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I just wanted to weight in a little bit on this whole topic of discussion where the lifting of the zeros is no longer an immediate agenda item in Iraq. Has anyone noticed that this has not come from the mouth of the central bank from any article I've read? If there is an article, can someone please post a link. It has come from economist and ministers from what I've been seeing, and this, to me, means nothing. I am not certain if the politicians there are having a difficult time accepting it for what it is but the CBI is not under the jurisdiction of the GOI....PERIOD. The GOI keeps weighing in as if they have some say so or jurisdiction.

From all of the history I've studied on banking and central banks, they are always independent, private and not under the control of any government. This is why it is laughable when i read articles here in the state of the President suggesting who should sit on the board of the Federal Reserve. It's just smoke to make Americans think we have some say so into monetary policy construed by the banking powers but we don't. Same with Iraq. Shabibi is untouchable and does not answer to them but they continue to come out with all of these articles as if they are steering monetary policy in that country.

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I thought that the parliment was actually in charge of restructuring the currency, because the CBI doesn't pay for it. If this is the case then the article could very well be valid. Other than that Shabibi is the lone ranger.

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The cbi needs. approval to issue a new currency....the cbi doesnt need approval to just issue lower denoms in the current class of currency. We dont want a new currency. this is awesome news

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The cbi needs. approval to issue a new currency....the cbi doesnt need approval to just issue lower denoms in the current class of currency. We dont want a new currency. this is awesome news

That's what I thought. Thanks for confirming. :)

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As I stated on another thread.

Indisputable fact:

Council of Ministers do NOT HAVE THE AUTHORITY TO MAKE THAT DECISION.

PERIOD. END OF DEBATE!!!!

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As I stated on another thread.

Indisputable fact:

Council of Ministers do NOT HAVE THE AUTHORITY TO MAKE THAT DECISION.

PERIOD. END OF DEBATE!!!!

Out of curiosity... what is so indisputable about your "fact" other than "you say so"?

I'm not saying you are right or wrong, I'm just looking for the "indisputable" part of it.

(P.S. YELLING doesn't make you right, nor does it convince people. It actually makes you look a little crazy when you start yelling in the middle of a conversation. :twocents: )

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WHY DOSE EVERYONE SEE'S MALIKI AS THE BAD GUY IF HE WANTS AN RV WITHOUT A LOP?..help me understand ??

Edited by welcome007

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Out of curiosity... what is so indisputable about your "fact" other than "you say so"?

I'm not saying you are right or wrong, I'm

just looking for the "indisputable" part of it.

(P.S. YELLING doesn't make you right, nor does it convince people. It actually makes you look a little crazy when you start yelling in the middle of a conversation. :twocents: )

Adam,

I will have your answer tonight with links. Promise.

The all caps is emphasis because it is rampant on this site and others the inaccuracies of Maliki (see your last chat as example regarding Maliki questions) and controversial issues like this. The exclamation points are yelling. LOL.

Give me till 8:00 CST...or so.

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Out of curiosity... what is so indisputable about your "fact" other than "you say so"?

I'm not saying you are right or wrong, I'm just looking for the "indisputable" part of it.

(P.S. YELLING doesn't make you right, nor does it convince people. It actually makes you look a little crazy when you start yelling in the middle of a conversation. TwoCents.gif )

hey Adam, since we have your attention, i was curious to your recent remarks concerning Maliki. how is it that you elude to him being good for our investment?

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I just wanted to weight in a little bit on this whole topic of discussion where the lifting of the zeros is no longer an immediate agenda item in Iraq. Has anyone noticed that this has not come from the mouth of the central bank from any article I've read? If there is an article, can someone please post a link. It has come from economist and ministers from what I've been seeing, and this, to me, means nothing. I am not certain if the politicians there are having a difficult time accepting it for what it is but the CBI is not under the jurisdiction of the GOI....PERIOD. The GOI keeps weighing in as if they have some say so or jurisdiction.

From all of the history I've studied on banking and central banks, they are always independent, private and not under the control of any government. This is why it is laughable when i read articles here in the state of the President suggesting who should sit on the board of the Federal Reserve. It's just smoke to make Americans think we have some say so into monetary policy construed by the banking powers but we don't. Same with Iraq. Shabibi is untouchable and does not answer to them but they continue to come out with all of these articles as if they are steering monetary policy in that country.

Good point Trinity, but when it comes to printing new currency, as I understand it, they need Governments approval. Actually I think they need the Government to be on par with them, if it is an RD. An RV, as we have seen even if it is 4 pips CBI has the authority.

