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here ya go NarrowSpace......this is a prime example of a country that is going to lop.....vastly different from Iraq's situation!
Removing Zeros - Makes Sense for Some Countries
Zimbabwe Plans Changes to Currency
Reserve Bank Chief to Remove 'More Zeros,' Raise Cap on Cash Withdrawals
By Angus Shaw
Associated Press
Monday, July 28, 2008; Page A11
HARARE, Zimbabwe, July 27 -- Zimbabwe's bank chief plans new steps to address currency problems -- removing "more zeros" from the plummeting Zimbabwe dollar and raising the limit on cash withdrawals -- to tackle the country's runaway inflation and cash shortages, state media reported Sunday.
Previous currency revisions have failed to tame Zimbabwe's inflation -- officially pegged at 2.2 million percent a year but estimated by independent analysts to be closer to 12.5 million percent. It has become nearly impossible to access cash as the country's economic collapse worsens.
Authorities last week released a new $100 billion bank note. By Sunday it was not enough even to buy a scarce loaf of bread in what has become one of the world's most expensive -- and impoverished -- countries.
The Sunday Mail, a government mouthpiece, reported that the central Reserve Bank governor, Gideon Gono, said at an agricultural show Saturday that he would introduce the new measures in the coming days to make sure cash shortages are a "thing of the past."
Zimbabwe's government says Western sanctions -- tightened last week -- are the main cause. Critics blame mismanagement by President Robert Mugabe's government and a land-reform program that slashed the country's agricultural production.
To improve liquidity on the market, Gono planned to remove "more zeros," the paper reported.
"This time, we will make sure that those zeros that would come knocking on the governor's window will not return. They are going for good," Gono was quoted as saying.
In 2006, the central bank slashed three zeros from the currency when inflation stood at a few hundred percent, already the highest rate in the world.
Computers, electronic calculators and automated teller machines at banks have not been able to handle basic transactions in billions -- nine zeros -- or trillions -- 12 zeros -- or even quadrillions, with 15 zeros.
A new laptop computer was advertised Sunday at 1.2 quadrillion Zimbabwe dollars. That's the equivalent of about $25,000 at the official exchange rate, $8,500 at the black-market cash exchange rate, or $2,000 at a third exchange rate used in electronic money transfers through bank accounts that do not involve the physical issue of Zimbabwe dollar bank notes.
Zimbabwe's money shortages, inflation and chronic shortages of food, gasoline, medicine and most basic goods have brought many businesses in Harare to a standstill. Smaller shops and at least four main restaurants have shut down.
State media reported Saturday that nightclubs were canceling music shows because audiences dried up after a 2,000 percent increase in prices for beer and soft drinks in the past week. Several bars and clubs were openly accepting U.S. dollars, even though that is against the law.
http://www.washingtonpost.com/wp-dyn...072701594.html
Vice-Shahrastani demanding his resignation for the failure of the Department of the oil sector in Iraq
BAGHDAD - Iraq votes 29 / 07 / 2008 at 18:58:53
The decision of the Commission on oil and gas in the Iraqi Parliament, Tuesday, Oil Minister Hussein Shahrastani to submit his resignation because of what he considered the inability of the current administration in the ministry to manage the oil sector in Iraq, criticizing the ministry's intention to sign contracts with some oil companies.
He said Jaber Al Khalifa, Rapporteur of the Commission, the Independent News Agency (Voices of Iraq) that "the administration in the Oil Ministry is not able to manage the oil sector in Iraq, and must be replaced, including the oil minister."
But Al Khalifa added, "The conditions are not currently available to withdraw confidence from the oil minister, because control of the executive power to other authorities, but felt that through the non-approval of the executive branch to the questioning of some ministers, including Minister of Trade."
The Chairman of the Integrity Commission morning helped feet, in mid-January last, a request to the presidency of the House of Representatives signed by (105) deputies, to interrogate Iraqi Trade Minister Abdel Sudanese farmer on charges of "financial corruption."
The MP criticized the Caliph "contracts concluded by the Ministry of Oil with some foreign companies to develop oil fields", calling for "eighty investment fields already discovered, by the National Oil Company and not by those foreign companies."
The decision of the Commission on oil and gas in the parliament to grant the fields for foreign companies "in contradiction with the law of oil and gas, which is being debated for some time."
His "after the oil sector to increase production, needs to be some other projects in the infrastructure of oil, increased absorption of the tanker pipeline, in addition to the memorial a good reservation system meters of waste oil wealth," pointing out that "we do not have oil storage tanks to accommodate oil Extracted "from the fields.
The delayed approval of the House bill oil and gas, which was approved by the Government of Nouri al-Maliki and be referred to the House of Representatives in July of last year, due to opposition suffered by several parliamentary blocs and political opinion that the project gives "unprecedented concessions" to foreign investors in the administration Installations and oil refineries, and allows investing for periods of up to (50) years, and he devotes controlled territories on wealth owned both the Iraqi people.
