Pimpy
Iraqi dinar is pegged to the US dollar. If the dollar starts to lose value because the interest rates are being cut, then is this the time for Iraq to de-peg away from the dollar? ...No, you just don't do it. You have to weigh the pros and the cons of it. Yes I would like to see Iraq de-peg from the US dollar but I also want to make sure they are set up to do so before they do that...Sure the value of the dollar is going to drop, should Iraq de-peg itself and be independent and make their own decisions with the possible risk of it losing value instead of it gaining value?
There are many countries that have a ton of resources and the governments are rich but the people are poor. I've been a huge supporter of the Iraqi people. I keep praying their government gets their shit together and they're able to prosper from the resources they have.
There's no reason for them not to. Sure I want to make money off the Iraqi dinar but...not at the expense of the Iraqi people...I can see how the Iraqi people will become prosperous because if they change the exchange rate it give them more purchasing power. That means they're able to buy a lot more things with their money...An increase in the exchange rate would benefit them greatly...
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