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[size=35][size=35]The Washington Post: Iraqi politicians misused the dollar and stole it from their people[/size]
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2023-02-09 | 01:57
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Alsumaria News - International
The newspaper stated in a report translated by Alsumaria News: “For more than a decade, Iraqi politicians have abused their easy access to the US dollar to steal from their people on a historical scale. Even more dangerous, successful Iraqi governments have colluded with[You must be registered and logged in to see this link.]'s[url=https://www.alsumaria.tv/Entity/137439/%D8%A7%D9%84%D8%AD%D8%B1%D8%B3 %D8%A7%D9%84%D8%AB%D9%88%D8%B1%D9%8A %D8%A7%D9%84%D8%A5%D8%B3%D9%84%D8%A7%D9%85%D9%8A/ar/]Islamic Revolutionary Guard Corps[/url], the Iranian Revolutionary Guard, "To circumvent US sanctions and divert billions to fund[You must be registered and logged in to see this link.]'s nuclear program, terrorism, and regional aggression. Until[You must be registered and logged in to see this link.]Cracks down on these activities, Washington must reject any further complicity in what may be the world's largest money laundering scheme—one that puts the American financial system and American lives at risk."
The Washington Post added, “The dinar crisis began last November after the[url=https://www.alsumaria.tv/Entity/45068/%D8%A7%D9%84%D9%88%D9%84%D8%A7%D9%8A%D8%A7%D8%AA %D8%A7%D9%84%D9%85%D8%AA%D8%AD%D8%AF%D8%A9 %D8%A7%D9%84%D8%A3%D9%85%D8%B1%D9%8A%D9%83%D9%8A%D8%A9/ar/]United States[/url]imposed more due to diligence on foreign transactions served by Iraqi banks. Since then, up to 80% of transactions reviewed by the Reserve Board have been rejected.[You must be registered and logged in to see this link.], which greatly restricted[You must be registered and logged in to see this link.]'s access to the dollar, which led to a steady decline in the value of the dinar. At the heart of the scam is a mechanism run by the Central Bank of[You must be registered and logged in to see this link.]known as (dollar auction).[url=https://www.alsumaria.tv/Entity/45068/%D8%A7%D9%84%D9%88%D9%84%D8%A7%D9%8A%D8%A7%D8%AA %D8%A7%D9%84%D9%85%D8%AA%D8%AD%D8%AF%D8%A9 %D8%A7%D9%84%D8%A3%D9%85%D8%B1%D9%8A%D9%83%D9%8A%D8%A9/ar/]United States[/url]In 2004 to allow Iraqi banks access to dollars at preferred rates to fund much-needed imports.
The report indicated that "the dollars come from an Iraqi account at the Federal Reserve Bank in New York through which the large oil revenues are directed to[You must be registered and logged in to see this link.], but it did not take long for Iraqi politicians,[You must be registered and logged in to see this link.]and other bad actors to spoil the process using their control of Iraqi banks and border authorities, a network of front companies, and forged documents, soon made massive transactions in dollars counterfeit the norm, as import costs were outrageously inflated.Often, transactions were done on paper only—no goods arrived in[You must be registered and logged in to see this link.], while millions were transferred. dollars into obscure foreign accounts.
And the newspaper continued: “Unfortunately, the US government has long known about these abuses. Since 2012, a special inspector general at the[You must be registered and logged in to see this link.]has indicated that up to 80% of dollar auction sales are related to illegal transactions being diverted offshore. In 2015, Washington restricted Dollars temporarily flowed in to halt transfers, but they died down when[You must be registered and logged in to see this link.]protested and agreed to cosmetic reforms. In 2020, reporter[url=https://www.alsumaria.tv/Entity/458491264/%D8%B1%D9%88%D8%A8%D8%B1%D8%AA %D9%88%D8%B1%D8%AB/ar/]Robert Worth[/url]writes the definitive account of how the Iraqi state continues to function as a giant money-laundering concern, with a dollar auction at its core.
The report stated: "Because of their continued concern about[You must be registered and logged in to see this link.]'s stability, US officials have generally looked the other way rather than risk plunging[You must be registered and logged in to see this link.]into crisis by limiting access to its vast dollar reserves. But the price has been high.[You must be registered and logged in to see this link.]Today is one of the world's most corrupt countries and its people." Poor. Tens of billions of dollars have also poured into[You must be registered and logged in to see this link.], funding the malign behavior of one of America's most dangerous adversaries."
