.Iraq is not responsible for our payouts once the rate hits Forex. Iraq’s foreign reserves are not the payout pool, they are the collateral anchor that gives the new rate structural integrity once the CBI pulls the trigger, and the actual dollar liquidity for the exchange window comes from the U.S. Treasury’s pre-staged currency stabilization fund. The IMF’s special drawing rights reallocation, and the basket of sovereign wealth partners who have already positioned bilateral swap lines for exactly this moment. Iraq is not writing checks to American IQD holders, the FOREX market makers, the primary dealer banks, and the Treasury’s own exchange facilities are the payors, and they are capitalized at a scale that makes Iraq’s reserve balance an irrelevant variable in the payout equation. …the skeptics who scream “Iraq doesn’t have enough reserves to cover a $3.22 RV” are arguing against a strawman payout mechanism that never existed in the first place.
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