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2012 budget being revised at IMF request


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We could send our "Uncle Tony" in, you know... the one "down the shore", I hear he "plays a mean violin", he's always carrying that case around anywayunsure.gif, and I'm sure he would be more than happy to speed things up a bit! wink.gifrolleyes.giflaugh.gif

Come on boyz... gitter dun!!! biggrin.gif

GO RV Already Baby!!! cool.gif

All I can say is, if all it took for them to pass the laws is an arm twist, I'd be on the next flight to Badhdad. :lol:

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Thanks for posting Tony! I think if it were solely up to Iraq, they would drag their feet forever. I'm glad the IMF is putting the pressure on. Let's get this done!!! I am loving the 1:1 predictions. Go RV!

Everybody is tired of waiting, even IMF had to light a fire under their arse to get them moving.

1 to 1 is music to my ears.

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Can someone help me with this? Adam said Iraq will use natural resources to back up the IQD, such as oil reserves..etc....Last night on one of the threads someone was saying you can't use oil, natural resources to back up currency, and that it has never been done. So what is the real answer??

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Can someone help me with this? Adam said Iraq will use natural resources to back up the IQD, such as oil reserves..etc....Last night on one of the threads someone was saying you can't use oil, natural resources to back up currency, and that it has never been done. So what is the real answer??

I think Adam has a lot more knowledge of this investment than anybody else, I'll believe Adam 100%.

The lopsters are the ones that seem to believe that Iraq can't back their currency with their natural resourses, nuff said.

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Can someone help me with this? Adam said Iraq will use natural resources to back up the IQD, such as oil reserves..etc....Last night on one of the threads someone was saying you can't use oil, natural resources to back up currency, and that it has never been done. So what is the real answer??

I'm not sure about backing the currency with commodities / resources. I don't believe any country does this whether the commodities are tangible (as in available now) or potential.

But, if you look at the exchange rates of countries that are heavily commodity reliant for GDP, commodity pricing can have an influence on the exchange rate. Countries like Australia as an example have a high exchange at the moment because the majority of their exports are dirt that other countries refine / process and use for manufacture. If commodity prices go down, you will generally see Australia's exchange rate decrease as well.

Not saying that is the total basis of the exchange rate, but it can have an influence.

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The IMF may or may not be reviewing and making suggestions for revisions to move Iraq along faster. Iraq's financial sector must adhere to auditing and accounting rules per the World Bank in order to play in the international sand box. TAV has recently provided a lot of great information on what is required, and it is extensive (Iraq Financial Sector Review).

I would think that the IMF would not want Iraq to be rushed, but to get the new rules and regulations developed and implemented effectively. Unless, of course, Kristine LeGarde is holding dinars, then it is pedal to the metal.

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Can someone help me with this? Adam said Iraq will use natural resources to back up the IQD, such as oil reserves..etc....Last night on one of the threads someone was saying you can't use oil, natural resources to back up currency, and that it has never been done. So what is the real answer??

What backs the value of the USD?

(Yes, this is a trick question. :D )

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Perceived value...

:)

Iraq's currency is backed by the same thing. Back when the Dinar was valued at $3, they had about the same amount of oil, gas, people, etc. When the world's faith in them dropped, so did the value of their currency.

So, if it is to raise, how do they justify it? Certainly not because "we just want to raise it"! No, they say "We are raising it, and we will back it with our word, our credit, and our resources".

Common sense.

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:)

Iraq's currency is backed by the same thing. Back when the Dinar was valued at $3, they had about the same amount of oil, gas, people, etc. When the world's faith in them dropped, so did the value of their currency.

So, if it is to raise, how do they justify it? Certainly not because "we just want to raise it"! No, they say "We are raising it, and we will back it with our word, our credit, and our resources".

Common sense.

No doubt Adam, its how the world is run!

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:)

Iraq's currency is backed by the same thing. Back when the Dinar was valued at $3, they had about the same amount of oil, gas, people, etc. When the world's faith in them dropped, so did the value of their currency.

So, if it is to raise, how do they justify it? Certainly not because "we just want to raise it"! No, they say "We are raising it, and we will back it with our word, our credit, and our resources".

Common sense.

So that means that if they wanted to come out at 1 to 1 it shouldn't be a problem.

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So that means that if they wanted to come out at 1 to 1 it shouldn't be a problem.

Yep, it should not be a problem to at least come out at 1:1. Can it come out higher? Sure! Will it? We shall wait and see..

However, Iraq is in a better position financially today, then when Saddam was in power.

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Yep, it should not be a problem to at least come out at 1:1. Can it come out higher? Sure! Will it? We shall wait and see..

However, Iraq is in a better position financially today, then when Saddam was in power.

I agree, they're in better shape now, Maliki wants their currency to be the strongest in the ME, so that leaves us wondering.

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