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parliament convinced of deleting 3 zeros


Alex38
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Thats what I was thinking and with pulling in notes after every RV would help make the next larger one easier. Just going off of what was reported that there was 30 trill dinar out there, and if there was only 10 trill (the roughly 30% he said) held be speculators then the first RV would only cost them 85 bill without the spread, and thats very possible. And they would probably draw in atleast 30-40% of the notes.

Well, as feasible as this may sound.... It does cause concern for people potentially buying into the new rate.

What if people see the R/V at 10 times its value as a sign of whats to come in the long-term?

I understand how they could do a hybrid scenario by maybe removing one zero at a time, mostly with just the exchange rate and I would much rather see that then a 3 zero lop for sure! I just dont see how they could RV to around a buck, and then lop in the way the CBI has been describing, like a lot are suggesting is going to happen....

Well, in a way, it could be their way of doing a R/V and reaching a dollar. They could R/V to nearly a dime (R/V to 100 times its value) & remove the 3rd zero in terms of a lop.

Wallah!

$0.86 exchange rate

But to us it would be like it did a R/V to $0.086

Many ways to get to $0.86 if they wanted to, doesn't have to be a straigh up R/D or R/V to achieve that figure.

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Pricing is normally set by where demand & supply meet. This is generally referred to as an equillibrium point.

The problem in the IQD scenario is simply the retail (Value) of the IQD remains the same as the CBI continues to match demand by printing more IQD.

We have to ask ourselves, are they really printing more IQD even while they have fully stated their intentions to attempt to remove the 3 zeros through a Re-denominations, or are they simply just manipulating the numbers to hold(suppress) the value to show speculators that the value is not going anywhere? Who knows, right? R/V believers will agree, R/D believes will disagree.

If the IQD were to continously appreciate in value, people would not be spending it.. They would grab it, sit on it & hold it.. Whether they're domestic or foreign to the country. Stable rates build confidence and help people realize that the value is not going to drop & will also not go up, so spend away.

So, we can't really appreciate the value with adjustments along the way, because we all know the value would continue to rise. If anything, it may push for more speculation to purchase & hold.

Their M2 figures are supposedly (allegedly) 60 Trillion.

This puts them near $52 Billion in US value.

Could their society function on what is deemed, by its entire volume to be worth $52 billion?

Some of those funds would need to sit in banks, held by governments, businesses, and also foreign entities such as exchange stations in other regions. Of that $52 billion, not all of it would be hard pyshical cash.

My problem is simply that many people view a R/V of any reasonably substantial amount as if all people holding IQD will suddenly & quickly cash out (even the domestics)...

They forget that some people may buy-in.....

If what is cashed out upon at the new rate is equally purchased in against the new rate, basically becomes a wash.

I.e., If speculators account for $15 billion dollars worth of money to be paid out of the pocket of the CBI, which is equally met by $15 billion of foreign funds coming in from other entities such as businesses or heavy investors, does the CBI become crippled? No.. They can continue their day to day business because their finances are balanced out.

However, lets look at the a R/D. -

Upon a R/D, all speculators, if indeed the M2 figures are correct, would likely push many many people to cash out and move to something more feasible or stable. This would cause a run on the banks.

Hard currency would make its way back to the CBI where the CBI has to fund foreign currency in exchange. If no one is buying back in, the CBI is reducing their liabilities, but also their net foreign assets.

People may part ways w/ ISX, Warka, and so forth.

Banks would have to exchange their holdings simply because what they hold becomes obsolete and missing a deadline could be devistating.

People may have the option of buying in at a new rate with new lower denominations, but, at the mere chance of a doubling or tripling your money, other feasible options may exist.. Because even after a R/D, the high risk level that exists 'now', would likely exist after the R/D as well.

So what is the CBI more concerned about?

Reducing their liabilities (M2)?

Or maintaining their reserves at their current level.

I don't think a straight up R/D seems like the right solution & I don't know how they could afford to R/V at $1:1, but it appears they need to figure something out to help boost their economy... I'm sure the snail pace is because they think they may have one shot to fix it and want to do it right this time.

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Pricing is normally set by where demand & supply meet. This is generally referred to as an equillibrium point.

The problem in the IQD scenario is simply the retail (Value) of the IQD remains the same as the CBI continues to match demand by printing more IQD.

We have to ask ourselves, are they really printing more IQD even while they have fully stated their intentions to attempt to remove the 3 zeros through a Re-denominations, or are they simply just manipulating the numbers to hold(suppress) the value to show speculators that the value is not going anywhere? Who knows, right? R/V believers will agree, R/D believes will disagree.

