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Thursday, July 19, 2012

DOC POST, 19 JULY

7-19-2012 Doc: Just when we thought it was safe to get back into the water the fantasy rate prognosticators have popped back up stating rates anywhere from mid $3 to $8.  We would have thought the SIGR report would have ended the debate.  We find it almost humorous at this speculation when the news out of Iraq continues to state around $1. Just yesterday Mahma Khalil, decision-maker of the parliament's Economic and Finance Committee, said  "The zeros are removed for the purpose of increasing the value of Iraqi Dinars in a way that one Iraqi Dinar will be equal to one US Dollar," We have SIGR, 2008 five year plan, Shabibi, Shibibi's deputy, multiple members of Parliament and now Finance committee members all saying the same thing which is the initial rate will be around $1.  With all the people in the true know stating the same $1 rate we find it impossible to give any creditability to these reported high rates.

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