Frank26 [Iraq boots-on-the-ground report]
FIREFLY:Saleh is on TV and his is saying...our reserves are strong and there's no problem of the dollar in the market...By July 14th all will be fine with the parallel market rate.
FRANK: Your reserves to back up your new exchange rate, your new national currency, is off the hook. It can not only back up your currency but probably other currencies at the same time...
FIREFLY: Bank friend said something strange and interesting. Don't be surprised when this does come out it will come out pretty close to the cap or just maybe a fixed rate...It is possible they come out just right away at $3.22 because remember this is the reinstatement of our currency.
FRANK: Boom! Boom!
FIREFLY: They have so much riding on this with investment and any setback in the market could lead to a disaster of our monetary reform. Let's just say it comes out at $3.22 and it starts to move in the float or it could be fixed rate for a special period of time...
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