Iraqi Dinar Exchange Rate Manipulated?

Investigators in Iraq have opened an inquiry into alleged manipulation of the exchange rate between the Iraqi dinar (IQD) and the US dollar, and arrest warrants have reportedly been issued for several officials including the head of the Central Bank of Iraq (CBI).
Hassan Karim Aati, spokesman for the Commission on Integrity, said on Tuesday that the Commission is looking into the matter, and studying documents from a parliamentary committee investigating the corruption allegations.
The investigation focusses around 16 officials in the CBI.
While it’s understood that no charges have been brought, Baha al-Araji, the chairman of parliament’s integrity committee, said 30 arrest warrants had been issued, including for CBI governor Sinan al-Shabibi and his deputy Mudher Saleh [Mudher Kasim, Mudher Saleh Kasim].

What’s the Real Reason for Shabibi’s Dismissal?

Perhaps the biggest story of recent days was the shock dismissal of the Governor of the Central Bank of Iraq (CBI), Sinan al-Shabibi, and the issuing of arrest warrants for him and many of his staff.
The nature of the allegations against Mr Shabibi are not entirely clear, but appear to center around manipulation of the exchange rate between the Iraqi dinar (IQD) and the US dollar.
Considering the fact that the exchange rate has been managed within a relatively tight range for quite some time, this accusation looks a little strange.
But there has been tension between the Central Bank and the government for years. In January of last year, Nouri al-Maliki secured a court ruling placing the Central Bank under the control of the cabinet, rather than the parliament, much to the displeasure of al-Shabibi.
The latest charges have been brought by Iraq’s Commission on Integrity, whose former head resigned last year, alleging political interference in his inquiries.
Suspicions abound that the Central Bank affair is an attempt by al-Maliki to increase his control of the bank. While we wait for more details to emerge, the international business community will be watching developments closely

MP Rules Out Deleting Zeros from Currency Soon

Posted on 27 October 2012

Iraqi MP and member of the Parliamentary Economic and Investment Committee, Nahida al-Dayni, has ruled out deleting the zeros from the Iraqi currency soon.
Speaking to All Iraqi News Agency (AIN), she said:

“The process of deleting the zeros from the Iraqi currency will not be done soon due to the lack of security and economic stability in Iraq, in addition to the lack of the required observatory role and the reduction of the IQD to the USD.

“The increase and decrease of the prices are related to the regional situation … The possibility of fixing the price of the USD to keep the same ratio of the IQD in the local markets.“

Previously, the Council of Ministers decided to postpone the process of deleting the zeros from the Iraqi currency until further notice.

Iraq calls on the United States to support efforts to emerge from Chapter VII

Published on Wednesday, September 26 / September 2012 09:36

BAGHDAD / obelisk: called the Iraqi delegation in the works of the 67th session of the Juma General of the United Nations, Wednesday, the United States to support Iraq’s efforts to emerge from Chapter VII of the UN Charter, and to address the remaining issues with Kuwait within the framework of the resolutions of international legitimacy.

The Foreign Ministry said in a statement obtained by “obelisk” a copy of which, “The Iraqi delegation headed by Vice President Khudair Khuzaie met, at the UN headquarters in New York, U.S. Secretary of State Hillary Clinton and the parties discussed how to support the United States to support Iraq’s efforts to emerge from Chapter VII of the UN Charter, and to address the remaining issues with Kuwait within the framework of the resolutions of international legitimacy. “
The statement added that “During the meeting the parties discussed relations, Iraq – U.S. and work of the Joint Coordinating Committees emanating from the strategic framework agreement.”
The statement pointed out that “the meeting also touched on the Iraqi stance of the Syrian crisis and to emphasize the importance of the political transition process and stop the bloodshed and support the mission of UN envoy and joint Arab and non-militarization of the conflict.”
It is noteworthy that Iraq is taking part in the session of the 67-Fri-General of the United Nations, in New York City, U.S., with a delegation headed by Vice President Khudair Khuzaie and includes parliamentary figures and Foreign Minister Hoshyar Zebari.
Iraq has been under since 1990 Chapter VII of the UN Charter, which provides for the imposition of sanctions by the following occupation of Kuwait in August of the same year, and under Chapter mentioned right for the international community to use force against Iraq as a threat to international security, as well as freezing of large amounts of its assets financial in international banks to compensate those affected by the invasion of Kuwait.

Five-Member Committee meets tomorrow to reach a common formula for the oil and gas law

Baghdad (newsletter) …Said Deputy oil and Energy Committee and the Committee of five, the importance of temporary special Committee meeting to consider the draft oil and gas law, on Sunday, for a unified law for oil and gas regulated the relationship between the Federal Government and the provinces and prefectures in the province irregular oil field called promising opportunities to expand cooperation and investment with companies.
Temporary Special Committee includes in its membership both chroma Pushparaj State Minister for Parliament representing the National Alliance MP Adnan al-Janabi, Chairman of the Committee on oil and energy representing the Iraqi list, MP Farhad alatroshi representatives from the Kurdistan Alliance, as well as Abdel Karim of the Federal Oil Minister Faisel laibi washti hawrami Minister of petroleum and natural resources in Kurdistan.
Works under the supervision of the presiding officers of the Iraqi Council of representatives that seem bent on accelerating legislation during the next phase being a constitutional task that benefits are widespread attention on several levels locally, regionally and internationally.
Transfer statement to the House of representatives, received (News Agency news) on Saturday, the Vice-Chairman of the Committee for oil and gas on hospitality, as saying: the House of representatives and the Ministry of oil in the Central Government and the Kurdistan Committee to consider great importance being addressed the problems and existing powers and organization of productive forces.
Fayad said: we are committed to the Constitution and the Federal Government where we want oil industry westratget building to maintain national benefits by the Government towards the citizen and the explicit reference to article 111 and 112 wmafyha the powers of the Federal Government and effective participation in decision-making the most useful and worthwhile in Iraq.
And: a small Committee agreed to chair the House Legal Committee empowered by the Iraqi list and the National Alliance and the Kurdistan Alliance and the Federal Government’s oil Minister and oil Minister of wealth that represent the territory for a law protecting oil products put everyone before legal professional take all cases that serve the petroleum and process productivity.
The statement noted: the Attorney on hospitality, expressed his optimism to the outcome of the meetings of the Commission as a serious step of all parties to investigate Iraq’s interest as the project represents a lifeline to Iraq’s Renaissance and nation-building, noting: that all parties are serious steps to ensure important law legislation which protects citizens ‘ rights and the rights of companies that operate in Iraq and striving to maintain public money.
And MP Fayad: that government laws have priority over all laws made by the commissions, or even laws made during 2007 and 2008 and all drafts will be put on the table to reach a satisfactory result serving the national interest.
It said: that MP Farhad alatroshi temporary special Committee member, said: the Committee was formed after the last meeting of the legal Committee and oil two weeks ago and reached a decision to form a Committee called the Committee of five that will work on a draft or bill for oil and gas agreed by large parties as a basis for first reading legislative actions which then will draft amendments as requested by the House of representatives.
He alatroshi to: the importance of law lies in the two first professional technician where the oil and gas Act will regulate the vital sector statute is important in Iraq as known, about 95% of Iraq’s revenue from oil, according to the report of the Finance Committee and the oil sector needs a clear and explicit Act employs the powers of each of the parties as provided for in the Constitution must translate this article to constitutional law serves the ground to draw oil policy that serve citizen and country, notingThe second important aspect: the adoption of the law on oil and gas will be the largest contract in Iraq after 2003 because of the biggest problems of distribution and wealth management in Iraq, specifically oil wealth if we succeed in resolving this node will be way easier to solve other problems.
Said: the Kurdistan Alliance will make every effort to bring the Bill in line with the Constitution spirit and in form and we are serious about this issue and we believe by reading the political situation that everyone in dealing with serious law absolutely for its legislation, adding: that the law is a 50 articles by draft the dispute sites will be limited in certain cases but substantial and fundamental issues but many participants.
And Deputy from the Kurdistan Alliance: there are four or three projects probably will be added to another project to the Committee on oil and energy, the four projects represent the views of the party I represent the Government’s view and understanding of the constitutional articles 111 and 112 and other constitutional materials and power must be a priority for the Federal Government except some formal secondary authorities other projects included by some political parties that the system in a federal Iraq based on the levels of Government and to the authority of the Federal and territorial Governments and local governments in the provinces, must not exceed Stressing the necessity of the distribution of powers and competences between these levels under one law.

