Militia Man
The parallel market is a black market. It's illegal. They're not supposed to be doing it.
They're only supposed to be doing trade in dinar...At some point in time, whether it be today, tomorrow, the next day or out to the end of the year, they're going to de-dollarize the country...
There's illicit trade going on and there's fraud/money laundering and the ultimate goal is to get rid of it...If you're going to de-dollarize the country you're going to need to bring it [dinar] some value because a dollar is worth a lot more than a dinar at the moment...
Iraq went to the U.N. and told everybody they were a free sovereign state. That goes along with having a sovereign currency...and then to be able to go into the international financial system. ..
All of that is on the table...I don't think there is anything stopping them. I don't know if this is going to happen in the next 24-48 hours or if it's going to still be a significant amount of time. Bottom line is we can see them moving forward ...I'm elated and I think it's going to be a good week.
Where are they going to get all the money to do all this road construction? Where are you going to get all the money for the water, sewer and all of those things? Where is that money going to come from when you have an exchange rate at 1310? Everybody should be pretty happy to see Iraq is getting ready to be underway...
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