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Abadi: Two months separating Iraq's exit from Chapter VII


yota691
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Don't take this as fact...just my perspective...I would think the RV would be in- country first...The WTO as well as the UN have stipulations on the sanctions concerning Iraq's issue with Chapter VII...The dinar has to be internationally valued to it's true worth by the standards set forth by the IMF...If my memory serves me correct, one of the WTO stipulations is; that Iraq has a tradable currecy...China is a good exception to this theory, so there we go again...just why did that chicken cross the road...maybe to lay the egg...lmao

7 minutes ago, 10 YEARS LATER said:

Skeeter - do U recall if it's RV THEN Ch. 7 removal. ......or Ch. 7 removal to RV???? 

I really can't give you a honest answer on this "10 YEARS LATER"...I know Iraq has to comply to pass Chapter VII to go international...One stipulation by the WTO is that Iraq has a tradable currecy to comply with Chapter VII...The IMF want let Iraq enter the international market with an undervalued currency...With that being said, it would seem the RV would be first...This would comply with the concerns of the WTO on Chapter VII, as well as increase the value of the dinar before it goes international. Those not already possessing dinar would have to purchase the dinar at the RV rate once it goes international...That would make all us DV'ers seem as very shroud investors.... 

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1 hour ago, 8th ID said:

 

It is my understanding that they have to have an internationally accepted currency before going to Chapter VIII, not so much of an RV. But having an international currency sure helps for having an RV.

 

I agree with keeping them off guard. Going international without an RV will open the flood gates for a ton of speculators, which in itself I think will cause it to rise. Anyway you look at it, I think it is a good thing. :twothumbs:

 

Thank You for your response, 8th ID!

From what I highlighted in red from your response, did you mean Chapter VIII (8), Chapter VII (7), or Article 8? There have been so many Chapters and Articles flying around that I am exhausted from all the Articles and would like to turn a new Chapter in life!

Go Moola Nova!

:twothumbs:

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1 hour ago, skeetdog said:

Don't take this as fact...just my perspective...I would think the RV would be in- country first...The WTO as well as the UN have stipulations on the sanctions concerning Iraq's issue with Chapter VII...The dinar has to be internationally valued to it's true worth by the standards set forth by the IMF...If my memory serves me correct, one of the WTO stipulations is; that Iraq has a tradable currecy...China is a good exception to this theory, so there we go again...just why did that chicken cross the road...maybe to lay the egg...lmao

I really can't give you a honest answer on this "10 YEARS LATER"...I know Iraq has to comply to pass Chapter VII to go international...One stipulation by the WTO is that Iraq has a tradable currecy to comply with Chapter VII...The IMF want let Iraq enter the international market with an undervalued currency...With that being said, it would seem the RV would be first...This would comply with the concerns of the WTO on Chapter VII, as well as increase the value of the dinar before it goes international. Those not already possessing dinar would have to purchase the dinar at the RV rate once it goes international...That would make all us DV'ers seem as very shroud investors.... 

I just thought I would bring this back into the conversation . The IMF final statement from March 17 2017......“Iraq has been hard hit by the conflict with ISIS and the plunge in global oil prices since 2014. The government has responded to the fiscal and balance of payments crisis with a (((( large but necessary fiscal adjustment ))))) supported by financial assistance from the international community...... I think Dinner is ready . Its just not quite time to serve it yet .May I also add that I'm GOOD with that SHREWD INVESTOR description . Suits Us All Very Well !

 

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2 hours ago, Drunk_Viking64 said:

Hey EZ, I think you are looking at it from the wrong angle. When I bought my dinar 11+ years ago ($2,500USD which got me 4,025,000 IQD) I looked at it as I was buying a lifetime weekly renewable lottery ticket with a great payout at (I figured it was a 25,000 : 1 odds of winning a 1:1 or more return). Benefit being I used my gambling away money so no real harm there and every week for 11 years I've not spent any gas money or time getting new tickets filling out the bubbles and waiting in line. So I figured I saved $8,150.00 in gas alone and when people ask me weekly do I want to join their lottery group I tell them sorry I already have my tickets. And for ten years no one at the company or my friends and family has ever won and they spend $10 to $15 per week plus the gas to get to the store and back so they have spent $7,000 or more and have nothing. I have $4Million in IQD I could get $3,410 today, But I'm in this for as long as I keep getting calls to join a lottery group or when 1IQD is worth $1.27USD. Either way I get to have the same fantasy dreams the lottery buyers get but without the hassle.

nationalottery_2208073b.jpg  falling-money.jpg

That is a great perspective & fantastic, smart way to look at this investment! :twothumbs:

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2 hours ago, skeetdog said:

