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Wmawhite says that the rate has to be much greater than 1.00
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Wmawhite says that the rate has to be much greater than 1.00
wmawhite
[So they want to Increase their money supply or no?] It is a fine line...they need the notes in order to buy/sell...However, the fewer notes country wide the more value there is. Folks, all this talk in Iraq about the currency/notes is really not about what we want. It is needed in a sense because they will need the correct mix of notes in order to participate within the economy. However, when they speak about value with smaller notes, then that is dependent upon the value of the IQD outside of Iraq ...keep in mind when you hear "increased purchasing" power that only happens for the Iraqi when the costs of goods decrease, i.e. the prices on the shelves go down. This will happen when the currency that is buying those goods increases in value. the reason this is such a requirement is because 90+% of all goods in Iraq are purchased outside and imported.
Folks, for the last 9 months the dollars that you own have actually increased in value over 25%. However, the notes I have still had the same numbers on them. My checking account did not increase either. In other words, the USD became stronger but we didn't notice it inside of the USA. However, had you flown to any other country and exchanged the USD for that country's currency you would have received much more that a year ago. So, when the value of the IQD increases it will be noticeable over many months in the jobs and stores inside Iraq. The big change will not be of benefit to the Iraqi unless he travels outside of Iraq and exchanges the IQD.
[Are you expecting this to start out at 86 cents?] JIMO...the like value of $43.00 is just an example it will take much more than $0.86 to get those prices down to make it seems as $43.00. In other words, much greater than $1.00.
Last edited by Ponee on Wed May 27, 2015 1:29 pm; edited 1 time in total
Ponee- Admin
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Re: Wmawhite says that the rate has to be much greater than 1.00
Ummm ... and how does your, at best, tortured logic prove that? In other words...
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Kevind53- Super Moderator
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Re: Wmawhite says that the rate has to be much greater than 1.00
The "big change" won't be of benefit to Iraqis? So a weeks worth of groceries is still going to cost 50,000 dinar (43 thousand dollars at 86 cent rate)? Who does that make sense to?
It all makes no sense no matter which side of the spectrum you're on. Some say that in Iraq "a dinar is still a dinar" and they won't get a big benefit out of it. So foreigners will become wealthy beyond their wildest dreams but Iraq will still be a dirt poor craphole? So the RV is just to make foreigners rich and screw Iraqis? Do you have any idea what would happen in Iraq when they found that out? The entire country would explode.
On the other end Iraqis will get rich right along with the foreigners. Someone that had 50,000 dinar in their pocket to buy their weekly groceries all of a sudden has the equivalent of 43,000 USD. Which is about 10 years worth of an average salary in Iraq given their GDP per capita. And someone that just spent their last 50,000 dinar on groceries has nothing. Again, what happens? Country explodes.
Imagine the Iraqi with a government job cleaning toilets or whatever that makes 12,000,000 dinar a year (10,000 USD). He scrimps and saves and spends 4 million dinar ($3,400) on a 10 year old Toyota Corolla. The next day it RVs to 10 cents. He's still got his crappy old car, the guy he bought it from now has enough money to buy a house, a boat, and a Ferrari. You think the guy on the losing end of that deal is just going to say "oh well, you win some you lose some" or, given what we know about the typical middle eastern mindset, is he going to strap a bunch of pipe bombs to himself and pay the other gentleman a visit?
Makes no sense no matter which way you look at it. This kind of logical contortion, and a dozen others, are all required to believe in "The RV".
It all makes no sense no matter which side of the spectrum you're on. Some say that in Iraq "a dinar is still a dinar" and they won't get a big benefit out of it. So foreigners will become wealthy beyond their wildest dreams but Iraq will still be a dirt poor craphole? So the RV is just to make foreigners rich and screw Iraqis? Do you have any idea what would happen in Iraq when they found that out? The entire country would explode.
On the other end Iraqis will get rich right along with the foreigners. Someone that had 50,000 dinar in their pocket to buy their weekly groceries all of a sudden has the equivalent of 43,000 USD. Which is about 10 years worth of an average salary in Iraq given their GDP per capita. And someone that just spent their last 50,000 dinar on groceries has nothing. Again, what happens? Country explodes.
Imagine the Iraqi with a government job cleaning toilets or whatever that makes 12,000,000 dinar a year (10,000 USD). He scrimps and saves and spends 4 million dinar ($3,400) on a 10 year old Toyota Corolla. The next day it RVs to 10 cents. He's still got his crappy old car, the guy he bought it from now has enough money to buy a house, a boat, and a Ferrari. You think the guy on the losing end of that deal is just going to say "oh well, you win some you lose some" or, given what we know about the typical middle eastern mindset, is he going to strap a bunch of pipe bombs to himself and pay the other gentleman a visit?
Makes no sense no matter which way you look at it. This kind of logical contortion, and a dozen others, are all required to believe in "The RV".
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