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All good questions and I think we have seen evidence of the preparation for this "novel event" by the US government in the recent past.
If you will remember as of last year we saw this comment about the US Fed pumping massive liquidity into the US banks:
"The Fed is already printing trillions of U.S. dollars and pumping them into the global economy in an effort to stave off a financial collapse. Now it plans to start injecting foreign currency, too, according to minutes recently released from its March meeting."
Now when this began and the massive amount of liquidity placed into the system raised many an eyebrow....and left many economist wondering what the heck the Fed was thinking.
Now on its face value it does seem like an odd move to place massive liquidity in the form of newly printed currency into a near failing and stagnant economic system.
BUT if we take into account what may very well soon occur with the revaluation of the Iraqi Dinar and OTHER currencies and also keep in mind the massive coordinated currency sways of the last 18 months then this mysterious behavior by the FED begins to make sense if the revaluation and the resulting immediate demand for the US dollar via the deposit and exchange of the Iraqi Dinar.
So just as the revaluation will act as a massive stimulus plan for the Iraqi people so will it for the investors of the US and other nations.
The way this looks to me...
is that we have a classic win win situation brewing.
IMHO
From March 17, 2009
U.S. Injecting Billions Into Foreign Central Banks
For more than a year, the U.S. Federal Reserve System has been increasingly acting as the world's central bank, injecting hundreds of billions of dollars into foreign government treasuries in an effort to increase liquidity in those countries.
The foreign central banks have used the U.S. currency to bail out financial institutions within their borders. The Fed program links its balance sheet directly to the fates of foreign central banks at a time when they're on the ropes.
The program has so far gone unreported in the mainstream media and is a major expansion of Federal Reserve involvement in the global economy. It represents a stark break from the prior role of the Fed, moving it into territory more traditionally occupied by the International Monetary Fund (IMF).
The program puts both the Fed and the foreign central banks at increased risk. If the bailed-out banks can't repay the loans, the foreign central bank is still on the hook to the Fed. It would have to raise the money by selling debt -- which most Europeans are finding difficult today -- or raise taxes or cut spending, actions that further exacerbate the economic crisis. Or, the foreign central bank could default, leaving the U.S. holding a bag of foreign currency of plummeting value.
The U.S. taxpayer has also bailed out foreign banks indirectly by pumping billions into American Insurance Group, which announced Sunday that it had forwarded that cash to counterparties that include foreign banks such as Societe Generale, Deutsche Bank, Calyon, Credit Suisse, the Royal Bank of Scotland and Barclays.
"I'm concerned about Europe," Paul Krugman wrote in Monday's New York Times. "Actually, I'm concerned about the whole world -- there are no safe havens from the global economic storm. But the situation in Europe worries me even more than the situation in America."
Meanwhile, European countries are still unable to sell joint bonds.
The Fed program adds up to serious money. The most recent balance sheet released by the Fed shows that $314 billion U.S. dollars are currently doled out to foreign central banks under the foreign exchange program. That's down from a December peak of nearly $600 billion, as central banks have repaid some of the loans.
In exchange for U.S. dollars, the Fed has received foreign currency of equivalent value in an exchange known as a swap. To protect the Fed from losses due to currency fluctuation, the deals include a provision that when the moneys are swapped back, the transaction will be done at the same exchange rate as the initial transaction. (hmm.. not sure about that)
The swaps are listed by the Fed on its balance sheet as "central bank liquidity swaps." The only reference to such swaps in Nexis or Google News comes in the trade paper Market News International, which publishes periodic summaries of fluctuations in the Fed balance sheet. The Fed hasn't hid the exchanges and even sports an FAQ about the transactions on its Web site.
The Fed has established relationships with some major banks, such as the European Central Bank and the Bank of Japan, but also with central banks overseeing smaller, more volatile economies, such as the Banco Central do Brasil.
"It is important which countries are getting it and which don't," said Ralph Bryant, a currency exchange expert at the Brookings Institution. During the 1970s, he was director of the Fed's Division of International Finance and lead international economist for the Federal Open Market Committee, which has authorized the swaps.
"What happened last fall, when the credit markets seized up so badly, was really a departure because some additional countries that would not have been in the Federal Reserve swap network in earlier years at all were brought in, like the central bank of Brazil, Bank of Mexico, and some smaller ones like the bank in New Zealand, the Norwegian central bank and so on."
The full list of participating banks, according to the Fed, includes the Reserve Bank of Australia, Bank of Canada, Danmarks Nationalbank, Bank of England, Bank of Korea, Banco de Mexico, Reserve Bank of New Zealand, Norges Bank, Monetary Authority of Singapore, Sveriges Riksbank, and Swiss National Bank.
The program was launched in December 2007 and initially engaged in relatively small swaps with the European Central Bank and the Swiss National Bank.
On September 15, 2008, Lehman Brothers filed for bankruptcy, sending a shock through the global financial sector and freezing credit markets.
While the media focused on the U.S. government's domestic response -- a $700 billion bank bailout -- it missed the global response. Between Sept. 15 and October 1, the U.S. nearly quadrupled its swaps with foreign central banks, increasing the amount to $233 billion.
Two weeks later, the total was $398 billion and a week after that it was $480 billion. Two months after the Lehman bankruptcy, the Fed had swapped $572 billion.
In 1994, the U.S. provided Mexico with $20 billion in loans and guarantees to stabilize its financial sector. Congress refused to authorize the money and President Clinton instead used the Exchange Stabilization Fund, at the time a controversial decision. Today's swap is nearly 30 times larger.
A Democratic congressional aide who asked Fed officials about the swaps says he was told they are "essentially riskless" to the U.S. taxpayer -- unless, of course, a central bank defaults, at which point the value of the currency held as collateral would be called into serious question.
"The only conceivable risk is if you think some foreign central bank was going to go bust and not honor its commitment, but given this is only for larger countries, that's a very small probability," said Bryant.
As with every other bailout, the swaps are justified by citing the cost of doing nothing. "If the rest of the world goes down the tubes, that's really bad for the US financial system and the US economy," Bryant said.
The IMF has been relatively inactive during the financial crisis, a vacuum the Fed has filled. IMF lending comes with a certain international stigma and central banks are generally happier to arrange transactions with the Fed. Moreover, since the Asian financial crisis in the late 1990s, the IMF has lacked the capital reserves to engage in currency swaps at the same magnitude as the Fed.
Despite the lack of public scrutiny, the Fed's decisions are at root political. "There is an issue as to which countries they decided to do this for and which ones they didn't. That is a political decision," said Dean Baker, an economist with the liberal-leaning Center for Economic and Policy Research. "The fact that they help certain countries hurts the ones they don't help, since they get viewed as less safe. "Read more at:
http://articlesofinterest-kelley.blogspot.com/2009/10/deserves-repost-us-injecting-billions.html
Also ..... CURRENCY SWAPS 2008-2009-2010 LINKS ~
http://articlesofinterest-kelley.blogspot.com/2009/11/currency-swaps-2008-2009-links.html
Hope that helps.
Go DINAR!~
IQD in @ .0009 HOLD!
That is correct but please know that was just a copy and paste by me from somewhere else.
I have not ever had conversation with the person named Ali and that was a quote from someone else.
fwiw.
Go DINAR!~
IQD in @ .0009 HOLD!~
Thanks. eom
Banned by IHAdmin for personal attacks. eom
The Iraqi "over night " millionaire question.
As stated before below....this will not be an issue because the average Iraqi lives in abject poverty and holds little to no dinar for all the reasons stated before.
This poverty is so bad it is forcing Iraqis to sell organs to survive and the live organ trade business is growing in Iraq sad to say.
But yes there will be a massive wealth injection over night for many Iraqis.
Also not only is this great wealth injection possible but it is sorely needed.
You see this will act as a massive stimulus package to the Iraqi populus and this instant liquidity will be sorely needed to stimulate growth within Iraq.
The nation of Iraq is about to be the wealthiest nation on earth and the Iraqi public are 20 years behind in economic parity and are product starved.
When this thing happens the voracious appetite of the Iraqi's for consumer products will be stunning...computers, laptops,cell phones, automobiles, big flat screen TVs, housing, food, clothing and yes...BLING to top it off.
We will witness a surging economy with strong consumers.
So this transfer and injection of wealth to the Iraqi public will in itself bolster and strengthen all of Iraq and much of this new found wealth will return to the government of Iraq in the form of taxes.
So everyone wins.
A strong consumer = a strong economy = a strong nation.
Hope that helps.
Go DINAR!~
IQD in @ .0009 HOLD!
That is 100% correct and there are also reported to be Fils that have been minted and are ready also.
Not sure what the denominations are but the fil coins would "fill" that need.
1/4 dinar coin 1/10th dinar coin etc.
Did Clinton "ditch" the press?
Looks like this may have been a set up so Hillary Clinton could "ditch" the press and get into Baghdad on the sly.
Many do not know but before Bush left office he signed an Executive order that gives the Secretary of State (then Rice) full authority and power to sign for and speak for the president of the United States in proxy. Now Executive Orders carry over to the next administration unless they are removed by a new Executive order.
Now Obama DID remove a few of Bush's EOs but he did NOT remove that one.
So few people know this but as of right now Hillary Clinton has the full legal authority to speak for and to sign documents for the President of the United States.
Anyway....this is from yesterday:
February 16, 2010 1:09 PM
Sec. Clinton hitches ride with Gen. Petraeus after plane breaks down in Saudi Arabia
(AFP) - A mechanical problem on her U.S. Air Force plane forced Secretary of State Hillary Clinton to postpone her departure from Saudi Arabia Tuesday and opt for another flight back to Washington.
