Lets see…………..Just this year alone the CBI has put out one million articles saying that they are going to remove the 000’s from their currency. We know that this is the wrong move to make economically…….it would just lower the IQD’s value along with neutralizing it. What good does that do for a currency that is already lower than the belly of a snake? Logic says that it wants to have a growth …….not a regression. So we pretty much ignored the 000’s articles. We even customized them to say that they wanted to remove 000’s from the exchange rate ………not the dinar face value. IMO …………these million marching articles were………….a waste of time. They were created to communicate confusion and distrust……………but it did not work. I talk to many daily and not one said ……………I’m turning in my dinars because they are claiming to LOP……………NOT ONE! Now we see S coming out of the CBI saying …………000’s? We don’t need no stinking 0’s!…………LOL. All this time we have been given CBI experts interpretations of what they think is good for the IQD…….such as a LOP. Once again ……..rarely if ever take heed to what they say……..focus on what they do. They didn’t do anything did they………just talked up a storm. So today’s article once again tries defiantly to convince us of more deception. More lies………such as ……….Iraq is suffering from high inflation at the moment. NOT!!! Even their secondary lies do not support their first lies. Don’t pay attention to anything they say that leaves a negative thought on the reinstatement of their IQD. Iraq has been in single digits with inflation for a very long time now. All of this year and all of last. Well maybe January ’09 was in the double digits but I can’t remember. All I know is that for them to say they do not want to remove the 000’s because they are suffering with high inflation is simply not true. Hard to believe anything that comes out of the CBI. IMO………..we are used to this. Here is the article I was talking about.
Date: Thu, Apr 1, 2010 at 10:42 AM
Subject: Three zeroes on Iraqi currency won't be removed
Three zeroes on Iraqi currency won't be removed:
Three zeroes on Iraqi currency won't be removed: source
Thursday, April 1st 2010 2:45 PM Thursday, April 1st 2010 2:45 PM
Baghdad, April 1 (AKnews) - Iraq's central bank denied on Thursday the reports that talked about its decision to cancel three zeroes from the Iraqi currencey.
The central bank will not cancel three zeroes from the Iraqi currency at this time to reduce inflation suffered by the Iraqi economy .... Canceling the zeroes will make things more complicated and would cost the state large sums of money and enormous economic cadres to implement this project. "The head of the Central Bank Sinan Al-Shabibi told the Independent National News Agency of Kurdistan (AKnews
This won't be applied at our current time. The central bank and Finance ministry will adopt rational solutions to reduce inflation that Iraq is suffering from currently because some important governmental institutions misused the money," Al-Shabibi added.
"Removing the zeros from the currency will reduce the level of the Iraqi dinar in accordance with the American dollar."
Many members of the parliamentary Economic Commission urged the Central Bank and the Finance Ministry to address the Iraqi decreasing funds by removing the three zeroes from the Iraqi currency.
Family we have a team member that is paying close attention to movements on many different counters. Last night and this morning there were some interesting activities. When you call these sites and ask for an explanation they tell you that there was an error in their posting. Calculations were not being done and to please forgive the error. Yeah…..whatever. We should all be good little boys and girls and say thank you very much. Then call a market expert and ask their opinion. Below is a summation of the last 24 hr activity and the brokers opinion. Please enjoy:
In looking at the market. We look at fluctuations. Markets will go up and down sporadically before a currency change will occur. In fact we know whales may have an opportunity. Please note the fluctuations below in the last three days
The reflection above shows someone somewhere was trying to say something. The fact that it dipped from toilet paper to already used TP and then after so many hours moved up a little is indeed interesting. Now if we would talk to someone who works with markets they would say it is a force of hands meaning the value of IRAQ's worth for approximately 14 hours was where someone could steal it and they could essentially wake up to nothing.
Family……..BRASS is working on another side of the market. Tonight I have been invited to have dinner with FERGIE and ROSIE and BLESSEDMA1. I will not be able to answer your questions tonight. But I want you to read the following and get a good understanding of what is going on with the S&P. Then if you wish to discuss this ……..please ask BRASS any question that you want on this subject. I told him to be ready to help you tonight. Please enjoy.
This is significant.... This is indication that the "market" sees something in the horizon that will cause the S&P to move higher...
19 billion in short positions covered in a single week...... Even though the fundamentals are indicating nuetrel to a down cylce... Even though
the S&P is up 10% in March..... Follow the money....
(Thanks to Bulldog777 who brought this information to my attention)
Capitulation: Biggest Weekly Spike In S&P Large Contracts On The CFTC In History
- $19 Billion In Index Shorts Covered
Submitted on 03/28/201021:34 -0500
The chart above is an indication of the net speculative contracts on the CFTC as disclosed by the weekly COT report. In particular, this tracks the S&P Large contracts (x 250). Last week saw the single biggest weekly short cover in the history of this data set, indicating one of several things:
1) some large fund(s) capitulated and covered a major short position,
2) the ongoing forced short buy-ins by the State Streets of the world have finally yielded results,
3)someone is positioning for a massive move higher in the market by going net long to neutral.
