Pimpy

  In Pimpy's Investment Chat

To be quite honest, man, I understand why the bank was making a pitch for a rate around $1.13 / $1.34 but man after talking to my friend and thinking this over I can understand why they might go ahead with the $3.22 rate. I’m NOT saying that’s what the rate is. I’m just saying they don’t have anything to lose. They have nothing there. They need to rebuild everything. They need purchasing power.  So if we reinstate the rate at $3.22 that gives Iraq the purchasing power they need to import all the supplies and goodies they need to start rebuilding that country. Then later on if they want to go back and do an adjustment and lower it then by all means you could do so. But for now they have nothing whatsoever.