I really want to be wrong so I'm hoping I'm confused -which is usually the case- and that I am reading this wrong and someone will be able to straighten me out.
I just can't make this work out logically in my mind. If they issue a new 50 note and value it as a 50k note that has a 43. USD value, and it's just a 50k note marked as a 50 note, then this means that here in the US if you exchanged a new 50 note you would get $43 but if you kept
your old 50k note you would get $43k USD. That's not equal value. Why would any one in Iraq go for that? If it is true that our 50k notes are going to exchange at .86 for 43,000. USD, then wouldn't every Iraqi citizen holding a 50k note also get $43k USD value as well? Wouldn't
this make the new 50 note and any Iraqi that exchanged their old 50k notes for one of them completely illogical and a very sh#^*% deal?
Isn't the point to of issuing a 50 note with the same value as a 50k note (43 USD) so that the Iraqi citizens can make an even exchange and the Iraqi government can remove the old 50k notes from circulation? So, in other words, just because we would skip the step of
exchanging our 50k notes for the new 50 notes, why would we be entitled to get an exchange value of 1000- 50 notes at are individually worth 43 USD. 1-50 note = 43.00 the same as 1- 50k note.
I really really really want this article to be telling me that my 50k notes will be worth 43k USD, so if someone could please clear this up for me I would be very grateful because if I keep going over this and over this it won't matter because my head will have exploded.