EXCERPTS FROM MARKZ
MZ: Auctions in Iraq have been occurring. I was told by a contact over there that this is the final part of their de-dollarization.
MZ: “The Iraqi dollar and the first day “passed peacefully” The Central Bank is innocent and free for the dinar” According to Iraqi Press today is the first day without the auctions. I am feeling good about auctions ending which should mean a new rate.
MZ: I am told Iraq was reducing their reserves to de-dollarize the market. This in anticipation of a rate change.
MZ: Bond Guys: I am expecting a number of updates throughout the day. European contacts are back in their seats today. First time since right before Christmas. News should start flowing this afternoon.
Member: Difference between banks and redemption Centers?
Member: Redemption centers are in redeeming banks…..and will have enhanced security for high wealth individuals. This is required for the very large exchanges that are expected. Also rates may be much higher.
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