Wednesday Night Guru Opinions @ 8:08 PM CST - 2/26/2020

[ronscarpa]

 

2-26-2020   Newshound Guru Kaperoni   ...One...They [CBI] are a professional organization utilizing professional techniques to manage and control the financial system in Iraq.  Two, there is to much currency in circulation. Three, Iraq's total mineral net worth is 15 - 16 trillion dollars. At the current dinar in circulation, a 1 to $1 RV would completely bankrupt the country literally 3 times the entire worth of minerals including oil. Four, such an event would completely throw the entire financial system into chaos in Iraq. Five, monetary policy is a group of tools that support the demands of the financial system.  An RV or RI completely circumvents that process. For example the CBI generates revenue from the buy/sell of currency. It also reserves the right to raise or lower the value to counter inflation or deflation from time to time if needed. An RV would not only create chaos, but would prevent the usage of those tools. And lastly Six, a currencies value is determined by market forces. Not some random or arbitrary value. That is 6 solid reason the dinar could never and will never will RV/RI. Our only hope is a gradual appreciation directly related to the success of the private sector/market economy.

2-26-2020    Intel Guru Angle1  ...when we get to teller training [In Iraq] - teller training equals citizen education.

2-26-2020   Newshound/Intel Guru Mnt Goat   So the drama of the ratification of Allawi to take the seat of the prime minister continues. We expect this to happen this week, probably Thursday. Then things should move quickly in Iraq.
 

[wildeman]

Is Kap full of Crap or what? One minute it's happening , the next he's a Debbie downer. jmo.  I'm goin to bed.

Thanks Ron. One day.

Go Hope

Go RV

🙏

[pricestar8]

So Come out at ten cents and the bank make money on the spread as the value increases.

[GregHi]

2 hours ago, pricestar8 said:

So Come out at ten cents and the bank make money on the spread as the value increases.

As far as the point of all the money in circulation, this seems very logical but how confusing will this be for the citizens when the value of their currency is not fixed, it just keeps rising.. I don’t know how a large country’s public could operate when the price of goods and services keeps changing daily.. unless the changes are once a year or something far apart increments.

[HeyJonesy]

2 hours ago, GregHi said:

how confusing will this be for the citizens when the value of their currency is not fixed, it just keeps rising..

 

I was thinking the same thing Greg. 

If someone goes to a restaurant to buy a camel burger, how will they know how much to actually pay?  There certainly isn't the technology in place to keep all point of sale terminals up to date on an ever changing market rate.

Maybe a fixed "in country" rate?