Thats something to keep in mind.

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hey Adam, since we have your attention, i was curious to your recent remarks concerning Maliki. how is it that you elude to him being good for our investment?

Because Trinity, he very possibly will be. No one likes it, but it is what is.

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Alrighty...Here we go. It's nice that Kaperoni already started providing proof in the chat section. Perhaps by the time I'm done with this post, maybe investors will have a much better understanding of the positive and negative forces in Iraq.

Here's an article from today clearly stating that the CBI is an independent body. I will prove shortly that the political mudslinging blaming Maliki of this came from the Iraqiya List which is Allawi's group.

Friday 4/13/2012

The government denies the request to link to the Central Bank

Baghdad, Denied the Council of Ministers, yesterday, that there is a demand from the government by linking the central bank.

The Secretary-General of the Council of Ministers on the Keywords in a statement released yesterday, and received a "long", a copy of "The Iraqi government did not ask the Council to link the central bank, or even trying to undermine its independence."

The head of the Iraqi Council of Representatives Osama Najafi said, on April 10 now, should not be dependent central bank for the government to prevent the seizure of Iraq's money or the implementation of international provisions issued against Iraq by the creditors ..

*while pointing out that the Council will host a Bank Governor Sinan Shabibi in session listen to illustrate the issue of the exchange rate of the dollar against the Iraqi dinar, attributed Shabibi reasons for the high exchange rate of the dollar against the dinar to the weakness of domestic production and the weakness of the government's actions.

Article 2/2 of the Law on Central Bank of Iraq 56 of 2004 on the "pursuit of the objectives of the Central Bank of Iraq and to accomplish its tasks, the Central Bank of Iraq independent and responsible as provided for in this Act, except as otherwise determined herein.

Here's another article...

Iraq parliament tells cabinet not to meddle in central bank policy ...

April 11, 2012

Iraq parliament tells cabinet not to meddle in central bank policy

Iraq's parliament has sent a letter to the cabinet telling it not to interfere in monetary policy, a parliamentary source said, in a skirmish over central bank independence that reflects concerns over the extent of Prime Minister Nuri al-Maliki's influence.

Maliki won a court ruling in January 2011 putting independent bodies like the Central Bank of Iraq under the cabinet (my comments: this was been rescinded in April 2011. The reason the 'cabinet' NOT executive needed that ruling was to present the plans of returning to the international community to a group of 12 instead of 400ish parlimentarians...during that 90 day period, agreements were signed and then the CBI automony was restored...again, the CBI has a relationship with parliment, not the executive branch or cabinet), alarming critics who view with suspicion signs of authoritarianism in some of his actions. (more commentary: this slanted article indicates that the PM tried to influence the CBI, but it clearly states it was brought together with the Cabinet...again, not the Executive Branch.)

He said this would not affect the CBI's independence, but other moves by Maliki, a Shi'ite, against senior Sunni politicians and his control over key security ministries have raised concern that he is trying to consolidate his power.

A source in the office of parliament speaker Osama al-Nujaifi said parliament had sent the cabinet a letter reminding it that setting monetary policy was not in its mandate and that it should not assert its authority unconstitutionally.

Parliament sent the letter after cabinet wrote to the CBI stating that it should have a say in its monetary decisions, lawmakers who received a copy of that letter said.

"This is not the first time the government has tried to impose its control over the central bank," Jaber al-Jaberi, a lawmaker and member of parliament's finance committee, told Reuters.

"Every time they try, and then talks erupt, and then they reach an agreement. But then they try all over again," he said.

Parliament said on its website that Nujaifi met with CBI Governor Sinan al-Shibibi on Tuesday to confirm its support for the bank's independence in accordance with the constitution.

"It is necessary that the central bank remains independent from government in order to prevent a hand (controlling) Iraq's money and to execute international rulings issued against Iraq by its debtors," Nujaifi told Shibibi, according to the website.

"The central bank has $60 billion in reserve and this reserve should (be safe)," said Najiba Najib, a lawmaker and a member of parliament's financial committee.

"Central bank policy should be away from any executive side in order to work professionally and independently."

Much of Iraq's external debt was settled via the Paris Club of sovereign creditors in 2004, in a deal that required Baghdad to seek similar settlements with all other creditors.

But some commercial creditors have won court cases and do not accept the terms of that settlement, meaning Iraq has yet to settle its debts with them.

source

This all started with this article...note which political group is saying this. Do you see this everyone!!! right below..right there...The Iraqi List...NOT MALIKI's group. Hear and read that...wang dang, ernessto, med, mailmain, bgg, randy koonce, poopy3, etc etc etc...it's the Allawi group trying to gain control of the CBI from the Council of Ministers!!!

