IQD CALLS Chat Monday Evening 10-21-19
Sandyf @Sergio Revaluation of Iraqi Dinar - The best example of Iraqi dinar revaluation is the Kuwaiti Dinar revaluation that occurred in 1990 and people who invested in the Kuwaiti dinar became billionaire over night.
Hi Seck, glad to see you are still out and about, I am getting a bit too old these days for it all. Thanks for bringing the General Tant interview up, I did some time ago and it was rubbished. Some would rather shoot the messenger than consider the facts.
As for Kuwait, there was never any revaluation, during the occupation the KWD was removed as the national currency and then reinstated.
During that time the Central Bank of Kuwait still operated in exile and they never changed anything, a revaluation can only come from the Central Bank, anything else is speculation. This is how the reinstated value came about.
" The banks were instructed to set their accounts at their August 1, 1990 levels, and to pay interest on savings and fixed deposit accounts for the entire period of the occupation."
You can read the whole Kuwait saga in this document "The Impact of the Iraqi Invasion on the Kuwaiti Banking and
Financial System: Lessons Learned from a Financial Crisis"
You may have a problem finding it as it looks like it has been removed from CBK website.
biff I wonder whyRead More