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Chapter 1003 Unified Currency (2)

The unification of the currency in the Middle East is just a precursor, and after the unification, the use of this currency to settle its own oil resources is the latter move, which can make the economy of the Middle East once again complete a rapid development and make the Middle East become the center of the world, which is possible. Pen, Fun, Court www.biquge.info{{}}

In later generations, the use of this trick, a total of three countries, the first is Iraq, Saddam in 2000, the use of the euro to settle the country's exports of oil, before the settlement, the euro to the dollar ratio is 1 euro to 83 cents, and after the settlement, is 1 euro to 1.05 cents, the second country is Iran, Iran in 06 years, the establishment of the euro for trading and pricing of oil exchanges, the third is Venezuela, and South American countries to establish a barter mechanism.

However, the establishment of such a mechanism is very risky.

Originally, the dollar was pegged to gold because the United States had ample gold reserves, and then, as the United States' gold reserves dwindled, the Bretton Woods monetary system collapsed. The current petrodollar system is not as good as the Bretton Woods monetary system, because it is oil that supports this system, but oil is not owned by the United States, but distributed in many countries around the world. If some factor causes the United States to lose control of oil resources, it will affect the system, and this material support is unreliable.

However, for more than a decade, the United States has maintained the normal operation of this system for decades to come, because the United States has unrivaled force! If an oil-exporting country does not obey, then use its own force to force the oil-producing country to implement the monetary policy of the United States.

Saddam Hussein was not obedient, so the Americans finally launched a war to bring down Saddam's regime, and the new zhèngfu was completely in line with the interests of the United States, and even the oil resources that had been nationalized for decades were sold to foreign companies for exploitation.

Iran is disobedient, and the United States has always been ready to clean up, but decades of confrontation have left them with lingering palpitations. However, when Iran gave up the dollar, the US aircraft carrier immediately sailed into the Middle East.

The printing of the dollar is controlled by the United States itself, so the United States can obtain physical materials by printing dollar bills, and can also scrape the monetary wealth that other countries already have through the depreciation of the dollar, the dollar is a hegemonic currency, and the economy of the United States is a hegemonic economy. This is a deformed monetary and financial system.

If the dollar is no longer pegged to oil, then the dollar held by various countries will gradually decrease, and these dollars will eventually flow back to the United States, and then the American economy will be completely crushed.

As a responsible Middle Eastern power, Qusay is well aware of the stakes, so what he is proposing now is only the first step.

"We want to develop our economy, it is a long way to go, and our unified currency will also be a long-term process." "At this stage, we need to come to an agreement to set up an Arab bank, to gradually promote our currency, and after a few years of experimentation, to abolish our own currency, to use the same currency uniformly, and then, to extend our currency, to all of our Arab world," Qusay said. When this step is completed, we will be able to consider using our own currency for the oil we export. It will take about five to ten years, but this is the last thing we must do, use our own currency, settle our own oil, and put aside the dollar! ”

Qusay made it very clear that this is a long process that needs to be developed gradually, first keeping the unified currency in sync with the national currency, and then gradually withdrawing the national currency to gradually complete this conversion. {{}}

Finally, when the unified currency becomes widely used, it will be used to settle the US dollar.

Qusay had already stated these conditions, but the meeting was temporarily suspended, and King Fahd suggested that everyone who came to Riyadh was a little tired, and that they should rest for a day and continue to discuss the topic tomorrow.

Qusay knew that this was something they had to discuss on their own, and it was absolutely impossible to agree to such a big matter immediately, and they needed to weigh all kinds of pros and cons.

However, Qusay is confident that Saudi Arabia and Kuwait will agree, because this will make the entire Arab world stronger!

Out of the palace, Qusay did not go directly to the hotel, nor did he bother to enjoy the scenery along the way, but went to the Kingdom Construction Company, the prince of Riyadh has now joined the United Arab Commercial Bank, which is the main direction of his current development, entering the banking industry.

The promotion of the Arabs' own currency, in addition to the zhongyāng bank, various commercial banks, also played a great role. {{}}

The Saudi royal palace, at this time the people of Kuwait and Iraq are gone, and the remaining few, but a dispute began.

