Stryker Blog Some Really Interesting Events.
Between Iraq’s huge Oil Reserves that are estimated now at 350 billion and Iraq’s ability to transform itself into a free market economy, we are about to witness the birth of the next United Arab Emirates.
With all the foreign corporate Capital that is and will be flowing into Iraq through banks like Citigroup, Citi Bank and many others, Iraq will soon be heading toward building each of their private sectors at a very fast pace.
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With these 19 foreign banks operating in Iraq, the Central Bank is now looking to capitalize on their expertise in all banking areas. By the private Iraqi banks integrating with these large foreign banks, the CBI is hopping that Iraq’s banks will grow at a fast pace and build customer confidence at the same time.
Iraq is in the process of settling their remaining debt issues that will then free up their frozen assets that can then be used to back their currency reform, IMO.
Years ago, before I started saving articles and long before I ever thought about starting a public site (that would look strictly at the facts) there were articles that talked about the millions and billions (USD) of Saddam’s frozen funds in many banks but today they just refer to them as frozen funds.
Quote: solve issues of debt and frozen funds before approving the project
The project that this quote is referring to is deleting the zeros, they must have all their debt arranged before they raise the purchasing power of the dinar and then start to delete the zeros. This is something that the IMF has told Iraq for years now.
There are some other very interesting events going on in Iraq as well, like the Kurdistan government distributing $500-$1000 USD to all of the Kurdistan families per month from oil revenue’s.
This has never taken place before, as far as I know, and to do it in USD is even more interesting to me. Is it another sign that they want to keep the dinar money supply down? It sure looks that way to me!
Here’s another interesting thing happening in Iraq right now, a Cabinet Committee established a Committee to develop a mechanism for consolidating Exchange Rate Contracts.
Why would they need a committee to develop a mechanism for consolidating exchange rate contracts unless the CBI was ready to change Iraq’s monetary policy? We are just going to need to wait for the answer to that one my friends, but I like what I am reading right now.