9-5-2014 Newshound Guru Breitling

 9-5-2014   Newshound Guru 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…  [Post 1 of 2 stay tuned for the rest of the story…]