RKM704: Very Well Spoken & Easy to Understand!! .60/.64
Biblitarian wrote: Dinarians IQD .60/.64?
These calculations or lower rates pertain to the IQD, not the IQN, and these rates are restricted to within the country of Iraq. The IQD is the "non-asset backed currencey"; whereas the IQN is the "oil-backed currency".
Today the IQN is based upon "one oil" credit which is 35 Dinars. For each IQN, its $36 U.S. dollars and it takes 35 dinar for one oil credit. Thus, for one oil credit, the US. Banks and UST gets $1260, which is 35 dinars times $36 dollars.
Thus, $36 Dollars multiplied by 35 dinars pays the UST and the Federal Reserve Banks $1260 for one oil credit. They have to buy Iraqi oil with dinar and not US dollars, so they want dinar but what they really want is buying power to purchase more oil.
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The cost for each barrel of oil is about $100 US Dollars, so the banks and UST are calculating as follows: They take 35 IQN's which is one oil credit times $36 US dollars, which is the sum of $1260, and this is what the banks and the UST make per one oil credit.
In other words one oil credit pays the banks and the UST $1260 per oil credit, so they do not mind paying $36 dollars for one Dinar with non-asset backed US. currency.
The Banks and UST will make much more by buying the Dinar from you. This is why they are paying Dinarians $36 US Dollars per one Dinar.
It's all about buying the oil cheaper, and the market for oil in the USA is very large, as the US people are gluttons for more oil! This means if the banks and the UST get oil, they have a customer who will buy, but what the NDA is about is that we do not bring this out.
If the people in the US find out that the real price of oil much cheaper, but they are paying for fuel at the pumps as if the price of oil is $100 per barrel, there will be a backlash major league.
If the banks and the UST can make many, many dollars for buying cheap Iraqi oil, they can pay off the 600 Trillion dirivatives and pay off the National Debt.
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