EO 13303 Extended by Whit House

[Butifldrm]

 

Parliamentary economy: government can wait demanding Washington to lift the immunity from Iraqi funds

By Adminsa 05.28.2014 1:49 | Views: 1614

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Parliamentary economy: government can wait demanding Washington to lift the immunity from Iraqi funds

Brother - Baghdad

Committee said the economy and investment parliamentary "The government could have demanded Washington to wait to raise the issue of the immunity of Iraqi funds.

A member of the Committee Mahma Khalil said in a statement seen by the Agency for News News (et) today that the government is required to maintain the Iraqi funds in international banks from prosecution, the resolution of financial issues unresolved.

He added that "Washington is obliged to protect Iraqi funds in accordance with the Convention and the defense of Iraq when it is exposed to any threat, whether internally or externally.

"The government could have demanded Washington to wait to raise the issue of immunity from Iraqi funds.

 

The "U.S. President Barack Obama lifted the immunity of the Development Fund for Iraq, which

Imposed under UN Security Council Resolution 1483 to protect Iraqi funds claims

International after the fall of the former regime in 2003

http://khabaar.net/index.php/permalink/20707.html

Edited May 28, 2014 by Butifldrm

[ronscarpa]

More supporting article titles:

The White House
Office of the Press Secretary

For Immediate Release
May 27, 2014

Letter: Ending Immunities Granted to the Development Fund for Iraq and Certain Other Iraqi Property and Interests in Property Pursuant to Executive Order 13303, as Amended

Site Link Removed...RON

Washington lifted the immunity of the Development Fund for Iraq and certain Iraqi assets

Site Link Removed...RON

Shabibi's (range): jeopardizing the independence of the central bank shows our money abroad at risk

Site Link Removed...RON

Edited May 29, 2014 by Markinsa
Removed links remaining in the "L" 's

[tenmillion]

May 27, 2014 I hereby terminate the prohibitions contained in section 1 of 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 and Iraqi petroleum, petroleum products, and interests therein, and the accounts, assets, investments, and other property owned by, belonging to, or held by, in the name of, on behalf of, or otherwise for, the Central Bank of Iraq.

 

 

 

(EO 13364) I find that the threat of attachment or other judicial process against the Central Bank of Iraq constitutes one of these obstacles. I further determine that, consistent with United Nations Security Council Resolutions 1483 of May 22, 2003, and 1546 of June 8, 2004, the steps taken in Executive Order 13303 to deal with the national emergency declared therein need to be limited so that such steps do not apply with respect to any final judgment arising out of a contractual obligation entered into by the Government of Iraq, including any agency or instrumentality thereof, after June 30, 2004, and so that, with respect to Iraqi petroleum and petroleum products and interests therein, such steps shall apply only until title passes to the initial purchaser. 

 

 

 

13364 is an amendment to 13303, and since UNSC Resolution 1483 and 1546 (both related to Iraq under Chapter 7 which was lifted last June), would be obsolete.

 

Just a guess since Iraq has exited Chap 7 and 13364 would not be relevant. Iraq would still be immune under 13303 as the article states.

[Maggie123]

 

Quote

May 27, 2014 I hereby terminate the prohibitions contained in section 1 of 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 and Iraqi petroleum, petroleum products, and interests therein, and the accounts, assets, investments, and other property owned by, belonging to, or held by, in the name of, on behalf of, or otherwise for, the Central Bank of Iraq.

 

 

 

Quote

(EO 13364) I find that the threat of attachment or other judicial process against the Central Bank of Iraq constitutes one of these obstacles. I further determine that, consistent with United Nations Security Council Resolutions 1483 of May 22, 2003, and 1546 of June 8, 2004, the steps taken in Executive Order 13303 to deal with the national emergency declared therein need to be limited so that such steps do not apply with respect to any final judgment arising out of a contractual obligation entered into by the Government of Iraq, including any agency or instrumentality thereof, after June 30, 2004, and so that, with respect to Iraqi petroleum and petroleum products and interests therein, such steps shall apply only until title passes to the initial purchaser. 

