SWFloridaGuy’s Point Of View – Post From Dinar Detectives

SWFloridaGuy: The Finance Committee told us they want to return the value to previous levels. I believe they’re talking about when it was on par or higher than the USD. The only question is how they will accomplish this.

Obviously they will never come out and announce they are about to revalue their currency. The only thing we should ever expect to see is them mentioning removing the zeros.

Iraq’s GDP growth for 2012 was 11.1% Reuters reported that Iraq is the 2nd fastest growing economy in 2012 with $170 billion. Excluding the oil sector the economy is expected to grow by at least 9.4%.
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The latest report to US Congress forecasts Iraq’s GDP growth 3x that of the next strongest MENA economy. In the 70s when Iraq’s currency held a much higher value GDP only ranged from $2 billion – $8 billion.

I don’t think we should underestimate Iraq’s wealth. Let’s not forget that oil is quickly becoming second in Iraq to gold.

The CBI has stated they have significant plans for economic integration. They are currently the premier emerging market, not only in the Middle East, but the world. Iraq has positioned itself to make a significant impact on the oil and energy industry.

In the 70s, when their former currency boasted a much larger value, Iraq’s foreign reserves were only 35 billion. As CBI reserves grow, so does their credibility.

If Iraq was to redenominate they would lose instant credibility, foreign investment and a great opportunity for central banks to use the IQD as an adjustment tool or stimulus during this global financial crisis.

If there was ever a country who was a good candidate for a revaluation it’s Iraq.

Iraq’s money supply and maintaining long term stability are concerns of mine and I don’t have the answer for that. We will never be able to prove that a revaluation is coming, just like the Romanians couldn’t.

But it makes sense for a lot of different reasons and has only increased in value since I’ve had it. So, I will continue to wait and hope for the best possible outcome.