Thread: Iraq/Dinar News to April 19, 2007 10PM CST

Originally Posted by Ranger III

While I agree that debt reduction is certainly helpful to our cause, I really don't see the connection between debt reduction and the timing of
the r/v.

I suspect that Saudi Arabian and Kuwaiti insiders understand Iraq's currency situation better than we do. At this point Saudi Arabia and Kuwait are
seeing Iraq as a worthy competitor. How then does Iraq exert any leverage
over those two countries by letting it be known that it won't r/v unless
they forgive its debts? In other words, my view is that Iraq gains nothing
by saying that unless you forgive our debts, we're going to continue to shoot
ourselves in the feet by not revaluing.

Saudi Arabia, Kuwait and other Middle Eastern countries obviously don't mind seeing their future competitor twist in the wind for the time being.

Iraq needs to take the bull by the horns and take some decisive action on
its own, instead of waiting on everyone else in the world to relieve its burdens.

In terms of natural resources per capita, Iraq may be the richest country in
the world. Other countries are rightfully beginning to take a dim view of
such a rich nation state continuing to hold its hand out four years after it
was liberated. They know that forgiving Iraq all of its debts could very
well serve to slingshot Iraq way beyond them in a relatively short period of
time. Why shouldn't Iraq start to bear its own burdens as other countries
do?

it wasnt my point that they are using the revalue as a bargaining tool. really the only ones who are concerned about the revalue are the people who invested in dinar and the ones who continue to hold it on the ground in iraq. dont ask me why theyve chosen to do it this way but i have read enough to know that when the debt is gone, the country will begin to prosper.

and on the burden note, they didnt incur these debts they are trying to get relieved but they are responsible since saddam was running the show and put them in debt. they are his bills not the countries.