We can have some fun here eh. Global currency reset theories are plentiful.
The suggestion is it will be done "one Saturday night" and basically have a good/bad Monday depending on which country you live in.
Apparently the BASEL III banking accord (agreed by 198 countries ??) provides for it and a countries currency is (supposed) to be backed by assets (so precious metals, oil,...). - As if the "price" for these assets can't be manipulated?
There are some possible problems that are very apparent - with its oil assets the IQD (Iraqi Dinar) becomes very "powerful" (and apparently the US holds Billions of IQD - so why not let it become strong).
The idea being the "currency reset" avoids a w/wide crash . Go figure what it means - I can't rationalize it.
This was aired last year on Bloomberg (July 25th, 2013)
AKK Price at posting:
1.6¢ Sentiment: Buy Disclosure: Held
