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Dinars will RV soon!


labdog
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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.

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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

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"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. :tiphat:

ROLL TIDE!!!

WAR EAGLE to ALL my alabama friends!!!!!!!!!!!!

NEGATIVE!!! ROOOOOOOOOOOOOOOOOOLLLLLLLLLLLLL TIIIIIIIIIIIIIIIIIDE!!!!!!!!!!!!!!!!!!!!!!!!!! :P:D

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