[BondLady] ok now moving on to the next thing let me grab it, while im at it, i had another piece to the hcl puzzle
[BondLady] Member of the Commission on oil and energy: oil and gas law will be approved in the next legislative term 12/12/2012 Khandan - announced a member of the Oil and Energy Committee in the Iraqi Council of Representatives,
the coming days will witness the movements of the committee to reach a draft oil and gas law and approved in the next legislative term, because the end of the current chapter will see preoccupation budget for fiscal "2013."
said committee member MP the Supreme Council Furat al-Shara told the "Khandan": that reached choose the draft law of oil and gas needed to hold a session dedicated to the oil and gas committee to agree on the points of contention, explaining: that after concerns many budget federal witness coming days mobility within the Commission to reach a agreement on a formula law, passed in the next legislative term of the Council of Representatives.
Read More Link On Right
said Shara, that the Committee of Five, which was formed from the legislative and executive branches, to reach a selection of one of the drafts of the law, held two meetings, did not announce the end of its work or its mandated. http://xendan.org/arabic/drejaA.aspx?=hewal&jmara=10064&Jor=2
[BondLady] ok 1st while we're disucussing chapter 7 still i've asked shredd to talk about Un chapter 6 and article 14 of the IMFas well and then we will turn this part of the chat over to shredd
[tlm724] 12/11/2012 Mubarak: We support lifting of international sanctions on Iraq BAGHDAD - morning demanded Baghdad officially move to Chapter VI of the Charter of the United Nations after the fulfillment of all obligations. comes at a time announced the Kuwaiti Prime Minister Jaber Mubarak Al-Hamad Al-Sabah his government was ready to help Iraq out of Chapter VII.
said blessed in a press statement to "forward towards positive steps concrete during his upcoming visit to the Republic of Iraq brother especially with regard to domain Economic and closure of outstanding issues," explaining that "no guilt for our future generations acts and crimes committed by the regime bloody earlier at an earlier stage we seek to overcome."
He expressed blessed "willingness to cooperate the new government in all that would remove Iraq from Chapter VII according frameworks diplomacy and international resolutions issued by the UN", estimated at the same time "efforts by the Iraqi government to cooperate in order to achieve this goal."
And revealed the Kuwaiti Prime Minister for "Center Brief for the Iraqi Media Network," the week before last, went Iraq and Kuwait to sign bilateral agreements task between the two countries this month, saying: "
I have visited Iraq this month, and will send the visit an important message that that Kuwait did not have any problems with the Iraqi people but was with the former regime has gone, "he" should forget the past and embark on a wide space, and our duty to forget the past and look to the future, and there is no other way but to join forces between the two countries and the two peoples brothers.
"is due to be holding talks" significant "between Prime Minister Nouri al-Maliki and blessed. expected that yielded the talks between the two sides for closing files stuck years ago, paving to remove Iraq from Chapter VII. in the meantime, he met Foreign Minister Hoshyar Zebari in the headquarters of the ministry ambassadors of the five permanent members of the Security Council accredited Iraq. reviewed Zeb
[tlm724] called ambassadors of the five permanent members to support Iraq's request to get out of the provisions of Chapter VII for the termination of the mandate of the Special Coordinator for missing Kuwaiti property and transfer the file of Chapter VII to Chapter VI.
Shredd] yes, and Miss T, you had some definitions of these in our email, do you think you could paste those excerpts?
[Shredd] while Miss T is grabbing that, keep in mind these statements are made outside of a scheduled session ,just the format of this statement and the weight of it is super and with the upcoming UN session, great timing
[tlm724] The Charter of the United Nations CHAPTER VI: PACIFIC SETTLEMENT OF DISPUTES Article 33 The parties to any dispute, the continuance of which is likely to endanger the maintenance of international peace and security, shall, first of all, seek a solution by negotiation, enquiry, mediation, conciliation, arbitration, judicial settlement, resort to regional agencies or arrangements, or other peaceful means of their own choice.
The Security Council shall, when it deems necessary, call upon the parties to settle their dispute by such means. Article 34 The Security Council may investigate any dispute, or any situation which might lead to international friction or give rise to a dispute, in order to determine whether the continuance of the dispute or situation is likely to endanger the maintenance of international peace and security.