Happily, US General David Petraeus was in the region and is stopping by to pick her up. Petraeus, the US military commander for the Middle East and Central Asia, was in Riyadh for talks with Saudi leaders, while Clinton was holding her own meetings in Jeddah about Iran, the Arab-Israeli peace process and other issues.
Staff said Clinton is only able to take along a few top aides with her as well as diplomatic security officers, while the rest of her staff and news reporters make separate arrangements to fly back to the US capital.
AFP
http://articlesofinterest-kelley.blogspot.com/2010/02/sec-clinton-hitches-ride-with-gen.html
Hillary Clinton in Baghdad?
February 11, 2010
Weights Clinton visit Baghdad next week
????? - ?????? BAGHDAD - morning
Knowledgeable sources said that the U.S. Secretary of State Hillary Clinton's visit to Baghdad at the end of next week. The sources said in a statement to the "morning" is scheduled to visit the Gulf region, Clinton middle of next week
He noted that U.S. Secretary of State Starj during her trip to Baghdad. It is said that U.S. Secretary of State has visited Baghdad twice last year, I looked through them with the President and the Prime Minister and Chairman of the House of Representatives several important issues, and agreed to speed for activating the strategic framework.
The sources confirmed that Secretary Clinton will discuss the elections in Baghdad, file and will emphasize Washington's support for the political process without interfering in the internal affairs of the country.
As part of the connected, met with Deputy Foreign Minister, Iraq's, Robert Ford, a political ambassador the U.S. Embassy in Baghdad.
During the meeting, according to a statement received "morning" a copy of it, discuss ways to develop relations between the two countries in light of the strategic framework agreement and to assist states and ...
Washington in the search for Iraqi antiquities, in addition to addressing the United States to support Iraq in its quest to emerge from Chapter VII.
related article ~
Clinton, Maliki form Chapter VII committee
http://articlesofinterest-kelley.blogspot.com/2010/02/us-secretary-of-state-hillary-clintons.html
U.S. troops in Iraq reach lowest level
February 17. 2010
Reduction signals deadline to leave country is on track
Baghdad -- The number of American soldiers in Iraq has dropped below 100,000 for the first time since the 2003 U.S.-led invasion in a clear signal the U.S. is wrapping up its nearly seven-year war to meet a deadline for leaving the country, the U.S. military said Tuesday.
The troop reduction comes at a critical time in Iraq as Washington questions the shaky democracy's ability to maintain security in the tense period surrounding March 7 parliamentary elections. Those concerns have only grown with a decision by a vetting committee to bar hundreds of candidates from running because of suspected ties to Saddam Hussein's outlawed Baath Party.
The U.S. military plans on maintaining its current 98,000 boots on the ground in Iraq through the elections, 1st Lt. Elizabeth Feste, an army spokeswoman in Baghdad, told the Associated Press.
That's in line with what Gen. Ray Odierno, the top U.S. commander in Iraq, has said would remain in place until at least 60 days after the election -- a period during which he believes Iraq's new government will be at its most vulnerable.
International observers fear that tension between the Shiite-dominated government and minority Sunnis may spill into the streets, re-igniting sectarian violence that could threaten the planned U.S. withdrawal.
President Barack Obama has ordered all but 50,000 troops to leave Iraq by Aug. 31, with the remainder pulling out by the end of next year under an Iraqi-American security agreement.
"The withdrawal pace remains on target for about 50,000 at the end of August 2010," Feste said.
Iraqi Prime Minister Nouri al-Maliki is running for re-election on a campaign promise to make Iraq independent from U.S. military help.
http://www.detnews.com/article/20100217/NATION/2170359/1020/rss09#ixzz0flqYRuh1
The first printing of the Iraqi Dinar was a total of 9 trillion Dinar.
Of that total only 4.5 trillion was ever put intoo circulation.
There were 14 denominations printed at that time.
When the New Iraqi Dinar was first issued to the public of those 14 denominations only 9 were ever presented.
The remaining "missing " denominations are the lower denoms and have been in protective storage from the start.
Those lower denominations are reported to be the 25 dinar the 10 dinar the 5 dinar the one dinar and the 1/2 dinar.
Hope that helps.
Hey Dinar Dog!
Well we devalued the Iraq Dinar over night and wiped out the wealth of most Iraqis with one swipe.
So yes!~ I can see returning it in the same way!
Also...most Iraqis are near destitute and on the whole the average Iraqi holds few dinars.
After years of war after the devaluation most Iraqis are in poverty.
They have drained much of the Iraqi Dinar from the economy of Iraq and most Iraqi's live on the ration card which provides cooking fuel and food.
Most Iraqis that do have jobs sometimes wait months to be paid and it is not uncommon to see articles where Police and security personal have not been paid for 3-4 months.
So this will not be much of a problem.
Also...in that area of the world this type of wealth in the public hands is not that uncommon.
Just look at Kuwait. In Kuwait every adult in the nation gets $80,000 per year....along with free college free health care....and many other things.
So I see no problem with this and after 20 years of sanctions I think they deserve what wealth they will receive.
IMHO
Go DINAR!~
How about $3.20?
Or $1.13?
Now I did not say this!
This official study done by the Iraqi Ministry of Planning says the official exchange rate for the Iraqi Dinar is $3.20 but calls for the use of a lower rate as per this study and that lower rate is $1.13
You will see that this rate came from the Iraqi Ministry of Planning!
This came right from the Government of Iraq and this most recent study presented here was from October 2009 and is the second one I have seen presented in 3 years.
The Exchange Rate of Foreign Currency in Economic Feasibility Studies Below are the central controls related to the exchange rate of the foreign currency to convert the project inputs and outputs from foreign currency to its equivalent in the local currency, and that is by calculating the net discounted present value standard and the internal return on investments in economic analysis that governs investment projects that costs excess one million dinars.
=================================================================
Ministry of Planning government of Iraq
Estimate the shadow price of foreign currency:
1.It is necessary to put central controls to amend the official exchange rate * to reflect the shadow price of the foreign currency, and that is considered one of the necessary requirements to implement the net discounted present value standard and the internal return rate on investment in the economic calculation stated in the instructions, paragraph nine.
The central controls for adjusting market prices distinguished a group of outputs and inputs traded internationally, where the projects production or usage of them is reflected on the abundance of foreign currency in the economy and thus project outputs or inputs used of such are considered purely foreign currency outputs or inputs.
* What is meant by exchange rate: the number of units of foreign currency, expressed in dollar per one dinar.
In particular the following outputs and inputs of foreign currency were distinguished:
·Export-outputs.
·Outputs marketed locally that substitute imports.
·Imported inputs.
·Inputs produced locally that usually go to exports.
·Foreign labor.
According to the pricing rules the value of the output and input (traded) is calculated using export prices (FOB) and import prices (CIF), according to what is listed in the pricing rules.
In other words the pricing rules calculate what the project produces from foreign currency (quantity of exports multiplied by the export price (FOB) in foreign currency or the quantity of substitute imports multiplied by the import price (CIF) in foreign currency, as well as what the project uses from foreign currency and imported inputs multiplied by the import price (CIF) in foreign currency …. etc.).
In a later step, project outputs and inputs must be converted from the foreign currency to its equivalent in local currency (dinars) by using a specific exchange rate for the foreign currency.
2.Justifications for exchange-rate adjustment: there are a number of important and powerful arguments which support the view that the official exchange rate reduces the real value of foreign currency for purposes of calculating the economic national profitability for investment projects and hence for the purposes of investment planning. It is demonstrated in this context to call for assessing the dinar for less than (3.208) dollar (official exchange rate) when assessing project outputs and inputs of traded goods of exports, substitute imports and imports… etc.
The justifications to call for the use of an exchange rate that is lower than the official exchange rate are:
·The use of an exchange rate that is lower than the official rate is the appropriate action at the investment planning level to translate the country’s economic strategy aiming at stimulating central investments in the sectors that encourage the development of non-oil exports, as well as sectors that encourage the expansion of domestic production base in order to reduce imports and compensate it with local commodities. This helps to reduce reliance on foreign exchange earnings from crude oil exports and increases the share of non-oil sectors in the local production.
·The application of the amended exchange rate on project imported inputs will assist in directing investments away from aggregated sectors dependent on imported inputs and the preference of those sectors that rely on locally produced inputs.
·The use of the amended exchange rate helps to correct the balance in favor of the traded goods sectors compared to non-traded goods.
·The real exchange rate has declined rapidly since the early seventies, through rapid rise of the level of prices and local costs which led by the steadiness of the official exchange rate to change in prices and actual local rate costs that gave an advantage for imported goods at the expense of locally produced goods, meaning that it led to deterioration of the competitiveness of alternative replacement goods and export commodities.
·This action shows that the official exchange rate overestimates the value of the dinar, compared to the foreign currency and from the promoting goods substituting imports and export commodities point of view of.
And in support to this view is the state’s utilization and in a broad approach to the customs and quantitative protection policies especially for consumer goods, as well as export subsidies that exports have through an amended export exchange rate.
3.Estimate the amended exchange rate of the Iraqi dinar to be used in technical and economical feasibility studies and for (1.134) dollar per dinar. This price should be approved for 3 years until re-appreciation by the competent authorities.
http://www.mop-iraq.org/mopdc/index.jsp?sid=1&id=308&pid=295
Go DINAR!~
IQD in @ .0009 HOLD!~
~ February 17th ~ Iraq & the UN:
Past, Present and Future ...
