Maragondon, Cavite

notable landmarks:
Parish Church of the Assumption of Our Lady
Pico de Loro point
Mt. Marami
Mt. Buntis
Parish Church of the Assumption of Our Lady (Maragondon, Cavite). The church was built in the early 18th century by the Jesuits, with later additions by the seculars and the Augustinian Recollects. Much of the church and belltower, and the lower portion of the convento is made of irregular river stones, indicative of the early level of technology operating at that time.

The intricately-carved retablos, pulpit and church doors (with galleons and floral designs) date from Jesuit times, while the hugely carved beams crossing the nave were installed by the seculars-- one of the beams even carries the name of the indio priest who commissioned them. The unusual horseshoe-shaped communion rail, with a flooring of inlaid wood of various colors, recalls that of San Sebastian Church, Manila, another Recollect construction.

This place is almost 15deg NE, ideal bearing for the paranormal beliefs of the japanese. pag nagtatago sila ng kanilang mga nakulimbat na yaman ng mga bansa. Ayon ng mga matatanda dito ay di kayang bilangin ang mga ssundalong hapon ang nangamatay sa dakong ito , meron silang mga hospital at mga training grounds sa area na ito. Ngayon Ang JICA isang grupo ng mga hapon , Bechtell isang american Firm at si Pangulong Arroyo kasama na ang mga lokal na pamahalaan ang nagsusulong na gawing lanfill ang area na ito. dati gwardyado ng grupo ni marcos ang dakong ito.Ngayon sila naman. until now balikatan joint forces still exercising in this area. ang world bank at si dating pangulong Ramos ay lagi ring nakamonitor sa lugar na ito. Walang ganyanan!
Jet7

1921 Olongapo Fire
Large building or barracks engulfed in fire. Card is posted Jan 14 1921
Olongapo Zambales to Independence Missouri. Sender also notes writng from Olongapo. Among the folks watching the blaze seems to be a US sailor.

American POW died at a Japanese Prisoner of War Camp on Mindanao Island, Philippines.
This photo shows the position in which a white man, emaciated, died while trying to get a drink of water. this was at the Davao Penal Colony Hospital.

1945 American Forces Bomb Corregidor Island

USS Flier (SS-250)
Lost on August 13 1944 with 78 US Navy Submariners killed
Sunk by Japanese Mine South of Palawan in Balabac Strait
(www.Balabac.COM)

USS Harder (SS-257)
Lost August 24 1944 with 74 US Navy Submariners killed.
Sunk by Japanese Luzon Coast Defense Vessel No.22
Off West Coast of Luzon - Philippine Islands

Real Sumatra Indonesian Gold Bars 999.99 Refine Gold circa 1940s

Yamashita Treasures STONE MARKER

LOS BANOS RESCUE 1

Yamashita Treasures X Stone Marker

10 nice things to say about Marcos
On his 20th death anniversary
By Benjamin Pimentel

CALIFORNIA, United States—Imelda Marcos reportedly expressed hope that someday her late husband also would be honored in the same way, perhaps at a state funeral. Having grown up during, and survived, the Marcos regime, Imelda’s wackiness no longer surprises me. But her wish left me with a jaw-dropping realization: They haven’t buried that dictator!?! This month marks the 20th anniversary of Ferdinand Marcos’s death. He died in exile in Hawaii in September 1989, three years after being chased out of Malacanang. But the dictator’s remains are still lying in a refrigerated crypt somewhere up north. Someone should tell the dictator’s handlers that what he said was, “I do not intend to die,” not “I do not intend to be buried.” Still, in the spirit of reconciliation, and since we have just relived the glorious days of the People Power Revolution, bid farewell to Cory Aquino, and commemorated the martyrdom of Ninoy, it’s perhaps time to also focus on the positive side of the late strongman. Besides, it is also Marcos’s 92nd birthday (September 11) and the 37th anniversary of the imposition of Martial law (September 21). What can I say—September has really been an unlucky month for us. So allow me to present my list—and, believe me, I tried real hard to come up with these—of the 10 nice things one can say about Marcos.

