PHOENIX CHAT - Gold Rush

[20:18] Phoenix3333: ok hi all
[20:18] Phoenix3333: everyone see the odd value on WF for the KWD?
[20:19] Phoenix3333: This am the Kuwaiti dinar was at $3.49 and right now Wells Fargo is showing $3.90 for the Kuwaiti dinar
[20:19] Phoenix3333: link to convertor https://www.foreignexchangeservices.com/ordercurrency/order.html?partnerid=FES
[20:20] Phoenix3333: that is a .30+ jump
[20:20] Phoenix3333: and on a Bank converter
[20:21] Phoenix3333: now the other converters are not showing it
[20:21] Phoenix3333: other
[20:21] Phoenix3333: so we are starting to see odd things pop up as would be expected
[20:25] Phoenix3333: all I know is we have a bank site with a change in an exchange rate and a BIG change
[20:25] Phoenix3333: a .40 uptick is a major revaluation
[20:25] Phoenix3333: could it be glitch?
[20:25] Phoenix3333: maybe
[20:26] Phoenix3333: but this is Wells Fargo....not so FX converter site
[20:26] Phoenix3333: some
[20:26] ronron: Today's Sell Rate 1 dinar (KWD) = 3.9038 U.S. dollar (USD)
[20:26] Boom: Bahrain Dinar is also up from 2.64 to 2.94
[20:29] Phoenix3333: good catch boom
[20:30] ronron: Today's Sell Rate 1 dinar (BHD) = 2.9443 U.S. dollar (USD)
[20:30] Boom: Saudi is down to 3.37
[20:31] Supernatural1: Very Nice
[20:31] Boom: from 3.75
[20:31] Phoenix3333: ok let me chech some thing
[20:31] Boom: .40 difference
[20:32] Phoenix3333: ok that would be .2959 for SA
[20:32] ronron: Today's Sell Rate 1 riyal (SAR) = 0.2959 U.S. dollar (USD)
[20:32] Phoenix3333: so that is UP .02 for SA
[20:33] Phoenix3333: ok UAE is up also to .3022
[20:33] Boom: according to xe.com Saudi is 3.75
[20:33] Phoenix3333: that is up .03
[20:34] Phoenix3333: Qatar is up also
[20:34] CASHINN: Come on Iraq!!
[20:34] Phoenix3333: to .3048 that is up .03
[20:35] Phoenix3333: so we are seeing up ticks
[20:35] Phoenix3333: major upticks
[20:37] Phoenix3333: this has not even gotten started yet
[20:38] safetymankwj: so it looks like a 10 to 15 % increase across the board with a few exceptions
[20:40] Phoenix3333: a movement of .40 is a revaluation
[20:40] Phoenix3333: BUT
[20:40] Phoenix3333: until we see more
[20:41] Phoenix3333: we are just watching one bank
[20:41] Phoenix3333: BUT Wells Fargo is a major player in the Iraqi Dinar and the middle east
[20:41] Phoenix3333: so what we are seeing is the start
[20:41] Phoenix3333: just a few early oddities
[20:42] Phoenix3333: so so far we are seeing all of the GCC nations moving
[20:43] Phoenix3333: so this is good
[20:43] Phoenix3333: I have Luis checking his blackberry
[20:44] K8GJGB: when the RV takes place how soon would we know
[20:44] Phoenix3333: ok, the Worldmate (blackberry currency converter application) is still showing the old rates
[20:44] Phoenix3333: we will know just like this
[20:45] Phoenix3333: it will leak out
[20:54] Phoenix3333: Ok so we have all of the GCC nations showing movements
[20:54] Phoenix3333: nice
[20:55] Phoenix3333: Chase BoA Wells Fargo and Citi
[20:55] Phoenix3333: I also hear TD will exchange too
[20:56] Phoenix3333: TD bank
[20:56] Phoenix3333: that is the name TD it is a Canadian bank here in the US
[20:59] Phoenix3333: all banks world wide are closed on New Years day
[21:00] Phoenix3333: that is the only day of the year that all banks world wide are closed
21:04] Phoenix3333: Found one more!
[21:05] Phoenix3333: Oman was at $2.60 this am and now on the WF converter it is 2.88
[21:05] Phoenix3333: so that is all of the GCC nations
[21:05] Phoenix3333: so Oman is up .28
[21:05] Phoenix3333: SA is up .03
[21:05] Phoenix3333: UAE up '03
[21:06] Phoenix3333: Qatar up .03
[21:06] Phoenix3333: Kuwait up .41
21:06] Phoenix3333: three of those are major revaluations
[21:11] Phoenix3333: it looks like we are looking at a percentage move in the GCC of around 9%
[21:11] Phoenix3333: a across the board percentage up tick of 9%
[21:12] Phoenix3333: boom...not .40
[21:12] Phoenix3333: the KWD is showing an uptick of .41 cents
[21:13] Phoenix3333: that is a major revaluation
[21:13] Phoenix3333: a 4% swing in an currency is the limit per day and is seen as a wild movement
[21:14] Phoenix3333: I haVE ALWAYS BEEN TOLD iRAQ WILL BE AT OR NEAR THE eURO
[21:15] Phoenix3333: they may not announce it in Iraq until the 1st
[21:15] Phoenix3333: all of the banks are closed on the 1st
[21:24] Phoenix3333: sure hope we see this done now
[21:25] Phoenix3333: this economy is going to pop
[21:26] Phoenix3333: and thennnnnnnnnnnnn
[21:26] Phoenix3333: crickets
[21:35] Phoenix3333: we will have to see what these rates go to and what sticks
[21:35] Phoenix3333: we may check that converter later to see the values returned to what they were
21:35] Phoenix3333: lets just see how this plays out
[21:42] Phoenix3333: ok found one more
[21:43] Phoenix3333: Turkish Lira was at .66 this am now it is at .7746
[21:48] Phoenix3333: found one more
[21:48] Phoenix3333: Jordan
[21:48] Phoenix3333: was at 1.42 and is now showing 1.59
[21:48] Phoenix3333: .17
[21:54] Phoenix3333: ok Egypt up .02
[21:55] Phoenix3333: so far 8 nations found on that converter up
[21:55] Phoenix3333: from as low as a .02 move to as much as .41 move
[21:56] Phoenix3333: and this is Wells Fargo....a major bank
[22:01] Phoenix3333: Found one more
[22:01] Phoenix3333: Israel is up from .26 to .30

Wells Fargo site....

https://www.foreignexchangeservices.com/index.html?partnerid=FES&serviceType=rate