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Post by Ssmith Thu Nov 03, 2022 3:32 pm

I am told that is no longer true …there will not be a “true second basket” Now one basket of everyone that is ready will go….and all others will go individually as they are ready…we should still be able to take advantage and invest in the other countries currencies as they go…after the initial first basket. All those not ready I expect to float and float quickly to where they belong.

World Bank: The policy of changing the exchange rate of the dollar is the prerogative of the Iraqi Government

Everything is done…we are waiting for them to pull the trigger…There is all kinds of information coming to us on that front.

We have a lot of contention amongst the finance ministers  …my contacts in Iraq . I was told what they would like to do is go back to the 1200 rate …do that for a couple of weeks…then do a 1 to 1 rate with the USD for a short period and then reinstate it to the full value to allow them to suck up more dinar off the streets. I am still told that doesn’t affect us as we are covered under a contract rate with the “oil for dinar”. But that is the rumors I am hearing.
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