8-27-2012 Dontlop (Part 1): If you just ask what backs up the dollar, we only have 146 billion in foreign reserves in the US. We have around a trillion in actual physical currency.
We don't know what’s going to happen until the IMF does whatever it does with this new currency redenomination and its exchange rates with the current dinar.
If it's simple division, then thats what it is. They started out with what 28 trillion dinars, about 28 billion dollars worth of wealth in currency. I'd say just Baghdad alone is worth more than that.
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Not to mention its ports air and sea and its highway system throughout the country and all its other cities. The real estate, artifacts and natural resources. But I agree we don't know the finality of the big picture and Iraq's true wealth. The census reports will unveil it all soon.
8-27-2012 Dontlop (Part 2): They couldnt just take Saddam's currency away and give them nothing. So, they gave them a new currency to get the ball roling until they get things squared away.
They gave them 28 billion dollars and they can't say ok divide that up and that's how much each house is worth, how much all your schools are worth how much each house is worth.,Hospitals all the roads artifacts, treasure, every port along the rivers, every gas station, every store etc.
Iraq's wealth is far greater than what they were given in 2003 and it takes a long time to figure it all out with a census.
At this point they must add into the equation all the new things they have added like power plants, pipelines and oil wells that are in production.
The new adjusted wealth is what we are waiting for as far as a RV.
FROM DINAR DETECTIVES:
8-27-2012 Patchz12: Meeting between Maliki, Nijaifi creates good base for holding National Meeting. "The meeting between Maliki and Nijaifi, as the important step to settle all the previous crises.
The meeting between two important figures of the political process in Iraq will have a big affect over settling the pending issues in addition to the important results that will highly affect the parliament performance in endorsing the law drafts.
This meeting created the suitable base for holding the National Meeting and gave a big power to provide the good atmosphere for the political leaders." Read more