.283 is 3.53356890459364 or 3.53 USD to the Kuwaiti Dinar.
Now, look at this map:
Look how small Kuwait is.
NOW LOOK HOW BIG IRAQ IS!!!!!!!
One of these days folks, ONE OF THESE DAYS, when Iraq gets their act together, YOU WILL SEE THEIR EXCHANGE RATE CHANGE close to what KUWAIT'S IS NOW. Does this make sense to you?
Let's look at a little history on the Kuwaiti Dinar ~
The dinar was introduced in 1961 to replace the Gulf rupee. It was initially equivalent to one pound sterling. As the rupee was fixed at 1 shilling 6 pence, this resulted in a conversion rate of 13 1⁄3 rupees to the dinar.
When Iraq invaded Kuwait in 1990, the Iraqi dinar replaced the Kuwaiti dinar as the currency and large quantities of banknotes were stolen by the invading forces. After liberation, the Kuwaiti dinar was restored as the country's currency and a new banknote series was introduced, allowing the previous notes, including those stolen, to be demonetized.
To date five series of the Kuwaiti dinar banknote have been printed. The first series was issued following the pronouncement of the Kuwaiti Currency Law in 1960 which established the Kuwaiti Currency Board. This series was in circulation from 1 April 1961 to 1 February 1982 and consisted of denominations of 1⁄4, 1⁄2, 1, 5 and 10 dinars.
After the creation of the Central Bank of Kuwait in 1969 as a replacement to the Kuwaiti Currency Board, new 1⁄4, 1⁄2 and 10 dinar notes were issued from 17 November 1970, followed by the new 1 and 5 dinar notes of the second series on 20 April 1971. This second series was likewise withdrawn on 1 February 1982.
The third series was issued on 20 February 1980, after the accession to the throne of Emir Jaber al-Ahmad al-Jaber al-Sabah, at that time in denominations of 1⁄4, 1⁄2, 1, 5 and 10 dinar. A 20 dinar banknote was introduced on 9 February 1986. As a result of the state of emergency after Iraq's invasion of Kuwait, this series was ruled invalid with effect from 30 September 1991. Significant quantities of these notes were stolen by Iraqi forces and some have appeared on the international numismatic market. The "Standard Catalog of World Paper Money" (A. Pick, Krause Publications) lists notes with the following serial number prefix denominators as being among those stolen:
After the liberation, a fourth series was issued on 24 March 1991 with the aims of replacing the previous withdrawn series as quickly as possible and guaranteeing the country's swift economic recovery. This fourth series was legal tender until 16 February 1995. Denominations were 1⁄4, 1⁄2, 1, 5, 10 and 20 dinar.
The fifth series of Kuwaiti banknotes has been in use since 3 April 1994 and include high-tech security measures which have now become standard for banknotes. Denominations were as in the fourth series.
~~ SOUND FAMILIAR?? RED LILY ~
From 18 March 1975 to 4 January 2003, the dinar was pegged to a weighted currency basket. From 5 January 2003 until 20 May 2007, the pegging was switched to 1 US dollar = 0.29963 dinar with margins of ±3.5%. The central rate translates to approximately 1 dinar = $3.53 (USD) (Do the math)
From 16 June 2007, the Kuwaiti dinar was re-pegged to a basket of currencies, and is now worth about (). It is the world's highest-valued currency unit. SOURCE LINK
I was talking with a friend last night who is invested and they wanted me to explain to them in layman's terms. Now I may be right, or I may be wrong, BUT...This is basically what I told them and I want you all to consider the following and decide for yourself....
During the the first Invasion of Iraq when Saddam invaded Kuwait, their currency plummeted as well. So did Germany's during WWII. It's just what happens to war torn countries.
There was no internet, or it wasn't mainstream, when we invaded Iraq in the early 90's when Iraq invaded Kuwait and it was easier to keep things a "secret". There is still little we have access to on the World Wide Web regarding this "timeframe" .. BUT, we have that deggum UN site that shows all countries rates do we not???
WE as a people have never been able to track a country's currency in "real time" coming out of war as closely as we can today. I believe this contributes to much of our confusion. Either we do not have enough access or too much access. THEN we have to filter through what is truth and what is scam or fiction..... right?
This is why the IMF and the World BANK are right in the middle of Iraq's business. They WANT Iraq to be successful. BUT there IS a method to the madness. The IMF and World Bank are there to monitor the situation and train people in Iraq on Global Banking policies. RED LILY ~
WHAT IS THE PURPOSE OF THE IMF ANYWAY?
