KFTA

PMac: I’m having a hard time debating my Dad how the MR of the IQD is going to be exchanging the 000 notes for full value, and not a LOP.
I can’t find anywhere in my notes how to explain this.  Anyone have it in their notes?  Just a couple of sentences or F26 quotes would be helpful!  Thanks
7-FA:  Ok let us say right now that the Dinar is 1166.00 to 1.00 USD….. When they raise the rate they are going to move the . 3 places to the left or in other words dropping the 3……0’s…. Now when doing that you now have 1.16 for the exchange rate. I hope this helps.
McDan:  Program rate. .00084     No program rate. Real exchange rate dropping the zero in the program rate.    IMO. Besides Dr. Shabibi said NO LOP
RickLibby:    look at this from Wikipedia   https://en.wikipedia.org/wiki/Iraqi_dinar
paragraph #4 explains the process and who is involved with the RV.
note EO13303. giving the us citizen options to invest in Iraq’s recovey.
Between October 15, 2003, and January 15, 2004, the Coalition Provisional Authority issued new Iraqi dinar coins and notes, with the notes printed by De La Rue using modern anti-forgery techniques to “create a single unified currency that is used throughout all of Iraq and will also make money more convenient to use in people’s everyday lives”.
Multiple trillions of Dinar were then shipped to Iraq and secured in the CBI for distribution to the masses in exchange for the ‘Saddam dinar’ ./ of [2] Old banknotes were exchanged for new at a one-to-one rate, except for the Swiss dinars, which were exchanged at a rate of 150 new dinars for one Swiss dinar. At this point, the UN, IMF, WB and US combined to limit the value of the dinar to less than 1/10 of a cent to prevent looting and counterfeiting.

The US Treasury was commissioned to print multiple billions of US currency, specific to Iraq so as to easily identified as different from that used elsewhere in the world. This new currency was then wrapped and stacked on pallets and shipped in dozens of USAF transports to Iraq.

There it was transferred covertly to the CBI, where it was stored in very secure vaults. In exchange, UST officials separated an estimated 7 trillion dinar which was transferred to the US Treasury in Washington, DC, where it is store in a special vault. This dinar exchange was to guarantee the US costs of the war would be recovered when the dinar is revalued. (E.O. 13303)

FrostyTheSnowman:

lop_orig

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