It was the Iraqi Oil Ministry announced weeks ago, its intention to negotiate with a number of foreign companies to sign contracts and assigning a technical service and partnership to develop some oil fields.
Arabic..
http://translate.google.com/translat...language_tools
If oil was the only reason we're there....why didn't we just take it as spoils of war? Why are we even bothering helping them set up a government or rebuilding their country?
Try looking at the big picture....then perhaps things will make sense....MSM is feeding the American public a load of crap!
Your starting to sound like Ranger....just opposite of "pumping"
dinar.....lol.....you also never answered my questions concerning why you have spent so much time trying to debase this investment.
You also.....
CableGuy....the question was directed to Aero, as to the reasoning behind his heartburn with Dinar investment.
You are more than welcome to believe in whatever you determine as facts.....makes no difference to me.
The history of DaveDinar/Aerospace is well documented at IIF and elsewhere.....
CBE: low inflation and good for the deletion of zeroes
Wed Jul 09, 2008 12:29 pm
An adviser Central Bank Governor, the appearance of Muhammad Salih, a decline in annual inflation rate in Iraq to 14% over the past year 2007, compared with annual inflation recorded in 2006, which reached a rate of 77%, according to statistics of the Central Bank to measure inflation.
He pointed to the central bank sought to raise the number of zeroes of Iraqi dinars. Saleh said: "The rental real estate, transportation, a component of President indicator of inflation, the basis for calculating rates of inflation in the Central Bank in accordance with the policy of spending, which is responsible for the bank." He added that one reason Chairperson of the rise of inflation in Iraq, was the high prices of oil derivatives in addition to the shortage of supply.
He said that "the prices of oil derivatives Amendment, the latest shock and one of inflation, but fuel shortages from time to time, causing shocks continuing" as he put it. Saleh pointed out that due to low inflation central bank decided to reduce the rate of interest at banks governmental organizations from 17% to 16% , Having shown a decline in the inflation rate.
He stressed that raising interest rates in the bank, is one of the monetary policies which led to the reduction of inflation in Iraq. On the other hand, revealed adviser Central Bank Governor "sought to delete the bank and raising the number of zeroes for the future Iraqi dinars, after rising separates Iraqi dinar 20% "He refused to identify the roof of a timetable for lifting these zeroes, but he indicated at the same time that" the lifting of these zeros will be rational, reflects the prosperity of the Iraqi society and without negative impact upon "as he put it.
Saleh said that "raise the value of Iraqi dinar, depends on the level of inflation for central bank reserves of foreign currency," which he described as "large for the time being," declining to disclose the amount of these reserves. Advisor confirmed CBE governor, Mohammed Saleh appearance: "The The process of lifting the value of Iraqi dinar, will not stop as long as there is a chance to improve its value "as he put it. It is noteworthy that the Central Bank of Iraq, which had been lifted in 2006 and 2007, the interest rate to cope with the sharp imbalance in prices then, reaching a maximum annual benefit beginning in 2007 , To 20 per cent annually.
http://translate.google.co.uk/translate?u=http%3A%2F%2Fwww.aljeeran.net%2Feconomic.html&sl=ar&tl=en&hl=en&ie=UTF-8
Aero or DaveDinar or whatever your being called this week.......
What's your point always trying to bash this investment?
Are you trying to get people to set up Warka accounts or just your mission to be an "internet told ya so" smart guy?
Obviously you are at odds with anyone who is invested....so what's your point?
very true, nothing more than a scare tatic IMO.
Deletion of zeros off the rate instead of zeros off the currency
is just as likely......but some see only what they want too....
MPs demanded to speed up the offer of the amended draft law of oil and gas on the House
Post by Seaview Yesterday at 10:48 pm
Asked parliamentarians from different blocks for oil and gas committee in the House of Representatives to speed up the extradition of Parliament amended version of the draft law of oil and gas. Explaining that the draft presented to member contradiction with the constitutional texts in addition to that there are three copies submitted to Parliament to correspond with each other.
The deputy said Abbas Al-Bayati: There is a tendency to adopt the draft law of oil and gas that were raised in February last month and will be the foundation and will open to opinions and observations of the masses for their opinion on the creation of political consensus of all parliamentary blocs, adding that have been sent a copy of the Code of oil and gas to the state council The Board registration (13) points to this law, but these points rejected by some of the bloc must find a compromise that has been the law to be final and without taking observations from any bloc, pointing out that we are looking forward to initiate this law before the Constitutional holiday Because we were able to settle all contentious points, and we have no objection to the version presented at Chehrchaabat If put to the vote we will vote them.
For his part, member of the Committee of gas and oil MP Abdullah Iskandar Al-Juburi, there are three versions, including a proposed law department of the executive and a section of which it supplements and others are not, and supplements that are not adopting any copy so far there is no political consensus by the parliament blocs are , And there is a problem between the authority of the Kurdistan region and the current government on contracts and exceeded the powers, where've determined to stop all drafts to be amended after consensus from all the blocs, adding that after sending copy to the legal committee and then sent to parliament for debate and voting, saying that this Law concerns all the sons of the Iraqi people, as it defined that all companies are trying to obtain material profit and other concessions There is also a parliamentary bloc against this law and I think that if this law came formula participate in the contracts it will will not succeed.
