U.S. Warns Iraq It Risks Losing Access to Key Bank Account if Troops Told to Leave

[F-22Raptor]

The Trump administration warned Iraq this week that it risks losing access to a critical government bank account if Baghdad kicks out American forces following the U.S. airstrike that killed a top Iranian general, according to Iraqi officials.

The State Department warned that the U.S. could shut down Iraq’s access to the country’s central bank account held at the Federal Reserve Bank of New York, a move that could jolt Iraq’s already shaky economy, the officials said.

Iraq, like other countries, maintains government accounts at the New York Fed as an important part of managing the country’s finances, including revenue from oil sales. Loss of access to the accounts could restrict Iraq’s use of that revenue, creating a cash crunch in Iraq’s financial system and constricting a critical lubricant for the economy.

https://www.wsj.com/articles/u-s-wa...29?redirect=amp#click=https://t.co/aSj55SrCd4

 

[PakFactor]

Why the hell would one country put their money in a foreign bank? I understand for trading purposes but this is becoming stupid as hell. US/West of all shouldn’t be trusted to this extent one policy deviation and you end up on the street.

Have Muslims all gone dumb **** collectively?

 

[That Guy]

Why the hell would one country put their money in a foreign bank?

Have Muslims all gone dumb **** collectively?

The US is the sole super power in the world, and it has the largest economy. The US also has economic links to every single nation in the world, both directly and indirectly.

You want economic independence? Grow your economy to a massive size, so you don't have to rely on foreign banks managing your investments.

Also, Iraq's current setup is precisely due to the US. When the US invaded Iraq, and installed a new government, they made sure to (and I would do the same thing) keep Iraq under their thumb, in case Iraq rebels.

 

[PakFactor]

The US is the sole super power in the world, and it has the largest economy. The US also has economic links to every single nation in the world, both directly and indirectly.

You want economic independence? Grow your economy to a massive size, so you don't have to rely on foreign banks managing your investments.

Well I’m Pakistani (I’m aware of my country’s conditions) but Iraq is a major oil exporter and sure as hell they have capable people to manage the finances or use KSA to build a base. We already seen what UK did with Venezuela gold, etc.

 

[HttpError]

Why the hell would one country put their money in a foreign bank? I understand for trading purposes but this is becoming stupid as hell. US/West of all shouldn’t be trusted to this extent one policy deviation and you end up on the street.

Have Muslims all gone dumb **** collectively?

Sorry to say this, I don't mean to offend you but if you don't know why everyone has to rely on the US then you need to study Micro and Macro Economics.

 

[PakFactor]

Sorry to say this, I don't mean to offend you but if you don't know why everyone has to rely on the US then you need to study Micro and Macro Economics.

I have a degree in business and run a business myself so don’t need a boy telling me what to know and not to know, unless you can afford the subscription to read the entire article. My point is NOT why have money in the US. But limit how much funds you hold in 3rd party countries and keep the bulk in yours so you don’t get black mailed like this.

If all your oil revenue money is going into that bank account and you lose access that’s not the smartest move you can make. I’m sure KSA and other more reliable countries where one would have social and cultural links would offer better access to ones funds when needed.

In the current set up Iraqis would lose any sort of political autonomy they have and be blackmailed like they currently are.

 

[Black Stone]

The US will not be kicked out of Iraq because the Iraqi leadership doesn't have the capability.

The US will stay and if they were to pull out it would be on their terms.

 

[PakFactor]

The US will not be kicked out of Iraq because the Iraqi leadership doesn't have the capability.

The US will stay and if they were to pull out it would be on their terms.

When you control the purse your control their policy.

US never going to leave, that’s a fact and no amount of crying will budge the US.

But you have dumb f*** Muslims telling me to learn macro and micro, lol.

 

[HttpError]

When you control the purse your control their policy.

US never going to leave, that’s a fact and no amount of crying will budge the US.

But you have dumb f*** Muslims telling me to learn macro and micro, lol.

Yeah bit**, if you really did study from some reputable institution you wouldn't be questioning this whole scenario. I am not even going to waste my time by explaining to you why everything is traded in $ and why despite having tons of oil no Muslim country can offer what the US can. I wouldn't even bother telling you why countries such as China have $3 Trillion dollars of the reserve.

