QUESTION : "ARE ALL CURRENCIES GOING TO FLOAT? TO MARKZ, 19 JUNE

 MarkZ  

 Iraqi PM Sudani has announced on Iraqi RV that before the end of the holiday, which was this Wed. 19,  June, that the Iraqi citizens will have their new exchange rate, access to new ATM's and the lower denominations.

Question:  Are all currencies going to float? IQD, dong...etc…?   MarkZ:  I would not look for much of a float because we are supposed to peg to assets...

Comment:   An intel guru...says Iraq is following Dr Shabibis plan to a T.  MarkZ: They are. The plan was to increase the value, put lower denominations in circulation, and put the larger notes we hold in the banks for foreign reserves. Shabibi planned it all out and told us what would happen.

 I do feel comfortable saying it has started…we are seeing movement…My understanding may be a little off as to how they are executing it...It’s been pretty quiet from Iraq sources over the weekend. They seem to finish things first over there and then tell us.