Okay, how many mistakes did you notice? If you said one or two you need to listen again. If you said three or four you're average. If you said five or six you're above average. If you said seven or eight you're extremely well informed about the dinar and Breitling's douchebaggery but you're probably still too low.
I'm going to allow for some discussion in the comments below and then I'll add my thoughts later.
Okay, you've all had enough time to listen and comment. Here are my thoughts.
- They've told us they're reducing the money supply. The CBI hasn't said that they've reduced the money supply. They did mention reducing the number of notes, but that doesn't mean they reduced the money supply. For example, if you had 20 one dollar bills yesterday you had twenty notes worth $20. If today you have 5 five dollar notes you have five notes worth $25. You have fewer notes but more dollars.
- Iraq is on a dirty float and they need to be on a managed float. As DaveD pointed out last week a managed float and a dirty float are the same thing. B seems to be under the impression that they're different.
- The IMF doesn't tolerate a managed float. They're well aware of Iraq being on a managed float. It's really the only option for Iraq right now.
- Iraq wants to get into the IMF. Iraq is already a member of the IMF. Maybe he meant the WTO?
- Iraq isn't required to comply with the IMF since they're under sanctions. Most of Iraq's sactions have been lifted and they are required to comply with IMF oversight. They can't publish bogus money supply figures, and if they're doing that and the IMF doesn't say anything about it their credibility is in jeapordy as well.
- .33 dinar to the dollar is 33 cents. No, .33 dinar to the dollar is $3. .33 USD to the dinar is 33 cents.
- International business can't get involved in Iraq until their currency is worth $1. South Korea's currency is valued about the same as the IQD and they're doing plenty of international business.
- WARKA bank is doing fine. Only if you consider being in receivership fine.
I know some of you didn't want to waste your time listening to this drivel but I must confess that I find it entertaining. Maybe I'm just twisted but the idea of somebody who is this misinformed being lifted up as some kind of expert is hilarious.