1. Marcos taught us to disdain bullies. Ferdinand Marcos was not the first, or the last, president to abuse his power. But, certainly, he set a seemingly unbreakable record. The nightmare of his 21 years in power still haunts us today, a powerful, constant reminder of a chapter in our history that must never be repeated.

2. Marcos taught us to disdain leaders who flaunt their wealth. Marcos and Imelda did not invent wealth-flaunting. The elites have been doing that for generations well before he came to power, and it’s still happening today, of course. But the Marcoses certainly took the brazen display of extreme affluence, in the face of extreme poverty, to a new low. I mean how can how one justify owning 3,000 pairs of shoes?

3. Marcos taught us to be suspicious of leaders who acquire wealth. The current president just ran into this problem, of course. And the last one too. Yes, politics is still widely-considered as an easy road to easy money, but too much greed is now generally accepted as dangerous to one’s political career. And we have to give credit to Marcos for this, for making Filipinos extremely suspicious of political leaders who suddenly get rich.

4. Marcos taught us to disdain politicians who brazenly cheat in elections. Now, I said “brazenly.” For yes, election Philippine-style is still dirty. But given our experience with Marcos, there’s a line, especially in national races, that I suspect candidates will not cross for fear of sparking a severe backlash. (Or maybe not.)

5. Marcos taught us to be suspicious of leaders who warn the nation that because of some unspeakable danger to the country they simply must have more power. “Emergency powers” and “martial law” are two phrases any Philippine president must use with extreme caution nowadays. If not, you run the risk of facing ordinary Filipinos asking: “What was that again Mr./Madame President? You say the communists, the rightists, the terrorists are about to attack? Oh, and the Martians too, perhaps? And that’s why you need to throw all these people in jail, shut down all these newspapers and TV stations and kill those who say you’re a corrupt liar? Sir/Madame, I think we’ve seen this movie before. Napanood na ho ata naming ‘tong sineng ito.”

6. Marcos taught us that there is a big difference between discipline and fear. “Sa Ikauunlad ng Bayan, Disiplina ang Kailangan (For our nation to develop, we need discipline).” That was the regime’s slogan for Marcos’s New Society. It worked for a time, mainly because people knew that by discipline, the dictator meant, “Shut up and submit, or else.” It got so bad that one US official observed that the Philippines in the 70s and 80s had turned into a country of “40 million cowards and one SOB.” Well, Filipinos were willing to let that be the case only for so long.

7. Marcos showed that friendship with powerful world leaders is no guarantee that one can hold on to power indefinitely. Oh, Marcos and Imelda look so happy and proud in photographs with Ronald and Nancy Reagan. They were friends after all. Reagan even sent his Vice President George H.W. Bush to Manila to praise Marcos’ “adherence to democratic principles.” Well, a few years later, the dictator was gone after the Reagan White House finally realized he had turned into a liability.

8. Marcos taught us to be wary of leaders who try to glorify themselves in songs, slogans, or big, ugly monuments. I was actually thrilled when Marcos imposed Martial Law in 1972. I was eight years old when it happened, and for a few weeks I didn’t have to go to school and there was nothing on TV but cartoons. But then, once back in school, my schoolmates and I had to learn these new weird songs about the new order and how everything was great about the regime. And then there’s that gigantic bust up north. I’m glad nobody blew it up as some groups reportedly planned to do. For it stands as a powerful reminder of the twisted mind that once ruled our country.

9. Marcos taught us to be creative—in fighting back. Only in the Philippines could yellow confetti become a symbol of protest. And nuns praying the rosary in front of tanks—you just won’t find such an act of defiance in other places. But even before the People Power Revolt, during the darkest days of dictatorship, Filipinos were already coming up with creative ways to defy the regime. Students at the University of the Philippines used to launch lightning rallies, in which they march from one floor of Palma Hall to another, while yelling slogans and waving banners, and then quickly putting the banners away and dispersing before the cops showed up. Even the artists dared try new things. Take my old boss and drinking buddy, the poet Pete Lacaba, who wrote a seemingly harmless, apolitical poem titled “Prometheus Unbound.” When read vertically, the first letter of every line said, “Marcos, Hitler, Diktador, Tuta”—the famous anti-dictatorship slogan, “Marcos, Hitler, Dictator, Puppet.”

