Footforward

  In Footforward

[There’s really no reason that the first currency swap would be at the Program rate just doesn’t make sense.] Actually it does make sense. If you know the dinar is going to revalue and Iraq needs short term help, it makes all the sense in the world to do a swap at the current rate. Iraq gets short term help and America gets more dinar. And once it revalued that’s a huge win for America.