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Enorrste says there is no problem with them destroying the notes and bringing in new
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Enorrste says there is no problem with them destroying the notes and bringing in new
Enorrste
[...why is the CBI more concerned with reducing the number on notes rather the amount of curency in the market.] The CBI has stated two things: first, that the money in circulation is well supported by the reserves on hand, making the current dinar one of the strongest currencies in the world (in terms of backing); and second, that as the value of the dinar is allowed to rise the 3 zero notes will be gradually withdrawn until the money supply falls from its current 38 trillion dinars to about 25 billion dinars. At that time the dinar will STILL be the strongest in the world because they have $67 billion in reserves, or nearly 275% coverage of their money at $1 per dinar. Therefore, to answer your question, the "amount of currency" in terms of its current value, is not a problem and won't be as they destroy the large notes with the rise in the value of the dinar.
The number of pieces of paper, on the other hand, is a cumbersome problem that they simply WANT to correct prior to initiating the float...doing so will allow a larger bill with better security to come into play and will bring in millions of smaller notes than can be destroyed PRIOR to the intiation of the float. The result is that the float may well be announced shortly after the introduction of the 50k notes because they can destroy the smaller 3 zero notes that are turned in. Then, as the value of the dinar rises, even more 3 zero notes can be destroyed to lower the overall money supply, as they wish.
Ponee- Admin
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Re: Enorrste says there is no problem with them destroying the notes and bringing in new
Enorrste is dumber than a rock. How do they remove the currency from circulation without either 1. Lopping, or 2. Paying for it with their USD reserves which would mean they no longer have their 67 billion?
FS4Enthusiast- VIP Member
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Re: Enorrste says there is no problem with them destroying the notes and bringing in new
Wat to keep the facts from getting in the way of your lies. I will grant you that is a novel, if nonsensical, way to explain away the 50K notes.
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