April 11, 2012

MP for the Iraqi List, Qusai al-Abadi said the central bank subject to government control Sevkdh independence by the Constitution ..

And detection of deputies in the parliament of the existence of a book issued by the Secretariat of the Council of Ministers on March 15 addressed to the Governor of Central Bank of Iraq that includes the monetary policy of the government functions exclusively.

Abadi said, "There are bodies in the Iraqi constitution, an independent part of which is the central bank is responsible for policy in the corner of the country the financial or monetary."

He noted that "If, however, is controlled by the government will impose Velsatrh attic instructions and Nokia have the independence and the related currency and foreign relations,"

.. noting that "when McCann of the Central Bank independence, it will be more mature in fiscal policy"

The Central Bank of Iraq four branches in Basra and Sulaymaniyah, Erbil and Mosul, where established bank independent Iraqi under the law of the Central Bank of Iraq issued on the sixth of March / March 2004, which is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies and the management of foreign reserves and the issuance of and currency management, as well as the organization of the banking sector.

The main Manmam Central Bank in managing monetary policy in the country and raise the level of the values ​​of the Iraqi dinar and tackle inflation is over ..

Okay...here's more. The Iraqiya List is determined to oust Maliki and blame him for everything...in order to get their political agenda ahead of democracy. Check out this article which clearly states Hashami has been charged by a real Judiciary Council...not Maliki, but their true legal system...because Hashimi is guilty. So in order to get him freed they are trying to blame Maliki and topple him. Guys and gals, the Allawi group is the reason Erbil is not done, HCL is not passed, ministers are not seated. This is the group holding back everything...in fact, read below and you'll see the Kurds are NOT supporting the Lists demands to have a vote of no-confidence. The list is begging for more than just their group. And here is Maliki, asking for calm. This the most watched country in the world...IMF, UN, WTO, WBO, USA, China, and every other imaginable body on the planet. If Maliki was doing anything wrong...anything at all, his butt would have been gone a long, long time ago. There are so many claims that Maliki owns the press, which he doesn't, so why so many negative articles about him? It's because the List doesn't want him or democracy to succeed. Want another fact? Here's one. Hashimi was the VP of Parliment. His job was to sign legislation passed by Parliment within 15 days. But what did he do? He regularly and continually Vetoed all bills that represented forward economic movement. That is a fact.

Iraq declared explicitly: We are planning to topple the Maliki

2012-04-08

Iraq declared explicitly: We are planning to topple the Maliki

After mediation by President Jalal Talabani, said the United Nations in Iraq, ready to take care of a dialogue between the parties to resolve their crisis.

This comes at a time when the Prime Minister instructed the calm atmosphere with Erbil and stop the convulsive statements, reveal Iraqi efforts to withdraw confidence from the al-Maliki.

The United Nations expressed its willingness to be impartial monitoring to support the dialogue between the Iraqi factions to resolve the political crisis in the country.

The representative of the Secretary-General of the United Nations and Chairman of its mission in Iraq Martin Kobler willingness to be impartial observers, a representative of the Secretary-General to support the dialogue between Iraqi factions in order to progress and stability and prevent the singularity in the resolution.

He pointed out that the report of an international organization about the conditions of Iraq, which will be issued during the next two weeks will confirm the existence of violations of human rights in Iraq.

For its part, the Iraqi List, began to move in order to get what she called "national consensus" to withdraw confidence from the government denied Maliki's coalition with Maliki and the Kurdistan possibility of withdrawal of confidence from the government.

The spokeswoman said Maysoon al-list, told the Kurdish news agency "if the Iraqi List and the Kurdistan Alliance were able to collect 163 votes Venottagh to withdraw confidence (...) We are looking for a national consensus in this matter."

"The move began with the masses into the political process", revealing at the same time, "the ongoing dialogue of the parties in the National Alliance on withdrawing confidence from the government."

In turn, the Kurdistan Alliance said it was looking for until now the issue of withdrawal of confidence from the current government ruled out at the same time that it is.

A member of the Chuan coalition that Taha alliance did not ask him to withdraw confidence from the government and the efforts are focused on discuss the possibility of finding solutions to political problems. "

Was described as the coalition led by al-Maliki to talk about the withdrawal of confidence from the government of "Whirlwind" media.

A member of the coalition, Salman al-Moussawi that "in spite of the differences between the coalition and the Kurds, this did not lead to the separation of the strong alliance between them."

