Financial talk

I read on a website that the Iraq Dinar that started to be printed in 2004 after the new democratical Iraq government was formed is backed by American currency. it stated the ratio was somewhere around 1200 Dinars for every American Dollar. The money was allegedley lent to them by either The United States or the US Federal reserve bank thou it didn't specify with the intentions of giving the economy a boost since the original dinars that were being circulated were worthless since Saddam regime was printing them out like newspapers so much that it inflation devalued it. I thought this made sence because I seen on tv on some show that said that the the 6 main goals that Bush wanted the new Iraq government to do is fund the local governments with atleast 1/4 of funding federal 1/4 aswell and 1/4 to the people and 1/4 for surpulus. 5 get the oil drilling online and back in busness, and 6 have the Iraq oil be sold by the dollar which give more back up for newly printed dinar notes!