[Shredd] so as you read this above, you can see the thesis of the disputes under VII have to be settled to move on to VI
and we know what the list behind VII is, right? and we see that there is resolution to the point of not endangering the ongoing progress as far as peace and security so, this move is monumental, Bondlady has done so many chats on this
what is outstanding under VII and moving from thi chapter to VI is the opening act for what we all have been waiting on
tlm724] ok this is article 14 of the IMF
[tlm724] Article XIV: Transitional Arrangements Section 1. Notification to the Fund Each member shall notify the Fund whether it intends to avail itself of the transitional arrangements in Section 2 of this Article, or whether it is prepared to accept the obligations of Article VIII, Sections 2, 3, and 4.
A member availing itself of the transitional arrangements shall notify the Fund as soon thereafter as it is prepared to accept these obligations.
Section 2. Exchange restrictions A member that has notified the Fund that it intends to avail itself of transitional arrangements under this provision may, notwithstanding the provisions of any other articles of this Agreement, maintain and adapt to changing circumstances the restrictions on payments and transfers for current international transactions that were in effect on the date on which it became a member.
Members shall, however, have continuous regard in their foreign exchange policies to the purposes of the Fund, and, as soon as conditions permit, they shall take all possible measures to develop such commercial and financial arrangements with other members as will facilitate international payments and the promotion of a stable system of exchange rates.
In particular, members shall withdraw restrictions maintained under this Section as soon as they are satisfied that they will be able, in the absence of such restrictions, to settle their balance of payments in a manner which will not unduly encumber their access to the general resources of the Fund.
Shredd] you all probably see the key line in this
[Shredd] Members shall, however, have continuous regard in their foreign exchange policies to the purposes of the Fund, and, as soon as conditions permit, they shall take all possible measures to develop such commercial and financial arrangements with other members as will facilitate international payments and the promotion of a stable system of exchange rates.
[Shredd] so, for those of you who have been on with us for the chats we've done around the banking and investment laws do you see how this fits in to the big picture we are painting for you? a stable system of exchange rates,the word stable and Iraq have not fit together very well in the past right but we've been spelling out to you what the global investment world is looking for stability which means regulation, safety, protection, and the promise of return right?
[Shredd] so tyvm Miss T (timmy lol) for bringing in these definitions and be sure to follow the links for those to read the exhaustive language, but again, so many peeps in this investment have tunnell vision looking at the gurus and the date and rate stuff but when you piece all of this together like we have here it fits....pieces of the puzzle,a stable system of exchange rates has so much represented behind a country and what it has done to pull itself from the ruins of war and dictatorship
so a sovereign nation, a stable currency,an emerging powerhouse,ty Bondlady
[BondLady] tyvm,awsome job an great team work ty both,ok now lets move on to some more things
[BondLady] keeping in mind that everything we're discussing all goes together in one way or another,they are all pieces of this whole puzzle we call our investment and without anyone of these things we can't hope to achieve our wants in all this and we are watching all things come to life and i am so excited about all these events and you all should be too, now let me bring in some other articles as we move into the banking parts of this chat , in our last chat we did i talked a little bit about a rumor/intel
about the new money supposedly was printed at the 1st of november and was shipped in the last part of november, most know i usually will never do that but as our research took us to many parts of the world, i found there was a great possibility of some truth to this and we shared a small portion of what we knew and all this week and last we've saw the cbi and the new proxy gov or whatever you want to call him in shabibis absence,making monetary changes and laws getting passed with the blessings of the gov.
as there was much bad blood between the gov and shabibi,when we 1st heard of the arrest warrents put out on shabibi we found it just too hard to believe and i had to make extensive calls to verify that and get foreign opinons on why which i told you all about
,many had said they didn't like shabibis policy that he was set to go to slow on making the dinar worth more or was going to go lower than there expectations or possibly just rd or lop and from the ones i spoke too the majority said they believd that when the 000 's came off the currency the currency would go back to what it was before they were put on restrictions,
the new cbi/gov has a good working relationship with the government and they have been saying yes to just about everything he has said and hey if its gonna bring on our rv faster than when shabibi had the reigns then i'm all for it and we can all move on with our lives
Raise The Price Of The Iraqi Dinar Against The Dollar As Possible BAGHDAD - Iraq News Network: parliamentary Finance Committee confirmed on Thursday that the situation of the Iraqi dinar against the U.S. dollar is stable, noting that raise the price against the dollar was possible.
