[ April 22, 2024 ]
Diminishing American power. The move away from the dollar (and petrodollar for oil sales) is gaining momentum in the wake of the Biden’s catastrophic foreign policies.
And to think…..all that blood and treasure.
Iraq To Drop Dollar In Trade With China
By ZeroHedge, February 23, 2023:
- Iraq’s central bank is set to allow trade with China to be settled in yuan.
- Iraqi imports from China have previously been financed in U.S. dollars.
- Last year, US regulators began enforcing controls on transactions by Iraqi commercial banks which caused a dollar shortage in Iraq.
The Iraqi central bank announced Wednesday that, for the first time, it plans to allow trade from China to be settled directly in yuan instead of the US dollar to improve access to foreign currency.
“It is the first time imports would be financed from China in yuan, as Iraqi imports from China have been financed in (US) dollars only,” the government’s economic adviser, Mudhir Salih, told Reuters.
Story continues below advertisementAccording to a statement released by the Iraqi central bank, carrying out transactions in the Chinese currency would boost the balances of Iraqi banks with accounts with Chinese banks. However, this option depends on the size of the central bank’s yuan reserves.
A second option to boost local banks’ yuan balances would involve converting US dollars held in the central bank’s accounts with JP Morgan and the Development Bank of Singapore (DBS) to yuan before paying the final beneficiary in China……
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6 Comments
1 year ago
Many countries seem to be getting away from using the dollar. The NWO is trying to change the world to a digital currency, which will allow the corrupt government to control the people, what they buy, when or if they can buy it. It will affect what we eat and where and when we can travel.
D
D
1 year ago
That is not a great loss.
1 year ago
Joe Biden and those who uphold this useful idiot of theirs, Biden, in power in the Oval Office of the White House , who hate America and love Red China are responsible for the terribly high cost of gas and groceries with his constant socialist meddling and interfering in the American free enterprise system is only harming America and the American people.
Likewise “President” pretender Biden when he shut down the Northern oil pipeline industry causing many American workers to lose their much need jobs is a disaster but to make this terrible situation even worse this results to two awful related things.
It made the United States once against dependent on foreign oil and likewise this added to the already rising prices fuel at the gas station.
That subversive horrible Biden and those “behind the curtains.” Who uphold their stooge in the Office of the US Presidency must have insidious sinister subversive intentions.
They have Biden as their tool for the degradation and debasement of the United States in the Red/Green agenda.
They are a dangerous as they are also despicable.
D
1 year ago
We spent trillions and thousands of lives in iraq and it’s time to give them the boot!!!!
