Iraq’s Gold Imports Hit $30B — Cover for Dollar Shortage?

Iraq’s gold imports have skyrocketed — hitting $30 billion in just the first half of 2025 — link to My FX Buddies and experts say this shift has turned gold from a simple commodity into a powerful financial tool, and in some cases, a shadowy cover for dollar shortages and smuggling operations.In this video, we explore:Why gold has become Iraq’s “second dollar” amid U.S. banking restrictionsHow $12.5 billion in gold imports last year nearly matched the Central Bank’s entire gold reserveThe social impact of record-high gold prices, including rising dowries and postponed marriagesThe risks of gold becoming a permanent escape channel for smuggled moneyThe Central Bank’s surprising move to buy 20+ tons of gold, making Iraq one of the top global buyersSupport My FX Buddies:⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://cash.app/$tishwash⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠.... ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://paypal.me/tishwash⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠....Get a FREE transcript at:⁠⁠⁠⁠⁠⁠⁠⁠⁠https://rss.com/podcasts/myfxbuddies⁠...With gold prices crossing $3,600 per ounce globally, this issue is not just financial — it’s social and political. The future depends on whether Iraq can automate and regulate this sector, turning gold into a strategic strength instead of a loophole in the economy.