Why you should not panic…we know what’s going on. They are announcing the rate change has increased. There are lots of articles about it. Washington Post Article: “Iraq’s central bank devalues dinar by 22% amid public anger” Here’s what’s going on. They’re devaluing their dollars. I don’t feel discouraged one way or the other about this. I don’t anticipate this rate change being long term. Iraq is going to be the gateway into the Middle East. There’s no doubt about it. Once they start rebuilding it’s really going to take off…the stronger the economy becomes the stronger their currency becomes. This might be their way of shaking speculators off of the dinar. They’re trying to get you to stop buying dinar.
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