2-7-2013 Newshound Guru Doc:   All the hype around the imminent RV continues as hype. Many have tied it to budget passage and we concede it with HCL, Chapter 7, etc are precursors. The issue is some are reporting emphatically the budget will be passed on Thursday. While we wish this were true we awoke to the following release “Baghdad lifted Presidency of the Council of Representatives, on Thursday, the Council meeting of 11 to Saturday, with parliamentary source that the meeting witnessed the vote on the amendment of the law guards nightclubs and postpone the vote and read the seven draft laws, including the federal budget.” This is at least the second or third delay on the budget vote. We continue to council to…let these things happen as they do. Iraq is notorious for delays and no one knows the exact date it will occur. We report, you decide.

2-8-2013 Newshound Guru Kaperoni: (Discussion: I keep reading that the rv/float will only happen when the GOI is stable. If some entities are waiting for Iraq to be “stable” this rv/float will never take place. We can say good bye to this investment. I do agree to the fact that things can get a little better; but it’s the middle-east, stability to them will never be like in the western countries. They better get this thing moving; now is the time.)

Response: IMO, that is why this will free float. Let the market dictate the rate based on Iraq’s performance (or non-performance).