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CBI Law - Article 2 Thru 4


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Was doing some light reading and came across the CBI Law, and found that the CBI doesn't need anyone's permission to RV. To paraphrase, if CBI feels it is in the best interest of the Financial System it can do whatever it wants.

CBI Law

Good Read

Article 4.2-4 Pages 9 & 10

Article 4.4 Page 10

4. If the CBI proposes to issue a regulation pursuant to this Law, it shall publish a draft of the proposed text of the regulation in a form and in a manner determined by it to be best calculated to bring the proposed regulation to the attention of the domestic financial sector and the general public. The draft shall be accompanied by an explanation of the purpose of the proposed regulation and a request for comments within a specified time of not less than one month after the date of publication of the draft. The CBI shall have regard to any comment received and issue the final text of the regulation accompanied by an account in general terms of the comments. The procedure set out in this paragraph shall not apply if the CBI determines that the delay involved would be a serious threat to the interests of the financial system or hinder the effective conduct of monetary policy, provided that such decision by the CBI shall be explained in the preamble to the regulation.

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hmmmm....but it seems the CBI wants to RD. I do not find that helpful.

Yup, and people won't start realizing that is the path were on at the moment. The pumpers do a good job of confusing RD articles with the good ol' get rich quick idea.

Adam says it perfectly stay informed, engaged, and prepared.

If people can't handle engaging in a RD discussion without throwing your hands in the air and screaming LOPSTER, you might be in for a rude awakening.

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The draft shall be accompanied by an explanation of the purpose of the proposed regulation and a request for comments within a specified time of not less than one month after the date of publication of the draft

I was kinda hoping someone else would see this statement. I kinda read this as when the CBI submitted their intentions to Parliament, Shabbs has to wait 30 days before he pushes the button. th_smiley_two_thumbs_up.gif

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Iraqi Constitution

Article 103:

First: The Central Bank of Iraq, Board of Supreme Audit, Communication and Media Commission, and the Endowment Commissions are financially and administratively independent institutions. A law shall regulate the work of each of these institutions.

Second:The Central Bank of Iraq is responsible before the Council of Representatives.The Board of Supreme Audit and the Communication and Media Commission shall be attached to the Council of Representatives.

Article 110:

The federal government shall have exclusive authorities in the following matters:

Third:Formulating fiscal and customs policy, issuing currency, regulating commercial policy across regional and governorate boundaries in Iraq; drawing up the national budget of the State; formulating monetary policy, and establishing and administering a central bank;

http://www.uniraq.or...onstitution.pdf

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