[If/when banks exchange…how’s that going to work?]
If they can’t verify the currency by having the right money counters with the right chip in it, what they do is send it to the treasury department to confirm it.
You get a certificate. The treasury department confirms it and that amount is credited to your bank account … they are not going to give you a bunch of cash right there on the spot.
Banks don’t have that type of money to give you that amount of cash. Another Issue people have is.
[“Where are they going to get all this money?”]
It’s an EXCHANGE. So they get your note and you get a US dollar based on the value … so they are not buying your notes.