How do you know the Iraq dinar will be reevaluated?

Answer 1

The Dinar in Iraq has to revalue because Iraq has more than 115 billion barrels of crude oil reserves. Very little of Iraq has been geologically explored, with modern seismic techniques, because of restrictions of the Iraqi government for the past 40 years. The 115 figure comes from old surveys, and is likely to be much higher.

Senior Iraqi officials have publicly stated that the petroleum reserves of Iraq are the largest in the world, much larger than the Saudi reserves.

Crude oil in Iraq is "sweet light crude", meaning it is very high quality, and is extremely cheap to produce, at around $2 a barrel in production costs, which are the cheapest in the world, even factoring the high cost of security.

Iraq is likely to emerge, in the next few years, as one of the wealthiest nations in the world. If Iraq does indeed, have 300 billion barrels of oil, and oil stays at least at $100 a barrel, due to Peak Oil, then the value of that asset would be $4 million U.S. dollars, per Iraqi.

SCGS US has more information about the Dinar revalue and Dinar rumors.