Dear IK I will tell you what crime you have committed. I ask why IK had to be fired immediately instead of waiting 16 months for his term to end. So here is the answer.
To understand this let us first cover two concepts
1) What is a petrodollar. This was the 1974 agreement between King Faisal and President Nixon.
It is Saudi Arabia's responsibility to persuade all OPEC countries to sell oil in US dollars and not to accept other currencies or gold. All proceeds from the sale will be credited to US banks or the Federal Reserve. (Again there is a long formula on how OPEC county clearance will do. We can go to it at a different time) This will increase the demand for USD because any country must buy USD before buying oil. This arrangement will keep the USD strong.
Instead the Saudi currency is pegged at 1 USD = 3.75 SR, the Saudi economy can do good or bad, the rate of negotiation will remain the same. They do not face depreciation. Second, the US guaranteed that the South House would remain in power without any regime change.
It is America's responsibility to ensure that no OPEC country withdraws from this agreement. Iraq and Libya have become insurgents and we all know what happened.
2) What was the Indian rupee-ruble trade between India in 1953 and the Soviet Union (later Russia).
They pay in Indian Rupees for Indian purchases from Russia. This will increase the demand for the Indian rupee and keep the currency strong.
They have to pay rubles for Russian purchases from India. This will increase the demand for the ruble and keep the currency strong.
To facilitate business an Indian bank opens a branch in Russia and a Russian bank opens a branch in India. There are security arrangements in place to prevent any country from being deceived (we can overcome these at another time).
This setting bypasses Swift. Please note, it is important to understand that this agreement took place in 1953 before the 1974 Petrodollar Agreement.
In 2019, IK became the first Pakistani Prime Minister to sign the Pakistan Rupee-Chinese Yuan Agreement. The contract includes semiconductors, transformers and transmission equipment. America was not happy, but left it because it had never been involved with oil.
IK is in the process of signing the Pakistan Rupee-Russia Ruble Agreement for Oil in 2022. Keep in mind that the Petrodollar Agreement dates back to 1974. It's not, no. The US will not accept it because if other countries follow suit, the USD will weaken and the US economy will fall to EU levels. There is no other superpower.
If the IKE had been able to do so in the next 16 months, Pakistan would have been out of slavery even if it had lost the coming elections. So it had to be removed immediately. He left America with no other choice.
Ike should be grateful to be sitting in heaven with Saddam Hussein and Gaddafi. America gave him a second chance, but if he decides not to take advantage of it, God only knows what will happen to him or Pakistan.
If IK succeeds in achieving this in its second term, this sustained devaluation of the rupee (USD 1 = 180 PKR) will stop, Pakistan will begin to pay to the IMF and the exchange rate will begin to recover.
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