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Ability to exchange


Jizmo
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Hi guys, I just saw this post on Dinardetectives, what are your thoughts?

 

 

sandyf

The real danger in a redenomination is the ability to exchange. Once the redenomination has taken place it would normal for the old currency to only be exchanged in country. In a redenomination a new currency would be created which would become the international code. The old currency retains its code and as such would not be recognised by international banks…dinarland’s worst nightmare. [Maybe dealers would still exchange it for big profits.] That is a distinct possibility, they did it with the 50 dinar notes.

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I also saw this earlier and this is the 1st I have heard of a Re Denomination......Correct me if I am wrong but a Re Denomination is a completely new Currency and that in itself will be costly as they just printed all new currency.

 

Some talk of a RV or Revaluation and other talk about a RI or  Reinstatement to the glory days of the past....While I just read and am in no way some sorta of even smart person I would tend to think the RI is the way they will go if and when this happens....much the way Kuwait did. Many think it will come out somewhere around 1/1 or possibly better like a 1.25 to 1 USD just so they can start getting the notes off the street. Then slowly float the value as the market sees fit up to what ever.

 

Just my 2 cents worth and nothing more.

 

Welcome to the Madness.

 

Karsten

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Venezuela is going to do a redenomination of their currency next June

 

Venezuela inflation is 4000% ................... reserves $9.9 billion dollars

iraq inflation is 4% .....................................currency $51.5 billion dollars

 

The main reason for redenomination is hyperinflation....... That's not the case in Iraq but is the case in Venezuela 

 

Go CBI

Go new monetary policy 

Go $1:1

 

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