Shows the deputy Noureddine life: that the draft law of oil and gas wrote in February 2007 and arrived copy of it to the House of Representatives unofficially, then signed a number of ministers but it has not been adopted, at the date of the third month of July last year we received a copy of the second This draft law, but without the four supplements have been challenged by the Commission on oil and gas, and X of the same month reached the third version, which supplements the four but they differ in terms of language and a certified copy No way. He added that the Commission on oil and gas have reservations about the latest version because it calls for providing Projects and laws among the four and one for study and report on a draft Law on the Ministry of Oil and bill of fiscal revenue and royalties that come from oil and the national oil bill and the bill of oil and gas as well as resolving differences between the central government and the Kurdistan Regional Government of Iraq on contracts entered into by the Government of the territory without coordinating with The Ministry of Oil and adopted by the contracts involved in production and this controversial among a large number of deputies and parliamentary blocs, pointing to the difficulty of this debate only after the four bills that have not submitted so far. Meanwhile, Abd El overlooking Nation: The law of oil and gas contains very important questions need to be a quick solution for example the issue of entry of investment companies and investment system would be a partnership based on the companies or services and development fields should be any short-term work is necessary to determine the duration of survival in Iraq and also the issue of the powers of the centre and regions and imports oil from his deputy, Abdul Hadi ABOLHASSANI: The oil and gas law is long overdue and discussed in the corridors of the House of Representatives for several times and the reason is because the current constitution is not clear in its terms to learn from the first authority owns Is the Federal Government or Governments of the Territories.
The MP Salim al-Juburi the absence of a draft special law of oil and gas could then stand to determine whether valid, adding that the parliament to shoulder any responsibility for this law, and the day when the government gives us one copy can identify points of agreement and disagreement but that it gives the government Three copies This is surprising, since all the deputies waiting for the version that will determine our positions and it was important to finish the points of the oil and gas to come back to this law
http://iraqmc.com/modules.php?name=News&file=article&sid=2032&mode=thread&order=0&thold=0
This has been a constant theme though not often recited yet publicly spoken by GOI and CBI officials throughout the years most recently by Shabibi in the Cairo banking symposium a couple of months back:
The Future of Iraq Project
http://www.gwu.edu/~nsarchiv/NSAEBB/NSAEBB198/FOI%20Economy%20and%20Infrastructure.pdf
Written in Dec 2002, declassified June 22 2005
Page 14
"To sustain the likely positive impact of the new currency, it is essential to re-establish the base purchasing and foreign exchange value of the NID as it was in the 1970's" (the value is referenced in the first sentence of the first paragraph on page14 at $ 3.30 USD)
See bottom of page 14 footnote number one:
"The sensitivity of any suggested or anticipated value of the NID should be considered carefully and hence it is advisable that any suggestions in this regard must not be propagated." -
Odd how Warka accounts and the ISX became all the rage at the same time as all the lop talk....
Warka and the ISX both have pro's and con's...like warka accounts not being insured(FDIC) and initially not being able to hold stocks in your name for the ISX.
I'm not a believer in a lop so I'll hold on to my cash......
crap....apologies about the dead link....Happy Fourth to you and yours also!
Food for thought from last month......
No Need for new Currency!!!!!!
No Need At Present To Issue New Currency CBE: no problem in funding
BAGHDAD - An official at the Central Bank of Iraq: There is no problem of financing for projects in the case of projects could be financed as there is no financial problem for us but the process of building and project implementation is lagging on the issue of funding and PROFILE). Ahmed apply to the deputy governor of the bank (that once we were able to develop the capacities of the country in construction and in the management of building projects and investment management in general and the Department of other programmes in the area of development such as education, health, the possibility of funding available and large). He said in response to a question about the possibility of issuing a new currency that (No need at present to issue a new currency and when the lack of necessity for the issuance of the currency and we will be issuing there future plans in this regard and forgery in currency rates are low).
http://209.85.171.104/translate_c?hl...id%3D200811885
Iraq - Diwaniya security transfer delayed
30-Jun-08 [11:12]
Diwaniya, (VOI) – The security duties transfer from the Multi-National Force to Iraqi forces in Diwaniya was delayed on Monday until further notice for reasons relevant to the central government and the IMF Question and also for bad weather conditions, a local official source said.
The source did not elaborate on the reasons pertaining to the Iraqi and U.S. side.
"A curfew was lifted in Diwaniya as of 9:00 a.m. on Monday after the security handover was postponed," the source, who did not want his name mentioned, told Aswat al-Iraq – Voices of Iraq – (VOI).