If the IQD were to continously appreciate in value, people would not be spending it.. They would grab it, sit on it & hold it.. Whether they're domestic or foreign to the country. Stable rates build confidence and help people realize that the value is not going to drop & will also not go up, so spend away.

So, we can't really appreciate the value with adjustments along the way, because we all know the value would continue to rise. If anything, it may push for more speculation to purchase & hold.

Their M2 figures are supposedly (allegedly) 60 Trillion.

This puts them near $52 Billion in US value.

Could their society function on what is deemed, by its entire volume to be worth $52 billion?

Some of those funds would need to sit in banks, held by governments, businesses, and also foreign entities such as exchange stations in other regions. Of that $52 billion, not all of it would be hard pyshical cash.

My problem is simply that many people view a R/V of any reasonably substantial amount as if all people holding IQD will suddenly & quickly cash out (even the domestics)...

They forget that some people may buy-in.....

If what is cashed out upon at the new rate is equally purchased in against the new rate, basically becomes a wash.

I.e., If speculators account for $15 billion dollars worth of money to be paid out of the pocket of the CBI, which is equally met by $15 billion of foreign funds coming in from other entities such as businesses or heavy investors, does the CBI become crippled? No.. They can continue their day to day business because their finances are balanced out.

However, lets look at the a R/D. -

Upon a R/D, all speculators, if indeed the M2 figures are correct, would likely push many many people to cash out and move to something more feasible or stable. This would cause a run on the banks.

Hard currency would make its way back to the CBI where the CBI has to fund foreign currency in exchange. If no one is buying back in, the CBI is reducing their liabilities, but also their net foreign assets.

People may part ways w/ ISX, Warka, and so forth.

Banks would have to exchange their holdings simply because what they hold becomes obsolete and missing a deadline could be devistating.

People may have the option of buying in at a new rate with new lower denominations, but, at the mere chance of a doubling or tripling your money, other feasible options may exist.. Because even after a R/D, the high risk level that exists 'now', would likely exist after the R/D as well.

So what is the CBI more concerned about?

Reducing their liabilities (M2)?

Or maintaining their reserves at their current level.

I don't think a straight up R/D seems like the right solution & I don't know how they could afford to R/V at $1:1, but it appears they need to figure something out to help boost their economy... I'm sure the snail pace is because they think they may have one shot to fix it and want to do it right this time.

Totally agree. It makes sense.

If they RD, and it applies to all of M2 they will exhaust just about all of their precious foreign reserves, which they are so proud of. They actually only have about 8 trillion dinars worth of foreign currency deposits. The bulk of their foreign assets are investments. Wonder what those investments are? Are they T-Bills or similar of other countries? How accessable are those investments.

Meanwhile, they'll have a whole new currency that is backed by..................??????

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Delete three zeros = Lop, there have been numerous articles that prove it.

I hate what you say, but you are correct. The negatives to you are just people's frustration that what they desperately want is probably a farce. Many want to be spin doctors and say this stupid "deleting three zeros" means something else, but it appears to be both in print and in logic that they have an overly- inflated and overly-printed currency that needs to be brought out of monopoly money and into the real world, if they want a currency other than the US dollar to ever have any validity in their country.

Can ANYONE show me one clipping ever from Iraq stating that they were going to give a 100:1 or 1000:1 RV on their currency? I have researched again and again after I bought into this hype of the RV. Much made sense. But beyond a Kuwait RI (a totally different government setup and circumstances) there is nothing past or present in Iraq, or anywhere else in the world, that suggests that a RV of huge magnitude could or would ever occur. Just a bunch of theories by people who may be doing nothing but profiting on what we "investors" are gullible, or desperate, enough to swallow.

Give me negs, call me what you will. If you can provide ONE fact from anyone - CBI, IMF, Adam Montana, etc. - that says this is a valid consideration; I will welcome all the criticism in the world. I very much want a RV - I can't see the logic.

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I hate what you say, but you are correct. The negatives to you are just people's frustration that what they desperately want is probably a farce. Many want to be spin doctors and say this stupid "deleting three zeros" means something else, but it appears to be both in print and in logic that they have an overly- inflated and overly-printed currency that needs to be brought out of monopoly money and into the real world, if they want a currency other than the US dollar to ever have any validity in their country.

