LATEST FROM FIRELFY, 22 AUGUST

 Frank26  

 [Iraq boots-on-the-ground report]   

 FIREFLY: Mr Sammy [his Iraqi bank friend] was explaining how our three zero notes will coexist for 10 years after they drop the three zeros...This is not a LOP...We don't have inflation like other neighboring countries around us that have to lop.  We can delete zeros and introduce...the lower notes because of the value that is being added.  That's purchasing power. 

 FRANK:  That's always been the plan...I can't believe they're going to vie you these 10 years that Dr. Shabibi wanted.  That's incredible...Wow!

FIREFLY:  Saleh was talking about the floats and he was also talking to us about fixed rates.  He's saying no decisions have been made.  They talked about the pros and the cons of each one of these options.  Then the CBI came out and said in the coming days we will make actions to lower the dollar exchange rate. 

 FRANK:   Can the CBI lower the dollar exchange rate?  No.  Yes! How? 

 FIREFLY: ...The CBI's job is not to control the dollar...They can't touch a dollar but...the CBI can touch the dinar...If they lifted the value of our currency wouldn't that bring down the value of the dollar in our country?...Let's see if that is the only thing the CBI could do to bring the dollar down is raise the dinar.  They say in coming days.