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To move money to Iran or Daash .. Central American dollar cut the flow to Iraq


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Twilight News / Allowal Street Journal revealed that the Federal Central Bank and the US Treasury cut off the flow of American cash to the Iraqi Central Bank account this summer, because of fears of Iranian money in banks or in the hands of Daash. To resume transfers only after the approval of Iraqi officials to impose strict controls on the dollar coin distribution.

The case represents a crucial point in the US government's efforts to avert the occurrence of dollars in the hands of their opponents, while sheds light on the way in which countries get the US criticism.

Central Bank of Iraq with the US Treasury account

Said Jonothin Hanzer, a former official in the Treasury Department and a member of protecting democracies Center in Washington, in an exclusive interview with "Net" The account date back to 2003. "The United States is committed to the need to preserve Iraq's financial liquidity, and the account was used for the transfer of US aid and loans to Baghdad as Iraq used when you want to sell oil, as the dollar is the currency used for international transactions."

He Hanzer. "This is not surprising, there are a lot of countries that retain the account with the US Federal capable of transferring large amounts of dollars when needed. When those dollars up to the Iraqi Central Bank is" selling "or lending -abbar auction Aoma- Iraqi financial institutions, such as Banks, which in turn lend or transfer of companies and people. In this way the distribution and circulation of dollars into the Iraqi economy. "

How signed dollars this permission, however, Iranian banks and Daash?

He added that the problem in the incidence of cash in the hands of Iranian banks or Daash back to December last year. US officials have expressed concern that the increase in the amounts of funds transferred to Iraq, without a clear reason to do so. Then he called on the Federal Treasury and the Ministry of Iraqi officials to a secret meeting in Istanbul to discuss the case.

Valfdrala about more than thirteen billion dollars from the Iraq account to the Central Bank in Baghdad in 2014, compared with slightly less than $ 4 billion in 2012, as quoted Allowal Street Journal.

US concerns focus first on about two thousand Exchange Centre related with Daash. This summer, Americans discovered -abbar Iraqi officials-that three Iranian banks under sanctions list - is the Islamic Cooperation Bank and Bank Melli and Bank Persian - got millions of dollars through the daily auction also.

Said Hanzer "The difference in the amount - between last year and between 2012 - is no longer the whole disturbing reasons" buy the dollar is a move towards safety, in periods of anxiety wanted persons and companies to maintain their financial liquidity, and confidence focus in the currency of the dollar. "

Why can the United States to impose conditions related to drag?

He added that US federal law prohibits sending any money in the bank doubted that it would be used to finance terrorism or go to destinations impose sanctions. Valdolarat are reliable global currency and the United States want to keep them as well, the importance of the dollar also means that financial transactions become another weapon in the arsenal of the United States against terrorism or in the fight against unfriendly governments. The use of dollars is a feature, not a right. "

How the issue has been resolved?

Hanzer confirmed that after months interrupted transfers where the Fed finally send $ 500 million to the Central Bank in Baghdad in August, but only after the situation worsened and after the central bank said that the reserves of dollars declined to a large degree.

The financing of terrorism official in the Ministry of the Treasury Daniel Glaser told the Allowal Street Journal "in terms of the fight against terrorism, it is not in the interest of the United States that Iraq is suffering from the result of a shortage of dollar coin economic crisis.""The US officials believe that the cooperation between Baghdad and Washington have improved and that the case is a thin line Tltzmh the Treasury Department and the Federal Reserve, between the fight against terrorism on the one hand, and between providing the necessary funds to run the economy on the other.

What is the impact of this on the tightening Daash Iranian banks?

For his part, Hanzer said that the effect is not as great as observers say. "This remains Iranian banks and Daash still can handle riyal or dinar, especially with regard to internal transactions."But the effect will be in the ability of these companies and institutions on foreign trade. The move also deprives them of access to dollars, which is considered a safe currency, especially in a period of wars and crises and periods of lack of confidence in local currencies.

 

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Our economy / Baghdad

Denied the Iraqi Central Bank, on Wednesday, reports that indicated to stop pumping money to him from his accounts in US Federal.

