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MAW33326
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Posts posted by MAW33326
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The DFI hasn't been extended. The protection of the funds has via the EO has. Did anyone else catch the fact that Iraq gets full autonomy tomorrow, July 1st? That means today they were still under the DFI.
Thats the way I would see it...
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Dr. Jones' Entry from 06/30/2011
[CLICK HERE TO PRINT THIS PAGE]
06/30/2011
Development Fund of Iraq (DFI) protected for one more year
Today, June 30, 2011 might have been the end of the special US protection of the DFI, the fund through which Iraq's oil revenues are collected and dispersed. But President Obama has extended this protection for another year to protect the fund from lawsuits and damage claims arising from the Saddam era.
http://www.state.gov/r/pa/prs/ps/2011/06/167387.htm
The DFI was originally set up in the UN's oil-for-food program, which was supposed to alleviate the humanitarian crisis caused by the UN sanctions imposed in 1990. Iraq could sell oil, but the revenues were placed in a special bank account administered by the US government, which had the power to decide what types of imports Iraq could purchase from abroad. Those purchases (such as food) were made by the DFI, so that the money remained inaccessible to Saddam Hussein and the Iraqi banks in general.
The DFI received its protection originally on May 22, 2003, shortly after the end of the war that brought down Saddam Hussein. It was done by Executive Order 13303, which was later revised by Executive Order 13364 on Nov. 29, 2004.
This protection is a good thing for today's Iraq; perhaps not so good for those seeking compensation for losses arising out of the Saddam regime's actions.
Executive Order 13303 was issued on May 22, 2003 by United States President George W. Bush to protect the Development Fund for Iraq for the rebuilding of Iraq from any legal attachments or liens. Further, it protects Iraqi oil products and interests and ownership by US persons (defined to include US corporations) from attachment as well. Executive Order 13303 also terminates sanctions specified in EO 12722, EO 12724, EO 13290, as it applies to the development fund. In effect, EO 13303 provides an extraordinarily broad legal shield for any and all contractors and mercenaries working in Iraq on behalf of US corporations in any oil related enterprise....
The primary effect of EO 13303 is the legal protection of US oil companies. EO 13303 is part of a broader endeavor by the Bush administration to exert control over Iraqi oil revenues.
http://en.wikipedia.org/wiki/Executive_Order_13303
Implications:
While I do not know all the implications of this, it is certain that it is positive for Iraq. It will allow Iraq to emerge from chapter vii sanctions without being immediately hit with foreign lawsuits. Tomorrow is the day that Iraq is supposed to get back its sovereignty after the time was extended from last December.
There are many conflicting reports, so it is difficult to sort out everything without being an active participant in the legal process. These high up officials simply do not explain things to the ordinary people unless they have to. But it is said that Iraq is scheduled to repay its first installment of debt to the Paris Club on July 11, 2011. It is also said that their currency must be revalued in order to make that payment feasible. I do not have enough proof to confirm this, but if it is true, then it would follow that Iraq must revalue its dinar very soon.
It does not appear that this year-long extension of National Emergency will make it impossible for Iraq to revalue its currency. In fact, it appears that the opposite is the case. This Executive Order is designed to protect Iraq's monetary resources--although it also may benefit the US government, as it will have access to the fund and may be able to use it to prop itself up. So goes the criticism in the Wikipedia article above.
http://www.gods-kingdom-ministries.org/weblog/WebPosting.cfm?LogID=2761
Duplicate post, also look at the more recent post from the UN, which way do we go George which way do we go???
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30 June 2011 –
The Security Council today welcomed the Iraqi Government’s assumption of full autonomy, with effect from tomorrow, over the proceeds of a development fund set up after the 2003 United States-led invasion to meet the country’s humanitarian needs, economic reconstruction and infrastructure repairs.
In a press statement, the Council welcomed the Government’s establishment of a successor arrangement for the transition of the Development Fund for Iraq, in line with the United Nations body’s resolution 1956, adopted last year.
“The members of the Security Council noted that, in this regard, oversight of the full proceeds from the Development Fund for Iraq has been transferred from the International Advisory and Monitoring Board to the Government of Iraq’s Committee of Financial Experts, which will exercise authority in accordance with its terms of reference approved by Iraq’s Council of Ministers,” according to the statement, read out by Ambassador Alfred Moungara Moussotsi of Gabon, which holds the Council’s presidency in June.