 

 

13364 is an amendment to 13303, and since UNSC Resolution 1483 and 1546 (both related to Iraq under Chapter 7 which was lifted last June), would be obsolete.

 

Just a guess since Iraq has exited Chap 7 and 13364 would not be relevant. Iraq would still be immune under 13303 as the article states.

 

 

Top O The Morning To You Tenmillion

 

I've got to say I am so confused.... my poor brain...

 

Are you showing us that this May 2014 EO is in regard to 13364, 1483 and la la la... it's just a matter of house keeping?

 

If 13303 has protection language in it about anyone bringing suit against the DFI funds... then they are still protected?

 

13303 still stands right???

 

 

Appreciate your contributions here very much... I'm just trying to wrap my head around what you are showing us.

 

Sorry if I got it all backwards... I have a vivid imagination that sometimes invades my processing process.

Edited May 29, 2014 by Maggie123

[dontlop]

Thanks tenmillion very good analysis

[Maggie123]

Thanks tenmillion very good analysis

 

So wouldn't that mean nothing has change as far as immunity from being sued?    Actually no change at all?

Can't edit... "nothing has changed" was what I wanted to say.

 

 

 

13364 is an amendment to 13303, and since UNSC Resolution 1483 and 1546 (both related to Iraq under Chapter 7 which was lifted last June), would be obsolete.

 

Just a guess since Iraq has exited Chap 7 and 13364 would not be relevant. Iraq would still be immune under 13303 as the article states.

 

 

What she said...

 

 

Top O The Morning To You Tenmillion

 

I've got to say I am so confused.... my poor brain...

 

Are you showing us that this May 2014 EO is in regard to 13364, 1483 and la la la... it's just a matter of house keeping?

 

If 13303 has protection language in it about anyone bringing suit against the DFI funds... then they are still protected?

 

13303 still stands right???

 

 

Appreciate your contributions here very much... I'm just trying to wrap my head around what you are showing us.

 

Sorry if I got it all backwards... I have a vivid imagination that sometimes invades my processing process.

 

My questions...

 

 

What say you Dontlop???

 

Honest questions and I'd like your views on this if you have the time.  Much appreciated.

Edited May 29, 2014 by Maggie123

[tenmillion]

Thank you dontlop.

 

Maggie ~ yes, 13303 is still in effect.... a little housekeeping...exactly

[Maggie123]

Thank you dontlop.

 

Maggie ~ yes, 13303 is still in effect.... a little housekeeping...exactly

 

Thank You Tenmillion

 

I certainly would not have thought that before your post last night...

 

Good Catch On Your Part!!!

[SnowGlobe7]

Anyone else find it interesting that this order was so quickly rescinded about the

same time the Kurds began selling the oil? Something is amiss.

 

I love it when you read my mind!!!!

[zul]

EO 13303 has 2 parts : 

 

1. A threat against DFI that could obstruct the reconstruction of Iraq.

2. A threat to the national security and foreign policy of the US.

 

The EO that was signed by Obama on the 27 May 2014, was to end immunities to part 1 of EO 13303, which is the DFI.

But that does not  affect the national emergency declared in Executive Order 13303.

 

So 13303 is still in effect MINUS all immunities granted to the DFI.

 

 

 

I, GEORGE W. BUSH, President of the United States of America, find that the threat of attachment or other judicial process against the Development Fund for Iraq, Iraqi petroleum and petroleum products, and interests therein, and proceeds, obligations, or any financial instruments of any nature whatsoever arising from or related to the sale or marketing thereof, and interests therein, obstructs the orderly reconstruction of Iraq, the restoration and maintenance of peace and security in the country, and the development of political, administrative, and economic institutions in Iraq.

 

This situation constitutes an unusual and extraordinary threat to the national security and foreign policy of the United States and I hereby declare a national emergency to deal with that threat.

[dontlop]

EO 13303 has 2 parts : 

 

1. A threat against DFI that could obstruct the reconstruction of Iraq.

2. A threat to the national security and foreign policy of the US.

 

The EO that was signed by Obama on the 27 May 2014, was to end immunities to part 1 of EO 13303, which is the DFI.