Diwaniya Governor Hamid al-Khudari had told VOI on Sunday that an indefinite curfew would start at 6:00 p.m., with the exception of service departments in the province, in preparation for the handover of security duties from the MNF to Iraqi forces.
The city streets have witnessed intensive security personnel deployment while the entrances were adorned with Iraqi flags and placards welcoming security transfer to the Iraqi side.
The handover coincides with the 88th anniversary of the outbreak of Iraq's major revolt, known as Thawrat al-Ishreen, or the 1920 Revolution, against the Britons who were then occupying Iraq.
Diwaniya would be the 10th out of Iraq's 18 provinces where security duties are received by the Iraqi authorities.
Security duties in the predominantly Sunni province of al-Anbar should have been handed to Iraqi authorities on Saturday but the U.S. side said the ceremonies were delayed due to bad weather conditions.
Diwaniya lies 180 km south of the Iraqi capital Baghdad.
In 2002, the population of Diwaniya was estimated at 420,000. The area around the province, which is well irrigated from the nearby Euphrates River, is often considered to be one of the most fertile parts of Iraq, and is heavily cultivated.
The town is located on the main rail transport corridor between Baghdad and Basra. For birdwatchers, Diwaniya is a city with a rich bird list, as it has a wide range of biodiversity.
http://www.peyamner.com/details.aspx?l=4&id=64914
Committee to settle oil contracts issue – Barazani (Voices of Iraq)
Iraqi Kurdistan Region Prime Minister Nejervan al-Barazani revealed that a committee was set up with the Baghdad central government during his recent visit to the Iraqi capital to settle the issue of oil contracts as well as the oil & gas law.
Read the entire article at IraqiUpdates.com
NYTimes.com
U.S. Advised Iraqi Ministry on Oil Deals
Monday June 30, 9:35 am ET
By ANDREW E. KRAMER
A group of American advisers led by a small State Department team played an integral part in drawing up contracts between the Iraqi government and five major Western oil companies to develop some of the largest fields in Iraq, American officials say.
The disclosure, coming on the eve of the contracts’ announcement, is the first confirmation of direct involvement by the Bush administration in deals to open Iraq’s oil to commercial development and is likely to stoke criticism.
In their role as advisers to the Iraqi Oil Ministry, American government lawyers and private-sector consultants provided template contracts and detailed suggestions on drafting the contracts, advisers and a senior State Department official said.
It is unclear how much influence their work had on the ministry’s decisions.
The advisers — who, along with the diplomatic official, spoke on condition of anonymity — say that their involvement was only to help an understaffed Iraqi ministry with technical and legal details of the contracts and that they in no way helped choose which companies got the deals.
Repeated calls to the Oil Ministry’s press office for comment were not returned.
At a time of spiraling oil prices, the no-bid contracts, in a country with some of the world’s largest untapped fields and potential for vast profits, are a rare prize to the industry. The contracts are expected to be awarded Monday to Exxon Mobil, Shell, BP, Total and Chevron, as well as to several smaller oil companies.
The deals have been criticized by opponents of the Iraq war, who accuse the Bush administration of working behind the scenes to ensure Western access to Iraqi oil fields even as most other oil-exporting countries have been sharply limiting the roles of international oil companies in development.
For its part, the administration has repeatedly denied steering the Iraqis toward decisions. “Iraq is a sovereign country, and it can make decisions based on how it feels that it wants to move forward in its development of its oil resources,” said Dana Perino, the White House spokeswoman.
Though enriched by high prices, the companies are starved for new oil fields. The United States government, too, has eagerly encouraged investment anywhere in the world that could provide new oil to alleviate the exceptionally tight global supply, which is a cause of high prices.
Iraq is particularly attractive in that light, because in addition to its vast reserves, it has the potential to bring new sources of oil onto the market relatively cheaply.
As sabotage on oil export pipelines has declined with improved security, this potential is closer to being realized. American military officials say the pipelines now have excess capacity, waiting for output to increase at the fields.
But any perception of American meddling in Iraq’s oil policies threatens to inflame opinion against the United States, particularly in Arab nations that are skeptical of American intentions in Iraq, which has the third-largest oil reserves in the world.
“We pretend it is not a centerpiece of our motivation, yet we keep confirming that it is,” Frederick D. Barton, senior adviser at the Center for Strategic and International Studies in Washington, said in a telephone interview. “And we undermine our own veracity by citing issues like sovereignty, when we have our hands right in the middle of it.”
United States officials are directly advising Iraq on a host of issues, from electricity to education. But they have avoided the limelight when questions turn to how Iraq should manage its oil endowment, insisting that a decision must rest with the Iraqi government.
The State Department advisers on the Western contracts say they purposely avoid trying to shape Iraqi policy.
“They have not negotiated with the international oil companies since the 1970s,” said the senior State Department official, who was speaking about Iraqi oil officials and who is directly involved in shaping United States energy policy in Iraq.
The advice on the drafting of the contracts was not binding, he said, and sometimes the ministry chose to ignore it. “The ministry did not have to take our advice,” he said, adding that the Iraqis had also turned to the Norwegian government for counsel. “It has been their sole decision.”
