Does Iraq have the wealth to RV the ID?

[Luigi1]

Iraq will become the superpower of oil exports. Iraq will be the next Saudi Arabia if oil hits $150 a barrel next year. Iraq will have more than enough cash reserves to cover any RV.

http://************.com/2011/11/10/un-report-iraq-is-becoming-a-new-superpower-of-the-oil/

http://online.barrons.com/article/SB50001424053111903617204576411791590055646.html

[Canuklady]

Thanks for your post Luigi.

[Luigi1]

Thanks for your post Luigi.

Yes. iraq will have the cash reserves to pay for any amount of RV of their choosing. Who will pay for the RV? We will next year when gas reaches $6 a gal in the USA.

http://radioviceonline.com/cnbcnext-stop-6-a-gallon-7-not-far-away/

[easyrider]

o yes this is why i dont get how people think Iraq cannot support an RV its really mind boggling to me and makes no sense they are going to be one of the wealthiest countries in a couple of years just watch.

[genevieve]

o yes this is why i dont get how people think Iraq cannot support an RV its really mind boggling to me and makes no sense they are going to be one of the wealthiest countries in a couple of years just watch.

I don't think anyone questions the fact Iraq is a country of great wealth, and can only grow going forward.

An RV has to do with making the purchasing power of the currency increase, which can only happen when the currency in circulation is reduced.

Put it this way, what is their current country worth? Now take that and increase the value of the country so that the 1170 becomes .01 USD without reducing the currency in circulation.

Their economy would have to raise 1000's of trillions for an RV to happen with that logic. The currency is not a stock ticket, it's basically (yes it's deeper than this) just a mechanism to be used on the streets.

If the GOI wants the Iraqis to use the dinar the money supply must be contracted which in turn will raise it's value. Simple Supply and demand.

[4aprofit]

I dont remember all of the Bible Scriptures that folks have shown me, and that we've seen here on some of the blogs...whereby mentioning that Iraq will rise up in these last days...of course, many have various views and interpretations regarding all of this...and to each his own.....but, from what I understand, this is where the Anti-Christ will be seated..in Babylon...to run the New World Order and rule the World....of course, until he moves to the Temple Mount in Jerusalem, as many say, as per when the Battle of Armagheddon will start...and like one minister said...God is not a lier and the devil is'nt broke...I dont know about how all of this will unfold, but we will surely see?...Something surely is afoot with Iraq, with the billions a day moving into Iraq...there has never been a movement of money and monetary assets like this on the planet!

[MPG350]

Of course Iraq has a lot of oil but the currency circulation need to be greatly reduced first before there is a RV its not rocket science people.

[Luigi1]

o yes this is why i dont get how people think Iraq cannot support an RV its really mind boggling to me and makes no sense they are going to be one of the wealthiest countries in a couple of years just watch.

You bet...oil consuming nations, including the USA will pay for Iraq's new found wealth.

[MPG350]

You bet...oil consuming nations, including the USA will pay for Iraq's new found wealth.

Not really more supply means lower prices, so USA needs Iraq pumping more oil out

[Canuklady]

Yes. iraq will have the cash reserves to pay for any amount of RV of their choosing. Who will pay for the RV? We will next year when gas reaches $6 a gal in the USA.

http://radioviceonline.com/cnbcnext-stop-6-a-gallon-7-not-far-away/

Hey Luigi. Not sure why you got negs for this opinion. I tried to even you out. Our dependence on oil has and continues to be very costly. I don't know if it will go as high as $6, but then again, it was almost $4 here a few years ago and I never thought I would ever see that. If it reaches $6 post RV, I will be like Duckie in Pretty in Pink and ride my bike everywhere, even though I will be rich. Some things I just won't pay for, which is why I won't be opening an account at BOA to get charged for ATM card use anytime soon.

I don't know how much Dinar is in circulation or whether the crumpled notes the CBI has gotten back are being destroyed or in a vault somewhere. I honestly don't know whether an RV will cause oil prices to soar. It's hard to say. I see lots of evidence that they have the wealth to support a RV. But I could be wrong. I wish I could comment in a more educated manner but am still trying to get up to speed here. Only have about 3 hours a day to do it! Thanks again for posting and go RV!

[F35VTAIL]

After the RV, I could afford $6 a gallon gas.

[dhardage]

Hey Luigi. Not sure why you got negs for this opinion. I tried to even you out. Our dependence on oil has and continues to be very costly. I don't know if it will go as high as $6, but then again, it was almost $4 here a few years ago and I never thought I would ever see that. If it reaches $6 post RV, I will be like Duckie in Pretty in Pink and ride my bike everywhere, even though I will be rich. Some things I just won't pay for, which is why I won't be opening an account at BOA to get charged for ATM card use anytime soon.

I don't know how much Dinar is in circulation or whether the crumpled notes the CBI has gotten back are being destroyed or in a vault somewhere. I honestly don't know whether an RV will cause oil prices to soar. I wish I could comment in a more educated manner but am still trying to get up to speed here. Only have about 3 hours a day to do it! Thanks again for posting and go RV!