Zebari and his Kuwaiti counterpart discuss UN outstanding issues between the two countries

Saturday, September 29 / September 2012 13:12 

Research and Foreign Minister Hoshyar Zebari with Deputy Prime Minister and Foreign Minister of Kuwait Sabah Al-Khalid Al-Hamad Al-Sabah Iraqi relations – Kuwait.


A statement from the Ministry of the agency received all of Iraq [where] today that “Zebari met at the headquarters of the United Nations, Deputy Prime Minister and Foreign Minister of Kuwait During the meeting, they discussed bilateral relations and relations with the United Nations and the Security Council on international resolutions between Iraq and Kuwait.”
“The two sides spoke highly of bilateral visits and discussions during this year and the positive progress that has been made in the course of relations between the two countries and the emphasis on maintaining the momentum of this progress and move forward.”
The statement said that “were reviewed Iraq’s international obligations and relevant resolutions and stressing the importance of bilateral cooperation in order to help Iraq out of Chapter VII was reviewed file Kuwait Airways and the missing file and prisoners of war and Kuwaiti property and resolution 833 on the border and issue of compensation was emphasized to sustain communication and continuous consultation between the two countries during the coming period for the completion of further progress

Shabibi: Reserve $60 billion and the process of deleting the zeroes will begin early next year

Shabibi: Reserve $ 60 billion and the process of deleting the zeroes will begin early next year

Baghdad - The World: The governor of Central Bank of Iraq Friday rising bank monetary reserves of $ 50 billion to 60 billion dollars, indicating that the process of deleting the zeroes will begin early next year.

He said Central Bank Governor Sinan Shabibi told the Kurdish news agency (Rn) that "Iraq's cash reserves rose to $ 60 billion after it was last year's $ 50 billion."

He explained that "the central bank seeks through cash reserves to shore up confidence in local currency and increases the stability and regulates financial dealings in Iraq."

Regarding the project to delete the zeros Shabibi said that "the project to delete the zeros will be launched in January (Jan) and next, which would address the problems of inflation and the budget and commodity exchange on the grounds that Iraq is moving towards a free economy."

Authority announced the Iraq Stock Exchange earlier that the deletion of three zeros from the local currency will not affect the level of equity investment of external and internal.

The main tasks of the Iraqi Central Bank to maintain price stability and the implementation of monetary policy, including exchange rate policies and the management of foreign currency reserves and the organization of the banking sector.

In regard to the offline CBI acknowledged Friday the existence of an imbalance in the Iraqi dinar exchange rate, confirming his quest to unify the exchange rate between him and the local markets, denying at the same time, any deterioration of the value of Iraqi dinar.

The central bank last week accused the four countries to "conspiracy" to hit the financial economy of Iraq to empty its market of its financial strength, indicating that the free trade corridors in Iraq is becoming the means adopted to hit the economy.

The deputy governor of Bank of the appearance of Mohammed, told the Kurdish news agency (Rn) "does not exist in the current phase of any deterioration of the value of Iraqi dinar and this is important," but he came back and acknowledged "the existence of an imbalance in the exchange rate of the dinar."

He also explained that "the central bank seeks to unify the exchange rate of the dollar against the dinar between the central bank and domestic markets (corporate banking) and uniformity depends on the volume of sales of the bank."

He pointed out that "the size of central bank sales of the dollar is approaching 200 million dollars a day which is close to last year's sales."

The main task of the Iraqi Central Bank to maintain price stability and the implementation of monetary policy, including exchange rate policies and the management of foreign currency reserves and the organization of the banking sector.

For his part, economist Samir Nasiri told (Voices of Iraq), the crisis of exchange rates that prevailed in the Iraqi market local Aithml responsibility regarding the Iraqi Central Bank alone, "but the responsibility must be borne by the well" by many others including the Ministry of Finance and government and private banks and the Committees of Finance and Economic Iraqi parliament and the economic ministries such as industry and agriculture. "

The Iraqi dinar has been a decline rate of exchange against the U.S. dollar of 1180 dinars per dollar, to about 1300 dinars per dollar, to close at 1125 dinars per dollar.

He justified the Central Bank exchange rate fluctuations as a result of the increased demand in an unprecedented way, because of the sanctions imposed on Iran and Syria and the decline in exchange rates of the lira and Altoman half.

Which called for the central bank to tighten sale of foreign currency for the required private banks to disclose the clients of the applicants purchase, according to the instructions adopted at the first of February 2012, relating to the use of the instrument certified to the customer one for the purposes of tariff, non-responsive to requests for purchase, but the existence of accountable tax year, and official documents to prove that the money actually going to trade.

Nasiri suggested "the formation of a Committee of an economic crisis from all sides and above the Central Bank of Iraq combined with the experts from the private activity," This committee will "examine the reality of the Iraqi economy, and applications of monetary and fiscal policy and the constraints faced by the construction of structural economic sense and access to radical solutions and enforceable." The Iraqi banking sector sees Mediterranee that "must be reformed and restructured and re-consider the law of the Iraqi Central Bank No. 56 of 2004 and the Banking Act and its amendments No. 94 of 2004", as well as "amend the law on company registration number 21 of 1997 and activation of the Investment Law No. 13 of 2006" .

To maintain the exchange rate, adds Mediterranee "We control the exit of foreign currency outside the local market according to the Principles and guidelines for new and not hard-line as it is now, and not to the extent that leads to the creation of economic crises, a new," while maintaining the "independence of the Central Bank of Iraq to take all procedures monetary policy according to its law in force. "

Nasiri called to "stop the media campaigns organized by some quarters against the Central Bank of Iraq and accused him of his services and various charges that her health has not been confirmed so far, which will reflect negatively on the economic situation in Iraq in general."

