Redenomination Proposed After General Elections

[boomer113189]

1 - 24 - 2014

 

TEMPO.CO, Jakarta - Center for Strategic and International’s economist Haryo Aswicahyono, said currency redenomination should be done after general elections where the public psychological condition is relatively stable to prevent politicalization.

"The current situation is unstable. If the people are panic because of redenomination, banks may be affected," Haryo said yesterday. According to him, most people have not understood about redenomination and often mistaken it with sanering (slashing of currency's value).

Bank Indonesia (BI)'s governor Agus Martowardojo previously said redenomination needs economic and political stability. One of the influencing factors of national economy is the fluctuating global and domestic conditions and last year's current account deficit.

According to BI's deputy of payment system, Ronald Waas, although the economy is unstable, redenomination must be done. The House of Representatives (DPR) has established a special committee and the central bank has informed the public about redenomination.

The government has planned to implement redenomination policy by removing the last three digits in rupiah. Redenomination bill has been submitted to the DPR and is expected to become law this year.

Redenomination has been said to need seven years of preparation which includes printing, designing, distribution, socialization and education. "Our country is big. Preparation and committment from all sides are needed," Ronald said.

 

http://goo.gl/3BVGyA

[dontlop]

https://mises.org/journals/qjae/pdf/QJAE3_1_5.pdf

[dontlop]

I think they like the wheel barrow idea and are going to print up 1 dinar notes and keep the exchange rate the same

Everyone will have a house full of dinar

Then the exchange will be for three months only and only Iraq will be doing the exchange thru the mail

And you have to exchange in your dinar for new dinar to continue on in this investment

So we will all have wheel barrows full of new dinars

All ones

All one dinar notes

Their gonna print up and maintain 90 trillion dinar notes

It's gonna take fifty years till they get them all printed up then they will do the exchange

I got it all figured out now

Its gonna be a neutral event

You get one free goat with each exchange

Remember it could be worse like the guy on tv that squeezed the moisture of of a piece of elephant poop into his mouth just to demonstrate that its possible to do it incase you were dying of dehydration

He couldn't just say it

He did it on tv

Now that guy was after some ratings

[dantach]

Hey dontlop, like Alex said... 2090.

[bigwave]

But I don't like goat I like lamb...

[WorkerBee]

But I don't like goat I like lamb...

And I like chicken, you don't see me whining do you? I'll take my goat, and be happy, this dinar isn't getting me anywhere anytime soon. Some people..