Clare
[Community comment to Clare 1-22-2024 Auction Article below]
"IMO the math used here isn’t what we can be excited about. 1250 Dinar is definitely better than the official rate of 1310 Dinar to the $ But if you take the old Dinar 1250 of them and trade them in for 1 new Dinar...1 million Dinar is equal to $800..."
YOU ARE NOT IN IRAQ EXCHANGING! HOW
DID YOU MISS THIS PART? Making the value of one dinar equal to one dollar... FOLLOW UP QUESTION "now I’m more confused, so if I’m an Iraqi citizen.. .I have to accept it at 1250 old dinar for 1 new dinar. But if I’m not in Iraq I can trade it 1 for 1...?" ON FOREX SUPPLY AND DEMAND WILL INCREASE VALUE EXTERNALLY...IN IRAQ THEY WILL ONLY USE DINARS. WHY DON'T YOU UNDERSTAND "A DINAR IS EQUAL TO 1 DOLLAR"
(IF IT STARTS OUT THAT WAY) AND THEN IT STARTS TRADING ON FOREX? THE VALUE WILL GO UP FROM THERE. IF THEY DO IT THIS WAY...