10. Marcos made us laugh and helped demonstrate that, even during dark times, Filipinos can still maintain a healthy sense of humor. Marcos and his crazy war medals. Imelda and her theory of a hole in the sky above the Philippines through which cosmic rays pass to protect the country from disaster. Admit it, Marcos and Imelda made us laugh. If it weren’t for all the people who died and suffered during the regime, we could look back to that time as funny and fun years. Marcos and Imelda jokes kept us entertained even as we endured tyranny. And we didn’t even have cell phones back then for speedy mass distribution. I distinctly remember a classic during one of the rallies after Ninoy’s assassination and Marcos’s face often looked swollen as he reportedly battled lupus. The protest poster read: “Mamaga sana ang mukha ng nagpapatay kay Ninoy. (I hope whoever had Ninoy killed gets a swollen face).” Well, it’s funnier in Tagalog. And without Marcos, what would have happened to Willie Nepomuceno, one of the most talented Filipino humorists ever? He was so good with his Marcos impersonation, that during the critical hours of the 1986 People Power Revolt, when the dictator appeared on TV to prove he was still in charge, there were those who believed it was a ploy—with the popular comedian in the starring role. Of course, Nepomuceno’s career faced a crisis when Marcos was kicked out of the country, and later died. But he quickly bounced back, doing other politicos, including former Presidents Fidel Ramos and Joseph Estrada. Fortunately, like the late tyrant, Willie Nepomuceno did not intend to die. Not much of a list, but can you blame me? It’s tough to say anything nice about a dictator in a freezer. In any case, to Marcos supporters, let me say this: There may never be a grand funeral for the late dictator, with big adoring crowds, a military honor guard, 24/7 TV coverage, and flattering commentary in media. But don’t worry. We will never forget Marcos and what he did to our country. Ever.

ADDENDUM: I spoke too soon. Writer Krip Yuson informs me that someone did blow up the Marcos bust which was heavily damaged by the blast about seven years ago. Krip adds, "A Baguio friend rushed to the site and picked up a bayong of the rubble. I was given two precious pieces, which I keep."

Will Iraq change its currency in the near future?
Youngest Iraqi Boy Victim of Blackwater Massacre
Old IRAQ Village
RED STAR DRILLING OIL IN IRAQ
DONATE SOCCER BALL TO IRAQI CHILDREN
U.S. Shiites tentatively buy into American citizenship

Iraq reclaims a Jewish history it once shunned

Iraqi Central Banker Interview 2007

What Kuwait really Want from Iraq
Iranian Protesters Escape to Iraq

LATEST ON CHAPTER 7 DATED JAN 10 2010

US Orders Blackout Over North Korean Torpedoing Of Gulf Of Mexico Oil Rig

US Orders Blackout Over North Korean Torpedoing Of Gulf Of Mexico Oil Rig

http://www.eutimes.net/2010/05/us-or…exico-oil-rig/

A grim report circulating in the Kremlin today written by Russia’s Northern Fleet is reporting that the United States has ordered a complete media blackout over North Korea’s torpedoing of the giant Deepwater Horizon oil platform owned by the World’s largest offshore drilling contractor Transocean that was built and financed by South Korea’s Hyundai Heavy Industries Co. Ltd., that has caused great loss of life, untold billions in economic damage to the South Korean economy, and an environmental catastrophe to the United States.

Most important to understand about this latest attack by North Korea against its South Korean enemy is that under the existing “laws of war” it was a permissible action as they remain in a state of war against each other due to South Korea’s refusal to sign the 1953 Armistice ending the Korean War.

To the attack itself, these reports continue, the North Korean “cargo vessel” Dai Hong Dan believed to be staffed by 17th Sniper Corps “suicide” troops left Cuba’s Empresa Terminales Mambisas de La Habana (Port of Havana) on April 18th whereupon it “severely deviated” from its intended course for Venezuela’s Puerto Cabello bringing it to within 209 kilometers (130 miles) of the Deepwater Horizon oil platform which was located 80 kilometers (50 miles) off the coast of the US State of Louisiana where it launched an SSC Sang-o Class Mini Submarine (Yugo class) estimated to have an operational range of 321 kilometers (200 miles).

