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Friday, July 6, 2018

BREITLING TIDBIT, 6 JULY

The price per barrel right now is like $75 so Iraq doesn’t need to revalue. They simply don’t…that’s how they make their money. 90% of their economy is selling oil and right now they’re kicking buttThe oil prices are going to come down. We have 3 things…we opened up the places we can explore for oil. We have our reserves. And we have Saudi Arabia and Russia to make sure they’re producing more oil…And that’s what it means for Iraq…Once that oil price goes down…for the Iraqi dinar it means everything…Right now we’re watching the market and the market is going to react and it is OPEC, it’s Saudi Arabia, it’s Russia, it’s Trump and his policies... And that’s it.

That’s all we’re looking at.  That will open up the door for the value of the dinar, to start adding value to their currency.  They are going to have to do it.  As the prices go down they are going to go broke because they are not vested in other countries and other entities or anything like that.  Right now it’s still 90% oil…This is my opinion…They don’t need to wait for the price of oil to go down…they need to do it while the price of oil is still pretty high.  What that number is?  I don’t know…We’ll see if they do it.  That’s what they plan on doing.  That’s the conversation going on in Iraq.  Nothing negative has come out of Iraq.  It’s all been positive…we’re on the line here.

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