New word...no RV in 2010 according to the CBI!!!

[hrdbawl]

Don't shoot me guys! I'm putting this out there in hopes that Viper and his Iraqi partner as well as Steve and his team might be able to refute this comment from AC. Let's hope so as he is saying the UNSC is going to give the 1 year extension after all. Not sure if this shoos us in the foot or not. Comments?

More Iraq information from the AC.

The United Nations Security Council (UNSC) ended their meeting regarding Iraq. The UNSC received from official channels that the government of Iraq will be extending the Development Fund of Iraq for another year. This is a topic that I have been mentioning on and off for the past six months. The current Iraqi banking industry, both private and state (banks) are too weak to accept the DFI funds. The Ministry of Finance has said in local reports in reference to the DFI account that Iraq is just not ready or willing to accept the risks.

http://www.another site

[Double R]

This just means the funds in the DFI are going to continue to be protected from lawsuits.

[tripthelight]

Could someone explain why this would mean no RV?

[Double R]

I'm guessing that if they got release from Chapter 7, that would mean these funds would be released and no longer protected from lawsuits. So they do a pseudo-CH 7 which still protects the DFI money but allows them to be free from CH 7.

[PacoTaco]

Well, that is a big bummer! Back to the salt mines for now.

[SteveI]

Great question. I just went back to my notes from our conference call the other day and this was a question I asked. I was told that the DFI issues has no bearing on any upcoming events. Also a comment that I have been reading, banks are on the edge and all of the currency realignment you have seen this past couple weeks is being based on the new currency rate increase. Anyone else on this call please confirm this? I am going off my notes I wrote down.

Everything is positive and is on track. I certainly have no worries or concerns.

God Bless.

Edited November 12, 2010 by SteveI

[ha ha]

Don't ever believe what A C says, never. He is an agent of GoI to misinform and confuse the big potential boys who might want to put a dent on foriegn curreny exhange of Iraq.

[tripthelight]

That sounds good, but why would it mean then no RV. If anything, it would help the process of the reval along. Am I not understanding something here?

[cris]

RV first....then chapter 7....thats the way i understand it

[tripthelight]

Great question. I just went back to my notes from our conference call the other day and this was a question I asked. I was told that the DFI issues has no bearing on any upcoming events. Also a comment that I have been reading, banks are on the edge and all of the currency realignment you have seen this past couple weeks is being based on the new currency rate increase. Anyone else on this call please confirm this? I am going off my notes I wrote down.

God Bless.

Thank you, Steve. I look forward to what you have to say about this, and anyone else who might be knowledgeable about the process.

[Double R]

Remember this order:

Govt formed

Chapter 7

RV

Remember what Okie said about the snag with the DFI funds. This IMO just paves the way for Chapter 7 and then we know what's after that.

[tripthelight]

RV first....then chapter 7....thats the way i understand it

Now I'm really confused. I thought it was release of Chapter 7 and then an RV?

Okay Double R. That's what I had remembered. I'll have to go back and look at the notes from Okie about the DFI funds. I have forgotten what he said. But from what I'm remembering, this is not necessarily a bad thing and not necessarily something that could hold up the RV.

[Double R]

You can't trade the currency internationally until CH 7 is released.

[tripthelight]

You can't trade the currency internationally until CH 7 is released.

So, what do mean then when you say, "So they do a pseudo-CH 7 which still protects the DFI money but allows them to be free from CH 7." ?

[Logical1]

I personally take what AC puts out there with a "grain of salt"... and i mean a "grain"

[Captjohn]

This is the type of uninformed, bomb-throwing post that dirves me up the wall. To title a post "New Word...no RV according to the CBI!!!" is misleading and irresponsible. You have no idea what is going on and to title your post as you have, is only destabilizing a lot of investors.....unless that is your motive. Mods, please note this and please screen posts like this for misleading and misrepresented content.

[Double R]

This country has been out of CH 7 for a while just not formally. Countries under Chapter 7 don't have ships come into ports to trade goods.

They'll have every right any sovereign country has except the DFI funds continue to be protected. This is what has been stated on these forums for quite a while.

[Rhinestone Cowboy]

This is the type of uninformed, bomb-throwing post that dirves me up the wall. To title a post "New Word...no RV according to the CBI!!!" is misleading and irresponsible. You have no idea what is going on and to title your post as you have, is only destabilizing a lot of investors.....unless that is your motive. Mods, please note this and please screen posts like this for misleading and misrepresented content.

I couldn't have said it better Captjohn.

[cbs71]

This is the type of uninformed, bomb-throwing post that dirves me up the wall. To title a post "New Word...no RV according to the CBI!!!" is misleading and irresponsible. You have no idea what is going on and to title your post as you have, is only destabilizing a lot of investors.....unless that is your motive. Mods, please note this and please screen posts like this for misleading and misrepresented content.

I agree! People are quick to type without even thinking it through thoroughly about what they are posting..thus causing mass hysteria when they, themselves don't have a clue about what is going on. And please, please, please people stop feeding into this..it will save you stress among other things. How many times have we gone through this where one post, kills the momentum? Breathe...

Okay, I'm done venting...

[hrdbawl]

Don't shoot me guys! I'm putting this out there in hopes that Viper and his Iraqi partner as well as Steve and his team might be able to refute this comment from AC. Let's hope so as he is saying the UNSC is going to give the 1 year extension after all. Not sure if this shoots us in the foot or not. Comments?

More Iraq information from the AC.

The United Nations Security Council (UNSC) ended their meeting regarding Iraq. The UNSC received from official channels that the government of Iraq will be extending the Development Fund of Iraq for another year. This is a topic that I have been mentioning on and off for the past six months. The current Iraqi banking industry, both private and state (banks) are too weak to accept the DFI funds. The Ministry of Finance has said in local reports in reference to the DFI account that Iraq is just not ready or willing to accept the risks.

http://www.another site

[powerpager]

WHAT ARE YOU SMOKING ???

[SteveI]

RV first....then chapter 7....thats the way i understand it

Good morning cris, in no way am I questions your information, however I would like to correct it as to facts. The UN has approved the removal of Chapter 7 being lifted with guidelines. The two guidelines in question were the current value of the currency has to be increased and the Oil for Food. I hope this helps. God Bless.

Edited November 12, 2010 by SteveI

[vibo]

I am still new here and not too familiar with AC. Now that I have said that, I just had a gut feeling that AC would make an announcement like that!! We were getting some good positive info, govt doing well, Then AC. I am not surprised, and I still hope he is wrong at the same time.

[unclegeek]

who is ac? Not familiar with that one.

[hrdbawl]

Great question. I just went back to my notes from our conference call the other day and this was a question I asked. I was told that the DFI issues has no bearing on any upcoming events. Also a comment that I have been reading, banks are on the edge and all of the currency realignment you have seen this past couple weeks is being based on the new currency rate increase. Anyone else on this call please confirm this? I am going off my notes I wrote down.

Everything is positive and is on track. I certainly have no worries or concerns.

God Bless.

Thanks for that heads up Steve. I was hoping you or Viper (just because we know of your contacts and/or teams that could refute what AC said in the longer version of his post) would have a different take on that. I wouldn't have even raised this or posted this except for AC stating (which it just uncanny that he pulls back the reigns each time) that the CBI "won't RI/RV in 2010. Needless to say I figured I better get you guys in on it as I trust what your sources over AC's in a heart beat!