sandyf and Kaperoni duke it out...

by **RamblerNash** Tue Apr 27, 2021 9:46 pm

sandyf

NORV [Guru Kaperoni] is right in that no country could ever revalue in the way suggested, and in particular Iraq. He is also wrong in trying to make out there would be any benefit in floating he currency. No country that has ever been forced into a flotation has gained value in the short term. The guru BS continually refers to Kuwait but that is fake news, there never was any RV in Kuwait. During the occupation Iraq replaced the KWD with the IQD as the national currency. The Central Bank of Kuwait went into exile and continued business as best it could, after the occupation the KWD was reinstated as the national currency at the same value it had before. Anyone interested in what actually happened should read the document "The Impact of the Iraqi Invasion on the Kuwaiti Banking and Financial System: Lessons Learned from a Financial Crisis"

Kaperoni

Guru Sandy made a comment that I was wrong about Iraq floating the currency. First of all I don't expect them to float it under the current conditions. Secondly, Iraq has a lot to do before they can float (such as passing laws and encouraging foreign investment)...Sandy needs to read the IMF documents where they specifically talk about Iraq floating the currency. And lastly everyone knows with all the numerous articles, floating is what currencies do. Especially with emerging economies.

by **Sam I Am** Fri Apr 30, 2021 2:46 am

No oil based economies have a free floating currency, and don't give me any crap about Canada having an oil based economy. They have a diversified economy like ours, even if the oil revenues do make up a greater % of their GDP. Iraq's currency is on a tightly managed float and will remain so until they have a Western model diversified economy. That will take decades if it ever happens.

by **RamblerNash** Sat May 01, 2021 12:25 am

I think sandyf has more of a grasp on that than Kap does. Kap still wants to apply an IMF article from almost a decade ago and is stuck on his interpretation of the word "float".

sandyf and Kaperoni duke it out...

sandyf and Kaperoni duke it out...

Re: sandyf and Kaperoni duke it out...

Re: sandyf and Kaperoni duke it out...