March 2003 there was no organic government in Iraq. No laws, no agencies, no nothing.
Anarchy. Seriously, anarchy. (I saw it firsthand)
No one, not the Iraqis nor their neighboring countries would work with the old Dinars.
(What if you had the option of being paid in Soviet Rubles?)
Tell me how a non-existant government can back a currency, ESPECIALLY if that currency carries the image of the deposed leader?
Old currency had Saddam all over it. New currency needed a government to back it. In the mean time the only acceptable currency was the dollar.
Considering that you really don't seem to have any info, knowledge or insight into this situation, I don't understand why you are so argumentative?
How about saying, "We're the occupying force. We consider the existing currency valid." That will do for internal currency purposes. As for the neighboring countries, wouldn't that be better handled by electronic transfers? Why pallet after pallet of hundred dollar bills?
Considering that you really don't seem to have any info, knowledge or insight into this situation, I don't understand why you are so argumentative?
Because those missing billions were made good out of the U.S. taxpayers pockets. And I object on principle to having my pocket picked. Never mind the fact that nobody seems to know how much of that money wound up funding the very people who are killing our troops on a daily basis. Doesn't that bother you just a little?