Iraq, the IMF, and the World Bank
When a nation switches over to gold/asset-backed currency, the IMF and the World Bank would no longer be relevant to them as those institutions are part of the fiat world that they would no longer be part of.
Iraq is preparing to announce to the world how much gold their currency is worth, like Qatar and then Turkey did already, both with a rate of 1 gram. The current grumblings from the IMF and the World Bank mean diddley-squat to Iraq.
I expect within hours of Iraq going gold/asset-backed America would also go gold/asset-backed, and the dominoes would start to fall with other nations declaring gold/asset-backed currencies as quickly as they can, perhaps even all on the same day. Will this happen in what remains of this long weekend?
The above would immediately give us the relative exchange rates between the nations that switched to gold/asset-backed currencies. These rates would be what we should expect when we exchange, as to think that we deserve higher rates because we are “special” smacks of spoiled child syndrome. However, if we are offered higher rates by being members of the T4b (internet) group, I would not turn them down! TJ