How to Fix the Economy - the Dinar

I watch the growing hysteria around the need to raise the debt ceiling, the upcoming budget battles, and the need to raise more revenue for the United States. The easy solution: The revaluation of the Iraqi Dinar.

Since the last invasion of Iraq the United States has ensured that the value of their currency, the Dinar, has been low, like 1000 dinars to one US Dollar. Historically the dinar has always been like three or four dollars to the dinar, and this is the hope that many investors in the United States have; that once again the dinar will reach this status.

Many US citizens have purchased dinars waiting for this revaluation to occur. In fact, there are several in the United States government who have purchased dinars, and the Federal Reserve supposedly has trillions of dinars as well. The leaders of Iraq have promised the people of Iraq that the dinar will reach the levels it once held and this has further emboldened Americans to know that their investment will pay vast dividends.

Supposedly, one of the hold-ups on this process has been the President's desire to reap billions in tax revenue from the American Citizens who own dinars. President Obama signed into the law the right for American Citizens to buy dinars, and currently the discussion is that Americans will pay 15% of their return to the government in taxes. Supposedly Obama wants more.

Currently Americans own roughly 3 trillion dinars. If the dinar revalues to a rate of 3 dollars per dinar, this will lead to about 9 trillion dollars in new revenue that Americans have, 15% of which would go directly to the US government. This does not include the billions that these men and women would spend on goods and services that would lead to a boost to the economy and more jobs for our citizens.

It is time for us to start pushing on our leaders to not stand in the way of this revaluation if this is what is happening. If not, let us talk to them about pushing Iraq to get their house in order so that this can be done. This would be a huge boost to our country to see this happen.

As a side note, it is clear that Iraq cannot pay the US Treasury 25 trillion dollars right away. I know that a deal has been brokered already that will allow the United States to trade these dinars back to Iraq in exchange for oil over a thirty year period of time. This will allow the US to buy oil at $32 a barrel, greatly decreasing what we will pay at the pump for gas. This is a win-win situation on so many levels and it is time for us to start pushing our leaders to make sure this gets done quickly. If it does it will immensely decrease our debt, remove the concern related to the debt ceiling, increase the revenue in taxes, and put lots of Americans to work. Let's get this done.