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National Emergency with Respect to the Stabilization of Iraq to Continue for Full Year


MAW33326
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All this does is protect the Iraqi funds from lawsuits, etc while they transition from the DFI. This will help Iraq. This won't push anything out to next year. They still have to pay the Paris Club debt. Nothing has changed. The US was not going to let Iraq become exposed to international creditors. It's that simple.

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What we've been waiting for is:

-Release from Chap 7

-HCL Law

-Security ministers seated

-Low denoms released

The DFI as Drox stated is just US protection from creditors and crooked Ma Effers. This is my interpretation....Am I missing something?

Good summation...what's difficult for us is that all these things could happen very quickly....or be drug out for a very long time.

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I quote again

"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."

Regardless of the UN the EO protects everything as the statement above says.

I'm sorry, but I do not see this as good new for us for the RV right now. GOD, I hope I'm wrong

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All this does is protect the Iraqi funds from lawsuits, etc while they transition from the DFI. This will help Iraq. This won't push anything out to next year. They still have to pay the Paris Club debt. Nothing has changed. The US was not going to let Iraq become exposed to international creditors. It's that simple.

exactly

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All this does is protect the Iraqi funds from lawsuits, etc while they transition from the DFI. This will help Iraq. This won't push anything out to next year. They still have to pay the Paris Club debt. Nothing has changed. The US was not going to let Iraq become exposed to international creditors. It's that simple.

Thanks Z....that's how i read it to be as well.

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13303 DOES NOT AFFECT THE RV, IT IS A PROTECTION FOR IRAQ THAT'S IT.

AND THIS WAS EXTENDED ON MAY 22, 2011 NOTHING NEW HERE...

13303 is not protection for Iraq. The DFI funds are. P.O 13303 was to allow the US and it citizens to invest in Iraq.

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Would it really be that surprising if nothing were to happen until next year at this time if the US has any control over this thing? After all, the US will be in the throes of a presidential election year. What better way for the sitting President to get a HUGE bump than to have a gigantic influx of our tax dollars to pay off debts and deficits? Of course that same sitting President would have to be willing to allow his country, it's citizens and the citizens of Iraq to flounder for another year, but hey............. Am I being too skeptical here?

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I quote again

"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."

Regardless of the UN the EO protects everything as the statement above says.

I'm sorry, but I do not see this as good new for us for the RV right now. GOD, I hope I'm wrong

This is what I'm saying!!!!

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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.

[/quote

Newbie here: I agree this is a continue protection from the US can rewrite, extend, and end this Protection, if Pres O has not signed it I don't believe it is an EO. We still have yet heard a Press release from the DFI! Until then, wait until they finish GOI, Demarcation of the Erbil-Chap7. Until then I stay and wait as usual until the investment-matures. :)

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Thanks Z....that's how i read it to be as well.

Yep. There's no other way to read it. The funds are in the US Treasury, on American soil and now enjoy continued immunity from parties that want to get their hooks in it. Too bad. They can't touch it. Iraq still has control of the funds. The UN DFI stipulations are over today. Now, we're the ONLY thing between all of Iraq's oil revenues and the rest of the world. Done.

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Would it really be that surprising if nothing were to happen until next year at this time if the US has any control over this thing? After all, the US will be in the throes of a presidential election year. What better way for the sitting President to get a HUGE bump than to have a gigantic influx of our tax dollars to pay off debts and deficits? Of course that same sitting President would have to be willing to allow his country, it's citizens and the citizens of Iraq to flounder for another year, but hey............. Am I being too skeptical here?

Makes sense given the situation but I think Iraq is getting fed up with Obama.

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What we've been waiting for is:

-Release from Chap 7

-HCL Law

-Security ministers seated

-Low denoms released

The DFI as Drox stated is just US protection from creditors and crooked Ma Effers. This is my interpretation....Am I missing something?

From my understanding, economic sanctions were lifted back in Dec 2010 that would have prevented them to R/V. What remains? Border issues, missing artifacts, missing Kuwaitis. They've already got a payment play of 5% setup to repay them.

Security? We all argue that a fully seated GOI is needed. But, I think the security was not so much GOI but more so security in general.

Low Denoms may already be printed, and may be released simultaneously with a R/V. --

HCL Law? Well - I guess I will argue that they've basically been stating they're going to implement the plan to remove the 000s. They've practically stated they're going to do something... How that process works out is uncertain until it happens.

Remember how they've said they had litigation teams at home & abroad?? Hmm -- Wonder if it has to do with the extension of protection by the U.S.?

;)

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From my understanding, economic sanctions were lifted back in Dec 2010 that would have prevented them to R/V. What remains? Border issues, missing artifacts, missing Kuwaitis. They've already got a payment play of 5% setup to repay them.

Security? We all argue that a fully seated GOI is needed. But, I think the security was not so much GOI but more so security in general.

Low Denoms may already be printed, and may be released simultaneously with a R/V. --

HCL Law? Well - I guess I will argue that they've basically been stating they're going to implement the plan to remove the 000s. They've practically stated they're going to do something... How that process works out is uncertain until it happens.

Remember how they've said they had litigation teams at home & abroad?? Hmm -- Wonder if it has to do with the extension of protection by the U.S.?

;)

Thanks Darin. I did read somewhere that said the Kuwaitis were good with what Iraq implemented thus eliminating Kuwait from the picture. First paris club payment is the middle of next month so that's pretty much a done deal. They would have to RV with the release of the low denoms because then folks would have to carry bags of cash to pay for a turbin. Next few weeks will be interesting.

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This is US protection

UN protection ends today... And I don't think it was extended.

Remember, back on May 17th, they basically extended it than..

