You see in the Iraq [Central] Bank on their website it tells you how much currency was created – 55 trillion dinar. But what is not put on there is how much of it was destroyed? There was a flood and the banks had to destroy that money. How much of it was taken by ISIS and destroyed? We don’t know…I did show an article in which it stated that Iraq was taking $1.5 billion of their oil money, buying back the IQD off the open market. This is great news. Think supply and demand. If there truly is that much Iraq dinar out there, there’s no way you could possibly do it at $3.00. It would bankrupt the country. This is the first time I hear this – 70% of the money supply [removed from market] that makes it way more realistic that a revalue can be done at that rate.
Quote “The Central Bank’s aggressive policies spent $1 billion to $1.5 billion every month in oil revenues to buy physical IQD supply on the open market said by Moldov a senior advisor to the bank.” …you remove 70% of it that brings it way down. Again, this is only what they bought and destroyed…We also know that there is something like 95% of the supply is out of country 5% of it is in country. I can tell you this that the big portion of the existing IQD is in the hands of banks…the average speculator has 250,000 IQD. That’s the average.
So if they removed 70% of the money supply, plus all them that have been damaged just through natural wear and tear, ones that were taken by ISIS, ones damaged during the flood that means the actual amount of IQD out there is very low. Now that makes it very realistic that the IQD can indeed be revalued around $3.00 if not more. I’m not saying that’s the rate. I’m saying that is a more realistic rate given the fact that we know for sure now that the amount of existing IQD has been reduced by at least a minimum of 70%…this is great news!Tags: chat, investment, pimpy’s /