On the night of April 20th the North Korean Mini Submarine manned by these “suicidal” 17th Sniper Corps soldiers attacked the Deepwater Horizon with what are believed to be 2 incendiary torpedoes causing a massive explosion and resulting in 11 workers on this giant oil rig being killed outright. Barely 48 hours later, on April 22nd , this North Korean Mini Submarine committed its final atrocity by exploding itself directly beneath the Deepwater Horizon causing this $1 Billion oil rig to sink beneath the seas and marking 2010’s celebration of Earth Day with one of the largest environmental catastrophes our World has ever seen.

To the reason for North Korea attacking the Deepwater Horizon, these reports say, was to present US President Obama with an “impossible dilemma” prior to the opening of the United Nations Review Conference of the Parties to the Treat on the Non-Proliferation of Nuclear Weapons (NPT) set to begin May 3rd in New York.
This “impossible dilemma” facing Obama is indeed real as the decision he is faced with is either to allow the continuation of this massive oil leak catastrophe to continue for months, or immediately stop it by the only known and proven means possible, the detonation of a thermonuclear device.

Russian Navy atomic experts in these reports state that should Obama choose the “nuclear option” the most viable weapon at his disposal is the United States B83 (Mk-83) strategic thermonuclear bomb having a variable yield (Low Kiloton Range to 1,200 Kilotons) which with its 12 foot length and 18 inch diameter, and weighing just over 2,400 pounds, is readily able to be deployed and detonated by a remote controlled mini-sub.

Should Obama choose the “nuclear option” it appears that he would be supported by the International Court of Justice who on July 8, 1996 issued an advisory opinion on the use of nuclear weapons stating that they could not conclude definitively on these weapons use in “extreme circumstances” or “self defense”.

On the other hand, if Obama chooses the “nuclear option” it would leave the UN’s nuclear conference in shambles with every Nation in the World having oil rigs off their coasts demanding an equal right to atomic weapons to protect their environment from catastrophes too, including Iran.

To whatever decision Obama makes it remains a fact that with each passing hour this environmental catastrophe grows worse. And even though Obama has ordered military SWAT teams to protect other oil rigs in the Gulf of Mexico from any further attack, and further ordered that all drilling in the Gulf of Mexico be immediately stopped, this massive oil spill has already reached the shores of America and with high waves and more bad weather forecast the likelihood of it being stopped from destroying thousands of miles of US coastland and wildlife appears unstoppable.

And not just to the environmental catastrophe that is unfolding the only devastation to be wrecked upon the United States and South Korea by this North Korean attack as the economic liabilities associated with this disaster are estimated by these Russian reports to be between $500 Billion to $1.5 Trillion, and which only a declaration of this disaster being an “act of war” would free some the World’s largest corporations from bankruptcy.

Important to note too in all of these events was that this was the second attack by North Korea on its South Korean enemy, and US ally, in a month as we had reported on in our March 28th report titled “Obama Orders ‘Immediate Stand-down’ After Deadly North Korean Attack” and which to date neither the Americans or South Korea have retaliated for and giving one senior North Korean party leader the courage to openly state that the North Korean military took “gratifying revenge” on South Korea.

And for those believing that things couldn’t get worse, they couldn’t be more mistaken as new reports coming from Japanese military sources are stating that North Korea is preparing for new launches of its 1,300 kilometer (807 miles) intermediate range ballistic “Rodong” missile which Russian Space Forces experts state is able to “deploy and detonate” an atomic electromagnetic pulse (EMP) device, and which if detonated high in the atmosphere could effectively destroy the American economy for years, if not decades, to come.

