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    Will they or won't they?.......Do they have to?.......Do they want to?

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    Will they or won't they?.......Do they have to?.......Do they want to?

    Post  Guest on Fri 04 Apr 2014, 17:26

    butterfly wrote:
    Zig wrote:
    butterfly wrote:Large oil find in Iraq secured by Korea National Oil Corporation
    04 Apr 2014

    Around 39 billion barrels of oil in Iraq has been secured by the Korea National Oil Corporation. It is estimated that with this reserve Korea can manage its 18 to 20 days oil consumption.

    The KNOC said that it has detected an oil reserve equivalent to 258 million barrels in the Demir Dagh well at the Hawler minefield in Iraq's Kurdish region. Commercial production is due to begin soon, it added.

    A company spokesperson remarked, "This is the largest amount of oil the company has secured from a single well since its founding."

    The KNOC will start producing 10,000 barrels of oil per day at the site from early this month. It plans to increase this to 40,000 barrels a day when additional production facilities are completed in late August.



    They're swimmin' in oil, Butter!!......I tell ya they're swimmin' in it!!!...... Shocked



    I agree.....so "why should/would they  raise the value of their dinar?".

    They are making more moola since they were set free of the dictator.




    I moved this here because it is a good question.......and maybe when Seck does his call he can have an economist on and ask this question...........

    I am far from an expert in currency policies or economics.....etc......I can only repeat what others are/have said regarding this.......Most think it will revalue since it was artificially lowered during the war.........and there are many other reasons people give........saying with all their resources how can the currency be kept so low.......and since many agree that they are pulling the larger notes they assume that it is to reduce the money supply to get ready for an increase in value.......and also because Kuwait is so much higher.........and also to make the Dinar a valuable currency to be held by other central banks.......and to repay other countries who forgave debt who may be holding lots of Dinar.....and they want to get away from using the dollar.....

    Then there is the question of all the articles about deletion of zeros.......and making the Dinar a floating currency whose value is market dependent......going from a closed to an open market policy......making the Dinar more convertible.....i.e.....have more liquidity so it can be easily exchanged by businesses coming into Iraq from outside.....so they can get profits out easily.......saying the IMF wants floating currencies......and there is the WTO........there are so many variables.........most people who have Dinar are not currency nor economics experts, so they listen to the rumors........and are swayed.........but we really won't know until something happens.......okay enough from me.......LOL.......I admit I just don't know but that's okay........after all it is speculative.......
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    butterfly
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    Re: Will they or won't they?.......Do they have to?.......Do they want to?

    Post  butterfly on Fri 04 Apr 2014, 19:10

    .and since many agree that they are pulling the larger notes they assume that it is to reduce the money supply to get ready for an increase in value

    I have a problem with them saying this because all the dealers re-order and what comes back......the large notes. We as citizens/investors hold a lot of the larger notes....other countries hold the larger notes......so............

      Current date/time is Sat 19 Aug 2017, 20:14