Early Thursday AM Iraqi News 3-24-22
Early Thursday AM Iraqi News 3-24-22
The Dependence Of The Dollar ... And The Collapse Of The Iraqi Economy!
Samir Daoud Hannoush
The Chinese-Saudi rapprochement, which showed its signs a while ago through military agreements in the field of armament and the demands of this Gulf country for Beijing to supply it with long-range missile and defensive naval weapons away from the American arsenal that used to meet most of the needs of this Gulf country, it seems that the aspects of this rapprochement and cooperation will expand and expand.
Its areas include economic agreements and alliances that ultimately lead to political and regional understandings, especially after China’s intention to agree to buy Saudi oil in the Chinese yuan, an economic indicator with political dimensions that shows Saudi Arabia’s intention to move away from the hegemony of the US dollar and the possibility of it being affected by political events and international positions.
At the same time, it relies on diversification in Sources of cash for the sustainability of a stable, secure economy without dependency.Gulf oil against the Chinese yuan, especially after the political and military defeats of America, the maker of the dollar and the world's dominance in this currency.
The seriousness of the situation lies in the countries whose economy is closely related to the dollar and their dependence on that American currency, which penetrated into the joints of their economies, including Iraq, whose successive governments did not think, and throughout those years, to disengage its economy from the restrictions of this currency that wreaked havoc and destruction in the purchasing power of the Iraqi citizen, especially after the decision The government raised the price of the dollar against the local national currency in a reckless decision that only those whose imagination has left patriotism can take.
The Chinese yuan in exchange for Gulf oil is a decision that may find expansion in implementation and action in the coming days in Gulf countries that seek to move away from unipolar dominance in a neutral economic system, but the most dangerous are the rebound strikes that this decision will cause on the Iraqi economy, especially since the alternative decision is absent from economic dependence And an indicator that may announce the beginning of an economic atrophy facing Iraq, which exports its oil in dollars to the extent that it is preferred over its national currency, which means the expectation of a possible economic catastrophe to topple this country, which is already economically collapsed.
Some of those who have practiced neglect, mismanagement, lies and deception will find excuses, justifications and denial for such collapses and keep the Iraqi economy away from the collapse pandemic with naive pretexts, but these forget that any simple reader in the ABCs of the economy realizes that the spark of damage is inevitably coming to Iraq.
From here, whoever controls the upcoming political scene must realize that the economy’s dependence on the dollar, which was produced by political dependence, will inevitably lead the country to collapse and decay that will bring everyone down in its deep valley, and that the diversity of monetary sources and the search for monetary alternatives for countries with a stable currency will remove the character of economic dependence and thus reject Political subordination is the outcome of that policy.
The survival of the monetary value of the dollar at such a high level in Iraq only, and not in other Gulf countries, may be overthrown by other waves of cash that the Gulf countries seek in their commercial dealings, so that the dollar remains a currency of high value and fake in Iraq alone, and this is the economic collapse. https://altahreernews.com/34380/
World Economic System
Tuesday 22 March 2022 202world economic system Alsabaah-126875
Yasser Al-Metwally Two years ago, I wrote an article in one of the newspapers issued in London under the title (On the threshold of a new economic order), in which I expected a breakdown in global economic alliances between the major countries, based on my expectation of what will be left behind by Covid-19, which imposed the need for a new economic system.
Now that the predictions are correct, I mean here the features of this need as a logical result, and that is what the results of the Russian-Ukrainian war will leave behind.
Things are heading towards the need for a new international contract, as the concepts have deviated from their goals. No UN resolutions are useful and no international security council is effective.
We also see and hear about the lack of attention by countries to international (UN) resolutions, not only by the major countries, but also by weak and developing countries as well. Meaning, we need a new social and political contract that regulates relations according to the changes taking place.
This contract is led by the new economic system that we expected in our article to take time, but things are heading for the need to formulate it faster.
There are no superpowers after today as long as they have undermined international resolutions and did not respect them, let alone the weaker countries, and here the language of power (the language of economics) emerges only..
We note the sanctions imposed by the member states of the Security Council on Russia to discourage it from its goals (regardless of its eligibility or not, this is not our business) as the member states face the same logic and penalties. Who is being punished who, we don't know?! No matter how powerful any country in the world has in terms of economic nuclear combat, it must be subject to the will of the peoples to achieve their destiny, and the fears of a certain annihilation if countries are forced to use nuclear because it is the black page for this behavior.
This harsh lesson imposed by the immediate circumstances in dealing with disputes calls on the countries of the world to a real review of the facts of things and deal according to the requirements of survival as an alternative to annihilation.
This difficult labor that the world is facing requires contemplation of a new economic system that is far from arrogance, domination and control over the fate of countries, but based on the exchange of interests and coexistence in peace and security, and a return to the (commodity barter) system. Give me water, give you oil, give me rice, give you technology, and so on.
There is no place for the logic of force and wars after all the tragedies that have befallen the world, but force in dealing rationally, and enough is enough for people of the evils of war.
The conclusion that we came out with is the imminent collapse of the global economic system with all its theories, just as the international contract that defined international relations has collapsed. ?.
