Iraq was DENIED exit from Chapter 7 today!!

[lone ranger]

whatever

[Snatcher]

I like the article also because it clarifies that the article which some believe ,about extending chapter 7 until june isn't correct. It states that "Council members also supported Mr. Ban’s recommendation to extend the financing of the activities of Mr. Tarasov for another six months" .It also says nothing about Denying exit from Chapter 7? It stated,"the 15-member body voiced concern that “no substantial progress” has been made towards clarifying the fate of the archives and that previous calls for greater efforts had yielded limited results". I still strongly believe that we are days to weeks away from an RV/RI/RD.

[Abarvets]

Nothing. The press release was the same as they released in June! It was also released Dec 12, then today.

right on the money here. If anyone wants to read it Brisco posted a thread on this and has links to both releases. Remember they are just for information and not an official record!

[Hawaii 50]

Yep......CH7 doesnt matter....who cares what happens with that?? LOL I just wanna get paid....

Chapter 7 garb! Iraq just wants out ! They want it there way or no Rv but like a stubborn kid they will eventually have to give in. The risk for super hyperinflation is to large They have a budget set for 2012 and everyone wanting to invest in Oil and natural gas. Iraq just needs to move forward and stop living in the past and join the rest of the world.

[JayP]

You are correct easy. Being out of Chapter 7 is not required to RV, however, Iraq is trying to use the RV as a bargaining chip to get them out of Chapter 7. They are holding it for ransom so to speak.

This is another false story that a few of the gurus out there try to tell people. The fact is, if anyone tries to find this anywhere that it shows that this is true, then you would see that this cannot be proven. I heard a particular person say this the other night as well, but the fact of the matter, is that I would love to see if anyone can actually come up with any evidence, or anything that shows that this is actually a true statement that they are using this as a bargaining chip. I think that in the attempt to try to validate such a claim, it would be proven that this is just a made up claim by someone. That said though, if someone did find something that proves this to be true, then it would be something pretty interesting to consider!

[Luigi1]

I dont get why people continue to see if they arent out of capter 7 means they cant RV? please show me the sanctions that are required for them to raise the value of a countries currency hasnt Iraq already revalued a little throughout the years. Point being the CBI is its own entity and to me Chapter 7 exit has no bearing on a countries revaluation of a currency. Please correct me if im wrong and show me some documentaion that states otherwise.

It can RV in Chapter 7 but it would not be in the best interests of Iraq to do so. Under Chapter 7, the IQD will still be a non tradeable currency not accepted by the world community. If it did RV then it would end up costing Iraqi more to pay it's obligations. Kinda like cashing in your bonds before maturity.

[keepmwlknfny]

It can RV in Chapter 7 but it would not be in the best interests of Iraq to do so. Under Chapter 7, the IQD will still be a non tradeable currency not accepted by the world community. If it did RV then it would end up costing Iraqi more to pay it's obligations. Kinda like cashing in your bonds before maturity.

Ch7 doesnt make the dinar non-tradeable either.....matter of fact, it is being traded, its just not internationally accepted everywhere....still a non-convertible currency....

[RicknSaudi]

As I have said in the first post on this subject & MODs their seems to be an awful lot of the same posts on DV, perhaps you should remove many of them regarding the same thing

My take is this

Thanks for the post

My personal view of this is

Now chapter 7 will remain in place for a further 6 months so we will see no RV/Ri or what ever you wish to call it until the latest June 2012.

Personally I think that Kuwait & the UN has set an impossible goal for Iraq to achieve & again Kuwait is rolling around like a pig in mud enjoying every moment that Iraq is under the Chapter 7.

Lets be honest the Kuwait invasion was over 11 years ago, an invasion is just as good as war, did the UK, USA & other allies in the first & second world war hold Germany to ransom for the location of the many of thousands lost in battle.

It has to be physically impossible for Iraq to achieve such goals as the UN & Kuwait suggest.

I fully understand the material artefacts, airplanes lost or damaged & so on but how the heck is Iraq going to pin point every Kuwait’s Nationals lost in the invasion after nearly 12 years

Just my opinion but I do think we are all going to be on the rollercoaster for most of 2012 if not part of 2013 as well

On the up side I was informed when I invested in the IQD not to expect any return for 10 years, I am now on my 8th year & counting down

Sorry to be such a downer but its better to face the music rather than whistle a tune.