1:15 pm: TNL Building, CR-7 Roundtable Discussion: on "Iraq and the UN: Past, Present and Future", with H.E. Dr. T. Hamid Al-Bayati, Permanent Representative of Iraq to the United Nations; moderated by Jean-Marc Coicaud, Director of the UNU-ONY (organized by UNU as part of their Midday Forum series)
(INTERNATIONAL MEDIA)
3:15 pm: TNL Building, Room NL-03000 Photo Opportunity:
The Secretary-General with Mr. Ad Melkert, Special Representative of the Secretary-General for Iraq.
17 February, 2010
Iraq & the UN: Past, Present and Future
After Saddam's invasion of Kuwait in 1990, the Security Council considered Iraq a threat to peace and security and imposed sanctions on and under chapter seven issued 73 resolutions against Iraq. Saddam did not comply with these resolutions and continued to challenge the UN and international laws.
Following the fall of Saddam's regime in 2003 Iraq has started to cooperate with the UN. The UN, in turn, has helped Iraq to have a permanent constitution and several elections. Iraq today is different than Iraq prior to 2003, as the Secretary General stated in his report to the Security Council in June 2009. The future of Iraq's relations with the UN will be based on mutual respect, understanding and cooperation.
The event is part of the UNU Midday Forum Programme, which offers an intimate and informal platform for discussion the UN Permanent Missions, the UN Secretariat, UN agencies, academia, NGOs and the private sector, to discuss and exchange ideas and experiences on important topics related to the UN.
Date: Wednesday, February 17, 2010
Time: 1:15 p.m. to 2:45 p.m. EST (New York Time)
Venue: Conference Room 7, Temporary North Lawn Building, UN Headquarters
Further Information and Background Readings
UNU. Background Readings on IRAQ.pdf
alBayati-pledge to HRight council 06.pdf
alBayati-speechfor Women Comitee.pdf
Interviw with Al bayati - center for global affairs.pdf
Report to Secretary-General UNAMI (UN Assistance Mission for Iraq).pdf
Un role in IRAQ - Global Policy Forum.pdf
UN.NEWS - iraq.pdf
http://articlesofinterest-kelley.blogspot.com/2010/02/iraq-un-past-present-and-future.html
UN News on Iraq
So far as expected and as explained in my post below no news on Chapter 7.
Chapter 7 was covered in the meetings but so far no official statements are being made public by the UN.
As expected by me any news on the restructuring of Chapter 7 for the removal or modification or the complete removal of Chapter 7 may very well be under press embargo at this time and will be made public at a later time or date for the protection of the world markets from "knee jerk" reaction.
News so far:
Violent foes of Iraqi stability cannot reverse progress under way – UN envoy
16 February 2010 – While there are still forces in Iraq trying to disrupt reconstruction with deadly violence, they cannot reverse the progress already taking place, with national elections slated for 7 March, but greater international engagement is needed, the top United Nations envoy in the country said today.
Iraq “has made considerable progress but still faces tremendous challenges,” Secretary-General Ban Ki-moon’s Special Representative Ad Melkert told journalists after briefing the Security Council on Mr. Ban’s latest report on the situation in Iraq.
“Generally speaking, I should say that the elections are on track in terms of their technical preparation. Still, a lot needs to be done. Security remains a big challenge to all, to the Iraqis in the first place, but also to the international community.”
In his address to the Council, Mr. Melkert said that despite the forces seeking “to interfere violently in the reconstruction and reconciliation” process, the overwhelming majority of the Iraqi people wants it to succeed. “Whilst regrettably these forces continue to kill and target innocent pilgrims, public servants, police officers and election candidates, they cannot reverse the progress that is taking place in Iraq,” he added.
“The determination of Iraqis to resist the return of the perils of the past is real and strong, stronger than the heinous forces behind the attacks. However, more international attention and engagement is needed for allowing the people of Iraq to determine their future in their own way.”
In a press statement read out by Ambassador Gérard Araud of France, which holds the Council’s rotating presidency for February, the 15-member body called for the elections to be “free, fair, transparent, legitimate and inclusive with broad participation in order for the results to reflect the will of the Iraqi people and be accepted by them.”
Mr. Melkert cautioned against “persistent scepticism and impatience” in discussing Iraq, noting that while there are “imperfections, gaps and contradictions,” that is not the heart of the matter given the decades of conflicts and crimes that have gravely affected the country.
“The crux is now to see whether there is a genuine effort under way to reconstruct and innovate,” he said. “This is what in many different ways is happening and deserves to be seen and properly understood, unprecedented as it is on the axe of a long and distinguished history.”
Citing the lack of transparency in the disqualification of hundreds of candidates on grounds of their links to the ousted Baathist regime of Saddam Hussein, he said reasons for concern remained but the impact should be assessed in the context of the electoral process as a whole. “We have strongly advised on a transparent and consistent process,” he told reporters afterwards.
He also called for full transparency and combating corruption in revitalizing the oil industry, the country’s main source of revenue, as a major issue for improving investors' confidence.
Turning to the support that the UN Assistance Mission in Iraq (UNAMI) is providing for the elections, Mr. Melkert cited the “huge collective effort” that has put in place the infrastructure to allow some 18.9 million Iraqi voters to visit 48,000 polling stations on election day and noted that security “is of vital consideration” both for the integrity of the polls and voter confidence.
Highlighting the “pivotal role” that observation of the electoral process plays in ensuring credibility, he stressed the active UN role in funding the training of more than 29,000 domestic observers, while international observers are being coordinated by the European Union (EU).
Although UNAMI will not observe the elections due to its role of supporting the Independent High Electoral Commission (IHEC), it will undertake its own poll-watching activities, sending teams to different locations in the country as a confidence-building initiative.
“Acceptance of results is of paramount importance, and will be the litmus test for the success or failure of the process,” he said. “UNAMI is supporting IHEC in developing a robust and timely complaints mechanism to ensure the credibility of the results is not eroded by a delay in adjudication of complaints.”
Also of paramount importance for the near future is cementing long-term stability between the federal State and the Kurdish region, which have been divided on issues of borders and economic development.
Once a new government starts its work in the course of the year, the UN can look to transforming its support from primarily humanitarian tasks into a more development and policy reform-oriented advisory role, Mr. Melkert said.
These include four key areas: post-election activities including census and civil registration; broader engagement on disputed internal boundaries; reform of the public distribution system and the development of social safety nets; and water resources management and relevant issues of trans-border cooperation.
http://www.un.org/apps/news/story.asp?NewsID=33782&Cr=iraq&Cr1=
Go DINAR!~
IQD in @ .0009 HOLD!~
You are not being a downer but what you just said is incorrect.
I did not say the RV would happen today.
What I said was the following.
I have always thought that the RV and the removal of chapter 7 sanctions would happen at or NEAR the same time or few hours before or a few hours after.
Also what I said I was expecting today was the possible removal of Chapter 7 sanctions OR the modification of those sanctions which would remove all economic restrictions from the nation of Iraq leaving only wording that involved the nation of Kuwait and Iraq and there by freeing Iraq from any and all economic sanctions and thusly allowing for the international acceptance of the Iraqi Dinar and the nation of Iraq.
Now we would never expect to see the announcment of any major economic changes such as the restructuring or lifting of the economic sanctions on Iraq while the markets are open and if and when we do see any major announcement from the UN on this subject it may be very late tonght, tomorrow or even after the close of all world markets on Friday.
So any frustration you may feel that you "think" may be because of something you "think" I said.....I then suggest to you that a closer reading of what I have written is in order and you will find that your frustration has been self induced and is the result of quickly glancing over what has been written by me as opposed to the careful reading one should do.
Also do not put words in my mouth again please.
Hope that helps.
So far so good...and things are lookIng GREAT!~
Go DINAR!~
IQD in @ .0009
Sure could be Rick, could be the play of a life time.
I am just sticking to our DD and will hold to the end.
And I think that the end of this play may be very close and may be fantastic for all of us.
Based upon the facts and current events...I am expecting the best.
IMHO
IMHO and after all of my DD and the collective DD of others I think this investment will be a great success.
My guess is that we will see 1 IQD somewhere in the range of 1 USD and maybe in the short term.
My guess on the rate is in the range of .80 to $1.20 or so but we will just have to see.
So I think the 2,000,000 IQD you hold cound be worth in the future any where from $1,600,000 to $2,400,000.
IMHO
GO DINAR!~
IQD in @ .0009 HOLD!~
Links ~ Iraq the UN and Chapter 7
Articles dating back to October 2009 through December 2009
http://articlesofinterest-kelley.blogspot.com/2009/12/links-iraqs-development-fund-and-un-and.html
MEDIA ALERT FOR TUESDAY, 16 FEBRUARY 2010
10:00 am SCC Security Council Meeting:
The situation in Iraq
Report of the Secretary-General pursuant to paragraph 6 of resolution 1883 (2009) (S/2010/76)
Following the above event SCCR Security Council Consultations:
-The situation in Iraq
-Other matters
_____________________
11:00 am Dag. Ham. Auditorium Press Conference:
Mr. Robert Mahoney, Deputy Director of Committee to Protect Journalists (CPJ); Mr. Bob Dietz, Asia Programme Coordinator, CPJ; and Mr. Maziar Bahari, Newsweek Correspondent, to release the CPJ annual report. [The press conference is sponsored by the United Nations Educational, Scientific and Cultural Organization (UNESCO)]
(UN PHOTO,UN TV,INTERNATIONAL MEDIA,WEBCAST)
12:00 nn Dag. Ham. Auditorium Noon Briefing:
by the Spokesman for the Secretary-General
Guest: ** Mr. Ad Melkert, Special Representative of the Secretary-General for Iraq.
