organized exchange markets outside the central bank, including an interbank foreign exchange market," it said.
"Our aim is to establish a forward market in Iraqi dinars in the near future."
More misinformation from the pumpers. A lot of the due diligence experts claimed that this “Forward Market” Iraq is talking about means they are going on the FOREX. Well… it’s amazing just how many times these guys can be wrong… or lie… neither is good for investment advice.
http://en.wikipedia.org/wiki/Forward%5Fmarket The forward market is the over-the-counter financial market in contracts for future delivery, so called forward contracts. Forward contracts are personalized between parties.
Over-the-counter (OTC) or off-exchange trading is to trade financial instruments such as stocks, bonds, commodities or derivatives directly between two parties. It is contrasted with exchange trading, which occurs via facilities constructed for the purpose of trading (i.e., exchanges), such as futures exchanges or stock exchanges.
So the facts are the exact opposite from what the gurus claim... the FACTS are Iraq is actually telling you that the dinar will not be on the FOREX.
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