MAW33326 Posted June 30, 2011 Report Share Posted June 30, 2011 Media Note Office of the Spokesperson Washington, DC June 30, 2011 The United States has completed its evaluation of Iraq's ongoing efforts to finalize the full and effective transition to a post-Development Fund for Iraq mechanism by June 30, 2011. Recognizing positive developments in this regard, including progress in resolving outstanding debts and claims arising from actions of the previous regime, and in accordance with the President’s May 17, 2011 Notice on the Continuation of the National Emergency with Respect to the Stabilization of Iraq, the President has determined to continue these arrangements for the full twelve month period ending on May 20, 2012. As a result, 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, will remain in effect until May 20, 2012. Iraq has made significant strides in resolving its outstanding international liabilities and continues to work towards returning Iraq to the international standing it held prior to the Saddam Hussein regime. http://www.state.gov/r/pa/prs/ps/2011/06/167387.htm 3 Link to comment Share on other sites More sharing options...
edwarda Posted June 30, 2011 Report Share Posted June 30, 2011 I am so bummed, here goes another year of waiting as I see it. 1 Link to comment Share on other sites More sharing options...
ICantBelieveItsMicheal Posted June 30, 2011 Report Share Posted June 30, 2011 Well now this shows the Gurus and everybody else that they have no idea whats going on...Just sit back and chill, and lets wait til May 2012. Link to comment Share on other sites More sharing options...
Psych Posted June 30, 2011 Report Share Posted June 30, 2011 Great....this will give me another year to get up to a 1000 posts....much rather have that than $. 2 Link to comment Share on other sites More sharing options...
nointel Posted June 30, 2011 Report Share Posted June 30, 2011 this doesn't sound good. i'm just about ready to get off this ride. 2 Link to comment Share on other sites More sharing options...
Rumorbroozer Posted June 30, 2011 Report Share Posted June 30, 2011 (edited) Any thoughts!!!!? They have extended the dfi!!! Media Note Office of the Spokesperson Washington, DC June 30, 2011 The United States has completed its evaluation of Iraq's ongoing efforts to finalize the full and effective transition to a post-Development Fund for Iraq mechanism by June 30, 2011. Recognizing positive developments in this regard, including progress in resolving outstanding debts and claims arising from actions of the previous regime, and in accordance with the President’s May 17, 2011 Notice on the Continuation of the National Emergency with Respect to the Stabilization of Iraq, the President has determined to continue these arrangements for the full twelve month period ending on May 20, 2012. As a result, 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, will remain in effect until May 20, 2012. Iraq has made significant strides in resolving its outstanding international liabilities and continues to work towards returning Iraq to the international standing it held prior to the Saddam Hussein regime. http://www.state.gov/r/pa/prs/ps/2011/06/167387.htm Edited June 30, 2011 by Munsch fixed link 2 1 Link to comment Share on other sites More sharing options...
2fast4u2c Posted June 30, 2011 Report Share Posted June 30, 2011 Link? 1 Link to comment Share on other sites More sharing options...
cisole Posted June 30, 2011 Report Share Posted June 30, 2011 Link to comment Share on other sites More sharing options...
dizzyd Posted June 30, 2011 Report Share Posted June 30, 2011 Thanks for the post, to me it's just giving them additional protection which was to be expected, they weren't going to make Iraq vulnerable to creditors at this point given what we have invested in them! It doesn't mean that they still aren't going to implement the change to their currency soon. Go RV!! 4 Link to comment Share on other sites More sharing options...
Terrill Posted June 30, 2011 Report Share Posted June 30, 2011 Here is the Link National Emergency with Respect to the Stabilization of Iraq to Continue for Full Year Media Note Office of the Spokesperson Washington, DC June 30, 2011 The United States has completed its evaluation of Iraq's ongoing efforts to finalize the full and effective transition to a post-Development Fund for Iraq mechanism by June 30, 2011. Recognizing positive developments in this regard, including progress in resolving outstanding debts and claims arising from actions of the previous regime, and in accordance with the President’s May 17, 2011 Notice on the Continuation of the National Emergency with Respect to the Stabilization of Iraq, the President has determined to continue these arrangements for the full twelve month period ending on May 20, 2012. As a result, 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, will remain in effect until May 20, 2012. Iraq has made significant strides in resolving its outstanding international liabilities and continues to work towards returning Iraq to the international standing it held prior to the Saddam Hussein regime. 3 1 Link to comment Share on other sites More sharing options...
Darin Posted June 30, 2011 Report Share Posted June 30, 2011 Thanks for the post, to me it's just giving them additional protection which was to be expected, they weren't going to make Iraq vulnerable to creditors at this point given what we have invested in them! It doesn't mean that they still aren't going to implement the change to their currency soon. Go RV!! That is the way I see it. EO's may be terminated at any time... But, the reason this is more sad than anything else, the GOI can now continue to drag their feet. Regardless, the UN protection is no longer available. The U.S. has a little bit more leverage in my opinion. 2 Link to comment Share on other sites More sharing options...
JMcFarland Posted June 30, 2011 Report Share Posted June 30, 2011 FML........... 2 Link to comment Share on other sites More sharing options...
