"RV UPDATE" BY MARKZ, 19 OCT

 MarkZ 

  [via PDK]   Question:  What do you still expect as the rate for the dong?  

MarkZ:  I still expect the low $2 range…$2.25ish. But, most of my sources say it could be more in the $3 dollar range…we shall see.

 ...They are making certain that everything is conducted in dinar from here on out.  For government function they can only use dinar…no other currencies... 

 Question: Do we need a new speaker of the house before Iraq can move forward?

 We are being told that the ball is in Iraq’s court now…so no …  Question: ...are we close...just asking for a friend?  

MarkZ:  I think we are close…It certainly feels close.

  I think this is an important piece…. ”Iraq raises interest rates to 7.5% and the economic council is considering raising that rate”  

This is not the borrowing rate…this is the savings rate. They are paying 7.5 percent to get you to put your money in the bank. This does a couple things…it shores up their economy, stabilizes the consumer (not the government but the people) 

…So in Iraq they are putting the citizen ahead of the government. It also does something else very important. It streamlines any rate changes. With the money in the banks…they are not as worried about the money changers on the street…  This makes it easier to do a re-valuation.