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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


    Vice.. Washington Is Deliberately Using The Dollar As A Political Weapon

    rocky
    rocky
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    Vice.. Washington Is Deliberately Using The Dollar As A Political Weapon Empty Vice.. Washington Is Deliberately Using The Dollar As A Political Weapon

    Post by rocky Tue 24 Jan 2023, 6:32 am

    Vice.. Washington Is Deliberately Using The Dollar As A Political Weapon
    On January 24, 2023
    [rtl]The Independent/- Under pressure from Washington to stem the flow of dollars to Iran, the Iraqi prime minister has called on elite counterterrorism forces, more accustomed to fighting Islamist militants, to tackle dealers smuggling the currency into the Islamic Republic.[/rtl]
    [rtl]The raids in Baghdad, on Saturday, represent an early test for Prime Minister Mohamed Al-Sudani, who took office in October after more than a year of political paralysis, and must now take a very sensitive diplomatic path.[/rtl]
    [rtl]And approved the Federal Reserve (Central Bank of America) in New York stricter controls on international transactions in dollars for Iraqi commercial banks in November.[/rtl]
    [rtl]The move aims to stem the illegal flow of dollars to Iran and put more pressure, along with US sanctions imposed on Tehran's nuclear program and other disputes, making it difficult for Tehran to obtain dollars.[/rtl]
    [rtl]Shiite MP Aqil al-Fatlawi accused Washington of deliberately using the new regulations as a political weapon.[/rtl]
    [rtl]He said, “The Americans are using the strict instructions regarding dollar conversions as warning messages addressed to the Sudanese Prime Minister (Muhammad) so that he remains compatible with American interests. "Action against us may bring down your government," that is the American message.[/rtl]
    [rtl]A senior banking official said the United States had sent a clear message to Iraqi officials: Either stick to the new regulations or the CBI will face fines.[/rtl]
    [rtl]Al-Sudanese relies on Washington's continued good will to ensure that his country's oil revenues and finances are not subject to American scrutiny, and he also needs Washington's help in fighting the Islamic State.[/rtl]
    [rtl]But he came to power with the support of powerful militias backed by Tehran, and thus cannot afford to antagonize Iran.[/rtl]
    [rtl]Baghdad-based political analyst Ahmed Yunis said, “The Sudanese prime minister (Mohammed) faces a complex challenge of how to balance policies with two of Washington and Tehran's fiercest enemies, both countries friends of Iraq at the same time, without taking sides. It is a very difficult task and the Sudanese are walking a tightrope.”[/rtl]
    [rtl]Smuggling networks
    The Islamic Republic needs dollars to stabilize its ailing economy, which has been hit hard by US sanctions imposed since 2018 after then-US President Donald Trump announced his withdrawal from Tehran's nuclear deal with six world powers.[/rtl]

    [rtl]Iran's volatile currency has lost about 30 percent of its value since nationwide protests followed the death of 22-year-old Iranian Kurdish Mahsa Amini on September 16, further isolating the country.[/rtl]
    [rtl]The religious establishment has for years used front companies from Iraq to Turkey to obtain the dollars it needs for international transactions and to fund its agents across the Middle East.[/rtl]

    [rtl]Two advisers to private Iraqi banks who regularly attend meetings with the central bank, who spoke on the condition of anonymity, said Iran receives about $100 million a month from Iraqi traders.[/rtl]
    [rtl]Iraqi security officials under the prime minister's administration reported that they had "compelling evidence" that smugglers were buying large quantities of dollars from the currency markets in Baghdad and smuggling them through border crossings into Iran, particularly since mid-January.[/rtl]
    [rtl]A colonel in the Iraqi border police at the Shalamja crossing near the city of Basra in the south said that dozens of smugglers buy dollars from the currency markets in Baghdad and use school bags to transport them before packing them in four-wheel drive cars to the border, under the protection of armedguards.[/rtl]
    [rtl]Economic price
    Under the new restrictions, Iraqi banks must use an electronic platform to disclose their transactions and details about the sender and beneficiaries. US officials can intercept suspicious transfer requests.[/rtl]

    [rtl]Nabil Al-Marsoumi, an economics professor at Basra University, said the new system has slowed down dollar transactions.[/rtl]
    [rtl]Banking officials said anti-smuggling measures had also left a hole in public finances. Banks that were reluctant to register on the electronic platform resorted to free markets in Baghdad to buy dollars, which created a deficit, as demand exceeded supply.[/rtl]
    [rtl]At the same time, the price of consumer goods has increased and the value of the Iraqi currency has diminished.
    This deepened anti- [You must be registered and logged in to see this link.] sentiment among politicians in Iraq, which remains unstable after nearly 20 years of US-led war that toppled Saddam Hussein.[/rtl]

    [rtl]Trader Jumaa al-Hilfi said the transfer of dollars to Iran and its ally Syria, which is affected by sanctions, also affected Iraq's currency.[/rtl]
    [rtl]The value of the dollar when selling was 1470 Iraqi dinars before the new transportation restrictions set by the Federal Reserve, and the dinar fell in December at 1620 dinars against the dollar before the restrictions began to be applied at the beginning of the week.[/rtl]
    [rtl]And the official news agency said, on Monday, that the Iraqi Prime Minister relieved the governor of the Central Bank of his post after the decline in the value of the dinar. The agency added that Mustafa Ghaleb Makhaif told the prime minister that he no longer wanted to remain in office.[/rtl]
    [rtl]The Prime Minister tried to reassure the Iraqis that [You must be registered and logged in to see this link.] and economy would be safe from US restrictions and regulations.[/rtl]
    [rtl]Al-Sudani said in one of the events, on Saturday, “We have taken a number of bold decisions to support and stabilize the Iraqi dinar, and we warn those who try to exploit the crisis.”[/rtl]
    [rtl]Hadi Ali, an account manager at a private bank in Baghdad, expressed his skepticism about that.[/rtl]
    [rtl]He said, “Following the new American conditions means that we will have to wait for long periods of time in order to be allowed to transfer. This is harmful to our interests... Almost all dollar transfers end up reaching parties linked to Iranian interests. This is not a secret.”[/rtl]
    [rtl][You must be registered and logged in to see this link.]
    [/rtl]

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