Mnt Goat

  In Mnt Goat 

Article: “ADJUSTMENT TO THE EXCHANGE RATE” Quote: “…which is likely to adopt the method of “managed float” in the next step in conjunction with the increase of central reserves,…” This…verifies everything I have been saying all along. I talked about first the project to delete the zeros accompanied with an in-country revaluation to around 1:1, then a reinstatement on a managed float, pegged to a basket of currencies. But first right now they have to increase the CBI reserves, as Dr Shabibi did and was then were ready to go in 2012. What was the reserves back then? In 2012 it was around 90 billion. Just recently al-Kazemi announced the reserves were around 60 billion. So we can see it might take another 2 years (as the CBI just predicted) to reach the goal needed to go to the next step.

Tags: , /