:lol: "...Pig in the mud...". I love that analogy! :lol:

[maddenchamp22]

This is another false story that a few of the gurus out there try to tell people. The fact is, if anyone tries to find this anywhere that it shows that this is true, then you would see that this cannot be proven. I heard a particular person say this the other night as well, but the fact of the matter, is that I would love to see if anyone can actually come up with any evidence, or anything that shows that this is actually a true statement that they are using this as a bargaining chip. I think that in the attempt to try to validate such a claim, it would be proven that this is just a made up claim by someone. That said though, if someone did find something that proves this to be true, then it would be something pretty interesting to consider!

I don't believe you're going to find "proof" of an impending RV anywhere. I'm not saying I believe the bargaining chip statement to be 100% true but it's plausible. Happy Holidays to all.........

[GinaG]

AHHHHHHHHHHHHHH! I feel a little better.

[wpsmit]

I don't believe you're going to find "proof" of an impending RV anywhere. I'm not saying I believe the bargaining chip statement to be 100% true but it's plausible. Happy Holidays to all.........

I think the bargaining chip goes both ways. Iraq desperately wants out of ch7, but the UN security council is telling them to fulfill their obligations and also RV or you'll never get out. The sanctions are the only real guarantors that the UNSC has to insure that the RV happens.

[sourpuss]

Actually I wonder if this might not be good. Iraq has been dinking along. They have basically been doing what they want and blowing off everyone else. Now maybe they received a message that they need to get their heads out of their butts and actually start finishing some things.

I get it..like parenting and when they are teens you gotta do the "tough love" thing.

[cajunrescuemedic]

If they can RV without the U.N. Chapter 7 sanctions lifted, then the better. As long as they RV soon. I'm sure everyone agrees with me. Let's get this done...Go RV !!!

[Anti This Anti That]

Iraq must be out of chapter 7 in order to do what section V Five states here in this SFA, so somebody is pulling someone's string, and blowing smoke and mirrors.

Strategic Framework Agreement for a Relationship of Friendship and Cooperation between the United States of America and the Republic of Iraq

Preamble

The United States of America and the Republic of Iraq:

1. Affirming the genuine desire of the two countries to establish a long- term relationship of cooperation and friendship, based on the principle of equality in sovereignty and the rights and principles that are enshrined in the United Nations Charter and their common interests;

2. Recognizing the major and positive developments in Iraq that have taken place subsequent to April 9, 2003; the courage of the Iraqi people in establishing a democratically elected government under a new constitution; and welcoming no later than December 31, 2008, the termination of the Chapter VII authorization for and mandate of the multinational forces in UNSCR 1790; noting that the situation in Iraq is fundamentally different than that which existed when the UN Security Council adopted Resolution 661 in 1990, and in particular that the threat to international peace and security posed by the Government of Iraq no longer exists; and affirming in that regard that Iraq should return by December 31, 2008 to the legal and international standing that it enjoyed prior to the issuance of UNSCR 661;

3. Consistent with the Declaration of Principles for a Long-Term Relationship of Cooperation and Friendship Between the Republic of Iraq and the United States of America, which was signed on November 26, 2007;

4. Recognizing both countries' desire to establish a long-term relationship, the need to support the success of the political process, reinforce national reconciliation within the framework of a unified and federal Iraq, and to build a diversified and advanced economy that ensures the integration of Iraq into the international community; and

5. Reaffirming that such a long-term relationship in economic, diplomatic, cultural and security fields will contribute to the strengthening and development of democracy in Iraq, as well as ensuring that Iraq will assume full responsibility for its security, the safety of its people, and maintaining peace within Iraq and among the countries of the region.

Have agreed to the following:

Section I: Principles of Cooperation

This Agreement is based on a number of general principles to establish the course of the future relationship between the two countries as follows:

1. A relationship of friendship and cooperation is based on mutual respect; recognized principles and norms of international law and fulfillment of international obligations; the principle of non-interference in internal affairs; and rejection of the use of violence to settle disputes.

2. A strong Iraq capable of self-defense is essential for achieving stability in the region.

3. The temporary presence of U.S. forces in Iraq is at the request and invitation of the sovereign Government of Iraq and with full respect for the sovereignty of Iraq.

