Riyadh, Saudi Royal Palace.

Looking at the luxury cars parked outside the palace, Kusai smiled. Thanks to Saudi Arabia's rich oil resources, the Saudis live a wealthy life. Their luxury cars and villas are indispensable parts of their daily lives.

However, in Iraq, Kusai has always been very boycotting this. The government's official vehicles have always been ordinary intermediate cars. Moreover, Kusai often takes the lead and takes out his salary and donates it to the treasury.

Although Iraq has become a country with high per capita income, there is still a long way to go to build a country and strengthen the country. In the process of Iraq's development, an important issue is to prevent the corruption of the ruling class and become a privileged class.

Kusai must lead by example.

However, in the Saudi royal family, there are few people who start their own business by working hard like Prince Wallid. Most princes live in their golden pockets and only know how to spend money.

However, these are Saudi Arabia's internal affairs and Kusai has no right to interfere.

As Iraq gradually became stronger, Kusai's behavior became more cautious. The surrounding countries were all Arab countries and his brothers. Iraq, as their leaders, led the entire Middle East and became stronger together. However, the surrounding countries must not feel wrong, thinking that Iraq's strength would threaten them.

This is a choice of balance points.

Thinking of his purpose of coming this time, Kusai was once again excited. After all, his proposal this time was shocking.

"President Kusai, welcome your arrival very much." At the door of the palace, Prince Sultan has come out to greet him in person.

"Your Highness, please come and greet me in person," asked Kusai.

Both of them are old acquaintances. Prince Sultan and Kusai have a very close relationship. Prince Sultan patted Kusai on the back and the two walked into the palace together.

"President Kusai is here, I have to express a warm welcome." Prince Sultan is very real.

"Have he read my letter to the king?" Kusai asked as he walked.

"I've seen it, so. This time, along with the people from Kuwait, we need to hold an internal meeting first." Prince Sultan said.

When he came to a gorgeously decorated conference room in the palace, Kusai met the main personnel of the meeting, Saudi King Fahd, Saudi Minister of Finance Dawud Abdul, Saudi Oil Minister Prince Fahd Saleh, Kuwait Prince Fahd, and Minister of Finance Mustafa Jahim.

And Kusai was accompanied by his Finance Minister, Hikmat. This meeting will determine a major event in the entire Middle East.

"President Kusai, Iraq has achieved remarkable achievements." King Fahd said: "Now, our Middle East has achieved peace, the Persian war is finally coming to an end, and the situation in Afghanistan will be finally resolved."

"This is what we Iraq should do." Kusai said: "We Iraq don't like war. Being able to have peace is the best solution. The trend of the world, war will become increasingly difficult to fight. Isn't even the Soviet Union and the United States relaxing the situation?"

Now, the Soviet Union and the United States are easing each other's situation. They are now facing economic problems and no one has the strength to take care of each other. However, it does not mean that the Middle East is completely peaceful. After all, there is Israel in the Middle East.

"In order to promote the economic development between our countries, I hope that our countries in the Middle East can use a unified currency," said Kusai.

Although they already knew about Kusai’s proposal in advance, they still felt shocked when Kusai said it from his mouth.

Now, only Europe has been working hard to achieve economic unity.

The emergence of the euro can be traced back to March 1969. The European Community The Hague Conference proposed the idea of ​​establishing a European Monetary Union and entrusted Pierre Werner, then Prime Minister of Luxembourg, to make specific suggestions on this.

After two years of preparation, the "Werner Plan" was passed, and the construction of a single currency in Europe took the first step. This plan advocated the establishment of the European Economic and Monetary Union in three stages within 10 years. However, the subsequent oil crisis and financial crisis caused the plan to go bankrupt. Ten years later, with the advocacy and efforts of France and Germany, the European monetary system was established, and at the same time, the European currency unit "Eaju" was born.

Two years ago, the European Community signed the "Single European Document" and proposed to establish a unified large market by the latest in early 1993. It was divided into three stages: the first step is to fully realize the free flow of capital; the second step is to establish the European Monetary Bureau, the predecessor of the European Central Bank; the third step is to establish and implement the economic and currency alliance to replace the currencies of member states with a single currency.