Biblical Prophecies of Iraq [part 2]

Prophecies of Iraq (Babylon) From Isaiah and Jeremiah . . .

Isaiah 13:1-22 . . . The Burden Against Babylon (Iraq)

This prophecy was written by the prophet Isaiah around 700 BC, over 2,700 years ago. A complete scroll of the book of Isaiah was found among the Dead Sea Scrolls (over 2,100 years old) and is now on full public display in its entirety (including these passages), in a glass case in Israel, for all to see. Also, for those of you who may have any doubts about Babylon (ancient name) and Iraq (modern name) being synonymous, simply go to Babylon News, the official web news-site of Iraq, which is currently run (now was run) by Saddam Hussein's son, Uday Hussein . . .

Although Babylon (southern Iraq) was conquered by the Medes and the Persians in ancient times, it was conquered in such a way it was never destroyed ... in fact, in the past the great city of Babylon was spared (and used ) by its conquerors, including both Persia and Greece. Today, Saddam Hussein (and now others since Saddam Hussein was toppled and executed) have spent hundreds of millions of dollars restoring the ancient city of Babylon, including the palace where the prophet Daniel served and interpreted the "handwriting on the wall" the night before the Persians conquered the city (by sneaking in quietly under the river gates.)

So, the total destruction of Iraq (Babylon) as clearly prophesied in the Bible . . . is still future!

This prophecy against Iraq is fascinating ... and timely. Scoffers and skeptics should take note, for God says He uses prophecy to prove He is who He says He is. The details in this series of prophecies are both remarkable . . . and hard to ignore. (As you might notice, I wrote much of this Bible Prophecy study before the fall of Saddam Hussein ... which shows this Bible prophecy is now clearly "in process" and on schedule.)

What does God say concerning "The burden against Babylon (Iraq)?"

God first sends a warning to Iraq . . .

"The burden of Babylon (Iraq),

which Isaiah the son of Amoz did see (meaning this is prophetic)
Lift ye up a banner upon the high mountain,

exalt the voice unto them,

shake the hand, that they may go into the gates of the nobles. (Warn them judgment is coming)
I have commanded my sanctified ones,

(Sanctified means 'set aside,' much like the word 'holy'... it is where we get the word 'saint.')

I have also called my mighty ones for mine anger, (this will be no mere skirmish)

even them that rejoice in my highness." (God is calling those who still believe in Him in faith ...)

(Isaiah 13:1-3)

God warned He would one-day gather MANY nations against Iraq (Gulf War I + II?) . . .

"The noise of a multitude in the mountains,

like as of a great people;

a tumultuous noise of the kingdoms of nations gathered together:

the LORD of Armies (hosts) musters the armies (host) of the battle."
(Isaiah 13:4) (God was in control ...)

Study your history books (and Bible) ... ancient Babylon was conquered by just TWO nations (the Medes-Persians led by Cyrus the Persian) ... without firing a shot! Now, study (and watch the news videos) of the Iraq (Gulf) War I & II ... the combined "coalition" of nations surrounding and invading Iraq was massive!

The armies will come from "a far country"... "the end of heaven" . . .

"They come from a FAR country,

from the end of heaven, (the US is almost on the opposite side of the globe from Iraq)

even the LORD, and the weapons of his indignation,

to destroy the whole land."

(Isaiah 13:5)

Look at a globe ... and look where the US is compared to Iraq (Babylon) ... then study your history books.

It will be a judgment by God against Iraq (Babylon) . . .

"Howl ye;

for the Day of the LORD is at hand; (the coming "Apocalypse")

it shall come as a destruction from the Almighty."

(Isaiah 13:6) (He links Iraq to the coming "Apocalypse" and Armageddon ...)

Fear would grip the Iraqi soldiers and armies . . .

"Therefore shall all hands be faint,

and every man's heart shall melt:
And they shall be afraid:

pangs and sorrows shall take hold of them;

they shall be in pain as a woman that travaileth:

they shall be amazed one at another;

their faces shall be as flames."

(Isaiah 13:7-8) (Watch the videos of the Iraqi soldiers trying to surrender during Iraq-Gulf War I ...)

The Persians took Babylon without a major battle ... they diverted (and lowered) the river ... and then snuck in at night to capture the Palace ... the Babylonian army didn't know they had been conquered until after it was all over.

The Bible warns there is still MUCH to come in Iraq (Babylon) . . .

The judgment against Iraq is shown as a pre-cursor to the coming Apocalypse and Armageddon. The 'Day of the Lord' is used of the times leading to Armageddon . . . apparently this coming destruction of Iraq will somehow be linked to the "Apocalypse" and Armageddon when God will judge ALL the nations and people of the world . . .

"Behold, the Day of the LORD cometh, (the coming "Apocalypse")

cruel both with wrath and fierce anger,

to lay the land desolate: and he shall destroy the sinners thereof out of it.
For the stars of heaven and the constellations thereof shall not give their light:

the sun shall be darkened in his going forth,

and the moon shall not cause her light to shine.
And I (God) will punish the world for their evil,

and the wicked for their iniquity;

and I will cause the arrogance of the proud to cease,

(this means all nations and people)

and will lay low the arrogance (haughtiness) of the terrible.
I will make a man more precious than fine gold; (survivors will be rare ...)

even a man than the golden wedge of Ophir.
Therefore I (God) will shake the heavens,

and the Earth shall remove out of her place,

in the wrath of the LORD of Armies (hosts),

and in the Day of His fierce anger." (another term used in the Bible for the coming "Apocalypse"

(Isaiah 13:9-13)

God will stir up the Kurds (the ancient Medes) who now live in Northern Iraq (and Iran, and Turkey.) It is interesting that it was the Medes (the Kurds in northern Iraq) who Saddam Hussein used chemical weapons on and killed an estimated 50,000. The Kurds will have no compassion on the men, women, or children, of Southern Iraq and will not be interested or swayed by money, silver, or gold to stop their deadly march and slaughter . . .

"Behold, I will stir up the Medes against them,

which shall not regard silver;

and as for gold, they shall not delight in it.
Their bows also shall dash the young men to pieces;

and they shall have no pity on the fruit of the womb;

their eye shall not spare children."

(Isaiah 13:17-18)

Southern Iraq (Babylon) will one day be utterly destroyed in such a way (nuclear, chemical, or biological?) that it will never, ever, be inhabited by man again . . .

"And Babylon, the glory of kingdoms,

the beauty of the Chaldees' excellency,

shall be as when God overthrew Sodom and Gomorrah.
It shall NEVER be inhabited,

neither shall it be dwelt in from generation to generation"

(Isaiah 13:19-22) (This judgment still lies in the future ... )

MORE PROPHECIES ... (From the Book of Jeremiah )

Jeremiah 51:1-64 . . . Iraq (Babylon) will become "a heap of rubble"

Prophecies Against Babylon (southern Iraq) . . .

God would raise up "foreigners" from every side to rise against Iraq . . .

(Again - Study and watch old news reports of Gulf-Iraq Wars I & II)

"This is what the LORD says:

'I will stir up a destroyer against Babylon and the people of Babylonia.