Can ANYONE show me one clipping ever from Iraq stating that they were going to give a 100:1 or 1000:1 RV on their currency? I have researched again and again after I bought into this hype of the RV. Much made sense. But beyond a Kuwait RI (a totally different government setup and circumstances) there is nothing past or present in Iraq, or anywhere else in the world, that suggests that a RV of huge magnitude could or would ever occur. Just a bunch of theories by people who may be doing nothing but profiting on what we "investors" are gullible, or desperate, enough to swallow.

Give me negs, call me what you will. If you can provide ONE fact from anyone - CBI, IMF, Adam Montana, etc. - that says this is a valid consideration; I will welcome all the criticism in the world. I very much want a RV - I can't see the logic.

You just contradicted yourself :huh::blink::unsure: you want someone to "provide One Fact from anyone" :o ..but yet in all your babbling....you yourself refer to your understanding as "it appears" :P

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Totally agree. It makes sense.

If they RD, and it applies to all of M2 they will exhaust just about all of their precious foreign reserves, which they are so proud of. They actually only have about 8 trillion dinars worth of foreign currency deposits. The bulk of their foreign assets are investments. Wonder what those investments are? Are they T-Bills or similar of other countries? How accessable are those investments.

Meanwhile, they'll have a whole new currency that is backed by..................??????

Perhaps I'm confused, but if they RD, how is it they will end up broke? Yes, it will cost them some money, but nowhere near all their reserves. Assuming they allow IQD from abroad to be exchanged, it will only cost them whatever makes it's way back,....it's not as if they have to lay out USD for every dinar in existance.

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Perhaps I'm confused, but if they RD, how is it they will end up broke? Yes, it will cost them some money, but nowhere near all their reserves. Assuming they allow IQD from abroad to be exchanged, it will only cost them whatever makes it's way back,....it's not as if they have to lay out USD for every dinar in existance.

I guess maybe I'm confused too. I was thinking along the following lines:

M2 = 65 trillion dinar at the moment (figures for September anyway)

65 trillion / 1170 = 55 billion.

Leaves them about 10 billion in reserves on latest figures.

I was, of course, assuming total money supply, and an RD and then 1:1 value. But even if we take physical currency (26 trillion) that still leaves them on the hook for 22 billion.

Did you have a figure that you were thinking of in case of an RD. Just curious.

Of course, the don't have to make their future rate 1:1. Nor do they have to honor all of the physical currency, but I would think that if they put a window on exchange, most people that have the currency will want to exchange for whatever they can get.

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I guess maybe I'm confused too. I was thinking along the following lines:

M2 = 65 trillion dinar at the moment (figures for September anyway)

65 trillion / 1170 = 55 billion.

Leaves them about 10 billion in reserves on latest figures.

I was, of course, assuming total money supply, and an RD and then 1:1 value. But even if we take physical currency (26 trillion) that still leaves them on the hook for 22 billion.

Did you have a figure that you were thinking of in case of an RD. Just curious.

Of course, the don't have to make their future rate 1:1. Nor do they have to honor all of the physical currency, but I would think that if they put a window on exchange, most people that have the currency will want to exchange for whatever they can get.

Sorry. Brain freeze on my part. I see what you're saying. They don't have to hand over physical $US for every dinar that's out there.

But if they are changing the exchange rate, they will still have to back the currency with something, which at the moment they do with foreign reserves.

I guess it will depend on how much physical currency is out there (26 trillion?????, 4 trillion??????) that they have to trade in for either new currency or foreign currency, and then how much of the new currency they print.

If they no longer have to 100% back their currency with foreign reserves, how much do you think they could actually print? Most other countries in the world have their currencies backed by faith in the strength of the economy. How much faith do you think the rest of the world will have that will allow Iraq to print enough currency to keep the economy going?

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Perhaps I'm confused, but if they RD, how is it they will end up broke? Yes, it will cost them some money, but nowhere near all their reserves. Assuming they allow IQD from abroad to be exchanged, it will only cost them whatever makes it's way back,....it's not as if they have to lay out USD for every dinar in existance.

Good point....how much of speculators cashing in will actually make it back?? There could still be some way of the UST holding on to it all, I mean how much has actually been traded through the UST as it is anyway?? Banks have to get their dinar from somewhere, and if the UST traded it for USD, then they traded dinar through the banks for USD so in the end the UST could just get back what they traded for in the first place....we dont know if in these situations, other countries would still hold these larger bills for future transactions between that country.....Just throwing ideas out there.....but I do think that by RD, the CBI definately wins and hardly has to pay out for anything....ESPECIALLY if they only allow in country exchange...

