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Good info on the DFI


MrDarkCloud
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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.

Implications:

While I do not know all the implications of this, it is certain that it is positive for Iraq. It will allow Iraq to emerge from chapter vii sanctions without being immediately hit with foreign lawsuits. Tomorrow is the day that Iraq is supposed to get back its sovereignty after the time was extended from last December.

There are many conflicting reports, so it is difficult to sort out everything without being an active participant in the legal process. These high up officials simply do not explain things to the ordinary people unless they have to. But it is said that Iraq is scheduled to repay its first installment of debt to the Paris Club on July 11, 2011. It is also said that their currency must be revalued in order to make that payment feasible. I do not have enough proof to confirm this, but if it is true, then it would follow that Iraq must revalue its dinar very soon.

It does not appear that this year-long extension of National Emergency will make it impossible for Iraq to revalue its currency. In fact, it appears that the opposite is the case. This Executive Order is designed to protect Iraq’s monetary resources–although it also may benefit the US government, as it will have access to the fund and may be able to use it to prop itself up.

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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.

Implications:

While I do not know all the implications of this, it is certain that it is positive for Iraq. It will allow Iraq to emerge from chapter vii sanctions without being immediately hit with foreign lawsuits. Tomorrow is the day that Iraq is supposed to get back its sovereignty after the time was extended from last December.

There are many conflicting reports, so it is difficult to sort out everything without being an active participant in the legal process. These high up officials simply do not explain things to the ordinary people unless they have to. But it is said that Iraq is scheduled to repay its first installment of debt to the Paris Club on July 11, 2011. It is also said that their currency must be revalued in order to make that payment feasible. I do not have enough proof to confirm this, but if it is true, then it would follow that Iraq must revalue its dinar very soon.

It does not appear that this year-long extension of National Emergency will make it impossible for Iraq to revalue its currency. In fact, it appears that the opposite is the case. This Executive Order is designed to protect Iraq’s monetary resources–although it also may benefit the US government, as it will have access to the fund and may be able to use it to prop itself up.

Who said this??

It is also said that their currency must be revalued in order to make that payment feasible

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