A member of the Finance Committee secretary Hadi said that "the central bank administered by the new managed to control the situation and stabilize the exchange rate after witnessed tension during the crisis raised against the previous administration and suspicions of corruption that kept the bank governor and his deputy and a group of employees, but the situation this period has become more stable. "
He added that "the central bank governor received authorization to raise the price of the dinar safety of the dollar due to the fact that the option mentioned possible at the present time as well as the presence of the bank's intentions to raise the value of the Iraqi dinar long as previous years have seen a rise in value against the dollar."
He pointed out that "the central bank governor will have the option under this authorization in choosing the appropriate time to raise the price of the dinar and it will determine when and how this step is done based on his experience in his field. LINK NOT WORKING
[BondLady] is that just not an awesome lil news read,the gov is giving their blessing to the cbi to raise the dinar exchange rate and to do it when he sees fit too, do it their all good with it,now what have i always taught you? never forget what drives them......
power and greed and as i've said many times in the past ...sadly enough knowing that greed would probably be of benefit to us as investors and it is kinda looking like that holds water we just don't know to what extent............YET
CENTRAL BANK OF IRAQ LAUNCHES MECHANISM TO SUPPORT LOCAL BANKS Iraq, December 13, 2012 The Central Bank of Iraq decided to include a number of local banks in the foreign currency auction and increase the financial shares granted to the banking companies.
A statement by the CBI cited “Within the framework of the CBI’s efforts to develop its monetary policy and support the national economy, the managing council of the Bank took many measures including attracting several local banks through opening the bonds and financing them by the CBI according to specific mechanism set for this purpose in addition to allow these banks to take part in the currency auction.”
“It was also decided to grant the governor of the CBI power to decrease the US dollar price which is IQD 1179 for one dollar as an enhancement to the cost of the Iraqi dinar according to the requirements of the market,” the statement concluded http://www.iraqdailyjournal.com/story-z6834408
[BondLady] shredd do u have any thing to add so far?
[Shredd] well, not really except to agree that it is so great to see that Turki is moving on and has overcome the drama of the removal of shabbs and has his blessing
it's in black and white, on the above article...we see here that the bank took measures including attracting several local banks through the opening of bonds and financing them that's the basis of financing folks so everyone's at the table and the appetizer is being served
[BondLady] heres another article pertaining to the above....where it talks about lines of credit and that the cbi will back this event with a few banks at first to see how it goes and if its successful then he will bring in more banks and do the same thing and let iraq establish not only credit and also will help them with there international credit scores but also paves way for the infrastructure law which is all about paying on credit
[BondLady] Central Bank authorizes the governor to reduce the dollar exchange rate to enhance the value of the dinar Wednesday, 12 January 1 / December 2012 10:57 [Baghdad - where] Iraqi central bank decided to cover a number of private banks Bmzadeh public for the sale of foreign currency and increase the financial stake of the auction granted to the exchange companies and authorize the Governor of the Bank to reduce the price of the dollar against the Iraqi dinar.
A statement from the Bank received the agency all of Iraq [where] a copy of it on Wednesday, "that as part of the keenness and the pursuit of the Iraqi Central Bank in the development of his tools in the monetary policy and support the national economy stable market took the Board of Directors of this bank are many decisions which "encourage Iraqi banks [Baghdad, and credit, and Mansour] as a first stage and later include all licensed banks to open letters of credit and funded by the Central Bank of Iraq in accordance with the mechanism designed for this purpose, in addition to the continuation of these banks in the entry window sale of foreign currency, currency auction. "
The House of Representatives form a parliamentary committee headed by First Deputy President of the Council Qusay al-Suhail to investigate the process of money laundering in the Central Bank and the charges of corruption and officials' involvement dollar purchases in the currency auction.
The cabinet decided earlier mandated Chairman of the Board of Supreme Audit Abdul Basit Turki Department of the Central Bank of Iraq to succeed former Governor Sinan al-Shabibi. The [where] published on 19 November last secret document relating to the special report prepared by the parliamentary Allganh responsible for monitoring the central bank policy and the exchange rates of the dollar and the auction.
And requests the President of the House of Representatives Osama Najafi in this document by the President of the Integrity Commission to open an investigation detailed and high level of professionalism, on condition of allowing leaking of the report and investigation procedures by the Commission to the media and political parties.
