Breitling
Community Comment: "Obviously Iraq wants and is expanding their markets. The currency swaps with all these other countries are something new...Why now? Why would a country wish to participate with Iraq in a currency swap? For a currency worth 1/10th of a penny unless you saw the future of the dinar?"
Bingo. Not just the future of the dinar, it's the future of the market that's inside of Iraq. The reason you're seeing the tempo of the currency swaps inside of Iraq is because they're pulling all the currencies out that are competing with the local currency, which is Iraqi dinar. From the local markets they're trying to pull every currency out - Euro, Dollar, it doesn't matter. They're pulling it all out. You can only use the Iraqi dinar. This is very very good news for us that this is happening...
For Iraq it's not a question if more dollars are coming into Iraq, it's do the average citizens have access to them. That's what they're trying to fight...They want to take the dollar out so the supply times velocity of the dinar goes up.