I’ve been saying for a couple of months now that oil to ~$60 was what I want to see. This is not because $60 is a “magic number”, so even though we *almost* hit $60 this week ($59.85 I think!!!), I’m going to state that the oil price is “close enough” and we are officially in the GREEN ZONE on that aspect. A declining price in oil would have made the RV-Button-Pushers pull back. That didn’t happen. A sudden spike to $60 would have urged no action, because a sudden pullback would have been expected. That didn’t happen either! What we have been seeing in the price of oil is a steady climb, very controlled and consistent, towards the $60 mark. …Keep in mind that the OPEC oil production limitation agreement that virtually every OPEC country/member has signed onto, with the exception of Iraq, is largely responsible for this controlled growth.
We all know that it won’t just be us little investors and Iraq that benefits from a change in the Iraqi Dinar. Every country that has physical dinar in their reserves, or any kind of trade alliance with Iraq, will also benefit. That’s one piece of the puzzle, and an important one, but what’s even more important is the overall picture… which just keeps getting better and better. Iraq’s reserves reporting positive news: “CBI News 03/20/2019 Annual Report of the performance of foreign reserves of the Central Bank of Iraq” Quote: “Iraq’s foreign reserves rise 32.6% last year Central Bank of Iraq” Iraq could not ask for a better scenario under which to increase the value of their currency.