Pimpy

Article:  “Iraq’s foreign currency reserves hit $115 billion high”  This article caught my attention…the amount of reserves they have…it’s 5x the amount of their external debt.  We know they have $115 billion in foreign reserves…they’re saying if this was converted into Iraqi dinars it is approximately 150% of the amount of currency that’s there…They have approximately $8.4 billion in gold assets.  If you add the two together – $124 billion…it comes out to an exchange rate of approximately $1.61…that’s not counting all the other assets like oil and deposits and everything else.  The exchange rate…way undervalued…