Center Economist: U.S. debt crisis would hurt the Iraqi economy in terms of lower world oil prices

 Center Economist: U.S. debt crisis would hurt the Iraqi economy in terms of lower world oil prices

20-10-2013 06:51 AM



Baghdad (news) .. Predicted Prime Media Center Economic Dergham Mohammed Ali, economy is affected by the Iraqi crisis, the U.S. debt, which will lead to lower oil prices in the global oil markets. said Mohammed Ali (of the Agency news): The increase in the U.S. debt will not lead directly to the economic recession, but the closure of government impact one way or another on the income of employees who have received permits compulsory without pay, which led to the lack of the sale and purchase of the segmentation is born almost a recession in the U.S. economy. pointed to: that the U.S. economy is the world's largest and is located within an area of the dollar more than (50% ) of the world's economies, including the economies of oil such as economics of Iraq, pointing out that the price of oil and the value of the Iraqi currency is linked to the price of the dollar in global markets and the stability of the price depends on the stability of U.S. markets. continued: that in the event of any impact on U.S. markets, it leads to reduced demand Global oil, the fact that America is the largest importer of oil in the world, and thus lower oil prices around the world. increased: in addition to the damage to the value of the dollar and this will affect the Iraqi economy, especially as it is formatted at the present time to move to link a basket of currencies global difficulty of this approach and the strength of the impact of the dollar in the local market that Iraq of countries subject to the phenomenon of 'dollarization'. / End / 8.'s. m /

http://www.ikhnews.com/index.php?page=article&id=104913

[tlm724] 1.this is saying that by the US shutting down it decreases the income of the citizens thus reducing the demand of oil

[tlm724] 2. 50% of the worlds countries are linked to the USD including Iraq " including the economies of oil such as economics of Iraq"

[tlm724] 3. that the price of oil and the value of the Iraqi currency is linked to the price of the dollar in global markets

[rsp1] But...for how long?

[tlm724] so as the value of our dollar goes down it effects the value of the dinar

[tlm724] the Iraqi currency is linked to the price of the dollar in global markets and the stability of the price depends on the stability of U.S. markets
.
[tlm724] in addition to the damage to the value of the dollar and this will affect the Iraqi economy, especially as it is formatted at the present time to move to link a basket of currencies global difficulty of this approach and the strength of the impact of the dollar in the local market that Iraq of countries subject to the phenomenon of 'dollarization


[tlm724] rsp1 this is saying the IQD is directly linked to the USD

[sisterbreen] tlm724 this don't sound good

[tlm724] their stability at this time depends on our stability of the dollar

[tlm724] sisterbreen no , there is good in here

[tlm724] sisterbreen no we are not broke, we are the richest country in the world the problem lies here let me explain

[tlm724] as long as the IQD is linked to the dollar and the other currencies in the basket those currencies will fluctuate with the dollar

[tlm724] our actions in the US directly affect 50 % of the worlds economies

[tlm724] now how can Iraq regain control of their own currency ? How they can eliminate this fluctuation at least as far as the USD goes?

[tlm724] cybercat got it earlier

[rsp1] Detatch from the USD

[tlm724] yes dedollarize !

[tlm724] so make the IQD the main currency, they agreed to use it in all payments international for all debt and payments remember ?

[rsp1] Yes, I do...

[sisterbreen] tlm724 yes

[rsp1] It would have to be internationally tradable

[tlm724] sisterbreen right so see this is very good news as far as our investment

[sisterbreen] tlm724 tyvm

[tlm724] rsp1 exactly !

[tlm724] sisterbreen yqw




Last edited by tlm724 on Sun Oct 20, 2013 9:41 am; edited 1 time in total

I have to agree, and not just Iraq. I heard an economist put it this way once. If the US economy get's a cold, the rest of the world comes down with pneumonia. With all our problems and debt, the US is still the principle engine driving the economy.

Thanks for contributing Lil Sister.  I like when other members go and get the articles.  Make my job a little easier.