Iraq to boost oil output 'above 3 mln bpd in 2011

Iraq, which last year awarded 10 contracts to oil majors, expects to add 600,000 barrels per day of new oil to boost output to 3.2 million bpd by end 2011, a top official was quoted as saying.
We expect to increase production by around 600,000 bpd over the course of this year and next," Iraqi deputy oil minister for upstream Abdulkarim al-Laibi told the Middle East Economic Survey (MEES) in its edition to appear on Monday.The country's current oil output capacity stands at around 2.6 million bpd.Iraq, which sits on the world's third largest crude reserves, last year awarded 10 major development contracts to foreign companies in two rounds with the aim of raising output capacity to 12 million bpd by 2017."In general the companies we signed with will make the 10 percent capacity rise for the first round awards and initial production rates for the second round fields within the next two years," Laibi said.The contract for Rumaila, Iraq's largest oilfield, with BP and China's CNPC, is expected to add 100,000 bpd by the end of this year, he said, and others will come on stream gradually.Iraq's oil ministry is organising a major meeting in July with the international oil companies that won contracts to sort out logistical problems facing them, Laibi said.The war-torn nation is also working to expand its crude oil export facilities, including pipelines, to handle as much as 10 million bpd from just under two million bpd currently, he said.Foster Wheeler was working on a plan to expand southern export capacity at the Basra and Khor Al-Amaya terminals to 4.5 million bpd from 1.3 million bpd. Now, the company has been asked to raise the capacity to eight million bpd, Laibi told MEES.Iraq is also working on rehabilitating oil pipelines to Turkey to reach an export capacity of 1.7 million bpd and is considering the possibility of reviving a 200,000-barrels per day pipeline to Syria, Laibi said.Baghdad also plans to award three non-associated natural gas fields for development in September to raise gas production for power generation.

Iraqi banks are hoping lucrative financing opportunities will spring from a series of oil deals Baghdad has signed with global firms, while security remains a big obstacle for investors, an Iraqi banking executive said.
Investors from Lebanon, Iran and the Gulf are eyeing expansion in the banking sector in Iraq, because they want to get “the first foot” in a country where many people still hide their savings under mattresses, Fouad Mustafa, managing director of the Credit Bank of Iraq, told Reuters in an interview.

As security slowly improves and as the war-damaged country moves ahead with its mega oil and rebuilding plans, the Iraqi market is starting to interest foreign banks.

Britain’s HSBC already has a presence in Iraq through a stake in Dar es Salaam bank, and Bahraini, Turkish, Iranian and Lebanese banks have set up shop here.

National Bank of Kuwait (NBK), Kuwait’s biggest bank by market value, owns 75% of Credit Bank of Iraq, while the World Bank’s International Finance Corp owns 10%, and the rest is owned by Iraqi investors. It is listed on the fledgling Iraqi stock exchange.

Kuwait’s Burgan Bank is a majority shareholder in Bank of Baghdad with a 50.6% stake, while Abu Dhabi Islamic Bank, the second-largest Islamic lender in the UAE, has won a licence to operate in Iraq.

“The most important thing is security... Banking regulations are open and policies are very easy, but the security situation makes investors take a wait and see attitude,” Mustafa, who also heads the Iraqi Banking League, told Reuters.
.
Iraqi banks hope that the multibillion-dollar deals signed with international companies to develop Iraq’s vast oil reserves will spur lending and help private banks to flourish, Mustafa said.

“We are all waiting for the oil deals. If we are lucky, I think we could have a boom here like Dubai used to have.”

Credit Bank of Iraq plans to boost its capital to $250mn in 2012 from $100mn now, following instructions issued by the Central Bank of Iraq for private banks to raise their capital over the next two years.

The lender also aims to open about 10 new branches across Iraq in the coming 18 months in anticipation of increasing demand for banking services as foreign firms start operating.

“The oil companies are in south Iraq, so definitely we will go there,” he said. The bank now has 14 branches.

Iraq’s economy is dominated by the state and oil, and its banking sector by state banks. Much of the private banking activity is limited to deposit services and there is a small amount of personal lending.

“People still think that state-owned banks are much safer than the private ones. We don’t have a law to guarantee deposits,” Mustafa said.

Mergers among Iraq’s small private banks, many of which are family owned, is expected over the coming months, he said.

