Pimpy

  In Pimpy's Investment Chat 

Article:  “About a billion dollars in bank sales in a week”  Nice.  This is the auctions that they’re talking about.  They could just add that much more to the reserves.  The auctions – what happens is…the oil is sold in petrol dollars (United States dollars)…then the oil company takes those dollars and gives them to the banks, the banks then auction them off to other countries who pay in their own currency, then Iraq Central Bank takes money from those sales and adds it to the reserves.  The stronger the reserve the more they can secure their own economic strength as well as strengthening the Iraqi dinar…

Tags: , , /