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Tlar disgrees with Mountain Goat and feels the HAVE to get the RV into high gear now not in 2016
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Tlar disgrees with Mountain Goat and feels the HAVE to get the RV into high gear now not in 2016
Tlar
The reason the CBI is planning for a more valuable series of bank notes is because this will help solve the liquidity problem because as these notes are introduced, the hope is that they will temporarily reduce the need for higher note USD that is principally being sold at the auctions. The CBI is scrambling to fix the liquidity problem but that will take time. Money has to work its way into the economy.
They can't just dump it in. Personally I think the program to produce these big notes is dead before it begins especially if it will take until 2016 to start to introduce them.
Too little too late. They need to do something now and that something in my opinion is to get the RV into high gear now.
We are starting to see articles from other economists that feel the same way. Introduce a smaller note with value. No good argument can be made for introducing a large note at this time. If someone is going to attempt to counterfeit a small note, surly they will also counterfeit a larger note with large value. Introducing a new note is still introducing a new note and counterfeiters are more likely to try to produce a big note.
Personally I think it would make much more sense to just RV NOW, rather than wait until 2016 to introduce the large notes. I think that is what they will do.
One more thought. If the CBI is waiting on the security situation as so claimed, that is a big mistake in my opinion.
First off the CBI and the government has issued cards to make government payroll. They are not sending cash into mosul or any city that is under the control of ISIS.
If Iraq eventually runs ISIS out of the county, undoubtedly ISIS will take their spoils with them, especially cash. ISIS has to know that at some point Iraq will delete the zeros so even though it has been mostly USD they have stolen from the banks, they must have some dinar.
That dinar is already lost or moved. The likelihood or repatriating it is as remote as getting the Iraqi oil they stole and sold out of of the country. Not changing the value of the currency as quickly as they can IMO, will cost them as a country more in the long run than if they change it now.
It retards their economy and the economy is more important to get going than protecting any dinars they might loose from ISIS.
So as an argument to hold the project up at this time IMO doesn't make sense to me.
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Re: Tlar disgrees with Mountain Goat and feels the HAVE to get the RV into high gear now not in 2016
Nothing you say makes sense ... but then again what else is new?
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