7-13-2012

A listener asks B if the newly printed dinar will replace all denoms or only the ones with three zeros.  He says he doesn't know.  Well, I know.  If they do what they're saying they're going to do they'll issue a new currency in lower denominations that will replace the IQD - ALL OF IT!!!  Every denomintion will be demonetized at the same time and the replacement dinar worth a thousand times more will be the only Iraqi currency recognized.  The idea that they'll only demonetize some denominations and leave others is nonsense.  That's not how a redenomination works.


Another listener asks if they're going to RV at the same time that they introduce the new currency, presumably Jan. 1 2013.  The listener states his assumption that the RV is getting closer because the money supply in Iraq is decreasing.  As I've pointed out numerous times this is a misconception based on bad information from gurus like Breitling.  The money supply is in fact growing in Iraq as the foreign currency reserves grow.  This enables them to maintain a stable exchange rate which is best for their economy right now.


B then goes on to say that they're not going to tell the Iraqi people everything that they're doing.  He cites Brazil as an example of that.  It so happens that Brazil redenominated several times, and not once did they issue new lower denominations, pull the large denominations out of circulation, and revalue their currency like B is telling us Iraq will do.  Brazil lopped three zeros off of their exchange rate and issued a new currency in 1986, 1989, and 1993 just as Iraq is saying that they will do.  Then in 1994 they redenominated again at 2750:1 (so it wasn't actually a lop because the math was trickier).  Nobody got rich off of those redenominations unless there was some douchebag brasileiro selling cruzeiros to gullible investors saying it was gonna go up 2750 times in value.


B says he can get in trouble by recommending a particular stock.  The reason for this is he's not a licensed investment advisor, which means he isn't qualified to give investment advice.  Bearing that in mind (and given his history of bad intel and misinformation), you have to wonder why people listen to this guy?


http://www.youtube.com/watch?v=npah7qbVDVc&list=UUFsclL8v97dpvyD5GmvGLFg&index=2&feature=plcp


http://dinardouchebags.blogspot.com/2012/02/breitling-catalog.html

http://dinardouchebags.blogspot.com/2011/10/breitling-busted.html