May 18, 2012

News About Iraqi Dinar

Iraqi Dinar Exchange Rate

Currency Exchange News

* New IQD Site Announcement: www.theGETteam.com

All,

I wish to announce the new site where you can read the posts of “The Three Amigos”.  You may also know them at G.E.T (Gankans, Enorrste, and TerryK).

They have parted ways, as was posted yesterday, with Currency Chatter.  They have created their own site, and you can find their postings at the following URL:  www.theGETteam.com

Their URL will also be posted on the “Resources” page of this site along with all the other Iraqi Dinar Forums and Sites.

Their posts will continue to be posted here as well for all to reference.  I wish them the best in their efforts to follow this investment and share what they know.

Dinar Daddy

* Leadership in the State of Law: A Breakthrough Initiative to Form a Government Will Be Announced Soon, the National Coalition

Stressed the leadership of the coalition of the rule of law Qassim Attiya Jubouri that there is a sign of hope for easing the crisis will be announced by the National Coalition and produce the formation of a national government before the end of a period of two weeks.

Jubouri said in a telephone conversation with (Iraqi News Agency Information / INA) that the period after the parliament session without reaching to the formation of a national partnership will see Iraq’s political crisis, a large and complex will be negative outcome for everyone.

Indicating that the political landscape is currently complex and political blocs are at a standstill because everybody can assert a claim and Bchksyate Aibdoa and that there are signs of easing of this crisis.

He is likely to be Buadrhal crisis and through the Iraqi National Coalition in the coming days, where There was a discussion determined to nominate a candidate to form a national coalition government during the coming period will thaw the remaining issues in the case of a breakthrough this crisis will be reached to form a government during the remaining period to the next session of parliament.

He said in either case that the subject of prime minister in the Iraqi National Coalition, things will worsen and become the political landscape more complicated and will live in Iraq, a constitutional vacuum and political great and will have a crisis to great consequences.

Pointing out that the political leadership have the capacity and efficiency and the political will to spare the country of this crisis provided to drift away from external pressures and other influences and are working to Put the interests of the country in its sights under the elections and not look back.

LINK

* Allawi sent a message to Maliki urging him to share the posts of the presidency and parliament with al-Hakim

Wednesday, July 14th, 2010 06:14
BAGHDAD: Ali Naseer London: «Middle East»

Called U.S. Secretary of State Hillary Clinton yesterday to «further efforts by all those involved» to form a government in Iraq, said leaders in the Iraqi List, led by former Iraqi Prime Minister Iyad Allawi, and others in the national coalition led by Ammar al-Hakim, they’re still waiting for a response from the Prime Minister’s outgoing Nuri al-Maliki sent two letters separately with the understanding on the formation of the Iraqi government.

Clinton said in a press statement made by a stand by the Iraqi Foreign Minister Hoshyar Zebari: «there must be more efforts by all those involved» the formation of the Iraqi government.

. Clinton stressed that it is not the United States «preferences» it «feel the need to speed up» in the formation of the government, as reported by Agence France-Presse.

Zebari also discussed the existence of «feeling the need to accelerate», but it is expressed at the same time «confidence» that the government will.

The new Iraqi parliament postponed the day before yesterday, for two weeks, a meeting to enable the parties to reach agreement on forming a new government and directed the country’s stifling political crisis taking place.

The crisis seems to be the formation of the Iraqi government over the past 24 hours as if hanging on the responses to the letters, which al-Maliki sent by him.

The leading figure in the list Aldenbos Adnan, told «Middle East» The message sent by Allawi to Maliki were not written but I have included some of the items that the list of Iraq waiting for a response by the latter.

He stressed that «most of the items include conversations that took place during the recent negotiations with the state law (Maliki’s coalition), and we sent the letter because the (Iraqi) can not continue negotiations futile and vain»,

adding: «We believe that the political process going through a rough time and overcome the Constitution and Takrijat illegal continuation of the process to derail the government and is not in the interest of the country and the Iraqis who are waiting for the government and seems it will not come to light soon, because of the blocks nominees without considering the public interest, here called on all the blocks to involve everyone in the formation of the government to cooperate with us ».

Maliki insists the coalition with any block on the post of prime minister, Allawi also insist on the same position as the top results achieved in the parliamentary elections which took place on the seventh of March (March) last year.

