.DELETE THE ZEROS By MY LADIES
DELETE THE ZEROS By MY LADIES 8/29/2019
Emailed To Dinar Recaps
HELLO FOLKS, HOW IS EVERYONE DOING? TODAY I WANT TO TALK ABOUT HOW A CURRENCY REDENOMINATES.
THERE IS AN AWFUL LOT OF SPECULATION GOING ON RIGHT NOW ABOUT A FEW CURRENCIES AND THERE ARE A GROUP OF PEOPLE THAT ARE EXPECTING TO BECOME OVERNIGHT MILLIONAIRES WITH THIS SPECULATION. SO, LET’S JUMP RIGHT IN AND SEE IF WE CAN PUT THIS RUMOR MILL TO REST ONCE AND FOR ALL.
I WANT TO START BY SHOWING YOU SOMETHING FROM THE IMF. THIS IS THE OFFICIAL ADOPTED STEPS THAT NEED TO BE TAKEN TO COMPLE A REDENOMINATION.
I NOTICED SOME OTHERS WERE USING THIS EXAMPLE INCORRECTLY AND WERE TRYING TO CONVINCE GOOD FOLKS THAT A HUGE RETURN WOULD BE REALIZED BASED ON THIS MODEL.
FOR THOSE THAT HAVE BEEN WITH ME A WHILE I INTRODUCED THIS OVER 5 YEARS AGO AND RE-CAPS CARRIED IT. SINCE THAT TIME OTHER COPY CATS HAVE BEEN USING IT TO PROVE THEIR NONSENSE AND GARBLE.
SO HERE FROM THE IMF. I’M GOING TO HILIGHT SOME POINTS BUT EVERYONE SHOULD CLICK THE LINK AND READ THE WHOLE THING. https://www.imf.org/external/pubs/ft/fandd/2013/12/lonnberg.htm
New Money
On occasion, a country must introduce a new currency. Turkmenistan, the former Soviet republic in central Asia, decided in 2008 to undertake a currency reform.
A major gap between the official exchange rate and the informal or market rate meant that Turkmenistan’s price system had become complex and inefficient.
This, in turn, created complexities in accounting and statistical reporting. So, the government decided to introduce a new currency before launching market-oriented reforms.
Introduction of a new currency comprises four phases. First, the necessary preconditions—sound macroeconomic policies and strong financial sector legislation—should ideally be in place or under way.
Next, careful preparation is required, setting up the policies and processes behind the reform and drafting a detailed budget for the entire currency reform (including the cost of printing and minting the new cash currency). Then comes production of the new currency, and finally the most challenging phase: implementation.
Important as all these preparations are, the success of a currency reform depends just as much on a successful public education campaign. The central bank needs to coordinate this campaign with other agencies, financial sector representatives, merchants, and the general public.
A delicate balance must be struck between providing sufficient public information and the need for confidentiality to avoid releasing clues to counterfeiters that could be used to undermine the integrity of the new currency.
The information campaign should encourage people to deposit their cash currency in accounts at banks. The campaign must make it clear that once the currency reform is initiated, account holders can withdraw their money in the form of new banknotes.
A second important point for the public education campaign is timely information on the stages of the currency reform to discourage a run on banks with temporary liquidity problems. IRAQ DID ALL THESE STEPS
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