Iraqi foreign currency controlled by the U.S Fed Reserve

[Rayzur]

The Iraqi foreign currency is controlled by the U.S. Federal Reserve

The Iraqi foreign currency is controlled by the U.S. Federal ReserveArranged by S. Seal - [1/11/2013]

A source well-known with the Central Bank of Iraq, declared that the Iraqi government is not capable of acting in cash reservoir overseas because it is lodged with the U.S. central bank. He also emphasized that the latter had already agreed with the United Nations and the Department of the Central Bank of Iraq to refuse the transfer any amount outside the budget’s structure.

The experts made the prediction that the crisis will end soon, as the Central Bank of Iraq (CBI) for fear of depicting the big names in the financial and political center, which was confirmed by the sources familiar with the investigation, indicating to the issuance of a judicial decision for releasing the deputy governor of the Bank appearance in favor and 30 employees were under arrest earlier.

The last arrest warrant against the Governor of the Central Bank and a few numbers of officials in some corruption cases on 19th October, 2012 by the Supreme Judicial Council and took 32 staff into custody with the governor’s rejection to Shabibi decision.

Sources from within the Central Bank of Iraq revealed the implementations details of the detention of the deputy governor and showed that the warrant included 3 officials, are Governor Sinan al-Shabibi and his deputy, the appearance of the Saleh and General Manager of the banking sector Ali Abu Nayla.

The sources also told that Shabibi and Abu Nayla not surrender themselves to the concerned authorities, but Saleh turned himself in after the security authorities seized some members of his family. She noted that the investigators made the conclusion with the deputy governor and is pleased that there is no proof incriminating and decided to end up the detention on bail pending completion of the investigation, but the security authorities represented by the Ministry of Interior rejected to release him or allow the media tackled inside prison in Baghdad.

A source, close to the committee for the investigation also declared that the number of staff of the Central Bank beyond 1235, distributors’ headquarters and four branches in Nineveh and Basra, Sulaymaniyah and Dohuk. He also clarified that the number of prisoners is less than 30, which includes 22 female and four officials, explaining that the reason behind this detention was that they were member of the board committee and four staff members are elected to serve under the authority of the Board of Directors. He also confirmed it was evacuated by the investigators that the last for the members of the Committee and some employees because they are not really concerned about this.

The newest improvements in the investigation indicated that the art is that the Central Bank accepted five banks eligibility for selling out the dollar and these banks give offer to auction the bank to list in exchange for any amount of purchase, then apply the conversion and here the Central’s responsibilities are not implied directly. It has not issued any arrest warrant against the officials of the private banks, concerned while making sure of its involvement money laundering actions or smuggled out of Iraq.

He was a member of the Committee of Finance parliamentary, Hassan Ozmn declared to the media about three weeks ago, that the Iraqi funds abroad are exposed to the international trusteeship’s risk due to the participation of the United Nations for investigating the issue of the Iraqi Central Bank, had expectations to employ UN special rapporteur for keeping an eye on the movements of Iraq’s Finance, but the Iraqi Foreign Ministry denied it. It is notable, that the Central Bank of Iraq declared in August 2012 that Iraq reserves rise of hard currency to $ 67 billion from 63 billion.

In addition, the official denied that the Central Bank can control these safety measures and said that it is still under the guidance of the United Nations, under paragraphs of 7th item and carries on from the sale oil goes directly to the account itself and even going out of the trusteeship is already there in the bank, U.S. who refuses any Iraqi government-issued requests, regarding the financial withdrawal outside the structure of the budget and this is agreed with the United Nations for preventing any theft actions in Iraq, which persists to suffer unsteadiness.

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[jeepguy]

now i wonder if they mean ----- A source well-known with the Central Bank of Iraq, declared that the Iraqi government is not capable of acting in cash reservoir overseas because it is lodged with the U.S. central bank. He also emphasized that the latter had already agreed with the United Nations and the Department of the Central Bank of Iraq to refuse the transfer any amount outside the budget’s structure.

