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Thread: A post on THE OBSERVER

  1. #1

    A post on THE OBSERVER

    Below is a copy/paste from today's edition of The Observer:

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    Mnt Goat (Dinar Guru) - …the 50k notes are a TOOL. First they will be used them to draw in the 10k and 25k notes thus reducing the money supply. When you reduce the money supply↓?, the rate goes up↑. By doing this it will allow them to drive up the rate to .90 – $1.14 as I said it will come out for IN COUNTRY OF IRAQ ONLY. When they come out with the .90 – $1.14 rate the citizens will gladly exchange the 50k (a three zero note) for the lower denominations if they are worth more. Get it? Then going forward these 50k notes will be stored by the banks and use solely for interbanking and international trading transactions – now out of the hands of the citizens.

    Where to begin with this.... Okay 1st, exchanging 50k notes for equivalent amounts of 25k, 10k or any other denomination of notes would make exactly zero change to the overall money supply. Why? Because a given total amount is a given total amount no matter what denominations are used to arrive there. So in MtnGoats example, it's still 50k for heavens sake. All this to say, the reason stated for the value going up is utterly false, whether by intention or pure lack of understanding is anyone's guess. I'm going with the former for my guess.

    Moving on to 2nd place.... The post goes on to say this supposed increased rate will be "IN COUNTRY ONLY". *sigh.....* How many times does this "in country only" change of value have to be thrown around by bags of hot air before good honest people no longer have to hear it said or see it in print again? I mean honestly??? Don't get me wrong, the current Irai dinar is a non-international currency so if Iraq wishes to change the value in country only they certainly can but...if they do we're all toast because the notes we hold would instantly and permanently become totally worthless, as in worth ZERO, nada, nothing, not even 1166 to 1....zero...forever!

    So, all that to say...why is this thing he's so joyously talking about supposed to be a good thing? Never mind it's deceitfully wrong....why? why? why? is the question. Which leads to an even bigger and certainly more important question which is, why in heavens name is this even posted on the observer without some HUGE Pinocchio nose or "Hey folks WARNING! this is total B.S." note stuck all over it? Why??? Has the observer devolved to the same plane as dinar recaps, throwing out every piece of hopium no matter how outlandish? If so fine but, there should be a huge disclaimer stating such so as to be 100% clear that the information isn't being propagated with any endorsement for validity. A very slippery slope indeed.

    Enjoy your Thanksgiving folks.
    Last edited by Kblp; 11-26-2015 at 11:17 PM.

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