Militia Man
Iraq says they're opening a copper recycling plant. We talked about phosphates...sulfur...liquid natural gas and now we're talking about they're opening a recycling plant to do what?
To help their infrastructure. Infrastructure is what's driving the...Development Road Project. They're going to need thousands of tons of copper rods annually. They're going to be able to produce that...They have so many raw materials... It's nothing but bullish for this country.
Question: will the rate be fixed or a float?
Militia Man: Saleh who is the prime ministers financial advisor has released several articles on this. I think a managed float is exactly what they are talking about. It’s a form of a fixed…and a form of a float. It’s a component of both...If there was to be growth…imo it would be as conservative as they can.
They will need to keep the rate stable on the dinar. Contractors would not appreciate rate or price changes every day...remember the reinstatement rate 20 years ago of $3.22. Even the IMF has documents stating this was a relevant number. If it came out at that…they would keep the rate in a relevant range.Could it grow from there? It could. And they could adjust that accordingly but would probably keep it pretty tight.
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