Foreigners will come and winnow her,

blowing her away as chaff.

They will come from every side

to rise against her in her day of trouble.'"

(Jeremiah 51:1-2)

God's judgment against Iraq (Babylon) is not yet complete ... Iraq (Babylon) will once again become a powerful enemy against Israel ... and God explains He will do this because He has NOT forsaken Israel (even though their sin was great) . . .

^"Don't let the archers put on their armor or draw their bows.

No one will be spared!

Young and old alike will be completely destroyed.

They will fall dead in the land of the Babylonians, slashed to death in her streets.

For the LORD Almighty has not forsaken Israel and Judah.

He is still their God,

even though their land was filled with sin

against the Holy One (Messiah) of Israel." (Rejection of their Messiah ...)

(Jeremiah 51:3-5)

God is calling on all who will hear His voice to flee from Iraq . . .

^"Flee from Babylon! Save yourselves!

Don't get trapped in her punishment!

It is the LORD's time for vengeance;

He will fully repay her."

(Jeremiah 51:6)

"And I heard another voice from Heaven saying,

"Come out of her, My people,

lest you share in her sins,

and lest you receive of her plagues.

For her sins have reached to Heaven,

and God has remembered her iniquities."

(Revelation 18:4)

God will destroy all who desecrated His Temple in Jerusalem . . .

"This is His vengeance against those

who desecrated His Temple. (This will happen again ...at the time of the coming Antichrist!)

Raise the battle flag against Babylon!

Reinforce the guard and station the watchmen.

Prepare an ambush,

for the LORD will fulfill all his plans against Babylon."

(Jeremiah 51:12-14)

Iraq will NEVER be inhabited again after God's judgment is completed against her . . .

"The LORD says to Jerusalem,

'I will be your lawyer to plead your case, and I will avenge you.

I will dry up her river, her water supply,

and Babylon will become a heap of rubble,

haunted by jackals.

It will be an object of horror and contempt,

without a single person living there."

(Jeremiah 51:36-37)

This portion may project out even further (see "Mystery Babylon" in Revelation 17:1 - 18) to the final judgment and destruction of all the nations and people of the world who have turned their backs on God and rejected the offer of Jesus (Yeshua) of shelter and protection (see the "The Rapture" ... "The Coming Apocalypse" . . . and "Messiah's Return." )

"In their drunken feasts, the people of Babylon roar like lions.

And while they lie inflamed with all their wine, I will prepare a different kind of feast for them.

I will make them drink until they fall asleep, never again to waken," says the LORD.

"I will bring them like lambs to the slaughter, like rams and goats to be sacrificed.

"How Babylon is fallen--great Babylon, praised throughout the Earth!

The world can scarcely believe its eyes at her fall!

The sea has risen over Babylon; she is covered by its waves.

Her cities now lie in ruins; she is a dry wilderness where no one lives or even passes by.

And I will punish Bel, the god of Babylon, and pull from his mouth what he has taken.

The nations will no longer come and worship him.

The wall of Babylon has fallen." (This never happened at the time of the Persian conquest ...)

(Jeremiah 51:38-44)

Bible Prophecies -- IRAQ (Babylon) Part 1

Bible Prophecies

IRAQ (Babylon!)

The Bible warns of a coming judgment upon Babylon (modern Iraq) and says Iraq (Babylon) will rise again as a great "global economic" and "global religion" center ... and then will be utterly destroyed and left uninhabitable.

In the Old Testament (Tanakh), great prophecies against Iraq (Babylon) are found in the books of Isaiah 13:1-22 and Jeremiah 51:1-64 ... and also in Zechariah 5:1-11 (where Babylon is called by its ancient name "Shinar".) In the New Testament we find a fearful prophecy against "Mystery Babylon" in the book of Revelation chapters 17-18 (in the Bible a "mystery" is something that had not yet been revealed in Scripture.)

The Bible warns the prophecies against Iraq (Babylon) will be fulfilled in 3 Phases . . .

PHASE 1: Iraq (Babylon) would be invaded and conquered by a coalition of many nations led by a nation and leader from "a far country"... "the end of heaven" (the opposite side of the Earth) ... This Bible prophecy does not describe the Persian (and Medes) invasion of Babylon when Cyrus the Great conquered Babylon in 539 BC (the Persians diverted the Euphrates river and entered Babylon through the river bed gates on the night of October 12 without damaging the city ... many of the citizens did not even know they had been conquered for several days) ...

But, this Bible prophecy does (very accurately and remarkably) describe the Gulf War I + Gulf War II invasions of Iraq (Babylon) ... and remember, Saddam Hussein even described himself as the new Nebuchadnezzar (the famous ruler of ancient Babylon) ...

PHASE 2: Iraq (Babylon) will then rise to become the great economic and religious center of the world ... filled with evil and wickedness ... The "Woman" of Revelation 17:1-18 and Zechariah 5:1-11 ... "The Woman who rides the Beast"... "MYSTERY, BABYLON THE GREAT, THE MOTHER OF HARLOTS AND OF THE ABOMINATIONS OF THE EARTH" ... is the coming evil and powerful religious system which will rise along with a powerful and evil "centralized" political-economic system under the leadership of the coming Antichrist (a powerful and popular world leader who will rise ... a Satanic empowered counterfeit Messiah.) The Bible warns at the time of the coming Antichrist and just before Armageddon, Iraq (Babylon) will become the economic and religious heart of the world. The coming Antichrist (who will rise in power over 10 nations which we are told were all once part of the ancient Roman Empire) will shift the center of the coming "global economic" system and the center of the coming enforced "global religion" ("the Mother of Harlots" ... "The Abominations of the Earth" ... study Revelation 17:1-18 and Zechariah 5:1-11) to Iraq (Babylon) under his control and under the control of his powerful "religious" partner ..."the Second Beast" of Revelation 13:11-12.)

As a note, it now appears the world is busily preparing the way for this Phase 2 . . .

PHASE 3: Southern Iraq (Babylon) will be utterly destroyed ... left uninhabitable ... forever! The Bible warns Iraq (Babylon) ..."Shall be as when God overthrew Sodom and Gomorrah" ... "it shall never be inhabited" ... "neither shall it be dwelt in from generation to generation" ... "Babylon will become a heap of rubble" ... "haunted by jackals" ... "it will be an object of horror and contempt" ... "without a single person living there."

Note: This will take place at the time of the coming "Apocalypse" and Armageddon.

From the book of Revelation (the "Apocalypse") . . .

"After these things (after the rise of the Antichrist, the global economic system, and global religion ...)

I saw another angel coming down from Heaven,

having great authority,

and the Earth was illuminated with his glory.

And he cried mightily with a loud voice, saying,

"Babylon the great is fallen,

is fallen and has become a dwelling place of demons,

a prison for every foul spirit,

and a cage for every unclean and hated bird!

For all the nations have drunk

of the wine of the wrath of her fornication,

the kings of the Earth have committed fornication with her,

and the merchants of the Earth have become rich

through the abundance of her luxury."