Don't take this as fact...just my perspective...I would think the RV would be in- country first...The WTO as well as the UN have stipulations on the sanctions concerning Iraq's issue with Chapter VII...The dinar has to be internationally valued to it's true worth by the standards set forth by the IMF...If my memory serves me correct, one of the WTO stipulations is; that Iraq has a tradable currecy...China is a good exception to this theory, so there we go again...just why did that chicken cross the road...maybe to lay the egg...lmao

I really can't give you a honest answer on this "10 YEARS LATER"...I know Iraq has to comply to pass Chapter VII to go international...One stipulation by the WTO is that Iraq has a tradable currecy to comply with Chapter VII...The IMF want let Iraq enter the international market with an undervalued currency...With that being said, it would seem the RV would be first...This would comply with the concerns of the WTO on Chapter VII, as well as increase the value of the dinar before it goes international. Those not already possessing dinar would have to purchase the dinar at the RV rate once it goes international...That would make all us DV'ers seem as very shroud investors.... 

I'm picking up what you're laying down Skeeter - looks like a probable RV  prior to Iraqs Ch. 7 removal within the 2 months timeline we're looking at now. Seems I do remember some posts suggesting the very thing you also are stating.

If Iraq has to comply ( with a tradable IQD ) to be clear of Ch. 7, ( and I'm going way out on a limb now ): then NOW it really is only a matter of when in the next 2 months. !!

I won't quit my day job just yet, making plans to just that if what we read now is the real deal.

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Synopsis, (and everyone else who posted in response) I appreciate the manner in which you inquire about the 2-month period, and think your analogy regarding the 'barn doors' expresses and summarizes the scenario quite well. I for one do not see Iraq being in a position that would intentionally bring in large group of  investors whilst the country is still in the process of formerly going international. I believe we will see the 2-month reference, for one of the very rare times, is met early, and that we see an RV, HCL, 'formal' exit from chapter VII in a near-simultaneous manner, much sooner than 60 days from now. I personally like to think, and  hope, that the two-month reference Abadi speaks of is achieved within the next two days or two weeks, and that his words in retrospect are actually a subtle 'tip off' to those in his own 'personal' audience. Despite learning what I could from the many news articles over the years, I never anticipated an HCL Act vs. fully functioning law, nor did I realize till relatively recently that Iraq was not completely out of Chapter VII. If Iraq is ever going to meet its goal early, and surprise the world. now is the time. Go RV!!!

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11 minutes ago, presence said:

Synopsis, (and everyone else who posted in response) I appreciate the manner in which you inquire about the 2-month period, and think your analogy regarding the 'barn doors' expresses and summarizes the scenario quite well. I for one do not see Iraq being in a position that would intentionally bring in large group of  investors whilst the country is still in the process of formerly going international. I believe we will see the 2-month reference, for one of the very rare times, is met early, and that we see an RV, HCL, 'formal' exit from chapter VII in a near-simultaneous manner, much sooner than 60 days from now. I personally like to think, and  hope, that the two-month reference Abadi speaks of is achieved within the next two days or two weeks, and that his words in retrospect are actually a subtle 'tip off' to those in his own 'personal' audience. Despite learning what I could from the many news articles over the years, I never anticipated an HCL Act vs. fully functioning law, nor did I realize till relatively recently that Iraq was not completely out of Chapter VII. If Iraq is ever going to meet its goal early, and surprise the world. now is the time. Go RV!!!

:twothumbs: Presence!

Go Moola Nova!

:twothumbs:

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hello folks. be blessed all. been lifted from chapter vii of un charter means iraq is internationalized. do you think that they are gonna let their currency been worldwide tradeable with the current value? no. so, in conclusion, they are gonna rv prior to chapter vii released. 

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In my opinion iraq has to have all chapter 7 sanctions released in order to be considered to have full sovereignty, which means control over all of their finances, ie. banks, state banks, currency, etc. The only thing that i can recollect is that Iraq has to finish the demarcation of the border with kuwait, and they have to settle the issue of the missing kuwaiti's. Now i think that nikki haley has helped alot with that at the un, and that is the reason why the head of the un was there. The head of the un doesnt show up there to talk about the human rights issues with the fight in mosul, etc in person. He has unami for that. I think what alot of these big wigs are looking at is the real action on the ground and not taking the word of even the prime minister or the foreign minister anymore. They have seen the lies continuously for years coming from iraq, and now comes the time to pay the piper. Lets look at all the big wigs that have been to iraq lately, along with abadi and his kurd delegation coming to the u.s., then the arab summit which was huge, the stand by meeting with the imf that lasted for 2 weeks. The beginning of that meeting with the imf was very telling. They met with private business investors from iraq. Never saw that before, which means they are setting the stage for the private sector to help them move to a market economy. I think synopsis has a very good eye on seeing the part of the article where it clearly stated that things were agreed upon with abadi and trump and abadi didnt come home and really address the issues. Trump is not a patient man and expects results when someone comes asking for money once again in a country where we have spent upwards of a trillion dollars. Trump wants laws and the popular crowd taken care of and he wants the kurds issue settled. Rex tillerson knows all these characters very well and knows exactly what the kurds want and i believe he feels they should have it but doesnt agree on the succeeding from iraq. That destabilizes the region even more. Now you have kushner there at the invitation of Dunford? lol. I dont think so. That was all trump, and meant to be the follow up to all that was discussed in washington, and one of the first places he goes is kurdistan? lol. Also at the same time the delegation of kurds is coming to baghdad and you have the issue of article 140. I believe this is the precursor to the ending of chapter 7, but in order to get that they need to abide by the rest of the items that are left in the constitution. Trump believes here in the u.s. that they states have more say so than the government, so why wouldnt he think the same thing in iraq. So as far as the technical issues with chapter 7 they are almost there, but the u.s has a lot of power in the un so if there are other things that trump wants then he will use the un chapter 7 sanctions as leverage. Lets not forget that they have to be out of chapter 7 before they can get one dime that any country holds that was funneled from the saddam days. That is alot of money. Anyways just my 2 cents. ;)