4. The United States shall not use Iraqi land, sea, and air as a launching or transit point for attacks against other countries; nor seek or request permanent bases or a permanent military presence in Iraq.

Section II: Political and Diplomatic Cooperation

The Parties share a common understanding that their mutual efforts and cooperation on political and diplomatic issues shall improve and strengthen security and stability in Iraq and the region. In this regard, the United States shall ensure maximum efforts to work with and through the democratically elected Government of Iraq to:

1 support and strengthen Iraq's democracy and its democratic institutions as defined and established in the Iraqi Constitution, and in so doing, enhance Iraq's capability to protect these institutions against all internal and external threats.

2.Support and enhance Iraq's status in regional and international organizations and institutions so that it may play a positive and constructive role in the international community.

3.Support the Government of Iraq in establishing positive relations with the states of the region, including on issues consequent to the actions of the former regime that continue to harm Iraq, based on mutual respect and the principles of non-interference and positive dialogue among states, and the peaceful resolution of disputes, without the use of force or violence, in a manner that enhances the security and stability of the region and the prosperity of its peoples.

Section III: Defense and Security Cooperation

In order to strengthen security and stability in Iraq, and thereby contribute to international peace and stability, and to enhance the ability of the Republic of Iraq to deter all threats against its sovereignty, security, and territorial integrity, the Parties shall continue to foster close cooperation concerning defense and security arrangements without prejudice to Iraqi sovereignty over its land, sea, and air territory. Such security and defense cooperation shall be undertaken pursuant to the Agreement Between the United States of America and the Republic of Iraq on the Withdrawal of United States Forces from Iraq and the Organization of Their Activities during Their Temporary Presence in Iraq.

Section IV: Cultural Cooperation

The Parties share the conviction that connections between their citizens, forged through cultural exchanges, educational links and the exploration of their common archeological heritage will forge strong, long lasting bonds of friendship and mutual respect. To that end, the Parties agree to cooperate to:

1. Promote cultural and social exchanges and facilitate cultural activities, such as Citizens Exchanges, the Youth Exchange and Study Program, the Global Connections and Exchange (GCE) program, and the English Language Teaching and Learning program.

2. Promote and facilitate cooperation and coordination in the field of higher education and scientific research, as well as encouraging investment in education, including through the establishment of universities and affiliations between Iraqi and American social and academic institutions such as the U.S. Department of Agriculture's (USDA's) agricultural extension program.

3. Strengthen the development of Iraq's future leaders, through exchanges, training programs, and fellowships, such as the Fulbright program and the International Visitor Leadership Program (IVLP), in fields including science, engineering, medicine, information technology, telecommunications, public administration, and strategic planning.

4.Strengthen and facilitate the application process for U.S visas consistent with U.S. laws and procedures, to enhance the participation of qualified Iraqi individuals in scientific, educational, and cultural activities.

5. Promote Iraq's efforts in the field of social welfare and human rights.

6. Promote Iraqi efforts and contributions to international efforts to preserve Iraqi cultural heritage and protect archeological antiquities, rehabilitate Iraqi museums, and assist Iraq in recovering and restoring its smuggled artifacts through projects such as the Future of Babylon Project, and measures taken pursuant to the U.S. Emergency Protection for Iraqi Cultural Antiquities Act of 2004.

Section V: Economic and Energy Cooperation

Building a prosperous, diversified, growing economy in Iraq, integrated in the global economic system, capable of meeting the essential service needs of the Iraqi people, as well as welcoming home Iraqi citizens currently dwelling outside of the country, will require unprecedented capital investment in reconstruction, the development of Iraq's extraordinary natural and human resources, and the integration of Iraq into the international economy and its institutions. To that end the Parties agree to cooperate to:

1.Support Iraq's efforts to invest its resources towards economic development, sustainable development and investment in projects that improve the basic services for the Iraqi people.

2. Maintain active bilateral dialogue on measures to increase Iraq's development, including through the Dialogue on Economic Cooperation (DEC) and, upon entry into force, the Trade and Investment Framework Agreement.

3. Promote expansion of bilateral trade through the U.S.-Iraq Business Dialogue, as well as bilateral exchanges, such as trade promotion activities and access to Export-Import Bank programs.

4. support Iraq's further integration into regional and international financial and economic communities and institutions, including membership in the World Trade Organization and through continued Normal Trade Relations with the United States.

