مواضيع ومقالات حول #Dollar

The Central Bank of Syria issued a statement on February 14 about the situation in the exchange market. The statement and the procedures that have been taken were mostly about “security”, as the collaboration between the Anti-Money-Laundering/ Combating the Financing of Terrorism and stakeholders was discussed to conquer a group of companies and agencies that work in speculation on the Syrian Pound and confiscating large amounts of money in the Syrian Pound and the US dollar. The statement also discussed other non-specific intervention tools.

Logical estimates say that the newly introduced 5000 SYP [a piece of paper money that had never existed before] will turn into a surplus money supply in the market because the current level of prices needs an additional money supply of Syrian pounds. However, this will not be a reason for price increase, as prices are practically dollarized and are deeply related to the decline in the flow of goods inside and into the Syrian economy.

Statements by Macron, Merkel, and other European leaders regarding the “Black Wednesday” the US lived were not statements of “solidarity”, but rather an expression of panic and fear of the horror of the scene that threatens of the “water reaching their shores”.

Preparation for the post-dollar phase has become a settled matter, as the “world money” as a whole will move to a new formula. The crisis seems to be making this replacement more urgent, as the International Monetary Fund has launched a call for a new Bretton Woods negotiation to reformulate the monetary system, and to move from a dollar-based system to a common system for central digital currencies.