Iraq Government and Budget Process
Feb 09, 2011
The first reading of the Iraqi budget came on January 16. The second reading was postponed Feb. 7. (I had thought the second reading was already done, but this was incorrect.)
The government's ministerial positions are yet to be filled. Allawi was asked to propose candidates, but Maliki rejected them all again. The Kurds are now blaming both Allawi and Maliki for delaying tactics.
So it looks like nothing will happen this week.
If the dinar revaluation had occurred months ago, we would not have gotten much benefit from it. The longer the delay, the more time we have to buy dinars without trying to do it all at once. When spaced over time, they can be purchased a little at a time without hardship.
The same can be said about buying silver. As long as the price remains low, we can treat it as an opportunity to buy before the price spikes to the heavens. Today it went back up to $30.35/oz, so it is not nearly the bargain it was back in 2003 when one could buy an ounce for about $5.00. But I believe the day will come when it roars past $200.
Right now, my opinion is that the dinar will give the best return on one's investment, but once it is revalued, one should obtain some silver in one-ounce sizes.
Keep in mind that this is an opinion, not "investment advice."
Dr. Stephen Jones