Thread: Archive Latest News - Dinar Think Tank - 27/08/08 - 15/01/09

Security Council to keep Iraq under Chapter VII may reflect the resolution if Iraq fulfills

The UN Security Council voted unanimously Tuesday to keep Iraq under Chapter VII of the Charter of the United Nations, but vowed to reverse its decision in the future if Iraq fulfills all resolutions related.

The council adopted under Chapter VII resolution No. 1859 which decided to review all the resolutions relating to Iraq with resolution 661 adopted at the sixth of August 1990, imposed sanctions on the former regime before the invasion of Kuwait four days.

The other resolutions of Kuwaiti prisoners and return stolen Kuwaiti property and the demarcation of the Kuwait-Iraq border and compensation.

The Council asked UN Secretary-General Ban Ki-moon in this regard to prepare a report after consultations with Iraq on the relevant facts, including requests from Iraq to conform with international standards

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UN Security Council Extends Protection for Iraqi Assets

The United Nations Security Council has voted to extend U.N. protection for Iraq's assets, a measure that shields Iraq from international lawsuits.
Security Council members unanimously adopted a resolution Monday to continue protecting Iraqi assets until December 31, 2009. The measure was due to expire at the end of this month.

Iraq's oil revenues and other financial assets are held in a U.N.-monitored account, known as the Development Fund for Iraq, to ensure they are used for the country's reconstruction. The assets cannot be seized by foreign governments or others seeking damages from Baghdad.

Iraqi Foreign Minister Hoshyar Zebari welcomed the Security Council vote. After attending the session, he said the resolution is a strong signal that Iraq no longer poses a threat to the world, as it did under ousted leader Saddam Hussein.

In another development, Iraq's parliament delayed a vote that was expected Monday on whether to allow non-American foreign troops to operate in Iraq beyond this month.

Iraqi lawmakers instead held a special session to discuss removing Parliament Speaker Mahmoud al-Mashhadani. Some lawmakers accuse Mashhadani of making comments last week that insulted the parliament.
It is not clear when the assembly will vote on a resolution allowing troops from Britain, Australia, El Salvador, Estonia and Romania to operate in Iraq until July 2009.

If the measure is not passed before a U.N. mandate expires on December 31st, the non-U.S. foreign troops will have no legal basis to operate in Iraq next year. Some Iraqi lawmakers say it is important to pass a resolution quickly to prevent such a scenario.

Washington already has signed an agreement with the Iraqi government that allows U.S. troops to operate in Iraq until the end of 2011.

VOA News - UN Security Council Extends Protection for Iraqi Assets

thanks for all your research and input seaview...i for one appreciate it..just gets depressing at times when you see how S--L--O--W these Iraqi's are...they can talk a good talk...but they can't walk the walk...in my opinion..Merry Christmas to all...Pat

Yes thank you for your info that you put out!

Wow,

Who would have guessed it would be this long to see a revalue? It is similar to the oil rise and fall, who would have guessed oil would collapse to pre 2004 levels?

2008 sure has been a strange one, with so many bank collapses, big stock companies going under, Fannie and Freddie bailout, AIG bailout, thousands of small businesses going bankrupt, who could have predicted all we have seen.

We have seen the dollar collapse, then artificially propped back up as U.S. gov. effectively bribed world banks to support and pump up dollar, but in the end, there is no saving it, and as we have seen, the dollar is again dropping in value. Mass market manipulation, that is what we have seen in 2008.

As far as Iraq goes, we also see the same, but with little accomplished to date other than seeing infighting month after month and now, year after year. One thing is certain, the dinar is the most stable of all currencies having risen steadily since invasion, and this is a good sign, one that was mentioned as essential to Iraq's financial stability and future.

So what is left to be done? We know oil contracts are flowing in, we know foreign investments are growing, and along with it, a more stable government, slow but sure, so are we close? The current coinage were removed from circulation months ago, and yet not a word on what will replace them. Sure makes you wonder why they would pull coins out of circulation if they had no intention to replace them with different value coinage. This is the one indicator I see which has real meaning. What other reason would their be to remove coins? All we can do is hope 2009 will be the year we finally see a revalue of dinar.

Happy Healthy and Wealthy New Year to all, Mike

We also have to look at the full departure of the British troops before summer this year which would create a vacuum with uncertainty although that is strongly denied by the Iraqis who we also hope is "truly" capable and equipped with all the training they have received to stand up to defend the country.

Yes, a revalue would be a compromising consolation as backdrop to the long awaiting needs but will it be timely?

These guys in Govt and made up from different, differing parties running with their own agendas sees every development that are tuned to their own desires for that "perfect" gain but it has never delivered a sole delivery of what they actually sought for... the more help, money, face-saving exit and/or assistance at 3rd party expense, the more they procrastinate leading to a decisive decision... hence, when will these quibbling & squabbling finally end???

Lets wait again and hope to see something more tangible showing up not to far in the distant future...

There is still room for optimism.... they can do it, but can most of you have the stomach and patience without money hang on to or be around when it finally materialize?

Cheersch to all and I sincerely hope ALL of you are still around for as long as it takes with ROLClub Forum too!!!

Will be back posting next week. The new computer I bought, I had to return 3 times. So now on my fourth new computer. This one works fine.

Took advantage of Christmas and New Year for a lovely break.

Lets see what pans out in 2009.

Opening of branches of the Rafidain Bank in all governorates

Rafidain Bank today opened a number of affiliates in each of the province of Basra, Ramadi, Mosul and Hilla. The head of the Bank, Mr. Ali Hussein al-Yasiri reporter (news agency, Iraqi Information / INA) It was the opening of these branches to revive the country's economy, which suffered a total isolation from the world In the past, but today has seen Iraq generally and in particular the banking sector has evolved significantly in the work and the many branches of the sector has become the Rafidain Bank of Iraq branch in all 151 districts.

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The Sadrists are demanding the removal of or replacement of the Presidium of the Parliament

Asked a spokesman for Sadr, Ahmed Massoudi sacking or replacement of the Presidium of the Parliament.

He said the First Deputy Speaker of Parliament, Khaled al-Attiya is not fit to lead the Council because of "partisan and sectarian tendencies," in addition to that he is the representative of the Iraqi government in the parliament.

Massoudi said that the conduct of the personal Attiya during Mkhatabath from the House of Representatives associated with Do not let the Iraqi parliament is the right course of which is supposed to be.

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