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THERE IS NO Global Currency Reset!!!!
~ Marcus Curtis~ in Baghdad Invest forum
Basing a currency’s value on vague unspecified resources simply lying in the ground is total nonsense. Ninety eight percent of Iraq’s wealth is USD paper. Jack said,
“There is just as many GCR gurus spewing out junk economics as there are RV gurus. Many people cling to this because they’re deathly afraid of admitting Iraq is going to redenominate and they are left trying to find some alternative “magic millionaire elixir” to allow Iraq to keep 85 trillion Dinar and somehow magically make it more valuable to avoid admitting the blatantly obvious “elephant in the room”!
“It’s a common guru fallacy that the dinar must be weak purely because of the dollar which will be corrected by a mythical GCR event. This is nonsense. The dinar is also weak vs the Euro (1590:1), GBP (1919:1), Gold (1.475m Dinar / oz), Silver (23,157 Dinar / oz), commodities (eg, Wheat ($272/mt) is 317,457 Dinar / mt (metric tonne), etc.”
“Same is true of the Dong – it’s utterly mind-boggling how some people can sit there with a straight face and say a GCR will adjust the undervalued Dong, when the Dong’s 21600:1 rate vs the dollar is a direct result of the Vietnamese Central Bank printing an eye-watering 3.5 QUADRILLION Dong! For clarity’s sake that’s 3,519 trillion Dong vs the Fed’s $11 trillion-dollar.”
and Jack is right! I verified this data too.
All these over inflated currencies are going to magically revalue because they are not really over inflated? Give me a break!
This is only quoting a small portion of facts to which Jack has already went into great detail on.
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