Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsWSJ: Trump admin holding Iraq's bank-accounts hostage to prevent them from kicking out US forces.
https://www.wsj.com/articles/u-s-warns-iraq-it-risks-losing-access-to-key-bank-account-if-troops-told-to-leave-11578759629subscription needed
https://www.rawstory.com/2020/01/trump-administration-threatens-to-deny-iraq-access-to-their-own-money-if-they-boot-out-us-military-report/
On Saturday, the Wall Street Journal reported that the State Department is threatening to revoke Iraqs access to a national bank account at the Federal Reserve Bank of New York if the country moves to push U.S. troops out of the country.
Iraq, like other countries, maintains government accounts at the New York Fed as an important part of managing the countrys finances, including revenue from oil sales, wrote reporters Ian Talley and Isabel Coles. Loss of access to the accounts could restrict Iraqs use of that revenue, creating a cash crunch in Iraqs financial system and constricting a critical lubricant for the economy.
Iraq, like other countries, maintains government accounts at the New York Fed as an important part of managing the countrys finances, including revenue from oil sales, wrote reporters Ian Talley and Isabel Coles. Loss of access to the accounts could restrict Iraqs use of that revenue, creating a cash crunch in Iraqs financial system and constricting a critical lubricant for the economy.
Oh, good. That will totally make the US look trustworthy.
See also
https://www.cnbc.com/2020/01/11/trump-administration-warns-iraq-could-lose-new-york-fed-account-wsj.html
needs adblocker turned off
InfoView thread info, including edit history
TrashPut this thread in your Trash Can (My DU » Trash Can)
BookmarkAdd this thread to your Bookmarks (My DU » Bookmarks)
7 replies, 768 views
ShareGet links to this post and/or share on social media
AlertAlert this post for a rule violation
PowersThere are no powers you can use on this post
EditCannot edit other people's posts
ReplyReply to this post
EditCannot edit other people's posts
Rec (3)
ReplyReply to this post
7 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
WSJ: Trump admin holding Iraq's bank-accounts hostage to prevent them from kicking out US forces. (Original Post)
DetlefK
Jan 2020
OP
exboyfil
(17,865 posts)1. I guess he was right about seizing the oil
War criminal.
Baked Potato
(7,733 posts)2. He's such a failed negotiator.
All he knows is revenge and retaliation.
uponit7771
(90,367 posts)3. Hmmmm, Iraq must be serious, isn't this another violation of ICA?!?!
Buzz cook
(2,474 posts)4. What's to stop them
moving their account to Russia?
bitterross
(4,066 posts)6. They're sort of already doing that
They've been making deals with other countries in currencies other than US Dollars. This allows them to continue trading without the need for US Dollars. Deals with - you guessed it - Russia for example.
Putin is getting what he wants. Trump will help Putin de-value the dollar with these tactics.
Me.
(35,454 posts)5. Another Shakedown
Haggis for Breakfast
(6,831 posts)7. WAKE UP AMERICA !!!
THIS IS WHY THE JAPANESE BOMBED PEARL HARBOR.
They had nothing left to lose at that point.
Desperate people (and nations) will do desperate things.
They had nothing left to lose at that point.
Desperate people (and nations) will do desperate things.