[BondLady] now this cbi gov is doing a lot of changes and shabibi isn't happy about it, shabs says that its the wrong monetary policy for iraq he says his is right
and if it was true shabibi wanted to slow grow like he had been doing all these years and the rest of them says basically he was moving too slow ,, more slower than they wanted to go. then a lot is making sense here
[BondLady] The CBI site has a new announcement on the arabic side dated 12/11/2012, it is in arabic and I cannot translate. Here is the link
Headline: News & announcements-2012 Press release about the Bank's Management Council adopted several resolutions under caution and the CBI has sought to develop tools in monetary policy and support the national market economy 2012/12/11
Shabibi: Permit the new central bank governor to reduce the sale price of the dollar is wrong Author: HM Editor: CC Thursday 13 k 1 2012 11:30 GMT Former central bank governor Sinan al-Shabibi Alsumaria News / Baghdad regarded former central bank governor issued an arrest warrant Shabibi,
Thursday, a resolution authorizing the new governor the power to reduce the sale price of the dollar, "wrong", stressing that this economic decision, as he emphasized that the authority of the Board of Directors higher than the authority of the province.
Shabibi said in an interview for "Alsumaria News", "Central Bank's decision last judge authorizing governor new power to reduce the sale price of the dollar is wrong,"
asserting that "the decision to reduce the dollar economic and not administratively." and authorized the Central Bank of Iraq, in December 11 ongoing , governor validity reduce the sale price of the dollar and of the present 1179 dinars to the dollar, in a move designed to enhance the value of the dinar based on market demands.
stressed Shabibi "the need to study issues related to monetary policy, including reducing the price of the dollar, as well as follow-up of prices and inflation accurately, must also take into consideration the price developments and exchange rate in local markets ", pointing out that it" may not give these powers to one person in a day and a night to decide what he wants.
He Shabibi that "the bank's board is to decide this policy after carefully studied as the body High in the Central Bank and not the governor. " was Shabibi threatened, Wednesday, resort to "all means" if not resolved his case in Iraq, stressing that it was exceeded immunity bank in the country.
and Prime Minister Nuri al-Maliki, in the (November 5, 2012) , that heads a large fall in the issue of the central bank, pointing out that he is not acting funds Iraqi, but had no information on the size or the location of the deposit.
referred to the Supreme Judicial Council confirmed, in (19 last October), the issuance of an arrest warrant against the central bank governor and a number of officials in corruption cases. noteworthy that the Iraqi Central Bank was established under the law issued on the sixth of March of the year 2004, as an independent body and is responsible for maintaining price stability and the implementation of monetary policy,
including exchange rate policies and management of foreign reserves and the issuance of currency management, Add to regulate the banking sector to promote a competitive financial system and independently
[BondLady] see what i'm saying? shabibi has done a totally awesome job all these years of keeping iraqs economy safe and inflation in check but its always been at a slow growth pace and for the last 3 years the cbi and the gov have had bad blood...
so if the new gov or proxy gov can get us in and out of this investment faster then i'm all for it, and its been a long long time coming for us and for iraq, although i believe shabibi is innocent and above reproach and a honorable man in everyway, i'm tending to believe that he was totally slow grow
Economist: Hbibi entitled to resort to the United Nations if it does not solve the problem internally Date: Thursday, 13/12/2012 05:08 pm Bank Governor article: There lawyers pursuing cases citizen –
Alaa Fadel still cause the central bank react and accommodate them to take on an international dimension as likely an economist to reach its repercussions to the International Monetary Fund at a time threatened Bank Governor Sinan al-Shabibi Wednesday, resorting to «all means»
If you do not solve his case within the country, saying that the immunity of the bank has been exceeded in Iraq. said economic expert Hilal Taan's (citizen): »
The CBI linked Besndq International Monetary therefore entitled to bank governor to resort to the United Nations if not solved his problem internally». added » that the right of the Development Fund for Iraq intervention this side ». explaining» that fund Iraq form in 2003 to save the Iraqi funds from international piracy ».
stressing» he is entitled to this fund intervention issues central bank as long as Iraq under Chapter VII ». likely» reaction this issue and its implications for up to the International Monetary Fund, the UN ».
of said central bank governor article Shabibi in a press statement», that «there lawyers pursuing cases», pointing out that «the central bank has immunity in his work and in accordance with Article 23 of the Central Bank Law , and that this immunity is not in the bank only, but in the central banks in general ».
stressed Shabibi it« has been exceeded this immunity with us and went to the extent arrests », threatening b» resorting to all means if not resolved the issue within the country, and we felt no justice and the type of impact on the bank's reputation.
