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  1. #31
    Supporter and Investor! millionairetobe71's Avatar
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    Quote Originally Posted by 4aprofit View Post
    Note: From the looks of this article...and as per what all is in it...it does'nt look like Iraq is headed anywhere near the wrong direction.."economically"...lol...

    I agree with you..... I take their information with a grain of salt, if you know what I mean......

    I think they are getting tired of having an undervalued currency when they know well that they have one of the greatest assets in the world, in a moment when the oil is needed the most. And I don't think we will be waiting another 8-9 years to find out their true intentions with their currency.....

    Iraqis are people very proud of their past and heritage. They understand very well their position of power in the Middle East, not only economically, but also religiously. And the one thing, IMHO, that kept them proudest the most is their belief that they had a strong exchange rate. They may have felt economically superiors than Iran, Kuwait and many other countries around the region because their currency value dictated so.

    Now, I believe they want to come back to a strong rate again because they may feel that they are recovering from all those oppressive years and years of war. And that thought is not far from the truth.

    I remember the days when I sat a the JOC in Victory Base. Back in 2008, they were reporting an oil output of 1.76 million barrels p/d....and that is given if the refineries didn't suffer from attacks or the pipes exploded because they were very old and in need of repairs. Now they are pumping around 3.7 million barrels....and I believe that Iraq can easily surpass Saudi Arabia...but.....The "When" is the question.....

    So, in light of those facts.... I hereby proclaim that it won't take long before we will know what will be the results of many years of waiting....

    MTB71
    "We are ready for an unforeseen event that
    may or may not occur." --Al Gore, VP :swear:

  2. #32
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    Quote Originally Posted by millionairetobe71 View Post
    I agree with you..... I take their information with a grain of salt, if you know what I mean......

    I think they are getting tired of having an undervalued currency when they know well that they have one of the greatest assets in the world, in a moment when the oil is needed the most. And I don't think we will be waiting another 8-9 years to find out their true intentions with their currency.....

    Iraqis are people very proud of their past and heritage. They understand very well their position of power in the Middle East, not only economically, but also religiously. And the one thing, IMHO, that kept them proudest the most is their belief that they had a strong exchange rate. They may have felt economically superiors than Iran, Kuwait and many other countries around the region because their currency value dictated so.

    Now, I believe they want to come back to a strong rate again because they may feel that they are recovering from all those oppressive years and years of war. And that thought is not far from the truth.

    I remember the days when I sat a the JOC in Victory Base. Back in 2008, they were reporting an oil output of 1.76 million barrels p/d....and that is given if the refineries didn't suffer from attacks or the pipes exploded because they were very old and in need of repairs. Now they are pumping around 3.7 million barrels....and I believe that Iraq can easily surpass Saudi Arabia...but.....The "When" is the question.....

    So, in light of those facts.... I hereby proclaim that it won't take long before we will know what will be the results of many years of waiting....

    MTB71



    This article should be self-explanatory...in explaining where Iraq is headed as well......nowhere but UP!....


    Aziz Mayahi exclude the Iraqi economy is affected by the global economic crisis is expected to occur in the next year

    07-10-2013 12:38 PM

    Baghdad (news) .. I exclude a member of the Committee on the economy and investment MP / Iraqi bloc white / Aziz Sharif Mayahi, affected the national economy when declining global economic growth in 2014, due to increased production capacity and export Iraqi crude oil. said Mayahi (of the Agency news): The economic crisis, the major hit most of the developed world through Alasnoat the past, Iraq was the only country in the region that was not affected by that crisis, what attributes of the oil reserves large cash reserves of hard currency. added: expectations that refer to a decline in the growth of the global economy over the next year will not affect the Iraqi economy, due to the increase of the system of export Iraqi crude oil according to the plans and the Oil Ministry, and that means, Iraq immune to global crises. This was expected international newspapers through the dissemination of international reports decline in global economic growth in 2014, especially after the crisis that hit the U.S. United States, which began receiving their impact on the dollar, warning that the reports of the decline in demand for oil during the years 2014-2015. noteworthy that Iraq's budget Federal accounted for 93 percent of oil revenues, and this means that the global crises may affect the Iraqi economy rent. / End / 8.'s. m /

    http://www.ikhnews.com/index.php?page=article&id=103721

  3. #33
    Supporter and Investor! millionairetobe71's Avatar
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    Iraq is a "quasi-cash" based economy. Is taking long strides to overcome what Saddam did to them. But it seems to me that slowly is turning back around for the better in regard to their trust for the banking system. Years ago, is was hard to think that they would accept credit cards or bank cards or any other type of electronic system, hell, it was hard to think that they would save anything in the bank!

    So, by been largely a cash based economy, the global crisis would not cause ripples in their economy.

    All they need to do is take care of their currency ASAP!!

    MTB71
    "We are ready for an unforeseen event that
    may or may not occur." --Al Gore, VP :swear:

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