The Council reiterated its appreciation of the ongoing efforts and commitment of the Iraqi Government to ensure that oil revenues are used in the interest of the country’s people, and to ensure that transition arrangements remain consistent with the constitution and with international best practices with regard to transparency, accountability and integrity.
“The members of the Security Council underscored the importance of Iraq’s continued compliance with relevant [security Council] resolutions,” the statement added.
The Council set up the trust fund in May 2003 so that oil and other revenues could be paid into it, to be disbursed at the discretion of the then US-led Provisional Authority for humanitarian and economic reconstruction, replacing the previous oil-for-food programme that allowed the sanctions-bound government of Saddam Hussein to use some oil revenues for the monitored purchase of humanitarian supplies.
http://www.un.org/apps/news/story.asp?NewsID=38907&Cr=iraq&Cr1=
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Excuse me, what are us poor people losing to the rich? Without the "rich", there would be no jobs for the poor. Currently we are a nation of unemployed but that is not the "rich" people's fault. They did not grind the economy to a screeching halt - it does not put money in their bank accounts for their businesses to shut down. I'm just an old woman but I have been responsible for my families finances for the last 50+ years and anyone with a brain knows that when you are out of money, you stop spending! AND our constitution does not say that the federal government should take care of everyone from cradle to grave or that our borders should be thrown open to every illegal immigrant that wishes to enter and take advantage of our taxpayer funded, health, education, and welfare.
Stepping down from my soapbox now - and I apologize if anyone is offended - sometimes you just have to speak your mind (especially at my age!).
Nice Post, well said
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I have NO CLUE if this is good or bad for us but being a positive thinker I can only say that I am going to continue to say there is allways tomorrow this may just be a front to help give them more time.
GO RV!!! MakeMeRich!!!!!
No more time, shes ready to POP Go RV!!!
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Thanks for the post, to me it's just giving them additional protection which was to be expected, they weren't going to make Iraq vulnerable to creditors at this point given what we have invested in them! It doesn't mean that they still aren't going to implement the change to their currency soon. Go RV!!
I agree, plus it gives the gov 100% reason to deny owning pallets of dinar. Go RV!!!! Adam said this kind of stuff was going to happen prior to rv....
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Media Note
Office of the Spokesperson
Washington, DC
June 30, 2011
The United States has completed its evaluation of Iraq's ongoing efforts to finalize the full and effective transition to a post-Development Fund for Iraq mechanism by June 30, 2011. Recognizing positive developments in this regard, including progress in resolving outstanding debts and claims arising from actions of the previous regime, and in accordance with the President’s May 17, 2011 Notice on the Continuation of the National Emergency with Respect to the Stabilization of Iraq, the President has determined to continue these arrangements for the full twelve month period ending on May 20, 2012. As a result, the prohibitions contained in Executive Order 13303 of May 22, 2003, as amended by Executive Order 13364 of November 29, 2004, on any attachment, judgment, decree, lien, execution, garnishment, or other judicial process with respect to the Development Fund for Iraq, the accounts, assets, and property held by the Central Bank of Iraq, and Iraqi petroleum-related products, which are in addition to the sovereign immunity accorded Iraq under otherwise applicable law, will remain in effect until May 20, 2012. Iraq has made significant strides in resolving its outstanding international liabilities and continues to work towards returning Iraq to the international standing it held prior to the Saddam Hussein regime.
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Nice catch.....
very very good sign indeed.... Keep the fingers crossed people and hold on.....-
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yeah thats correct the Warka site is down .... your link is good it's their site thats the problem.
Sweeeetttttttttt
Makes me a happy camper.....Now if the cbi site would just go down we would be all smiling.
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What is the new link to the warka website. The one i have says bandwidth exceeded???
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DO YOU THINK JUST MAYBE THAT WHEN THEY PRINTED THEIR NEW CURRENCY LAST TIME THEY HAD ALREADY PLANNED ON THIS FOR THE FUTURE AND PRINTED THE NEW CURRENCY AND HAS BEEN SITTING IN THE VALTS WAITING TO BE RELEASED
I would have to say so, my friend. Its all planned out from the beginning.
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11:51 27 GIU 2011
(AGI) Ramadi - Iraqi security forces have captured a leader of Al Qaeda in al-Anbar province, west of Baghdad. Provincial police chief, General Hadi Arzayish, reported the arrest of the man is known by the nickname of Minister of Electricity of the Islamic State of Iraq. . .
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There is no lop people, Iraq would lose its butt.
