View Full Version : Then, and Now

09-22-2016, 04:49 PM

From Sept. 18th to Sept. 23, 1949, 16 countries Proposed, and the Fund (IMF) concurred on an adjustment to the value of their currencies . On 9/18/49, the Iraqi Dinar went from 1 IQD = $4.03 to 1 IQD = $2.80. Since Saddam didn't come to power until 1979, he couldn't have been responsible for these levels. South Africa's, (think gold mines) currency mirrored the Dinar's value change on that day.

and Now

Iraq won’t participate in any action that will reduce prices, and it won’t flood the market, said Al-Amri, who is also the director general of the country’s Oil Marketing Co., known as SOMO. The nation pumped 4.775 million barrels a day in January, a modest increase from its output in 1979 of 3.8 million, he said.

Iraq is producing more than it did in 1949, or 1979 but the currency isn't worth anywhere near...well, you know.
I'm not greedy, I'd settle for the .85 where the euro opened. Just a historical reference, not predicting any rate.


09-22-2016, 06:00 PM
Mr. Dollarsign...so good to hear from you again!

I'd settle for .85 in a heartbeat, especially if Warka allows withdrawals. 12 years ago I thought it would be a slam dunk. Once O-bla-bla got in the picture, I lost hope.

09-22-2016, 06:17 PM
Anyone running, and I do mean anyone running for President has very strong ideas of how the world should work. But unless they have been on the House, or Senate Select Committee for Intelligence, or served in U.S. Military Intelligence, they are no different from the average Joe, they've never had access to the nations most guarded secrets. Once exposed to those, then they understand things they didn't before. At that point, left or right, they race to the center. It is the reason most feel they're all the same.
So don't get down about this 40plus. I mean, GITMO is STILL open isn't it?

09-23-2016, 06:16 AM
True, it is open, though his policies have certainly been detrimental to Iraq's early recovery. I do have some hope if our next President is who I hope it is.