 

 

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This from a few years ago...

According to Iraq’s energy plan, oil exports are expected to reach six million barrels per day (bpd) by 2017. AFP photo
According to Iraq’s energy plan, oil exports are expected to reach six million barrels per day (bpd) by 2017. AFP photo

By Goran Mustafa 
 

 

ERBIL, Kurdistan Region – The lifting of Chapter 7 sanctions last month can be considered one of Iraq’s biggest achievements since the ouster of Saddam Hussein a decade ago, allowing Baghdad to regain control over its own currency, oil and economy.
 

Chapter 7, imposed on Iraq by the UN Security Council after Saddam’s invasion of Kuwait in 1991, froze all Iraqi assets in international banks, ordering they be used to compensate victims of the aggression. Besides placing limits on use of its wealth, the sanctions also placed limits on the Iraqi military.
 

One of the biggest advantages of the lifting of the sanctions is the return of all frozen assets to the Iraqi government, estimated at $82 billion, according to Central Bank data.  Its return will not only revitalize the economy, it will strengthen the value of the Iraqi dinar and increase its purchasing power.
 

A few hours after Chapter 7 was lifted, the value of Iraqi dinar increased against other currencies. The exchange rate of dinar is fixed against the dollar, but its value continues to rise. Saif Al-Halafi, an economic and banking expert, expects that the dinar will probably replace the dollar for investments, and that as demand for the dinar rises, so will its value.
 

With Chapter 7 lifted, Iraq also can independently handle its oil revenues without UN supervision. 
 

“The lifting of Chapter 7 against Iraq will enable it to regain independence in its oil policy, and Iraq again can become an important regional and international energy player,” said economic expert, Dr. Rebwar Khinsi. Iraq plans to emerge as one of the world’s biggest oil exporters in 12 years.
 

According to Iraq’s energy plan, oil exports are expected to reach six million barrels per day (bpd) by 2017, elevating the federal budget to $216 billion dollars. The plan aims for exports of nine million barrels bpd by 2020, raising the budget to $324 billion dollars. In 2025, the federal budget will reach 432 million dollars, if Iraq succeeds to export 12 million barrels of oil per day. 
 

Under George Bush’s administration the US government agreed to keep $50 billion belonging to Iraq in America, and Barack Obama’s administration continues to do the same. An estimated $7.8 billion dollars are blocked in Jordan and Lebanon, and a huge amount of capital belonging to Iraqi Airways remains frozen in Kuwait and Jordan.
 

The United Nations Security Council forced Iraq to compensate Kuwait for an estimated $52 billion. Following the first Gulf War, Iraq did not have an independent economic policy, with all of its income administered by Iraq’s development program and supervised by the UN. Five percent of Iraq’s annual oil revenue was allocated to compensating Kuwait. 
 

So far, Iraq has paid $41 billion dollars to Kuwait. According to Iraqi Foreign Minister Hoosyar Zebari, Baghdad is committed to paying the rest of the remaining $11 billion in compensation to Kuwait, and expects to pay off all of its debts by 2015.
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10 hours ago, mylilpony said:

I think synopsis has a very good eye on seeing the part of the article where it clearly stated that things were agreed upon with abadi and trump and abadi didnt come home and really address the issues. Trump is not a patient man and expects results when someone comes asking for money once again in a country where we have spent upwards of a trillion dollars.

 

Thank You for the kudo, MyLilPony!

I really appreciate the deep insights you share, MyLilPony!

I kinda wonder what unpublished clap trap is in Iraq and Iraq's unpublished ties. The clap trap could be what is delaying the implementation of the key items. Fortunately, as you noted, Trump is not a patient man and has the muscle in place to discombobulate whatever elements of the clap trap that are impeding the progress. My gut feel is this will lead to Iran in some surprising ways and more news about the hurt being put on Iran is forthcoming.

