Breitling
US dollar, Iraqi dinar - they have one of the biggest US dollar reserves on the planet. And that's what backs up their dinar (outside of their energy sales). They are not de-dollarizing to do business internationally without using the dollar...they're not getting rid of the US dollar. It's still part of their reserve. If they're going to sell oil to the United States they're going to use the US dollar...
The inflation for Iraq is artificial inflation. You go back and look, How many customers did Iraq have back in the day?
How much oil were they selling? What was the value of the currency back in those days? $3.22 value. How many customers do they have today? They have way more customers. They have more production. The price per barrel is more than in those days when it [the dinar] was $3.22. It's not a market bearing inflation, it's artificial inflation. They have more customers. They have a bigger reserve than they've ever had. One of the biggest in the world for the US dollar. That's the reality that you're looking at. You are sitting on a gold mine.
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