Shabibi was recently confirmed, that he will return to Iraq to defend the central bank to maintain economic stability. http://almowatennews.com/news.php?action=view&id=53087
[BondLady] he has a right to be mad, his reputation was and always had been above reproach and i believe he still is, but again as i said, the people didn't feel he was moving fast enough IMO and that also IMO they didn't approve of his monetary policy he had been set to do and the government would never give him their blessings to do so, but as you see the cbi gov sitting in has all their blessings and passed the laws they wouldn't for shabibi but did for this mr turki now controlling the cbi
[BondLady] and again from my conversations with others the iraqis believed when the 000's came off it was back to being able to enjoy a good and prosperous life and have greater spending power...more bang for there buck (dinar)
[BondLady] any thing you want to add shredd before i move us to the final read ?
[Shredd] the part of Shabbs not moving fast enough doesn't that fit right in with what we've been showing you? the pace has picked up ,the foundation has been laid and imo, most of this year, shabbs has been getting more and more pressure and like Bondlady says, if his cautious pace was not good enough and the impatience of Maliki and co wanted to remove the delay then so be it for me
[BondLady] fine by me too
[Shredd] now, shabbs is smart and is highly regarded so, as a wise economist he is conservative mitigating risk at all angles
[BondLady] i want my money and i want it now just like they do, 10 yrs is a long time for them to wait and for us
[Shredd] right but also in economics high risk equals high reward so hopefully that will hold true here, i believe it will too many powers pushing this
[BondLady] they have accomplished huge things this year and they have accepted many many high dollar contracts thats going to make all these countries and iraq a ton of money and also rebuild iraq better and bigger and newer than ever before, the oil boom has hit iraq and money will be flowing everywhere, i don't think slow grow would have done it not at the rate iraq is expanding
[Shredd] Dubai part 2
[BondLady] and again iraq is their own worst enemy too they have fought since the beginning and they will still fight in the end we can't change that, its in their dna to be that way and its how they settle things even if its through blood shed, so this brings us to the end and the last article i had to show you all, the rumor i spoke of earlier, player46 our administrator and newshound as you know her and a fine one at that...found this article last night and posted it
[BondLady] Of cases of financial corruption ... Storage 7 trucks for the new coin in the central bank since 2005 A source familiar that issues of financial corruption too many in the Central Bank Governor Sinan al-Shabibi,
the source told Voice of the Iraqi community, said the bank had a deal receiving coin new, were received from Safwan in Basra province in 2005, and was composed of 7 trucks filled coin, which could reach billions, were received that money, but when you get to the city of Baghdad, have been attacking trucks by terrorists, and after the battle claimed the lives of three members of protection they both cream and Fred and judgments Mandalawi, and seized terrorists on three trucks from seven .
After investigation and not use the currency, gang were arrested and three trucks responded to the central bank, and added to the four trucks and such money remained up to this moment in the warehouses of the Central Bank were not used in Iraq.
The source said that the coin-class fifty dinars and a hundred and fifty dinars, and wondered how much money went to the work of this currency, and did not benefit the Iraqi people http://www.iraaqi.com/news.php?id=1309&news=1#.UMkeE-PjnYE
[Shredd] "and such money remained up to this moment in the warehouses of the Central Bank were not used in Iraq", up to this moment
[BondLady] will they release the new money soon or hold it longer and risk terrorist or criminals hijacking it or stealing from it and losing out on the millons of dollars it cost to print it by theft and robbing the people of it, will they ? ... i think they are about too IMO and i feel like we have some great things about to happen for iraq and for us
the news just gets better and better everyday now that the cbi and the gov are working together and soon we shall see article 140 done and the hcl as well and that will hopefully take us and them on out of ch 7 ,so in closing i thank all my team for the countless hours they have given to each of us and all the research it takes to do one of our massive chats... i hope you all understand and enjoy our work we do for you here at our corner.... ty all