EXCHANGE PROCESS… Remember how the banks operate. They need to make a profit. So what…are they going to do with billions and billions of Iraqi dinar in their foreign currency portfolios of reserve currencies? They will need to sell the currency to someone with a spread to make any money off it. …Also where are they going to get all the funding to make these exchanges? …at this time the banks will already have a customer for the dinar. The US Treasury has already made arrangements with the major/main bank branches to buy all their dinar, if they chose to trade it. So the banks do have a customer and this is why they will be taking the dinar so easily. If it weren’t for this fact there is no way that billions of dinars could be traded and taken into the banks throughout the US by average walk-in citizens.
The answer to this first question is also the answer to the second in that it is the US Treasury that will come around the banks in armored cars, as they do on normal runs, as pick up these physical IQD notes as they come into the banks. Once re-verified by the treasury department, they will be credited back to the banks. The banks will get a set allowance of $$$, probably daily, of funds from the treasury to use for this purpose of collecting these dinars or rather to help facilitate the trade deals. It is normal for the Central bank of the US to allocate funds to the banks for these purposes. Arrangements have been completed for this purpose… …the government must come out with some mechanism to address informing us investors of where to appropriately go to conduct our exchanges of this currency.