WSOMN - Dinar

Hi to all my WSOMN friends.

If you were the CBI and knew that enemies of the State held billions/trillions of your currency, what exactly would you do?

If you just revalue, you will be making your enemies rich, and perhaps powerful enough to re-enter your country with more men and sophisticated military equipment.

If you redenominate, all is well and good.  No one will make any monies on the dinar.

To be sure, however, your enemy does not have any opportunity to cash out on the dinar, the easiest way to prevent that is to issue new currency.  To keep your enemies away, this currency would be issued in-country to Iraqi citizens only.

This solution will eliminate any dinar holdings outside of Iraq.

Forgetting about all the necessary actions and laws that need to take place before Iraq could re-value, there would be no other way to safeguard your monies and foreign currencies than to issue new dinar.

Keep in mind, Iraq is still receiving loans from IMF/World Bank which will preclude Iraq from revaluing until all monies are received, and all monies are paid back.....years from now.

So, to my WSOMN buds, I know ADMINBILL says not to sell back your currencies.  Could be good advice.  On the other hand, there might come a time when you will not be able to sell back your currencies.

The choice is yours.

Good luck.

Here's what the CBI says:

  http://govinfo.library.unt.edu/cpa-iraq/regulations/20040306_CPAORD_56_Central_Bank_Law_with_Annex.pdf