In Pimpy

We personally do not exchange our currency with Iraq.  What happens is if the sanctions are lifted, they revalue the currency, we take our currency down to our banks, we exchange the Iraqi dinar for US dollars…If that bank…buys and sell foreign currencies they would keep it on their books as an asset.  If they turn it over to the Federal Reserve then the Federal Reserve would be dealing with Iraq as far as swapping the US dollar for the Iraqi dinar but most banks are going to keep it on their books.    [Post 1 of 2….stay tuned]