Furthermore, it was revealed close to the prime minister and a member of the House of Representatives, yesterday, for the issuance of guidance from the highest political leaders to remain silent about the crisis with the Kurdistan region in order to preserve the relationship "historic" which brings together Shiite and Kurdish parties.

Salman al-Moussawi said that "there are directives issued by Prime Minister Nuri al-Maliki and ask everyone to remain silent about the crisis with the Kurdistan region in order to preserve the relationship with the Kurdish side."

On the other hand, politicians said they would support a meeting at the level of leaders of political blocs to calm the atmosphere and restore confidence ahead of the upcoming National Conference.

The Preparatory Commission failed Wednesday to agree on the agenda of the National Congress, which was scheduled to take place last Thursday at the invitation of President Jalal Talabani.

A member of the Kurdistan Alliance Ashwaq Dry "The meeting was held at the leadership level has become an urgent necessity at the moment, especially after the political statements, which escalated in the last period."

She explained that "the meeting is important to improve the atmosphere and return the lost trust between the political leaders in an effort for the success of the National Conference to be held later."

Dry and showed that "the current stage dangerous, especially after the calls made the dimensions of the Kurds from central and southern Iraq", criticizing at the same time, "the three presidencies for not condemning those calls on the reverse of citizens who have expressed their rejection of calls for deportation."

And supports the Iraqi List, hold a meeting at the level of political leaders in order to resolve the differences, especially that took a political dimension as an issue Hashemi accused by the Iraqi judiciary of supporting "terrorism."

A spokesman for the movement of reconciliation that fall under the Iraqi List, Hadi Zalmi that "Iraq is to call a meeting at the level of political leadership in Arbil, a step toward the success of the National Congress and is not a substitute for him."

Zalmi revealed that "the list has a lot of coordination with the President of the Kurdistan region, Massoud Barzani, in support of such a conference."

In an important development, the President of the National Alliance, Ibrahim al-Jaafari gave the alliance project was the conviction of the coalition and Iraqi Kurdistan, adding that they respect the details of the National Forum, according to a statement issued by his office on Sunday.

The statement quoted Jafari as saying that "political forces held its intention to meet under the title National Meeting, and she wanted it to be exposed for all the points, and yet achieved the goals and aspirations of the Iraqi as they face the challenges and problems that remain, which rounded over recent years, has not been resolved yet."

source

Well, I guess this is more than proving that the Council of Ministers has zero authority over the CBI. It's been a platform for me to vent a bit at the misinformation and misrepresentation put out there daily by so many so-called gurus. Yes, I was one at one time...speaking on calls etc. That was over a year ago, but I do stay very, very connected to what's really going on. I want the RV as badly as others. But guys, the questions that Adam had to answer regarding Maliki are ridiculous and are festered by gurus who don't have a clue about the true politics of Iraq.

I'm done and forgive me if I hurt anyone's feelings, including misspellings. I stand by everything I wrote above as Fact.

Finally...thank you Lakehouse for use of your articles!

Good point Trinity, but when it comes to printing new currency, as I understand it, they need Governments approval. Actually I think they need the Government to be on par with them, if it is an RD. An RV, as we have seen even if it is 4 pips CBI has the authority.

Thats something to keep in mind.

The only reason this needs approval is because of budgetary cost. No approval for value...it's succinctly a cost issue. That's all..not relevant to value future/past/present, storage or anything like that. Budget line of cost must be approved by parliment.

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WHY DOSE EVERYONE SEE'S MALIKI AS THE BAD GUY IF HE WANTS AN RV WITHOUT A LOP?..help me understand ??

How do you/we know this?

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Joe P, I understand where you get your opinion from. The "articles" you posted are indeed compelling and could lead one to believe your theory is correct.

However, it's still a (theory / opinion / interpretation), and definitely not "fact".

If it were fact, you could prove it in one sentence or with one link. The "fact" that it takes 8 separate articles to tie your theory together makes it just that - a theory.

Again, I'm not saying your theory or opinion or, more accurately, your interpretation is wrong - I'm just stating the fact that your interpretation can not be proven to be fact.

Therefore, you are in the same boat as the rest of us.

Nobody here can "prove" anything, much less whether or not the Dinar will RV at a certain rate or not.

Instead of stating you have "facts", perhaps you should say "I have strong reason to believe" or "I have strong evidence to support my interpretation of (X)". That would be more accurate.

And stop yelling at people. It's rude.

:twocents:

:tiphat:

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