The newspaper pointed out, "It is impossible to know the full extent of the damage, but the initial numbers are staggering. Over the past decade, dollar auction sales seem to have averaged about $200 million a day, or $1 billion a week." Evidence from the[You must be registered and logged in to see this link.]agrees. In 2012 and the Federal Reserve today, the vast majority of it has been continually diverted for illicit purposes, with the IRGC the main beneficiary.In Worth's 2020 revelations, experts estimate that the total amount of money left abroad could be as high as $300 billion . For the specified amount, it is possible that the Iraqi people have been robbed of their national wealth more than any country in history.
And Washington stated: “With[You must be registered and logged in to see this link.]forced to go nuclear and its killer drones killing innocent people in Ukraine, the Biden administration - to its credit - has gone further than its predecessors in demanding at last an end to the hemorrhaging of the Iraqi dollar to[You must be registered and logged in to see this link.]. The question now is whether it can sustain this. The situation is in the face of[You must be registered and logged in to see this link.]He cries for relief. According to the newspaper report.
However, the newspaper added, “One point is worth emphasizing: conservative[url=https://www.alsumaria.tv/Entity/314357766/%D8%A7%D9%84%D8%A8%D9%86%D9%83 %D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A %D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A/ar/]Central Bank of Iraq[/url]the new,[url=https://www.alsumaria.tv/Entity/3904486869/%D8%B9%D9%84%D9%8A %D8%A7%D9%84%D8%B9%D9%84%D8%A7%D9%82/ar/]On the relationship[/url], will join the delegation this week's visit[You must be registered and logged in to see this link.]. Al-Alaq is no stranger to the job, having held it from 2014 to 2020 during the worst days of auction abuse. It was Al-Allaq who in 2015 persuaded US officials to reverse course and resume the massive influx of dollars by promising reforms that had no effect on the transfer of funds to the IRGC. Alaq returned to the job last month in hopes of making a new show. He again promises tougher anti-money laundering efforts if the Fed brings the faucet of unfettered dollars back in. The
American report concluded: “As the saying goes, Fool me once, shame on you; Fool me twice, shame on me. This time when the relationship comes to call, I must[You must be registered and logged in to see this link.]To stay on the line until you know for sure that the Iraqi lifeline to the IRGC has been severed forever."
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2023-02-09 | 01:57
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2,091 views
Alsumaria News - International
The Washington Post published a detailed report on the causes of the dollar crisis in Iraq, how America behaves with its national currency, and who benefits most from dollar smuggling operations.
The newspaper stated in a report translated by Alsumaria News: “For more than a decade, Iraqi politicians have abused their easy access to the US dollar to steal from their people on a historical scale. Even more dangerous, successful Iraqi governments have colluded with[You must be registered and logged in to see this link.]'s[url=https://www.alsumaria.tv/Entity/137439/%D8%A7%D9%84%D8%AD%D8%B1%D8%B3 %D8%A7%D9%84%D8%AB%D9%88%D8%B1%D9%8A %D8%A7%D9%84%D8%A5%D8%B3%D9%84%D8%A7%D9%85%D9%8A/ar/]Islamic Revolutionary Guard Corps[/url], the Iranian Revolutionary Guard, "To circumvent US sanctions and divert billions to fund[You must be registered and logged in to see this link.]'s nuclear program, terrorism, and regional aggression. Until[You must be registered and logged in to see this link.]Cracks down on these activities, Washington must reject any further complicity in what may be the world's largest money laundering scheme—one that puts the American financial system and American lives at risk."
The Washington Post added, “The dinar crisis began last November after the[url=https://www.alsumaria.tv/Entity/45068/%D8%A7%D9%84%D9%88%D9%84%D8%A7%D9%8A%D8%A7%D8%AA %D8%A7%D9%84%D9%85%D8%AA%D8%AD%D8%AF%D8%A9 %D8%A7%D9%84%D8%A3%D9%85%D8%B1%D9%8A%D9%83%D9%8A%D8%A9/ar/]United States[/url]imposed more due to diligence on foreign transactions served by Iraqi banks. Since then, up to 80% of transactions reviewed by the Reserve Board have been rejected.[You must be registered and logged in to see this link.], which greatly restricted[You must be registered and logged in to see this link.]'s access to the dollar, which led to a steady decline in the value of the dinar. At the heart of the scam is a mechanism run by the Central Bank of[You must be registered and logged in to see this link.]known as (dollar auction).[url=https://www.alsumaria.tv/Entity/45068/%D8%A7%D9%84%D9%88%D9%84%D8%A7%D9%8A%D8%A7%D8%AA %D8%A7%D9%84%D9%85%D8%AA%D8%AD%D8%AF%D8%A9 %D8%A7%D9%84%D8%A3%D9%85%D8%B1%D9%8A%D9%83%D9%8A%D8%A9/ar/]United States[/url]In 2004 to allow Iraqi banks access to dollars at preferred rates to fund much-needed imports.
