IRAQI DINAR INFORMATION

11-30-2015 *Kaperoni ~We all have talked about the auctions to death... In order to get in compliance, the CBI cannot restrict sales of the dollar. If they do, the spread increases. If they don't, the sales go higher due to corruption which depletes reserves. Plugs in the sinking boat don’t work. The only way is to bite the head of the snake off which is to deal with the corruption. And in recent weeks, though slow, there has been some progress with trying to stop the smuggling, sales to ISIS,etc. With the IMF overlooking this, at least there is an attempt and some progress in that direction. I think it is reasonable to say that it will take a long time to stop the problem if status quo was the plan and because it is so rampant. That being said, I do not think the status quo is the plan now that the IMF is involved and we will see a solid attempt to meet Article VIII guidelines. Currency reform is key to a market economy. There is no way around that...you cannot do one without the other. And for that very reason, I remain optimistic that currency reform will begin to occur within the next several months. ...the IMF is overseeing monetary policy now and that should be some re-assurance to us all.