The bank said in a statement seen by the agency, "our economy," the news. "The news reported by some newspapers and news sites on the stop pumping money from his accounts to him by the US Federal baseless"

The bank said that "the US Federal continuously conducting all events of accounts being the only one responsible for it."

The Allowal Street Journal reported on Tuesday that the Federal Central Bank and the US Treasury cut off the flow of American cash to the Iraqi Central Bank this summer account, because of fears of money in Iranian banks or in the hands of Daash, to resume transfers only after the approval of Iraqi officials to impose strict controls on the dollar coin distribution.

 


Read more: http://dinarvets.com/forums/index.php?/topic/210786-central-news-infusion-of-funds-from-our-account-in-the-us-federal-halt-unfounded/#ixzz3qWEFyWO1

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US Officials Outline "Secret" Summer Operation To Stop Flow Of Dollars To ISIS

 
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Submitted by Tyler Durden on 11/03/2015 07:53 -0500
    •  

      Over the last five or so weeks, Washington has been in panic mode with regard to America’s “fight” against ISIS. Once the Russians arrived at Latakia and began to provide air cover for Iranian ground troops operating in Syria it was clear that the clock was ticking on the strategy of using Sunni extremists to overthrow the Assad regime. 

      That was bad news for Washington and its regional allies for a number of reasons. First, it meant that Iran was set to preserve the “Shiite crescent” and therefore Tehran’s supply line to Hezbollah. Second, it meant that the installing a “friendly” puppet government in Damascus was no longer in the cards and that doesn’t bode well for lucrative energy deals like the Qatar-Turkey natural gas pipeline. Third, it raised the possibility that the public would begin to get wise to the rather peculiar arrangements in place between Saudi Arabia and Qatar and the various Sunni militias fighting in Syria - including ISIS. 

      That last point is critical. If the US electorate ever gets anything that even looks like definitive evidence that Washington is knowingly supporting the group that’s been held up as the scourge of humanity they’ll be a public outcry the likes of which America hasn’t seen since Vietnam. So, Washington has done its best to suggest that the US is set to step up the fight. The campaign began with helmet cam footage depicting a successful raid on an ISIS prison in northern Iraq and swiftly morphed into an announcement from the Obama administration that America would soon put boots on the ground in Syria, presumably to be embedded with the Kurdish YPG.

      Well, in the latest example of Washington playing catch up, “officials familiar with the matter” have told WSJ about a concerted effort to cut off the flow of dollars to ISIS. Allegedly, the US became concerned about the amount of hard currency being shipped to Iraq over the summer. The problem: the requested amounts didn’t seem to be consistent with the country’s economic fundamentals and so, the US cut off Iraq’s access to dollar funding, nearly plunging the the country into crisis. Here’s more:

      Right. Ok, so this is another one of those scenarios where we’ll probably never know what the actual story is or was nor will we ever be able to gauge how accurate any of the above is in terms of depicting real events, but there are a couple of key takeaways. 

       
       

      The previously unreported move to stop the cash shipments pushed the Iraqi financial system to the brink of crisis and marked a climactic moment in efforts to avert the flow of dollars to U.S. foes.

       

      The situation sheds light on an important facet of the long-running U.S. battle against terror: Just as military officials worry about U.S. weapons getting to enemies, finance officials are on a global hunt to keep dollars from getting into the hands of adversaries who could use it to finance their activities.

       

      The spread of Islamic State set off alarms among U.S. officials about the potential for the currency shipments to be exploited by terrorists. The Sunni extremist group controls about a third of the war-torn country, including the second-largest city, Mosul, and is already well-funded from tax collections, oil sales and a range of other activities.

       

      The problem dates to last December when Fed and Treasury officials called a secret meeting in an Istanbul hotel conference room with Iraqi officials. The Americans were alarmed by the rising volume of dollars being shipped into Iraq and the lack of clarity into where the cash was ending up, the people said.

       

      Since the U.S. overthrew Saddam Hussein and helped establish the Central Bank of Iraq in 2004, the U.S. dollar has largely become the country’s chief currency because so much of the economy runs on cash. When Iraq needs more paper currency, the money is drawn from the country’s account at the Fed, funded largely by oil reserves, and flown to Baghdad.