The Aldenbos that «the (Iraqi) is still constitutionally is the first and even the Court’s interpretation still up for grabs for the selection of a specific candidate, and this struggle for power there, and here we send this letter and offered the Maliki office of President of the Republic, the presidency of the other (excluding Ministers)».

He denied Aldenbos stalled negotiations between «Iraq» and «rule of law» and said: «Everybody knows that the problem is centered over the position of prime minister and when waive any of the parties, be resolved quickly».

For his part, told «Middle East» source close to the leader of «Iraq» on condition of anonymity, that the message sent by the al-Maliki include several items, including «the right of the (Iraqi) constitutional formation of the government and the other blocks the acceptance of this right, and forming a government with the participation of everyone, this requirement came after the receipt of information indicating the possibility of excluding figures many animosities personal », adding that« the third item is a division of the posts of Prime Parliament and of the Republic between the State Law and the National Coalition (a coalition-Hakim), and another request for the government program and government policy that must be adjusted, and stay away from quotas and to improve relations with neighboring countries and the fight against corruption and the promotion rate services ».

The source pointed out that negotiations between the «Iraq» and «the rule of law» has recently stalled due to religious rites and the death of Lebanese Shiite authority Hassan Fadlallah, adding that «the negotiations with the United Iraqi Alliance also continues, and the (Iraqi) looked Hakim negotiations with Maliki is the first first for being a partner essential, including historical relations ».

The sources had talked about that Maliki may have been required for an alliance with the «Iraq» Hakim coalition excluding the Sadrists in particular for government formation.

The Al-Awadi, a spokesman for the Islamic Supreme Council of Iraq, led by al-Hakim, has announced the halt talks with Maliki and that «is not only the National Coalition does not want to give al-Maliki as prime minister for a second term, but Iraqi Kurdistan and also».

Al-Awadi said in remarks carried by the website of the Supreme Council, that «meetings had been suspended after the failure of the coalitions to agree on mechanisms to select Prime Minister».

He indicated that he «will be resumed if a response is received the rule of law to the letter sent to them where we want them to provide more than one candidate for the post of Prime Minister».

For his part, the leader of the rule of law, Abbas al-Bayati told «Middle East» that «such messages did not respond officially, but talk about it came in the media and the press did not receive any message from any party dealing with the formation of the government», he added: «We have a productive dialogue with everyone and directly there is no reason to send messages or receipt of the fact that the dialogues have not interrupted ».

Response to the statement of a member of the coalition that rejected the nomination of Maliki for not Qpolith locally and regionally, Bayati said:

«This claim can not be proven, there is no rejection of the owners did not inform the official meetings-Maliki’s refusal, but this is part of the political debate», adding that «admissibility must be an Iraqi national, not regional, Maliki received the highest number of votes in the last election and we have good relations with most neighboring countries, and we consider the admissibility is relatively Tribal by and be rejected by another and no one has the admissibility of a comprehensive national, regional and international ».

In response to the statement by Iraqi Alliance, which called for a emergency session of parliament denouncing the postponement of meetings, saying that «a breach legal», Bayati said, that «the decision to postpone the consent and the consensus of the political blocs in a meeting Parliament Speaker older (Fuad Masum), and any claim that a breach was words should have been said in the meeting came the decision of the national final opportunity to give the forces to come to an agreement first presidential round ».

A number of members of the United Iraqi Alliance met yesterday in the parliament with members of the other blocks, and numbered less than fifty, and decided to convene an emergency meeting and cut postpone parliament.

LINK

* jmt0820 Post: KTF Missions (Conference Call Link)

Go to the following link to be able to listen to the CC. This link will be available until Friday.

CONFERENCE CALL LINK

* 2 Weeks Not Enough to Form New Government

July 14, 2010 – 09:35:12

BAGHDAD / Aswat al-Iraq: A two week time span is not enough time to reach an agreement on the new Iraqi government, before the next session of the country’s Parliament, Sadrist Lawmaker Bahaa al-Aaraji said on Wednesday.

“There are no new results in negotiations between political blocs,” al-Aaraji told Aswat al-Iraq news agency.

He described the negotiations as unserious.

“The Parliament’s next session will be repeatedly postponed unless there is a real patriotic will to solve the problem,” al-Araji said, referring to the current political crisis in Iraq.

Heads of political blocs have agreed to postpone the parliament’s session scheduled for July 13 for two weeks, as the Temporary Speaker of the Iraqi Parliament, Foad Maasom, had announced.

