Kaperoni

  In Kaperoni

Iraq is in a financial crisis in about to go broke. There is no RV. A country’s exchange rate is based on the growth and economic success of the economy and monetary policy is a tool to counter inflationary pressure as a result of that growth. It’s not some random act just to give wealth to people. The whole idea of a revaluation (RV) is nonsense. Central banks don’t work that way and it contradicts monetary policy. Remember the central banks are in business to make money not give it away. If Iraq ever had the intention to significantly overnight RV they wouldn’t have in excess of 40 trillion dinar in circulation outside the banking system in Iraq. That’s just too much money.