       

      The amounts have been soaring. In 2014, annual U.S. dollar cash flow from the Federal Reserve Bank of New York to Iraq was $13.66 billion, more than triple the $3.85 billion in 2012, according to data compiled by Iraq’s parliament and reviewed by The Wall Street Journal.

       

      That spike doesn’t mesh with the sluggish Iraqi economy of late, and as a result U.S. officials suspected the dollars were being hoarded rather than circulated.

       

      The system for distributing dollars within Iraq works like this: Foreign central banks hold dollars and can call on the Fed for currency distribution. The new $100 notes are flown to Baghdad after leaving a Fed facility in East Rutherford, N.J. In Baghdad, the bills are moved to the Iraqi central bank, where they are sold in daily auctions in which Iraqi financial firms request dollars that they pay for largely using dinars, the country’s currency.

       

      ExchangeHouse_0.png

       

      Early on, U.S. concerns centered on roughly 2,000 financial firms called exchange houses, which are active participants in these auctions.

       

      U.S. officials believe several of these Iraqi firms have ties to Islamic State and have deep concerns the exchange houses are being used as conduits of dollars to the group, said a U.S. official and another person familiar with the matter. While the U.S. inevitably loses control at some point over the dollars it sends abroad, the Fed is barred from sending cash to entities it knows will distribute it to U.S. enemies.

       

      Around June, Iraqi officials working under the enhanced information-sharing agreement reported to their U.S. counterparts that three sanctioned Iranian banks—Islamic Regional Cooperation Bank, Bank Melli and Parsian Bank—had obtained at least millions of dollars through the auction. Like other Iranian banks, those were operating under international sanctions, and it was illegal for the Fed to knowingly ship dollars to them.

       

      U.S. officials around that time had concerns that Islamic State had gained access to dollars through the auctions,

      U.S. officials and people familiar with the matter said. The Iraqi officials believe the money has definitely gone to Islamic State through these auctions.

       

      Exchange houses in the northern, Kurdish-controlled city of Kirkuk—outside of Islamic State control but close to extremist front lines—are among the most active in allowing dollar flows into Islamic State-controlled territory and to Islamic State militants, Iraqi officials said. In addition, Islamic State in 2014 stole about $100 million from a Central Bank of Iraq-run vault in Mosul, said a person familiar with the theft.

       

      Based on the new information, U.S. officials sent a written demand around July to Iraqi officials that the Iranian banks be cut off and separately conveyed to Iraqi officials that the Fed wouldn’t approve cash requests until the overall situation improved.

       

      The decision was delivered just as Iraq’s central bank was running out of cash. Many Iraqis panicked after large withdrawal requests were denied, and the exchange rate fluctuated much more than usual.

      First, to the extent that the bit about Iranian banks accessing dollars through the FX auctions is true, it shouldn’t come as a surprise. Tehran is deeply embedded in Iraqi politics and one certainly imagines that it would be exceptionally easy for Iran’s financial institutions to tap into auctions where record keeping is poor, especially if there are a few bribes exchanged. 

      Second, we find it particularly amusing that the US is apparently so concerned about supplying Sunni extremist groups with dollars that Washington is willing to push Baghdad to the precipice of crisis in order to cut off the flow. After all, supplying Sunni militants with money and weapons is the whole strategy in Syria and has been from the beginning. Sure, the Kurds are involved on both sides of the border, but generally speaking, the Saudis and Qatar, with the tacit support of the US, have been arming and funding Sunni extremists in Syria for years and so if the Fed is concerned about the flow of dollars to those groups, they may want to consider... oh, we don’t know, not funding those groups and making sure Washington’s regional allies don’t either. 

      Even more amusing is this line: "...just as military officials worry about U.S. weapons getting to enemies." Yes, the US is so worried about that possibility that the Pentagon embarked on a $500 million effort to arm "properly vetted" fighters earlier this year and has now resorted to paradropping hundreds of tons (literally) of ammo and weapons into the middle of the desert and hoping the Kurds pick them up. Meanwhile, the CIA has funneled a completely unknowable amount of money and arms to a mishmash of Syrian Arabs battling the regime. Needless to say, there's absolutely no telling where those weapons will end up and where those fighters' loyalties will lie in the future.

