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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


    Currency war rages on, Iraq's economy the biggest loser

    Rocky
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    • Post n°1

    Currency war rages on, Iraq's economy the biggest loser Empty Currency war rages on, Iraq's economy the biggest loser

    Post by Rocky Sun 07 Jul 2024, 4:54 am

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    [size=52]Currency war rages on, Iraq's economy the biggest loser[/size]
    • July 6 20:16

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    Information/Baghdad.. 
    After Iraq opened up to China commercially, Iraq gained a point that is considered the most important, which is dealing in the Chinese yuan, despite its rarity, as Iraq deals in the US dollar when selling its oil abroad. America’s sense of danger forced it to fight international dealings outside the scope of the dollar, in order to maintain its dominance in the economic arena. 
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    More political than economic, two things linked together that enable countries to rule the world in one way or another, and preserving the interests of the government requires malicious policies like those America is currently implementing, without taking into account the economy of the affected peoples like Iraq and others. All of these explanations and more lie in the issue of stopping dealing in the Chinese yuan. 
    *Scaling the economy 
    Speaking about this file, Ali Al-Zubaidi, a member of the Nabni Alliance, considered that the attempt to stop dealing in the Chinese yuan in Iraq’s foreign transactions by the US Federal Reserve is political pressure and a restriction on the Iraqi economy.  
    Al-Zubaidi said in a statement to Al-Maalouma Agency, "America is exerting economic pressure on Iraq to gain political gains," noting that "stopping Iraq's external dealings with the Chinese yuan comes to limit Iraq's economic role and the dominance of the US dollar."  
    He added, "The rise in the dollar price in the Iraqi markets is a result of the Federal Reserve imposing sanctions on transactions in the Chinese yuan and stopping dealing with it," noting that "America is exerting pressure to remain in Iraq for as long as possible."  
    Since the beginning of 2023, the Central Bank of Iraq has issued several decisions aimed at maintaining the stability of the general monetary and economic situation and confronting the risks of fluctuations in the exchange rate of the Iraqi dinar against the US dollar, the most important of which is strengthening the balances of Iraqi banks that have accounts with Chinese banks - in Chinese yuan. 
    *Dinar threat 
    In this regard, economic expert Ahmed Abdul Rabbo said today, Saturday, that stopping dealing in the Chinese yuan will greatly affect the Iraqi economy, while he confirmed that the coming days will witness a significant increase in the price of the dollar against the Iraqi dinar.  
    Abdul Rabbo said in a statement to Al-Maalouma Agency, "Stopping transactions in the Chinese yuan by America through imposing sanctions on the banks dealing with it is a blatant interference in the Iraqi economy and cannot be ignored," noting that "limiting Iraq's transactions in the US dollar strengthens America economically and increases its hegemony over Iraq."   
    He added, "Imposing sanctions and stopping transactions in the Chinese yuan is a political matter more than an economic one," calling on the government to "intervene in this matter because the Iraqi market is full of Chinese goods, and such a decision will raise their prices for the common citizen."   
    Economic expert Nabil Al-Marsoumi had previously stated that Iraq intends to rely on the Chinese yuan for the purpose of trade exchange with China, in addition to the European euro, the Emirati dirham and the Jordanian dinar, as the Iraqi authorities seek to provide other foreign currencies for local dealings in addition to the US dollar. End 25 J
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