Kaperoni says forget about $3 never happening...the goal is 1 to $1... but not for a LONG TIME

by **Ponee** Sat Apr 11, 2015 3:31 pm

Kaperoni

...earlier this week...an article...mentioned the CBI met with the Parliamentary Finance Committee. Quote:  "In turn, justified the Governor of the Central Bank, according to the statement in response to queries from members of the committee not to implement the project to delete the zeros because it Aigll of paper the size of likely benefit to export more to reduce the number of categories in advance..." it is huge news...it is a quote direct from Ali al-Allaq's mouth...Ali al-Allaq is the CBI gov...it does not get any better. here is the correct translation..."From his side the governor of the central bank explained to the members of the monetary committee why the central bank is not implementing the deletion of zeros right now because it does not lessen the quantity of banknotes preferring the larger banknotes to reduce the number!" ...it is just great news!   ...we know they want to reduce the physical note count from 4 billion to 1 billion and Allaq says he is not doing the deletion of zeros because that does not reduce the count. Only a lop reduces the value, but not the count...so he is saying clearly...we are not going to LOP...because that does not reduce the note count. that is rock solid proof that the dinar will not LOP because it is direct from Allaq's lips.

now part 2 of that sentence...they want to use large banknotes to reduce the number...that is also confusing...they are not going to use large banknotes and there is a new campaign starting talking about 50,000 dinar or 100,000 dinar...not happening! How do I know this? because introducing larger notes does not reduce the note count either...in fact it creates more! so what does Allaq mean? he means they will use notes with higher value to reduce the note count...in other words...lower denominations with a higher exchange rate...that is the only way to reduce the note count.   in fact I can also prove this...back in 2012 the CBI told the Currency book that they were going to release a 50,000 dinar note (but marked at a 50)... So the CBI is going to raise the value, introduce new lower denominations with "higher value" and that will allow them to reduce the paper notes from 4 billion to 1 billion.   ...I have direct information from an economist in Iraq supporting this.

The appreciation will be gradual...that is the only way they collect those notes and retire them [But still a float?] absolutely...that is what will happen...as the value raises, the notes are retired and new smaller notes with that additional purchasing power come out...in the end, Iraq has a 1, 5, 10, 20, 50, 100 equal to the dollar. [is 1166 the start rate or do you think it will go international at different rate?]   it will start there but it wont stay long. they could never afford a RV not even at a .10. it has to be gradual or the money supply in the trillions would bankrupt them. if iraq creates the right environment, laws, stability, etc. the dinar is undervalued and should rise fast! forget about $3 never happening...the goal is 1 to $1. I believe it will happen over a 1-2 years...we may see .10 by end of year...if were lucky and .50 by end of 2016.

by **Terbo56** Sun Apr 12, 2015 9:35 am

Hey, Pepperoni, go eat a taco-

Kaperoni says forget about $3 never happening...the goal is 1 to $1... but not for a LONG TIME

Kaperoni says forget about $3 never happening...the goal is 1 to $1... but not for a LONG TIME

Re: Kaperoni says forget about $3 never happening...the goal is 1 to $1... but not for a LONG TIME