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Smoke and mirror campaign, we will be seeing many of these coming out.
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Comment this article Iraq News
Iraq’s Central Bank to delete zeros from Iraqi currency.
Saturday, June 25, 2011 09:23 GMTIraq’s Central Bank announced on Thursday that it is planning to delete the zeros from the Iraqi currency.
This step is one of the bank’s strategic missions; the Central Bank said adding that the new currency will include the Kurdish language in addition to the Arabic language.
“The zeros that were added to the Iraqi currency previously constituted a large money supply up to 28.500 trillion Iraqi Dinar and 5 trillion banknotes”, the adviser of Iraqi Central Bank governor Mothahhar Mohammed Saleh told Alsumarianews.
“The Central Bank has prepared all requirements needed to delete the zeros from the Iraqi Currency”, Saleh said.
“This step is one of the Iraqi central bank’s strategic missions. The monetary policy of the bank aims to structure and reduce the currency in a country moving towards an economic phase”, he added.
“The project of deleting zeroes is complete. It will be submitted to the central bank’s administration in the next session. Then, it will be passed to the ministerial council before presenting it to the Parliament for vote. The mechanisms of changing the currency will be gradual. It will be preceded by awareness campaigns for citizens”, the adviser of Iraqi Central Bank governor said.
“The new currency will be printed after deleting the zeros and will include the Kurdish language in addition to the Arabic language. It will bear as well photos of Iraq’s civilizations and patrimony in addition to symbols of Iraqi intellectuals and figures”, Saleh noted.
On June 19, Iraq’s Central Bank Governor Sanan Al Shebeibi affirmed during the meeting of independent commissions with Prime Minister Nuri Al Maliki that the bank is preparing all requirements needed to replace the Iraqi Currency.
Iraq’s Central Bank has four branches including Basra, Sulaimaniah, Arbil and Mosul. It was founded as an Iraqi independent bank by virtue of Iraq’s Central Bank Law issued on March 6, 2004.
The bank is responsible for the prices stability and the implementation of monetary policy including exchange rates, the management of foreign reserves, the issuance of currencies and the organization of the banking sector.
Common sense here, It says that it will be printed after the deleting of the 000's. The new denoms would have to already be printed in order for them to do this, or there would be no currency. IMO, it will be phased out over time, the new denoms are already in place.
Unfortunately, the translations are so loose that any given paragraph can be twisted 5 different ways to supposedly mean 5 different things. Gee, I wonder why the word "propaganda" slipped out of Shabbs' mouth when he spoke at the UN?
We just have to sit and wait. This play was written a long time ago and the authors are in complete control.
Peace
So true, its like trying to translate a Nostradamus quatrain lol
And you see this part
“The project of deleting zeroes is complete. It will be submitted to the central bank’s administration in the next session. Then, it will be passed to the ministerial council before presenting it to the Parliament for vote. The mechanisms of changing the currency will be gradual. It will be preceded by awareness campaigns for citizens”, the adviser of Iraqi Central Bank governor said.
Read more: http://dinarvets.com.../#ixzz1QQDXBv9g
How can it be complete i still have 79 million And the 30,000 members of this site probably have 1-10 million apiece .
So are they lying or talking about the past what they did after Sadom .You be the judge
because the product of deleting zeros ant complete
Good post
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Does anyone have a real link to this? Shouldn't this be in the rumor section. It's from that other site that links back to them and not a reliable news source.
This is the rumors section....
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I wouldn't say "We" because personally I did not vote for him. That is another story for another day. The other half of your quote I can relate too..
I meant "WE" the people, and we did, i myself voted otherwise, but we the system did, like it or not.
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BSA confirmed that he will be handed over files to the Development Fund for Iraq Committee financial experts after the end of the mandate of the International Advisory and Monitoring on the basis of Security Council resolution No. 1956 in 2010.
An official source in the bureau, said the Iraqi side will host the last meeting of the International Advisory and Monitoring in the Jordanian capital, Amman brief summary on Thursday 30/6/2011. The source added that the meeting will be attended by President of the Board of Supreme Audit and Chairman of the Committee of Financial Experts, members of the Council of the International Advisory and Monitoring Board, and representatives of the Secretary-General of the United Nations and the International Monetary Fund and the World Bank and the Arab Fund for Economic and Social Development, as well as the representative of Iraq at the International Council.
The Development Fund for Iraq was established after 1995 when the UN Security Council decided to allow Iraq to export oil for food program.
