8-24-2012 SocalDinar: "Economic parliamentary - sell gold coins and other currencies in the CBI auction method to reduce the price of the USD against the IQD." Seems odd for Iraq to sell its gold reserves.
It can back its currency so why? Could be the Fed and IMF manipulating price of gold in a effort to keep the price down. Gold has been on the rise this month but still down $188 on the year.
Im sure we will see Italy and Germany and France dropping some Au soon. A run on Gold is not good for the USD . The Fed needs to keep the cost of gold down.
8-24-2012 SocalDinar: The rate is not correct. It has been manipulated. I don't believe the money supply to be 70 trillion. I dont care what the CBI documents clearly show. I believe the CBI has 2 sets of books.
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The World Bank, IMF and Fed are all in this. Saddam tryed to manipulate the USD and thats the real reason we took him out. Not oil Not WMD. World wide experiment in fiat currency is coming to an end.
Every country that has used a fiat currency has failed 100 % of the time. This Probably should have happened already but the crash of 2008 changed everything . The plan had to be rewritten. USD is worthless, Our headline inflation is well into double digits.
Core inflation numbers are worthless and fabricated. Look at the price of Gas Its over Double what it was 4 years ago. DOUBLE!!!
Anyone Buy a loaf of bread lately. Our standard of living is in a downward spiral. Very little left to borrow, Most have or are using up their savings.
The 99 percent people are wanting more from government but this is what caused the problem in the first place. Welfare, pensions, entitlements.
Where does this money come from. The treasury borrows from the Fed and they print it up which increases the money supply which creates runaway inflation. We could never cover the Government Bonds (IOUS) issued. Never and yet the money is owed plus interest.
Although Iraqs foreign reserves are held at the fed. They really don't exist other than IOUs. Iraq can back its currency with oil. That's more than the USA can say. A heck of a lot more. Remember this is just my opinion.