      Obviously, this is just the latest piece of propaganda in what has become a truly epic farce. We'd also note that if the US is interested in stopping ISIS from robbing central bank vaults , Washington may want to consider giving some of the ammo and weapons the Pentagon is dropping into the desert in Syria to the Iran-backed Shiite militias operating in Iraq. Unlike the US-trained Iraqi regulars, they don't tend to run away when they're getting shot at. 

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Central: News infusion of funds from our account in the US Federal halt unfounded

November 4, 2015

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Our economy / Baghdad

Denied the Iraqi Central Bank, on Wednesday, reports that indicated to stop pumping money to him from his accounts in US Federal.

The bank said in a statement seen by the agency, "our economy," the news. "The news reported by some newspapers and news sites on the stop pumping money from his accounts to him by the US Federal baseless"

The bank said that "the US Federal continuously conducting all events of accounts being the only one responsible for it."

The Allowal Street Journal reported on Tuesday that the Federal Central Bank and the US Treasury cut off the flow of American cash to the Iraqi Central Bank this summer account, because of fears of money in Iranian banks or in the hands of Daash, to resume transfers only after the approval of Iraqi officials to impose strict controls on the dollar coin distribution.

Read more: http://dinarvets.com/forums/index.php?/topic/210786-central-news-infusion-of-funds-from-our-account-in-the-us-federal-halt-unfounded/#ixzz3qWEFyWO1

Thank Yota ! Even if half of this is true , not a calming situation for the Middle East. Aasad is as bad as Saddam was , and he needs to be put down like a rabid dog. The problem is who will feel the void ? And Iran .....I can't believe the nuke treaty.

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Just another story of the incredible levels of graft and corruption going on over there. Iraq has NO credibility in world financial organizations other than big brother "US" propping them up. It sounds like we are getting tired of doing that very thing. If we walk away from Iraq monetarily speaking, the dinar will probably collapse. That would be a very bad thing for us. I don't think our government would allow that, but who knows in this current administration.

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Government control over the remittances and banking offices are very weak

 

Author: BS, ZJ 
Editor: BK, BS 2015/11/05 13:16 Number of Views: 89 

 

 

 

Long-Presse / Baghdad

I went back a member of the financial committee in Parliament, on Thursday, that government control over currency conversions procedures "still very weak", while invited to monitor more effectively to the work of banking companies in order to preserve the national economy and prevent the financing of "terrorists", was not surprised by the United States that monitors transfers.

Said Najiba Najib, in an interview to the (long-Presse), said that "the Iraqi Central Bank to prevent dealing with some banking companies for violating his instructions", usually that "the Iraqi government's control over the movement of funds is very weak for not adopting corporate governance."

Najib said, that "state control over currency conversions procedures, whether internal or external, are still weak," noting that "Iraq if it has a strong and well-developed banking system, easily able to control such transfers."

She explained a member of the Parliamentary Finance Committee, that there are "internationalist decision to prevent the financing of terrorist groups in Iraq," indicating that "the presence of security and political agreements and economic between the United States and Iraq, enabled her to get a proof evidence on the existence of suspicion of funneling money to terrorist groups, especially that of globalization and development Technical allows for the possibility that Washington ".

According to Najib, that "the government suspended the salaries of staff in areas under the control of Daash, to the presence of international and American information confirming that some of them go to finance Daash," pointing out that "Transparency International confirmed the existence of money laundering crimes in Iraq, estimated at nearly took the signed international list black, not for money laundering legislation law. "

She called a member of the parliamentary finance committee, the government and the concerned authorities, to "monitor banking transactions in order to preserve the national economy and prevent the financing of terrorists."

The Wall Street Journal, the economic American, confirmed, (third from November current 2015), that the United States is concerned about the possibility of leakage of millions of dollars of the money that you send to Iraq, to ​​the views of "a hostile, especially organizing Daash", or "prohibited" under international sanctions such as Iran, while showed that Washington agreed with Baghdad on strengthening surveillance and control measures, especially on the currency auction, many banking offices that the accused had "suspicious links."

