Pimpy
Article: "Iraq to charge Customs Duties/Taxes "Exclusively in Iraqi Dinars" This is awesome. There we go - De-dollarizing, heading in the right direction.
In Iraq they have the ability IMO to do a controlled free float...People ask me, 'Why doesn't Iraqi dinar free float?' Because it could be very very risky. They could benefit from it. They might go in the right direction. People might think they have something to offer...worth investing into, that they have a bright strong future...which I think Iraq does and I think they could benefit from being on the Forex but they have to have the restrictions removed off their currency...Iraqi dinar is on the local one [Forex]. They're not on the big Forex.
There's still problems with the exchange rate...Right now the solution they've come up with is increasing the interest rates for customers if they deposit their money and leave it there [In a bank].
7.5% is a pretty good size interest rate if you're going to leave your money in a deposit at your bank . In the past we used to have stuff like that but we don't anymore unfortunately.
Sandy Ingram
Iraq has a secret asset many people are not aware of...the ancient city of Babylon is only 54 miles from the capital city of Baghdad. The gold deposits have not changed. The only difference Iraq was busy drilling for oil..
.It is reported gold production value could someday rival or equal oil production value...This massive amount of gold is still in place in Iraq today. The eastern Baghdad region, the western desert and the Kurdistan area have all been discovered to have enormous gold deposits. Mining operations are currently underway...
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