(Revelation 18:1-3)

"Therefore her plagues will come in one day --

death and mourning and famine.

And she will be utterly burned with fire,

for strong is the Lord God who judges her.

The kings of the Earth who committed fornication

and lived luxuriously with her

will weep and lament for her,

when they see the smoke of her burning,

standing at a distance for fear of her torment, saying,

'Alas, alas, that great city Babylon, that mighty city!

For in one hour your judgment has come.'

And the merchants of the Earth will weep and mourn over her,

for no one buys their merchandise anymore:

merchandise of gold and silver,

precious stones and pearls,

fine linen and purple, silk and scarlet ..."

(Revelation 18:8-12)

Iraqi Dinar and the Bible Reference to Iraq/Babylon Prophecy

Iraqi Dinar and the Bible Reference to Iraq/Babylon – Prophecy?

by: Faith Sloan

The Bible warns of a coming judgment upon Babylon (modern Iraq) and says Iraq (Babylon) will rise again as a great “global economic” and “global religion” center … and then will be utterly destroyed and left uninhabitable.
In the Old Testament (Tanakh), great prophecies against Iraq (Babylon) are found in the books of Isaiah 13:1-22 and Jeremiah 51:1-64 … and also in Zechariah 5:1-11 (where Babylon is called by its ancient name “Shinar”.) In the New Testament we find a fearful prophecy against “Mystery Babylon” in the book of Revelation chapters 17-18 (in the Bible a “mystery” is something that had not yet been revealed in Scripture.)
1. The Garden of Eden was in Iraq . 2. Mesopotamia, which is now Iraq, was the cradle of civilization! 3. Noah built the ark in Iraq . 4. The Tower of Babel was in Iraq . 5. Abraham was from Ur, which is in Southern Iraq . 6. Isaac’s wife Rebekah is from Nahor, which is in Iraq . 7. Jacob met Rachel in Iraq . 8. Jonah preached in Nineveh – which is in Iraq . 9. Assyria, which is in Iraq, conquered the ten tribes of Israel . 10. Amos cried out in Iraq .
11 Babylon , which is in Iraq , destroyed Jerusalem . 12. Daniel was in the lion’s den in Iraq . 13. The three Hebrew children were in the fire in Iraq (Jesus had been in Iraq also as the fourth person in the Fiery Furnace!). 14. Belshazzar, the King of Babylon saw the ‘writing on the wall’ in Iraq . 15. Nebuchadnezzar, King of Babylon, carried the Jews captive into Iraq . 16. Ezekiel preached in Iraq . 17. The wise men were from Iraq . 18. Peter preached in Iraq .
19. The ‘Empire of Man’ described in Revelation is called Babylon –which was a city in Iraq. And you have probably seen this one: Israel is the nation most often mentioned in the Bible. But do you know which nation is second? It is Iraq !
However, that is not the name that is used in the Bible. The names used in the Bible are Babylon , Land of Shinar , and Mesopotamia … The word Mesopotamia means between the two rivers, more exactly between the Tigris And Euphrates Rivers .
The name Iraq means country with deep roots. Indeed Iraq is a country with deep roots and is a very significant country in the Bible. No other nation, except Israel , has more history and prophecy associated with it than Iraq .

…. JUST WANTED TO SHOW YOUR WHAT I READ ONLINE. GONNA RESEARCH THE FACTS TO CONFIRM. I am ready for the Dinar to POP i.e. RV. Going back to read the Bible without Bias. See ya’ll soon.

IRAQI OIL PRODUCTION SOARING

BAGHDAD — Despite sectarian bombings and political gridlock, Iraq’s crude oil production is soaring, providing a singular bright spot for the nation’s future and relief for global oil markets as the West tightens sanctions on Iranian exports.
The increased flow and vital port improvements have produced a 20 percent jump in exports this year to nearly 2.5 million barrels of oil a day, making Iraq one of the premier producers in the Organization of Petroleum Exporting Countries for the first time in decades.
Energy analysts say the Iraqi boom, along with increased production in Saudi Arabia and the near total recovery of Libya’s oil industry, should cushion oil markets from price spikes and give the international community additional leverage over Iran when new sanctions take effect in July.
“Iraq helps enormously,” said David Goldwyn, the former State Department coordinator for international energy affairs in the Obama administration.
Even if Iraq increased its oil exports by only half of what it is projecting by next year, he said, “You would be replacing nearly half of the future Iranian supply potentially displaced by tighter sanctions.”
For Iraq, the resurgence of oil, which it is already pumping at rates seen only once for a brief time since Saddam Hussein took power in 1979, is vital to its postwar success. Oil provides more than 95 percent of the government’s revenues, has enabled the building of roads and the expansion of social services, and has greatly strengthened the Shiite-led government’s hand in this ethnically divided country.
Oil also has brought its share of pitfalls for the fledgling democracy, fostering corruption and patronage, and aggravating tensions with the Kurdish minority in the north over the division of profits.
The Iraqi government says it can add an additional 400,000 barrels a day of production by next year, and it has announced a goal of producing 10 million barrels a day by 2017.
Few independent analysts say the larger goal is realistic, but oil company executives have been impressed by Iraq’s progress and ambition.

Value of Dinar, Iraqi Dinar Revaluation

WHY BUY DINAR
History is the single biggest indicator we can look at to predict future successful outcomes. Companies do it everyday in their normal course of business when evaluating persons for home loans (credit history, employment history and history of paying bills on time), car loans, business credit. Investment advisors also look at an array of historical items to assess their investment recommendations. These include track record or history of the companies leaders on how they perform, earnings and revenue history. On a more macro (bigger picture) level economic numbers of growth or slowing go into the mix to help make a clearer picture for the future.

Iraq is no different. Let’s look at world history.

World War II – End of WW2 came in 1945. Sixty million (60,000,000) people lost their lives and most of Europe & Asia laid in ruins

Korean War – 1950 – 1953

Vietnam – 1965 – 1973 – 1965 is when the United States sent first troops into Vietnam

Operation Desert Storm – 1991 – August 2, 1990 Iraq invades Kuwait and the United States liberates Kuwait from Iraqi control January – March 1991.

Operation Iraqi Freedom – March 2003 to Present

The United States helped rebuild Germany and Japan after WWII and look at their economies now. The US rebuilt Vietnam, Korea and Kuwait. All countries are significantly more successful today.

But none of the countries above (except Kuwait) had the natural resources Iraq possesses. We have never seen an opportunity like the one that lies before us today. For 5 years now, the United States and the rest of the world have invested hundreds of billions in the rebuilding of Iraq.
Let’s look at the Top ten (10) oil producing countries and where their currency trades:

1. Saudi Arabia 266 billion barrels of reserves - .26 2. Canada 178 billion barrels of reserves - .95 3. Iran 138 billion barrels of reserves - 1/10,000* 4. Iraq 125 billion barrels of reserves - 1/1170 5. Kuwait 100 billion barrels of reserves - 3.48 6. UAE 97 billion barrels of reserves - .27 7. Venezuela 77 billion barrels of reserves - 1/2152* 8. Russia 60 billion barrels of reserves - .03 9. Libya 39 billion barrels of reserves - .81 10. Nigeria 35 billion barrels of reserves - 1/152 or half a penny

Top six countries above are Middle East countries except Canada. Example: Saudi Arabia’s currency is 26 cents for each 1 American dollar, Kuwait’s currency is 3.48 for each American dollar. So each Kuwait dinar is worth 31/2 times the US dollar. Iran’s currency is 1 American dollar equals 10,000 Iranian rial. So this currency is 1/10,000 of the US dollar, which is virtually worthless.

