MarkZ

[via PDK]   From Rueters:  “Iraq revalues currency to 1300 IQD per 1 USD. – Cabinet statement”  On Bloomberg:  “Iraq revalues currency weeks after replacing central Bank head”  They are showing clearly that they have the ability to change it at anytime at will. I am getting some interesting feedback from the banking side on this. They are ecstatic. They have been looking for this first move. Treat this as a rumor but many of my bankers that are involved in the exchange process are convinced that after Iraq made that announcement this morning we are now in a 48 hour window since they have now made that first move.  Treat this as rumor…The thing you treat as fact is the process is well underway.