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Trump interview on Fox News

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Anybody else catch the Trump interview with Laura Ingram on Fox News tonight where he said we have millions of Dollars of their money sitting in a account. (Was talking about Iraq and repayment for all we have done there.)  very interesting. 

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$35 billion!!    "If they refuse to pay us for embassy and bases, it might just stay there".

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A drop in the bucket.

Iraq owes US $1.4 Trillion in reconstruction aid & loans, alone & not even counting the costs of their liberation.

If Iraq reneges, then they owe us the total amount in oil.

Trump has the right to take it.

I'll take over 20 years for Iraq to pay us back in oil at today's production levels.

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10 hours ago, KristiD said:

there's another thread on this and I just posted this there...

 

 

Holding that said amount is definitely not helping to reduce the note count .. 

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What has been written many times in this forum ,the dinar will rise in value as

investors come in and start to rebuild and invest in the country. If the USA is forced

to leave that will be the end of any chance for the value to rise. imho. over& out...

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It makes more sense that the $35 billion in IQD that Trump says the US is holding belongs to Iraq. The US would be holding it to hedge the risk to Iraqi security. Risks like ISIS, instability, an Iranian-backed coup, etc.

 

My guess is Trump only mentioned it to suggest he'd garnish it as a penalty in case the Iranian puppets in the GOI made a power play to expel US forces.

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11 hours ago, Donziman said:

What has been written many times in this forum ,the dinar will rise in value as

investors come in and start to rebuild and invest in the country. If the USA is forced

to leave that will be the end of any chance for the value to rise. imho. over& out...

 

It sure sounds like you know your macro and micro economic. Thanks for sharing!

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It's hard to know what this money is.  According to the article below, Iraqi officials told the Wall Street Journal that they think Trump is talking about blocking access to their (Iraq's) account at the US Federal Reserve in New York.  That account holds is oil sales revenue and would be in USD (since Iraq sells its oil in USD/petro dollar) and is largely what Iraq uses to cover its expenses of running the country.  However, according to same the article, the last report shows some $3 Billion in that account.  Trump mentioned $53 Billion.  So unless Iraq put another $50 Billion into the account recently, it makes me think Iraq made a mistake (maybe deliberately) in saying that Trump was talking about its Federal Reserve account

 

This is why it's so frustrating and hard to make sense of news from Iraq.  Tere's just so much deliberate misdirection, corruption and incompetence there, not to mention the poor translation from Mid East news sources.  And let's not forget, while Iraq's Parliament did vote to expel the US, it was a non-binding vote.  The Iraqi Government (not Parliament) decides whether to do that or not.  Barzina (Kurdistan) says he doesn't want the US to leave, and from what I gather, the Protestors don't want that either.  It's mostly the pro-Iranian officials who want the US out and those guys lie, cheat, steal and murder, so if we're getting our news from a pro-Irania official, it's not likely accurate.  Anyway, for what it's worth, here's another piece of the puzzle.   https://www.cnbc.com/2020/01/11/trump-administration-warns-iraq-could-lose-new-york-fed-account-wsj.html 

 

Trump administration warns Iraq could lose New York Fed account if US troops forced to leave: WSJ

The Trump administration this week warned Iraq that it could lose access to its central bank account at the Federal Reserve Bank of New York if Baghdad expels American troops from the region, Iraqi officials told The Wall Street Journal.

 

The State Department’s warning follows the U.S. airstrike that killed Maj. Gen. Qasem Soleimani, Iran’s top military commander and the face of the Islamic Republic’s interventions across the Middle East.

 

The strike led to Iraq’s parliament voting to force out American troops — a move some officials argued would hurt Iraq — and a counterstrike by Iran on two bases housing U.S. troops in Iraq last week.

 

Shutting down Iraq’s account at the Federal Reserve Bank of New York could be detrimental to its financial system. The country puts its revenue from oil sales there, and takes out that money to pay government salaries and contracts.

 

The Fed held almost $3 billion in overnight deposits at the close of 2018, according to the most recent financial statement from the Central Bank of Iraq...................

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