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If they no longer have to 100% back their currency with foreign reserves, how much do you think they could actually print? Most other countries in the world have their currencies backed by faith in the strength of the economy. How much faith do you think the rest of the world will have that will allow Iraq to print enough currency to keep the economy going?

As far as I know, its just the major reserve currencies (maybe a few others) that are mostly backed by the faith in that currency......

Being as how Iraq is pegged to another currency (USD) I dont even know if thats possible for Iraq to do unless they changed their monetary policy and went to a market driven (floating currency). I could be wrong but thats what it looks like to me.....only problem with going to a market driven value and being based 95% on oil revenues, that could prove to be a bit unstable.....could be too unstable for the likes of Shabibi....Im sure he is proud of the strength of the dinar and how stable they have been able to manage it making it one of the strongest in the region...

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Sorry. Brain freeze on my part. I see what you're saying. They don't have to hand over physical $US for every dinar that's out there.

But if they are changing the exchange rate, they will still have to back the currency with something, which at the moment they do with foreign reserves.

I guess it will depend on how much physical currency is out there (26 trillion?????, 4 trillion??????) that they have to trade in for either new currency or foreign currency, and then how much of the new currency they print.

If they no longer have to 100% back their currency with foreign reserves, how much do you think they could actually print? Most other countries in the world have their currencies backed by faith in the strength of the economy. How much faith do you think the rest of the world will have that will allow Iraq to print enough currency to keep the economy going?

Not positive one can say that 'most other countries in the world have their currencies backed on faith' though. Outside the USD, Euro and British pound - what countries really have their currencies based upon faith and not their ability to back it? There are far more countries that are not part of those currencies than are, so can one really say 'most'? I can understand if those countries are using 'faithed backed' currencies to support their own through reserves and such, but it doesn't seem to really be the same as their currency being backed by faith in its value. JMO.

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I guess maybe I'm confused too. I was thinking along the following lines:

M2 = 65 trillion dinar at the moment (figures for September anyway)

65 trillion / 1170 = 55 billion.

Leaves them about 10 billion in reserves on latest figures.

I was, of course, assuming total money supply, and an RD and then 1:1 value. But even if we take physical currency (26 trillion) that still leaves them on the hook for 22 billion.

Did you have a figure that you were thinking of in case of an RD. Just curious.

Of course, the don't have to make their future rate 1:1. Nor do they have to honor all of the physical currency, but I would think that if they put a window on exchange, most people that have the currency will want to exchange for whatever they can get.

CBI reserves are $60B+

This covers every dinar in circulation...in, or out of country.

If the M2 divided by 1170 is less than 60B, then the CBI has excess reserves.....which is exactly why Shabibi has been able to maintain 1170 for years, and simply increase circulation to compensate for inflation.

Shabibi is a globally recognized economist, and certainly no dummy. So the fact that he has let the M2 expand to it's current size leads me to believe his intent (unfortunately) is, in fact, to RD.

As to the rate, IMO, I don't see it going past 1000-1 prior to RD, and more than likely, it will stay where it is, leaving the new dinar at $.86

Again, all the CBI needs worry about is what is outside Iraqi borders. If that number is larger than 5T I would be surprised.

5T in dinar equates to roughly 4.3B USD.....that's what the CBI would need to lay out if ALL the dinar outside Iraq were to be returned.

Not that big a deal, especially since the CBI can burn those dinars.

Bottom line, Iraq maintains the same purchasing power as a whole, as they have now.....revenue neutral.

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CBI reserves are $60B+

This covers every dinar in circulation...in, or out of country.

If the M2 divided by 1170 is less than 60B, then the CBI has excess reserves.....which is exactly why Shabibi has been able to maintain 1170 for years, and simply increase circulation to compensate for inflation.

Shabibi is a globally recognized economist, and certainly no dummy. So the fact that he has let the M2 expand to it's current size leads me to believe his intent (unfortunately) is, in fact, to RD.

As to the rate, IMO, I don't see it going past 1000-1 prior to RD, and more than likely, it will stay where it is, leaving the new dinar at $.86

Again, all the CBI needs worry about is what is outside Iraqi borders. If that number is larger than 5T I would be surprised.

5T in dinar equates to roughly 4.3B USD.....that's what the CBI would need to lay out if ALL the dinar outside Iraq were to be returned.

Not that big a deal, especially since the CBI can burn those dinars.

Bottom line, Iraq maintains the same purchasing power as a whole, as they have now.....revenue neutral.

