LATEST FROM MIKE BARA
The word I have is that Thursday night, the US Treasury told Iraq that if they didn't revalue their currency per the agreements "immediately," UST would force the issue. Iraq responded that they were holding up because of concerns about some smaller banks that they suspected were doing business with the Iranians.
They are determined that no RV funds make their way to Iran, because the two countries are historic enemies. UST responded by seizing the 5 banks, consolidating them into a single, manageable entity, and pushing the RV through.
Today, the Central Bank of Iraq made the announcement regarding this transaction. As far as I know, this is the last hurdle to the revaluation. More as I get it.👇🏻👇🏻👇🏻
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The “Bondholder” still has not been paid. He is expecting a call today.
Other than the MarkZ report that an announcement about lower denominations has been made in Iraq, There is nothing else to put out right now.
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