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Iraq Gold Rush as Fog of War Lifts


Shelley
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1 Iraqi gold rush as fog of war lifts Today at 6:41 am

The recent discovery in Baghdad of what may be one of the world’s largest gold deposits could make Iraq a bigger producer of precious metal than oil, and help it pay its outstanding debt to Western countries stemming from the two Gulf Wars.

What’s more, the gold vein found in an eastern Baghdad neighborhood is expected to increase the area’s real estate prices with the influx of hundreds, if not thousands, of gold seekers, according to a report by another site.com.

As Iraq — with one of the world’s largest untapped oil deposits—continues to increase its oil production output for export, the discovery of large quantities of gold changes the economic landscape for the Middle Eastern country, noted James Méndez, president of Méndez Internet Management Services, an authorized money service business and Iraqi currency broker based in Puerto Rico.

“This means that in addition to large quantities of oil, Iraq will have one of the world’s largest gold deposits, which ensures the country will have plenty of money to pay its debts and to cover the cost of the upcoming revaluation of its currency, which should happen soon,” Méndez told CARRIBEAN BUISNESS online.

Mining operations continue in the upscale Aldajh area after the discovery of the existence of large quantities of gold in the soil, another site.com reported Wednesday.

For more than two years, exploration and drilling have been going on under the streets in the region, extending from Fudhaliyah to Obeidi, where low-lying water channels are used for the diversion of rainwater during flood seasons.

The drilling operations extend for several meters deep into the earth, except for longitudinal drilling spanning more than ten kilometers (6.2 miles), the online report said.

So far the mining has raised thousands of tons of earth, which has been set aside in order to extract the gold particles, the report said.

http://caribbeanbusinesspr.com/news03.php?nt_id=68200&ct_id=1

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This means that in addition to large quantities of oil, Iraq will have one of the world’s largest gold deposits, which ensures the country will have plenty of money to pay its debts and to cover the cost of the upcoming revaluation of its currency, which should happen soon,” Méndez told CARRIBEAN BUISNESS online.

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Wow love this part! Not sure if this guy talks to Shabs and has an inside track but I like it.

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True? who knows....

The source? a currency dealer...

The gurus? will tell us that the bush administration has know about this all along and have selected this time to reveal the discovery because it's a "trigger".

Me? taking this with a grain of salt...and seeing which one digests first!

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True? who knows....

The source? a currency dealer...

The gurus? will tell us that the bush administration has know about this all along and have selected this time to reveal the discovery because it's a "trigger".

Me? taking this with a grain of salt...and seeing which one digests first!

Jericho I wouldn't get caught up in the "who" but focus more on the "what". Regardless of a guru, currency dealer, or whomever saying this, our focus is on the fact that the resources in iraq, when tied to its currency, makes the dinar HARD CURRENCY as Saleh has repeatedly stated in the news (I encourage you to follow the link). What this means is that other countries will utilize the IQD in their reserves!

I believe a lot of people go wrong speculating this investment with the question of "how can they cover the cost of all of the external dinars floating outside of Iraq if it were to RV". What people are missing is that (I will use the United States for an example) when US citizens cash in, all of the cash in money is not going straight to Iraq for the exchange to USD. The IQD will act as reserve currency and will find all types of use in exchange for goods and services as well as reserves.

I love what I am seeing.

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Jericho I wouldn't get caught up in the "who" but focus more on the "what". Regardless of a guru, currency dealer, or whomever saying this, our focus is on the fact that the resources in iraq, when tied to its currency, makes the dinar HARD CURRENCY as Saleh has repeatedly stated in the news (I encourage you to follow the link). What this means is that other countries will utilize the IQD in their reserves!

I believe a lot of people go wrong speculating this investment with the question of "how can they cover the cost of all of the external dinars floating outside of Iraq if it were to RV". What people are missing is that (I will use the United States for an example) when US citizens cash in, all of the cash in money is not going straight to Iraq for the exchange to USD. The IQD will act as reserve currency and will find all types of use in exchange for goods and services as well as reserves.

I love what I am seeing.

Oh, I like what I'm seeing too! I just have to maintainn my cynical "edge". I truly believe this thing is going down...and soon. My prediction here at work with a couple of others that are invested is that it will be over in March. I mean with all the oil, natural gas, and now gold, I don't know how they can avoid it, especially considering the clamoring of merchants.

