I want to talk to you about the article that I posted back on the 16th of October. The economist is talking about the economic crisis in Iraq – and offers his opinion of how to get over the crisis. He claims that in the beginning of 2016, Iraq needs to make some changes to avoid some problems.
So many events led to the crisis — (ISIS, corruption, oil prices). He said that Iraq needs to boost the private sector and agriculture. He said the solution (…coming very soon) …the very most important solution would be for the government to reevaluate the Iraqi Dinar.
The CBI – they are spending 5 Billion Dollars a month to give to the Iraqi banks – (to defend the Iraqi Dinar). Reserves…he said that only…about 55 Billion left-over…which means by the middle of next year, they will run out of reserves. So what happens then? Iraq would collapse.
The revaluation of the Iraqi Dinar will fix a lot of problems. For us, this appears to be good news because everyone is telling Iraq that they need to revalue at a very good rate to help out with the current situation. The nation of Iraq will collapse if they don’t do something before the end of the year…maybe even November 21st you might see something.
Abadi knows that the economy will collapse without it. This is 100% fact! …they have no choice and they really are out of time…the authors of the plan will lose. This is very, very important. They know what they need to do. I believe before the end of the year they MUST do something!