The World Bank's pressure forced the Iraqi government and parliament, in (Al19mn September 2015), to approve the legislation law "money laundering and combating the financing of terrorism", days of the deadline to put on the "black list before."

And washing or "bleaching" of funds, economic crime designed to legitimize illegal to taboo funds, for the purpose of acquisition, disposition or manage, save, or replace, or deposited or invested or transferred or moved or manipulated in value if they are obtained from a crime, such as those related to the production drug or traded, or stolen jewels, as well as kidnapping, terrorism, fraud and breach of trust, fraud, fraud and immorality, prostitution and trafficking of antiquities and smuggling crimes, felonies and misdemeanors harmful to state security on the one hand the outside and inside, and bribery, and embezzlement of public money and aggression, and treachery, and crimes of fraud, and other Business illegal.


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Baghdad / follow-up Baghdadiya News / .. Allowal Street Journal revealed yesterday, Tuesday, that the Federal Central Bank and the US Treasury cut off the flow of American cash to the Iraqi Central Bank this summer account, because of fears of money in Iranian banks or in the hands of Daash , that is the resumption of transfers only after the approval of Iraqi officials to impose strict controls on the dollar coin distribution.




 


The case represents a crucial point in the US government's efforts to avert the occurrence of dollars in the hands of their opponents, while sheds light on the way in which countries get the US criticism.


Said Jonothin Hanzer, a former official in the Treasury Department and a member of protecting democracies Center in Washington, in the "televised" dialogue that account history dating back to 2003. "The United States is committed to the need to preserve Iraq's financial liquidity, and the account was used for the transfer of US aid and loans to Baghdad as Iraq used when you want to sell oil, as the dollar is the currency used for international transactions."


He Hanzer. "This is not surprising, there are a lot of countries that retain the account with the US Federal capable of transferring large amounts of dollars when needed. When those dollars up to the Iraqi Central Bank is" selling "or lending -abbar auction Aoma- Iraqi financial institutions, such as Banks, which in turn lend or transfer of companies and people. In this way the distribution and circulation of dollars into the Iraqi economy. "


He added that the problem in the incidence of cash in the hands of Iranian banks or Daash back to December last year. US officials have expressed concern that the increase in the amounts of funds transferred to Iraq, without a clear reason to do so. Then he called on the Federal Treasury and the Ministry of Iraqi officials to a secret meeting in Istanbul to discuss the case.


Valfdrala about more than thirteen billion dollars from the Iraq account to the Central Bank in Baghdad in 2014, compared with slightly less than $ 4 billion in 2012, as quoted Allowal Street Journal.


US concerns focus first on about two thousand Exchange Centre related with Daash. This summer, Americans discovered -abbar Iraqi officials-that three Iranian banks under sanctions list - is the Islamic Cooperation Bank and Bank Melli and Bank Persian - got millions of dollars through the daily auction also.


Said Hanzer "The difference in the amount - between last year and between 2012 - is no longer the whole disturbing reasons" buy the dollar is a move towards safety, in periods of anxiety wanted persons and companies to maintain their financial liquidity, and confidence focus in the currency of the dollar. "


He added that US federal law prohibits sending any money in the bank doubted that it would be used to finance terrorism or go to destinations impose sanctions. Valdolarat are reliable global currency and the United States want to keep them as well, the importance of the dollar also means that financial transactions become another weapon in the arsenal of the United States against terrorism or in the fight against unfriendly governments. The use of dollars is a feature, not a right. "


Hanzer confirmed that after months interrupted transfers where the Fed finally send $ 500 million to the Central Bank in Baghdad in August, but only after the situation worsened and after the central bank said that the reserves of dollars declined to a large degree.


The financing of terrorism official in the Ministry of the Treasury Daniel Glaser told the Allowal Street Journal "in terms of the fight against terrorism, it is not in the interest of the United States that Iraq is suffering from the result of a shortage of dollar coin economic crisis." "The US officials believe that the cooperation between Baghdad and Washington have improved and that the case is a thin line Tltzmh the Treasury Department and the Federal Reserve, between the fight against terrorism on the one hand, and between providing the necessary funds to run the economy on the other.