The advisers say they were not involved in advancing the oil companies’ interests, but rather treated the Oil Ministry as a client, the State Department official said. “I do not see this as a conflict of interest,” he said. A potential area of criticism, however, is that only Western companies got the bigger oil contracts. In particular, Russian companies that have experience in Iraq and had sought development contracts are still waiting.
Earlier in the occupation of Iraq, American advisers supported the Oil Ministry’s effort to dismiss claims by the Russian company Lukoil to a large Saddam Hussein-era deal. The ministry maintains that the Hussein government canceled the contract three months before the invasion. Lukoil says the attempt to cancel the deal was illegal because Mr. Hussein had not appealed to international arbitration first, as required in the contract terms.
The new oil contracts have also become a significant political issue in the United States.
Three Democratic senators, led by Charles E. Schumer of New York, sent a letter to the State Department last week asking that the deals be delayed until after the Iraqi Parliament passes a hydrocarbons law outlining the distribution of oil revenues and regulatory matters. They contend the contracts could deepen political tensions in Iraq and endanger American soldiers.
Criticism like that has prompted objections by the Bush administration and the secretary of state, Condoleezza Rice, who say the deals are purely commercial matters. Ms. Rice, speaking on Fox News this month, said: “The United States government has stayed out of the matter of awarding the Iraq oil contracts. It’s a private sector matter.”
Advisers from the State, Commerce, Energy and Interior Departments are assigned to work with the Iraqi Oil Ministry, according to the senior diplomat. In addition, the United States Agency for International Development has a contract for Management Systems International, a Washington consulting firm, to advise the oil and other ministries. The agency’s program is called Tatweer, the Arabic word for development.
“The legal department of the Ministry of Oil passed us a draft of the contract,” Samir Abid, a Canadian of Iraqi origin who is an employee of the Tatweer program, said in a telephone interview. “They passed it to us and asked for our comments because we were mentoring them.”
He added: “It was an exercise in deciding how best to do these contracts. I don’t know if they used our comments or not.”
In a statement, the agency said its advisers had reviewed the oil company contracts, known as technical support agreements: “At the request of the Ministry of Oil, the Tatweer Energy Team has done a review of the format, structure and clarity of language of blank draft contracts.”
The statement said the team did not have access to confidential information from the oil companies.
Consultants said the advice was necessary because the Oil Ministry, like other sectors of the Iraqi government, has experienced an exodus of qualified employees and lacks lawyers schooled in drawing up contracts.
A supervisor with the Tatweer program, who was not authorized to speak publicly and declined to be quoted by name, said that ministry officials, many of them near retirement, needed help.
The American government lawyers provided specific advice, the State Department official said, like: “These are the clauses you may want. You will need a clause on arbitration. You will need this clause to make this work.”
http://biz.yahoo.com/nytimes/080630/...9077.html?.v=3
U.S. administration ban Oil contracts before Iraqi oil law:
U.S. administration banned the 6 major Western companies implementing no bid contracts signed with the Iraqi government for the oil fields located in the centre and south in violation of current laws and before passing the oil and gas law by Parliament. The ban also includes the implementation of 18 contracts signed by the Kurdistan Regional Government with oil companies for investment and exploration within the KRG administrative region and within the disputed areas in Kirkuk in addition to the contract to invest in a field located in Mosul. The ban was imposed after Prominent membes of the Democratic Party urged the U.S. administration to prevent the execution of these contracts considering them illegal. While Hussein Shahrastani said yesterday that the Ministry of Oil has decided to adhere to service contracts, not PSA . Earlier, the Iraqi Oil Ministry said it will announce on the thirtieth of this month the fields which will be involved in the contracts with Shell , Chevron, and other Western companies in addition to the granting of contracts to 40 foreign companies in short-term arrangements for oil extraction which was hoped to be signed next Monday. Meantime, the latest round of talks between Iraqi Prime Minister Nuri al-Maliki and President of the Kurdistan Regional Government failed to reach a settlement over the draft oil which has been stalled in parliament since early this year. The central government refused to accept the demand that the province takes the power to sign contracts and wants this to be the exclusive right of the central government.
he doesn't either, thats his opinion of his interpetation of arablish....
More information on the oil law (HCL). Looks positive for a solution!
--------------------------------------------------------------------------------------
New panel to iron out differences on Iraq oil law: Kurd leader
1 hour ago
ARBIL, Iraq (AFP) — Baghdad and the autonomous Kurdish administration in northern Iraq have formed a new panel to resolve differences between them over a national oil law, a top Kurdish leader said on Saturday.
Nechirvan Barzani, the prime minister of northern Iraq's Kurdish government, said the committee would find a "joint solution" to the proposed energy law, which has yet to be approved by the national parliament.
The committee would include Iraqi Prime Minister Nuri al-Maliki, Barzani and other representatives of Baghdad and the Kurdish Regional Government (KRG).
