12-17-12 Yota691 (Dinar Vets): Here it is, this subject was brought up at the first of this year when they had the articles that talk about the 1000..Basically they raise the rate until 1000 dinars equals 1 US dollar. That gives them an in country rate and a starting point to let it trade with the market.
At that point they can have both currencies in the market (old and new) at the same time and educate the Iraqis to the new value and its buying power. Now at one point there was a multiplier in place for all out of country investors that varied from country to country as far as the rate goes.
I don't know if there will be a multiplier used on a forced RV. So if we had to eventually come back to complete the Gov't reforms that were agreed upon the most we could see would be an RI, plus inflation. It's hard to say with all that has occurred whether or not we see an RV or a float or even a little of both.
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12-17-12 LIBoy: My theory is that it will be an in country lop only. This will allow Iraq to collect the 000's from inside the country and create a smooth process over to the new denoms. After that phase is complete, I believe foreign investors will be able to cash in their dinar at face value through the banks in their countries.
The federal reserve banks in those countries will then collect that dinar and give it back to Iraq in return for oil at a predetermined rate of exchange.
Again it is my belief, and only my belief, that the plan from the beginning was to allow the people of Iraq to prosper through the HCL while foreign investors will prosper due to their foresight to invest in the rebuilding of Iraq through purchasing their currency.
Unfortunately, I think a lot of investors are going to cash in after the in country lop thinking that is the end of it. DO NOT fall into that trap. Be patient and wait for the other shoe to drop. That is when the true blessing will unfold.
That is one theory among many. Only time will tell where the truth lies. Have a great day all.
12-17-12 Karen43: Announced OPEC that Iraq record this year the highest increase in oil production since 1998, becoming the second largest oil producer among OECD countries after Saudi Arabia, at which time it intends to both Libya and Nigeria raise their output of oil As of next year in an attempt to take advantage of high oil prices.
Plans Iraq from next year to return to the production levels that existed during the rule of President Saddam Hussein, but he puts in the forefront of his priorities at the moment to rebuild the industrial sector oil which was damaged during the past years due to war and sanctions, and that, according to Gulf News Bahrain.
According to data «OPEC» published by the agency «Bloomberg» American News, Iraq raise oil production during the current year 2012 by 650 thousand barrels per day, up to 3.35 million barrels per day, which the highest level of production for 14 years.
The foreign companies to extract oil in Iraq, and charge a fixed sum of money for every barrel of oil produced, regardless of world oil prices. The Iraqi government plans to raise the country's oil production to average 3.7 million barrels per day over the next year 2013. Read more