Question: “Are banks going to have enough funds to swap us out? Is it funded by banks?”
Jeff: No, it’s not. It’s a currency swap. You’re exchanging or trading Iraqi dinars into US dollars. Now, your bank or financial broker…where you exchange is not going to give you US dollars… They’re going to virtually deposit the dinars into your bank account in the form of US dollars…It’s not funded. Banks don’t need to have funds to swap us out. You’re going to turn in dinar and you’re going to exchange your dinar for whatever the dollar value is and they’re going to virtually deposit that into your account. They don’t need the funds to do it.
