White House

[Psych]

* The White House

May 17th, 2011 06:52 pm · Posted in NEWS (Iraq & World Currency)

The White House

Office of the Press Secretary

For Immediate ReleaseMay 17, 2011

Message from the President regarding the continuation of the national emergency with respect to the stabilization of Iraq

TEXT OF A LETTER FROM THE PRESIDENT

TO THE SPEAKER OF THE HOUSE OF REPRESENTATIVES

AND THE PRESIDENT OF THE SENATE

May 17, 2011

Dear Mr. Speaker: (Dear Mr. President:)

Section 202(d) of the National Emergencies Act (50 U.S.C. 1622(d)) provides for the automatic termination of a national emergency unless, prior to the anniversary date of its declaration, the President publishes in the Federal Register and transmits to the Congress a notice stating that the emergency is to continue in effect beyond the anniversary date. In accordance with this provision, I have sent the enclosed notice to the Federal Register for publication continuing the national emergency with respect to the stabilization of Iraq. This notice states that the national emergency with respect to the stabilization of Iraq declared in Executive Order 13303 of May 22, 2003, as modified in scope and relied upon for additional steps taken in Executive Order 13315 of August 28, 2003, Executive Order 13350 of July 29, 2004, Executive Order 13364 of November 29, 2004, and Executive Order 13438 of July 17, 2007, is to continue in effect beyond May 22, 2011.

Obstacles to 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 continue to pose an unusual and extraordinary threat to the national security and foreign policy of the United States. Accordingly, I have determined that it is necessary to continue the national emergency with respect to this threat and maintain in force the measures taken to deal with that national emergency.

Recognizing positive developments in Iraq, the United Nations Security Council decided, in Resolution 1956 (2010), to terminate on June 30, 2011, arrangements concerning the Development Fund for Iraq established in Resolutions 1483 (2003) and 1546 (2004). The Security Council also called upon the Iraqi government to finalize the full and effective transition to a post‑Development Fund mechanism by June 30, 2011. My Administration will evaluate Iraq’s ongoing efforts in this regard, as well as its progress in resolving outstanding debts and claims arising from actions of the previous regime, so that I may determine whether to continue beyond June 30, 2011, the prohibitions contained in 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, the accounts, assets, and property held by the Central Bank of Iraq, and Iraqi petroleum‑related products, which are in addition to the sovereign immunity accorded Iraq under otherwise applicable law.

Sincerely,

BARACK OBAMA

http://www.whitehous…cy-respect-stab

Working Link

http://www.whitehouse.gov/the-press-office/2011/05/17/message-president-regarding-continuation-national-emergency-respect-stab

[mcfly831]

Extended to June 30th

[lionfish]

I hope June 30th is all they need!

COME ON RV!!

[zaborniake]

Hmm. The two are running parallel to each other. June 30th seems to be the date.

[Butifldrm]

psych, this is a great find.. every other time the DFI protection was extended it was for 6 months or more. To me this says we are very close if they are only extending for a little over a month. Yahoo Go RV

[cbisinger]

[TouchDownDance]

Oh Yes! Time for a 4th of July Party!!!

[zaborniake]

This isn't an extension of the DFI, it's an extension of national emergency with respect to the stabilization of Iraq declared in Executive Order 13303 of May 22, 2003, as modified in scope and relied upon for additional steps taken in Executive Order 13315 of August 28, 2003, Executive Order 13350 of July 29, 2004, Executive Order 13364 of November 29, 2004, and Executive Order 13438 of July 17, 2007.

Basically, Iraq's petroleum funds and other assets will continue to be moved into the DFI until June 30th. This is added pressure for them to form the GOI, IMO.

Maybe O is paying attention?

[chilli24]

June 30 , US forcing GOI to be done, and hopefully RV!

[horsesoldier]

Well,perhaps this is the deal that cinches.Guess the drop dead date of 30 June '11 ( if all things were to line up down the road)...suppose I could schlep out 6 weeks give or take the wild hair up someones' Jack Seat in the Oli Field

[Midx1]

This isn't an extension of the DFI, it's an extension of national emergency with respect to the stabilization of Iraq declared in Executive Order 13303 of May 22, 2003, as modified in scope and relied upon for additional steps taken in Executive Order 13315 of August 28, 2003, Executive Order 13350 of July 29, 2004, Executive Order 13364 of November 29, 2004, and Executive Order 13438 of July 17, 2007.

Basically, Iraq's petroleum funds and other assets will continue to be moved into the DFI until June 30th. This is added pressure for them to form the GOI, IMO.

Maybe O is paying attention?

That's what I read also.

Time to get things moving, the USA is getting tired of spoon feeding these ones.

