Iraq is basically under way. They have done everything we know of except having their rate posted for their Iraqi dinar on their CBI website.
My understanding…is they intend to show that rate tomorrow [Friday]. Iraq is still under major information blackout in or out of Iraq. The only way we know anything is by calling our direct contacts who have family in Iraq and we get a little bit by phone.
For example we know some of the contacts that we have are Iraqi citizens that have dual citizenship and live in the United States were told they will be getting a major raise in their accounts through Rafidain Bank between today and January 13th. That is a good indicator when they are told they will have an increase to their pay due to retirement, or increase their profit sharing from their oil revenues.
All those raises reflect due to a rate change as well. Things are moving it appears from east to west. We had a blackout of information out of Iraq and also true in communication normally made by the large international banks. Their communications had a cease and desist order. That is a good sign that things are really happening.