Update and info about significant things relating to the RV of the IQD - Sam G post emailed to Dinar Recaps
Update and info about significant things relating to the RV of the IQD, from Sam G
Our watch date of July 9 was the first day of Ramadan and it turned out to be the date that the FDIC officially implemented Basel III requirements on US banks. I also read that July 1 was the effective date of Basel III as far as the Fed was concerned, but I don’t have confirmation of that.
Reports say that on July 15 the Iraqi Stock Exchange (ISX) linked to the NASDAQ in America for the first time, so that people in Baghdad's "Green Zone" could trade in America and, presumably, the other way around as well. It was open for only two hours, they say. The ISX opened in 2004 but was limited to internal trading with Iraqi businesses. It was done with chalk on blackboards, and even now, trading is limited to 4 hours a day, 3 days a week.
They went electronic back in 2009, but were still unable to link up with international exchanges. Since the UN allowed Iraq out of Chapter VII and placed them in Chapter VI, Iraq is now able to do international trading. So, our watch date of July 15 was a very important milestone for Iraq. The next dates to watch would be Friday, July 19th, and Monday, July 22nd. If the revaluation does not occur on either of those dates, it will likely be at least September.