MarkZ
[via PDK] Question: We keep hearing that Iraq cannot base the RV on just oil. Other than oil…what did Iraq export under Saddam when the dinar was $ 3.48?
MarkZ: Their economy is far more diversified and robust then it was back then when their dinar value was the highest in the world. They used to burn off their natural gas and now it’s a huge commodity.
Plus their rare and precious minerals in the ground. And their tourist industry visiting all the historic sites. They are located between some of the largest rivers in the region and used to be the breadbasket of the region. They have far more going for them now then they did when their currency was exponentially higher.
...a number of banking contacts keep saying to “stay calm- it’s coming”...I feel fantastic about where we are. Iraq says it is pushing forward with its economic reforms this month…Let’s see what happens in January.
.with the government forcing the use of dinar only from now on…they need to have a higher value…or these people who have the green light to come in and start building are not coming…
I am being told from my folks on the street over there to watch in the coming days or weeks for the rate of dinar on the prices of goods to change. To me this signals there is going to be a substantial change. And they told us they are going to implement their economic reforms in the month of January. And the exchange rate is a key issue in those.
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