Iraqi officials warn of economic 'collapse' if US cuts off access to oil revenues

Iraq has told the US it wants them to leave. US officials apparently responded that they would cut off access to Iraq's money

https://twitter.com/paulwsj/status/1216034452037611520

Now Iraq is making clear that that would destroy them

cont'd https://www.presstv.com/Detail/2020/01/13/616058/Iraq-collapse-US-blocks-oil-revenues

Do you think this is the right way for the US to respond when it is not officially occupying Iraq? Is it right that because of being the world Reserve currency the US has the ability to bully anyone to do anything she wants on threat basically of their destruction?

 

What will Iraqis do in 20 or 25 years when oil will run out ?

 

What does it matter if they have rights if they can't enforce them ? elephants have the right to fly just like birds do so what ? if they kick out Americans they take into account Americans will kick them, I swear this socialist left thinking is rotting governments....what the hell were they thinking ?

 

T’he Iraqi’s were stupid for allowing the US to hold their money in the first place.

 

It isn't socialist thinking to not want world Domination by one Imperialist Country. It is the thinking of anyone who values democracy. There is growing concern about the US being able to do this simply because she has the privilege of being the world reserve currency. It is going to hit back on the US as people get together to stop her harming the world in this way and becoming a World Despot. When the US is no longer the World Reserve Currency her people will suffer. It may suit you but not for people who believe in Democracy and people's right to Sovereignty of their own Countries.

 

Couldn't agree more. Did they have a choice?

 

I don't necessarily agree with the Iraqi decision.
I am thinking that most politicians or civilians rely on the US military for public safety. Plus, they have received billions in aid from the US since the invasion.

How is it possible that after the capitulation, the US and Iraq do not have some contracts in place for hundreds of years like Germany, so these things do not happen. An imposed deal like discussed, Iraqi oil money must be kept in US banks.
How is it possible for the Iraq gov to be more Iranian leaning than American?

I also dont believe the past US admins are this stupid in handling an occupied country. Something doesn't make sense to me.

 

Good post. This is another example of the Trump administration shooting the US in the foot.

The only reason the US has the ability to wage this kind of economic warfare is because the world "allowed" the US to be in charge of the international system of payments - which is in USD.

The Trump admin has threatened to block banks and corporations - of nations who violate the unilateral Iran sanctions - out of the system of international payments. The so called "Nuclear Option".

So the US is not just waging economic war on Iran/Iraq - it is doing so on most of the world -at the same time.

The backlash has been visceral - Our European Allies have used the most strong language - "you are messing with our sovereignty".

If some nation messed with our sovereignty - the reaction would be no different.

In response the world is working hard to rescind the privilege given to us - working to create a competitor to the US system (SWIFT)

Most folks do not realize the tremendous benefit that having this privilege conveys. The day that a viable competitor to SWIFT exists - will be the day the History books will record as the defacto end of the US economic Empire - Full Stop.

 

Because ultimately nobody wants done to their country what the US has done to Iraq.

 

Yes people are trying. Mark Carney came up with an idea of having a Global Digital system some months ago https://www.theguardian.com/busines...ney-dollar-dominant-replaced-digital-currency . There he is just talking about the Dollars position being too dominant and holding everyone else back but I have heard him talking about it in a more critical way with how the US has taken what is indeed a privilege and I understand allows the US a lot of leeway financially which other countries do not have. Iran was wanting the Euro to become it, or part of it and I would not be surprised if a lot of the American Rights desire to destroy the EU was not linked to that. Nothing seems to suit everyone at the moment but with behaviour like the US does which it can only do because of this I would think it was only a matter of time till people find a way of moving together and a system they can work with - this time hopefully not all in the hands of one country or group like EU.

 

There is a movement afoot among many nations - which is what it will take for a legitimate competitor to arise. This started to happen slowly many years ago - ramping up after the 2008 crash. Even then however the movement was slow. Trump using the "Nuclear Option" - threatening to block banks and corporations out of the international system of payments - if they do not comply with the unilateral Iran Sanctions .. has lit a serious fire.

 

The US removed the previous government, it's police, it's army, it's justice department, and so deliberately pushed Iraq in total anarchy and made ISIS spawn. The US is responsible for that. It comes with the responsibility as occupying power. (That's international law!) 17 years later, and Iraq still is not in full control of the total chaos the US created. And here you dare say the politicians and civilians rely on the US for... safety?

