Inbedded HorseHead Posted January 31, 2011 Report Share Posted January 31, 2011 looks like ole Possum using an alias, speaking of Possum, where's he been lately? 1 Link to comment Share on other sites More sharing options...
snowglobe4 Posted January 31, 2011 Report Share Posted January 31, 2011 How many really think that if our Gov cashed in /received billions of dollars that they would pay off the national debt???? Come on really? 1 Link to comment Share on other sites More sharing options...
concretr Posted January 31, 2011 Report Share Posted January 31, 2011 If the US holds dinar, they will be used primarly to buy oil from Iraq. [ NETWORTHS POST] If im not mistaken oil is bought with only US dollars anywhere. Link to comment Share on other sites More sharing options...
snowglobe4 Posted January 31, 2011 Report Share Posted January 31, 2011 So the government will let the us go broke...but we can buy oil cheap...whooo Link to comment Share on other sites More sharing options...
Networth Posted January 31, 2011 Report Share Posted January 31, 2011 If the US holds dinar, they will be used primarly to buy oil from Iraq. [ NETWORTHS POST] If im not mistaken oil is bought with only US dollars anywhere. Oil is priced in US dollars. However, it can be traded for any currency. China buys much of it's oil from Russia in exchange for rubles. All of Venzuela's oil is traded for bolivars. It depends on the contract. If the dinar RVs as everyone suspects, I believe Iraq will demand many of it's oil purchase agreements to be priced in dinar. It will want to repatriate as many dinar as possible. Otherwise it runs the risk of runaway inflation. If it doesn't RV, it will likely continue to price it's contracts in USD. Link to comment Share on other sites More sharing options...
Jim1cor13 Posted January 31, 2011 Report Share Posted January 31, 2011 I hate to be a stick in the mud but I disagee. First, the dinar is not worthless. It has a value relative to other currencies. Just because it takes 1,170 dinar to buy 1 dollar means nothing. It's only a relative comparison. The value of the dinar is very similar to the value of the South Korean won (relative to the dollar). Yet South Korea is a developed nation and no one considers the won worthless. Secondly, I have seen or heard nothing that Dela Rue machines are standing at the ready waiting for people to cash in their dinar. I suppose that's why you put this in the rumors section. Finally, the US is still bankrupt, with or without an RV. The dinar is the currency of Iraq to conduct commerce WITHIN Iraq. It is not an international currency. If the US holds dinar, they will be used primarly to buy oil from Iraq. They will not be used to back or our debts. Our debts are denominated in US dollars. Only US dollars can be used to pay it back. Thank you Networth. That is correct. An RV cannot magically remove the incomprehensible total debt the U.S. has and it is still growing. So few pay attention to it because quite frankly, the numbers are difficult to try and comprehend. A few years ago, no one thought it possible for any country to have this amount of debt grow just within 2 years. An RV will be good, but we all better have more strategic plans to protect and learn to preserve any future wealth or it will not last a year. An RV is great, but it is not a cure all for greed and years of mismanagement. That will continue as always, because we often do not learn from history, but tend to repeat it. All my best! Jim --- Link to comment Share on other sites More sharing options...
aKINGinme Posted January 31, 2011 Report Share Posted January 31, 2011 "ROLL TIDE" RSSKELTON I am glad to see there will soon be more millionaires in my home state OF Alabama. I currently reside in Texas but will be back in Alabam in light speed fashion when R.V. happens. ROLL TIDE!!! WAR EAGLE to ALL my alabama friends!!!!!!!!!!!! NEGATIVE!!! ROOOOOOOOOOOOOOOOOOLLLLLLLLLLLLL TIIIIIIIIIIIIIIIIIDE!!!!!!!!!!!!!!!!!!!!!!!!!! 1 Link to comment Share on other sites More sharing options...
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