Maasom had said that leaders of political blocs will meanwhile continue their meetings until they agree on what should happen during the session, two weeks from July 13.

He noted that according to the constitution, lawmakers attending the session should select the parliament’s permanent speaker, his two deputies, and the president of Iraq.

Political blocs have so far reached no agreement on who should hold each of these positions.

* Iraqi: There are directions to cancel the election results

Iraq News

July 2010 07:49

Baghdad – UPI - called the Iraqi List led by Iyad Allawi called for re-election that was held on the seventh of March, and the consequences of the abolition, as a coup on democracy and the Constitution. . And saw the consultant list, Dr. Hani Ashour, the nature of the political movement for the four months that have passed on the government revealed the directions to cancel the results and claimed by the indirect, and seek to not go ahead in the future, explaining that the movements of blocks centered about clinging to power and lack of conviction of circulation peacefully within the legitimacy of the election, or put candidates for the settlement of non-recognition of the results, or to deprive the winner of the cluster to form a government. He wondered what it was like turning the results to the figures and papers lying on the shelves only, and why elections were conducted, and for which they have spent hundreds of millions of dollars have been busy with people and the people making sacrifices for? Warning that there are forces seeking to take power or to return Iraq to the dictatorial regime singles. And on what has been said that President Jalal Talabani asked the Federal Supreme Court clarification on the possibility of re-election, said Dr. Ashour: If true this trend and demand, this means that we have entered the virtual coup against democracy.

LINK

* ENORRSTE: “Iraq and the GCC: Membership or What?” (Posted on J4D)

Post: by Enorrste – CC
July 12, 2010 at 8:50 PM

[Fact]

The topic of discussion is the GCC and how or if Iraqis involved with this organization.

What is the GCC and what does it do?

Here is the link:

http://www.answers.com/topic/gulf-co-operation-council

And here is the relevant quote:

A body formed 1981 by sixcountries on the western side of the Persian Gulf (the United Arab Emirates, Bahrain, Saudi Arabia, Oman, Qatar, and Kuwait) for their collective security after theoverthrow of the Shah of Iran followed by the emergence of the Islamic Republicof Iran, the Soviet invasion of Afghanistan, and the launching of the Iraq-Iran War.The vulnerability of the oil facilities of the Gulf states to air and sea attack was exposed by thewar. In the face of these external threats, cooperationwas forged amongst the six for purposes of coordinating defence throughregional collective security.

The main goals of the GCC are: economic integrationtogether with coordinated planning; a cohesive foreign policy towards thenon-Arab world, and a framework for the discussion of Arab affairs;coordination of regional collective security; and educational cooperation andsociocultural understanding among member states. There has been success on eachof these four fronts but the most successful area has been in the field ofeconomic cooperation. 1999 a target was set for members toestablish a customs union by 2005.

A Gulf Rapid Deployment Force with units from each member state, was set up in1984. But with the Iraqi invasion of Kuwait in 1990, it was clear that this RapidDeployment Force could not delay any large-scale assault until help could beorganized for an effective defence.

— Barbara Allen Roberson

We can see now that the GCC wasformed initially for mutual defense reasons. As time went on, however, the GCC evolved into another larger focusinvolving economics, trade, and the goal of a single unified currency.

[Fact]

For those interested in theactual initiating charter of the GCC, follow this link:

http://www.gccsg.org/eng/index.php?action=Sec-Show&ID=1

What is the status of the unified currency goal of the GCC?[Fact]

This link will answer thisquestion clearly.

http://english.peopledaily.com.cn/90001/90777/90854/6843994.html

Here is the relevantquote:

GCC may take years to coin unified Gulf currency December 16, 2009

by Du Jian

Kuwaiti Finance Minister Mustafa Al-Shamali said Tuesday the Gulf CooperationCouncil (GCC)monetary union pact has gone into effect during the 30th GCCleaders’ summit in Kuwait City.

In few remarks to the official KUNA news agency,Al-Shamali said the central bank governors of the GCC would hammer out atimetable for the establishment of a central bank that would ultimately issuethe Gulf currency.

However, leaders of the bloc apparently triedto play down that initiative during their two-day gathering and issued adeclaration without touching upon the currency issue.

