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[Mr Rockett] I've been reading other places and talk has turned to LOP. Please understand, if there was a LOP in the plan then the US and other countries benefit NADA from ever having held the currency. They would be screwed and that just is not going to happen. If I tell you that if you give me a 100 dollar bill, I will give you a 1 dollar bill that is worth the same and buy the same, I would tell you give me 100, 1 dollar bills then. It would be the most confusing thing ever and to an Iraqi citizen that has had no buying power even a tougher sell. Anyone with math comprehension can see that would be disaster.
[Mr Rockett] Why confuse the people, just say "we are going to introduce lower denominations to ease transactions and adjust the market prices to have it all make sense. Bread will not be 1000 dinar but 1 dinar"
[Mr Rockett] Let's not forget that they said they will use large denoms for banking and government transactions. Why bother if your 25k note is worh 25...that's a lot of cash to move for a 1 Billion dollar contract...No?
[Mr Rockett] That's how you increase the value, by exchanging the currency there. Has no impact. They are not erasing the value outside the country, just removing the 000 notes so when the reval does occur, they will actually not feel it outside of import export and contracts. Street will remain the same except that where the bread may cost 5 dinar at first will lower (in theory) to 1 dinar. See?
[Mr Rockett] Why confuse the people, just say "we are going to introduce lower denominations to ease transactions and adjust the market prices to have it all make sense. Bread will not be 1000 dinar but 1 dinar"
[Mr Rockett] Let's not forget that they said they will use large denoms for banking and government transactions. Why bother if your 25k note is worh 25...that's a lot of cash to move for a 1 Billion dollar contract...No?
[Mr Rockett] That's how you increase the value, by exchanging the currency there. Has no impact. They are not erasing the value outside the country, just removing the 000 notes so when the reval does occur, they will actually not feel it outside of import export and contracts. Street will remain the same except that where the bread may cost 5 dinar at first will lower (in theory) to 1 dinar. See?
