Author Topic: Guru Mnt Goat Article: "ECONOMIST: IRAQ CANNOT TRADE IN LOCAL CURRENCY"  (Read 32 times)

Online arizona49

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10/6/2017  Guru Mnt Goat   Article:   "ECONOMIST: IRAQ CANNOT TRADE IN LOCAL CURRENCY"  Quote:  "IRAQ'S AGREEMENT WITH OTHER COUNTRIES TO TRADE THROUGH THE LOCAL CURRENCY AND ABANDON THE DOLLAR WOULD BE POSITIVE ECONOMIC PAYOFFS..."    WOW! ... “positive economic payoffs” if they abandon the dollar. We know that currently they are forced to use the US dollar due to sanctions which peg the dinar to dollar to stabilize it.  We all know inflation in Iraq is caused now mainly because of the dual currency exchange rates from the buy vs sell rate of the dinar (CBI vs Banks vs street venders) when they are forced to convert to US dollars to pay importers. So in this article they are saying there are advantages to abandoning these sanctions and to stop this practice of converting dinars to dollars for trade and just use dinars. When they do this we go to the bank…This is when we go to the bank and ONLY when we go to the bank!     [PLEASE TAKE COMMENTS POSTED FROM OTHER DINAR SITES AS RUMOR, SPECULATION AND/OR OPINION]