Don't Hold Your Breath...There Is No Global Currency Reset Comming For The Iraqi Dinar & Other Currencies

We've all heard talk of this Global Currency Reset. Truth is there's no such thing. The IMF and economists from Harvard and the London School Of Business even say these terms like Global Currency Reset are essentially made up and not part of economic lingo or terminology.

I've heard a number of reasons why a global currency reset is comming. I've heard some though not true, at least use economic terminology and talk a good game as to why one would happen. I've also heard some out there kind of stuff involving aliens and some really out there stuff.

Here's my take on it, and I can't break it down any simpler than this. Look at the currencies people claim will be part of the Global Currency Reset. Iraqi Dinar, Vietnam Dong, Indonesian Rupiah, South Korean Won, etc. These currencies and countries really have nothing to do with each other and nothing in common. The one common underlyng thing about these currencies is that they are all worth nothing and you get a ton of them for even a single US Dollar. I liken it to people who play penny stocks. They often don't understand investing or even the company they are investing in but they can buy like 100,000 shares of this stock for only $1,000. If that stock ever goes to $1 I'm going to have $100,000. Now they often don't investigate the company and realize that the company isn't financially solvent or that the stock has no chance of ever hitting $1 or even that it may be a pump and dump scheme stock but just the fact the possibility to strike it rich is out there overrides all that. I would liken the Global Currency Reset crowd to these penny stock investors.

Basing a currencies value on vague and general comments that they have resources is non-sense. Tons of west African countries have immense reserves of resources from oil to gold to diamons but they are not rich and their currency doesn't have a lot of value. Oftentimes other nations will come in and profit from one countries resources and this could very easily happen in Iraq. Heck it is happening in Iraq with the Chinese. Most of Iraq's wealth is in USD money.

A Guru is a Guru whether they are talking about a Gloal Currency Reset or just talking garbage economics and throwing around fake terminology which makes them seem credible.  Many if not most Dinar buyers cling to it though because they want to strike it rich and because they don't want to admit that the Iraqi Dinar is not going to solve all of lifes problems.

Many Gurus try to claim that the Iraqi Dinar is artificially weak and undervalued, often pointing to the Saddam values, however they fail to mention that those rates were artificially inflated. The idea that the Dinar is weak and will be corrected by a magical Global Currency Reset is just ridiculous.

It's the same story for the Vietnam Dong. People talk about how the Vietnam Dong is undervalued and while I agree Vietnam has some things going for it's future such as moving manufacturing over there and starting to take steps to devalue the currency on their own before it happens for them are good for the future. That said it's not going to make anyone rich. The reason Vietnam's currency is so low is a result of them printing 3 and a half Quadrillion, yes you read that right Quadriollion Vietnam Dong. Just to put that into perspective for you that's about 3,500 Trillion Dong in circulation vs the Federal Governments of the USA's 11 Trillion Dollars. And you thought we liked printing money out of thin air.

I love how people love to ignore the free markets. Generally something isn't undervalued, it's value is what people are willing to pay for it. I see similar things going on with Crypto Currencies right now. Just last night I was reading about a guy who was involved in the Crypto Currency Pot Coin, an up and comming competitor to Bitcoin. He was telling people with Potcoin and Potcoin miners to stop selling their Pot Coins for so cheap, he said they were driving the price down. Someone sternly corrrected this guy telling him to get his head out of the sand. Whatever people are buying and selling it for is what it's worth. If this guys theory was correct and that Potcoin was undervalued and being sold undervalue why doesn't he put his money where his mouth is and buy up all these cheap undervalued coins?

Also, if the coins were undervalued wouldn't others be buying them up as well? Yes they would, that's why the currency is not underalued, this guy simply wants to be able to sell them for more than he currently can, and isn't that true of all of us? Silver right now is $22. I have a monster box of 500 Silver Coins. I would love those coins to be worth $50 a coin instead of $22 but they aren't undervalued that's what people are willing to pay.

A perfect example of how this doesn't play out in real life is look at Argentina. There currencies offical value is something like 5:1 currently. If you go to Argentina however you will see everyone in shops, restaurants, hotels, even cops on the street want Dollars so you can generally get almost 10:1 in the streets. Why? Because though the Argentina Peso has an offical value the people don't trust or believe in that value.

It's amazing how similar Iraqi Dinar speculators are to Crypto Currency speculators. Some may call both groups crazy but at least Cypto Currencies have made people rich. That's a fact, Bitcoin made many millionaires as did Litecoin, Dogecoin, and even some other up and comming coins. Don't buy up and comming cypto currencies counting on being a millionaire but it does happen. The same can't be said about the Iraqi Dinar.