"This committee will hold a meeting next week in Baghdad, and if we feel there is a need for a technical committee ... that too would be formed," Barzani told reporters in Arbil, the capital of the Kurdish government.
Barzani was in Baghdad earlier this week to discuss the hydrocarbons law with Maliki.
In the past year, the Kurdish government has angered Baghdad by finalising its own energy law and signing contracts with global oil majors despite the absence of national oil legislation.
The law has been delayed in parliament over bitter differences among the assembly's Shiite, Sunni and Kurdish lawmakers over the sharing of the revenues generated from oil sales.
Its establishment is seen as a key benchmark by a Washington aiming for national reconciliation among Iraq's communities.
Barzani said he was convinced during his visit to Baghdad that there were political and constitutional differences over the law but insisted that his government would adhere to the contracts with foreign companies.
"Probably there are opinions in Baghdad that say we have no constitutional right," he said referring to signing of the contracts by KRG.
"I want to confirm that what we do in Kurdistan is a constitutional right."
"Nobody in Baghdad has the right to cancel the oil contracts that Kurdistan government signed with the foreign companies," he said, adding that the issue of contracts was not discussed with Maliki.
http://afp.google.com/article/ALeqM5hw4mYj8fJ9fZRQvJLGXMz8RXQs4w
The responsibility of the Iraqi American Convention on the immunity of Iraqi funds: Were protected under Chapter VII
6/28/08
The responsibility of the Iraqi American Convention on the immunity of Iraqi funds: Were protected under Chapter VII
Lawyer Tariq war
Much talk in the month of May 2008 on Chapter VII or seventh item and we say it is Chapter VII and not heading in the Chapter VII formulation of legislation consists of several articles Each article is composed of several items Clause small part of
Article and article large part of the chapter includes material and items of Chapter VII of the Charter of the United Nations, which is the constitution of the world just as there is a constitution in every country there is an international constitution employees happy at all the world is the United Nations Charter which was approved by the States after the end of World War II and joined him Other States to abide by the Charter of all nations.
The Charter is distributed (19) Grade I was in the purposes and principles and ended in second and third in the branches of the United Nations and the fourth in the United Nations General Assembly and Security Council in the fifth and sixth in resolving disputes peacefully negotiations, inquiry, mediation, conciliation, arbitration and the subject of Chapter VII to watch where the article was taken from Business in cases of threats and breaches of the peace and acts of aggression has included articles of this chapter (39 - 51), where the Security Council whether he had signed a threat or breach of the peace or aggression and has issued recommendations that the decisions of their economic sanctions or the severance of diplomatic relations, transportation and action Military troops land, sea and air and the Security Council resolutions binding under this chapter, contrary to the resolutions issued under Chapter VI.
Compensation system unjust
Iraq's relationship with the resolutions of the Security Council under Chapter VII began long after the invasion of Kuwait in 1990/8/2 since passed resolution 661 in 1990/8/7, including the imposition of a comprehensive ban on Iraq and established a committee province.
A Security Council resolution 687 in 1991/4/3 which established a fund to pay compensation and the Commission to manage this fund and in 1991/5/20 resolution 692 which established a special awards, and resolution 705 in 1991/8/15, which authorizes the deduction does not exceed the (30 %) Of the value of Iraqi oil exports, and resolution 706 in 1991/8/15 and 712 in 1991/9/19, which allowed Iraq to export limited quantities of Iraqi oil and allowed the Security Council full control over the resources of Iraq in resolution 778, which instructed 1991/10/2 Upon all States that have deposits transferred to an Iraqi account the Compensation Fund and in 1995/4/14 resolution 986 which established the principle of the oil-for-food to be exported oil worth four billion dollars annually and the decision in 1991 to 1153 by raising the ceiling of Iraqi oil sales to ten billion Dollars annually, and under these resolutions by the Security Council, Iraq is liable under international law for any loss or injury to governments, nationals and corporations have been paying compensation to each of the deported from Kuwait after 1990/8/2 have been paying billions to the Palestinians, Jordanians, Egyptians and Filipinos And others who left for any reason, even if it wished to travel and included even left Iraq was the payment of compensation for death or wounding or assault and detention for more than three days until the status of the person hiding for more than this period and the case of deprivation of economic resources and that compensation was Due to military operations or threat of military action or the breakdown of civil order in Kuwait so that the Compensation Commission decided that compensation for personal injury does not exceed one hundred thousand dollars and two months ago was the payment of compensation on the grounds that damaged the environment in Kuwait, Jordan and Turkey by more than half a billion dollars!
