Iraq is selling their gold for dinar and that told us how valuable the dinar is.
What are we looking at?
It’s advantageous for Iraq to sell their gold for dinar to reduce their note count and buy gold at the same time so they can back up their reserve.
What’s the other part?
This is the article that makes me very very happy.
This means something to us outside of the note count itself and it has to do with the currency auction.
Article: ” The dollar recorded a remarkable rise in front of the dinar and the news of the central bank forced to floating the exchange rate…”
In other words they are going to take out the option of the auction.
If you realize what that means you would throw a party.
Why is Iraq making these moves?
The policy coming out of Iraq, the way they are buying gold and selling gold for dinar has completely changed.
It’s a beautiful thing, it really is.