Does everybody understand why Iraq uses the USD?
The first couple of days following the US enter Iraq we dumped 100s of billions of USD into Iraq so that they could survive as a country…they had to continue to feed themselves…
and today, because the IQD is not openly accepted on the world market, Iraq uses the USD as its currency.
IMO, we are finally at the point in time when the auctions are going to be reduced because the USD will start to be reduced inside of Iraq and the IQD will be the currency of choice and it is accepted in the world markets.
Of course, with a reduction in the price per barrel of oil…there is less USD flowing into Iraq.
Therefore, less liquidity…
It is quite interesting how so much of these issues have continued to push Iraq in the direction we needed them to go.
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