doctor robbins

How would Iraq be alienating other countries by re-denominating? Turkey, Romania, Brazil, Russia .... etc. all re-denominated and their currencies were being held by people in other countries. The difference is those countries' currencies weren't a problem to exchange at the bank. Iraq's is because the banks quit dealing with them because of speculation.

It's good for Iraq. They can de-dollarize and pocket millions of dollars spent by speculators that can't exchange.

"The Iraqi Central Bank, unveiled on Friday, would produce coins in small groups, indicating that these currencies, which have been issued sometime next year, will be written in both Arabic and Kurdish, a proposal for large banknotes worth fifty thousand dinars." It's not a 50K note. It's a new note worth 50K of the present dinar which would be consistent with the re-denomination they've been talking about. The new 50 note would be worth 50,000 of the current dinar, the new 100 would be worth 100,000 ..... etc.

The video's title is misleading. She didn't say that white people have to die. She said that the older generation that were marinated in racism will have to die for that racism to go away, and she included her own community in the south in that.

Who would you rather listen to? Somebody who was wrong and admits it, and uses that experience to gain more knowledge or somebody who is wrong repeatedly and never shows any remorse?

The allure of the lottery is that it could happen to you because it has happened for other people. The fact is no curency has ever increased in value 100% or more by a decree of a central bank. Those who are hoping for it to happen this time are hoping for something that has never happened and will never happen.

They didn't say that the IQD would equal the dollar in four years. They said the Iraqi dinar would. They've been saying for years that they would re-denominate and bring the dinar's value to about the value of the dollar, but that doesn't mean an increase in the value of the IQD.

Someone has been right. Many people have but nobody wants to listen.

All good points, keepmwlknfny. The gurus want you to listen to them instead of looking at the facts like official financial statements, the history of re-denominations and revaluations, the nature of pegged currencies .... etc. A well Informed populace is the best defense against tyranny, and a well informed investor is the best defense against scammers.

Without reading that pdf from start to finish it looks like he's making the argument that an undervalued currency is better for economic growth than an overvalued currency, and I wouldn't argue with that. But he's not making the argument that you seem to be making that a currency valued at 1/10 of a penny is better for rebuilding than a currency at or near parity with the USD. A currency can be overvalued at 1/10 of a penny or undervalued at $1 (or 16 cents as China's is). The issue isn't whether it's high or low, but whether it's overvalued or undervalued.

Please elaborate. How does a low valued currency help them to rebuild?

Hyperinflation was ongoing at the time. Iraq was a war zone and the value was still declining. It took five years to get inflation under control. They could have lopped off the zeros then but at the time the immediate need was to produce a currency without Saddam's image to signal the end of his regime. Removing the zeros would need to wait until things stabilized. Also keep in mind that a 1:1 exchange is much easier to do from the standpoint of security. A 1000:1 exchange requires an educational period and increased security because of the potential from troublemakers.

The references to currency reform at the start of the year are talking about re-denominations, not revaluations. And the official language of Belize is English, not that I really believe anybody is going to be headed there after any RV.

The author of that article is making an argument based on semantics. He's redefining the whole concept of an asset backed currency. Historically money was backed by gold and was redeemable for those who chose to claim the money's worth in gold. It's hard to redeem a currency with gold that's still in the ground. All that happened in Australia is that the speculation in gold drove the value of the Aussie dollar up since they're a large exporter of gold. But he even admits that the AUD is fiat just like every other currency including those of Russia, S. Africa, and Canada.

The M2 amounts to over $71 billion USD, and their currency reserves are reported at about $75 billion USD, so all of the M2 is supported, and all of the M2 will be converted if they re-denominate whether it's paper or digital.

I meant to say the Saddam dinar was worth 3000:1.

The Saddam dinar was worth $3.22 but the IQD dinar has never been worth less than 1650 to the dollar, and you had to be in Iraq to buy at that rate.

It doesn't say that they bought them from the US. Reading the article you can see that USD went into the Iraqi economy, so it would make sense that they bought those USD from Iraqis. That would flood dinar into the economy and stabilize the rate.

No banks sold dinar as an investment, and nobody bought the IQD at 4000:1.

I didn't notice. Could you provide a link?

Breitbart had an enlarged heart, and Steve Bridges also imitated Bush and Clinton so why would he be on Obama's hit list?

Here's what the report says. Justifications for exchange-rate adjustment: there are a number of important and powerful arguments which support the view that the official exchange rate reduces the real value of foreign currency for purposes of calculating the economic national profitability for investment projects and hence for the purposes of investment planning. It is demonstrated in this context to call for assessing the dinar for less than (3.208) dollar (official exchange rate) when assessing project outputs and inputs of traded goods of exports, substitute imports and imports... etc. The justifications to call for the use of an exchange rate that is lower than the official exchange rate are: <>·The use of an exchange rate that is lower than the official rate is the appropriate action at the investment planning level to translate the country’s economic strategy aiming at stimulating central investments in the sectors that encourage the development of non-oil exports, as well as sectors that encourage the expansion of domestic production base in order to reduce imports and compensate it with local commodities. This helps to reduce reliance on foreign exchange earnings from crude oil exports and increases the share of non-oil sectors in the local production. Maybe lowering and decreasing the value don't mean the same thing to you, but I think they do to most people. This report was written when the official value was over $3 and was considered too high in light of economic developments. It's old and irrelevant.

It's a lot more than three or four years old. It's from the Saddam era and it has nothing to do with the IQD. Notice it calls for decreasing the rate from $3.20 to $1.13.