Although moved closer toward a euro-style single currency, it may take theoil-exporters years to coordinate and negotiate their stance and monetarypolicies for that end. (Part of the article is removed to shorten the post)

The planned Gulf single currency is unlikely to be launched soon as”sufficient time” is needed for preparations, Al-Shamali said daysbefore the summit.

His view was echoed by the emirate’s Deputy Prime Minister and Foreign MinisterSheikh Mohammad Sabah Al-Salem Al-Sabah, who said after the Kuwaiti Parliamentapproved the agreement that it might take adecade for the full adoption of a single Gulf currency.

As of now, four member states, namely Saudi Arabia, Bahrain, Qatar and Kuwait have ratified the GCC monetary union agreement.

In 2006, Oman shocked the bloc in decision to opt out the initiative,saying it was not ready to meet the preconditions. While the UAE followed suitin May this year to protest against locating the joint central bank in Saudi Arabia.

The pullout of the two, especially the UAE, the Arab world’s largest economyafter Saudi Arabia andhomes to a business hub, cast a shadow over the landmark plan.

GCC Secretary General Abdul Rahman al-Attiyah said before the summit that Oman and UAE “are pioneers in joint Gulf action and alwaystook the lead in implementing resolutions of Gulf summits, so they are alwaysat the center of the common Gulf action.”

However, the two countries were still lingering outside the initiative afterthe two-day summit.

Analysts said the Dubai debt crisis is a negative factor for the UAE to turnaround as the emirate would be reluctant to sit behind the negotiating table amid aweak condition.

Source: Xinhua

Now we see that a unified currencywithin the GCC is not on the immediate horizon.

Is Iraqa member of the GCC? And a relatedquestion: Would the USlike Iraqto be a member of the GCC?

[Fact]

Here is the appropriate link:

http://arabcomment.com/2008/the-gcc-and-iraq-whats-happening/

Thefollowing article is long so I have shortened it to the relevant material.

The GCC and Iraq: What’sHappening?December 22, 2008 – 7:37 am

Member states of the GulfCooperation Council (GCC), led by Bahrain,have declined to offer Iraq animmediate path to membership of the body that carries substantialeconomical and political clout in the region, but the question needs to beasked, does Iraqreally need to be a member of the GCC?

US Defence SecretaryRobert Gates proposed the idea in Manama, Bahrain,last weekend. Addressing the Manama Dialogue, Gates suggested that Iraqshould be included in regional organizations in order to help bolster itsrehabilitation.

“If you look closely at Iraq’seconomic and political potential, about what it can offer the Middle East, you will see that it is in everyone’s strategic interests tosupport the new government and the people of Iraq inwhatever way you can.

“Iraq canonly play a constructive role in this region if it is on an equal footingdiplomatically, which also requires its government to take proactive steps,such as continuing to appoint its own ambassadors,” Gates said.

“Regional engagement alsomeans that Iraqshould be included in regional forums for economic and security cooperation,and considered for membership in Middle Eastorganizations,” he added.

This is not the first time thatthe U.S. has sought to tie Iraq to the GCC, but this latest call comesat a time when violence is low and the economic opportunities on offer areleading the war torn country to be labeled an ‘emerging market’ like its Gulfneighbours. It also comes on the back of the recently signed agreement thatwill see U.S.force leave the country by the end of 2011, thus removing a significantobstacle to warmer Arab relations with Baghdad. ….

Immediately after Mr. Gates’comments, senior figures from the GCC and member states were quick to dampenany speculation that Iraqwould be asked to join the oil rich group.

GCC Secretary-General AbdulRahman Al Attiyah ruled out expanding the council to include Iraq,saying that such a move needed careful consideration, according to a report onthe UAE based Gulf News website:

“The council as it is has madeseveral achievements, and any option to change it necessitates a cautiousstudy,” Al Attiyah said. “Iraq inits current circumstances and even in normal circumstances is not ready to jointhe council,” he added.

Bahrain daily Gulf Daily Newsreported that the Bahrain Foreign Minister, Shaikh Khalid bin Ahmed Al Khalifa,said whilst there were no immediate plans to include Iraq because theorganization had not yet defined its own internal structure, it might become apossibility in the future.

“There are certain agreementsthat have to be enforced,” Al Khalifa was quoted as saying in the report.

“When the GCC was establishedwe did not restrict its membership to any countries – it is not an exclusiveclub.

“Once the GCC is a completeunit we will allow any of our brothers to come and join.”

