JCNoble: As we wait for the next hoop to be jumped through in Iraq you have to acknowledge their consistency of action. The pattern of delay each time an announced decision point is reached is now almost proverbial. Hopefully this consistency will be broken soon.
Fullsail: The way I understand it, is that iraq with assets multiple times that of kuwait, iraq’s curr value would exceed that of kuwait’s post rv curr value. never heard that iraq would be less than kuwait post rv.
RVAlready: Fullsail, I think the main difference between Iraq and Kuwait, is the Iraq has a much larger population. In Kuwait, I believe the citizens can live off the oil riches of the country completely. In Iraq, the oil money per capital is much less. In Iraq, I think the citizens must always work for a living.
Fuze: Rvalready, you’re correct about population difference….Kuwait about 4.8 million and Iraq about 37 million, it makes a difference in a number of areas…however Iraq has a number of other natural resources than oil, that may not be as plentiful in Kuwait., if they just stop acting a fool long enough to benefit from them
Fullsail: rva… re: per capita I concur, though per capita not considered basis of curr value but based on a countries’ total assets value, differ than method of extraction. ie: Gold Mining valuations, assets shown as ‘Proven’ value per Registered Geologists assessment, whether alluvial / placer or method of extraction. Of course, easier to extract the more desirable. Value basis from assets.
RVAlready: Per capita does not affect the RV, but it affects the lives of the citizens in Iraq. As D.C. Used to say – people with income do not become terrorists….. I was really just here to counter the idea that a system paid for by oil, as in Kuwait, turns everyone into useless bums. And, at the very least, they are not terrorists building car bombs and blowing up themselves and other citizens.
Eccle519: I believe they (US and all world financial systems) are coordinating many countries like VN and Zimb. etc as stated for the first basket of currency. Iraq is having her little problems but the big picture is right on Que. Our financial problems have zero to do with this but the benefit (according to GCR) is coming world wide imo
Harambe: Bloomberg: Iraq Gets Exemption From U.S. Sanctions on Iran’s Energy Exports https://www.bloomberg.com/news/articles/2018-11-06/iraq-gets-exemption-from-u-s-sanctions-on-iran-s-energy-exports
Harambe: Reuters Exclusive: Iraq close to deal with foreign firms to upgrade output,… https://reut.rs/2JJXJWn
Harambe: Bloomberg: Iraq to Boost China Oil Sales by 60% as OPEC Giant Eyes Asia https://www.bloomberg.com/news/articles/2018-11-06/iraq-to-boost-china-oil-sales-by-60-as-opec-giant-eyes-asia
Harambe: CNBC: Oil tumbles 2%, briefly enters bear market, after Trump grants Iran sanctions waivers https://www.cnbc.com/2018/11/06/oil-markets-us-sanctions-on-iran-global-economy-in-focus.html