…we…know Iraq wants to go back to their old rate at 3.22. We also know the base rate has to be 1:1. You can’t level the playing field any other way…The opening rate cannot possibly be below $1.00 and why Iraq’s historical $3.22 peg is not aspirational nostalgia but the gravitational center of a currency that is backed by the world’s fifth-largest proven oil reserves, a rebuilt gold stockpile, and a sovereign wealth architecture that has been quietly accumulating hard assets for over a decade…the real question is not “can they afford it” but “how fast does the rate rip through $1.00, $2.00, and $3.22 once the float begins… :Ariel