The IMF’s responsibilities: The IMF's primary purpose is to ensure the stability of the international monetary system—the system of exchange rates and international payments that enables countries (and their citizens) to transact with one other. This system is essential for promoting sustainable economic growth, increasing living standards, and reducing poverty. The Fund’s mandate has recently been clarified and updated to cover the full range of macroeconomic and financial sector issues that bear on global stability.
WHY DO WE NEED THE IMF?
Why the IMF was created and how it works
The IMF, also known as the “Fund,” was conceived at a United Nations conference convened in Bretton Woods, New Hampshire, United States, in July 1944. The 44 governments represented at that conference sought to build a framework for economic cooperation that would avoid a repetition of the vicious circle of competitive devaluations that had contributed to the Great Depression of the 1930s. SOURCE LINK
WHERE IS IRAQ IN ALL OF THIS:
IMO: THEY ARE UNDER SURVEILLANCE. WHICH MAKES SENSE BECAUSE WE ONLY PULLED OUR TROOPS OUT OF IRAQ DECEMBER 31, 2011 (1).
Surveillance: To maintain stability and prevent crises in the international monetary system, the IMF reviews country policies, as well as national, regional, and global economic and financial developments through a formal system known as surveillance. Under the surveillance framework, the IMF provides advice to its 188 member countries, encouraging policies that foster economic stability, reduce vulnerability to economic and financial crises, and raise living standards. It provides regular assessment of global prospects in its World Economic Outlook, financial markets in its Global Financial Stability Report, and public finance developments in its Fiscal Monitor, and publishes a series of regional economic outlooks. MORE AT SOURCE LINK
IRAQ'S IMF ASSESSMENT IN 2003 AT THE BEGINNING OF THE WAR:
Statement on the International Monetary Fund's
Staff Macroeconomic Assessment of Iraq
Delivered by Lorenzo Perez, IMF Mission Chief for Iraq
to the International Donors' Conference for the Reconstruction of Iraq
Madrid, October 23, 2003
1. In the context of the United Nations-World Bank Needs Assessment, IMF staff prepared a macroeconomic assessment on Iraq, a summary of which was used as an input to the Joint Needs Assessment Report issued on October 8, 2003. MORE HERE: SOURCE LINK
CAN THE IMF APPLY SANCTIONS TO IRAQ?
YES. They did it to Zimbabwe
IMF Executive Board Upholds Sanctions Against Zimbabwe MORE HERE
The bottom line is this, we can speculate all day long, we can give our best to interpret, comprehend and relay the news, but at the end of the day the truth is, this may take awhile. It is therefore important that you do not neglect any responsibilities to yourself, your family, or your debtors. Make this your PLAN B, your retirement, your insurance policy for your kids or grand kids. Don't allow this to rule your life and have control over your every thought.
Please confirm and validate and do not take "anyone's" word on anything. This is a speculative investment we all partook in. Please guard your emotions and safeguard yourself and your family from PIE-IN-THE-SKY procrastination on important things in life. Do not allow the $$$$$ signs to cloud your logic, integrity or judgement. The beat goes on and you need to show up.
I say this because I care about you and I have been every place imaginable with this; depressed, isolated, lonely, high, low, pessimistic, optimistic, jaded... all of it! I have finally resolved myself to LET GO and LET GOD take care of this. Money is not our Savior and not our GOD.. I am posting this in hopes this helps someone out there because I see so many in the same place I was a few years ago and I had to learn the hard way because I have A HARD HEAD!! LOL If I can save one person from that type of misery then I have blessed somebody which has always been my intent for doing what I do with the news.
Peace & Blessings,
* 1. Aljazeera News
PLEASE KEEP PINNED FOR A WEEK AT LEAST. THANK YOU ~~ RED LILY ~
Red Lily - Love ya sis. That was the best explanation I think I've heard. I do stay grounded with this. Just like everyone else that in invested in this, I want it to happen as soon as possible, but I also believe that God has his hand right smack in the middle of this and will set it in motion when HE is ready.
Love ya and keep the news coming.
mags/maggie as some call me. (smile)
Great explanation: I have been in this adventure for a short time. I have learned so much about how the monetary system works, the US govt', World politic and more. My answer to the question, will this EVER happen? YES. Although, we will never witness this again. I truly believe this is the beginning of seven years of prosperity and seven years of lean to follow. We must be wise and good stewards of what we have been given charge over. "To much is given, much is required". Little do the governments know or care to know, what is truly ahead. We are at END TIMES! MAN CAN'T STOP WHAT WAS SET IN PLACE BEFORE THE FOUNDATION OF THE WORLD WAS SET!