Saturday Noontime Guru Opinions - 3/007/2020

[ronscarpa]

 

 

3-7-2020   Newshound Guru Breitling   ...I've been getting emails and I'm not gonna name the guy out there that's putting this information out...here's the math.  He's talking about that there's too much currency out there for it to revalue so it's impossible...    if you do not think they are going to reduce the money supply you do not need to be in this investment.  Because that is the key.  That is what we've been watching.  So that is the dumbest statement I've ever heard people say is that there is too much currency out there.  Their plan was and they've specifically said they are going to reduce the money supply.  And that's where we find our value...(Post 1 of 2)...

3-7-2020   Newshound/Intel Guru RVAlready   This seems to be a case of the corrupt in Iraq, thinking they could put this RV off again, thinking the world would sit back and be patient again. I think the UN is probably dictating to Salih and parliament exactly what they will do to fix this.

3-7-2020   Newshound Guru Kaperoni   UN Chapter 7 has nothing to do with monetary policy. If it did, the IMF would not be encouraging the CBI to accept IMF Article VIII to send a message to investors that Iraq is open for business.

 

[ronscarpa]

3-7-2020   Newshound Guru Breitling    ...everyone thinks it's at a market rate and somehow they're gonna add or subtract wealth to it.  It doesn't work that way.  No currency works like that.  They're either taking currency out of the market or they add to devalue the currency...They've been reducing the note count and they're gonna reduce it even more.  The official procedures are coming out of the CBI is that when they introduce a new note that will absorb the new prices the notes that you and I have and the new notes will coexist with the added value for two years...they'll have a process where they're getting rid of the denominations that you and I have.  It will be a two year process.(post 2 of 2)...

[climber7]

Just a question.....

 

What are the chances that if/when they come out with new currency notes that they will just declare the old ones (the ones we hold) are no longer valid? Could they do that? Just void out the notes we have and declare the new ones the only ones valid? 

[ronscarpa]

3 hours ago, climber7 said:

Just a question.....

 

What are the chances that if/when they come out with new currency notes that they will just declare the old ones (the ones we hold) are no longer valid? Could they do that? Just void out the notes we have and declare the new ones the only ones valid? 

 

 

I don't believe so, I would think they would gave to give a reasonable time to exchange the currency. With that said, The CBI clearly stated numerous times that the existing notes (what we hold) would be used simultaneously with the Lower Denomination Notes when they were released. Also, I believe they printed 11 different denominations plus 2 coins - to reflect their use at a very low exchange rate (3000-1190 to one USD), and after they increased their rate under the delete the three zeros plan of monetary reform. Originally they used six denoms, then dropped the 50 IQD note and added the 50,000 IQD note for banking purposes - with the 5 lower denomination notes waiting in the wings. We'll just have to wait and see what they do. I hope this helps answer your question, along with some background. Ron

[ronscarpa]

A PS: to the above response, after they released the new IQD, the Iraqis had 30 days to exchange their Saddam (at 3000/$1) and Kurdish (128/$1) dinar notes.  Part of that plan was to take money out of the hands of al-Qaeda. 

[Laid Back]

I remember Breitling mentioned the note count was down from 4 billion notes to between 1.5  and 1 billion notes. 

 

 

 

 

[screwball]

10 hours ago, climber7 said:

Just a question.....

 

What are the chances that if/when they come out with new currency notes that they will just declare the old ones (the ones we hold) are no longer valid? Could they do that? Just void out the notes we have and declare the new ones the only ones valid? 

Anything is possible but does it make if plausible or feasible?