[Central Bank/International Bank Regulator] I assembled this knowledge for him. He was trying to bid for a due diligence contract to identify the gaps that were in the CBI’s governance framework which will be used to bring the banking system into compliance…He told me the United States Treasury had given the Central Bank of Iraq a mandate to get your house in order…From what I understood, this was real…Once I started looking at what they were trying to build out and then also looking at the natural resources in the country…If you look at the valuation of the minerals that are in the ground, then the asset value, the price of the Iraqi dinar just doesn’t make any sense at all. It’s drastically undervalued. But with the banking system being reformed, first you lay the pipes, you learn the rail, then you turn on the water. What I saw happening is all that groundwork, the rails and piping were being put in place. Once that’s there it’s just a decision when to turn on the spigot. That’s what I saw happening…which I think makes the use case for revaluation hopefully in the near future. :Terrence [Post 2 of 2]