Europe has been working hard and has not achieved any results. Now, in the Arab region, is it necessary to achieve a unified currency? They all have different opinions, or rather, have a certain skepticism.

"Unified our currency has great benefits. The most important thing is that the economic transactions between our countries have disappeared from the exchange rate risk and reduce the transaction costs between our countries. For example, the price will be reduced by 10% from carpets exported from Iran to Riyadh," said Kusai.

In internal circulation, using a unified currency will avoid losses caused by changes in exchange rates between each other. Moreover, various commissions and other problems during currency exchange, so the transaction price will drop, which is of great benefit to trade between each other.

"And this will increase the competitiveness of the various products produced internally in the international market when exporting them to the outside world." Kusai said: "This is also the reason why Europe has always wanted to unify the currency. Our industry in Iraq has developed rapidly, but it is impossible for all accessories to be produced independently. Some of them need to be subcontracted to other manufacturers. In the future, there will definitely be many product cooperation relationships between our countries."

Although many people are still suspected of a unified currency, in later generations, this is a completely trend. Not only Europe has successfully achieved the development of the euro zone, but also in Asia and even North America, various possibilities of a unified currency are being discussed.

Kusai also knew that at this time, no euro had appeared, so skepticism was essential. Although Saudi Arabia and Kuwait were loyal allies of Iraq, they must first consider their own interests when it comes to issues related to their vital interests.

This unified currency has its own advantages, but it also has its disadvantages. The biggest disadvantage is that member states must give up the maximity of monetary policy, which means that countries can no longer use monetary policy as a policy tool to regulate the macroeconomic.

In the financial field, Kuwaits have the most say. They have been conducting various financial activities. The Kuwait Investment Bureau has invested Kuwait's oil returns and international investments. Kuwait's returns in the financial field have already caught up with the oil returns. In this way, when oil is in poverty in the future, there is no need to worry about Kuwait's financial source.

Now, Kuwait mainly uses the US dollar, or other countries hold the main foreign exchange, because when they export oil, they collect the US dollar.

After listening to Kusai's words, everyone was silent, thinking about whether the benefits Kusai said were worthy of their country's support for this plan.

Kusai knew that these were their own powers and Iraq could not force them to join the camp of this unified currency.

After a while, King Fahd spoke first. He asked Kusai: "President Kusai, is there any other intention for the plan you mentioned?"

In fact, Fahd had guessed Kusai’s true thoughts, but he also wanted to get verification from Kusai’s mouth.

"What do you think?" Kusai asked back, "His Majesty King, do we have any other benefits to unify the currency?"

"If we unified the currency, then we don't need to use US dollars to pay for oil. We can consider paying in our own currency." At this time, Saudi Oil Minister Prince Saleh said.

As soon as his words came out, everyone was stunned.

Use your own currency to settle oil!

Kusai smiled, but the Minister of Oil reacted quickly, or the Minister of Oil was a little stupid. In short, if the window paper was clearly stated, everything would be easy.

The reason why the United States was so rampant and became a superpower was that it was not only a military power, but also an economic giant. This economic power was entirely caused by the US dollar, or in other words, it was the US dollar oil system that contributed great contributions.

At the beginning, the US dollar was decoupled from gold, and the Bretton Woods monetary system collapsed. The United States seized the straw of oil in time. The American weapon Kissinger convinced Saudi Arabia to allow oil exporting countries to accept the US dollar as the only denominated and settlement currency for international oil transactions. In the end, the US dollar became the only payment certificate. In this way, the most direct understanding is that the United States can buy oil by printing money, while other countries in the world must exchange real goods and services from the United States for US dollars, and then purchase essential oil. Therefore, these oil dollars have turned into US stocks, government bonds and other financial assets in the form of return, filling the US trade and fiscal deficits, and supporting the US economy.

The United States can become a world currency, which has a lot to do with oil. Do you want to buy oil? You have to trade with the United States first, and you can only have the US dollar, because oil exporting countries only charge US dollars!

But now it’s different. The United States has nothing to do with oil anymore. Middle Eastern people use their own currency to settle oil!

Printing your own currency and then using your own currency to settle oil is the most suitable choice.

In this way, the Middle East's own currency will become the world's currency.

ps:ps: Thank you for your reward from the two friends Niuer, thank you for your precious monthly tickets!
Chapter completed!