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"cover the cost of the upcoming revaluation of its currency" now if that doesnt mean no lop then i dont know what does

At least according to "James Méndez, president of Méndez Internet Management Services, an authorized money service business and Iraqi currency broker based in Puerto Rico" i.e. a dinar dealer.
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Currency dealer in Peurto Rico??? Well, that plane ticket isn't that expensive to cash in and island scout from there. smile.gifsmile.gifsmile.gifsmile.gif

WOW, Abarvets, so this is how they are going to spin it, it really doesn't matter but they have known about this for years. I am just ready for this to be over, thank you for the article Shelley...

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You are not alone my friend! Love the spin machine don't you? smile.gif

Yes I do, I like that we are in this very interesting opportunity and I really wanted to go to the Iraqi Mineral and Mining Expo last year held in London because at $3,500.00 a person they were weeding out us same speculators and I thought it would be the best way to be as close to the people in the know as possible. I now believe I missed out on one of the most important educations I would ever have. Now I have been on their web site and even posted on it the other day and did not find anything on the Gold but I’m going back to make sure I did not miss anything. What a perfect way to sin it, make it not about the oil….but the gold as the viewed perception to the world. These could be bigger than any of us could have imagined. Again it’s just me thinking out loud here…

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James Méndez, president of Méndez Internet Management Services, an authorized money service business and Iraqi currency broker based in Puerto Rico.

.You know even though this could just be this currency broker pumping the sale of the IQD it still shows that the gold is a big deal to what the end result will be....

There have been several articles confirming the gold finds…

What do you think Markinsa?

Edited by Stryker365
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James Méndez, president of Méndez Internet Management Services, an authorized money service business and Iraqi currency broker based in Puerto Rico.

.You know even though this could just be this currency broker pumping the sale of the IQD it still shows that the gold is a big deal to what the end result will be....

There have been several articles confirming the gold finds…

What do you think Markinsa?

I think the information is credible. However, I would like to find another news source outside of Iraq, and not the CNH, to verify the information in the two articles I've seen.

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Yes I do, I like that we are in this very interesting opportunity and I really wanted to go to the Iraqi Mineral and Mining Expo last year held in London because at $3,500.00 a person they were weeding out us same speculators and I thought it would be the best way to be as close to the people in the know as possible. I now believe I missed out on one of the most important educations I would ever have. Now I have been on their web site and even posted on it the other day and did not find anything on the Gold but I’m going back to make sure I did not miss anything. What a perfect way to sin it, make it not about the oil….but the gold as the viewed perception to the world. These could be bigger than any of us could have imagined. Again it’s just me thinking out loud here…

I thought the conference was by invitation? That would have been one heck of an education. Do not worry I am certain there will be another conference if the last one was successful. I did not see anything in our trade papers leading one to think one way or another on its success. This is bigger then we imagined and I believe there will be one more surprise before it is all over.

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I think the information is credible. However, I would like to find another news source outside of Iraq, and not the CNH, to verify the information in the two articles I've seen.

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I know Markinsa, I read something back in the summer about gold but I did not pay much attention to it because at that time I had oil blinders on..cool.gif ..I started thinking about this broker in Puerto Rico pumping and it came to me that Puerto Rico is part of the US and as such has the same broker laws that Dinar Banker or Dinar Ink must observe. I have listened to enough calls that involved these bankers to know he must state facts. I'm going to research this guy to see who he is but my point is if he is a broker he must go by the stated law when dealing in currency...

I thought the conference was by invitation? That would have been one heck of an education. Do not worry I am certain there will be another conference if the last one was successful. I did not see anything in our trade papers leading one to think one way or another on its success. This is bigger then we imagined and I believe there will be one more surprise before it is all over.

No we were going to go and all one needed was to be in the industry but my business was going south for a while and I could not justify spending that much money with all the associated cost involve...We had sent in our business info, see I have a friend that had me working for is mining company. I have a call in for him now to ask him how much he knows about the Gold in Iraq. He is a major player in one of the words largest Gold Mining Companies. The problem is I have no idea where he could be at any given time, I'll let you know what I find out though.

Hey Andy H, speaking of one of the guys that was going with us. I see you are reading too my friend..

Edited by Stryker365
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remember how many people rushed to California because of the "Sutter story" and then became the victims of their own greed/speculaton as homeless and destitute? Beware of Gold Rush stories. They are usually true for the "elite" and not for the masses.

just sayin'- be aware

greg

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