Tlar...

by **Ponee** Sun May 12, 2013 10:37 am

5-11-2013 Newshound Guru Tlar If you are an Iraqi, you almost have no choice but to use USD, a foreign currency, to be able to participate in the day to day economy. Again, its like us having to use the yen or the peso. Iraqi's don't like it but have little choice but to dollarize. Throw in fear that the dinar may not hold its value and you have created the perfect storm to dollarize.

Under normal circumstances countries replace their currency as it circulates. The average US dollar circulates one to two years before it is collected and destroyed. The dinars have been in circulation for 10 years plus. There is no replacement procedure in place and there is no plan to reprint the 3 zero notes.

Iraq is dollarizing for two reasons. The first is that the present currency is almost totally unusable in day to day transactions. The second is obvious to me. Iraq is getting ready to make a major change. We may be very close to the end. At the point that there is only a trillion or less in circulation in Iraq dinars left in Iraq, Iran and Syria, there will be no question that they could remove the zeros and support the currency at a dollar

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