9-4-2014 *Breitling

[Vixen]

9-4-2014 *Breitling ~You and I are sitting on dinar for 1 tenth of a penny…if you walk into a bank they will exchange it for 1/10 of a penny…Iraq doesn't need to come up with anything. This isn't a "cash in"…it's an exchange of an equivalent rate. The term "cash in" is NOT correct terminology. Iraq doesn't have to buy back anything…it's a barter exchange. For example--you hold what is essentially a foreign currency reserve…an investment. When you bring it to the bank it goes into their foreign currency reserves and/or it could be exchanged with the UST and sit in their foreign currency reserves. There is NO rule that says Iraq has to exchange for dollars…but do you think they are going to throw away that opportunity to get that dinar back? No. They'll probably exchange it for oil, for gold, for services or whatever and that's how it works. One more scenario……let's say you and I get lucky and it's a huge rate…do you think you're going to go to Bank of America or Chase Bank and ask for 5 million dollars in $100 Bills? They are not going to give you cash! What they are going to do is take your currency and they are going to certify it and then they are going to send it to the Treasury Dept. Then they are going to make sure it's all Kosher and not counterfeit and then they will release the amount into your bank account…it will be electronic at first and then whatever the bank agreement is how it will release it to you.