"IRAQ BOOTS ON THE GROUND REPORT" BY FIREFLY, 4 MAY

  Frank26   

[Iraq boots-on-the-ground report] 

   FIREFLY:  The completion of the Investment Law is on television. 

  FRANK:  That's big!  That's Big! ...This is really good news.

 FIREFLY:  Saleh is on the television right now...saying that the parallel market is almost at the official exchange rate and that is the rate they're seeking.  He calls on a floatation of the dinar saying to us this will get the rate where it needs to be. 

 FRANK:  Oh my goodness it doesn't get any better than that...This is a deeper explanation to you Iraqi citizens on the next steps of the monetary reform the CBI is accomplishing with you.   All of this was the result of the agreement from the CBI meeting at the US Treasury...

FIREFLY: Some guy on television talking about advantages that we as Iraqi citizens are going to have with a fixed exchange rate pegged to a stronger currency.  He says Iraq now has a soft peg and...the float is not necessarily as a fixed rate... 

FRANK:  The monetary reform education is explaining the reason why you don't need a basket...They are also expressing you don't need a float.  That's because your reserves are so powerful...But IMO the float will occur because it needs to reach the real effective exchange rate of your currency on an International level.  

They are also trying to explain to you you do not need to be pegged to any currency, not even the dollar.

 FIREFLY: Saleh is saying the start of implementation of the government and banking reforms has started. 

 FRANK: Woohoo! ...The new exchange rate is the pivotal role they are about to give them...   

https://dinarevaluation.blogspot.com/2024/05/iraq-boots-on-ground-report-by-firefly_0968153815.html