Meanwhile an editorial piecein The National, a newspaper sponsored by the government of Abu Dhabi, on Sunday claimed that Mr. Gates’comments were ill-advised, and that the GCC could not accept Iraq asa member state.

So what of Iraq andthe Arab world now? It is unlikely that Gates made his comments without someconsultation with officials in Baghdad,and Iraqi officials understand the political and economic benefits of workingclosely with the Gulf Arab neighbors…..

Although it is hard to seethis plan as a short to medium term reality, especially until thepower-struggle that is inevitable once the U.S.withdraws is played out, Iraq islooking at other ways to integrate economically with the Arab world.

Local press reported recentlythat Iraq is toresume membership of two regional trade bodies, the Federation of GCC Chambersof Commerce and the Arab Sea Port Federation, from which it was expelledfollowing the 1990 invasion of Kuwait…..

As a member of an up andcoming bloc that will hold local political power and international economicinfluence, membership of the GCC would be no bad thing in itself, but a strong,multiethnic and independent Iraqacting as a gateway between the Gulf and the rest of the Arab world would bebetter.

Now this article clearlymakes a distinction between the GCC and the Federations of GCC Chambers ofCommerce.

So our next question is:

What is the FGCCC, and,Is Iraq a member of the FGCCC?

[Fact]

This next link would appear toanswer that question directly.

http/www.iraqdirectory.com/DisplayNews.aspx?id=8695

Iraq restores its membership in GCC

Translatedby IRAQdirectory.com – [3/11/2009]

The Union of Commerce and Industry Chambers for the GulfCooperation Council had agreed on restoring Iraq’smembership in the Union.

According to Oman News Agency reported that theGeneral Secretariat of the Gulf Cooperation Council agreed to restore Iraq’s membership as well as involving of Yemen.

This came at the conclusion of the twenty fourth joint meeting among theofficials of the General Secretariat of Cooperation Council for the heads andmembers of GCC, which was held at Bar al Jasa resort in Muscat.

The Omani minister of Commerce and Industry, Maqbool Bin Ali Bin Sultan haddelivered a speech at the meeting and reviewed the challenges that facing theGulf private sector in the coming period.

[Analysis]

Did you notice the subtle change inwording here? The headline clearlyindicates that Iraqhas “restored its membership in the GCC.”

But we know from question 1 that Iraqwas not a member of the GCC, so how could it “restore” its membership?

The answer lies in the red quote above. We need to see if the Unionof Commerce and Industry Chambers for the Gulf Cooperation Council isin fact the GCC.

What is the difference betweenthe GCC and the FGCCC?

[Fact]

Is the Union ofCommerce and Industry Chambers for the Gulf Cooperation Council related to theGCC?

Here again is the link to theinitiating charter of the GCC:

http/www.gccsg.org/eng/index.php?action=Sec-Show&ID=1

And here is therelevant quote:

Encourage means of cooperation and coordination between the variousprivate sector activities, develop existing cooperation between the memberstates’ Chamber of Commerce and Industry, and encourage themovement within the GCC of workers who are citizens of the memberstates.

[Analysis]

So we see that theChamber of Commerce and Industry is a part of the greater GCC by its owncharter. But it is NOT the GCC itself.

What is the FGCCC?

[Fact]

The following link isthe founding charter of the FGCCC. Therelevant quote follows:

http/www.english.globalarabnetwork.com/GCC/the-federation-of-gcc-chambers-fgccc.html

Themounting feeling for the need of strengthening fraternity bonds andconsolidating steps enhancing economic cooperation among countries sharingcommon characteristics, objectives, and destiny had led to entertaining theidea of establishing a federation comprising the Chambers of commerce, industry,and agriculture in the Arab Gulf states.

Preliminary meetings in October 1976, attended by the federations and chambersof the seven Gulf Arab States, of Kingdom of Bahrain,State of Kuwait, Sultanate of Oman, State of Qatar, Kingdom of Saudi Arabia,United Arab Emirates, and the Republic of Iraq paved the way forestablishing the Federation of the Chambers of Commerce, Industry andAgriculture of the Arab Gulf States (FAGCC ). In October 1979, the Federationwas officially launched and Dammam – Kingdom of Saudi Arabia, was named as the host city . In 1990,and as a result of the Iraqi regime invasion of Kuwait, the Federation’s Council dropped Iraq’s membership and renamed the Federationas The Federation of GCC Chambers ( FGCCC ).

