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Kuwait RI vs Iraqi RV

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Kuwait RI vs Iraqi RV Empty Kuwait RI vs Iraqi RV

Post by openmind Sat Oct 08, 2011 5:05 pm

Perhaps Iraqi Dinar will RV January 1st, into the start of the Iraqi fiscal year. Or it could pop anytime too, I guess. I feel for sure that Erbil has to be done. Erbil is like a gentlemen's agreement between the various religious and political factions within Iraq in which they decide to share the wealth and resources of the country is a democratic fashion. Historically, the Kurds have always been on the wrong side of history when it comes to treaties and wars. They always get shortchanged. So now, that the US is there to promote and secure Iraq's defense, the Kurds and all the other factions will want to make sure this doesn't happen again.

There are many people who make comparisons to the Kuwait RV. I think they are very different. Iraq and Kuwait have a lot of similarities but several fundamental differences as well. Kuwait is made up of one nation (Arabs), one royal family (al-Sabah Family), one religion (Sunni Islam), and more importantly their defense is the sole responsibility of the United States (so long as the oil keeps flowing).

Furthermore, the Kuwaiti Dinar was RI-ed, reinstated. The value of their Dinar was intentionally devalued after Saddam Hussein got his hands on the Kuwaiti Central Bank. Once Saddam's invasion of Kuwait was repelled and he was kicked out of Kuwait, they REINSTATED the KWD's original value within a month.

http://articles.latimes.com/1991-03-24/news/mn-1395_1_kuwaiti-banks

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Kuwait RI vs Iraqi RV Empty Re: Kuwait RI vs Iraqi RV

Post by RamblerNash Mon Oct 12, 2015 8:32 pm

*BUMP*
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Kuwait RI vs Iraqi RV Empty Re: Kuwait RI vs Iraqi RV

Post by Ponee Tue Oct 13, 2015 10:14 am

EXCELLENT BUMP RAMBLER !!

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Kuwait RI vs Iraqi RV Empty Re: Kuwait RI vs Iraqi RV

Post by dwm007 Tue Oct 13, 2015 4:36 pm

I realize that's an old post but still it is worth discussion because it's DEAD WRONG!!!!!!!

Kuwait never "RVed" or "RIed", at least they didn't RI in the sense that they did not do anything that increased the value of their currency, the ONLY "RI" they did was when they reopened the banks and exchanged the old currency for the new at a ONE TO ONE RATE!!!! The official exchange rate for Kuwaiti currency did NOT fall or change at all during the occupation, the unofficial illegal street or blackmarket rate was what was low due to the fact that those who had Kuwaiti currency could not spend it because it was frozen, officially the rate NEVER CHANGED and was still the same. To say the Kuwaitis "RIed" or "RVed" the rate back to where it was is ridiculous because they did not control the blackmarket and that's the ONLY rate that was low, when the banks reopened and the Kuwaiti Dinar again began legal trading (at exactly the same rate it always officially traded for) the blackmarket, and thus those UNOFFICIAL low prices, simply disappeared and the Kuwaiti Government had to do nothing but reopen the banks and continue doing business as always, THERE WAS NO OFFICIAL ACTION DECREEING A CHANGE IN THE RATE!!!!!!!!!


People are trying to compare an unofficial and illegal blackmarket street rate to Iraq's OFFICIAL exchange rate, it's apples to oranges because the blackmarket rate during the occupation has absolutely nothing to do with the official exchange rate and THAT never changed! Iraq would have to enact laws and take other major steps to change it's official rate of 1166 to 1 while the Kuwaiti's simply had to open for business again because their official rate never dropped in the first place. People, the STREET rate don't mean a thing and you can't compare an illegal blackmarket trade to Iraq's official exchange, it's two completely different things.

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