I am so surprised the article Yota reposted was from July 7, 2013. I wonder if some major unpublished behind the scenes issues put the kibosh on the post Chapter VII release and is finally getting resolution now with Trump and company.

All in all, it does appear as if the momentum is rapidly increasing.

In the mean time..........................

Go Moola Nova!

:twothumbs:

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19 hours ago, climber7 said:

I was wondering the same thing.

Anyone have an answer?  Which comes first--RV or Chapter 8? 

Just a quick summary of the topic that seems to be a little confusing. Folks Iraq being released from Chapter VII has nothing to do with the RV...I repeat, the release from Chapter VII has nothing to do with the RV of the Dinar...Chapter VII was imposed on Iraq by the UN for the behavior of Saddam Hussein, there was many parts to this Chapter VII an the last to fall was the payment to Kuwait for war damages.

The World Bank and the IMF has set guidelines and stipulations for Iraq to meet in order to reach "Article VIII" but that's a different animal than the UN Chapter VII release. In my opinion it wont take 2 months for the announcement because Iraq has done everything required for their release. I'm guessing it's just a matter of paperwork an the UN actually having a meeting to discuss it. I'm also of the belief that the Dinar could RV before this 2 month time line with or without the TOTAL Chapter VII release...

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Good morning Yota and DV. Thank you taking the time to locate and re-post the 2013 article regarding the release from chapter VII, Yota. And thank you MyLilPony for your detailed synopsis of the facts that have to be followed and as they correlate to the events taking place over the past few weeks through the present day. There certainly are many interesting articles posted just this morning, and I expect that there will be many more in the next several days, and perhaps one or more will contain information that bridges the deficit of information regarding the status of chapter VII when comparing  2013 to 2017. Go RV!!!

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Thanks DoD - I wasn't aware of the differences between the Chapter VII UN constraints when compared to those of the World Bank and the IMF. If all goes well, I will correctly understand how this process is supposed to work and function before a change in rate - but if the latter occurs first, I won't be upset. Go RV!!!

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If the trigger gets pulled within the next 60 days ( sooner than later ), after 14 years of waiting you can bet there will be a very wide eyed, holding my breath in moment due to the sheer SHOCK & AWE of a truly time stands still once in a lifetime event.  !!!!!!!

Than  there is going to be quite allot of hooting & hollering that I do know !!!!!!!!!!!!     

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15 minutes ago, 10 YEARS LATER said:

If the trigger gets pulled within the next 60 days ( sooner than later ), after 14 years of waiting you can bet there will be a very wide eyed, holding my breath in moment due to the sheer SHOCK & AWE of a truly time stands still once in a lifetime event.  !!!!!!!

Than  there is going to be quite allot of hooting & hollering that I do know !!!!!!!!!!!!     

10YL,  Rgr that my friend it will be one hell of a DV Party for sure......:D

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I rarely comment much here, but I am going to say some things here. First, Trump CANNOT in any way cause an R/V in Iraq. He CAN lift any sanctions against Iraq ( if there are indeed any). He can recommend to Abadi and everyone else that it would be in their best interest to do so, but that is about as far as his influence can go. Iraq can and will do whatever they feel is in their own best interests...and do so on their time frame and under their own terms. The U.S. has a vested interest in this country, not only from the thousands of American soldiers lives lost there but from a militarily strategic stance as well. Any country in the middle east can be reached within a couple of hours time from Iraq. Therefore it is in OUR best interests to maintain a presence there...if for no other reason than to keep a finger on the oil pulse. Oil equates to power, and power is what it is all about. Control in any way the oil./money/power in the middle east and you can manipulate much of the civilized world. It is also in Iraq's best interest to encourage our presence their for their own protection. They are poised to become the single biggest powerhouse in that region, and many say the biggest powerhouse on the planet. I recall reading some years back where it was predicted that in time Iraq would become the wealthiest country on this planet. They have the resources to pull this off. At one time Iraq was the cattle producing big shot in the middle, also the wheat and date producing capitol. Plus, Iraq has the one single most valuable commodity in the entire middle east that no other country there has...water! All the oil and silver and gold won't mean squat to a thirsty man!. Personally I think Abadi has done and is doing a stellar job of bringing his country out of the disaster it was and well into the 21st century. I believe he has a plan in place to take care of Maliki in a way that will satisfy the entire world. He isn't blind, nor is he stupid. He HAS to know what this jerk has caused and is still causing, and his end is in the works. Mark my words. I will always believe Maliki is behind this ISIS crap to try and divert attention away from his nefarious actions. He certainly deserves to die a horrible, prolonged and agonizing death. Just my 2 cents. I will now fold away my soap box and retire to my lazy boy for a nap.

 

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