Question: “With the amount of people invested, does Iraq have to have funds to exchange?”
Jeff: They have funds, but do they need to have funds to exchange? You’re asking the question as though this is funded by Iraq. This isn’t funded. It’s a currency swap. You’re trading dinars back into dollars. There’s no funding in this. It’s not based on Iraq
having funds for the exchange. It’s not “funded”…Iraq is not taking our dinar. When we exchange it to our banks or brokers, it’ll go back to our US Treasury and be used as US reserves under Basil III compliance to asset back the US dollar.
