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wealthhound

Thought from our brilliant community, what impact do you think low oil prices currently have on our venture???

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Not too long ago everyone was saying oil Prices had to Drop in order for Iraq to feel the pressure.....With the $70.00 plus per barrel they were sittin pretty and not worried about the value. Now it has dropped to the $56.00 range they said it needed to drop to to make them raise the value......still they haven't done anything.

 

I am beginning to think Oil Prices have nothing to do with this or any other mineral they have........It has been said that Iraq is full of the Mineral or what ever it takes to make Lithium Batteries.....Electric Car Batteries but they are not doing anything about mining it.

 

Karsten

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27 minutes ago, Karsten said:

I am beginning to think Oil Prices have nothing to do with this or any other mineral they have..

 

you may not be to far off in that thinking karsten ,  for many many years oil values were low prior to iraqs invasion of kuwait with a currency value always above 1.00 dollar , oil has been the only source besides the billions of USD injected to keep the economy from collapse (  feeding the crooks and trying to support the entire country ) , the imf  for years now has been stressing to diversify , iraq needs a free market economy they have been racked by greed , corruption and terrorism  , man i wish i could type up a rainbow and unicorn happy time but its been the opposite imo they have got to have goi members that love the country more than self ... we wait  

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I've been hearing for many years the oil price had to be high for the Dinar to come out high yada, yada, yada...Well it went to well over a $100.00 a barrel an has gone to as low as $30.00 a barrel. Guess what, my Dinar hasn't changed in value a bit either way. 

Personally I don't think the price of oil or the price of tea in China has a damn thing to do with the value of the Dinar....

 

 

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While yes I'd like Iraq to RV, paying more at the pump when not necessary and the Saudi's are gold plating their toilets on our backs tends to p*$$ me off.  

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What Karsten and 3n1 said. The only benefit higher prices might have is the elimination or shrinkage of the GOI budget deficits. Yet the IMF wants them to carry some debt as part of a vibrant economy. The oil is set to be around $70 ppb as a means to putz with Russia and their economy for globalistic and economic reasons. Due to the fact that $65 or $70 a barrel is below Russia's (a member of OPEC) breakeven point for producing oil. There is a expectation that GOI could pick up the slack that Iran may be loosing due to the renewed US sanctions. If they don't,  the USA will make up the difference/flood the market with oil to compete against Russia, putz with Iran, and weaken the power of OPEC and the countries that comprise them.

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Not much considering Basel 3 is about all assets of the entire country .Oil is only a drop in the bucket of their assets.I think once it kicks in gear they will start working to unlock the rest of those so to speak and this will help add security and solid backing , IMO

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14 hours ago, new york kevin said:

What Karsten and 3n1 said. The only benefit higher prices might have is the elimination or shrinkage of the GOI budget deficits. Yet the IMF wants them to carry some debt as part of a vibrant economy. The oil is set to be around $70 ppb as a means to putz with Russia and their economy for globalistic and economic reasons. Due to the fact that $65 or $70 a barrel is below Russia's (a member of OPEC) breakeven point for producing oil. There is a expectation that GOI could pick up the slack that Iran may be loosing due to the renewed US sanctions. If they don't,  the USA will make up the difference/flood the market with oil to compete against Russia, putz with Iran, and weaken the power of OPEC and the countries that comprise them.

Happy Thanksgiving to ypu and yours

Your insight is appreciated!

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13 hours ago, js214 said:

Not much considering Basel 3 is about all assets of the entire country .Oil is only a drop in the bucket of their assets.I think once it kicks in gear they will start working to unlock the rest of those so to speak and this will help add security and solid backing , IMO

Your thoughts are appreciated! 

Enjoy Thanksgiving!!

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On 11/22/2018 at 7:49 AM, wealthhound said:

Happy Thanksgiving to ypu and yours

Your insight is appreciated!

Thank you so very much. May you and your family be blest. In Jesus's name I pray. Amen

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