MarkZ
[via PDK]
Question: Anyone heard anything about Iraq going by itself - not all countries?
MarkZ: A person in our community had an interesting conversation. He has a personal relationship with a banker.
Quote: "Met for dinner with a banking executive...the banker told me about the basket, or first round is going to be only the Iraqi dinar and the Iranian Rial.He said those countries are gold backed and their internal banking systems are more set up…more so then the others are. The dong should be ready to exchange by late fall...He did not know about the shotgun start and said it will be easier to roll them out piecemeal... "
I take it as a very good sign...It is encouraging to hear an active conversation about it and that it’s going soon...I am still hearing that the majority of the currencies will be going all at once. But, it's best to be prepared.
Question: if Iraq and Iran go first and alone, I wonder- will the currency still be allowed to float? MarkZ: I would assume “YES” …I believe all currencies will be allowed to float after this. Because of the underlying asset values.
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