[Analysis]

We see that in fact Iraq was one of the founding members of the FGCCC. Hence the plans to “restore” it to thatorganization now make sense.

Furthermore, we can seethat restoring Iraq to the FGCCC does NOT mean that it is becoming a member of theGCC. However a further look at the FGCCCcharter makes it clear that the FGCCC is a part of the larger GCC.

[Fact]

From the charter here isa short statement that shows this fact:

In order to carry out its mission and achieve its main objectives,the Federation has been pursuing and participating in the following tasks:

1)establishing economic citizenship rights of GCC subjects ,includingthose for work, ownership and investment.

2)encouraging the freedom of movement of national products among GCCstates, without any administrative or custom barriers.

3)exploring areas and opportunities for establishing joint GCC economicprojects. Introducing, promoting and facilitating their creation and treatmentas national projects in all GCC countries.

[Analysis]

So we now see clearlythat the membership of Iraq in the FGCCC is a subset of the greater GCC. We also see that Iraq was originally one of the founding members of the FGCCC but wasNEVER a member of the GCC, which only has 6 members.

Did Iraq restore its membership in the FGCCC as stated that it would?

[Fact]

Once again we have alink:

http/translate.google.com/translate?hl=en&sl=ar&tl=en&u=http/al-iraqnews.net/new/local/29778.html&rurl=translate.google.com

And we have the relevantquote:

Iraq return as a member of theGulf Cooperation Council

August 22, 2009

Iraq return as a member of the Gulf Cooperation Council

Hamdani said in a statement singled out by the reporter News Agency, IraqiInformation / conscious

“During the coming Days there will be a meeting of the Council and therewill be active participation of Share of Iraq Effective for Iraq. It also willalter the decision of the Council’s decision to switch the name of thecooperation of the Council Chambers of the Gulf Cooperation to the chambers ofthe Arabian Gulf, pointing out Iraq’s return,

He pointed out that Iraq’s return as an active member of the Council ofCooperation Council GCC and to restore Iraq to the prospects for returning Iraqto the prospects of Investment business with all countries. ” Tradewith all countries. ”

So we now know that Iraqhas rejoined a trade organization, the FGCCC as an “active member”.

Recent Changes at the GCC

[Fact]

Now on January 20, 2010 wesee possible changes coming quickly at the GCC. Here is the link:

http/www.business24-7.ae/Articles/2010/1/Pages/03012010/01042010_e3673341d59b4c2a98cde28d2bc69ac2.aspx

Here is the relevant quotewith the important information in red:

GCC monetary authority soon.

By Staff Writer on Monday, January 04, 2010

Four Gulf nations will launch their monetaryauthority to set up a joint central bank at the end of February as part of anhistoric pact to create the Middle East’s first currency union, a senior Gulfofficial was quoted as saying yesterday.

Saudi Arabia, Kuwait, Qatar and Bahrain, members of the six-nation Gulf Co-operation Council(GCC), will officially launch their monetary union on January 23 following itsfinal summit approval last month, said Nassir Al Qaoud, GCC’s Deputy AssistantSecretary General for Economic Affairs.

“The monetary union will be enforced on January 23, a month after the fourth ratification document was depositedby the members with the GCC Secretariat,” Qaoud told the Arabic-languagepaper Al Riyadh.

“As for the Gulf Monetary Authority(GMA), which will pave the way for the creation of the GCC central bank, itwill start operating at the end of February,” he said.

Al Riyadh said Qaoud was reacting to newspaper reports that the central banksof the four countries halted lending operations at the beginning of 2010.

“Those reports carried wrong information that the central banks would stoplending at the start of 2010… this process requires several procedures, whichwill be the responsibility of the GMA,” Qaoud said.

“Any way, most central banks in those countries normally do not lend tothe government, which means these reports do not carry any newinformation,” said Qaoud.”

[Analysis]

What are we to make of thisstatement that the “monetary union will be enforced January 23”? Doesn’t this run in the face of what we justshowed, namely that it could be a decade before the monetary union of the GCCtakes place? Yet we see that the GCC hasdecided to move ahead with only 4 of its country members instead of all 6 ofthem. The affect, if any, on therevaluation of the Iraqi dinar has yet to be determined. If this monetary union does come to fruitionthen it is “possible” that the statement about the ECC determining the ERM mayrequire us to reconsider my statements regarding the meaning of the ERM within Iraqalone. I have no problem with thisbecause that is the normal meaning of Exchange Rate Mechanism. It was just that until NOW we didn’t haveseveral countries that MIGHT bring Iraqinto their fold. If that happened then theERM would definitely be required to ensure no radical fluctuations would takeplace.

