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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    What is the deepest reason for the rise in the dollar exchange rate?

    Rocky
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    • Post n°1

    What is the deepest reason for the rise in the dollar exchange rate? Empty What is the deepest reason for the rise in the dollar exchange rate?

    Post by Rocky Wed 28 Dec 2022, 6:36 am

    [size=38]What is the deepest reason for the rise in the dollar exchange rate?[/size]


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    December 28, 2022[You must be registered and logged in to see this link.]
    Baghdad/Obelisk:
    Haitham Khazali
    The most important thing that concerns the Iraqi citizen and the Iraqi government recently is the rise in the exchange rate of the dollar to reach 1600 dinars per dollar, which prompted the Iraqi government to take several measures in order to reduce the exchange rate to 154 thousand dinars per dollar, so what is the reason for this rise?
    Yes, the US Treasury imposed a platform to monitor the currency sale window in Iraq and link it to the (OFAC) system to monitor the movement of imports and check the name of the importer, the beneficiary, and the imported commodity, and this led to the rejection of approximately 40% of cash transfers, although Iraq’s financial situation is very excellent, as it has a balance of $ 100 billion in addition to $ 18 billion for the account of the Ministry of Finance, all of which are in the US Federal Bank.
    But the most important question is why did the US treasury apply these conditions now and without gradation?
    The truth is ((The US Treasury does not have more than $98 billion in cash, according to Bloomberg newspaper)), and this is what Janet Yellen, the US Treasury Secretary, warned about last September, and she asked Congress to raise the government debt ceiling or Dept selling to more than 31%. $4 trillion to enable the government to borrow, as the US government finances its activities without taxes by selling treasury bonds, i.e. borrowing and paying interest, and this situation led to an inflation of the US debt.
    This is the highest US public debt ratio in history, and the reason for the increase in the US public debt for the year 2022 is due to two reasons:
    1- The huge US spending this year, reaching $6.175, six trillion, one hundred and seventy-five billion dollars.
    2- The US Federal Reserve raised interest rates, which amounted to 4.25%, which means higher costs of servicing the US debt, as the United States paid
    $103 million debt service for the month of September, and you only drink the first of this year.
    In this situation, the US government may resort to temporary (exceptional measures) until Congress agrees to lift or suspend the debt ceiling law. lowers its international credit rating or confuses its financial markets.
    The year 1979 was the first time that the United States defaulted on its debts, which led to a 60-point increase in the cost of borrowing service for America.
    In the event that the default is repeated again, the US national product will decrease by 4%, 6 million people will lose their jobs, unemployment rates will rise by 9%, the stock market will lose a third of its value, and American families will lose $15 trillion of their wealth.
    It is expected that the Congress will agree to raise the debt ceiling at the beginning of the year 2023, as it did previously and for more than 100 times.
    Or the American president resorts to the Fourteenth Amendment of the Constitution and borrows without the approval of Congress.
    In both cases, most of the exceptional measures are canceled, which means that the conditions for releasing transfers to Iraq may be eased, and dollar prices will drop again.
    We believe that this economic situation is the real reason for the sudden exceptional measures that led to a rise in the exchange rate of the dollar against the Iraqi dinar.
    Hopefully the next one will be better...
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