The press conference will be webcast live at
http://www.un.org/webcast; archived at http://www.un.org/webcast/pressbriefing.html
Related Link: http://www.un.org/News/ossg/conf.htm
(UN PHOTO,UN TV,INTERNATIONAL MEDIA,WEBCAST)
3:00 pm
TNL Building, CR-C Panel Discussion: on the occasion of the launch of the "Report on World Social Situation 2010: Rethinking Poverty", published by the Department of Economic and Social Affairs (DESA) (organized by the United Nations University Office in New York (UNU-ONY)
*** The event features Dr. Jomo Kwame Sundaram, United Nations Assistant Secretary-General for Economic Development in the UN Department of Economic and Social Affairs (DESA). The Q&A session following the presentation will be moderated by UNU's Director Dr. Jean-Marc Coicaud.
Related Link: http://www.ony.unu.edu/events-forums/new/MDForums/2010/rethinking-poverty-book-launch.php
Links ~ Iraq and the UN and Chapter 7
http://articlesofinterest-kelley.blogspot.com/2010/02/iraq-tuesday-feb-16th-1000-am-scc.html
February 15, 2010
Economic: Foreign exchange reserves at the central bank .. conflict development or stability?
Abdul Hussein Al-Anbuge (Foreign exchange reserves)
Foreign exchange reserves (Foreign exchange reserves) is literally deposits and bonds in foreign currency only maintained by the central banks and monetary authorities.
(Special Drawing Rights) ?????? ????? ??????. However, include the term in the common use of foreign exchange and gold reserves and the positions of the SDR (Special Drawing Rights) and the International Monetary Fund.
A more widespread use, preferably described as the official international reserves or international reserves.
And keeps the assets of the Central Bank reserves in various currencies, mainly from the U.S. dollar, including the euro and the pound sterling and the Japanese yen, and is used in the fulfillment of debts such as the local currency of which the holder is really the body that issued it and the various reserve banks deposits with the Central Bank by the government or financial institutions.
The official international reserves, is a means of international payments official, was previously only of gold and sometimes silver.
But in the framework of the Bretton Woods system, adopted the U.S. dollar as reserve currency, and also become part of the official international reserve assets of the States.
The year 1944-1968 was U.S. dollar convertible into gold by the Federal Reserve System, but after 1968, unique to central banks the possibility of the dollar's convertibility into gold of the official gold reserves, and after 1973 did not enable any individual or institution of the dollar's convertibility into gold of official reserves of gold.
Since 1973, it is no longer possible to convert any of the other major currencies into gold from the official reserves of gold.
Must be on individuals and institutions are now buying gold in private markets, like other commodities.
Even if the U.S. dollar and other currencies are no longer convertible into gold from the official reserves of gold, it is still working in official international reserves.
At a time when we all appreciate and respect the makers of monetary policy in the Iraqi Central Bank and realize their potential scientific, but the conflict economic schools not complain on one of the debates would not prevent the serious scientific department five years ago the Central Bank and the Economic Advisory for prime minister because it will deepen the knowledge of the result and expand economic decision which is the best Murad everyone, and can be viewed from the perspective of dialectical monetary stability, which may one day lead to economic development, missing since 30 years ago and posed by the tight monetary policy (deflationary) and economic illustrious patron Dr Ahmed Salih, adviser to the appearance of the central bank , and controversial broad economic development in every sense in the short term and medium term (broken for monetary imbalances and welcome) in order to break the cycles of underdevelopment and poverty and move the economy towards a wider spaces in terms of performance in the side of the real and the creation of entry and delivery of services and the restoration and reconstruction of damaged infrastructure (development) to lead by extension, to the stability of the monetary side, in the sense that monetary policy is to have a permissive (invasive) and the patron author of these lines.
As for management of the Iraqi Central Bank to its foreign exchange reserves could not have provided them a lot of the observations and reservations, including:
First: The indicators that are declared by the Central Bank, to reflect the proper management of foreign exchange reserves (given only on the assumption) that the monetary policy on (exclusively) to preserve the Iraqi dinar exchange rate (and on) with the support of the other macro economic policies in a country with a broad developmental gap, Under this assumption the monetary policy has worked successfully in Ahtiatitha investment of the assets of high liquidity and low risk and has achieved a return may seem relatively (accounted for more than economic) in the framework of (fiscal tightening), which is close to classical thought, which is that (money futile Delta), thereby The seizure of the performance of its funding is the cause of accumulated.
And a reason to rein in inflation derived from the monetary reasons they believe is contrary to reality.
Third: The foreign exchange reserves is an important indicator of a country's ability to repay foreign debt and maintain a high exchange rate of the coin, and I might give the impression (we do not need him) to external creditors and claimants of that our economic situation is fine with evidence that the absorptive capacity (our economy) saturated with the financial injection and became the central bank accumulates foreign reserves which is (are) in a country ruined structures and needs more than (400) billion dollars for reconstruction, and the second exchange rate is also overstated (the larger) as it is subject to a strict regime by hard-line (UAE Time) and not through a flexible exchange rate consistent with the constitutional and ideological desire for the new system in the restoration work of the market mechanism and remove the distortions and interventions in the work (the prices), then why not keep the bank on the exchange rate ($ 1 = 1500 dinars) in 2004 as it continued each year criticized the Ministry of Finance is less dinars per dollar, so arrived at (1 $ = 1170 dinars) in 2009 to mean that it gives (the ability of less government spending, the amount of dinar and see you more than the dollar as a reserve), and the small number of central banks in the world still believes that the foreign currency has accumulated (index) the Great to show the strength of its local currency, and this (simplified) is unjustified, as part of the adoption by many other factors (domestic demand, production and productivity, imports and exports, relative prices of goods and services, employment levels ... etc) , in shaping the strength of the economy and its currency exchange rate accordingly.
Fourth: The central bank called in his messages as one of its reserves (foreign currency) rather than (dollar) and Ayad him to diversify reserves led to an innovative profit-taking, the task of being a Att (foregone conclusion), because there is a price to keep (a huge reserve), which is the price multi-faceted, including exposure to fluctuations in exchange rates in the markets, which are reflected in the gains or losses, may not be true (if the reserve was originally diverse) because the decline in the amount of the loss of some currencies appear in the gain rise in other currencies, unless the Iraqi Central Bank to make the reserve Cash (dollarised exclusively) a dispute regarding the fight against Mayalnh (dollarization), and the result may be Mkaspp is to maintain the purchasing power of reserves, the decline of the dollar exchange rate lately, but Ayad it (an additional net profit), so central bank is already successful and brilliant to predict trends in market exchange rates, this means that he had exercised function (master currency speculator), a function fought strongly (tough) when exercised by the people and that it will ease the financial sneak out to the speculative activities without the meaningful activities and sought to identify firmly margins profit from the sale and purchase of currencies and shutting down thousands of shops, which was the door of livelihood of those within the narrow margins in employment opportunities, the factors to be added to the high rates of unemployment contributed to the tightening of monetary policy significantly, however, are still to Analm if (profit) is achieved able to maintain the purchasing power of reserves or is it less than that in light of inflation rates did not decline significantly despite the financial crisis.
And back they paid Kalthassan real reasons of security and the global decline in aggregate demand (deflationary pressures) caused by the crisis and not the result of monetary policy.
Fifth: We agree with the Central Bank in the fact that (the lack of foreign currency reserves) and one of the so-called risk-risk countries (COUNTRY RISK) - and support to avoid risks, too - as stated in the article by Dr. Ahmad Saleh appearance in the newspaper of the Union, but this danger does not exist in Iraq, compared to a country such as Egypt reached its reserve of foreign exchange (34) billion U.S. dollars, while the total volume of foreign debt owed by (31.5) billion dollars, because the reserves in Iraq over the last six years has not decreased but also proves continues to increase, reaching more than (52) billion dollars currently being built and this Ghali, the central bank to avert the risk (is not there already), did not contribute to the security and the security of a remote relative to avoid other risks that can be summarized in the survival of the country under pain of defaults and declining operating and production, incomes and the growing gap between the foreign exports - imports (MX) and reflections on the gap between domestic savings - investment (SI) to increase of the phenomenon of economic rent (Dutch disease specificity of Iraq) and increasing leakage from the income cycle, and not central bank can provide a document indicating the size ( Alfrsip cost) resulting from the accumulation of reserve selection (semi-frozen) for the potential benefits for development, if the economic availability (ease financial) and contented himself by comparing Mojtzep for the failure of public expenditure (investment part of it especially which is limited) to move the economy in the real sectors may be right in his assessment of this part of the overall spending, but he did not carry out any developmental role in supporting private spending and in particular (private investment expenditure), which indicates the survival of monetary policy orbit specification centrally planned economy and thus mimic the powers of anti-economic transformation was not free from AIDS ( Cluster cash off government spending) in the direction (mass cash off total expenditure) under the economic orientation is intended to be for capital spending on a leading role.
