This past couple days Iraq met with the UN. The UN has stepped in and threatened that, if the killing does not stop, Iraq may re-enter back into Chapter VII. We know that Iran would luv this to occur as this would mean continuance of the currency auctions. So to meet some of the demands by the protesters, a decision has been made to finally pay the citizens their monthly HCL allocation. Remember also that HCL money, when paid out, has to be paid out at a rate over $1.00 USD. There is no way to get around this.
So this was a measure also put in place with the expectation that this actions would someday coincide with the currency reform…It is the hold up of much progress in Iraq. I believe we are in a VERY GOOD position to see a rate change of the Iraqi dinar sooner than later. But remember Iraq is still on the OPAC sanction list and so the US will have lots to say if the dinar gets back on FOREX. We don’t go to the bank unless its on FOREX. There is a pot of gold at the end of the rainbow for us, we just have to get through the storm first. Relax the storm will end and we will see that pot of gold.