[el mechanico]

(09-21-2011 03:07 PM)defguy Wrote:  

The president of Iraq has been announcing for years he intends to revalue the dinar to give people more buying power. Iraq is the 2nd major source of oil in the world, maybe the first if they come up with enough money to drill for more and find more. It has to happen because the standard of living will stay low unless they do revalue. If they dont, the economy simply cannot grow. The problem is the government moves far slower than ours does. It wont happen for a long time, people have been holding the dinar for over 10 yrs just waiting for it to revalue. Assuming that the economy is based off of oil, like Saudi Arabia's economy, Iraq Dinar SHOULD be similar in value. Look at all the neighboring countries currency. Iraq is the lowest even though it shouldnt be. But SHOULD and IS are 2 very different concepts. I bought several million "just in case." Though I wont spend any more money on it and I dont expect it to happen. If it does, Ill be a millionaire overnight, if it doesnt, I havent lost much...

In theory our government could bank if they revalue? Could they push this in these trying times?