Now, Iraq. Their currency from October 2003 (when the new Iraqi dinar was put in circulation) Iraqi dinars has gone from 3200 to currently 1170. This is an appreciation of 173% over the last 6 years. Here’s the big question.

If you believe the growth in Iraq will continue than the Currency, the Iraqi Dinar, Iraqi dinars should be considered.

Facts To Support Significant Revaluing of the Dinar - SOON!

"Open market operations" are monetary policy tools that affect directly the monetary base; the monetary base can be expanded or contracted using an expansionary policy or a contractionary policy, but not without risk.

The monetary base is typically controlled by the institution in a country that controls monetary policy. This is usually either the finance ministry or the central bank. These institutions print currency and release it into the economy, or withdraw it from the economy, through open market transactions (i.e., the buying and selling of government bonds). These institutions also typically have the ability to influence banking activities by manipulating interest rates and changing bank reserve requirements (how much money banks must keep on hand instead of loaning out to borrowers).

The monetary base is called high-powered because an increase in the monetary base (M0) can result in a much larger increase in the supply of bank money, an effect often referred to as the money multiplier. An increase of 1 billion currency units in the monetary base will allow (and often be correlated to) an increase of several billion units of "bank money". This is often discussed in conjunction with fractional-reserve banking banking systems.

So now we know there are monetary tools that affect directly the monetary base. Monetary Base are the notes & coins that are in circulation. The monetary base can be expanded or contracted using two different methods.

First Method: "Expansionary Policy" (Expanding / Printing More Money)
http://en.wikipedia....monetary_policy
"In economics, expansionary policies are fiscal policies, like higher spending and tax cuts, that encourage economic growth.^[1] In turn, an expansionary monetary policy is monetary policy that seeks to increase the size of the money supply. In most nations, monetary policy is controlled by either a central bank or a finance ministry." We already know how a country can "expand" their monetary base / currency in circulation. They print more money. This is exactly what Iraq has done ever since 2003 when they released the new IQD's and put them into circulation. I believe they started with about 6 trillion Dinars back in 2003 but for arguments sake we will stick with the facts. In 2004 IndexMundi states that they had 10,244,220,000,000.00 Iraqi Dinars in circulation. That is a little over 10 trillion dinars.
http://www.indexmund...acts/iraq/money

Now we know that the CBI has the ability to "expand" and has in fact "expanded" their monetary base from 10 trillion Dinars to 30 trillion Dinars in a matter of 4 years! That is a lot of printing...


Second Method: "Contractionary Policy" (Contracting / Decreasing Money in Circulation)
http://en.wikipedia....monetary_policy

Monetary base
Contractionary policy can be implemented by reducing the size of the monetary base. This directly reduces the total amount of money circulating in the economy.

A central bank can use open market operations to reduce the monetary base. The central bank would typically sell bonds in exchange for hard currency. When the central bank collects this hard currency payment, it removes that amount of currency from the economy, thus contracting the monetary base.

Iraq's Currency Auctions They sell U.S. dollars to the banks and receive Iraqi Dinars. This happens ALL THE TIME. When the central bank collects this hard currency payment, it removes that amount of currency from the economy, thus contracting the monetary base. This is our key to a significant RV, PERIOD!


Effectively DESTROY BASE MONEY: Process
Since most money is now in the form of electronic records rather than cash, open market operations are conducted simply by electronically increasing or decreasing ('crediting' or 'debiting') the amount of base money that the bank has in its reserve account at the central bank. Thus, the process does not literally require new currency. (However, this will increase the central bank's requirement to print currency when the member bank demands banknotes, in exchange for a decrease in its electronic balance.)

When there is an increased demand for base money, action is taken in order to maintain the short term interest rate (that is, to increase the supply of base money). The central bank goes to the open market to buy a financial asset such as government bonds, foreign currency or gold. To pay for this, bank reserves in the form of new base money (for example newly printed cash) is transferred to the sellers bank, and the sellers account is credited. Thus, the total amount of base money in the economy has increased. Conversely, if the central bank sells these assets in the open market, the amount of base money that the buyer's bank holds decreases, effectively destroying base money.


I have provided tons of links and facts for the naysayers or for those who base their decisions off of logic and reasoning. I've provided this information as I believe  it proves that a significant RV is probable. It proves all of the "naysayers / LOPsters" wrong. The biggest argument (which is valid and played a huge role in all of this) is the amount of currency in circulation. Well this thread proves that by using Contractionary Policy the CBI can decrease the Money Base (currency in circulation) through Open Market Operations which also can be referred to as Currency Auctions.

Thank you for taking the time to read through this.

Iraq Halts Plans To Drop 3 Zeros From Dinar

Iraq Halts Plans to Drop 3 Zeros from Dinar

Posted on 20 May 2012.

Iraq has decided to hold off on a plan to knock three zeros off the nominal value of bank notes of its currency because it does not believe the economic climate is suitable, reports Reuters.
The central bank said last August that it planned to redenominate the Iraqi dinar to simplify financial transactions in an economy that is still heavily centralised and dominated by oil, and where deals are often carried out in cash.
The proposal to restructure the dinar to bring more liquidity into the market has been awaiting parliamentary approval since last year.
On Thursday, a statement on the website of the cabinet secretary said the cabinet had decided to halt all procedures relating to the redenomination of the dinar “until further notice”.
“The economic committee discussed this issue and so did cabinet … There is a possibility that it could cause some problems in the economic situation. Besides that, this operation is so big that cabinet sees circumstances are not right to control this,” cabinet secretary Ali al-Alaq told Reuters.
“We have more than 30 trillion dinars in circulation. To withdraw this amount from the market and then to examine them and to dispose of them is a huge process. Even the technical and the monetary capabilities to control a process like this, we consider as insufficient and it is not seen as a priority currently,” Alaq said.
The central bank says Iraq’s large foreign reserves, which have risen to a record $60 billion on the back of high oil prices, will shield it from any damage to its financial system on the national level.

What You Should Know About Iraqi Dinar Speculation

What You Should Know About Iraqi Dinar Speculation

As Iraq continues to recover and experience tremendous growth, many individuals are beginning to wonder if speculating in Iraqi Dinar would be wise. At the present time, the dinar holds very little value, which means it can be purchased for very little money. It is indeed legal to purchase this currency, and sell it whenever you wish. If you decide to make a purchase, you will of course want to hold onto the currency until the value increases and you can make a profit.
Are there any guarantees that the dinar will increase in value? No. As with any currency type, there are various conditions that will determine the eventual value outcome of the dinar. Those who follow the news out of Iraq will however be able to note the improvements that are taking place in Iraq right now. For many, these improvements alone are a strong indicator as to what the dinar may do next. You may think of it in the same manner as the US dollar, which has lost ground due to declined economic conditions.
Should you decide to purchase dinar, the amount you would like to purchase will be entirely up to you.  There are fakes in existence, so it will be to your advantage to perform some research on the source you plan to purchase from. Once you have it, you may want to store it in a safe place, such as a bank deposit box, or other secure facility.