But that does not  affect the national emergency declared in Executive Order 13303.

 

So 13303 is still in effect MINUS all immunities granted to the DFI.

That's the way I read it too

[Maggie123]

EO 13303 has 2 parts : 

 

1. A threat against DFI that could obstruct the reconstruction of Iraq.

2. A threat to the national security and foreign policy of the US.

 

The EO that was signed by Obama on the 27 May 2014, was to end immunities to part 1 of EO 13303, which is the DFI.

But that does not  affect the national emergency declared in Executive Order 13303.

 

So 13303 is still in effect MINUS all immunities granted to the DFI.

 

Thank You Zul... "Ok I think I've got it by George".

 

I re-read the whole thread and Beautiful Dream's post's were helpful too. Now I have to remember why it was so important to me. Lol

 

Guess I was thinking if the DFI lost it's immunities... the countries and corporations that have been waiting for this might start getting in line to bring their cases to sue the pants off Iraq... we shall see. I hope not because I was reading that a lot of Iraq's records of payment's were lost duing the war... so they might have a hard time proving they had paid... if they indeed had.

 

The good part would be... if it is indeed true that the DFI funds will now be returned to the CBI. IMHO that would be a huge bullet dodged.

 

Libya has never gotten their frozen funds back from the US... in fact they don't even exist anymore according to our guberment.

[yota691]

add this...No real concerns on Iraqi funds after the lifting of U.S. protection

 

 

        

