Rockfl9 says that an RV/RI would violate CBI LAW

Admin Posts : 34761 Join date : 2011-08-09

Rockfl9 says

The CBI law sets two objectives for the bank.

1 Price Stability. ? Changing the rate would alter prices across the board and disrupt the economy. Not all to the good.

2 Improve and maintain confidence in the banking system ... This would be a good one. CBI says we' are sorry but we have been using the wrong rate all along . Here is a new one . A great trust builder .

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Guest

There is no "law" imposed by the IMF. They make agreements, not laws. If it is a revaluation, devaluation, rebase, any currency changes, it is up to the government that owns the currency.

Just today, Venezuela devalued their currency by 80%. Last week, Sudan had a 165% decrease in value.

https://www.bloomberg.com/news/articles/2018-02-05/venezuela-devalues-bolivar-more-than-80-in-currency-auction

https://www.reuters.com/article/us-sudan-economy/sudan-to-devalue-pound-currency-to-18-per-dollar-in-january-minister-idUSKBN1EK0NT

Doesn't mean there will be a change in any other currency values, just setting the record straight.

Admin Posts : 34761 Join date : 2011-08-09

Thank you for sharing, RealitySucks! Your input is appreciated.

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Trust but Verify --- R Reagan Suspect

"Rejoice always, pray without ceasing, in everything give thanks; for this is the will of God in Christ Jesus for you."1 Thessalonians 5:14–18