Question for Adams Chat 2-27-2013

[chess]

Good for you easy. I bet you overpaid for them too. Lol. No need to discuss anything else with you about this. No offense but you're pretty clueless to a lot of things. You're a gullible person but you're young so as you grow older hopefully you'll be wiser. Take care and live well.

 

......supposed to read: "Live long and prosper"..............Star Trek

[phlip]

Three Questions for Adam:

1) If the dinar RV’d to a US$0.10 per IQD1.00 rate overnight and it happened before the new lower denomination banknotes were in circulation how could Iraq possibly maintain the IQD as its official currency since all the Iraqi citizens would surely rush to the nearest bank to exchange all their dinars for USD in order to take advantage of a once in a lifetime, lottery like 11,582.24% profit margin?

 

2) After such an overnight 10 cent RV the current lowest denomination dinar of IQD250 would be worth US$25, so what would be an Iraqi Citizen’s incentive for re-exchanging his newly acquired USD back to the current high denomination IQD banknotes; especially since there would be no way to make change when purchasing everyday smaller items except with USD?

 

3) Wouldn't such an overnight 10 cent RV effectively cause the IQD to vanish from circulation and the USD to dominate inside Iraq ~ contrary to the CBI/GOI publicly stated intentions for the currency?

[Flamtap]

First off,  thank you Adam for all the hard work that do. My question is simply, how can Iraq take the three zeros off the value of the current 250 and 500 dinar bills they currently have. If they did so would that not totally render those billls totally worthless?

[userghost]

What is left on your personal checklist for Iraq to complete before it can RV? Erbil, Budget, HCL, Article 140, what else is left?