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Breitling Report Audio April 2nd -- he says everyone should be VERY HAPPY
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Breitling Report Audio April 2nd -- he says everyone should be VERY HAPPY
Breitling
They are not going to turn the dinar into electronic money…it's not that kind of economy. They are still trying to piece this country together. There are not ATMs on every corner. 30% of the Iraqi economy is based off of the US dollar but the IQD is based on the USD anyway …they are after the US dollar so they can put it in their foreign currency reserve and back their notes up that much more…the 50 dinar note being taken off is a HUGE chunk. It's a big deal. You should be very very happy.
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Re: Breitling Report Audio April 2nd -- he says everyone should be VERY HAPPY
It isn't a big deal. At all. Come on, they're worth 4 cents each and are rare enough that they're difficult and expensive to acquire, common sense says it can't be a big deal. The circulation numbers for each bill were posted at DV and the total USD amount of 50 dinar bills was tiny. Plus they're not confiscating them and destroying them, you come in with 5x50s they hand you 1x250, so the amount of dinar in circulation doesn't change at all except for the even smaller amount that never gets redeemed.
And him saying they want USD to stick in their reserve is evidence AGAINST an RV. They increase the value of the dinar significantly and those USD reserves are going to go flying out the window faster than you can blink. Even if only 1% of their 80 trillion dinar M2 gets exchanged for USD at a 10 cent RV, their reserves are 100% gone and the remaining 79.2 trillion dinar are now worth absolutely nothing.
And him saying they want USD to stick in their reserve is evidence AGAINST an RV. They increase the value of the dinar significantly and those USD reserves are going to go flying out the window faster than you can blink. Even if only 1% of their 80 trillion dinar M2 gets exchanged for USD at a 10 cent RV, their reserves are 100% gone and the remaining 79.2 trillion dinar are now worth absolutely nothing.
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