Shredd] so, carry of cash is motive simplifying payments
[campdav] Shredd *slap* s shredders on the bum fer good post
[Shredd] accelerate trade exchanges right bubbs, that has to stop another motive is counterfeiting
[campdav] Its got all the practical steps and a lil mix of poss dis-info Thay are now very motivated IMO
[therealbubbie] Shredd it will stop when the kurds get more than 17% of the oil !!
[Shredd] ....and to bondlady's chat, i think it is easy for us to miss stuff if we dont' feel like the rv will be tomorrow, but holy freak, they gave us the 1 to 1 in this and it's from finance so that is solid
[campdav] Shredd I loved that 1
[Shredd] funny how they just state it like business as usual
[campdav] 1 ta 1 Im at the top of my game
[Shredd] kinda like last year's inspector general report "around a dollar"
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[therealbubbie] bless there little hearts !
[Shredd] so, to me....(if I may) this reminds us that the rate growth and the 000 plan is separate
[campdav] Shredd That is exactly what I was reflecting on
[Shredd] and a rate on par is what the rate will be by the time the plan is implemented
[campdav] Its a perfect plan Get the infras in place and go for a higher rate?
[Shredd] plus, we can hold on to our dinar longer instead of having to cash in within a few months, with the 000 notes being worthless after a certain date perhaps....what else could trigger a growing rate?
[Shredd] until the rate nears a dollar, the lower denoms will have no purpose and won't be released it'd be like the US releasing a half penny
[Shredd] a free float is not controllable so imo, with this recent news, i think it is pretty clear a managed float will be the case because, what if the rate grew to 2 to 1 before the 000 plan was engaged?
[Shredd] the only savior would be releasing the lower denoms but in one of the 000 articles, it said at the bottom that it is costly to mint new lower denoms as well as removing the large notes
[Shredd] the smart cards will mitigate the need for paper mone[Shredd] but there will be a comfort level the iraqis will need to get to because they are used to using whole paper bills for commercey Shredd] no bread price of 1.47 with a coupon over there
[Shredd] so, it seems the hinge of this all is the release of the lower denoms
[Shredd] and of course the monetary policy change [Shredd] but as far as an indicator is concerned, news of the lower denoms being released or printed or distributed to banks would be very telling Shredd] thoughts? what do you all think?
[campdav] Shredd Sorry phone
[Shredd] while you ponder... i can say this.... banks will not hold on to a supply of unused lower denoms for a long period of time being unused
[campdav] ok Agree
[Shredd] they have to hold a certain amount of liquidity for banking so, they will not stock lower denoms until the change is really close but to distribute from Baghdad would be easy immediate really and printing don't take long either
[Shredd] a few months [campdav] Do you believe the LD's are printed? [Shredd] but do we even have an article that the design/look of the lower denom notes was decided?
[Shredd] i know there was one that described buildings, etc Shredd] but i dont recall an article saying they finalized, only proposed
[campdav] Recommend the archives BL did in November [campdav] Proved pretty well Dalarue printed the currency, we didnt see it
[campdav] but were they the LDs? Shredd] well, in my opinion, if they were finalized, they'd be declared and shown on the CBI site See I dont think they would show us
[Shredd] but, imo, the secrecy here is intended because of counterfeiters [Shredd] don't want to give them lead time to study them
[Shredd] coins rarely get counterfeited and they take longer to mint so the trucks of coins is true imo so, logistically, i don't think the emergence or needed availability of the lower denoms is a concern
[campdav] Remember when they foiled a caper of 4 armoured trucks loaded with currency caught red handed
[Shredd] right so, to me, political stability is what needs to be acquired
[campdav] Were they Ld's, coins?
[Shredd] yes inflation and supply are being controlled via the auctions so that will keep going