Based on what?
36 cents you say?
Per that chart which uses 08 M1 numbers.
The US latest M1 number is 1.6 Trillion dollars.
Iraq's latest M1 number is 38 Trillion dinars.
If they valued each at 36 cents, they would have $13.6 Trillion worth of dinar.
That's over 8 times more than than the US.
That sounds about right?????????
Remember... money supply is to support the economy.
The US economy is $13 Trillion a year.
Iraq economy is about $70 Billion a year. (and 90% of that is from oil sold in dollars, so they have only about 10 Billion a year in dinar economy)
So the US has an economy 185 times larger, and Iraq would have 8 times more currency.
The US economy is 1300 times larger if compared to Iraqs $10 billion dinar economy.
This shoud be a sticky!
Dow Jones Newswire: A current 25,000 Iraqi dinar banknote will become IQD25, and a dollar will equal only 1.17 dinars.
