Central Bank of Iraq Press Release

[CYRUS]

Found this on another site while trolling around looking for news. May be this is why it got delayed this time around.

Keep the faith GO RV

Prior to the Iraqi Central Bank’s official speech, the Council of Economic Matters delivered one to the Cabinet in 2007.

In its speech they encouraged the bank to study the restoration project of the Iraqi currency regime by restructuring it through removing three zeros.

That way currency exchange would be facilitated and the cost of monetary transactions would decrease, within the strategic restoration framework of monetary administration in other countries.

Most countries of the world, and especially those which underwent periods of instability and economic collapse, strive to rebuild their monetary system on a strong, cohesive foundation.

However, with extreme regret, the Central Bank was surprised when some government employees, some of whom work in different state centers, launched an unprecedented media attack on the bank, accusing it of unlawful actions corrupting the idea of monetary restoration.

(These attacks) were ignored how deep-rooted a trustworthy, national monetary foundation is to public funds and (1M) for stability and economic growth in our country.

This at a time when the Iraqi Central Bank has enjoyed the respect and trust of financial institutions and central banks the world over since its inception in 1947 until now.

As it happened, the Iraqi Central Bank found its behaviour was not responsible for the regrettable accusations or the misguided motives.

Now it must disprove (the accusations) and establish guides for behavioural conduct for government employees who deal with various national issues, especially sensitive ones.

As such, the Central Bank affirmed this behaviour represents a frank contradiction to the rules of conduct and to employee labour.

This exposes the legal and national roles of the Central Bank to morale dangers before public opinion in its various forms.

The Iraqi Central Bank will reserve its legal right to defend itself.

Those (accusers) carry the responsibility for exposing national monetary interests to a tangible hazard, borne by those not responsible.

[OregonHopeful]

The date on this is 2007

[TFK]

Lots of posturing going on! Lets hope this seeming mask of instability is part of their plan to throw off speculators.

Anything is possible at this point. I still think we're in a favourable position to see this happen soon.

A good example I can think of for believing my comments above is just looking at some of the people we've seen on DV's recently that just can't take it anymore and are moving on. Whether or not they're selling their dinars is questionable, but if you were to believe everything that comes out of the Iraqi press' mouths, you'd surely go crazy.

Hang on tight, turbulence ahead!!

[His4evr2c]

The date on this is 2007:(

Since The Date is 4 years ago I myself do NOT think it is relevant here-grasping at straws is ridiculous in my opinion.

Go RV

[FishMan1969]

Who had no idea it was 2011 already....

Really?

Wow, time flies when you are stuck at a computer reading IQD news, opinions, and Bullshot for 4 years straight, While the desk calendar still reads 2007.

Get out a little and while out, stop by Walmart and get ya a 2011 Calendar. Might as well get a 2012 one while you are there too.

[caughtinthecrossfire]

Just my observation after Cyrus's opening statement. I think he was saying that although this is an OLD article, perhaps it reflects the SAME type of thing CBI is facting with it's current (2011) lawsuit situation? Much like saying it's "posturing we have seen before"...but intending to say that "it's just a temporary stance to back down the opposition"?

Correct me if I'm wrong, Cyrus, but is THAT what you were trying to say?

Take care all, and ty for your posts.

[CYRUS]

Just my observation after Cyrus's opening statement. I think he was saying that although this is an OLD article, perhaps it reflects the SAME type of thing CBI is facting with it's current (2011) lawsuit situation? Much like saying it's "posturing we have seen before"...but intending to say that "it's just a temporary stance to back down the opposition"?

Correct me if I'm wrong, Cyrus, but is THAT what you were trying to say?

Take care all, and ty for your posts.

Yes, that is exactly what I meant. I apologize for not explaining better.

[Butifldrm]

Just goes to show, these shenanigans, were going on 4 years ago. Will they ever grow up?