VI: The government faced a crisis in the financing of contracts with electricity companies (GE and Siemens), which is supposed to add production capacity is estimated at (10200 megawatts) and a time when the public budget deficit "the Government has requested financing of such contracts through the issuance of government bonds The Central Bank will keep or marketing and acceptance of components within the legal reserve imposed on commercial banks, did not respond to the central bank to lend to the government of (2 billion $), note that the power front and rear links with all sectors of the economy and would be able to reduce production costs in all activities so as to make output a competitor to a large extent revolve the wheel of the demand for production and to expand employment and absorbs a significant part of unemployment and increasing access to distributed production elements and a powerful wave sweeping the country of recovery, but that the central bank as usual, preferring to preserve the foreign Ahtath - Is Alfrsip Compare the cost of the options on the Iraqi economy prior to the rejection - on the grounds that his responsibility is at stability in the currency exchange rate, Tjaja Bakannouna rigid in the independence of the Monetary Authority and isolate itself from development efforts may be that the stability of the day (long term) the ability to restore confidence in the Iraqi economy Vthrol him of capital for reconstruction, and this home imbalances in the monetary policy, we have to adjust the law of the Central Bank of swimmer with the nature of our economy, because the monetary stability at the level of underdevelopment, extreme poverty and destroyed infrastructure and high costs will not lead to the development in the medium term and even long term, while development is a strong payments and a large dose injection of funding will be able to find monetary stability in a shorter time.
VII: Take the Central Bank in the second half of 2009 steps in the right direction - the pressure exerted by the school where other economic role - leading to reduced tightening in monetary policy and wish to take greater strides in this direction, especially regarding the closure of investment outlets which were open to a friendly against commercial banks and specialized governmental and civil and lower interest rates, allowing banks to pay to the practice of lending more affordable and increase the money intended for lending by reducing the legal reserve ratio now 20% of the amount as well as measures to facilitate the prescription and borrow from a lender of last resort.
Especially the private banks that have a greater ability to manage (credit risk) and to give assurances on the grounds that lending takes place between (banks and the civil sector, Ahli) away from the government that they always feel that the borrowers (bulk of their money and deception is permissible), what if the central bank lent (2 billion), $ of the reserve to the banks without interest, I suppose it lent to productive sectors according to a real neat controls, the economy will spin the wheel and come out of deflation, then the dollar will be spent in the field of a sound investment (more than double the guide does not remain sterile), then the benefits of becoming a semi-liquid assets (secured) and differences in currency speculation Alajnip derived by the central bank is not of importance and here we believe that the cost Alfrsip to keep large reserves were too high for awhile.
alsabah
http://articlesofinterest-kelley.blogspot.com/2010/02/economic-foreign-exchange-reserves-at.html
Some have reported there will be no charge and some say a flat $15 fee.
So it looks like it will be up to the banks but I am sure they will be well within reason and competitive.
One thing for sure is if this thing pops like i think it is about to do the banks will want your dinar and will be very happy for our business
Thanks TechStockBob and I agree it appears many have not invested based upon sound due diligence but upon "tips" and the prompting of others.
This is a strange phenomenon.
When we first started this board and started our initial DD on the IQD we were getting most of our data from documents and past news from the US Treasury the UN, the Dept of State, the World Bank and the IMF but then someone found that there were "Dinar forums" on the web.
So we started to read them and even post a little on them. What we found was that many of these "Dinar forums" were not real investment forums but were spin offs of multi level marketing forums (MLM).
They seemed to be populated with a lot of people who had migrated from one MLM scam to the next and it seems that 99% of all of these "dinar forums" were just started as the next thing to get into.
It is still apparent that some of these dinar forums still work off of this format and still host a myriad assortment of MLM scams but use the IQD as a draw to their forums.
Anyway I myself became fascinated by this eclectic mix of people (young, old, poor, rich) who had gotten involved in the IQD on these forums and saw from the get go that true and factual DD was near non existent on most and most were 100% rumor driven.
Now as most real investors know the markets are driven at times on rumor and the ability to take a rumor for what it is and to not get emotionally swept up into the rumor is vital to sound decision making (trade with your mind not your heart).
It was evident on the "Dinar Forums" that this basic lack of understanding of the nature of speculative investing and the inherent dangers there of was sorely lacking and most who were involved became involved with little to no due diligence.
Now as you know that can only lead to one thing and that is emotional volatility that rises like a wave with every passing rumor. (More like a roller coaster for some)
Seeing that most of those involved had no idea of the true potential of just what they held and the possible ramifications it could have on them and their families I jumped in and tried to help with some of the basic DD and realities of the situation.
Well I became very involved and saw that much of the "rumor" was based upon false information being seeded onto those forums from Dinar dealers and those who pump for them and this has gotten worse over time and most of the forums are not free but now have paid memberships to some sections or many now have launched into selling books and a "Pay pal" button can be found on most of those sites.
Now I am all for making money but to me it appears that some of that is borderline exploitation of those who are only looking to better themselves and in today's rocky unsure economic situation and to me that is not cool.
Sure, during the gold rush of 1849 there were those who made money by selling $100 shovels and $15 loaves of bread to the miners but the miners were paying in gold nuggets and until this plays out the gold is yet to be seen.
So that was it for me...i tried to give hope to the hopeless all based on what I know and what I have found from my own DD (yes i put my money were my mouth is) but I also invested in way fitting for something so speculative and dangerous but many of the "dinar forum" investors did not think before they took the leap and are now in emotional turmoil.
Anyway...I think all information and DD should be shared for free and made available for all.
There are some good investigative dinar forums out there and some very good finders of facts AND there are some good rumor sources but with the rumors this stuff is so classified even the well placed have a hard time getting accurate and dependable information which makes the situation fluid at all times.
So anyway I bailed on the "Dinar Forum" thing to get back here to where I stated this investment and the core of our DD but still the emotional investors who have jumped in with few facts and zero DD remain. I just hope i have been of some help and have given some hope to some of those who needed it.
Because IF this thing RVs the way I and others think it is about to...it will change the lives of many people in this nation and for the first time give some people a true chance at success and freedom from the poverty that for some has been the norm for generations.
There are people who are holding Iraqi Dinar right now who are the descendants of immigrants who came to this great nation seeking the American dream to find not the dream they sought but hard labor and a days wage.
They built the railroads, they dug the coal they worked the mills and for generation after generation they have struggled to archive the dreams their fathers sought and fought so hard for to only find the chance slide further and further away.
I hope and pray that for some this investment finally gives to them and their families the dream sought by their great grand fathers and great grand mothers that they may finally get that chance at the American dream.
So this phenomenon has a chance of changing the lives of many and of also revitalizing our economy for a while and that is what I hope we all see very soon.
Best of luck to ALL who hold IQD.
Go DINAR!~
IQD in @ .0009 HOLD!~
Adviser Central Bank - Issuing instructions required to disclose any money into their banks in Iraq
January 19, 2010
Adviser for the CBI and coordination with international bodies and relevant local agencies to follow up on the phenomenon of money laundering.
Appearance, "said Dr. Mohammed Saleh told the independent press (Iba) said Tuesday that the bank had previously issued a set of instructions required to disclose any money into their banks in Iraq, whether governmental or civil and follow-up of suspicious transactions to ensure that used in the crime or terrorist financing. Indicating that the purpose is to control crime and not to withhold economic freedom.
He said the bank first called to the fight against money laundering and follow-up and the basis for cooperation with the International Committee World Anti-money laundering and countering these attempts and to impose sanctions on the perpetrators of this crime and the practical steps taken, to avoid exploitation of the country a haven for illegal money.
Salih noted that the information collected by the Central Bank in cooperation with Iraqi banks refers to the absence of the banking system of this phenomenon is now. He emphasized that certain procedures and steps taken by Iraq in order to address this crime and ensure the safety and effectiveness of the measures adopted by the country.
It should be noted that the law CBI contained paragraphs important follow-up phenomenon and the diagnosis of those who made it in collaboration with the regional and international levels.
iba~
http://articlesofinterest-kelley.blogspot.com/2010/01/adviser-central-bank-issuing.html
Tunner61 well I know that some have contacted the banks about this and have reported the BoA said they will open an account for deposit of dinar that very day.
Also Chase was reported to say the same thing.
Now it would be quicker if you had an account open before.
I am sure the banks will be more than willing to work with everyone.
Thanks TechStockBob that was good break down and I agree to a point.
Your reasoning is sound and correct but I think what we are about to see is a novel event and a "hybrid re denomination" if you will.
I think we will see this combined with a revaluation. So they will revalue the IQD at the same time as the removal of the zero notes and we will see a combination of a massive revaluation hand in hand with the re denomination done by having the lower denominations placed into circulation at the same time and over a short time remove the lower denoms.
Also people have attempted to back engineer this event with incorrect or missing data.
It seems time and time again people confuse the actual currency in circulation with the M2 and you will even see lengthy rants on the M2 of Iraq.
Well the M2 is NOT the amount of physical currency in circulation but a combination of physical currency and electronic digits and deposits and not the true physical currency amount.
The actual physical currency amount of any nation is the M0 and NOT the M2 so most negative commentary on the future exchange rate of the Iraqi Dinar is based upon the wrong data set , the M2 and being so is flawed from the onset and therefore impossible to be true.
There has never been published anywhere that there was more than 9 trillion IQD ever printed.
And that 9 trillion was reported to be 14 denominations and of those 14 denominations 5 have never been seen (lower denoms) and when they exchanged the old for the new only 4.5 trillion were placed into circulation.
The CBI Governor. said last fall in an interview that there was less than 4.5 trillion in circulation (M0) and that they were removing currency from circulation on a regular basis at that time.
So all of the talk of 35 trillion physical dinar in circulation is impossible.
But if we are talking about M2 then yes those high numbers are real but only as M2 and not M0 (physical currency).
There has never been any articles ever printed saying more dinar was ever printed above the first printing of 9 trillion of which a little over half of that amount was placed into circulation.
The true fact is that many of those false high numbers came for published M2 numbers. But what few know is that the M2 of any nations is not the physical currency in circulation. The M2 is a combination of physical and digital.
The true amount of currency in circulation is the M0 or (M Zero).
