MarkZ
[via PDK] There are some very key meetings going on around the world on Iraq...Around the 12th through the 19th…. The banking side keeps telling me to relax because its done…and we should be able to see it soon. Problem is I don’t know what “soon” means anymore.
Article quote: “Today Friday the Central Bank of Iraq revealed measures and decisions to support the Dinar...And maintain its strength against other measures and currencies that will possibly affect the exchange rate..." It makes sense to me that they are forcing Iraq citizens out of the US dollars and using the dinar before they revalue…then you have all them benefit from the revaluation. Plus its part of de-dollarization in general and strengthens the dinar. To me this story is absolutely enormous .
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.
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