Don't you have some Christmas Shopping to do? Imo you have some stats, but you do not have a clue as to what Shabbi has in mind. Unless you have something to confess.

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CBI reserves are $60B+

This covers every dinar in circulation...in, or out of country.

If the M2 divided by 1170 is less than 60B, then the CBI has excess reserves.....which is exactly why Shabibi has been able to maintain 1170 for years, and simply increase circulation to compensate for inflation.

Shabibi is a globally recognized economist, and certainly no dummy. So the fact that he has let the M2 expand to it's current size leads me to believe his intent (unfortunately) is, in fact, to RD.

As to the rate, IMO, I don't see it going past 1000-1 prior to RD, and more than likely, it will stay where it is, leaving the new dinar at $.86

Again, all the CBI needs worry about is what is outside Iraqi borders. If that number is larger than 5T I would be surprised.

5T in dinar equates to roughly 4.3B USD.....that's what the CBI would need to lay out if ALL the dinar outside Iraq were to be returned.

Not that big a deal, especially since the CBI can burn those dinars.

Bottom line, Iraq maintains the same purchasing power as a whole, as they have now.....revenue neutral.

What about countries that already FORGIVE Iraq debt in return with "Revalue at certain exchange rate a.k.a. RV at 3USD to 1 IQD" 25k IQD in their central banks, IF FINALLY SHABIBI DARE TO LOP THE IQD??????IRAQ DIRECTLY GOING STRAIGHT TO STONE AGE !!

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What about countries that already FORGIVE Iraq debt in return with "Revalue at certain exchange rate a.k.a. RV at 3USD to 1 IQD" 25k IQD in their central banks, IF FINALLY SHABIBI DARE TO LOP THE IQD??????IRAQ DIRECTLY GOING STRAIGHT TO STONE AGE !!

Do you have any evidence that ANY country has such a deal? If not, why put your post in such big letters and challenge others to dispute it...

Sorry, but it sounds like you need to review history of currency revaluations and economics in general more, and rely on the statements and claims of the gurus a little less...

If you research the reasons why many of the countries forgave the debts of Iraq (Paris Club members), you will find that it was more about getting in on reconstruction deals or abilities to participate in oil field auctions (ie. France, Germany, Russia, China).

We all want Iraq to do it one way, rather than the other for obvious reasons. But to make a statement like you did, simply shows you have not done one bit of research on the topic you are referring to.

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What about countries that already FORGIVE Iraq debt in return with "Revalue at certain exchange rate a.k.a. RV at 3USD to 1 IQD" 25k IQD in their central banks, IF FINALLY SHABIBI DARE TO LOP THE IQD??????IRAQ DIRECTLY GOING STRAIGHT TO STONE AGE !!

laugh.gif Ohhh is that what all those countries told Iraq before forgiving their debt??

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Bahahaha. That's what they told iraq, even in quotes, so you can take that to the bank!

Oh I am for sure!! Im gonna demand my banker give me a 3 dollar rate for every dinar I have and I will print out his statement to show them!!! laugh.gif Im sure they will have no problem exchanging me then!

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You just contradicted yourself :huh::blink::unsure: you want someone to "provide One Fact from anyone" :o ..but yet in all your babbling....you yourself refer to your understanding as "it appears" :P

I have no idea what message you are trying to convey. Sorry you consider my search for a legitimate explanation that the Iraqi regime seeks or even considers this purported RV of 0.10/USD or higher inane babbling. I did not contradict myself as to do so I would had to make a statement to be refuted. As I was seeking data in my post, I clearly did not have the ability to make a statement - an understanding is not a statement of fact.

As I treat this investment into the Iraqi dinar as a business investment, since it required a significant outlay of capital, I anticipated some reply of significance and enlightenment. I really did not need or appreciate the condescending double talk response replete with idiotic emoticons.

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Not positive one can say that 'most other countries in the world have their currencies backed on faith' though. Outside the USD, Euro and British pound - what countries really have their currencies based upon faith and not their ability to back it? There are far more countries that are not part of those currencies than are, so can one really say 'most'? I can understand if those countries are using 'faithed backed' currencies to support their own through reserves and such, but it doesn't seem to really be the same as their currency being backed by faith in its value. JMO.

Hhhmmm.. interesting. I thought that most countries in the world were fiat currencies. I may be completely wrong, but I didn't think that there were many countries that 100% guaranteed their money supply. Which is how we get ourselves into sovereign debt crises and such.

I would think that most country' currency value rises and falls based on the economic prospects of that country.

