" RV UPDATE" BY MNT GOAT, 7 SEPT

 Mnt Goat  

 I address this question to guru Kaperoni who still thinks Iraq has to grow their economy first to get the current TRUE VALUE of their currency reflected in their rate.  SO grow it to what standard?

 What is the benchmark when they would turn on their currency? Did they shut it off because of the war and so the war has been over for 20 years. Yes, that is Obama’s plan not Dr Shabibi and it is a bad plan and will not work.  Iraq needs its currency to grow the country and it’s economy. 

  Iraq records the highest oil revenues since the start of 2023 which is also 2/3 more oil pumped than in 1991. The dinar rate in 1991 was over USD $3.  So why is the currency still being under valued? Yes, it is important to get out of a “rentier economy” based solely on oil and this will also create yet more wealth. But what about right now...I am talking about today!   

Doesn’t the oil wealth mean anything? Doesn’t the 113 billion in reserves and 132 tons of gold mean anything? Not to mention all the minerals and agricultural products being exported. So why still at 1/6 of a penny?

Some intel gurus want you to believe the “official” dinar rate is now set at 1130 and the CBI has not yet changed their site. This is not true, however I believe this is their next target rate and maybe the last rate change prior to moving ahead once again aggressively with the plan for the reinstatement.

 Seems this dollar issue has stalled their plan for now but they will overcome it as they always do but it takes time.