The report indicated that "the dollars come from an Iraqi account at the Federal Reserve Bank in New York through which the large oil revenues are directed to[You must be registered and logged in to see this link.], but it did not take long for Iraqi politicians,[You must be registered and logged in to see this link.]and other bad actors to spoil the process using their control of Iraqi banks and border authorities, a network of front companies, and forged documents, soon made massive transactions in dollars counterfeit the norm, as import costs were outrageously inflated.Often, transactions were done on paper only—no goods arrived in[You must be registered and logged in to see this link.], while millions were transferred. dollars into obscure foreign accounts.
And the newspaper continued: “Unfortunately, the US government has long known about these abuses. Since 2012, a special inspector general at the[You must be registered and logged in to see this link.]has indicated that up to 80% of dollar auction sales are related to illegal transactions being diverted offshore. In 2015, Washington restricted Dollars temporarily flowed in to halt transfers, but they died down when[You must be registered and logged in to see this link.]protested and agreed to cosmetic reforms. In 2020, reporter[url=https://www.alsumaria.tv/Entity/458491264/%D8%B1%D9%88%D8%A8%D8%B1%D8%AA %D9%88%D8%B1%D8%AB/ar/]Robert Worth[/url]writes the definitive account of how the Iraqi state continues to function as a giant money-laundering concern, with a dollar auction at its core.
The report stated: "Because of their continued concern about[You must be registered and logged in to see this link.]'s stability, US officials have generally looked the other way rather than risk plunging[You must be registered and logged in to see this link.]into crisis by limiting access to its vast dollar reserves. But the price has been high.[You must be registered and logged in to see this link.]Today is one of the world's most corrupt countries and its people." Poor. Tens of billions of dollars have also poured into[You must be registered and logged in to see this link.], funding the malign behavior of one of America's most dangerous adversaries."
The newspaper pointed out, "It is impossible to know the full extent of the damage, but the initial numbers are staggering. Over the past decade, dollar auction sales seem to have averaged about $200 million a day, or $1 billion a week." Evidence from the[You must be registered and logged in to see this link.]agrees. In 2012 and the Federal Reserve today, the vast majority of it has been continually diverted for illicit purposes, with the IRGC the main beneficiary.In Worth's 2020 revelations, experts estimate that the total amount of money left abroad could be as high as $300 billion . For the specified amount, it is possible that the Iraqi people have been robbed of their national wealth more than any country in history.
And Washington stated: “With[You must be registered and logged in to see this link.]forced to go nuclear and its killer drones killing innocent people in Ukraine, the Biden administration - to its credit - has gone further than its predecessors in demanding at last an end to the hemorrhaging of the Iraqi dollar to[You must be registered and logged in to see this link.]. The question now is whether it can sustain this. The situation is in the face of[You must be registered and logged in to see this link.]He cries for relief. According to the newspaper report.
However, the newspaper added, “One point is worth emphasizing: conservative[url=https://www.alsumaria.tv/Entity/314357766/%D8%A7%D9%84%D8%A8%D9%86%D9%83 %D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A %D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82%D9%8A/ar/]Central Bank of Iraq[/url]the new,[url=https://www.alsumaria.tv/Entity/3904486869/%D8%B9%D9%84%D9%8A %D8%A7%D9%84%D8%B9%D9%84%D8%A7%D9%82/ar/]On the relationship[/url], will join the delegation this week's visit[You must be registered and logged in to see this link.]. Al-Alaq is no stranger to the job, having held it from 2014 to 2020 during the worst days of auction abuse. It was Al-Allaq who in 2015 persuaded US officials to reverse course and resume the massive influx of dollars by promising reforms that had no effect on the transfer of funds to the IRGC. Alaq returned to the job last month in hopes of making a new show. He again promises tougher anti-money laundering efforts if the Fed brings the faucet of unfettered dollars back in. The
American report concluded: “As the saying goes, Fool me once, shame on you; Fool me twice, shame on me. This time when the relationship comes to call, I must[You must be registered and logged in to see this link.]To stay on the line until you know for sure that the Iraqi lifeline to the IRGC has been severed forever."
[You must be registered and logged in to see this link.]
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