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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

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    It raised the interest rate and withheld its share of the dollar.. Washington is "taking revenge" on

    Rocky
    Rocky
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    It raised the interest rate and withheld its share of the dollar.. Washington is "taking revenge" on Empty It raised the interest rate and withheld its share of the dollar.. Washington is "taking revenge" on

    Post by Rocky Wed 28 Dec 2022, 9:19 am

    It raised the interest rate and withheld its share of the dollar.. Washington is "taking revenge" on the Sudanese government because of China

    22-12-28 08:03:00


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    [rtl]Covenant / special[/rtl]
    [rtl]With the balanced policy implemented by the new government, especially with its turn to China to participate in the reconstruction of Iraq, the US administration began to put pressure on the Sudanese government to confront Chinese expansion in the region by using Washington's cards to put pressure on Baghdad.[/rtl]
     
    [rtl]The first and most important card is the continuous rise in the price of the dollar in Iraq. The Biden administration began pressuring the government of Muhammad Shia’a al-Sudani with the aim of rearranging its cards in the region, after the Gulf countries’ withdrawal from American hegemony and their orientation to the Chinese player, which undermines Washington’s interests in the Middle East.[/rtl]
     
    [rtl]There are frequent accusations in popular and political circles that the United States is working to curb Chinese expansion in the region by preventing Iraq from obtaining its share of the dollar in the Federal Bank, which affected the stability of the currency market.[/rtl]
    [rtl]Independent MP Mustafa Sanad confirmed the foregoing in our report above, as he accused, in a "post" on social media, the United States of causing a rise in the exchange rates of the dollar in the local markets.[/rtl]
     
    [rtl]And Sanad, during his post, indicated that "the dollar's rise in 2021 came because of the US-friendly government for the purpose of preventing the transfer of dollars from Iraq to neighboring countries (Turkey, Iran, Lebanon and Syria) for the purpose of punishing them."[/rtl]
     
    [rtl]And he adds, "The rise of the dollar these days is completely different, as it came because of America itself, without a mediator, and the purpose is to prevent the dollar from entering Iraq in the first place, for the purpose of punishing it lightly, and it is waiting for it at the dialogue table in early 2023 for the purpose of understanding about hot files such as the Iranian file and the Iranian file." Energy, the future of US forces and security agreements.[/rtl]
     
    [rtl]Sanad explains, "The accumulation of foreign currency reserves in the Central Bank of Iraq, which is deposited with the US Federal Reserve, which will exceed $100 billion and is constantly increasing, and it is difficult for Iraq to dispose of this large number. Only America allowed five shipments per month to enter the country."[/rtl]
     
    [rtl]The independent MP, Sanad, stresses that "it is cowardly not to criticize the current government and the current parliament for watching the rise of the dollar and its impact on the people, especially since the current prime minister and the current deputies, including (me), have addressed the dollar file earlier and strongly criticized the rise that occurred at the time, and today." Our tongues are almost mute."[/rtl]
     
    [rtl]He continues, "It is cowardly and inferior not to criticize the negative role of the Americans, to diagnose the colonial role and international extortion, and to prevent the transfer of our money, amid the strange silence of the political leadership."[/rtl]
     
    [rtl]Iraqi government banks have begun selling dollars directly to citizens wishing to buy, as part of a new plan to curb the rise in the exchange rate.[/rtl]
     
    [rtl]A few days ago, the price of the dollar witnessed a significant increase against the Iraqi dinar, as the price of a category of 100 dollars reached more than 154 thousand dinars, while it was previously about 145 thousand.[/rtl]
     
     
    [rtl]And the government-run Rafidain Bank announced the start of selling dollars directly to citizens wishing to travel, according to a specific mechanism, with the aim of pumping as much dollars as possible into the markets.[/rtl]
     
    [rtl]Over the past years, the Central Bank of Iraq has adopted a mechanism to maintain exchange rates by selling the dollar in what is known as the "foreign currency sale window" by selling it "for the purposes of strengthening balances abroad in the form of remittances or credits" or through cash sales.[/rtl]
    [rtl]However, this window was used for fictitious transfers, with the prices of commodities and goods purchased through that window being exaggerated.[/rtl]
     
    [rtl]According to economists, the rise in the exchange rate of the dollar was due to several factors, most notably the imposition of US sanctions on Iraqi banks. This led to a reduction in the sale of foreign currency in the auction by the central bank, which relied on those banks to buy foreign currency, and then sell it to merchants.[/rtl]
     
    [rtl]Economists confirmed that the new government steps will contribute to meeting the domestic demand for the dollar, but there is still a desire for those who own the dinar to buy through the currency sale window, for fear of falling under US sanctions, and this is due to Washington’s control of banks, to know the nature of movements funds.[/rtl]
     
    [rtl]They pointed out the need for the Iraqi Ministry of Trade to purchase goods and pump them into the markets, to force those who enter unofficial goods and obtain dollars in crooked ways to comply with the laws, and then correct the course of the parallel market.[/rtl]
    [rtl]In a decision that is the second of its kind during the year and the highest in more than two decades, as a measure to confront inflation in America, which reached its highest level in 4 decades, the Federal Reserve - the central bank - announced earlier raising the main interest rate on the dollar by half a percentage point - 0.5, rising from 1.25 to 1.75 percent.[/rtl]
     
    [rtl]It is customary for the Council to raise the interest rate by only 0.25 percent, but this time it came with a double increase.[/rtl]
     
    [rtl]The US Central Bank indicated that it would start reducing asset holdings on its $9 trillion balance sheet, in a move considered the most aggressive in the face of inflation of 8.5 percent.[/rtl]
    [rtl]The move to raise the interest rate is considered as a preliminary measure, according to what Jerome Powell, Chairman of the US Federal Reserve, said in his speech about raising the interest rate, indicating that, if there is a need for another decision, it will be discussed in the meetings of the Monetary Policy Committee that will take place. Powell chairs it on the Reserve Board.[/rtl]
     
