They replied, if you could. The justifications for raising the dollar’s price are invalid, and this is our response
They replied, if you could. The justifications for raising the dollar’s price are invalid, and this is our response
2021-03-23
Muhannad Al-Atabi
After the many discussions about the issue of raising the price of the dollar, and after voices aroused here and there defending the increase in the price of the dollar, I put before the eyes of the public opinion and those interested in following the merits of this issue a set of debates that nullify the justifications for raising the price of the dollar:
First:
Supporters of raising the price of the dollar claim that raising the price of the dollar contributes to encouraging and protecting the national product
* Here I say:
In the market system there are two pillars: the producer and the consumer, and any decision or law must take into account these two pillars, but rather that the consumer is the subject of service in the first place, and it is the one whose decisions and laws come to serve him.
And the increase in the price of the dollar is very clear that it has caused great harm to the consumer.
Secondly:
Supporters of raising the price of the dollar claimed that raising the price of the dollar would protect the national product from harassment of imported products that harass it in the market.
* Here I say:
Observers of the prices of national products finds that they are constantly increasing, reaching some of them more than 200%, as is the case with table fat (oil), as well as the increase in local sugar (thanksgiving) by 40%, as is the case with cheese, meat, eggs and foodstuffs in general.
Third:
Supporters of a dollar price increase claim that the dollar’s appreciation was due to lower oil prices
* Here I say:
Oil decreased for less than 60 days and returned to increase three times its price when it declined, and the sixty days were replaced by a surplus that forces a decline of more than 200 days with the continued rise in its prices to exceed or exceed in April the price of $ 70 per barrel of oil.
Fourth:
Supporters of raising the price of the dollar claimed that raising the price of the dollar would undermine the power of those with big money, especially the parties that inflate financially crazy so that the citizen can recover
* Here I say, with all astonishment and astonishment:
I do not know how they allowed themselves the proponents of raising the price of the dollar this justified, since everyone knows that the dollar is one of the assets of the owners of large funds and that the citizen has his financial assets are the Iraqi dinar (contiguous to the conversation, I say balances where the reality is that the simple citizen does not have a balance, but he has daily expenses that come from the incoming Daily or monthly)
With the rise in the price of the dollar, the service will be clear and free of charge for the owners of big money before severe harm to the citizen who owns the dinar, and with a simple calculation, the owner of one million dollars has gained 250 million dinars from the high price of the dollar.
And a citizen who owns 10 million dinars, for example, loses 2.5 million and a half million because of the increase in the price of the dollar
This is with a decrease in the purchasing value of the citizen by 25%, which may be negatively increased in the future.
Fifthly:
Supporters of a dollar increase claim that raising the price of the dollar will contribute to raising the balance of the central bank
* Here I say:
Yes, the balance of the central bank will increase, but this increase will be in the local monetary mass, meaning the balance in the Iraqi dinar will rise. As for the hard or foreign currency, it will not increase
A healthy and beneficial rise is made by increasing the balance of hard currency, such as dollars or gold, and others
And if the central bank wanted to raise its dinar balance, it could print an Iraqi monetary block according to ratios that balance its dollar imports, thus achieving the purpose of raising the dollar’s price without going to raise its price.
Sixth:
Supporters of raising the price of the dollar claimed that raising the price of the dollar would contribute to strengthening and strengthening the Iraqi dinar in the world
* Here I say:
Amazing and strange this justification, which if his claim is true, the ignorance of his claimants is true.
In fact, the rise in the price of the dollar has destroyed the Iraqi dinar and weakened it by more than 25%.
Seventh:
Supporters of the dollar’s price increase claimed that they were embarrassed by the Iraqi street, as well as embarrassed by the results of this ignorant blind decision.
* Here I say:
This justification confirms the people’s admission of the mistake of the decision to raise the price of the dollar
But the strange and strange thing is that the pride by mistake prompted them to justify keeping the high price of the dollar because of their fear of a delay in the budget, and this is an explicit fallacy for several reasons that deny this claim, including that we are today in front of eight months of the fiscal year where four of them have passed
Restructuring the budget on the old price of the dollar will only delay the budget by ten days
A delay of ten days is better than damaging years to come
In fact, with one formula, the budget can be deducted in one day, whereby expenditures are reduced equally by the value of what will decrease in the dollar.
Yes, we will be facing necessary adjustments here and there, so we said that ten days could be sufficient for these treatments.
These are brief responses to what proponents of a dollar appreciation claim
If there are other justifications, we are ready to discuss them scientifically and impartially.
And the God of the intent behind
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