Rumorbroozer Posted June 30, 2011 Report Share Posted June 30, 2011 Here is the Link National Emergency with Respect to the Stabilization of Iraq to Continue for Full Year Media Note Office of the Spokesperson Washington, DC June 30, 2011 The United States has completed its evaluation of Iraq's ongoing efforts to finalize the full and effective transition to a post-Development Fund for Iraq mechanism by June 30, 2011. Recognizing positive developments in this regard, including progress in resolving outstanding debts and claims arising from actions of the previous regime, and in accordance with the President’s May 17, 2011 Notice on the Continuation of the National Emergency with Respect to the Stabilization of Iraq, the President has determined to continue these arrangements for the full twelve month period ending on May 20, 2012. As a result, 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, will remain in effect until May 20, 2012. Iraq has made significant strides in resolving its outstanding international liabilities and continues to work towards returning Iraq to the international standing it held prior to the Saddam Hussein regime. Um O.K?! 1 Link to comment Share on other sites More sharing options...
ICantBelieveItsMicheal Posted June 30, 2011 Report Share Posted June 30, 2011 But with this added protection for another year...then why would they have rush still? I mean people said something about this Paris club thing? Wouldnt that protect Iraq for another year to make payments to them then? This is so confusing. I think with this coming out, I honestly believe alot of people are about to jump off this ride...like quick. 2 Link to comment Share on other sites More sharing options...
Nelg Posted June 30, 2011 Report Share Posted June 30, 2011 There is another post with the same information. I have read nothing but bad news today. I just wondering where all the good news is that we were to hear?! Not one word of positive reinforcement. All the positive have been rumors and not factual material. I'VE GOT TO HAVE SOME RELIEF!!!! Bye, everyone have fun. Nelg 1 Link to comment Share on other sites More sharing options...
FRUSTRATED Posted June 30, 2011 Report Share Posted June 30, 2011 I still think the US should make IRAQ one big parking lot with a oil spigot in the middle for the betterment of americans. **** CHENEY I think your plan may be backfiring!!! Hence the screen name "FRUSTRATED". 2 2 Link to comment Share on other sites More sharing options...
Nelson0528 Posted June 30, 2011 Report Share Posted June 30, 2011 I don't think this will be tied to the release of Ch 7. This is an American Presidential Order to protect the funds that are deposited here. I would still look for something to happen very soon with Ch 7. But, that is just my opinion... 3 Link to comment Share on other sites More sharing options...
Brisco Posted June 30, 2011 Report Share Posted June 30, 2011 The way I read this is that it just protects the funds for another year from whom ever wants to pursue claims or judements against IRAQ And go after some of the DFI funds with a suit ? This is good. Do not panic. 6 Link to comment Share on other sites More sharing options...
Joost Posted June 30, 2011 Report Share Posted June 30, 2011 so,....no RV this year??? 1 Link to comment Share on other sites More sharing options...
dizzyd Posted June 30, 2011 Report Share Posted June 30, 2011 IMHO i just don't see this as a negative, it's giving them time which they had to do. I don't think it has anything to do with with Shabs moving on what the CBI is going to do!! It was a necessary step, that's all.. 2 Link to comment Share on other sites More sharing options...
drox Posted June 30, 2011 Report Share Posted June 30, 2011 (edited) I would have been shocked if they didn't. I strongly think the DFI is only to protect from creditors at this point and to protect the Iraqi citizens from Maliki and crooked politicians. It will buy time to complete the oil metering as well. They don't need the DFI to manipulate the exchange rate because there isn't as much in the DFI as you have been told. It is less than $10 Billion at any given time. The account is a flow through for auditing... it is NOT a savings account! All is not lost. This is a good thing! Edited June 30, 2011 by drox 9 Link to comment Share on other sites More sharing options...
Rumorbroozer Posted June 30, 2011 Report Share Posted June 30, 2011 I don't think this will be tied to the release of Ch 7. This is an American Presidential Order to protect the funds that are deposited here. I would still look for something to happen very soon with Ch 7. But, that is just my opinion... It's almost like the Iraqi gov doesn't want to rv there currency theve had every chance to do it. I just think if someone told me hey I got a way I can turn your $100 dollars into $1,000,000 and all you have to do is say this!!! I would be all over it. Just sayin??? Link to comment Share on other sites More sharing options...
Serenity Posted June 30, 2011 Report Share Posted June 30, 2011 I see this as a positive also....So they can go on with their business and revalue their currency without any worry of lawsuits....Sounds good to me!! 2 Link to comment Share on other sites More sharing options...
AkinNAUY Posted June 30, 2011 Report Share Posted June 30, 2011 ANY THOUGHTS KEEPM? Link to comment Share on other sites More sharing options...
easyrider Posted June 30, 2011 Report Share Posted June 30, 2011 I would have been shocked if they didn't. I strongly think the DFI is only to protect from creditors at this point and to protect the Iraqi citizens from Maliki and crooked politicians. It will buy time to complete the oil metering as well. They don't need the DFI to manipulate the exchange rate because there isn't as much in the DFI as you have been told. It is less than $10 Billion at any given time. The account is a flow through for auditing... it is NOT a savings account! All is not lost. This is a good thing! thanks drox. For your input. Link to comment Share on other sites More sharing options...
Recommended Posts