[Iraq boots-on-the-ground report] FIREFLY: Channel One says Iraq needs half of the existing exchange companies and banking needs to be rehabilitated. FRANK: Yes they’re shutting them down left and right…they’re selecting which ones they will give licenses back to because they will need many money exchangers when the rate goes up inside of Iraq because they…will bring in their 3-zero notes and exchange them for the lower denoms because the lower denoms will be more powerful than the 3-zero notes and IMO more powerful than the American dollar. Mark my word.
