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Iraqi Dinar Revaluation - july 8
Hot News: Iraqi Dinar Revaluation - july 8
Hot News: Iraqi Dinar Revaluation - july 8 | Global investment news | U.S. national debt will exceed $14.5 trillion by the end of the summer. The government has been underwater so long, it has gills. But despite their desperate condition, the Feds still have a few tricks up their sleeve that will allow them to keep “kicking the can” down the road. One of the gimmicks they've cooked up to stave the wolves off is becoming more and more evident: The revaluation of the Iraqi dinar.
Iraqi dinar collapsed after the United States invaded Iraq and toppled Saddam. Prior to U.S. invasion, the Iraqi currency was trading over USD3 to one Iraqi dinar on the strength of the country's massive oil industry.
After the dinar collapsed, it was trading significantly lower. At one point, a single dollar purchased one thousand Iraqi dinar.
Speculators began to take positions in 2004 hoping someday, the dinar would recover and the United Nations economic sanctions would be lifted, allowing the currency to be revalued. Since then, there has been much speculation regarding how and when that would occur.
But here's the really interesting part:
The United States Government is the Largest Holder of Iraqi Dinar Outside of Iraq: Does that really come as a surprise?
The U.S. Treasury does not officially list the Iraqi dinar as part of the country's forex reserves.
However, the U.S. Treasury does say it did an initial currency swap with Iraq to fund their government and Ministries.
Exactly how many dinars were traded is not mentioned, but it does make reference to “billions of U.S. dollars” traded to Iraq.
About two months ago, Iraqi dinars could no longer be purchased; the recent Dodd Frank bill appears to have legislation related to the revaluation of a foreign currency and preventing mass hysteria.
From what I have been able to gather, it sounds like this plan was originally put together by George Bush, **** Cheney, Alan Greenspan, and others years ago as a way for the U.S. government to be repaid (read: get kickbacks) for their efforts in Iraq.
Experts speculate that the U.S. government has received almost 4,000,000,000,000 Iraqi dinars to one dinar exchange rate of USD1 to IQD 4,000.
If this is even close to truth - and the United Nations allows Iraq to REVALUE their currency to U.S. $1 : 1 Iraqi dinar - the U.S. government would be able to finish in billions - like anyone else who speculates on the dinar in recent years.