5. Reinforce international efforts to develop the Iraqi economy and Iraqi efforts to reconstruct, rehabilitate, and maintain its economic infrastructure, including continuing cooperation with the Overseas Private Investment Corporation.

6. Urge all parties to abide by commitments made under the International Compact with Iraq with the goal of rehabilitating Iraq's economic institutions and increasing economic growth through the implementation of reforms that lay the foundation for private sector development and job creation.

7. Facilitate the flow of direct investment into Iraq to contribute to the reconstruction and development of its economy.

8. Promote Iraq's development of the Iraqi electricity, oil, and gas sector, including the rehabilitation of vital facilities and institutions and strengthening and rehabilitating Iraqi capabilities.

9. Work with the international community to help locate and reclaim illegally exported funds and properties of Saddam Hussein's family and key members of his regime, as well as its smuggled archeological artifacts and cultural heritage before and after April 9, 2003.

10. Encourage the creation of a positive investment environment to modernize Iraq's private industrial sector to enhance growth and expand industrial production including through encouraging networking with U.S. industrial institutions.

11. Encourage development in the fields of air, land, and sea transportation as well as rehabilitation of Iraqi ports and enhancement of maritime trade between the Parties, including by facilitating cooperation with the U.S. Federal Highway Administration.

12. Maintain an active dialogue on agricultural issues to help Iraq develop its domestic agricultural production and trade policies.

13. Promote access to programs that increase farm, firm, and marketing productivity to generate higher incomes and expanded employment, building on successful programs by the USDA and the USAID programs in agribusiness, agriculture extension, and policy engagement.

14. Encourage increased Iraqi agricultural exports, including through policy engagement and encouraging education of Iraqi exporters on U.S. health and safety regulations.

Section VI: Health and Environmental Cooperation

In order to improve the health of the citizens of Iraq, as well as protect and improve the extraordinary natural environment of the historic Lands of the Two Rivers, the Parties agree to cooperate to:

1.Support and strengthen Iraq's efforts to build its health infrastructure and to strengthen health systems and networks.

2. support Iraq's efforts to train health and medical cadres and staff.

3. Maintain dialogue on health policy issues to support Iraq's long-term development. Topics may include controlling the spread of infectious diseases, preventative and mental health, tertiary care, and increasing the efficiency of Iraq's medicine procurement system.

4. Encourage Iraqi and international investment in the health field, and facilitate specialized professional exchanges in order to promote the transfer of expertise and to help foster relationships between medical and health institutions building on existing programs with the U.S. Department of Health and Human Services, including its Centers for Disease Control and Prevention.

5. Encourage Iraqi efforts to strengthen mechanisms for protecting, preserving, improving, and developing the Iraqi environment and encouraging regional and international environmental cooperation.

Section VII: Information Technology and Communications Cooperation

Communications are the lifeblood of economic growth in the twenty-first century, as well as the foundation for the enhancement of democracy and civil society. In order to improve access to information and promote the development of a modern and state of the art communications industry in Iraq, the Parties agree to cooperate to:

1. support the exchange of information and best practices in the fields of regulating telecommunications services and the development of information technology policies.

2. Exchange views and practices relating to liberalizing information technologies and telecommunications services markets, and the strengthening of an independent regulator.

3. Promote active Iraqi participation in the meetings and initiatives of the Internet Governance Forum, including its next global meetings.

Section VIII: Law Enforcement and Judicial Cooperation

The Parties agree to cooperate to:

1. support the further integration and security of the Iraqi criminal justice system, including police, courts, and prisons.

2. Exchange views and best practices related to judicial capacity building and training, including on continuing professional development for judges, judicial investigators, judicial security personnel, and court administrative staff.

3. Enhance law enforcement and judicial relationships to address corruption, and common transnational criminal threats, such as terrorism, trafficking in persons, organized crime, drugs, money laundering, smuggling of archeological artifacts, and cyber crime.

Section IX: Joint Committees

1. The Parties shall establish a Higher Coordinating Committee (HCC) to monitor the overall implementation of the Agreement and develop the agreed upon objectives. The committee shall meet periodically and may include representatives from relevant departments and ministries.