So the number needed to back any accurate attempt as many have done is the M-0 (zero) and not the M-2.
Now here is the other problem, The actual M-0 (zero) of Iraq is classified and the evidence of it being classified can be found on the CBI site itself.
The evidence of this is not an admission of this fact but the “omission” of facts.
You see there are no current and accurate accounting facts for the CBI that are open to the public as the only most recent accounting data is from 2008.
So all of the hard work by many has been falsely based upon incorrect or missing data.
The reason for this missing data and hiding of facts is done as an attempt to stem speculation and confuse those who try in vain as many have to back engineer the data to come to any useable conclusion which as you can now see is not only futile but impossible.
So most all talk of these high numbers of IQD have all been based upon incomplete or missing data and also on the wrong data set (M2 instead of M0) and therefore cannot be correct in any way.
Thanks again!~
GO DINAR!~
IQD in @ .00009 HOLD!~
Also Citi Bank.
Banks that will accept IQD
Some banks at this time buy and sell IQD
Those are:
TD Bank
5th 3rd Bank
and Compass Bank
It has been reported that post RV the following will all exchange:
Chase Bank
Bank of America
TD Bank
HSBC
CITI Bank
Wells Fargo (selected branches)
Compass Bank
5th 3rd Bank
Regions
and there may be more.
When this thing changes we will be sure to share and post all US Banks dealing in the exchange of the Iraqi Dinar.
It is reported that some private currency dealers will be doing exchanges but I only recommend and support established US Banks but to each his own and due diligence is advised.
Best of luck to all.
Go Dinar!
IQD in @ .0009 HOLD!~
Banks that will accept IQD
Some banks at this time buy and sell IQD
Those are:
Regions Bank
5th 3rd Bank
and Compass Bank
It has been reported that post RV the following will all exchange:
Chase Bank
Bank of America
TD Bank
HSBC
Wells Fargo (selected branches)
Compass Bank
5th 3rd Bank
and there may be more.
When this thing changes we will be sure to share and post all US Banks dealing in the exchange of the Iraqi Dinar.
It is reported that some private currency dealers will be doing exchanges but I only recommend and support established US Banks but to each his own and due diligence is advised.
Best of luck to all.
Go Dinar!
IQD in @ .0009 HOLD!~
ttrain26 wrote:
Quote: "ema-266
I would like to inquire again relating to the value of my 'held'
IQD after RV.
Example: 125,000 IQD, Remove 3 zero's = 125 American Dollars OR 125,000 = $125,000 American?
Thank you for your honest opinion;new here....
retminded"
ttrain based upon all of my DD and current speculation and extrapolation of current articles my guess is we will see the IQD at or near the dollar in value.
So to answer your question after this all transpires I am speculating that the 125,000 IQD that you now hold will be worth approximately $125,000. USD
IMHO
My take on the current situation.
Sometimes we need to take a glance back to see just from where we have come to know full well were we now stand.
Here is a refresher.
Iraqi is under chapter 7 UN sanctions and as we all know we may see the removal or modification of Chapter 7 sanctions this Tuesday the 16th as the UNSC meets on this very issue.
Chapter 7 is the 7th chapter of the UN charter which places nations under strong international economic
sanctions.
Iraq has been under UN Chapter 7 sanctions from 1991 until present.
They were placed under these sanctions right after the invasion of Kuwait.
It was under the authority of Chapter 7 sanctions that the UN/IMF/World Bank came into Iraq and took over the Central bank and the currency of Iraq.
When they did this they deemed all Iraqi Saddam Dinars void and issued the New Iraqi Dinar that we now hold.
This company DelaRue printed 9 Trillion IQD and they introduced this in October of 2003 and gave the Iraqis 3 months to exchange the old for the new.
A total of 4.5 trillion was exchanged and went into circulation and the rest was placed into protective storage.
When the new IQD was printed there were 14 denominations printed but only 9 have been issued to date and it is speculated the lower denominations that were not released are the ones that are about to go into circulation now as they remove the larger "zero notes"
It is speculated that the 5 missing denominations that we are about to see are the 25 dinar the 10 dinar the 5 dinar the 1 dinar and the 1/2 dinar notes.
When they did this change of currency they also devalued the currency to near worthless.
This massive devaluation was done for specific reasons.
Reason 1 was to prevent and hinder the resistance from having the funding to fight the US and British forces.
And the second reason was to prevent or reduce the pending humanitarian disaster that would have been caused by a flood of refugees into surrounding nations.
So by doing this massive over night devaluation they effectively froze/removed the personal monetary assets of all Iraqis.
Now it is under this same authority of the UN Chapter 7 and the sweeping powers it gives the international community over Iraqi assets that the revaluation of the Iraqi Dinar will happen and this also provides the legal bases of same.
So all that we will be seeing when the revaluation takes place is the return of the assets which were removed from the nation of Iraq and its people.
It is not like the nation of Iraq will be getting something out of no where...it is just that what was taken from the people and the nation of Iraq will be returned and even then only a fraction of what they once had.
So the reality of the situation is that after all is said and done the nation of Iraq after coming out of near 20 years of economic sanctions and after the return of the assets and wealth to the people and nation of Iraq the value of the Iraqi Dinar even AFTER the revaluation will be a fraction of what it was pre UN sanctions.
As it should be.
So what we are seeing now with all of the confusing articles on the removal of zeros is to be expected.
My analysis of all of the "removal of zero" articles is the following:
1. They are about to revalue the Iraqi Dinar to at or just above $1.00.
2. They at the same time will place into circulation the lower denominations, 25,10,5,1, and 1/2 dinar notes.
3. They will then give a set time for the removal of the "3 zero notes" (large denominations) and that deadline may be the end of 2010.
Now I have always thought we would see the removal of Chapter 7 sanctions at or near the same time as the revaluation of the Iraqi Dinar and as stated before we see that they have set this Tuesday the 16th for the meeting on this very subject.
So that is it...we see Iraq moving forward with the free and open democratic elections and we have the UNSC meeting this very week on the removal of Chapter 7 sanctions so all in all things are looking great.
So I just thought I would share this refresher with all on just where we have come from in an effort to clarify just where we now stand.
Hope that helps.
GO DINAR!
IQD in @ .0009 HOLD!
YES! This week the Finance Minister of Iraq in a statement about
the removal of the larger notes and issuing of the lower notes said the following:
Quote: "Noting that the Iraqi dinar would be offset dollar or slightly more than after the application of this proposal."
So by the words of the Iraqi Finance Minister himself it will be valued at or slighty more than 1 dollar per 1 Iraqi Dinar.
Go DINAR!
IQD in @ .0009 HOLD!
Rick..Iraqi is only under chapter 7 UN sanctions.
Chapter 7 is the 7th chapter of the UN charter which places nations under strong international economic sanctions.
Iraq has been under UN Chapter 7 sanctions from 1991 until present.
They were placed under these sanctions right after the invasion of Kuwait.
It was under the authority of Chapter 7 sanctions that the UN/IMF/World Bank came into Iraq and took over the Central bank and the currency of Iraq.
When they did this they deemed all Iraqi Saddam Dinars void and issued the New Iraqi Dinar that we now hold.
This company DelaRue printed 9 Trillion IQD and they introduced this in October of 2003 and gave the Iraqis 3 months to exchange the old for the new.
A total of 4.5 trillion was exchanged and went into circulation and the rest was placed into protective storage.
When the new IQD was printed there were 14 denominations printed but only 9 have been issued to date and it is speculated the lower denominations that were not released are the ones that are about to go into circulation now as they remove the larger "zero notes"
It is speculated that the 5 missing denominations that we are about to see are the 25 dinar the 10 dinar the 5 dinar the 1 dinar and the 1/2 dinar notes.
When they did this change of currency they also devalued the currency to near worthless.
This massive devaluation was done for specific reasons.
Reason 1 was to prevent and hinder the resistance from having the funding to fight the US and British forces.
And the second reason was to prevent or reduce the pending humanitarian disaster that would have been caused by a flood of refugees into surrounding nations.
So by doing this massive over night devaluation they effectively froze/removed the personal monetary assets of all Iraqis.
Now it is under this same authority of the UN Chapter 7 and the sweeping powers it gives the internationalal community over Iraqi assets that the revaluation of the Iraqi Dinar will happen and this also provides the legal bases of same.
So all that we will be seeing when the revaluation takes place is the return of the assets which were removed from the nation of Iraq and its people.
It is not like the nation of Iraq will be getting something out of no where...it is just that what was taken from the people and the nation of Iraq will be returned and even then only a fraction of what they once had.
Hope that helps.
Go DINAR!
IQD in @ .0009 HOLD!~
Removal of Chapter 7 Feb.16th?
Iraqi Foreign Minister Hoshyar Zebari at the headquarters of the UN Security Council in New York
03/02/2010
Faris Omar
UN Security Council meets in mid-February to hear a report by the Mission of the United Nations to help Iraq (UNAMI) on the one hand, and another report by the representative of Iraq from the other side.
The meeting of the UN Security Council at the time of Iraq's diplomatic actively working intensively to remove Iraq from Chapter VII, which put him in the introduction to its goals.
Iraq was included under the provisions of Chapter VII as a state which threatens world peace and international security after the invasion of Kuwait in 1990.
And imposed on Iraq since that time, broad sanctions and severe restrictions on the arm of its armed forces after the adventures of the former regime and the waste of Iraq's resources and capabilities of scientists on projects that are not feasible for the production of chemical weapons, biological and nuclear weapons.