And licensed those decisions for companies and legal entities progress directly to seek compensation even if the government did not agree to that, for example Company (Hyundai) has been compensated on the basis that the entry of Iraq into Kuwait Ahramhamn benefit from the land was leased to house its workers despite the fact that Iraq did not prevent her from Exploitation of this land and compensation for contracts with the Kuwaiti and losses of these contracts and compensation for physical assets lost even left their owners and compensation for loss of earning and damages resulting from the trade embargo and compensation in case of leaving Kuwait soon attract the support of his government or from the employer that was in Kuwait and left after 1990/8/2 expenses and compensation for the decision not to return to Kuwait after his departure and the sale of personal property and customs duties have been paid to those States which had gone after leaving Kuwait and the Kuwaiti bank accounts and the lack of access to their accounts in that period and the list goes on other cases for compensation .
Immunity Iraqi funds
We must note that these resolutions Iraqi funds granted immunity similar to the immunity of assessments for the United Nations funds which must be observed when the withdrawal from the provisions of Chapter VII and here they stress the custodianship of the Security Council mandate in this regard requires a new Security Council resolution that provides money to Resolution on Immunity for survival and continuity of the Iraqi funds in anticipation of the takeover by the claim of overdue debts from Iraq or financial claims of companies or countries for the debts of previous day 1990/8/2 or after that date were not covered by the compensation Security Council resolutions above international debt and companies during the Iraqi-Iranian war, or linked to the former regime after the end of the occupation of Kuwait in 1991/3/2 also note that there are financial claims in the U.S. of existing funds which have been granted immunity to these funds by order of U.S. President executive (decree) Excutive order is the Bible These claims are establishing a law firm in America, where claimed an estimated number of billions to victims of abuse in 2001/9/11 on the basis that one book Iraqis, whose name (....) published an article in the newspaper of Nasiriyah on 2001/7/21 have included these Article in the ignition of a target on 2001/9/11 goals as the places mentioned in the article are the same places that have been Alaatdaealiha There are many claims and lawsuits, most lawsuits malicious intent of affecting the Iraqi government, therefore, the new American Convention Iraq must take into account the continuing immunity of Iraqi funds Particularly that of the U.S. president the power constitutionally.
www.alsabaah.com
Arabic..
http://www.alsabaah.com/paper.php?so...page&sid=65083
Obama?....saying something stupid?.....like 57 states....LMAO
ok....once again, how do you raise the value of the dinar by lopping zeros? I read it as raising the zero's off the value
not the note(keep in mind they are held to a program rate by the IMF).
If they was going to lop their currency, why did they not do it
before now?
Why would they change currency(with the best security features comparable to any in the world) so close to changing to a combined gulf state currency?
Aero you just come here to argue and thats fine...but no one is buying the crap your selling, so go ahead and pat yourself on the back.......
posted yesterday....but still can't see a lop, interpret as you will.....
Low level of inflation in Iraq during 2007 and attempts to delete zeroes from the Iraqi dinar
The adviser Central Bank Governor, the appearance of Muhammad Salih, a decline in annual inflation rate in Iraq to 14% over the past year 2007, compared with annual inflation recorded in 2006, which reached a rate of 77%, according to statistics of the Central Bank to measure inflation, pointing to the bank sought Central to raise the number of zeroes of Iraqi dinars.
Saleh said in an interview with "Uzmatik", "The real estate rents, transportation, a component of President indicator of inflation, the basis for calculating rates of inflation in the Central Bank in accordance with the policy of spending which the bank is responsible."
He added that one of the main reasons for high inflation in Iraq, was the high prices of oil derivatives in addition to a shortage in supply, and said that "the prices of oil derivatives Amendment, the latest shock and one of inflation, but fuel shortages from time to time, causing shocks continuing" as he put it.
Saleh pointed out that due to low inflation central bank decided to reduce the rate of interest at banks governmental organizations from 17% to 16%, having shown a decline in the inflation rate, stressing that raising interest rates in the bank, is one of the monetary policies which led to a reduction in inflation In Iraq.
On the other hand, revealed adviser Central Bank Governor "sought to delete the bank and raising the number of zeroes for the future Iraqi dinars, after the Iraqi dinar rose to 20%" He refused to identify the roof of a timetable for lifting these zeroes, but he indicated at the same time that " This will lift the zeroes are rational, reflects well on the Iraqi society and without negative impact upon "as he put it.
Saleh said that "raise the value of Iraqi dinar, depends on the level of inflation for central bank reserves of foreign currency," which he described as "large for the time being," declining to disclose the amount of these reserves.
The adviser Central Bank Governor, the appearance of Muhammad Salih, in his talk of "Uzmatik" that "the process of lifting the value of Iraqi dinar, will not stop as long as there is a chance to improve its value" as he put it.
It is noteworthy that the Central Bank of Iraq, which had been lifted in 2006 and 2007, the interest rate to cope with the sharp imbalance in prices then, reaching a maximum annual benefit beginning in 2007, to 20 per cent annually.
http://translate.google.co.uk/translate?u=http%3A%2F%2Firaqalaan.com%2F&sl=ar&tl=en&hl=en&ie=UTF-8
Low level of inflation in Iraq during 2007 and attempts to delete zeroes from the Iraqi dinar
The adviser Central Bank Governor, the appearance of Muhammad Salih, a decline in annual inflation rate in Iraq to 14% over the past year 2007, compared with annual inflation recorded in 2006, which reached a rate of 77%, according to statistics of the Central Bank to measure inflation, pointing to the bank sought Central to raise the number of zeroes of Iraqi dinars.
