Notice in this article "Billions over Baghdad" written by former UST Undersecretary John B. Taylor, that he said Iraqi oil coming to the U.S. to pay for the war will be less than $33 per barrel coming to the USA. A couple of sentences later he says "one barrel of oil will cost the US roughly 6 dinar held by the UST." Well there we have the UST's desired RV rate. The UST wants a little less than $5.50 USD per dinar on the RV! ($33 USD oil divided by 6 dinar = $5.50 USD per dinar).
Perhaps the recent rumors of vouchers coming in at a rate of $5.25 aren't too far fetched. And recent rumors over the last 1-2 months of delays in the RV because the UST wanted a higher rate than $3.00 are maybe not so far fetched either. With news of the rumored vouchers at $5.25, maybe the UST has been able to get the rate they always wanted to pay for the war. If the UST owns 3-5 trillion dinar, then that will convert to about $15.75-$27.5 trillion USD. The cost of the Iraq war is estimated at about $3 trillion USD. Looks like the UST will more than pay for the war with their dinar holdings as President Bush promised.
As of May 6, 2011, the total US public debt is about $14.32 trillion USD. Looks like the UST could pay off all the US debt, but do you really think they will do that with the money? Of course not. Those politicians love to spend, spend spend.
I hope the rest of us get this same rate. AWESOME!!!
But I wouldn't be surprised is the UST got some special deal just for the military and the UST.
Here's that portion of the article:
The article below, "Billions over Baghdad," written by John B. Taylor, under secretary of the Treasury from 2001 to 2005, and the author of “Global Financial Warriors,” is a concise explanation of the beginnings of the plan to devalue, print a new dinar currency, then revalue (RV) the Iraqi dinar. It was first conceived by Cheney & Greenspan, et al, and then put into action before the first shot was ever fired in the Iraqi War. It also gives credibility to GW Bush when he expressed many times as to how this war would pay for itself, namely OIL. Iraqi oil at less than $33/barrel coming to the USA.
The 3-5 trillion Iraqi dinar currently held by the US treasury will be returned to Iraq beginning 6 months from now in exchange for oil at the lower price. This, in part, is how Iraq will finance this revaluation. One barrel of oil will cost the US roughly 6 dinar currently held by the US Treasury.
http://www.nytimes.c...n/27taylor.html
http://www.washingto...0090302200.html
http://en.wikipedia....tes_public_debt
