Jeff says -- There's a very good chance that when the rate changes Iraq could...do what Kuwait did and unpeg from the US dollar

by **Ponee** Mon Mar 22, 2021 8:58 pm

Jeff

Back in 1973 the value of the dinar against the dollar was $3.37...Iraq is the wealthiest country in the world...Iraq's worth more money than Kuwait...[The reason] Kuwait has the highest value currency in the world is when they changed their rate they unpegged their currency from the US dollar and re-pegged to the highest valued currency assortment basket...it's called the KUNA basket...the value of their currency against the US dollar is approximately $3.28.  Iraq has more minerals in their soil. They've got gold, lithium, diamonds, natural gas. They're the wealthiest country in the world. There's a very good chance that when the rate changes Iraq could...do what Kuwait did and unpeg from the US dollar and peg to that same currency assortment basket called the KUNA the highest valued basket in the world...

There's conflicting news...you have some articles telling you that everything's kosher between Kurdistan and Baghdad and that they can resolve their differences and complete the budget next Sunday. Then you had another article telling you no no wait a second this political block says nope that until that exchange rate gets increased they're not going to be able to approve the budget...my gut is telling me...they're not going to change the rate at this time. There will be no budget approval...

Article: "Kurdish Parliament: A new round of talks for the Kurdish delegation in Baghdad next week"  For the rate change to even happen, at a minimum, Kurdistan and Baghdad have to reach full an agreements on the budget.