Saleh said in an interview with "Uzmatik", "The real estate rents, transportation, a component of President indicator of inflation, the basis for calculating rates of inflation in the Central Bank in accordance with the policy of spending which the bank is responsible."
He added that one of the main reasons for high inflation in Iraq, was the high prices of oil derivatives in addition to a shortage in supply, and said that "the prices of oil derivatives Amendment, the latest shock and one of inflation, but fuel shortages from time to time, causing shocks continuing" as he put it.
Saleh pointed out that due to low inflation central bank decided to reduce the rate of interest at banks governmental organizations from 17% to 16%, having shown a decline in the inflation rate, stressing that raising interest rates in the bank, is one of the monetary policies which led to a reduction in inflation In Iraq.
On the other hand, revealed adviser Central Bank Governor "sought to delete the bank and raising the number of zeroes for the future Iraqi dinars, after the Iraqi dinar rose to 20%" He refused to identify the roof of a timetable for lifting these zeroes, but he indicated at the same time that " This will lift the zeroes are rational, reflects well on the Iraqi society and without negative impact upon "as he put it.
Saleh said that "raise the value of Iraqi dinar, depends on the level of inflation for central bank reserves of foreign currency," which he described as "large for the time being," declining to disclose the amount of these reserves.
The adviser Central Bank Governor, the appearance of Muhammad Salih, in his talk of "Uzmatik" that "the process of lifting the value of Iraqi dinar, will not stop as long as there is a chance to improve its value" as he put it.
It is noteworthy that the Central Bank of Iraq, which had been lifted in 2006 and 2007, the interest rate to cope with the sharp imbalance in prices then, reaching a maximum annual benefit beginning in 2007, to 20 per cent annually.
http://translate.google.co.uk/translate?u=http%3A%2F%2Firaqalaan.com%2F&sl=ar&tl=en&hl=en&ie=UTF-8
The dinar has been held to a program rate as per the IMF, look at Vietnam ,China ,Malaysia and numerous other countries....all are about to raise the value if their currency.
May 20, 2008
Notice: Continuation of the National Emergency with Respect to the Stabilization of Iraq
On May 22, 2003, by Executive Order 13303, I declared a national emergency protecting the Development Fund for Iraq and certain other property in which Iraq has an interest, pursuant to the International Emergency Economic Powers Act (50 U.S.C. 1701-1706) (IEEPA). I took this action to deal with the unusual and extraordinary threat to the national security and foreign policy of the United States posed by obstacles to the orderly reconstruction of Iraq, the restoration and maintenance of peace and security in the country, and the development of political, administrative, and economic institutions in Iraq.
In Executive Order 13315 of August 28, 2003, Executive Order 13350 of July 29, 2004, Executive Order 13364 of November 29, 2004, and Executive Order 13438 of July 17, 2007, I modified the scope of the national emergency declared in Executive Order 13303 and amended the steps taken pursuant to it.
Because the obstacles to the orderly reconstruction of Iraq, the restoration and maintenance of peace and security in the country, and the development of political, administrative, and economic institutions in Iraq continue to pose an unusual and extraordinary threat to the national security and foreign policy of the United States, the national emergency declared on May 22, 2003, and the measures adopted on that date, August 28, 2003, July 29, 2004, November 29, 2004, and July 17, 2007, to deal with that emergency must continue in effect beyond May 22, 2008. Therefore, in accordance with section 202(d) of the National Emergencies Act (50 U.S.C. 1622(d)), I am continuing for 1 year the national emergency with respect to the stabilization of Iraq.
This notice shall be published in the Federal Register and transmitted to the Congress.
GEORGE W. BUSH THE WHITE HOUSE,
May 20, 2008.
http://www.whitehouse.gov/news/relea...0080520-9.html
think that the HCL is tied with Article 7&8....presently all oil profits go into the DFI (Development Fund).
noticed the same signature elsewhere also.....lol
that combined with good old fashion incompetence.......
Mornin Rick......sounds like you need to go for a ride, I debating about riding or working on bikes today......hmmmmmm
going riding.........lol
I've seen that article or one like it before.....lol, thinking last year....believe we will be seeing a lot of things getting accomplished in short order due to the funding getting cut off.
anybody thinking simutanious RV here?....seems likely to prevent double-dipping IMO.
been dropping to 1175 several times in the last couple of weeks on Market Browser also......but it doesn't really matter till the CBI reports it as that.
Bush is speakin on Fox right now......hope for some good news.
I heard it was because he was being paid in dinar.....
OMG....the men in black are back........anybody see any
unmarked helicopters?
got a 48 FL
does that translate to Aerospace?
Remember it well......haven't heard the term white gas since I was a kid.....lol