Parliamentary Economic Committee proposes the sale of crude oil with the dinar the lraqi to support and increase value

[Sweetybird]

Parliamentary Economic Committee proposes the sale of crude oil with the dinar the lraqi to support and increase value

Posted: March 16, 2012 in Iraqi Dinar/Politics

Date: Friday, 16-03-2012 11: 45 am

Baghdad (newsletter) … Economic Committee member suggested Deputy Iraqi coalition//Noora albegari sell crude Iraqi dinar instead of the dollar, to support the local currency and increased value to currency.

She albegari (News Agency news) on Friday: must work towards increasing the dinar to currency and make international currency dinar deals by all States through the sale of oil in Iraqi dinars rather than in US dollars as some oil-producing countries and sells its oil for support and increase its value.

She added: the sale of crude if Iraqi dinar, will lead to increased demand for purchased by auction, the Central Bank and this will lead to increased exchange rate for currency and forcing the world to deal with the Iraqi currency abroad.

She albegari to: that the Central Bank does not approve the sale of oil in Iraqi dinars for fear of fraud in local currency that the phenomenon now deployed in local markets because of special security situation faced by Iraq after a year (2003), indicating that this process needs to be security stability through tightening economic security forces work to prevent fraud or the like.

http://bit.ly/FPpQsF

[truthful1]

You got to love this article.

[lettuce]

Great article, now let's do it already! Revalue the damn currency!

[Roadrunner]

One of the best articles I've read in a long time. If this gets done it will drastically change the rate when this thing pops. I, for one, would be willing to wait a little longer on the RV to see if this works out. After all, I have waited over seven years so what is a few more weeks or even a few more months. Plus one from me.

Roadrunner

[Bat of Darkness]

Hmmm. I never allowed my "rags to riches" fantasy to go that far...but I'm certainly willing to consider that Iraq would not only replace oil production from pariah nations, but require those sales to be in Iraqi Dinar - thereby guaranteeing an increasing demand for their currency. Talk about going international: they are an ambitious lot, considering they can't get a thing done.

[unirod]

I can sense frustration with this committee and their view of the present exchange rate!

[fnbplanet]

This may actually be "the plan", but farther down the road, after the new currency has been introduced. One of your best investments after RV may be to NOT cash in (some of it).

[Sweetybird]

This may actually be "the plan", but farther down the road, after the new currency has been introduced. One of your best investments after RV may be to NOT cash in (some of it).

We're thinking along the same lines. I plan to "hold em" for a while, unless there's a set time to cash in, of course. I think the potential is worth the additional wait.

[dmdebar]

We're thinking along the same lines. I plan to "hold em" for a while, unless there's a set time to cash in, of course. I think the potential is worth the additional wait.

My plans exactly, holdin half or more, unless there is a cash in window. Go RV!!!!!!!

[TheArtistFormallyKnownAs]

Nice post sweetbird

Now stop talking about it and lets launch this ship already.

8 )

TAFKA

[Dinaronair]

Great article thanks for posting... they need to just get this done already... go rv

[TQueezy]

I thought there was an international agreement that all oil must be purchased/traded with the US dollar? Is that not true? Or is there a way around that?

[Captjohn]

An excellent article. If adopted, this would ensure that the IQD would become a globally-accepted currency with it's value reflecting the known and potential oil reserves in Iraq. That could be huge for us speculators and may encourage a "hold-em" strategy after RV.

[fnbplanet]

An excellent article. If adopted, this would ensure that the IQD would become a globally-accepted currency with it's value reflecting the known and potential oil reserves in Iraq. That could be huge for us speculators and may encourage a "hold-em" strategy after RV.

And a "hold 'em" strategy works for them too. The pressure of all speculators cashing all dinars would crush all central banks. Even IF they could afford to go higher, I don't believe they would open with much more than a dollar.

[Joker017]

Great Article, Thanks for posting... Go RV - Go Big.....

[zigmeister]

I thought there was an international agreement that all oil must be purchased/traded with the US dollar? Is that not true? Or is there a way around that?

My understanding that is true with OPEC but I believe the contract ends soon. However my understanding is Iraq is a part of OPEC, if they have not changed their minds, they nominated Thamer al-Ghadban as secretary general of OPEC.My link

So it could be Iraq is setting itself into a position, where this could actually happen. This would be a good thing for us. The currency needs to be internationally recognized and an RV would get it there quicker I think. Perhaps this is the debate behind the scenes; RV vs RD.

[KiaKaha]

Great for the IQD but what could/would/will happen to the USD in this scenario?

KK

[zigmeister]

Great for the IQD but what could/would/will happen to the USD in this scenario?

KK

I don't think it would be helpful.

[cooked]

This may actually be "the plan", but farther down the road, after the new currency has been introduced. One of your best investments after RV may be to NOT cash in (some of it).

I had been planning on cashing about 60-70 percent and waiting for it to go up. As long as there is no window or bounty on our notes. Shoot, it may go up 50-200 percent in a few more years. Hope so at least.

[Papster]

Great for the IQD but what could/would/will happen to the USD in this scenario?

KK

i read somewhere that with the use of the USD in oil sales that it actually props up the USD.............if everyone stopped using the USD..................the USD could plummet............GO DINAR

[KiaKaha]

i read somewhere that with the use of the USD in oil sales that it actually props up the USD.............if everyone stopped using the USD..................the USD could plummet............GO DINAR

That is my fear, Papster... Hoping for the rv before that can go into affect. The 37 items thread & survival gear would certainly come in handy.

KK

[Cosmo]

Thanks Sweetybird. We are definitely headed for something very soft and fluffy dinar-wise but granite-hard dollar-wise

[yota691]

This was the Plan the Whole Time!! IMO

[TheArtistFormallyKnownAs]

Great for the IQD but what could/would/will happen to the USD in this scenario?

KK

I don't know, but what if they said we only sell oil in Dinar but we only sell Dinar for US Dollar, could that work

8 )

TAFKA

[SidneyJr]

For Iraq to sale their oil in Iraqi dinars rather than in US dollars want be that simple. Iraq is a member of "OPEC" http://www.opec.org/opec_web/en/about_us/25.htm

" OPEC" only sale their oil in US Dollar. It's called the "Secret Deal" with the Saudis.

http://www.thirdworldtraveler.com/Iraq/Iraq_dollar_vs_euro.html

http://www.moneymaker.com/money/oilmoney.htm