MarkZ
[via PDK]
Question: Is it necessary for Iraq to publish the rate in the budget before we make appointments? MarkZ: I do not think it’s necessary. I believe they will try to keep the rate private as long as possible like what they did with Kuwait.
Question: I saw that Iraq has holidays coming up. Would this slow them down releasing the rates? MarkZ: Everytime we have looked in the past we saw Kuwait revalued during Ramadan…. Iraq revalued in the early 70’s during a holiday. I wouldn’t be too worried about those things.
It certainly appears to be the “Perfect Storm” right now...
[Referencing Mike Bara post below, 6-14-2024] Revaluating? I thought this was important...I had sat down with some bankers who wanted to run through scenarios with me and my currency and train some people. And that was the exact term they used in banking then. It is going to revaluate…Its revaluating. That is the terms the banks use. They do not say RV or that it’s going to revalue. Its revaluating.
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