1/6/2014 0:00 

Experts and specialists claim to take precautionary measures to face any emergency 
 BAGHDAD - Farah pumice 
after the U.S. decision to lift protection for Iraqi money end of last week, were mixed views with regard of specialists and experts in this regard, including indicates the presence of concern are not significant for some people, and the face of the international community and non- Fear of international piracy with others. 
, but that most of the opinions confirmed the absence of real fears big on Iraq's money abroad, especially that most of them fortified internationally according to the laws, however, came calls for the creation of a team of specialists and legal advisers of international to cope with it. 
indicated that the protection of Iraqi funds have been imposed under UN Security Council Resolution 1483 to protect them from international claims after the fall of the former Iraqi regime in 2003, and raise this decision in 27 of the last month by President Barack Obama to end the risks that threaten the money. 
immunity international legal adviser Zuhair Hassani between "morning" that Iraq is facing two types of issues, the first central bank money included immunity International, because it's money sovereign intervention in Iraq's reserves of cash they are covered by international immunity does not need immunity Other either the Security Council or the decisions issued by the U.S. president annually , while the second is money and the Ministry of Finance, which is money the Iraqi government, which is about the money business, and thus be subject to any claims, so it has processed the settlement on according to the Paris Club agreement and the remainder are all individual claims to private companies, adding that Iraqi funds backup of the Central Bank has full immunity.and alerts Hassani relevant Iraqi authorities to the need to push for obsolescence of all claims that over the 15 years, and claims arising from contracts concluded by the previous regime, has not been settled and the most ever by the statute of limitations, and so there is no risk from this side on the money and the Ministry of Finance, He called for the creation of a cadre of lawyers and international consultants who provide advice to the Ministry of Finance and the Central Bank and the Board of Supreme Audit and the Office of Legal advice in the case issued claims seriously, and thus Iraq can tackle the rest of the claims that are not worth more than two billion and a half billion dollars. As for the next step after decision that must be followed by the Iraqi government, he stressed the importance of creating a team of legal and international consultants, in addition to operating the Iraqi ministries settlements with foreign companies to own that have claims against the Iraqi funds, so that the settlement in accordance with the trade agreements concluded between Iraq and their countries and compensate certain amount as it happened with the U.S. government (has settle claims the U.S. between the Iraqi and U.S. governments under the Paris Club agreement of 400 million U.S. dollars), and the signing of economic agreements in this regard must be carried out by the settlement of claims that claims by foreign companies own. noted that the Paris Club of creditor nations announced in 2004 to reach an agreement to write off eighty percent of Iraq's debt owed ​​to the states of the club, as it is implemented in three phases over the next four years, will reduce Iraq's debt to Member States to seven billion and eight hundred million dollars instead of thirty-eight billion and nine hundred million dollars. types DebtThe economic expert Dr appearance of Mohammed Saleh took to the position of neutrality toward the subject, did not appear to anxiety and fear, despite his call at the same time not to underestimate him, he says: "There are no concerns, but is a source of annoyance more than it is a source of concern, and must be for Iraq that is facing this issue, especially as all the rest of the debt does not constitute a significant burden on the potential financial of the country. "Saleh explained types of debt that resulted from Iraq during the former regime which three of them: a sovereign with countries within the Paris Club, and sovereign debt with countries outside Paris Club (the 54 countries where the remaining 8 countries is not settled the debt with it), and the third type of credit between the Iraqi government and foreign private sector, noting that more money in Iraq is the oil revenues that go into calculating receipts of oil to the Federal Reserve Bank of New York and deducted them 5 percent of compensation Kuwait war, and the remaining 95 percent remains in the calculation of the Iraqi Central Bank to the Fed American. featuring Paris Club of 19 creditor nations, including most of Western Europe, Japan, Russia and the United States, Canada, Australia, and according to estimates of the International Monetary Fund, an Iraqi debt about 120 billion dollars, is confined almost a third in the hands of the industrialized countries the main members of the club, in addition to the debt amounting to about sixty billion dollars owed ​​to Gulf neighbors, while the remaining funds are owed ​​to banks and companies. Saleh added in his speech for the "morning": "Do not fear the big money, but there could be some disturbances on government funds in some global banks, so it must be that Iraq faces the international community and raises claims of trade creditors by the pre-1990, as it was settled under the Paris Club agreement, including nearly $ 21 billion, both cash or bonds (where Iraq's bond is trading in global markets, the value of the benefit of 5.8 percent.) and between the nature of the payment of this debt through direct extinguish debt and pay a small amount of 10.25 percent of the value of any debt continued up to 90 percent of this debt for small At least 35 million dollars, while the most of the large debt of $ 35 million to be admitted to cover the bonds over 20 years old any rescheduling They represent 20 percent of the debt, as it was extinguished 80 percent of them, according to the Paris Club agreement, which represents a standard agreement for each sovereign Iraqi debt The mother brand.supported Saleh met Dean foreign private sector in the form of investments in Iraq according to Iraqi investment law, including back-interest of the parties (creditor and debtor) and according to the agreement between them. protection money , in turn, said financial expert, Dr. Hilal Al-Taan that the CBI is able to protects Iraq's money, especially that it (Iraq) has the potential, stressing the lack of fear of raising the protection of Iraqi funds. said Taan in his statement the "morning" that after the fall of the former regime, Iraq has demanded the development of international protection on his money to the large debt complex that almost 140 billion to the governments of other countries in the Paris Club and outside major companies and smaller private sector foreign, so it was put money imports Iraq Development Fund DFI under the tutelage of the United Nations. deposited in (the Development Fund for Iraq) Iraq's revenues from oil exports and withdraw the United Nations of such proceeds ratio five percent compensation to Kuwait for the invasion of Iraq to its territory in 1990, while pay and the Ministry of Finance of Iraq's debt before the government received the responsibility for overseeing the fund. said he has settled some debts with other countries have been amortized value of 100 percent, while the debts of another was extinguished 80 percent of them According to the Paris Club agreement, as Sweet 20 percent remaining installments comfortable than the budgets of Iraq starting from 2011 and continuing until the year 2028 has hit Iraq, a large part of them, stressing that this file is about to expire, so no need for the survival of protection of Iraqi funds and no fear of international piracy on the money, because most of them turn off and the remaining little, he says. considered litigation new Iraq is illegal and that the so-called "period of the expiration of the debt," Van Every religion has a statute, a global not exceeding 15 years, in favor of this set up investment in Iraq, instead of remaining debt custody of Iraq. some concerns as expressed economic expert Dr Paper Anwar fears and concerns of raising the protection of Iraqi funds. showed Anwar told the "morning" that the decision is not the interests of Iraq, among other obstacles, notably the current situation in the country economically, politically and security , as well as the lack of identification of the national economy and to identify the type of the Iraqi market, or is it a central open, along with the lack of control on the integrated border crossings, and not to activate the private sector properly to support GDP.