A more reasoned approachwould be to state simply that it seems highly unlikely that Iraqwould be invited so quickly into this august organization, in spite of the recommendationof Defense Secretary Robert Gates. Therefore this becomes a “wait and see” issue for me.

Summary on Iraqand the GCC

How can we summarize what weknow against the rumors on various sites regarding Iraq’sjoining of the GCC?

The answer to this questionwill clear up an enormous amount of the confusion and hype about the RV beingimminent based on membership in the GCC.

First, Iraq isNOT a member of the GCC. Therefore anystatements made on rumor sites that by becoming a member it would have to RVare spurious and false. Since Iraq isNOT a member it does NOT have to have a recognized currency. This was the argument and it is false.

Second, Iraq IS now arestored member in a trade organization that is a subset of the largerGCC. It is also an “active member”

Third, there is “talk” thatsome want to make Iraq apart of the larger GCC and this has been pushed for several months now by suchpersons as Defense Secretary Robert Gates.

However, even IF the GCCshould eventually make Iraq a“full-fledged” member, we still do not know if Iraqhas to have an internationally recognized currency to become that member. That question will have to wait until it ismore imminent.

Finally, the recent statementthat 4 of the original GCC countries will form a monetary union on January 23does not mean that Iraqwill participate or even be invited to participate. We need to wait to get more information tomake any statement on this issue.

This means that the imminenceof the RV cannot be surmised based on these rumors or the fact that Iraqhas joined the FGCCC.

We are back to ground leveland can dispense with GCC questions, at least for now.

So what about the Exchange RateMechansim (ERM)?

Now this brings us back to the ERMand the fact that the ECC or Electoral Code of Conduct in some way allowed ormade it necessary for the ERM to come into force.

That is what the article abovestated. Yet it makes no sense because Iraq has no relationship now or in the foreseeable future in a“unified currency”.

This leads us to ask ourselvesthis simple question: what else couldthe term ERM mean with reference to Iraq?

I suggest to you all that the term“exchange rate mechanism” can have only one meaning when it refers to a singlecounty: the revaluation of its owncurrency.

Yes, the ERM in this article isreferring to the RV directly.

Within a country what is the“exchange rate mechanism”? It is the RV.

Between countries it meanssomething else, but within Iraq it can only mean the RV itself.

Now we can understand the trueimport of the article’s statement that the passage of the Electoral Code ofConduct determines the ERM (RV).

What it means is this: The passage of the ECC is necessary in orderto create the conditions for the RV to take place. In other words, it would not be allowed tooccur before the ECC is passed.

Read more: Link to Just4Dinar Post Thread

* Allawi’s list: Division of a “basket” of the three presidencies will be to form a government

14/07/2010 15:26

Neighborhood: spokesman said Iraq’s refusal to list the existing fragmentation of a “basket” to select candidates for the positions of the three presidencies of the Republic and parliament and ministers, noting that it would “delay” to form a government.

The Haider Mulla told (AKI) Italian news agency, said Wednesday that he was “under Article 72 of the Iraqi Constitution, the choice of President of the Republic should be within thirty days from the date of the first session of Parliament before the constitutional deadline to be held today for the fact that this option comes in the basket one with the selection of the President of Parliament and the Council of Ministers “in the new government.

“We are in Iraq refuse to hash this basket because it will be firm to the worsening political situation and complexity than it is now, and thus little chance of forming a government,” he said, “We believe that the way out of the political crisis comes from the gate to recognize one’s while the Constitution of our list in formation of the government, and any jump this benefit is considered a coup on the political process and the Constitution, and it can for Iraq to be a partner in it, “as he put it.

