[Response to Guru Markz post 9-23-2024 below] They’re not doing exactly the same thing they did in Kuwait…Iraq has 25,000 notes. Kuwait never inflated their money. They never had to. They’re not using the same terminology…They devalued their currency to keep it from being stolen by Iraq…They didn’t want the Kuwait people to lose their wealth so they devalued the currency. As soon as Iraq was chased out of Kuwait they turned around and they re-denominated which means they changed the looks of the notes. They didn’t have to delete zeros…Kuwait got new notes. The denominations never changed…
Above mentioned Post is below
MarkZ [via PDK] In Iraq: Pay attention to this one. “Al Alaq –We are constantly reviewing the deletion of dinar zeros and there are no restrictions on the balances in America” That part “No restrictions” is telling us that Iraq is in charge of its own money. In this article when you do a deep dive in it – they are doing exactly what they did in Kuwait with the terminology and phrasing and telling us it’s time to remove those zeros. In Kuwait they greatly increased the value…they had to turn them in for lower denomination notes or deposit them in banks…. Question: So we have to exchange our 25k notes for lower denoms before we exchange? MarkZ: No…That is how it worked in Kuwait.
