Thread: Iraq/Dinar News. 09/05 to 01/14/07

Originally Posted by shotgunsusie

i think its a standard chart they look at which gives them rates for each day. you gotta remember that is the rate they sell it at which gives them some profit. it is called the 'spread'.

Just a side note for UK Speculators. Here in the UK - to the financial world - those who work in 'The City' - it's known as 'the touch'. I.e. to Traders, stockbrokers, merchant bankers etc. Bare this in mind when speaking to your Bank Manager. Referring to 'the touch' you'll come accross informed.

I honestly don't know if it is the same for the US (Wall Street) - someone there may wish to check that out.

Originally Posted by Seaview

Just a side note for UK Speculators. Here in the UK - to the financial world - those who work in 'The City' - it's known as 'the touch'. I.e. to Traders, stockbrokers, merchant bankers etc. Bare this in mind when speaking to your Bank Manager. Referring to 'the touch' you'll come accross informed.

I honestly don't know if it is the same for the US (Wall Street) - someone there may wish to check that out.

Are you saying that ´the touch´ is the same as ´the spread´ which is the profit margin a bank makes on a currency transaction ?

Sorry to be so slow.......

Originally Posted by shotgunsusie

they paid 1441 for the dinar, they charged you 1334, they made 107 dinar off your transaction PER DOLLAR. 16050 dinar is what you paid to buy those dinar you just got. thats what the 'spread' is all about. its the way the banks make money from doing business with investors.

How can the CBI still show 1441 and they are selling at 1335 .... I thought everybody went based on what rates CBI shows????

Originally Posted by CharmedPiper

How can the CBI still show 1441 and they are selling at 1335 .... I thought everybody went based on what rates CBI shows????

I suspect the site just has not been up-dated yet. I believe you will see an even more radical change come Monday/Tuesday. No solid details yet, but will post when confirmed

gloribee

Originally Posted by MOM2TWO

Shiites, Sunnis, and various terrorist groups; it is not like WWII when the Nazi's were in plain uniform, stating who they are and what they stood for. So, these people/terrorists appear as average everyday citizens.

Would any govenment allow the potential danger of giving the "wrong" person/group a large sum of money..i.e. 10,000 dinar. If the dinar was to rv at even 1:1 that could provide substantial funding for even more violence. Yes?

Perhaps this topic has been brought up before, and I am hoping someone out there, can get this looming thought out of my head.

Thanks in advance!!

If the dinar became worth a buck or more a lot of these guys would take the money and run! Iran and Seria are providing all the money the bad guys need-along with the weapons! With a reval and foriegn investement providing good paying jobs a large percentage of the insurgents would simply get a job. Of course a lot of them are maniacs and would continue the fight. But there would be a lot less of them. Give the Iraq's something to lose IE a good job, a good life and the insurgency will strangle. The RV is the last weapon in the arsonall against the bad guys. Just my opinion.

Originally Posted by CharmedPiper

How can the CBI still show 1441 and they are selling at 1335 .... I thought everybody went based on what rates CBI shows????

The international currency manager told me that they don't have to use the same rate as the CBI. There can be a different rate that the banks buy/sell from what the CBI buys/sells at. It not that much different, but it's how they make their money.

Originally Posted by laurenr

Are you saying that ´the touch´ is the same as ´the spread´ which is the profit margin a bank makes on a currency transaction ?

Sorry to be so slow.......

In it's 'most basic' form 'yes'. It can get a little more complicated than that.

Originally Posted by Seaview

In it's 'most basic' form 'yes'. It can get a little more complicated than that.

when it gets more complicated, instead of calling it the touch, do they call it the caress, or the rub?

So, when the CBI updates tonight....if we see 1350 or less....does this mean a reval or continue on the downward trend????

Originally Posted by crave681

when it gets more complicated, instead of calling it the touch, do they call it the caress, or the rub?

- I walked right into that.

Just trying to help you with a little 'in-house' lingo. I presume you want to come accross informed so your not taken advantage of - that's all.