[zaborniake]

I'm interested to see what Scooter and Juni have to say about this...

[chilli24]

I have to think chances of July 1 R/V just got really good!

[coldwarvet]

I think there are a several important interlocking financial and geopolitical issues at play here:

1. The ongoing drama regarding the seating of GOI security ministers. Pres. Obama just laid down the gauntlet: get it done by June 30th.

2. The continuing drama surrounding the US debt crisis. Number 1. and 2. may be interrelated, IMO.

3. The signals being sent by former Fed chairman Greenspan and others regarding a global transition to an asset-based financial system.

4. The recent revelations of HUGE oil and natural gas reserves in the US/Canada, making the US the nation with the world's largest oil/gas reserves. This may have a significant impact on the future strength of the USD. Numbers 3. and 4. may be related, IMO.

The fact that P.O. 13303 was only extended by one month could very well be a signal that the RV is close. Only time will tell. GO RV!

[juni]

This is playing it safe--- Remember the post that Linny first posted here of mine? While I didn't have the initial reading of the date right (that was over a month ago, so I had not dissected it thoroughly - lol), I said that the expiration of the EO and the expiration of the Ch. VII posed somewhat of a 'gray area' in terms of protection, and actually said that they would either be out of Ch. VII before the EO expires naturally, OR they would extend it to cover that period b/w then and June 30. Since that time I found that it is still protected via the ISISR regs, however I see them doing this EO as a "just in case" legal mechanism. No sense in taking a risk in legal interpretation when all he has to do is sign an EO.

The purpose of the EO in terms of protection as compared to the UN Res. 1483---

Think about it this way.

The UN Res. that speaks to DFI fund protection applies to all the UN members on a GLOBAL scale.

YET-- BECAUSE the $$$$$$$ is on US SOIL, the EO from the US President is necessary as well.

Edited May 18, 2011 by juni

[zaborniake]

The language that O used is a kind of a wait and see:

My Administration will evaluate Iraq’s ongoing efforts in this regard, as well as its progress in resolving outstanding debts and claims arising from actions of the previous regime, so that I may determine whether to continue beyond June 30, 2011, the prohibitions contained in 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, the accounts, assets, and property held by the Central Bank of Iraq, and Iraqi petroleum‑related products, which are in addition to the sovereign immunity accorded Iraq under otherwise applicable law.

[beachdreaming]

That is a great find! Question though.. does this mean that the RV won't have a chance of happening until after the 30th of June?

[juni]

zaborniake, that is very perceptive. It is rather interesting because he does not provide an end date, and yet the interpretation is (IMHO) that the EO is going to expire "when" the UN Res. expires on 6/30, or they exit it sooner.

This is not a bad thing, ya'll. It is lawyers being lawyers. Remember I said in the other post that the 17th "could" be the legal effective date of the last EO, as that is the date it was published in the Federal Register --- and this would then make the one year expiration TODAY. They are doing this as a fail safe mechanism so that no saavy lawyer could come in and claim the DFI funds were unprotected and subject to levy or attachment. It is all good and exactly what you would expect them to do to make sure there is no legal loophole possible.

On another board there was a thread by someone suggesting that the EO ALSO extended the UN deadline.

NOT SO.

The President has no authority to extend a UN Resolution. So let's just stay on track with the Ch. VII deadline is June 30th, and the EO will expire when they come out of Ch. VII.

Now let me ask you this ...

Why didn't he just put June 30th, 2011 as the expiration date (meaning, why not be very clear about it)?

Weeeellllll... How about the fact that if they exit SOONER from Ch. VII, he need not do another EO ending this one?

See that leaves the window open so that it can end SOONER than June 30.

That's a good thing.

Edited May 18, 2011 by juni

[zaborniake]

It's going to be an interesting next few weeks...

Juni, thanks for joining the site. You're a much better asset than Okie!

[Carrello]

I'm interested to see what Scooter and Juni have to say about this...

Ask and you will receive...you have a message from a Newbie.

[mlay901]

Great find/post!! Might I suggest adding 13303 to the title in some way? Regardless...Thanks for the post! GO RV!

[happygilmore]

I'm sorry but that's not how I read it. It looks to me like he is saying they will "extend if necessary

so that I may determine whether to continue beyond June 30, 2011" And we all know what happens when Iraq hits a dead line. I'm thinking September or October if were lucky. JMO

[Pegleg]

Psych thank you for the post

[fox]

This definitely points to something being up since he only extended it a month and not a year.

[zaborniake]

http://www.whitehouse.gov/the-press-office/2011/05/17/message-president-regarding-continuation-national-emergency-respect-stab

for those who wanted the whole link...