Iraq Vows to Close the Dollar Gap
Iraq's deputy PM put his name on a lower street dollar, backed by $3 billion in US cash, while the world watches the vote, the strike talk and the alarms.
Monday, November 2. America votes tomorrow. Three Gulf officials say Washington has told them strikes on Iran could begin the morning after. Over the weekend fake nuclear warnings went out on phones in Ukraine and Russia, shops were looted in Frankfurt, and police went into Poland's top court.
In the middle of all that, Iraq's deputy prime minister made a promise on state media about the dinar. The price on Baghdad's street, Mohammed Ali Tamim said, "will decline and come very close to the official exchange rate." Then he added: "I take responsibility for these words."
In our view the alarms are the distraction.
Today: the vote and the strike, the gap, the weekend, the markets, the switch Wall Street turned on last week, and Baghdad's week.
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