Australia for example, has a high exchange rate vs the $US at the moment due to high commodity prices (iron ore). Australia has a lot of iron ore, China needs a lot of iron ore for their manufacturing sector, therefore, propsects of high growth (comparitively) in Australian GDP, leading to high value of Australian dollar. Australian M3 stands at around 1.4 trillion dollars.

So the faith that I am talking about is the ability of the country to service its money supply and more importantly its debt.

Australia and Iraq are actually pretty handy to compare each other to. The have similar populations and most of their income is from commodities, as opposed to services and or manufacturing. Nothing similar about the countries themselves of course, and Australia has a GDP of nearly 1 trillion dollars, compared to Iraq's 83 billion.

And so, back to the point, how much faith will the world have in Iraq's economic prospects? If they are released from all of their obligations/sanctions, admitted to the WTO etc, are they then free to no longer 100% back their currency? If so, how much do they need as backing, and what value can they put on their new currency?

I agree with you and MrFnHappy, and Keep (just trying to reply to everyone in the one post), that an RD is a cheaper way out for the CBI than an RV. But I think that there are many factors influencing how they can follow up an RD as well.

Say they are left with 50 billion in foreign reserves after an RD. What then, can they feasibly set the rate at for the new currency? If there GDP is only 85 billion, maybe that's all that they need.

Again, just thinking out loud. Really appreciate the responses and answers.

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I still believe they are going to do this by lowering the money supply (increasing the value) and removing the large notes from circulation, and introducing small notes. I don't believe this spells a bunny ear in spite of the announcement.

I believe the same thing....they will delete by removing the higher notes from circulation. They said that in other articles.....GO RV.

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I agree with you and MrFnHappy, and Keep (just trying to reply to everyone in the one post), that an RD is a cheaper way out for the CBI than an RV. But I think that there are many factors influencing how they can follow up an RD as well.

Say they are left with 50 billion in foreign reserves after an RD. What then, can they feasibly set the rate at for the new currency? If there GDP is only 85 billion, maybe that's all that they need.

Again, just thinking out loud. Really appreciate the responses and answers.

If they stay a pegged currency, and they hold 50 billion in reserves, and they RD and the money supply goes from 60 trillion to 60 billion, they could almost back a 1 to 1 rate with the USD.....

Right now with what they have if they RD, and the 60 trillion goes to 60 billion, and they are able to maintain the majority of the 60+billion currently in reserves then its an easy for sure 1 to 1 rate with the USD....

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If they stay a pegged currency, and they hold 50 billion in reserves, and they RD and the money supply goes from 60 trillion to 60 billion, they could almost back a 1 to 1 rate with the USD.....

Right now with what they have if they RD, and the 60 trillion goes to 60 billion, and they are able to maintain the majority of the 60+billion currently in reserves then its an easy for sure 1 to 1 rate with the USD....

The three of you can use old data all day long and you have...... but come on, think out of the box boys.

Do you really think they don't have other assets they could use outside the CBI's data you guys keep referring too?

Do you think there are not some more DFI Funds not yet accounted for in the CBI that could be used for additional reserves?

Other money that is being held under the Executive Order 13303 that is not accounted for in the CBI yet?

Just look at what the media has uncovered about the wealth that Qaddafi that is all over the world 160 billion,.... better yet had...he's dead just like Saddam.

Could they have gold that at any time they could throw in to the equation?

Reduction in money supply to very little in country........wait I feel you going to the data again....just wait I'm not finished....

They have USD in circulation right.......again don't answer that yet Keep I'm not done, LOL.......don't you think that the USD is accounted for in this data that you guys hold so close, take that # and multiply it by 1170 and see what you come up with....wait..... you don't know that number and its not data that you can see.......go figure.

For example if they have even 10 billion USD in circulation in country that would be around 10 trillion dinar in their data, see my point?

Anyway if you could have that # don't you think that may be a reason the the amounts are so high in the data you see and refer too.

Do you think the CBI only wants you to know what they want people like you to know and when I say people like you its a compliment...educated, knowledgeable, smart thinkers but you guys refuse to think out of the box and use the data that's coming out of the news. Don't tell me you haven't read these articles because you have or ask me to provide them because I'm not going to. Not because I can't, because this is and will be the only time I spend on this subject and don't try to get me to, I'm sure I have years on you guys and I've dealt with all kinds in my business dealings.

We have all read to many times where you guys are coming from and I do respect it and you know you could be right but I for one get a little tired of the same old data you quote but that's just me.

Just another guys take on this.

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