Bruce
[via WiserNow] ... the rates are moving in the direction that we actually expect them to be ...Rates are populating and...they were...moving at 90 miles an hour...I don’t know if we are going to have fixed rates when we go in or whether we're going to have variable rates because they're still being traded up or down...But whichever it is they're going to be...
very good. And I heard... that the contract rate on the dinar is going to be very very high... the contract rate is based on what a barrel of oil in Iraq can be sold to a buyer like Turkey who's buying oil by the barrel from Iraq, that created a...contract rate for us... So I think we're going to be very pleasantly surprised by that...we're looking forward to getting this very soon.
We know that...Iraq paid back the IMF – a loan that they got in 2003...that's when the new 25 10,000 5000 1000 dinar notes were printed. Our notes that we have now are printed starting in 2003. And they paid the IMF back at $8 billion against a loan Iraq received in 2003... Now, to do that, you had to have a revalued dinar...to make that doable...
the rates are actually on the ATM’s in Baghdad in airports and other places. So have they converted over to I think the new rate in country – yes... they're keeping it hidden until they're ready for everything to be released.
...we have about 17 - 18 currencies that are going up substantially in value. We know that you know that obviously dinar and Dong - Dong is one of those...
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