Comparing Iraq to the United States is erroneous from the start. The US is THE wealthiest nation in the world. For Iraq to become "one of the wealthiest nations" it does not need to either meet or exceed the US standards. According to what I have read recently Iraq's wealth is expected to double in the next 2 years. If they doubled every two years for a decade then Iraq would be 32 times larger in wealth than it is today, all in just 10 years. This is the sort of growth potential that is being referred to in articles. In none of them is there a comparison made to the US economy, and there shouldn't be one.
The numbers of 8 cents to 62 cents put forward by the author of this "no hype" commentary come from pure air and are not based on anything in writing that I have ever seen. However, I have seen in writing as well as heard directly from Iraqi leaders (Shabibi and Maliki) that the plan is to return the value of the dinar to what it was prior to the Saddam Hussein regime. That number is in writing: it is $3.33 per dinar.
Factual numbers without Guru Hype
Just some simple math to be debated or flamed, whichever is your preference. This is just opinion and hopefully helps some to rely on educating themselves and not listening to guru hype. I just hope it opens some eyes to how long term this investment may be.
Some people seem to think Iraq is to be one of the wealthiest nations so here are some current approximate numbers.
US GDP= $14.1 trillion Iraq GDP= $65-80 billion dollars, 2050 forecast Iraq GDP 2.2 trillion
US GDP per capita=$45,000 Iraq GDP per capita= $2800-$3500
For Iraq to break even per capita with the United States, Iraq would need a $1.4 trillion GDP at current population levels. That level is 20 years down the road with no population increase. Realistic current RV would appear to be between 8 cents and 82 cents if we are lucky, which I would be happy with.
Remember, the rich didn't get rich by allowing the common man to make an easy dollar. Now, with the National debt ceiling in the balance, I'm sure the game is afoot. I fear our best windows have passed and unfortunately the dollar may devalue as fast as the dinar revalues. Good or Bad, who knows. Just some eye opening information.
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