Walkingstick
The main reason why they're going to float the Iraqi dinar is to build confidence in the country of Iraq. A float brings in these investor that Sudani has been signing left and right.
These investors will watch the float and as the float increases they will say to themselves, 'Hey, maybe I should invest in this currency.' ... The float is to build confidence in the country and in the currency of Iraq.
[Former Iraqi Bank associate and Iraqi bank owner #1 update]
He just left Bagdad...he went to Hong Kong. What for? He's got banks he's representing the CBI with, out there. These satellite banks are everywhere. They want their 3-zeros back. They don't want them to go into anybody's federal reserves.