Bizarre? Now this is bizarre! | Ron Paul 2012 | Campaign for Liberty at the Daily Paul (external - login to view)
Its cash. Iraqi oil is sold on international markets for US dollars. the Iraqis receive payment in $US. The US government is busy printing money to finance their debt, which affects everyone holding $US. But $US circulating in Iraq doesn't create inflationary pressures until this money leaves Iraq. while it circulates inside Iraq, its free money from an American perspective.
Not really. It makes sense. Some of this has to be related to selling Iraqi oil. I doubt Iraqis get to keep all their oil revenue. Iraq oil converted to American dollars and transferred back to Iraq. Meanwhile, this newly printed money doesn't cause inflation in the US until it returns home, which could take years...
If you deposit $1000 into your bank account and EFT it to your other bank account and you withdraw it from that account, is it not cash when you draw it out? If it's not cash, then what is it?