The Strait of Hormuz…What would happen if and when oil hits $200 a barrel? The Iraqi budget wouldn’t just balance, it would explode in a massive surplus. Is this the event that would trigger the IQD currency adjustment? Iraq’s economy depends on oil and their budget will balance if oil is priced at $70 per barrel. If oil goes to $150 to $200 a barrel, Iraq’s foreign reserves would double within months. We already know they have $100 billion in foreign reserve in the United States…This is not a pie in the sky assessment. This is an assessment global economists can clearly see and now you can see. :Sandy Ingram