For the 5th day in a row, dollar prices are witnessing stability in local markets
Economie| 09:56 - 03/24/2022 For the 5th day in a row, dollar prices are witnessing stability in local markets
Baghdad - Mawazine News The dollar exchange rates witnessed stability, today, Thursday, for the third consecutive day in local markets throughout Iraq. Prices:
Baghdad Sale 147.750 dinars Buy 146.750 dinars
North Sale 147.750 dinars Buy 146.750 dinars
South Sale 147.750 dinars Buy 146.750 dinars
End 29/92 https://www.mawazin.net/Details.aspx?jimare=188232
A Noticeable Rise In Gold Prices (Iraqi And Foreign) In The Local Market
Economie| 11:11 - 03/24/2022 Baghdad - Mawazine News Today, Thursday, the prices of "foreign and Iraqi" gold witnessed a significant increase in the local markets.
And one of the gold dealers told / Mawazine News /, “Gold prices in the wholesale markets in the capital Baghdad recorded this morning, the selling price of one weight of 21 karat of Gulf, Turkish and European gold amounted to 397 thousand dinars, and the purchase price was 393 thousand, after selling prices were recorded Yesterday, Wednesday, 393 thousand dinars per weight.
He added, "The selling price of one 21-carat weight of Iraqi gold, also recorded a rise at 357 thousand dinars, while the purchase price reached 353 thousand."
He explained, "The selling price of a 21-carat Gulf gold weight ranges between 395 thousand and 405 thousand dinars, while the selling price of an Iraqi gold weight ranged between 350 thousand and 360 thousand dinars." Ended 29 / 92 https://www.mawazin.net/Details.aspx?jimare=188241
Oil Futures Drop After Some Refuse To Boycott Russian Energy
Economy News _ Baghdad Oil prices fell, on Thursday, after a series of consecutive gains over the past two days as traders weighed disruptions to additional supplies after reports of storm damage to the system of a major export terminal on the Black Sea, but the reluctance of some European countries and others' rejection of a US decision to boycott Russian energy limited Height.
Brent crude futures fell by about 35 cents, or 0.29 percent, to $ 121.25 a barrel, and US Brent crude futures fell about 85 cents, or 0.70 percent, to $ 114.08 a barrel by 04:43 GMT.
Oil prices opened this morning with a gain of more than $1, while oil markets jumped more than 5% on Wednesday after reports that crude oil exports from the Caspian Pipeline Consortium (CPC) terminal in Kazakhstan have been completely halted after the storm damage. .
Also boosted by futures contracts, the decline in US inventories and inventories in the United States fell by 2.5 million barrels last week, while stocks of the US Strategic Petroleum Reserve decreased by 4.2 million barrels, according to data from the US Energy Information Administration.
Market participants expected a modest increase in supplies.
Meanwhile, US President Biden will meet with NATO allies Thursday to ban the import of Russian oil and gas, but countries remain divided over that, as an EU ban would require the unanimous approval of all 27 member states.
Europe pays Russia for fossil fuels, Germany, which receives 18% of Russia's gas exports, and Hungary are among the opponents, citing the economic damage an oil embargo would do.
https://economy-news.net/content.php?id=27339
With The Month Of Ramadan Approaching.. An Operations Room Between National Security And Trade To Follow Up On Prices In The Markets
03/24/2022 Earth News/ Today, Thursday, the National Security Agency announced the formation of an operations room with the Ministry of Commerce to follow up the file of prices in the markets.
A statement by the agency stated to Earth News, "The head of the National Security Apparatus, Hamid Al-Shatri, announced the formation of a joint operations room with the Ministry of Commerce to follow up on the file of prices in the markets."
The statement added, "The formation of the operating room coincides with the approach of the blessed month of Ramadan." https://earthiq.news/archives/51537
OPEC Basket Records More Than $116
Economy News _ Baghdad The prices of the OPEC basket of oil rose, today, Thursday, to record more than 116 dollars per barrel.
And the Organization of the Petroleum Exporting Countries stated in a report seen by "Economy News", that "the price of the OPEC basket of thirteen barrels of crude recorded 116.94 dollars per barrel," noting that "the price rose from the previous day by 2.34 dollars, after it recorded 114.60 dollars."
Yesterday, Wednesday, oil prices rose significantly after America's attempt to persuade the European Union to dispense with Russian oil and gas, and also after the disruption of Russian and Kazakh crude exports through the CPC pipeline, which coincided with tight supply and high demand.
The Organization of Petroleum Exporting Countries (OPEC) reference basket consists of the following: Sahara Blend (Algeria), Girasole (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabie Lite (Gabon), Heavy Iran (Islamic Republic of Iran) Basra Al Khafeef (Iraq), Kuwait Export (Kuwait), Es Sidr (Libya), Pune Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Miri (Venezuela).
https://economy-news.net/content.php?id=27345
Kurdish Leader: Parliament Session Is 100% Failure
POLITICIAN 03/24/2022 | 1:20 PM The Information/Baghdad...The Kurdish leader, Hoshyar Abdullah, confirmed on Thursday that the Kurdish parties have reached a dead end regarding the presidency, stressing that the president of the republic will not be formed next Saturday.
Follow the "Al-Maalouma" channel on Telegram... News that does not need documentation. Abdullah said in a statement to the "Information" agency, that "the Democratic Party and the Patriotic Union of Kurdistan have not reached a point of agreement on the personality of the President of the Republic so far," noting that "Saturday's session will not The file of the Presidency of the Republic will be resolved.”
He added, "The parliament session will fail by 100%, and the series of political blockages will continue unless there are meetings and consensus between the political blocs, whether Shiite or Kurdish, except for the next two days."
And Abdullah indicated, "The failure of the parliament session has major repercussions for the country, including delaying the formation of the government and approving the budget, for which the citizen pays." finished/ 25 and https://almaalomah.me/2022/03/24/588936/