"There is no doubt that using a single currency, the final payment, the settlement of our oil, is the fairest and most reasonable way, which will benefit the entire Arab world." Oil Minister Saleh said.

As the oil minister, Saleh is well aware of the impact that changing the settlement method will have on Saudi Arabia and the entire Middle East, and will bring their economy to a new level.

"However, this will deeply irritate the Americans." Chancellor of the Exchequer Daoud said: "The establishment of this petrodollar system has made the dollar a world currency, and if we start to show any signs of abandoning the dollar, the Americans will definitely change their attitude towards us completely, we have a lot of money in the United States, and when the time comes, the United States will probably freeze all our funds, and the United States may, will use force to put pressure on us." ”

Oil is the fundamental interest of Saudi Arabia, Saudi Arabia has huge wealth, but there is no corresponding force protection, so for Saudi Arabia, we must find a suitable bodyguard to protect their wealth, this bodyguard is the United States. {{}}

At the beginning, Kissinger was able to convince Saudi Arabia that this reason accounted for a large part. Although Saudi Arabia has modern aircraft and tanks, however, Saudi Arabia is definitely not a military power.

The Saudis are wealthy, and they lack one condition that a warrior must have, blood.

In the face of Qusay's proposal, the two important ministers put forward different opinions, the oil secretary saw the benefits, and the chancellor of the exchequer saw the risks.

King Fahd's face was calm, and he said to Prince Sultan: "Sultan, do you have any opinions? ”

Prince Sultan has always had a very good relationship with Iraq, and Prince Fahd thought that he would very much agree with Iraq's decision, but who knows, Prince Sultan's words were very pertinent and did not mean to favor Iraq at all.

"This is indeed a difficult choice, we unify the currency, then, in our Arab world, we can use our own currency to pay for oil, which will lead to our currency becoming the world's currency, or even completely replace the dollar, it is possible, but in doing so, the risk is indeed very large, we cannot go to the Soviet Union, our policy has always been pro-American, and there is no doubt that if we do this, we will be absolutely disgusted by the United States, The Americans will put no mercy on us, even blows, and when we offer to settle oil in our currency, that is, when we make a complete break with the United States. "Prince Sultan sees the problem more clearly.

"So, do we have the ability to resist American pressure, or even strikes?" Prince Fahd asked.

Prince Sultan shook his head: "No, if we really go to the opposite side with the United States, we are not absolutely sure that we will be able to fight with the United States, in particular, our equipment is all American-made, and when fighting, the Americans only need to cut off our supply of spare parts, and our weapons will be incapacitated like Iran at the beginning." ”

"However, Iraq has, and now Iraq, the industry is developing very fast, all kinds of weapons, including fighter jets, can be duli, Iraq's navy was originally weak, but now, with two large destroyers, and, in Qusay's vision, they will definitely continue to develop their navy." Prince Sultan continued: "Although Iraq does not yet have the absolute strength to confront the United States, in a few years, when our unified currency is stabilized, I am afraid that Iraq will already have a strong capability. ”

They are now only unifying the currency, although the United States may be dissatisfied, will exert pressure, but it will definitely not reach the point of starting a fight, only when they announce that they will not use dollars to settle oil, will it be the time to turn against each other, but at that time, Iraq must already have the ability.

Prince Sultan believed that Qusay must have already planned his future actions, so he threw out this plan now, but Prince Sultan must explain all the factors to His Majesty, which is his duty.

King Fahd is also weighing in his heart, for Saudi Arabia, in fact, this time the main choice is whether to continue to rely on the United States, or to rely entirely on Iraq in the future.

There is no doubt that the United States is strong, and Iraq is the pride of their Arabs, Saudi Arabia, how to choose?

King Fahd knew that Kuwait must be facing the same choice.

It's a tough choice.

Emotionally, it is very good for Saudi Arabia to move closer to Iraq, but intellectually, it is very risky to break the existing system.

Just when King Fahd was still hesitating, the secretary came in and reported that the American ambassador, Hume Holland, had arrived!

What is the U.S. ambassador doing at this critical time? Could it be that the matter they had secretly discussed had been leaked? (To be continued.)