Iraqi Dinar Revaluation

Iraqi Dinar Revaluation 2012

The Iraqi dinar revaluation will determine how much value the dinar has. The exact date of this revaluation has not been announced. However, many currency specialist feel that it will take place soon. Indicators point to an increase, but again, there are no guarantees. It is highly advisable that you spend some time researching the possibilities so that you will be able to make an educated purchasing decision.

In order to track the value of the dinar, log into www.loot4gold.blogspot.com. You will want to monitor value changes on a regular basis, as you will want want to miss the chance to sell your dinar should it spike in value.
If at any point you wish to sell your dinar, you will find that plenty of companies will purchase them from you.[HINT: Loot 4 Gold]. Again, you will want to select a reputable company to ensure a smooth transaction, and the best rate for your dinar. Both buying and selling are easy tasks, so long as you take the time to consider those you wish to conduct this business with.

Predicting the Future of the Iraqi Dinar

It may seem that predicting the future of the Iraqi dinar is impossible. While it is true that the value of this, and all types of currencies, are subject to change at any times based on specific events or conditions, there are ways to determine where the dinar may be headed. Knowing the facts will help you determine if you wish to purchase dinar, and if so, how much money you wish to speculate with..
Consider following the most current Iraqi dinar news if you wish to make predictions about the future of this currency. New is the absolute best source, as it is based on fact and not speculation. The events that are going on inside Iraq at this moment do make a difference. Many of the predictions about the sharp rise in value of the dinar are based on the amazing growth that is taking place within Iraq at this time. The United States is playing a role in this, and there is no denying that when help is being received, more progress can be made.

Iraqi Dinar in 2012

Another topic that is currently open to questions is when the dinar revaluation will take place. There are many indicators that point to this happening soon, as it should benefit the country greatly to have a currency that is valued correctly. At the time of revaluation, many questions will be answered. Should the value increase greatly, those who currently own dinar will be in the prime position to make a handsome profit. It will not be too late to make a purchase one the revaluation has taken place. However, the profit margin will certainly be slimmer.

Many feel that the dinar is currently undervalued by a substantial amount. The price to purchase dinar is indeed, quite low at this time. It will be up to you to determine the potential risk and reward ratios. However, the low price of dinar will allow many to take a chance without risking a great deal of funds. Some investors are purchasing millions of dinars, while others are taking a more cautious approach and purchasing smaller speculative amounts. There is no right or wrong here, only what you feel comfortable with.
There are no laws that state this currency can be purchased. Therefore, anyone who wishes to purchase dinar at this time may do so.
Dinar information is available from many sources online. Those who are considering this purchase will want to read as much information as possible in order to try to determine what the value of this currency will be in the future. As with any investment, there will be risks. Minimizing risks is simply a matter of being as educated as possible prior to risking your money. Once you sort the fact from fiction, you will be able to have a clearer picture of what to expect from the dinar in the near future.

The Central Bank of Iraq Website

http://www.cbi.iq/

Up to date information directly from the Central Bank of Iraq.

Where We Are as of April 9th 2012

WHERE WE ARE AS OF APRIL 9, 2012 – THE POLITICAL CRISIS AND SHABIBI’S CHOICES

As many of you may be aware I gave an analysis of the situation on March 27 in which I speculated that Shabibi would be forced to pull the trigger on the RV by the end of April.


I wrote that before the most recent events occurred and would like to revise my feelings on the matter with this post.
There are two significant issues that have impacted my thinking since the last post. The first is the recent movement toward a “no confidence” vote against Maliki, with the attempt being to remove him from office.


The second is the dispute over the CBI and to whom it is supposed to report for approval on the RV.
I will address each of these matters in turn, after which I will give my current view on the RV in terms of potential timing.
It is now clear that there is a ground swell of concern about the increasing accumulation of power by Maliki. Most recently he has attempted to take over the CBI by having Shabibi fired.


This, added to the fact that he still is running the Defense, Security, Interior, and Intelligence Ministries by himself, has now brought several of the opposition groups to the point where they are now openly talking about attempting to remove Maliki from power.
From Maliki’s point of view, he has called all of this talk a “whirlwind”, apparently implying that it will all blow over and that he will survive whatever attempts may follow to remove him.


On the other hand, there is increasing pressure mounting from the opposition. In particular, Iraqiya has announced publicly that it is fervently attempting to come up with the 163 votes necessary to vote “no confidence” in Maliki which would remove him from his position as Prime Minister.


In addition, Mr. Barzani was bold enough to discuss the removal of Maliki openly to the press from Washington, D.C., where he was meeting with Vice President Biden. He was so bold that he claimed outright that Maliki was attempting to become a dictator just as Saddam Hussein had done in the last decade.


Added to this, however, is a statement from the National Alliance faction. This group, you may recall, had joined with the State of Law (Maliki’s party) to form a super alliance that gave him enough votes to win the election in March of 2010, even though he did not have even a plurality of votes (Allawi of the Iraqiya List actually had more votes than did Maliki).


The National Alliance has called for a change in the Prime Ministership but has not gone so far as to call for a new election. Presumably they would prefer Maliki to step down in favor of another Shiite from within the State of Law/National Alliance coalition.
In any case, it seems to me that these opposition groups are almost in a position to obtain the 163 votes necessary to oust Maliki. Iraqiya has 91 votes, the Kurds have about 43 votes, and the National Alliance has about 50 votes, as I recall If they all banded together, then Maliki would potentially be voted out of office.


I believe that Iraqiya and the Kurds are prepared to act on the “no confidence” vote, but I don’t think they will act until they are convinced that the National Alliance will go along with them. The last thing they would want is to call for a vote and have Maliki squeak out a victory!


Therefore, I suspect that it will be at least a week or two before this comes to a head. It will take this long for the various factions to discuss the matter privately among themselves and come to a consensus.


The main reason that the National Conference was not held was because they could not even agree on the agenda of the conference. In addition, even if they had agreed on the agenda (Allawi tried to set it at least once) there was no indication from Talibani’s point of view that the Conference would be successful.


Therefore it was postponed indefinitely. I also read that if it had been held there was a good chance that Maliki himself would have boycotted the Conference. Obviously that would not have been productive, to say the least.


My opinion is that the situation is therefore tenuous, at best.


Maliki is as intransigent as ever. In addition, he has a tremendous amount of power accumulated and will be difficult to remove, even if the “no confidence” vote is made and is successful.


I do not believe that this will lead to civil war, however, in spite of the fact that Barzani clearly made the statement that this is a crisis for the country. I say this because I believe that Maliki has deservedly earned the disgust of the majority of the people of the country.


