MikeCristo8
I will add… Iraq is ONLY allowing JPM to come in and help with cross-border currency exchange (trade payment) in non-dollar (for now, till the U.S. RV’s gold), Because JPM is widely recognized across multiple jurisdictions for international currency exchange and because JPM wants a cut of the fees.
But once JPM helps the Dinar become widely interchangeable across the FX Iraq *may kick JPM out, Just like China is shoring up its regional banks into the BIG state-owned banks, BRICS are countries that believe in state control of finance.
Why? Look at where the U.S. capitalist financial system is taking us right now. Over the cliff.