They were going to review it on the 30ths in case they saw the need to terminate the protection, but after view, decided to keep it on-going.

In my mind, that means they meant to assess how badly creditors would be after them and saw the safe route was to maintain the protection.

Yep, Agreed. RV on the way. smile.gif

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Excuse me, what are us poor people losing to the rich? Without the "rich", there would be no jobs for the poor. Currently we are a nation of unemployed but that is not the "rich" people's fault. They did not grind the economy to a screeching halt - it does not put money in their bank accounts for their businesses to shut down. I'm just an old woman but I have been responsible for my families finances for the last 50+ years and anyone with a brain knows that when you are out of money, you stop spending! AND our constitution does not say that the federal government should take care of everyone from cradle to grave or that our borders should be thrown open to every illegal immigrant that wishes to enter and take advantage of our taxpayer funded, health, education, and welfare. :angry:

Stepping down from my soapbox now - and I apologize if anyone is offended - sometimes you just have to speak your mind (especially at my age!). :bow::hug::blush:

I am sorry but I didn't see the welfare mother pull the stop button to the down jones. Nor did I see any of the uneducated folks rob this country of it's morals. What I am trying to say is that I would hate to see all the folks that are waiting on there social security checks (that worked for them) get an I owe U form the government only for them to make sure the interest is paid on our national debt. Nor do I believe that it was the poor that caused this mess we are in. No matter how one looks at it, the fact is Greed has caused us to fall. And any ideas on how we fix that? And as far as the taxpayer funded health care crap, I think it's said that some people worked 30-40 years for a company then retire only to find out that thier helath care is not worth the paper it is printed on. WOW some 70 year hard working man has to meet a $10,000 deductible in order for his insurance to pay the 20% he needs to have his cancer removed. Forgive me I just maybe PMSing! I don't want to upset anyone I just want a better wolrd for all not just where the rich look down at the back bone workers of the Nation, and assume that they are the only ones who should have the American dream. And please note that I don't want the government to take care of me nor my family. I strongly believe in working for what I want. :unsure::mellow:

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All this does is protect the Iraqi funds from lawsuits, etc while they transition from the DFI. This will help Iraq. This won't push anything out to next year. They still have to pay the Paris Club debt. Nothing has changed. The US was not going to let Iraq become exposed to international creditors. It's that simple.

Your exactly right! EO 13303 is designed to protect the United States interest(s) along with Iraq's and U.S. based companies operating in Iraq. This will not push the RV off, but will only help. It will help by keeping stability in the DFI and multinational investment.

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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!

Hey Drox, you have any documentation on the amounts in the DFI? Ive seen so many different numbers I dont know which ones to believe.....Never thought the DFI would make an impact on whether they could RV or not anyways....and as you are saying, its more like a river of money just flowing through it.....money from oil goes in and comes right out the other end for what the govt needs for rebuilding and things of that nature......

I honestly wouldnt get upset about a RV just because they extended DFI.....until they are standing on their own two feet, and pumping more oil they need all the protection they can get!!!

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You think that you would have a problem with no RV for another year.

How do you think it would affect the citizens of Iraq?

Not too good, I would think.

Un-rest and riots already happening.

Could you imagine the loss of hope for these people?

IMHO, I don't think Iraq would be in any position to revalue if having to wait another year.

Just my thoughts.

Yeah those people have been suffering long enough, and I thought my life sucked

GO RV!!!!

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I am sorry but I didn't see the welfare mother pull the stop button to the down jones. Nor did I see any of the uneducated folks rob this country of it's morals. What I am trying to say is that I would hate to see all the folks that are waiting on there social security checks (that worked for them) get an I owe U form the government only for them to make sure the interest is paid on our national debt. Nor do I believe that it was the poor that caused this mess we are in. No matter how one looks at it, the fact is Greed has caused us to fall. And any ideas on how we fix that? And as far as the taxpayer funded health care crap, I think it's said that some people worked 30-40 years for a company then retire only to find out that thier helath care is not worth the paper it is printed on. WOW some 70 year hard working man has to meet a $10,000 deductible in order for his insurance to pay the 20% he needs to have his cancer removed. Forgive me I just maybe PMSing! I don't want to upset anyone I just want a better wolrd for all not just where the rich look down at the back bone workers of the Nation, and assume that they are the only ones who should have the American dream. And please note that I don't want the government to take care of me nor my family. I strongly believe in working for what I want. :unsure::mellow:

I'll just pretend that your last sentence negates everything before it.

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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!

Yep. Predicted that more than a month ago. They really had no choice but to extend the protection. Iraq is still way too dysfunctional. :(

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Ok, I am new but this doesn't seem that bad....The EO 13303 protects the US's interests in Iraqi Oil. So we just extended our protection plan? How is this a bad thing?

The primary effect of EO 13303 is the legal protection of US oil companies. EO 13303 is part of a broader endeavor by the Bush administration to exert control over Iraqi oil revenues. The plan centers on the Development Fund for Iraq, created by the United Nations and nominally controlled by the United States, with advice from the World Bank and the International Monetary Fund (IMF). The second part of the plan is EO 13303, providing absolute legal protection for US interests in Iraqi oil.

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Folks, this is an investment. Plain and simple. Hopefully it will work in our favor, but there are no guarantee's. I am a firm believer that it will happen.

Just remember that the longer it takes means the more time Iraq has to build up it's monetery reserves, discover new oil fields and improve their all around financial standing which will mean a better return for us when it happens. Forget about dates and rates. Bottom line is NOBODY KNOWS and if they do they are not talking. Those that claim to know are liars flat out. This could happen tomorrow or 5 years from now. It is completely out of our hands so just sit back and trry to relax. Run this investment, do not let this investment run you.

Peace

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