Replies to post #18884 on Iraqi Dinar Discussion Board (IQD)

[realest]

trillion dollars, considering the rest of the world going to heck in a handbasket...... they'll pay it off for pennies on the dollar by desperate governments attempting to save themselves from this coming Depression (although i think it's arrived and here to stay for a bit.)

[D-Block]

I'd say you're right, that is massive. Right now the U.S. debt is $10 trillion+, which is roughly 70% of our GDP. I don't know what Iraq's GDP for 2008 is, but last year from what I can see it was roughly $100 billion with a "b." So their debt is still 10 times their total market value. It's getting better, but still, that's pretty big.

I know I'll probably get pelted w/ rotten tomatoes for saying this, but I just can't see how a "reval" is possible under these conditions. That's OK by me if other people see it otherwise, to each his own.

However, I do think it's worthwhile as a hedge against the almighty dollar - the dinar gained in value while the dollar was sinking. Right now, "$" has rallied (and IQD has continued to improve), but I just can't see that lasting long, the fed's printin presses have had hemi engines put in...