The net weekly change in contracts of 66,043 is a record, and involves a staggering amount of capital: the money involved is 1,150x250x66,000 or roughly $19 billion. A weekly move of this magnitude was only ever seen once before, on March 24, 2009, when the government had to cement the bottom of the market following the 666 low. As the Large uses Open Outcry, it explains why we were getting numerous emails from pit traders indicating that Goldman was buying up billions worth of S&P Large.
We let readers make up their own minds as to whether last week's record short covering surge is a cause to the recent melt up in the market, or an effect to an imminent spike in the S&P.
Market Headed To New Highs As Major Buyer Remains Active...
"Mystery Buyer" surfaces yet again to buy the market aggressively in the face of major selling across the board. As we mentioned yesterday, this buyer has been extremely aggressive on the bid since SPY 107, showed up yesterday into the
close as the market was about to roll over, and is clearly indicative of either someone with information and/or someone who just wants to take the market higher regardless of any fundamental news. This is a very powerful player in the market and you can actually watch them actively on the SPY bid using Level 2 and
Last Sale. As we outlined yesterday, this is a buyer we absolutely need to respect due to the intensity and longevity of the buying pressure he exhibits, and because of today's action/signal we covered our short positions during the final hour for small gains and are now looking to get long as we believe this market is now headed higher...possibly to new highs.
The type of action we've seen on this market pullback is extremely similar to the action we saw back in Feb-March 2007 when after a run from DOW 11,000 to 13,000 a severe sell-off in Chinese markets caused the DOW to drop over 400 points in a single day and brought in an enormous amount of shorts into the market believing the market had topped. A couple of months later the DOW was setting new highs
and on its way to 14,000. During the course of that sell-off we continued to see a relentless buyer very much like what we are seeing now.
Now fundamentally should this market be headed higher? Not in my opinion, but I respect the tape much more than fundamentals or technicals. The action we've seen over the past
couple of weeks is clearly indicative of someone accumulating an enormous amount of SPY shares, and we know this is for a reason.
Powerful players buying billions of dollars of SPYs or S&P futures over the course of several weeks do not place bets in the markets based on hunches, it is very much based on information or the sheer power to squeeze shorts and take the market higher.
Today was a very strong signal that this buyer is relentless on the bid, and will probably be buying aggressively on each and every pullback...this is not the sort of action we like to see when we are holding short positions. Watch for a break of that 1110 level on the S&P, which as we outlined in yesterday'smarket summary is probably where this buyer wants to take the market.
Last night in my postings to you I answered many of your questions and told you in one response that A and M were meeting to lay out the foundation for their newly elected government. Their work is not finished. Also……..M is still determined to be claimed the winner of power in the parliament seats. Some of Allawi’s party members have been arrested because M claimed them to be ………bad guys. IMO……..M lost the opportunity for his party members to be victorious. He is supposed to be working in harmony with Allawi’s new party members…….this way he can be appointed PM by the other parties. M reminds me of the guy who likes to hit his thumb more often with the hammer ……….than the nail. IMO……these activities only equal………delays.
Our meeting with the political figure has been moved to Tuesday night. His wife is being medically treated in the US and a last minute adjustment to the schedule was made today. It will give us time to add additional constructive questions to the list. By the way our first question…..rate and date……..we do not expect an answer. But we expect this question to stimulate his inquiries so that he can better learn about what the CBI is doing to his currency. There is purpose in all of the questions.
It was only supposed to last two weeks ………LOL! I told you to look yesterday and I’ll tell you today that the barrel of oil is $84.99. What did I tell you concerning $90 back in December?
Last night was very successful with our guest WIGO. I saw all of your questions to him and am very pleased that he helped you with all of them. Based on all the phone calls and emails from yesterday and today……..I would say DD will be getting over 200 customers for the Utah office just from last night’s conversation. God bless you WIGO and Ali as you work together to help people exchange in Salt Lake City, UT.
Finally………an article today says that the 2010 budget is having discord……..no kidding………..give us the rate and maybe they won’t. They say that 40% of the projects have already been started ………..but where’s the rate? I don’t know………I’m waiting for it too. One last thing………the Kurds are ready to annex their city’s vast oil wealth. That really smells like an article worth about ………….140.
I have to go get ready for our dinner tonight. Please enjoy the articles that our newshounds tear apart for you because there were many good ones today. Thank you for my dad’s well wishes yesterday for his birthday. QUEST33……..yes ……….all of you at KTFMissions are my Family. Yes ………..as a father looks after his children…………so do I with you. My Christian love and Alohas.
__________________ Hebrews 11:1 Now faith is the substance of things hoped for, the evidence of things not seen.