So, first, go learn some basics and avoid making your self look more stupid.

 

[hussain0216]

If the Iraqis were smart (big question)
Alarm bells would be ringing

And everyone else should be looking at this and it should be an 'aha' moment

Yeah bit**, if you really did study from some reputable institution you wouldn't be questioning this whole scenario. I am not even going to waste my time by explaining to you why everything is traded in $ and why despite having tons of oil no Muslim country can offer what the US can. I wouldn't even bother telling you why countries such as China have $3 Trillion dollars of the reserve.

So, first, go learn some basics and avoid making your self look more stupid.

Out of interest what does Iran do?

 

[PakFactor]

Yeah bit**, if you really did study from some reputable institution you wouldn't be questioning this whole scenario. I am not even going to waste my time by explaining to you why everything is traded in $ and why despite having tons of oil no Muslim country can offer what the US can. I wouldn't even bother telling you why countries such as China have $3 Trillion dollars of the reserve.

So, first, go learn some basics and avoid making your self look more stupid.

Your the stupid bitch who’s still not understanding my point but that’s ok as it’s expected from Patwari born kids. I’m not saying don’t trade in dollars etc, but specially keep the money within you borders (US cash or gold in Iraqi Central Bank) keep limited amount in NY Federal Bank so you don’t have all your eggs in one basket. Deposit enough money time to time to keep trade flow going.

I have a business insurance agency and strip malls and apartment buildings — all funds are routed to my operating account under my LLC. As each property bill (tax, HOA etc) or services rendered by contractors for repair or maintenance comes I wire enough funds for the outstanding invoices to be paid. This is doable for any country or organization.

We’ve already seen countries like UK holding back any sort of fund releases to for example Venezuela — last 10 years they can’t fund their operations internally.

If the Iraqis were smart (big question)
Alarm bells would be ringing

And everyone else should be looking at this and it should be an 'aha' moment



Out of interest what does Iran do?

Thank you @hussain0216 If he knew or saw how Iranians and Europeans are trading oil httpError wouldn’t have gone this crazy.

 

[Sineva]

Ahhh...theres really nothing quite like good old threats of blackmail and economic warfare....

....its called making them an offer that they cant refuse........

 

[Saddam Hussein]

Your the stupid bitch who’s still not understanding my point but that’s ok as it’s expected from Patwari born kids. I’m not saying don’t trade in dollars etc, but specially keep the money within you borders (US cash or gold in Iraqi Central Bank) keep limited amount in NY Federal Bank so you don’t have all your eggs in one basket. Deposit enough money time to time to keep trade flow going.

I have a business insurance agency and strip malls and apartment buildings — all funds are routed to my operating account under my LLC. As each property bill (tax, HOA etc) or services rendered by contractors for repair or maintenance comes I wire enough funds for the outstanding invoices to be paid. This is doable for any country or organization.

We’ve already seen countries like UK holding back any sort of fund releases to for example Venezuela — last 10 years they can’t fund their operations internally.



Thank you @hussain0216 If he knew or saw how Iranians and Europeans are trading oil httpError wouldn’t have gone this crazy.

And i'm sure you understand your business is not comparable to the scale of a 4th largest oil-exporting country.

Likewise KSA and many other countries have a lot of money in the US.

 

[crankthatskunk]

Arab should worried the day same message given to the Saudis and Emirates by Uncle Sam.

The idiots have trillions invested in North America. Stopping access to their finances would deal a hammer blow on the heads of clueless Arabs.

 

[Saddam Hussein]

Arab should worried the day same message given to the Saudis and Emirates by Uncle Sam.

The idiots have trillions invested in North America. Stopping access to their finances would deal a hammer blow on the heads of clueless Arabs.

We had a leader that was spitting on the USA (Saddam), in return everyone including Pakistan, Turkey all sided with big America. Don't act like you're that independent from the US. China is no different, they will use their power. Russia is no different, infact Russia betrays when they feel like it. No one is going do to favors.