Frank26 (KTFA)
[Iraq boots-on-the-ground report]
FIREFLY: Channel One says Iraq needs half of the existing exchange companies and banking needs to be rehabilitated.
FRANK: Yes they’re shutting them down left and right…they’re selecting which ones they will give licenses back to because they will need many money exchangers when the rate goes up inside of Iraq because they…will bring in their 3-zero notes and exchange them for the lower denoms because the lower denoms will be more powerful than the 3-zero notes and IMO more powerful than the American dollar. Mark my word.
Article Quote:
“Many financial advisors in the government hope, with the release of budget funds, that next month will be a catalyst for the very large decrease in the dollar exchange rate.”
Well the CBI can’t do that. How can you get a very large decrease in the American Exchange rate against the dinar? By adding value to the Iraqi dinar exchange rate. Which is what they’re about to do.
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