2. The Parties shall seek to establish additional Joint Coordination Committees (JCCs), as necessary, responsible for executing and overseeing this Agreement. The JCCs will report to the HCC and are to:

a. Monitor implementation and consult regularly to promote the most effective implementation of this Agreement and to assist in dispute resolution as necessary;

b. Propose new cooperation projects and carry out discussions and negotiations as necessary to reach an agreement about details of such cooperation; and

c. Include other governmental departments and ministries for broader coordination from time to time, with meetings in Iraq and the United States, as appropriate.

3. Disputes that may arise under this Agreement, if not resolved within the relevant JCC, and not amenable to resolution within the HCC, are to be settled through diplomatic channels.

Section X: Implementing Agreements and Arrangements

The Parties may enter into further agreements or arrangements as necessary and appropriate to implement this Agreement.

Section XI: Final Provisions

1. This Agreement shall enter into force on January 1, 2009, following an exchange of diplomatic notes confirming that the actions by the Parties necessary to bring the Agreement into force in accordance with the respective constitutional procedures in effect in both countries have been completed.

2. This Agreement shall remain in force unless either Party provides written notice to the other of its intent to terminate this Agreement. The termination shall be effective one year after the date of such notification.

3. This Agreement may be amended with the mutual written agreement of the Parties and in accordance with the constitutional procedures in effect in both countries.

4. All cooperation under this Agreement shall be subject to the laws and regulations of both countries.

Signed in duplicate in Baghdad on this 17th day of November, 2008, in the English and Arabic language, each text being equally authentic.

http://www.globalsecurity.org/military/library/policy/national/iraq-strategic-framework-agreement.htm

Edited December 16, 2011 by Anti This Anti That

[DinarBot]

No Touchy Iraq Money. Reserves still protected. Nice. Desert Vultures are Circling.

[hpygrl]

Here is the link to the actual statement from the UN

http://www.un.org/apps/news/story.asp?NewsID=40749&Cr=iraq&Cr1=

I didn't see anything here that stated anything about sanctions, Chap VII or otherwise.

[speculatorsRIDE]

You are correct easy. Being out of Chapter 7 is not required to RV, however, Iraq is trying to use the RV as a bargaining chip to get them out of Chapter 7. They are holding it for ransom so to speak.

My apologies. I should have included "IMO" on this post.

[speculatorsRIDE]

This is another false story that a few of the gurus out there try to tell people. The fact is, if anyone tries to find this anywhere that it shows that this is true, then you would see that this cannot be proven. I heard a particular person say this the other night as well, but the fact of the matter, is that I would love to see if anyone can actually come up with any evidence, or anything that shows that this is actually a true statement that they are using this as a bargaining chip. I think that in the attempt to try to validate such a claim, it would be proven that this is just a made up claim by someone. That said though, if someone did find something that proves this to be true, then it would be something pretty interesting to consider!

If you are implying that I am a guru/pumper, then let me assure you that I couldn't care less if you or anyone decides to buy more IQD. I have no affiliation with any dealers or gurus and will not profit one dime from any dinar purchases made by anyone besides myself.

As for looking for proof of my original assertion that Iraq is using the RV as a bargaining chip to secure their release from Ch 7 sanctions, good luck! To me it is common sense that is their intentions. It is my opinion. Take it as nothing more then that. Now that the last American troops have left Iraq, it is and has been my opinion that we should see the completion of many of the items remaining that are holding up the RV. Again, please keep in mind that every post in every topic except for the news topic are opinions and that would include every post replying to the original news article with a link. You may not agree with my opinion, and that's fine. That is the whole reason for having a dinar site. It allows us to debate and break down information and opinions. That's the reason we are all here isn't it?

[joseroque]

I don't know where anyone would get the idea that Iraq is using the RV as a bargaining chip!! This opinion is way off the mark. Shabibi knows that they have to RV in order to keep inflation in check. When will he do it? He's the only one that knows!! I also agree with all those out there who stated that Iraq does not have to be released from of chapter 7 in order to RV the dinar. These two events are mutually exclusive!

[keepmwlknfny]

Shabibi knows that they have to RV in order to keep inflation in check.

There are many ways to control inflation, but it would not be what we are expecting if they raise the value to try and fight it.....if they RVd to any significant amount, it would only add major inflation.....so I wouldnt look for a RV to control the inflation, Im not even sure how often that has actually been done...