Officials expect the Iraqis to move while the UN Security Council meets in the sixteenth of February to close my oil for food program and weapons of mass destruction.
The Deputy Foreign Minister Mohammed Haj Hamoud, in an exclusive interview for Radio Free Iraq that Iraq was during the last period in constant contact with the five permanent members of the Security Council to ensure support.
Hammoud said that there were contracts signed in connection with the oil for food program to be decided by the compensation from the liable for compensation and bring down the cases which are not based on the support.
On the other hand was the lifting of restrictions imposed on Iraq in connection with the weapons of mass destruction requires approval by Congress of the additional protocol to the Nuclear Nonproliferation Treaty before to confirm the International Atomic Energy Agency that Iraq implemented all its international obligations in this file.
But the House of Representatives adjourn is unlikely to return to ratify the Additional Protocol during the remainder of its session.
In the face of this situation, "said Deputy Foreign Minister Mohammed Haj Hamoud, Iraq is an arrangement with the United Nations and the International Atomic Energy Agency confirms the commitment of the Iraqi government with all provisions of Additional Protocol pending approval by Congress.
And received Iraq's pledge to accept UN Security Council and the International Atomic Energy Agency.
The agent and the Ministry of Foreign Affairs, Mohammed Haj Hamoud, the closure of my oil for food and weapons of mass destruction will be only resolve the pending issues between Iraq and Kuwait to drive Iraq out of the provisions of Chapter VII and return to the normal position in the international community, adding that this issues can be resolved and unresolved issues between the two brother peoples.
Radio Free Iraq met with the Undersecretary of the Ministry of National Dialogue, logistical Saad, who described the file to a closure of Kuwait to Iraq emerges from the provisions of Chapter VII of the complex topic due to the volume of cases that are still unresolved, including borders and compensation and pledges Iraq towards Kuwait.
He added that logistical All this calls for a study by experts from the United Nations.
That brings the promise of a report to the UN Security Council on the settlement of all these issues between the two countries followed by the decision of Iraq out of the provisions of Chapter VII, describing the process is complex.
And the results achieved by the Iraqi diplomatic in their ongoing work to close the border file and compensation with Kuwait and the Kuwaiti government's response to Baghdad's efforts on this front, "said Deputy Foreign Minister Mohammed Haj Hamoud, the phase that are entered Iraqi move with anticipation of the elections for the seventh of March to the expected period of stagnation after the elections and the formation of a new government in Baghdad.
International law expert Osama Murtaza expressed his conviction of the possibility of reaching a settlement with Kuwait on an economic basis lead to a waiver of compensation pointing to a change in the position of Kuwait after what he called the intransigence shown by the Kuwaiti National Assembly before.
Member of the Legal Committee at the House of Representatives Muhsin al-Sadoun For his part, pointed out that the Iraq of the provisions of Chapter VII would be the ultimate but also unleash a barrage of lawsuits that could threaten Iraq's money, and called for the hedge, such as this.
Atheist in the twenty last December issued a UN Security Council unanimously adopted Resolution No. 1905, that provides for the extension of the protection of the Development Fund for Iraq for another year until the thirty-atheist of December 2010.
And the Development Fund for Iraq is the fund, which holds the proceeds of Iraqi oil.
Contributed to the audio file, Walid Khalid, who held meetings with officials and parliamentarians spoke about the chances of Iraq out of Chapter VII.
http://www.iraqhurr.org/
Report on Iraq - full report
Pdf: February 8, 2010 Report on Iraq - full report @
http://www.reliefweb.int/rw/rwb.nsf/db900sid/MYAI-82N7VJ/$File/full_report.pdf
Iraq: Report of the Secretary-General pursuant to paragraph 6 of resolution 1883 (2009) (S/2010/76)
I. Introduction
1. In paragraph 6 of resolution 1883 (2009), the Security Council requested the Secretary-General to report to the Council on a quarterly basis on the fulfilment of the responsibilities of the United Nations Assistance Mission for Iraq (UNAMI). The present report is the second submitted pursuant to that resolution.
2. The report provides an update on United Nations activities in Iraq since the last report (S/2009/585), dated 11 November 2009, with a focus on the steps taken to implement resolution 1883 (2009). It presents a summary of key political developments during the period under review, as well as regional and international events concerning Iraq. The report provides an update on the activities of my Special Representative for Iraq, as well as operational and security matters.
II. Summary of key political and security developments in Iraq
3. The reporting period witnessed weeks of intense negotiations and a protracted debate within the Iraqi Council of Representatives over amendments to the 2005 Election Law which are required for the forthcoming national elections. On 8 November, the Council of Representatives adopted several amendments which were subsequently vetoed by the Vice-President, Tariq al-Hashemi, on 18 November on the grounds that the seat distribution formula and population data used to determine the total number of seats for the Council of Representatives, as well as their distribution per governorate, were discriminating against out-of-country voters.
4. Through its technical advice and mediation efforts, including the good offices of my Special Representative, Ad Melkert, UNAMI helped the parties to reach an agreement on key amendments to the Election Law.
As a result, the revised law was adopted on 6 December by the Council of Representatives, and subsequently approved by the Presidency Council. On 13 December, the Presidency Council announced that the date for national elections would be 7 March 2010.
5. Despite delays in the adoption of the Election Law, the registration of political entities and coalitions continued. The registration of electoral coalitions with the Independent High Electoral Commission closed on 13 November and 11 lists have been certified to date.
http://www.un.org/Docs/sc/
The Ministry of Finance: Draft Comprehensive System for all banks in the final stages
February 12, 2010
Alsumaria News / Baghdad
The Ministry of Finance of Iraq to make significant progress towards the completion of the comprehensive system for all government banks, noting that the project will allow the citizen an opportunity to withdraw the amount you want from any branch of Bank of Iraq deployed throughout Iraq.
The Advisor to Finance Minister Zia Alckheon in an interview with "Alsumaria News" Friday, "The draft comprehensive system which is implemented by the World Maysz company consists of four stages were completed first and second phases, with the initiation of Phase III," adding that "the Company completed 60 % of the project, which will hopefully be completed by the end of the year 2010. "
The Iraqi Finance Minister Bayan Jabr announced yesterday, in an interview with "Alsumaria News" on the sidelines of a meeting with managers of bank branches to discuss the problems the Iraqi government banks in Iraq, that "the ministry received the 1500 ATM is dedicated to smart card free of charge from the company's global implement smart card project in Iraq, and that these devices will be distributed to private banks, bureaux de change and some supermarkets in order to facilitate the process of assuming the salaries of state employees and retirees throughout Iraq.
Alckheon He added that "next year will see the direct application of the destruction in all of Iraqi banks," noting that "the project will allow the citizen the possibility of withdrawing its money from any branch of the bank branches of government in all provinces, in addition to speed the arrival of remittances from abroad and vice versa during the only 24 hours.
He Alckheon that "the draft regulations will facilitate the comprehensive banking, current account and deposits through the use of a computer without the use of manual work in banking," afterthought "The manual work in the banks will be in the essential needs."
The government banks of the Rivers and sub-Rashid, began in February of last year 2009, the distribution of pensions through the smart card for more than 50 thousand retired and Iraq banks 50 A retired bank governance.
It is supposed to provide about 250 smart card service to its subscribers, including recording the entry and exit for the government officials and the payment of water bills, electricity, telephone and the rest of the tax cuts, but it is not being used in Iraq until today only to receive pensions.
The Iraqi banks did not keep pace with developments in the work of international banks, continued to be linked through the use of telephones and fax machines, did not enter the Internet only after the year 2004.
Seeking Ministry of Finance to the development of banks associated with them through introduction of modern techniques and linking banks globally automatically, to facilitate the process of transfer of funds to and from Iraq.
http://articlesofinterest-kelley.blogspot.com/2010/02/iraq-draft-comprehensive-system-for-all.html
The Ministry of Planning conference postponed
(I think they may have postponed this until AFTER the rate change)
2010-02-13
The Ministry of Planning conference postponed the announcement of the Five-Year Plan 2010
BAGHDAD (Iba) .. The Ministry of Planning and Development Cooperation on the postponement of the announcement of the five-year plan due to be held next Monday.
A statement of the ministry received by the independent press (Iba) on Saturday, a copy of "The conference has been postponed until further notice".
It did not say what caused the delay or determine a new date for the conference.
The Ministry of Planning has announced earlier that it was preparing for the conference to reveal details of five-year plan which includes hundreds of projects.
Related link~
Strategizing Investment in the Five-year Plan contains hundreds of important projects
http://articlesofinterest-kelley.blogspot.com/2010/02/ministry-of-planning-conference.html
You are not going wrong anywhere and you are seeing it as you read it.
yes it sure reads like a lop in one article and then the next it does not.
We will have in the same article a place where it says it will not harm the value and make it near the dollar and then it will say just like Turkey and Brazil and we know those were true to the form Lops.
I think we are getting the contradictions by design.
This almost reminds me of the confusing and false statements put out by the government of China pre revaluation years ago.
China came right out and made an official statement they would never do it and within 24 hours revalued.
So I have to go with the DD I did in the beginning and stick with the fundamental facts of the strength of the nation of Iraq and the fact they are near debt free or soon to be.
I think with all of his rhetoric coming out over 10 -12 articles talking about this and all being a little bit alike but none the same.
I think this is done by design and to me is a tell of pending change.
What will that change be?
Well we will soon find out because they would never put all of this out if they were not close to action.
What is the meaning to all of these poor translations?
Hold tight...we are soon to know.
Go Dinar!
IQD in @ .0009 HOLD!
