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STATUS OF THE RV, PART. 3
😊One more important article in the news titled “ADVISOR TO THE PRIME MINISTER: THE VALUE OF IRAQ’S NATURAL RESOURCES EXCEEDS $16 TRILLION”.
I saved the best for last…lol..lol… 😊 😊 😊
In this news we read that the Prime Minister’s financial advisor, Mazhar Mohammed Salih, confirmed on Wednesday that Iraq is moving towards diversifying its GDP sources by expanding investment in the mining sector. He noted that the value of Iraq’s natural resources exceeds $16 trillion.
The government has signed memoranda of understanding with reputable international companies in the fields of mineral exploration and investment, particularly in phosphate, sulfur, lithium, and copper fields.
This is within the framework of the strategic directions of the Iraqi government’s program to diversify sources of national income and optimally utilize the country’s resources.” He added, “Investment in the mining sector will contribute to attracting billions of dollars in fields ripe for development.
All I can add is WOW! WOW! WOW! Sounds to me that when they ramp up this effort into high-gear, Iraq could see this revenue stream almost, if not equaling the oil revenues. So, again we see Iraq beating it’s chest as they are proud of their wealth. So they are identifying all these assets. Basel requirements state the currency should reflect the value of the assets of that nation. What are they waiting for?
Okay now that we heard about Iraq bragging and beating it’s chest again, lets again look at a summary of the potential revenue streams for Iraq:
- Oil revenues (realized and untapped)
- Customs and Tariffs (told us it can rival the oil revenues)
- Tourism (hotels, holy shrines, pilgrimages, museums, etc)
- Agriculture exports
- Development Centers / Industrial Cities (soon to generate many exported products)
- a diverse stock of untapped minerals (sulfur, phosphate, and rock salt, iron, manganese, zinc, lead, lithium, and copper fields.)
- Some rare earth minerals.
- Gold Mines in Iraq
What did I miss? WOW! WOW! WOW! WOW! WOW! WOW! WOW! WOW! WOW! WOW!
In my last Newsletter from Tuesday 6/3 what was the headlines? Oh …. Didn’t the UN just tell us that “IRAQ WILL BECOME A BANKING POWERHOUSE BOTH DOMESTICALLY AND INTERNATIONALLY”.
Yes, wealth is leadership and Iraq is certainly taking the point lead under Al-Sudani in this area.
As you know I often they come up with comparisons to visualize where we are with the RV saga.
The choo-choo train is still moving down the tracks quickly. It may make stops along the way, such as to combat money laundering, implementing financial reforms, implementing the Development Road Project, etc, etc. But all trains eventually make it to the end of track.
This end is coming. Remember also that we read a lot of articles about what Iraq wants to and the resources involved. Many of these plans are already accomplished, some now in motion and some still in the planning stages. So we must be patient and let these efforts blossom in reality.
It's kind of like blowing up a balloon. It will only take so much air before it pops. Iraq is about to reach that point. They do not have to implement all of these plans to get there. Later this wealth will sustain the value of the dinar once reinstated.
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