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Friday, November 28, 2014

KTFA CHAT UPDATE, 28 NOV

KTFA:

w8tn4it2rv » November 28th, 2014, 12:36 pm  U.S. Dollar Index    88.31
http://www.marketwatch.com/investing/index/dxy

Also take into consideration they are going to raise the value of the dollar to $0.90 soon. When the dollar rises commodities go down.

DrDinar:  Who said they were going to raise the value of the dollar?

w8tn4it2rv :  Dr Dinar IMO for it to be a 1-1 rate or 0.9 - 0.9 the dollar needs to be at 90 cents. The dollar is climbing right now and will most likely close today around $0.89 . Then next week go to $0.90.

notthe1 :   IMO ... Sunday 11-30 index 89 ,,... Monday 12-1 ... index 90 ... then ...BINGO!

w8tn4it2rv :  I'm in agreement with you looking more to Tuesday though.
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billuke » November 28th, 2014,

Oil Price Drop After OPEC Decision Is ‘Terrible’: Iraq Minister

By Nayla Razzouk and Rupert Rowling Nov 28, 2014

The plunge in crude prices after OPEC’s decision to keep its production ceiling unchanged is “terrible,” according to Iraq’s oil minister.

Brent crude, the global benchmark, fell the most in more than three years after the 12-member group completed talks and traded at $72.50 a barrel in London today. That’s 29 percent less than the $102.20 Iraq needs to balance its budget, according to International Monetary Fund estimates.

“We are trying to follow up what is going on, then we will assess the whole issue,” Oil Minister Adel Abdul Mahdi said in an interview today in Vienna. “I already had a meeting with my team. We will try to put the right policy to face the situation.”

Iraq is the second-largest producer in the Organization of Petroleum Exporting Countries, which left its daily output target unchanged at 30 million barrels yesterday. The group considered a cut of 5 percent in production, Abdul Mahdi said after the meeting.

Iran’s Bijan Namdar Zanganeh said the decision wasn’t what his nation had wanted and Venezuela favored a cut, according to Rafael Ramirez, the nation’s OPEC representative.

Oil tumbled into a bear market this year as the U.S. pumped the most in more than three decades and conflict in the Middle East and Ukraine failed to disrupt supply. The group produced almost 1 million barrels more than the ceiling last month, data compiled by Bloomberg show.

Iraq pumped 3.3 million barrels a day last month, data compiled by Bloomberg show.

http://www.bloomberg.com/news/2014-11-28/oil-price-drop-after-opec-decision-is-terrible-iraq-minister.html

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drdonar :   We'll that doesn't sound very good for us.

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s41755k » I team told Frank watch for a Neg. Article to come out first...then! just like China then 3 days later BOOM!!! IMO

Even if this is not the article it's all good! the written is on the wall its coming and everyone should start looking.... the glass is not half full but 99.9% full! once again IMO

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Terry43 THAT'S what I wondered, too! It also seems to me that, the more revenue that is lost by lower oil prices, the more likely that that loss in revenue could be made up by an increase in the value of their IQD. Hmmm!

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Andy5252: 
 i would agree with your thinking in my opinion and a higher rate would be needed to make up for the lower oil price

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Toyvp:   IMO it forces them to do so even more, with their current program rate being so low it makes there currency very weak and if they were to RI there currency now it would be strong and offset their current budget deficit then there would be no need to borrow from the CBI. I see this as a classic CHINA SYNDROME

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Aggiedad77: 
 Well, on the other hand, I for one.....with this particular article....wouldn't put a great deal of stock to it.....to me it is very generically written, no one from the CBI is taking credit for this piece......rarely do they ever put out information just from the "CBI" itself.....they almost always will put a name to the article to help lend credible credence to what is being shared. This article doesn't do that.....I would suggest waiting to see what IF anything else is forthcoming from the CBI "officials" to back up what this is saying....remember we are dealing with the Iraqi media here.....don't be too quick to judge based on the surfacing of just a single article.  Aloha   Randy

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22coconuts22 : 
 I just read that oil prices just fell below 70. Just wondering what/if that still plays a role with Iraq and their revalue.

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Frank26:
   OPINIONS are a Human's Rights ....... OR WRONGS ! Here is mine on Your qt:

Oh hades YES!

It is not a direct connection of oil ......... It is an INFECTION from it that IMO is Great Pressure from .......... Whoever LOL.

KTFA,  Frank

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