Stop playing the dollar and stop insulting the dinar WOW!

Stop playing the dollar and stop insulting the dinar WOW!

3-14-2023

Khalil Ibrahim Al-Obeidi
Some believe that the occupation stands behind the decline of many economic constants and financial dispositions that were in violation of the rules and principles of import or the controls and principles of Iraqi government exchange followed by each in its field of competence. This falsehood of financial and economic actions is the responsibility of those who came with the occupier, harmonized with his instructions, or continued to enjoy implementing Bremer’s destructive decisions, starting from open imports, through destroying the public sector and strangling the private sector, all the way to the heresy of the currency auction that was behind all this material and moral collapse of the country. It was also and still is an effective factor in financing terrorism and an encouragement to launder money looted from state coffers (with distorted import soaps), which came with spoiled goods and in violation of Iraqi and international standards.

The central bank with a long past should have been a faithful factor to return the country to the sound economic track and gradually remove it from the distorted economy of the totalitarian state to the state of the directed economy, in other words, to move it towards the economy of the state of social justice, by controlling the rhythms of this economy by controlling the price Interest, working to zero the currency since Iyad Allawi’s ministry, where the new currency was issued, returning to adjusting import rhythms and not expanding by opening private banks, but rather gradually expanding the powers of the three government banks and working as much as possible to return to the import documentary cycle even after a while, and not Listening or yielding to the demands of economic illiteracy or the existing automatic trade operations without restrictions between the foreign supplier and the Iraqi importer, which relied mainly on the unrestricted transfer offices.

remunerative for the establishment of large projects) Thus, the industrial, commercial, agricultural and tourist companies of the state used to fill the consumer need and the deficit was financed through import, and under regulated import licenses and classified according to the social relative importance of this or that commodity by the Ministry of Commerce and under a reasonable database at the time and under pricing according to supply and demand in The global market, and thus the number of public sector companies reached approximately 300 public companies before the fall, and most of them are profitable, and those that did not profit were covering operating expenses, salaries and wages. The General Company for Materials Trading, for example, in 1987 as a whole, transferred the amount of 160 million dinars from its annual surplus profits to the Ministry of Finance, and the price of one dinar at that time was 3.3 US dollars, or approximately 500 million dollars, as well as the profits of the General Motors Company or iron, wood etc.

With this introduction, we wanted to say that the state’s continuous manipulation of the price of its dinar (which is a sovereign value) and in this humiliating manner is a sign of ignorance in the study of money and banking that every beginner in the science of economics learns, and also indicates a lack of patriotism, and the currency auction is only a path that led us to We know its limits now, but we may not know any limits in the future, and it is better today for the Central Bank to return to its previous era, the Bank of Banks, the Clearing Bank, whose objectives are to adjust the rhythms of the economy, control the interest rate, defend or preserve the real value of the national currency in circulation, and work as much as possible To zero the currency and make the price of one dinar one dollar, to leave the currency auction and gradually return to the import process used before the year 2003, and to adopt discreet correspondent banks according to SWIFT mechanisms, and to think seriously and social cost accounts of the fate of the public sector and its idle companies, and to coordinate with the Ministry of Commerce to set import priorities according to of the relative importance of eachCommodity and stopping the import of cars for a period, and stopping the import of non-essential and recreational goods or merchandise such as fireworks or games and goods that can be easily and quickly produced locally.

Iraq is a productive country and its people despite what is known about some of its segments of productive laziness, but what happened to us made us feel deliberate negligence towards the soul and punished it in a narcissistic way, and let us go back and say as Gibran Khalil Gibran said, woe to a nation that eats what it does not grow, wears what it does not weave, and drinks Of what you do not squeeze, and I go back to saying stop insulting the dinar and stop the game of the dollar and its auction and restore Iraq’s prestige, and stop all these dreams and Halim is enough for the thumbs up …

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