    [rtl]And the movement of the "US Federal Reserve" about the value of interest on the dollar is highly likely to have effects on the international market and financial movement in the world, in addition to the severe effects that it could have on countries that rely on foreign loans to support their public budgets and cover their fiscal deficits. To pay off its obligations such as the salaries of employees, or the loans that must be repaid, and Iraq is from the Arab countries in particular.[/rtl]
     
    [rtl]Last Monday, Al-Sudani announced the opening of outlets for selling dollars in government banks in order to control the rise in exchange rates.[/rtl]
     
    [rtl]Al-Sudani said, during a press conference, that "there is a clear increase in the exchange rate of the dollar due to the increase in customer requests to the Central Bank, and fake companies inflating prices in order to get the dollar out, in addition to the fact that there are exaggerated prices for remittances."[/rtl]
     
    [rtl]And he stressed, “There is strict control over the issue of dollar exchange,” noting that “the opening of outlets for selling dollars in government banks in order to control the rise in exchange, and the central bank’s reduction of the selling price of the dollar, as well as the diversification of credits and external transfers,” noting that “the financial situation Iraq is in its best condition, and the reserve amounted to 96 billion dollars.[/rtl]
    [rtl]He added, "We have instructed to carry out reforms at the border crossings and customs."[/rtl]
     
    [rtl]The European Union, for its part, entered the crisis line, as it issued a decision to provide a financial grant to Iraq in the amount of four million euros to meet the high cost of living and prices inside the country.[/rtl]
     
    [rtl]The federation said on its official website that "the high food prices, the absence of political stability, climate change and drought, in addition to the Russian invasion of Ukraine, have cast a shadow on many Iraqis, some of whom are now unable to meet their basic needs."[/rtl]
     
    [rtl]"Many Iraqis, especially the displaced, have been greatly affected by the deterioration of food security inside the country. Those who are already facing difficulties in providing it are now suffering more," said the European Union's Commissioner for Crisis Response, Janis Lunsrik.[/rtl]
     
    [rtl]He added, "The European Union is committed to helping Iraqis from the weaker classes, and for this purpose we have allocated four million euros to help them pass through these difficult times." [/rtl]
     
    [rtl]The statement indicated that "the funds will provide basic supplies for about four thousand displaced citizens inside Iraq, whether in temporary camps or who have obtained temporary external residents, in addition to providing assistance to about a thousand other families whose members at least suffer from an intractable or dangerous disease," as he put it. . [/rtl]
     
    [rtl]The currency auction in Iraq remains one of the most ambiguous economic files in the country, which is confirmed by many Iraqi politicians and economists who see it as a drain on hard currency and one of the doors to smuggling stolen or corrupt money, and this was confirmed by Al-Sudani in his recent press conference.[/rtl]
     
    [rtl]Sales of the Central Bank of Iraq, or what is known locally as the currency sale auction, witnessed great turmoil in the past weeks, after the auction witnessed a decline in the sale of currency by between 40% and 50%, which economists see as linked to the rise in the exchange rate of the dollar in the parallel (black) markets. ) Which led to a rise in the exchange rate to more than 1,500 dinars per dollar, at a time when the central bank sells one dollar for 1,460 dinars.[/rtl]
     
    [rtl]The fluctuation of the exchange rate of the dollar on the black market led to the turmoil of the commercial movement in the country, which contributed to the rise in consumer prices, which raises many questions about the reasons for the high exchange rate, and its relationship to the procedures of the Central Bank of Iraq and the prevention of several banks from entering the currency sale auction after warnings from the Treasury Ministry. American.[/rtl]
     
    [rtl]The position of the Al-Sadiqun Parliamentary Bloc was expressed by Representative Ahmed Al-Moussawi, who said that the rise in the price of the dollar is a genocide carried out by America and its proxies in Iraq.[/rtl]
     
    [rtl]Al-Moussawi said in a tweet via "Twitter", followed by Al-Ahed website, today, Monday, that "the rise in the exchange rate of the dollar is no longer only an economic issue, but has become a crime against the poor."[/rtl]
     
    [rtl]He pointed out that "this rise is considered a process of genocide carried out by America and its arms in Iraq by preventing the entry of the dollar into the market as a punishment, because the choice of the government was by Iraqi will, the same government that we expect from it to take a courageous stand and hold the manipulators and accomplices accountable, and not be satisfied with watching and being silent about the economic disaster against the people." ".[/rtl]
     
    [rtl]Meanwhile, a member of the Parliamentary Integrity Committee, Hadi al-Salami, accused the Central Bank of Iraq of failing, blaming it for the economic imbalance in Iraq.[/rtl]
     
    [rtl]Al-Salami said, in a press interview followed by Al-Ahed website, today, Monday, that "the campaign to collect signatures continues to be presented officially, and a special parliamentary session will be held to discuss the management of the central bank on the reasons for the increase in the exchange rate."[/rtl]
     
    [rtl]He added, "The signature campaign reached 38 signatures in light of the legislative recess, leaving only 12 signatures to be formally presented and the extraordinary session to be held," noting that "holding the session is important to stand up on the measures taken by the Central Bank administration in light of the current crisis, which has begun to exacerbate significantly." ".[/rtl]
     
    [rtl]Al-Salami asked: "What is the benefit of the position of the governor of the Central Bank and the administration if they do not have special solutions in light of their refusal to answer the reason for the high exchange rate of the dollar, explaining that it is "confidential information and hidden from the representatives", accusing the management of the central bank of failure and mismanagement by the governor and his council, which led to economic imbalances.[/rtl]
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