It appears that many voices in DinarLand are coming together in agreement on the progress in Iraq and the direction of the CBI – GOI etc to bring about what we are all waiting for — the RV — Come On RV !!!!!!
8-19-2012 LoriC: Today Saleh of the CBI confirmed exactly what the newshounds have been trying to explain for a long time. He said the project to delete the zeros is waiting on the “political storm” to end and that the national project to reform the currency will commence when these reforms are passed.
8-19-2012 Phoenix3333: Talabani renews the call for a National Meeting after the decline of the crisis among politicians. “Talabani said the last few days have seen the beginning of the decline of the impasse and stressed the need to refer to the Constitution and Convention of the Erbil and eight points in addition to reform paper.”
8-19-2012 Luigi1: Under British control in the early 1900s UK geologists located vast amounts of untapped silver, platinum, palladium, lithium, potash & other rare minerals deposits in addition to gold & copper. Iraq also has vast amounts of un – surveyed untapped natural gas fields ripe for exploration not even counting the known oil deposits.
The main choking point or bottle neck are the development of the fields & mines as well as building the infrastructure to get these resources to the global market place. Iraq will have to build many times more off shore floating oil & gas terminals & dredge additional deep water ports to handle the mineral barges, freighter & container ships.
Iraq is indeed a very very wealthy nation with great future potentials just waiting for global developers to come in & facilitate the GOI. 8-19-2012 Sandstorm (Dinar Vets): Unfortunately, just having the resources doesnt equate to a higher valued currency. Iraq needs to mine and pull these minerals out of the ground and export or import, selling these goods to increase GDP.
Food for thought, a country would never value there currency on untapped resources, because every time they drilled they would have less and their currency’s value would be on a continued decline. It would be impossible to accurately set a currency’s value on reserves.
Overvaluations and new finds would create too much instability, being that the main function of any central bank is price stability. But finding these minerals and increasing GDP would be very beneficial.
8-19-2012 Dalite: Unfortunately, OPEC countries can only accept USD for oil payments, so the UST has no need for Dinar. If Iraq had any other export that the US needed, it would build the necessary reserves, if payment was demanded in Dinar.
Since Iraq is a dual currency country, that isn’t a likely scenario. There has never been any factual information ever brought forward to support that claim. Although we all wish it was true, it is considered to be a Forum Fact, only believed in Dinar forums.
OPEC regulations and IMF requirements prevent that from currently being a reality. Perhaps that will change in the future, if the USD is replaced by the Dinar as the worlds reserve currency of choice.