[Iraq boots-on-the-ground report] FIREFLY: TV says within hours oil can flow [into Turkey]. Why you asking me? FRANK: I didn’t know it was already flowing or tested flowing or is about to flow in a few hours or can flow in a few hours. Dear God because if the oil flows, the exchange rate flows IMO. FIREFLY: My opinion is all related to the mechanism in this Article 12-2c. 12-2c will give us the new value…They are saying within hours oil can start…The budget table are coming. All is pointing to a Real Effective Exchange Rate IMO. FRANK: I agree Article 12-c holds the key, which is the new exchange rate.
