Let’s look at December a little closer…the IMF told Iraq we are going to help you with…security, loans…everything… when we go into the first quarter of 2016 according to the contract you just signed with us you will be of international status…Article 8 compliant…you will have a currency with a new rate.
After all that is what the contract says that you signed…well this looks like what they are doing… Dec 15th…what about this date…now this might melt into Dec 16th or Dec 17th…we aren’t sure but that is the date frame that we believe the taxes and tariffs to be implemented at the borders of Iraq…will they be implemented with new codes and a new rate?
From the 15th to the 17th…will tell us an awful lot…we need to see a change in the rate in this time frame…if they don’t they’ve lost the opportunity for the taxes and tariffs and with this 2% compliance that IMO equals a float. I mean golly…why swim half way across the English Channel only to swim back.
January 1st 2016…that is a perfect date for Dr. Shabibi IMO…and if it is a float then we don’t need no 90 days…if it is a float 90 days are null and void…a float is going…90 days is not necessary to wait for anything.
January 11th…IMO…sometime after that date…you see prior to that date it could be anywhere from 10 cents, 20 cents, 40 cents but after that date it could be IMO…it could be 1 to 1…but I don’t know…we shall see…now if it isn’t it is because we are almost there.
It has started, that is the key to all of this…it has started…the fact that they have started the compliance of the street rate with the CBI…that is an Article 8 compliance that starts the float that takes them into the RV…then the CAP.