Francis Albert

  In Albert

The only way UST reserves of Dinar are worth anything is over time, lots of time, that they will exchange for oil in the ground. Folks thinking a Dinar up swing in value is going to suddenly make the U.S. rich just don’t understand.  Plus, I believe the deal is for $30 per barrel per Dinar. At this rate, that’s a looser. And if IQD goes up and American’s exchange Dinar at a bank. The UST ends up with the Dinar because the banks will create the dollars to give to us. That’s the only way this thing can work. No where else the dollars can come from.  The IQD is a debt instrument, like all currencies, a note. FED and banks monetize debt, (create dollars) in exchange for the note. Also known as QE.  And the reason the FED will do that is because they get a cut and UST gets the Dinar for “liberating” Iraq…the spoils of war.  And UST sucks Iraqi oil in exchange for Dinar till the end of time.