The experts made the prediction that the crisis will end soon, ----- that the budget must incorporate, or name , exchange dinars out side of iraq , --> and this money in the u.s. accounts are the monies that will be used to do the exchanging of said --dinars for dollars ?? also --->The experts made the prediction that the crisis will end soon, <-------man i hope i read this right, as we will see an end to the currency deals we all are wanting to see

thanks razur

[Rayzur]

Definitely Jeepguy.... And it just occurred to me, that maybe this is where some of the geerus come up with the idea that the US controls the RV.... lol lol

[dontlop]

i just hope obama didnt spend their money too .. ahh it dont matter he will just print up smoe .. i dont think hes responsible enough to be in charge of any other countrys money

obama probably said ,, hmm 67 billiondollars .. that means i got 110 billlion dollars to spend right here

[SnowGlobe7]

We always thought that Shabbs could push the button. What about Shabbs replacement...does he have the authorization to push the button? If not who does?

[McHales Navy]

Well... by the end of March, ("in the real world") we should see quite a market crash (in my opinion).

The debt ceiling issue will likely not be resolved and stocks and forex currencies are screaming for a correction anyway.

Instead of minting a 'trillion dollar' platinum coin, which the White House stated was never going to happen this past weekend, revaluing the dinar may be of some resource?

Who knows.

There is no magic fix, but apparently from what I've read, beyond March governments will have to be more creative than ever.

Won't be long now.

Peace.

Edited January 16, 2013 by McHales Navy

[pchester]

I wonder who could spend the most (money) Obama or Maliki...

[Rogue Knight]

I wonder who could spend the most (money) Obama or Maliki...

With over 5 trillion in the last 4 years blown through by Osama bin Biden, I hardly believe you could even compare the two...

[Biker]

Dont no whare i herd it but i remember yrs ago that the Fed reserve would be paying the bills as the dinar was cashed in, so i would be getting my investment return from the US treasury to my account.And that they would hold all Dinar in the US treasury untill they felt it was time to roll it over.

[gregp]

I agree with Grand Cherokee Larado. It sounds like the us is holding our money. For those of you wondering where the money will come from, to cash in those little dinars in your pocket, here it is!

[Rayzur]

Well... by the end of March, ("in the real world") we should see quite a market crash (in my opinion).

The debt ceiling issue will likely not be resolved and stocks and forex currencies are screaming for a correction anyway.

Instead of minting a 'trillion dollar' platinum coin, which the White House stated was never going to happen this past weekend, revaluing the dinar may be of some resource?

Who knows.

There is no magic fix, but apparently from what I've read, beyond March governments will have to be more creative than ever.

Won't be long now.

Peace.

You're hearing March from something fairly accurate or with a good history of reading the signs? I ask as I have this gut feeling that things are not going to stand solid for much longer in the market. It rallied, and I think its false. Trying to convince some of my buds to pull out at least half of what they have in and go to PMs or something else. I lost over 600K when the internet bubble burst, and so have been a bit leery anyway... But it does feel like London Bridge is falling down soon....

[Rockymtnhi]

now i wonder if they mean ----- A source well-known with the Central Bank of Iraq, declared that the Iraqi government is not capable of acting in cash reservoir overseas because it is lodged with the U.S. central bank. He also emphasized that the latter had already agreed with the United Nations and the Department of the Central Bank of Iraq to refuse the transfer any amount outside the budget’s structure.

The experts made the prediction that the crisis will end soon, ----- that the budget must incorporate, or name , exchange dinars out side of iraq , --> and this money in the u.s. accounts are the monies that will be used to do the exchanging of said --dinars for dollars ?? also --->The experts made the prediction that the crisis will end soon, <-------man i hope i read this right, as we will see an end to the currency deals we all are wanting to see ;)/>

thanks razur

No where in the article did I read......... this money in the u.s. accounts are the monies that will be used to do the exchanging of said--dinars for dollars.......as you stated above. Please clarify. thx

[DinarThug]

Well... by the end of March, ("in the real world") we should see quite a market crash (in my opinion).

Well... At The Moment It's Now Back To 2007 All Time Record High Levels !

Obviously Subject To Change !

[Rayzur]

Well... At The Moment It's Now Back To 2007 All Time Record High Levels !

