Post From IQDCalls Chat Room
Chat Room News Excerpts & Highlights Tuesday Night 5-1-18 Part 2 of 2
Baxter So... lets say it RV's tomorrow for a dollar... and lets say there are only 5 trillion dinars in the United States.. which there is probably much more.. but lets say 5 trillion... and we go to the bank to exchange... my question is..and always has been... who is going to fund our exchange?
Baxter the CBI cant fund it... they are only worth 50 billion or so...
Baxter There is the rumor of our Treasury Dept funding it with oil credits to Iraq... for 32 dollars a barrel..and then our govt sells the oil for around 70 dollars...and makes a ton of money...
Post From IQDCalls Chat Room
Chat Room News Excerpts & Highlights Tuesday Night 5-1-18 Part 1 of 2
Future Skepticism about Cedi Redenomination
The motivation to write on the cedi redenomination is the apparent evidence of the ill-preparedness on the part of whoever is initiating this change. Hence, there is need to query about whether it is necessary and at what time frame; thus why at such short notice? The right of Ghanaians to know the cost involved its acceptability and the overall beneficiary of the policy if it is implemented.
There is ample evidence from international finance and policy making documents of about fifty countries that I have studied, showed that throughout the past four decades redenomination has failed in a lot of countries.
future a redenomination or AKA lop has failed countless times and used for an absolute last resort for monetary policy
Thank you PinkRoses
THE BIG CALL WITH BRUCE TUESDAY, MAY 1, 2018, INTEL ONLY
TRANSCRIBED BY PINKROSES
Bruce: Welcome Everybody to the Big Call tonight. Let’s figure out what is going on. First of all I got word this morning from couple of different sources that last night, late last night into about 1:30am EST daylight time, that Iraq had effectively revalued.
Of course, here is the thing. We knew they had a new in country rate for a while, their Qi cards had been active, and they had the new Visa Qi cards in addition to the Master Qi cards. The Visa Cards were tied in with the Rifadain Bank those cards are for the portion of the oil revenue sharing that the citizens receives every month on their new Visa card.
That just started Saturday was the first day they were really to receive any funds on that. That is really cool. That is something fairly new.
Also they are in the position where Iraq has been receiving this financial education for the citizens to teach them about the banking and the banking system to teach people of that culture to trust their banks.
There Is No Escaping History: Fiat Currency Eventually Fails
Paper currency has led to the collapse of almost every economy that has tried to institute a fiat currency to trade for goods and services. It’s not looking very well for the once mighty dollar, either.
Throughout history, attempts at using fiat currency, even today, has failed. When the government prints fiat money that isn’t backed by any value, disaster inevitably ensues. Still, the long history of failed fiat currency is being ignored by today’s money printers.
At the start of the first century, the Roman denarius was a coin containing approximately 94 percent real silver.