For his part, Hanzer said that the effect is not as great as observers say. "This remains Iranian banks and Daash still can handle riyal or dinar, especially with regard to internal transactions." But the effect will be in the ability of these companies and institutions on foreign trade. The move also deprives them of access to dollars, which is considered a safe currency, especially in a period of wars and crises and periods of lack of confidence in local currencies. End



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11/11/2015 (00:01 pm)   -   the number of readings: 866   -  number (3499)
 
 
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BAGHDAD / Ibrahim Ibrahim 
 

He called on the Iraqi government economists to take the advice of the US Federal Bank to curb the smuggling of currency operations and control the flow of money, demanding to find alternatives to currency auction without affecting the stability of domestic prices to the market.

The economist said Maytham coffee in an interview (range), that "the US Federal Bank's position on the Central Bank, is the practice of two main functions, the first is the support and assistance and to express an opinion and advice, the second is an observation in terms of financial and drag-and-flow processes to the government, and also control and money coming into Iraq Fund as a result of the sale of oil. 
"He added that" the Fed is watching the money that could be smuggling operations occur in the Iraqi Central Bank usually offers advice to the Iraqi side the need to address the exchange rate towards liberalization and subjected to the forces of supply and demand than in the keep under the control of the Bank and the currency determined by the auction. " He said that "at the same time advised to cash in general and economic stability in order to prevent exposure economy big shocks, as advised to maintain foreign reserves and not depleted." 
He continued, "The currency auction and the proposed suspension by the central bank, the bank could provide on the move, what their impact on the breach of economic stability and the fear of rising dollar exchange rate and the decline of the dinar value, especially with the inability of the economy to generate production and its dependence on imports, and the existence of a group traders and dealers would be conducted by speculation that could lead to a sharp rise in the dollar exchange rate. 
"He noted that "The central bank looking for alternative solutions to the auction currency, so as to ensure the achievement of the equation is not easy to include the preservation of foreign reserves and prevent drained quickly, with the continuation of the monetary and economic stability, the equation is far from easy, and that with such a situation in which the economy back on Exchange Rate Powered by the bank over the long years. 
"Allowal Street Journal revealed that the Federal Central Bank and the US Treasury cut off the flow of American cash to the Iraqi Central Bank account this summer, because of fears of Iranian money in banks or in the hands of Daash. To resume transfers only after the approval of Iraqi officials to impose strict controls on the dollar coin distribution. For his part, economist Mustafa Mohamed Habib said in an interview (range), "The way the Central Bank's work in recent years has raised a lot of questions about the amount of money smuggled out of the country by the daily currency auction." 
He added that "the doubts and the information provided to the bank US Fed, led to the direct warnings to the administration to the central bank on the effectiveness of local laws towards big waste of foreign currency. 
"He said the beloved" The Iraqi economy is not in isolation from the world economic movement, and there is a global supervisory institutions for the movement of the dollar in different directions can determine the direction of money and methods various washed. 
"He said the" work of the US Federal bank regulatory only and has the ability to advise you of some of the international institutions for the development of internal work, including the Central Bank of Iraq. 
"He pointed to" the need to take the government's advice provided and built upon to rid the work of the Bank of the phenomena of rampant financial corruption inside the local market and a private auction sale of foreign currencies, which drives the local market according to data to be mostly different from the laws and regulations currently in. 
"The Central Bank of Iraq denied, earlier reports that indicated to stop pumping money to him from his accounts in the US Federal. 
The bank said In a statement, the "long" has received a copy of "the news reported by some newspapers and news sites about the stop pumping money to him by his calculations by the US Federal baseless." 
The bank said that "the US Federal continuously conducting all events of accounts being the only party responsible for the it. "

 


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***///

 

gotta watch  BOTH HANDS of this 'administration' --- they'll tell ya they're stoppin' the flow of

dollars to terrorists,

then turn around, cut a bogus deal with Iran, and release all Iran's frozen assets to 'em in order

for them to continue funding hobummer's little radical islamist pals..... <_<

 

All by design, folks... all by design. deflect, deflect, deflect and lie.

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