U.S. Wants Revaluation More Than Iraq
Here are the latest updates and insights from my sources. Revaluation is near, we just need to get past delays.
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Aug 27 11:33 PM [Enorrste] First, the GCC has announced through the media that it will offer “full member” status to Iraq “in a few days”. This came out last Saturday
[Enorrste] I don’t want to dominate but if the mod wants to allow it I’m ok with it
[mommobile] http://www.imf.org/external/np/tre/s…/2009/0709.htm
[IDQ09] no domminate its fine we are listening
[Enorrste] Second, membership in the GCC REQUIRES and internationally recognized currency; this is in their charter
[mommobile] Looks like tomorrow is going to be interesting
[Enorrste] Third, there is a small provision for an exception to this of 14 days only; Iraq will NOT ask for the exception because Iraq WANTS the RV
[Enorrste] Fourth, Maliki has spent the last 2 months traveling all around the world (England, then Egypt, then Turkey, then France, then the US, etc.) inviting all countries to invest in his country.
[Enorrste] Fifth, he can only do that if he can trade on an international level with a world recognized currency
[Enorrste] Sixth, the fact is that the US wants this even more than Iraq
[Enorrste] This was made evident when Obama brought Maliki to the US a few weeks ago and then followed up the next week with the Emir of Kuwait. As Medic so correctly pointed out this was one of the last hurdles to free up an RV
[Enorrste] The agreement included the following: Kuwait was cajoled into dropping its objections regarding the UN releasing Iraq from the restrictions of Chapter VII, which restrictions HAD to be removed to allow for international trading with Iraq (otherwise it was still a rebel nation)
[Enorrste] In exchange for this concession (including also money reparations, return of precious assets, and return of bodies of dead Kuwaitis), Iraq agreed to the RV
[Enorrste] But the US also got a piece of the pie in that it insisted on being handed the trigger for the RV. That trigger is now in the hands of Geitner.
[Enorrste] Now Geitner is a perfectionist and is lining his ducks in a row so that NO mistake will be made
[Enorrste] I am not saying the following as a political statement, so please do not take it that way
[Enorrste] He is preparing one of the biggest events in world economic history
[Enorrste] It will turn out to be the biggest “win win” ever, and all over pieces of paper
[skidog] very well said enorrste. that summed it all up.
[Enorrste] Obama through the IMF has already seen to it that the small countries have enough IQD to be able to pay back their loans to other countries and to the IMF itself. That is a significant “clearing of the slate” because it will allow for new greatly enhanced levels of trade to these emerging countries (which is where all major countries need markets at this time)
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Tags: Business, Business and Economy, currency, Dinar, dinarinfo.net, Economic, Economic history, Economics & Investing, Financial Services, International, International Monetary Fund, Iraq, Iraqi dinar revaluation, Kuwait, sanctions, Technorati, UN, United Nations, United States, US
October 6th, 2009 at 6:34 pm
I have a question to ponder and by the way I am all about the Iraqi DInar jumping. I have a couple million dinar and pumping any spare change I get into more. When the Iraqi Dinar was worth 3 to 4 time more than the US dollar how truly accurate was that? They were not trading with the rest of the world so it is hard to say that that was a real value, or am I worng? (Which I hope I am) Also lets compare them (Iraq) to Venezuela, they also have a large oil supply and the country seems civilized yet their currency is even lower in value. I missed out a recent investment where I bought spng (ticker) stock at .008 USD and it jumped to .28 cents! Unfortunately I sold 4 weeks too early. I want this Iraq investment to jump so bad it hurts after dumping my other investment too early.