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Dinarland Highlights – 4.28.21
sandyf
Quote from NORV [Guru Kaperoni]:
“Sandy needs to read the IMF documents where they specifically talk about Iraq floating the currency.”
The IMF will always talk about floating the currency, particularly with emerging economies that have financial issues. Flotation is the only way to establish a realistic rate of exchange, it was the IMF that coerced Egypt into a flotation that resulted in a 50% devaluation. I would agree with most of what you say but you are wrong to make out a float would lead to some benefit, it is not a given.
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Breitling
Question:
“What happens when you go to cash out and you have counterfeit currency?“
The question is who’s responsible for it? Are you responsible for it when you take it to the bank and they find out one of your currencies is a counterfeit? You are not going to have that problem. People aren’t counterfeiting the currency that’s at a tenth of a penny. It’s simply not happening. The problem in Iraq that people don’t realize there was a counterfeit problem that they had but what they were doing was they were counterfeiting the U.S. dollar and other currencies and then exchanging it for the Iraqi dinar
Nobody was counterfeiting the Iraqi currency. Who would do that? It’s like going down to Mexico and counterfeiting a peso. It doesn’t make any sense. You don’t need to worry about that. But if something was to happen. Just for the sake of curiosity. What they simply do is they take it. Would the company you bought it from be responsible for it? No. How would they be responsible for it? I asked this a long time ago…the lawyer was…like no you just get it taken away. You’re not going to get into trouble or anything like that…it will just be erased. It won’t go into your bank account.
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MarkZ
[via PDK]
I am hearing a lot of interesting things right now…Banking contacts are pointing squarely at Thursday (tomorrow).
[Why do your bank connections think tomorrow is the day?]
Because everything is in place for things to start tomorrow. Doesn’t means it has to…its just what they are prepping for.
[Do you still think April is our month.]
I do but there is a possibility it could be longer…maybe up to 5 more weeks? That is just my opinion.
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Frank26 (KTFA)
…They tell you that they are going to float it [dinar] outside of Iraq…that means it [the rate] is fixed inside of Iraq… outside [of Iraq] it’s going to float. It’s called the REER. The Real Effective Exchange Rate…that’s where we’re at…it’s possible it might float past the REER.
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Mountain Goat
We know the paper currency of the large 3 zero notes, now in circulation, are getting to the point of shortages even. They are shrinking the money in circulation for a reason. Remember deflation and an increase in a currency’s “rate” come from shrinking the money supply. Inflation and devaluation come from increasing the money supply thus decreasing the “rate”.
So why did the CBI devalue the dinar by increasing the value of the US dollar? This decreased the “rate” of the dinar. Oh…but the money supply does not dictate such a move. So why did the CBI still do it…
This did not make any practical economic sense since on the surface it seemed to go against the laws of economics. But, we have to remember the dinar is still on a de-facto peg to the US dollar and this is part of their dilemma. How to get off this damned peg. We know what they have to do. To reinstate the dinar is to stabilize it. Going to a future basket of currencies to re-peg the Iraq dinar will stabilize it and allow for a controlled free float. This is where the CBI needs to get to.
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Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru
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