Obviously Subject To Change !

Interesting Thug a licious..... Though I have to say, it was at an all time high before it came crashing down from the sky and it was like catching falling knives.. I remember watching one stock go from 288.0 a share down to 6.00 a share.... and reverse split took on a new meaning... lol

In the meantime... have you figured out what this article is talking about? And/or if its something to get excited, annoyed, or 'whatever' about?

Always good to see you my friend....

[Doctor Smith]

That's whats so good about the Federal Reserve. It is an independent entity out of the hands of crooked politicians. Maliki can't steal or plunder the CBI money. It is used to back the Dinar as intended. Even Obama and Co can't get to it.

Just think what a nightmare it would be if the politicians in the US had control over the US Central Bank money supply.

[storm1]

psssst there is nothing "good" at the fed res

[Doctor Smith]

psssst there is nothing "good" at the fed res

Very little is good when your talking about the egg stealer species. I'd rather not have Barbra Boxer, Brown and Feinstien in control of the money supply thank you.

[Blondie121]

That's whats so good about the Federal Reserve. It is an independent entity out of the hands of crooked politicians. Maliki can't steal or plunder the CBI money. It is used to back the Dinar as intended. Even Obama and Co can't get to it.

Just think what a nightmare it would be if the politicians in the US had control over the US Central Bank money supply.

Dr. Smith, Surely you jest regarding the Federal Reserve being out of the hands of crooked politicians! I hope so.

Biker - your comment was interesting to me regarding our cashed in Dinars going to the Fed. Recently a friend and I visited a 5/3rd Bank and without going into detail regarding our situation, explained to the officer that we wanted to consider cashing in some foreign currency and wanted to know the process. I.e. Could be access our money immediately? He assured we could, however, if it happened to be counterfeit, we would have to "re-pay" the funds we had used. We then asked who determined if the bills were counterfeit. He advised the bills would be sent to the Fed and it is up to them to determine that. That is probably how "our' money gets into the hands of the fed. We did not seek answers to what the fed did from then on. Figured he would not explain it to a couple of lay-persons. Now I wish we had. AT the end of our conversation, the banker asked if by chance we were thinking of cashing in Dinars. We said yes and he said they would be happy to do that for us. - interesting.

[Maggie123]

Dr. Smith, Surely you jest regarding the Federal Reserve being out of the hands of crooked politicians! I hope so.

Biker - your comment was interesting to me regarding our cashed in Dinars going to the Fed. Recently a friend and I visited a 5/3rd Bank and without going into detail regarding our situation, explained to the officer that we wanted to consider cashing in some foreign currency and wanted to know the process. I.e. Could be access our money immediately? He assured we could, however, if it happened to be counterfeit, we would have to "re-pay" the funds we had used. We then asked who determined if the bills were counterfeit. He advised the bills would be sent to the Fed and it is up to them to determine that. That is probably how "our' money gets into the hands of the fed. We did not seek answers to what the fed did from then on. Figured he would not explain it to a couple of lay-persons. Now I wish we had. AT the end of our conversation, the banker asked if by chance we were thinking of cashing in Dinars. We said yes and he said they would be happy to do that for us. - interesting.

Blondie Wow One Smart Blond!

[Rayzur]

THis is the paragraph I found interesting:

In addition, the official denied that the Central Bank can control these safety measures and said that it is still under the guidance of the United Nations, under paragraphs of 7th item and carries on from the sale oil goes directly to the account itself and even going out of the trusteeship is already there in the bank, U.S. .......who refuses any Iraqi government-issued requests, regarding the financial withdrawal outside the structure of the budget and this is agreed with the United Nations for preventing any theft actions in Iraq, which persists to suffer unsteadiness.

It seems that the gurus who say the budget has to be passed, or that the US somehow controls what or how Iraq spends money, is referring to these factors?

While everyone in politics has an opinion, and not sure this represents what is actually and genuinely true, it does appear that the US may have more of a hand in the Iraqi budget process than perhaps indicated or believed in the past? And not sure that has any impact at all on their valuation of their currency.... and perhaps does nothing more than explain some of the assumptions of others?