On the dialogue between the list and the coalition of the rule of law, led by Nuri al-Maliki, said Mullah “These consultations are going in two directions, one complements the other, the first Eetmhorhol find participants to prepare a document for the reform of judicial and parliamentary and governmental Each Party shall see, either direction, the second revolves around the node, the prime minister and in this regard Iraq’s position was clear in a letter, consisting of five principles of the coalition recently sent to the state of law. ”

He noted that the letter in question include “reaffirm the right of Iraq to form government, respecting the entitlement to the components of winning elections, and of the principle of peaceful transfer of power, and that these consultations are aimed at creating a policy axes antagonize the other political blocs, but to establish a government of national partnership, and finally the formation of the cabin Cabinet of technocrats on the basis of national identity and racial efficiency and professionalism, “as described.

The new Iraqi parliament adjourned for its two weeks to enable the parties to reach agreement on forming a new government and the country out of the current political crisis.

LINK

* U.S. Embassy: postponement of the parliamentary session will not affect the reduction in the number of U.S. forces in Iraq

14 July, 2010

Said U.S. embassy spokesman Philip Wolverine that the constitutionality of the decision to postpone the parliamentary session or not is the prerogative of the judiciary, not the jurisdiction of the United States of America, noting that it is not appropriate to examine and Washington in this matter.

Wolverine said that postponing the meeting will not affect the reduction in the number of U.S. troops to 50 thousand troops in the month of August next or to the final U.S. withdrawal from Iraq by end 2011 Under the security agreement between the parties.

The parliamentary blocs agreed on Monday to postpone the parliamentary session, the UNITED NATIONS TUESDAY brief summary July 13 for a period of two weeks, with a view to agree on the three presidencies as a single package, which is a violation of the deadline set by the Constitution.

LINK
Read more: Link to Just4Dinar Post Thread Found and Posted by Sally2Step

* Medic chat: Dinar Speculator 7/13/10 @ 9:30pm

MED says to  (22:29:16):
THE ONLY THING RIGHT NOW I CAN SAY ABOUT PARLIAMENT
IS
HMMMMMMMMMMMMMMMMMMMM
AS WE SEE
EVERYONE WANTS TO POINT THE FINGER
AND A REAL SLAM TO TALIBANI
THAT ORDEINO MADE IT CLEAR THAT THE KURDS ARE NOT TO USE BIDENS NAME ANYMORE
IN REFERENCE TO SUPPORT OF TALIBANI
AND HE MADE IT CLEAR THAT BIDEN TOLD THE KURDS THEY NEED TO GIVE UP THE POR
AND ACCEPT OTHER POSITIONS WITHIN THE GOI
I ALSO SAW THE SADRISTS
THREATENING
THAT THE PEOPLE SHOULD RISE UP
AND TAKE OUT THE ELECTED PEOPLE WHO CREATED THIS MESS
NOW I READ MULITIPLE ARTICLES ON TALIBANI
ONE SAYS HE IS NOT POR ANYMORE
THEN ANOTHER SAYS HE IS
I SHOULDN’T BE SURPRISED
THEY CAN’T EVEN AGREE ON THAT
I ALSO SAW WHAT HILLARY SAID
THE U.S. WILL DO WHAT EVER IT TAKES TO HAVE THE GOVT FORMED
THAT CAN BE TAKEN MANY DIFFERENT WAYS
I HATE TO SAY THIS OK
BUT THE LAST MONTH
HAS BEEN EXTREMELY STRESSFUL
FOR ALL OF US
WE ALL WERE COUNTING DOWN TO THE 14TH
AND THEN AS I KINDA HINTED AT LAST WEEK
AN 11TH HR
MESS
WHY DON’T YOU ALL IF YOU HAVE A FAMILY YOU HAVEN’T SPENT MUCH TIME WITH
GO DO IT
AT LEAST FOR A COUPLE HRS
KICK BACK
TALK TO YOUR WIFE OR HUBBY
SPEND SOME TIME WITH YOUR KIDS
I PERSONALLY HAVE BEEN READING FOR ALMOST 48 HRS STRAIGHT
AND I NEED A BREATHER
FOR A COUPLE HRS
AND YOU ALL DO TOO
THIS SITE IS NOT JUST TO SEE HOW MANY I CAN DRAW INTO IT
BUT FORGET ABOUT THE DINAR FOR AWHILE

jfraser says to  (22:39:29):
Have a good break, Med.  The info will be here tomorrow.

MED says to  (22:39:31):
GN MUDDY
YES IT WILL JF
I WILL BE ON IT AROUND 2 AM
WHEN IT STARTS TO REVOLVE IN AND OUT
TY
OK LATER ALL