Replies to post #7172 on Iraqi Dinar Discussion Board (IQD)

[strongtower]

Yep, all oil is done in dollars by OPEC.

[Rasica]

Your example is static. For example, when the production of oil plummeted towards the end of Hussein's reign...the Dinar plummeted as well. IOW's the values of the Dinar is inseperable to production of oil.

One can think in terms of Iraq producing only 1 barrel of oil/month compared to 350 million barrels/month. Iraq may get the going rate..but the Dinar will definately loose its value quickly if it plummets to only 1 barrel/month.