Time for new Currency?

[MilBill]

http://english.aljazeera.net/NR/exer...45CEF5117B.htm

This just came in on Yahoo Alerts!
Bill

[PegBundy]

I wouldn't get too worried. You wouldn't see a democratic country like Iraq teaming its currency with countries like Iran and Syria and Saudi Arabia. The different types of Gov'ts wouldn't be agreeable to monetary policy.

[psychojerm]

I wouldn't get too worried. You wouldn't see a democratic country like Iraq teaming its currency with countries like Iran and Syria and Saudi Arabia. The different types of Gov'ts wouldn't be agreeable to monetary policy.

Iraq most likely will adopt this currency! go check out the GCC forum and there's lots of info about it in there. whatever is going to happen with the dinar will happen before this currency launches IMO.

[buck74]

We have talked about this at lenght in the past. If anyone wants more info they can do a search and there should be tons of it. From what I have read the GCC common currency (like the euro) is expected to come on line 2009 -2011. But no one knows for sure at this point. Because it will be a common currency a person should be able to exchange it in several different countries. I agree that this should not effect us investors because the people with cash dinar should be out long before this will happen. jmo

[kingkong]

I think some of these countries will become unstable in the near future and this will be delayed. Syria and Iran, S.A. are having serious internal conflict.

This is all my opinion, throwing it out for thoughts.

[JASONTL]

Iraq will join the GCC, and adopt the new currency if everything goes as planned. Which is the big question. Iraq is still ridng the razor's edge on which way it is going to go. There is still a ton of uncertainty. If the constituiton is rejected, Iraq will take a giant step backward. If the constitution is accepted without the Sunni's approval, we are in for just more of the same of the last 2 1/2 years. If somehow the Sunnis will accept the constitution, and get on board, it will be mostly down hill, and Iraq will prosper quickly. There is much to debate in regards to Iraq's future. Back to the topic. More importantly wether or not Iraq adopts the GCC currency is wether or not the GCC currency will be pegged to the dollar. We are "attatched" to the middle east as they are to us thru the oil and the dollar connection. If they choose to use the euro, or even lean to the euro, we would spin into a recession, as europe and the GCC spins upward. It could be the beginning of the end for the U.S superpower legacy.