…If, indeed, their currency has depeged, we will have to see what the market thinks of their gold reserves, foreign currency and bond reserves, and GDP. It will take a bit for a new value to be established...Don’t be surprised if it does not jump right away. Iraq estimated 10 days for the price to stabilize. I’m guessing it should settle by December 20th…I’m hoping for $1 or $1.50 by December 20. We will see what happens.
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