Around the end of August I had mentioned my slight optimism for September and greater enthusiasm for October. With October almost halfway over, I'm forced to reign in some of my enthusiasm... but not all. Here's my latest thoughts:
2. On the topic of oil prices, Iraq is very much involved in the recent OPEC movement to control production and get the prices moving back up. As of Monday, oil hit $53... The head of BP says he is expecting $55-70 coming soon. This stuff isn't written in stone, but it's certainly a good indication of the efforts being taken, and Iraq will certainly gain confidence as a result.
4. But, to get to my reason for reigning in *some* of my optimism for this month... we still don't have an HCL or much news about it's implementation. It's great that Oil is going the right direction. It's awesome to have the IMF praising them, it's fantastic that they are making timely progress on the 2017 budget, but... without that HCL, I have to go back to "cautiously optimistic" at this time. On a more positive note, it's widely believed that the HCL is pretty much done and it's only a phone call away from being published in the Gazette and made official. That could certainly happen any day, even today or tomorrow! But until it's done, or we hear more about it, we remain patient.
Iraqi Dinar Revaluation and Global Currency Reset News | Dinar Chronicles
Courtesy of Dinar Guru