Read more: http://dinarvets.com/forums/index.php?/topic/179007-no-real-concerns-on-iraqi-funds-after-the-lifting-of-us-protection/#ixzz33O7YdX2d

[TrinityeXchange]

Warned the Governor of the Central Bank of the article d. Shabibi that the loss of the Iraqi Central Bank to independence displays of Iraqi funds abroad to danger and called to not modify any clause concerning the Bank Act current, and pointed out that Iraq needs international protection for the money. Shabibi said in a statement to the "long" that "central bank money reserved as a reserve in a number of central banks international discreet, since the CBI is independent financial and administrative as well as autonomy in decision-making, there are no fears for Iraq's money. "according to the newspaper term and pointed out that "the central bank money is not used in the international trade but contribute effective in stabilizing the national currency because they correspond to the demand for this currency, as they contribute to the world's reserves other in stabilizing the global monetary. "

 

 

I had to touch on a few talking points here from this article since I haven't seen many bring it up.  To me this information provided by Shabibi is profound for the investors in the dinar.  Here is my opinion on the points mentioned:

1. Shababi warns that the CBI must remain an independent entity - The importance of this is mentioned immediately afterwards of danger to funds abroad if independence is not maintained.  
2. So what about these funds abroad?  Shabibi says that the information on which international central banks are currently holding dinar in their reserve vaults is a secret (discreet).  This lets us know of a TRUTH that this money (albeit not used in international trade) is still valued by central banks globally.  
3. The iqd must maintain is stability and has maintained its stability.  Shabibi admonishes the new leadership taking the helm of the government that there can be no change in the central banking laws governing this (worthless) currency because it has a purpose in stabilizing the global monetary situation (revisit Christine Legards messages about Mid East & North Africa being called upon to stablize the global economy).  

I believe there is much to be gathered from Shabibi's blurb.  From it we have insight to the global importance of this currency.  There are central banks around the world holding this in their reserves and to tamper with the CBI and its independence is to tamper with world currency reserves.  To disturb what has been worked towards for years, stabilizing the dinar, would most likely bring retaliation from nations who invested in this (worthless) currency.  I use the term worthless tongue-in-cheek (hint hint).  There is much brewing around this little dinar my friends.  A lot more than the tenth of a penny we currently realize.  I am more excited about Shab's blurb than the Executive Order.  

 

If an undisclosed number of central bankers have adopted the iqd into their coffers, I would be a fool not to do the same.

Edited June 1, 2014 by TrinityeXchange

[Nadita]

Anyone else find it interesting that this order was so quickly rescinded about the

same time the Kurds began selling the oil? Something is amiss.

 

Yes... not only that. Russia pulling out of Ukraine is in the same week too

That's the way I read it too

Ditto

[dontlop]

Everything but the money being protected was extended

Obama must of knew something

He knew the Kurds were defying the central govts orders with the oil

He saw something coming

and interests therein, obstructs the orderly reconstruction of Iraq, the restoration and maintenance of peace and security in the country, and the development of political, administrative, and economic institutions in Iraq

If a country removes a govt with military action aren't they responsible for the security of that country till they can provide for their own security

I'm not completely sure the United States is completely off the hook yet

Its a Geneva convention thing I believe

Did they leave prematurely ?

Military leaders say yes they left before Iraq was ready

Obama best take care of this or war crimes could follow

" if "

They are still being held responsible for Iraqs security

I don't know who determins these things

[dontlop]

He must of knew when Iraq was ready to rv their would be kaos because the chance to devide Iraq would be all but over

Ya out money in the citizens pockets and they calm down

Way down

So who knows maybe they will pull the trigger anyway

And rv

Just like that

Like the terrorists all go crazy before the first elections

Or when the first govt took over

It makes the terrorists skin crawl when they just do things despite all the terrorists efforts to stop progress