I believe that he will not be able to retain the allegiance of the army, given the supposition that the opposition would be up to ¾ of the parliament. It seems to me, then, that when “push comes to shove” Maliki would be forced to step down. There is some evidence that he would be arrested for war crimes in that scenario.


However, it may be premature to talk about a “no confidence” vote. After all, this politician Maliki has been around for a long time, and there is no evidence whatsoever that he will just lie down and give up. This is the import of his words calling all of this brouhaha a “whirlwind,” in my opinion.


The question then is this: just how will he manage to defuse this political crisis? This question becomes all the more imposing when we recognize, again, the simple fact that Maliki does NOT compromise.


From an outsider’s point of view it would appear that this is a crisis that could collapse the democratic process in Iraq. It is my opinion, and I agree with Kaperoni on this, that both the United States administration and the UN (Ban Ki-Moon in particular) are deeply desirous that the “experiment” in democracy in Iraq be maintained, if even only as a shell of a real democracy.


Therefore, I believe that external pressure will increase on Maliki. Evidence of this seems clear in that Barzani was invited to visit with Biden and did not mince his words when the meeting was over.


In addition, Barzani is now in Europe having meetings with other leaders there as well. It seems obvious to me that he is attempting to build a ground swell of support from outside the country at the same time that Allawi and Talabani are working for a similar ground swell from within the country.


The outcome of this crisis is yet to be determined. I will speculate on some possible outcome scenarios after I discuss the issue of Shabibi.


Mr. Shabibi is a very talented and capable head of the CBI. He has attempted to walk a tightrope with the Maliki administration for nearly 2 years now. It seems clear to both Kaperoni and myself that he has been ready to revalue the dinar for several months now.
He has delayed doing so primarily, in my opinion, because of the crisis in the failure of the GOI to get finally formed. In other words, he has been waiting on Maliki, thereby giving Maliki the practical “keys” to the RV.


Maliki, as I have stated before, has his own agenda. I have always believed that he has withheld the RV as a “quid pro quo” for getting release from Chapter VII from the United Nations. I was quite honestly surprised that he did not accomplish this goal when he went to Kuwait.
He signed a number of documents that gave the appearance of a significant compromise. After thinking about this further, however, I’ve come to the conclusion that there was no significant compromise on his part.


Instead, he cut a deal with the Kuwaitis that had already been agreed to some months prior. In this case, they just decided to put it all on paper. You may recall that Kuwait has been in favor of getting Iraq out from Chapter VII for some time now, so the “show” that Maliki made by going to Kuwait was not groundbreaking.


It was just a formalizing of their own previously held positions, in my opinion. In other words, Maliki did not change.
We must now ask ourselves if Maliki was ever ready to allow the RV.


At this point I do not believe he ever gave Shabibi the authority to do so. Had he done so he would not be having to justify his current position and the Cabinet would not have sent him a letter stating that he needed their approval.


This situation is getting complex, just as the Maliki power grab is complex. We have Shabibi firmly convinced that he has the authority from within the CBI laws alone to act on matters of monetary policy.


Admittedly he believes that he is obligated to report to both Parliament and to the Government, but he does not believe that he has to have their approval, or he believes he already has it. For our concern it doesn’t matter which is correct; what matters is that Shabibi feels he is right.


The Parliament is on record stating two things: first, they claim that the CBI should correctly be reporting to THEM and not to the Government. That statement was made recently.


However, in addition to that statement a second statement was made by a key member of parliament. That statement quite clearly said that the Government should leave the CBI alone and allow it to continue to formulate and enact monetary policy.


Furthermore, the Parliament is on record now stating that it FAVORS the actions of the CBI during the last few years and is impressed at the consistency of the CBI in controlling inflation and handling monetary policy.


All of this sounds great, but unfortunately there is another shoe to fall.


On January 18 of this year the Supreme Court stepped into the fray and stated that the CBI reports to the Government. It was quite clear in its interpretation of Section IV, article 110, paragraph 3 of the Constitution. It specifically stated that the CBI was not autonomous.


Here is the statement:
“The Federal Supreme Court issued a decision in January 18 this provides a link independent bodies referred to in the Iraqi constitution, including the Central Bank under the chairmanship of Prime Minister directly, not under the chairmanship of the House of Representatives, and the decision came at the request to show a link bodies of Cabinet Office submitted to the Federal Court in second week of December last year. “


http://translate.googleusercontent.com/translate_c?hl=en&ie=UTF-8&sl=ar&tl=en&u=http://www.alsumarianews.com/ar/1/16445/news-details-.html&prev=_t&rurl=translate.google.com&usg=ALkJrhga9SQCMlQAADO_OutPAcnD6jWn7g


Furthermore, a federal judge reiterated that position in a letter sent directly to the CBI just last week.


We know from past experience that Maliki has the Supreme Court in his back pocket, so we shouldn’t be surprised at these statements made by this body. However, in my reading of the Constitution it seems to me that the Supreme Court is actually right on this matter, in spite of what the by-laws of the CBI state. In other words, according to the Constitution of Iraq the CBI is NOT like our Federal Reserve in this matter.


Whether my opinion is correct or not is not significant. What IS significant is how it is handled in Iraq. IF Mr. Shabibi acts on his belief that he is autonomous, he could be arrested or charged in some manner.


Assuming that he acted by revaluing the currency, it is possible that the Supreme Court could immediately vacate his decision, based upon their previous warning of January 18. Therefore, it is unlikely that Shabibi will act on his own, in my opinion.


It is possible that he could go to Parliament and obtain a resolution from that body that would authorize the RV. However, given the Supreme Court’s ruling, it is not clear to me that this would be sufficient to protect Shabibi, or the RV.


Therefore, it is my opinion that Shabibi will have to work with the Government in some manner to affect the RV. This means, ultimately, that he will have to obtain approval from Maliki.


Having said that, we are now back to Maliki alone. Given his current political crisis problems I suspect that the RV is NOT high on his list of priorities. Therefore I doubt that we will see any action on the RV unless and until the political crisis is resolved.


This brings me back to the crisis itself and the opposition’s attempt to vote Maliki out of office. I believe that our focus should be directed at this crisis from this point forward. If the vote is unsuccessful then we would look toward the release from Chapter VII as our next key date, after which we MIGHT see an RV.


If, on the other hand, the “no confidence” vote is successful, then we will have to see how the removal of Maliki is affected, and the timing of the same. Assuming the most positive scenario, Maliki would be forced from office in short order. In that case some form of political process would have to be implemented to replace him.


This would probably mean that new elections would be scheduled and that would mean at least a 4 to 6 week delay. In the interim, however, it is possible that a National Conference could be held in which Talabani could be named the interim leader of the country.


Given that scenario it is likely that Shabibi would attempt to work closely with Talabani to get the RV done. It is my opinion that Talabani would agree to the RV because of the positive affect that it would have on the economy and the good will of the people.


All of this speculation is based upon a series of assumptions, any one of which could derail the entire thing. Therefore, rather than speculating on a next possible date for the RV it is my opinion that we should concentrate our energy on seeing how the political crisis unfolds. I do NOT believe Shabibi will act prior to a resolution of this crisis.