[Iraq boots-on-the-ground report] FIREFLY:
The Central Bank of Iraq has been talking to us every day about the eventuality transition to a basket of currencies to stabilize the dinar, though it’s in the planning stages. We don’t agree to that because they are talking about it to us right now…The CBI confirmed the idea of removing the three zeros, a redenomination, is something they’re still working on. They have got the green light from the US Federal Reserves for dollar supplies which should help keep it stable but they’re telling us we’re moving to a basket of global currencies. They say this is the next step they are considering down the line…after they got the redenomination. FRANK: These reports are really fantastic…It’s what we’ve dreamed about. Everyday I wake up with a big smile on my face…It’s just amazing.