Bogus or not???? Dont know what to believe anymore but go RI
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The UST did not purchase this dinar.....Iraq put this money into our federal reserve to gain interest on....its NOT the property of the US at all....its only to help facilitate Iraqs growth in their economy....
I think this is where most people get the idea that the US bought massive amounts of dinar for the purposes of currency speculation....and to pay off our debt.....the US reserve isent even a part of the US govt.....
You are refering to the IDF(Iraqi Development Fund), which is all the sales from oil that was not used for basic necessities. Part of the sanctions to be lifted on the 30th....
Our gov is sitting on pallet loads my friend. We are safe.....
MAW33326 Very good post and gov conspiracy theories? I have been around for 64 years and 50 of them I believe the govt is try to make the citizens poor. We are the richest country in the world, but lately we a lossing the race to stay there. When we have people living on the street and not knowing where their next pay check is coming from or food. If I remember correctly 40 years you did not have people living on the streets, only on the Bowery in NYC, that I can remember. It has got worse these big companies they bail out, what happen with ENRON they just let them go down the drain. In the past 20 years I have been living in Europe because of my work. I could not imagin living in the GOOD OLD US OF A again, until something changes. Maybe we need more women in politics like many of the EU Countries. I sure we this RV HAPPENS some one in the Obama Administration will take the credit for it. Just remember Nov 2012 is just right around the cornor.
I just hope its not too late..... Go RI...
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I do wish this administration would figure out that cutting back on spending will contribute to fixing the problem.
So you have a budget that you consistently overspend so that you are in debt. You get a windfall that pays off your debt. If you don't cut back your spending to your budgeted amount, what happens??? DOH!!! How about a surplus for a change, or a rainy day account?!?!? How about removing some of the excess bills that have been printed!
**steps down off of her soapbox***
Because they want us on our knees, relying on the gov. They are probably banking that 70% or more of the people in this investment will blow through it. The gov will have all the money and power, it will be credited to the so called "health care bill" which intends to put us broke. Hence 99% of Americans rely on the government for everything. They are like wolves guiding the sheep, again in my opinion.
That's his plan. Nothing is getting done until now. Funny how it is election year.. I hope people are not that stupid????
We put him there, didnt we? Well I cant blame Obama, all he is is a face to keep the people happy, thats it. Its the big dogs that run the place, i worry about.
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Under Bush, the US Treasury purchased $4-5 Trillion in new ID in 2004. If the ID RV at 3.3 to 1, that $4 Trillion will turn into $15 Trillion or enough for Obama to take credit for paying off the Nat'l debt.
http://www.infowars.com/articles/iraq/iraq_deposits_5_billion_into_us_fed_reserve.htm
They wont make it look that obvious, It will come in the form of new stimulus plans or something of that sort. My guess is, our fine gov will give the credit to the health care bill, that is designed to cripple the nation, as to ensure it stays enacted. Just my opinion....
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Ok, Is it me or am I just really big on gov conspiracy theories? I was doing further research on the Greece dilema, about to fault, The Us dollar is set to plummet because of the end of QE2...
Quantum Easing is scheduled to end June 28th, here in the United States. Quantum Easing, is a slick government word for printing more money and pumping it into the markets, giving markets a false sense of security. But in reality its like kicking your problem down the road. The more money printed the less valuable it is.... supply and demand.....and boy oh boy have they been printing. Thats why gas, oil and basically everything has been going up, it takes more dollars to purchase something because its not worth as much.
So with QE2 set to expire on June 28th, 2011 and if an RV or better an RI occurs around that date and the banks hand out all this cash, causing an instant stimulus across the world, like a super steroid shot to the world economy. The US government owns its share of this investment, they would not default, without cutting on spending.
Plus all these wealthy people out there spending money on things they would have never bought before, on top of 30-35% taxes, which i am sure most governments will be trying to get a hold of.
Everyones happy.....
It would be the only scenario that could possibly counter act the dollar/Euro plummeting and sending us into a 10x worse Worldwide Great Depression.
Kind of like the Perfect Storm, very well orchestrated in my opinion, dont you think?
Maybe thats why the June 30th date is so important?
And after all is said and done, who will stand up and bow?
Hmmmmmmmmmmmmmm makes you think doesnt it.... Im just glad we are a part of the solution
Just an Opinion, all opinions on this matter welcome
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Thanks for the vid.....Go RI
News from Warka
in Iraq & Dinar Related News
Posted
I have seen the 11th of July as a key date elsewhere also.