gdp in u.s.a has dropped to $5trillion and the m2 has swelled to $13trillion,recently and m3 is even higher. your facts are old and before the stock market crash. why we can't even employ all of our people. over ten per cent unemployment and with obama we will continue with deficits until the m2 is 35 trillion.
also iraq has 21 trillion originally printed nid,but the central bank has had several fires in the past by burning up bought back dinars in their incinerators. cnbc had a couple of guests talking about a 40% to 55% further drop in the u.s. dollar over the next few years.
so you can see where i am going here capisch?
aero>>"It's an absolute fact that Iraq suffered from massive inflation during the late 80's and 90's. That is what destroyed the value of the currency.
There is no amount of oil in the ground that can undo that."
and here we thought it was because england printed too many nid to start with. make up your mind which is it?
the forgiveness of all the debt iraq owed balances their books for growth.
also iraq has the light sweet crude that costs $1per barrel to get out of the ground to market and mANY OF YOUR other countries it costs $50 per barrel like iran, aero you don't take any of this into your considerations.
the federal reserve system has been printing trillions to shoe up the u s a ,so much so that they don't want themselves to be audited by congress ,because it would create a shock or panic on the u s federal reserve note.
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