Good morning dahling!

I got Luigi's other neg, and just FYI as I understand it, BOA backed down and won't be charging the fee. (Will probably up their other fees to make up for it though)

[Canuklady]

Good morning dahling!

I got Luigi's other neg, and just FYI as I understand it, BOA backed down and won't be charging the fee. (Will probably up their other fees to make up for it though)

Hello! Well you were missed yesterday! Okay, good to know! I still won't be opening an account with them. Now they have me scared! Lol! Thanks DHardage!

[RodandStaff]

After the RV, I could afford $6 a gallon gas.

I was thinking after an RV we could build a distiller to produce our own alcohol fuel or some other kind of alternative fuel! Then we wouldn't have to worry how much gas costs! Whatchathink?

I have always thought that if they could afford a rate of over $4.00 way before Saddam was in diapers they should be able to afford a rate competitive with Kuwait today! I think some folks just over think this whole thing sometimes!

Edited November 11, 2011 by RodandStaff

[billy goat]

Thanks for posting this Luigi. I question the numbers listed the in the first site. They mentioned four to six million barrel per day output by 2014. This is not far from Saddam era output and leads me think Iraqi reserve capacity has been overestimated (second posting somewhat confirms this especially for Saudi Arabia). Personally, I don't believe Iraq has all the oil the speculators claim. 'Known' reserves are being worked and repaired but the needed water for extraction and processing is clue that Iraqi oil fields have reached or passed peak output.

[dhardage]

Hello! Well you were missed yesterday! Okay, good to know! I still won't be opening an account with them. Now they have me scared! Lol! Thanks DHardage!

missed?? Are you kidding? I've been BUSY!!

I had a BLAST with cooked! Check it out!

[skitealwedrop]

missed?? Are you kidding? I've been BUSY!!

I had a BLAST with cooked! Check it out!

LMAO! You are too much Robin. Have a great day.

[Luigi1]

Of course Iraq has a lot of oil but the currency circulation need to be greatly reduced first before there is a RV its not rocket science people.

The ID could replace the Petrodollar in near future. Iraq already indicated it's oil will be traded in ID after RV along with ther Gulf Nation currencies. The ID must become a world trade able currency before that happens. It will happen & when it does happen, Iraq will not have enough currency on the int'l markets for all nations to trade in it's oil.

[Luigi1]

Not really more supply means lower prices, so USA needs Iraq pumping more oil out

It don't work that way with oil when you factor in geo political conditions. Right now there is a glut of too much oil on the world markets, We should be paying around $2,60 a gal for gas at today's oil prices. Why?

[mikep05]

Yes i'm sure they will be able to cover their dinar.Ask yourselves about the other countries that pay more for gas than the usa and you will get your answer.

[Luigi1]

After the RV, I could afford $6 a gallon gas.

There are estimated around 2 million Americans invested in ID. The other 350 million Americans won't be able to afford $6 gas without due hardships. It is up to us to spread the wealth around & not be greedy.

[Luigi1]

That's what I was thinking too, the fact remains that no matter how well Iraq's economy does it would still mean having the equivalent of 30 Trillion U.S. Dollars in circulation if it were to RV at 1 to 1 without RDing first. Can they do this? Some people seem to think so but it makes no sense to me.

Iraq has long term goals & aspirations of a ID world currency equal to the Dollar or Sterling in value & prestige. Iraq is also negotiating with the Gulf States for a one Gulf states Dinar. The ID would have to strengthen to roughly the same rate as the KD in order for that to happen. When that happens, China & Russia will call for the end of the Pertodollar in OPEC trading & insist on Rubles, Yuan & Gulf States currency in trading for oil.

[genevieve]

People need to understand the US doesn't buy that much oil from Iraq.

http://www.consumerenergyreport.com/research/crude-oil/where-the-us-gets-its-oil-from/

Edited November 11, 2011 by genevieve

[genevieve]

Granted but 30 TRILLION dollars, more money than is available in the industrialized world, is still a problem. This is why I believe they are telling the truth when they say they are in the process of RDing the Dinar. I know there are all kinds of explanations for how they can RV without RDing first but everything put forth by the pro RV crowd is just theory (just as it is theory about how a RD would go). But when talking about a small war torn country like Iraq suddenly re-valuing their money into the trillions it just makes no sense. All just my opinion of course and worth only what you paid for it.

Yuppers Doug, do they RV and blow their Reserves (which couldn't cover an RV currently even at even.01) as well as they would have to borrow additional money from international banking institutions and go into debt because of the run on the banks? Or just re denominate, break even, and provide the citizens the pride of using their own currency? We can ignore the articles and call it smoke, but IMO they have been very clear. What's wrong with a break even investment? I lost thousands in AIG, Bears, and GM in the last few years. I still haven't lost anything but shipping and handling so far.

[TimS]

It's not a question of whether they have the wealth to RV.....it's always been a question of what value of an RV can they support?