Mnt Goat

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Iraq is now pumping over 1/3 more oil. There are also the fertile banks of the Tigris and Euphrates rivers that have been drained and now produce net exports of vegetables and fruits. Then two huge gold mines discovered since and the Central Bank now has more than required gold reserves to back up the dinar, according to Basel requirements. We know this because of the Basel rules currency now enforce asset backed currencies and Iraq has tremendous assets much more “realized” assets then it has even in 1991 when the rate was around $3.22.

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