US Treasury official to visit Kuwait on Wednesday
Meetings to be held on: Feb. 13th - Saudi Arabia, Feb. 14th - Jeddah Economic Forum, Feb. 15th - UAE, and Feb. 16th - Dubai, and Feb. 17th - Kuwait...
13 February, 2010
US Treasury official to visit Kuwait on Wednesday
US Deputy Treasury Secretary Neal Wolin will visit Kuwait next week to discuss the global response to the economic crisis, it was announced here late on Friday.
Wolin will arrive to Kuwait on Wednesday, February 17, for meetings with senior officials including Minister of Finance Mustafa Al-Shamali, Central Bank Governor Sheikh Salem Abdulaziz Al-Sabah, Kuwait Investment Authority Managing Director Bader Al-Saad, and Economic Advisor to the Amir Dr. Yousef Al-Ibrahim "to discuss the global response to the economic crisis, efforts to reform the financial system, and the importance of combating terrorist financing," said the Treasury Department in a statement.
This is part of a tour in Gulf Countries Council (GCC) that will take him to Saudi Arabia and United Arab Emirates.
Wolin will arrive on Saturday, February 13, in Riyadh for meetings with Saudi Finance Minister Ibrahim Al-Assaf and Saudi Arabia Monetary Agency (SAMA) Governor Muhammad Al-Jasser where he "will discuss issues highlighted in the G-20, including the commitment to developing a framework for strong, sustainable, and balanced growth and the continued need for international financial reform ...before heading on February 14 to Jeddah to deliver remarks at the Jeddah Economic Forum during the "Global Economic Governance after the Crisis" session.
"The architecture of global economic governance has shifted. The narrow, exclusive structure that defined the last half-century has given way to a more diverse, more inclusive architecture. We have moved, one might say, from the tower to the tent.
And the importance of coordinated international action within this broad system of global economic governance is clearer today than at any time in recent memory. As a result of this shift, I believe that we now have a better potential to confront the most difficult economic challenges facing the world today," said Wolin in the statement.
On Monday, February 15, Deputy Secretary Wolin will be in Abu Dhabi to meet with UAE Central Bank Governor Sultan bin Nasser Al-Suweidi and with officials from the Ministry of Foreign Trade, including Sheikha Lubna Al-Qasimi, and officials from the Foreign Ministry, and will also visit the Abu Dhabi Investment Authority (ADIA) and the Abu Dhabi Investment Council (ADIC) for meetings.
Wolin will hold a roundtable discussion "focused on empowering young Emirati men and women to pursue meaningful private sector employment opportunities that deliver long term contributions to the economic growth and enterprise base of the country.
The Deputy Secretary will be joined by representatives from leading Abu Dhabi organizations spearheading initiatives to create such opportunities." Moving to Dubai on February 16, Wolin will meet with senior officials including Minister of Cabinet Affairs Mohammed Al-Gergawi, Chairman of Emirates Airlines and head of Dubai Supreme Fiscal Committee Ahmed bin Saeed, CEO of the Investment Corporation of Dubai Mohammed Al-Shaibani, and Governor of the Dubai International Financial Centre Ahmed Al-Tayer.
In collaboration with the Dubai School of Government, Wolin will host a discussion for students, research fellows, young alumni, entrepreneurs, and members of Young Arab Leaders on the state of the global economy in the wake of the financial crisis and the importance of cooperation between the US and the Arab world.
kuwait news agency
Neal Wolin - US Deputy Treasury Secretary
You- Tube:
The deletion of zeros from the dinar converts it to a competitor of the dollar ...
Sat, 13-02-2010
Baghdad / term
Officials at the Central Bank that the bank has prepared a plan to drop three zeros from the Iraqi currency with the nominal to maintain its purchasing power.
Officials at the Central Bank since the beginning of February that the bank has prepared a plan to drop three zeros from the Iraqi currency and thus smaller nominal value, while maintaining the purchasing power and value of real.
The adviser said the appearance of the central bank governor Mohammad Saleh: that the switch will be a gradual long-term co-exist during which the old currency and the new currency so as not to be affected by the market and commercial transactions.
He said Finance Minister Baqir Jabr Al-Zubaidi said such a resolution would put Iraq in the ranks of the Gulf states and calling it the action is heartening.
And re-remembered that other countries did this step, such as Turkey and Brazil.
However, as is expected in every step of such a large, central bank's decision to delete three zeros from the national currency rumors about increasing the value of the Iraqi dinar.
However, Finance Minister Bayan Jabr denied that a process of change to any shocks.
Advisor of the Central Bank the appearance of Mohammed Saleh For his part, stressed that dropping the three zeros of the draft Strategy in line with the development which is expected to be witnessed by the Iraqi economy in the next phase.
Mohammed Saleh assured citizens that the process of switching the currency will be easy and convenient, but noting its benefits in facilitating business transactions.
The consultant noted the appearance of Mohammed Saleh said the new Iraqi dinar will remain when it was put on the symbols of Iraq and holding the Ghtyh Co, Arabic and Kurdish.
Expert financial and economic as Abdul Hadi welcomed the orientation of the Central Bank decision to delete the zeros of the Iraqi currency ruling out any negative effects on it.
Pointing out that the decision to drop the zeroes on the currency that would, among other benefits, the proliferation of ATM machines that are still unknown in Iraq because they can not mobilize such devices in Iraqi dinars at the present time.
http://translate.google.com/translate?prev=hp&hl=en&js=y&u=http://almadapaper.net/&sl=ar&tl=en&history_state0
MARCH 16 -17 2010 - UNITED NATIONS "THE MONTERREY CONSENSUS AND DOHA DECLARATION"
Interesting fact about CBI's Sinan Shabibi and the upcoming United Nations meeting, which will cover the global economy (UNCTAD), which Shabibi was (is) an expert ....
Central Bank of Iraq's Governor, Sinan Shabibi and the United Nations ...
~"Was until retirement a Senior economist at the United Nations Conference on Trade and Development (UNCTAD)".
link ~
http://articlesofinterest-kelley.blogspot.com/2009/11/unctad-trade-and-development-report.html
"The report points to the importance of stabilizing real exchange rates at a sustainable level. Such a system would go a long way towards reducing the scope for speculative capital flows that generate volatility in the international financial system and distort the pattern of trade. A stable real exchange rate (RER) at a competitive level would achieve a number of targets simultaneously"
Profile: Sinan Shabibi
Consultant on Trade, Debt and Finance.
Was until retirement a Senior economist at the United Nations Conference on Trade and Development (UNCTAD).
Undertaken research on Financial flows, Economics of disarmament, Balance of Payments, External debt, Globalisation, and the Iraqi Economy.
Managed projects for the implementation of policy, analytical and institutional aspects of debt management including the implementation of UNCTAD's Debt Management and Financial Analysis System (DMFAS) in several Arab countries. Familiar with the macroeconomic and operational aspects of the "Debt Sustainability Model (DSM)" of the World Bank, and with the HIPC initiative.
Coordinated UNCTAD's work on OPEC financial flows to other developing countries resulting in the production of numerous reports on the subject.
High-level contacts with Government Officials especially in the Arab region.
Delivered numerous lectures and talks on the "Economic Prospects of the Iraqi Economy" in many international fora.
Extensive travel experience in connection with work on debt management, OPEC Financial Flows and the work on the Iraqi economy.
Strong quantitative background and high-level computer literacy.
Publications
"Globalisation of Finance: Implications for macroeconomic policies and debt management", March 2001, Paper presented to a conference on "Globalization and the Gulf organized by the institute of Arab and Islamic Studies, University of Exeter, England, 2-4 July 2001.
"Prospects for the Iraqi Economy: Facing the new reality". Paper presented to a conference on "The Future of Iraq", organized by the Middle East Institute, Washington. The paper was published in a book with the same title in November 1997 and reprinted in the UNCTAD secretariat. It deals with the effect of sanctions, debt, and war reparations on the future prospects of the Iraqi economy.
"The Arab share in OPEC Aid: Some related facts" in Arabic, in Al-Mustaqbal Al-Arabi, Centre of Arab Unity Studies, Beirut, September 1988.
"OPEC Aid, Issues and Performance" in the OPEC review, Vienna, spring 1987.
Link:
http://articlesofinterest-kelley.blogspot.com/2009/11/united-nations-monterrey-consensus-and.html
Central Bank of Iraq web site:
http://www.cbi.iq/thecbi.html
Link to this whole article:
http://articlesofinterest-kelley.blogspot.com/2009/11/central-bank-of-iraqs-governor-sinan.html
Yes but also keep in mind the US has been doing massive currency swaps worldwide and have brought in massive amounts of currency from all over the world into our coffers.
These currency swaps that have been ongoing for nearly 18 months ended on Feb 1st.
It is speculated by many and supported by DD on the the Monterrey Consensus and the Doha Declaration
that stated the planned goal a global re balance of currencies happening at or near the same time.
It has been speculated by some that this global re balancing has been facilitated by the coordinated currency swaps and will involve major revaluations of many currencies at the same time on a global scale.
So with that being the case the amount of Iraqi Dinar held by the US Government will just be a part of the total sum of this equation and being so will not be a stand alone event but a part of the whole.
Here are a few supporting links:
CURRENCY SWAPS 2008-2009-2010 LINKS ~
http://articlesofinterest-kelley.blogspot.com/2009/11/currency-swaps-2008-2009-links.html
MARCH 16 -17 2010 - UNITED NATIONS "THE MONTERREY CONSENSUS AND DOHA DECLARATION"
http://articlesofinterest-kelley.blogspot.com/2009/11/united-nations-monterrey-consensus-and.html