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Kent

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About Kent

  • Rank
    Maybe Pigs CAN Fly

Converted

  • Location
    Fort Worth Texas
  • Interests
    Spiritual, Family, Cycling
  • Occupation
    Owns an Insurance Agency

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  1. But let me get this straight. That was only a +2.1% RV ? I don't exactly see the similarity to what people hope for here.
  2. You know the drill. Pro RV people say all the press is "smoke and mirrors" (means outright lies) to dissuade dinar investors just before an RV. It's just a misinformation campaign. Interestingly, it doesn't seem to occur to them that pro-RV rumors could be a disinformation campaign to prop up the sale of that nearly worthless pretty red paper at the CBI auctions (which has been a brilliant tool to increase CBI reserves in dollars). I have a tendency to believe most of the pro-RV people and even most of the guru's aren't "pumpers" working for the dealers. They just believe what they hear a
  3. Reknow, just to clarify, I am not implying anything about Bush's character or ethics by mentioning him. The rumor was a few months ago and only related to a conference call in which he told some other businessmen to get ready because there was going to be a big change really soon. Actually, I live in DFW. His house is far more modest than you would expect and I've heard of more than a few stories about people running across Bush riding his bike on some off road bike trailsin a state park south of Dallas, friendly, gracious and unassuming.
  4. THAT is a good description. I've heard rumors from people I totally trust who totally trusted the source. One was even a telephone conference where there were a handfull of people in the room on a telephone conference with George W Bush. Others, and that story in particular were cases where it was impossible for me to believe they were lying. The bottom line is that the forecasts from those stories never panned out. I honestly can't reconcile why, but I still totally respect the source of the information.
  5. Sonny1, a little help please. I know you get loaded with requests for info. I find a reference to an RV when Estonia changed from the Kroon to the Euro for less than .0001% increase in 2004 (not exactly what dreams are made of). Likewise, I've not seen information on Kuwait where it was drastically changed by government fiat overnight. It seems all the examples people quote are really gradual market change or change by pegging to another country. Do you have any link for any example in any country where a drastic currency value change happened due to a declaration of value by that countr
  6. The following 2 point conclusion of the report seems to exactly describe Iraq to me: "Based on the analysis above, the re-denomination of national currency must be done only when the following circumstances are being met: The decrease trend of inflation is consolidated. A low inflation rate, joined by zero-dropping operation will improve credibility of the national currency; Other significant positive results are obtained, proving the success of economic reforms and restructuring (e.g. the real terms increase of the GDP). It has been proved in the majority of the countries that p
  7. Drox, That was a good thread and good to see you and Chas32 looking at a market driven approach to revalue.
  8. Drox, thanks for the personal note and "welcome back" PM message. This is the response you requested. First, Thanks for putting in the time and thought. I always appreciate people who offer thoughtful opinion and analysis, even when we disagree. The people who offer respectful insight and even insightful questions make the site worthwhile. You are a great example of that. Candidly, I have a tendency to take things closer to face value than your analysis. When an articles say "delete 3 zeros" and make comparison to countries who did a redenomination I think that is what they mean. We us
  9. tmc, + from me buddy. I find it hard to believe how thinking people can read all the news quotes, even from the CBI, over and over referencing to "deleting three zeros" and even making comparisons to other countries that have done a redenomination... yet still not even question whether they will see a 3,000x revaluation of their investment by government fiat. I used to try and respectfully post a lot about money supply, currency reserves, comparisons to other countries, etc. thinking that balance on the site would be a benefit to others. Many people believe what they want to believe. We a
  10. also, some of us USED to be dinarified before the system converted - and never went to the trouble to re-dinarify
  11. I find it interesting that the article is exactly the scenario (not large notes but the process to a redenomination) that A/C describes.
  12. Hey Ron, while I've got your attention, ever had your Phd Economist wife post something on the feasibility/impact of a large RV? I'd sure like to read anything like that you've done. Kent
  13. Ron, It's been a long time since I posted. Thanks for the story. I hope your banker's intel is gold. Blessings on ya. Kent
  14. Darin, The best study on redenom. I have seen is http://www.unc.edu/~lmosley/APSA%202005.pdf and it discusses the why and the outcome and it is based on looking at (I can't recall the exact number) like 70 redenominaitons. Regarding your question about a revaluation, there are certainly examples of market change and Kuwait is an example. My understanding is that the government didn't revalue the currency, the market did - down during the war when locally in Kuwait, stores were reluctant to accept it, and then up again afterward. People made money in that change. Germany apparently consol
  15. No criticism intended, but none of the Venezuela discussion is new. For a quicker read, look at the Venezuela brochure link in Bellypod's post a year ago. It was used to promote that redenomination. Often such opinions have not been popular in the past and people who hold them tire and leave or quit posting.
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