The US killed a general in Iraq who was in Iraq to counter terrorism, buddy.
There is zero evidence that he caused any threat to the US.


And now the US threatens to steal their billions.
At what point do you think Donald is an imminent threat to Iraq, in the eyes of Iraqi's?

 

So the us keeps troops in iraq or we starve them to death.

That is what an evil empire does .

What happened to my nation?

 

I don't think it's mainly because of isis that the troops still have to stay,
but I think because of Iran's move now to into Iraq crating another Yemen perhaps,
If they could not create chaos in the Strait of Hormus then they will try to do it inland.

https://www.commondreams.org/news/2020/01/10/were-staying-us-tells-iraq-after-being-asked-leave

 

blocking some $35 billion of Iraqi money "right now sitting in an account" in the United States.
..................
The second official said, "It would mean collapse for Iraq."

If $35 billion would collapse a govt then that govt was never stable to begin with. Hey Iraq, why don’t you ask Bloomberg to give you the money instead of wasting it on some non watched tv commercials?

 

Humans have rights, countries form as a force IF they can claim sovereignty, its not given, in other words you can piss on the US if you can take the heat like Russia or China, Iraq.....well.......

 

Solution? Easy—quit acting like madmen playing with tyrants.

 

How can say it politely, there are people in Iraq living . Innocent people suffering .
And US acts as if Iraq is it's territory . Bombing and deploying troops whenever wants to.
Trump is saying that Iraq should pay for their investments . Look at what US did to this country. They invaded them killed them exploited them produced ISIS there that beheaded them daily and Iraq is practically a war zone nowadays. They are doing this just because their sin is having a wealthy country full of oil.
It was nothing like this when Saddam was in power there.
I mean it's pure and undeniable cruelty.

 

Their sin is they stole that oil from the productive and use that to demand the world bow it’s head or lose. Fk that.

 

Please elaborate

 

Please read Middle East history, or watch this.

A Brief History of the Middle East


The Arabs stole that oil from the West by violating the principle of property rights and the sanctity of the contract. They then used their new founded loot to set up Islamic theocratic states and fund Islamic terrorism.

Or this: The Rise of Totalitarian Islam

 

I'll watch the videos at the right time . But since those videos are little looong can explain to me how the middle east countries stole the oil .

 

Basically you are saying the US is the world Despot which is why people are looking at ways to remove this Despotic power.

 

I did—violating the sanctity and principles of property and contract—it was the West that found the oil, dug it out of the ground, processed it and brought it to market—it was the roving nomadic Islamic tribes that nationalized it, enriched themselves, and funded Islamic terrorism. In the Islamic world, the individual citizen lives with fear and deprivation while the Mullahs and Saudi Royality murder, rob, and fund world wide terrorism demanding the human mind bow to Allah or lose its head.

For all the hell the Arabs endure, they have only themselves to blame—their rejection of capitalism, individualism, and reason is murdering their human spirit.

 

The US just murdered the person with the biggest input in getting rid of ISIS so I don't think they are bothered about ISIS. In fact something I read suggested both the US and Israel wanted ISIS there - another despot to keep them in place.

WTF. What is going on in Yemen began with a local genuine demand for democracy in the so called Arab Spring. Although one of the more genuine, news did not come out as this one was not wanted. The Sauds who with the US and the UK are responsible for what is being called the worst humanitarian disaster which is being created in Yemen saw no point in any supposed interest in democracy as far as Yemen was concerned. Nothing for them to gain.

This comes from a genuine reaction to foreign invasion of one of the poorest countries in the world by one of the richest backed by the richest.

Iran had very little involvement at the beginning. I believe they advised them not to take over the Government in Sana'a which the Houthi promptly did. I also heard that Hezbollah gave some of them training..but in general just a local outfit fighting for their country against an outside barbarian supported by the Despot of the world. Initially they did not need much in the way of outside weapons as the ex President aligned with them and they had access to about half of Yemen's military and equipment. As time has gone on and the continued attempt to starve the civilians or kill them with cholera continues Iran has offered more support which obviously Yemen has and will reciprocate - but this was very late in the day.

I understand Iran believes the Straits belong to her though this is disputed. Now you tell me why you believe your country can stop Iran from being able to indulge in any economic activity including sale of her oil and that you should cause her people to starve and die because your country reneged on an International Treaty. The problem with the US is that it believes everyone else is their inferior and must do what it wants or die.