“Most of the current banks are family banks and they can’t afford to pump money, they can’t work without merging,” he said.

Credit Bank of Iraq is not in talks to merge with another lender, but might consider a stake in a local Islamic bank to tap rising demand for Shariah-compliant business, he said.

“Why not? We can at least think about buying one of the existing Islamic banks.”

Tellers at a bank in Baghdad hand out wages to former army officers waiting at a window outside of the bank. Investors from Lebanon, Iran and the Gulf are eyeing expansion in the banking sector in Iraq, because they want to get “the first foot” in a country where many people still hide their savings under mattresses, according to a banking executive

****

The U.S. Embassy in Baghdad is planning to double its ranks as it takes over a host of missions for the military there, according to America's No. 2 diplomat in Iraq.

"If Congress gives us the money we are asking for, this embassy is going to be twice the size it is now. It's not going down, it's getting bigger," said Robert Ford, the deputy chief of mission in Baghdad, in an exclusive interview with The Cable.

As the military continues to drawdown in Iraq, the U.S. Embassy there is taking over many of the "critical missions" that the military has been heavily involved in for years, and fundamental changes in the American role in Iraq are coming. Moreover, the State Department has a very different approach to various issues than many in the military who have served there -- leading to some concerns about the handoff among senior military leaders.

One of the chief missions being handed over is the training of the Iraqi police. The Obama administration has prepared a budget request for that program that would vastly increase the number of people working on police training. That request, if granted, could increase the overall U.S. diplomatic presence in Baghdad from around 1,400 to more than 3,000 total personnel, including contractors, said Ford.

"My biggest problem here is figuring out where are these people going to live, how are we going to get the security for them, how are we going to get food for them, and how are we going to get their mail delivered," he said.

The Baghdad embassy is already the largest in the world and bursting at the seams with people and equipment.

Regarding State's takeover of the Iraqi police training mission, the embassy has worked out the details with the military but the result will look much different from the current mission."It is different qualitatively from what the military has been doing," said Ford.The new police training will focus more on "middle management," to include human resources, operational planning, and building institutional capacity, "rather than showing a new recruit how to wear a uniform and how to shoot a gun," Ford added.Another major change coming will be the reduction and eventually transformation of Provincial Reconstruction Teams in Iraq, the expeditionary units that provide various types of assistance in each and every Iraqi province. Currently there are about 600 civilian and 400 military personnel in PRTs, but when the military guys leave, the PRTs will cease to exist in their current form.

The U.S. will reduce the number of PRTs in Iraq from 22 to 16 by August, according to Ford. After August, the PRTs will shift their focus to more consular and diplomatic duties, he said.

"We understand that there is a utility in keeping a robust diplomatic engagement," he said. "If we get the budget, we will have diplomatic presences in strategically vital provinces. They will have some of the same functions, but we're not going to call them PRTs.""They Are Not Actually Doing the Research"

Some senior military commanders in Iraq and experts back in Washington are concerned that the changes planned by the embassy risk sacrificing U.S. leverage and influence in Iraqi issues. They also allege that State hasn't done the analytical spadework to properly understand the implications of the changes they are proposing."I think there is a self-limiting quality to how U.S. Embassy Baghdad is functioning," said Maj. Gen. Robert Caslen, the recently returned commander of all multinational forces in Iraq's northern region, in an interview with The Cable. "They are not actually doing the research to say this is what we need and if you don't give me this, this is what we are going to have to take away and here is the effect it will have on the effort.""Rather they are going through things and saying this is what we think the piece of the pie is we're are going to get and here is some stuff we could do for that money. That's all fine and good, but if you don't actually accomplish the mission in the end, then you actually fail. What good is that?"For example, Caslen said the PRTs role in actually helping Iraqis in rural areas with reconstruction is vital and abandoning it in any way would be a mistake."The task that [the Iraqis] value more than anything is reconstruction and that clearly is a PRT task," Caslen said. Regarding plans to alter the PRTs away from the reconstruction mission, he said, "That course of action puts our future relationship at risk ... We definitely need the PRTs."Ford rejected the notion that the embassy hasn't done the research and planning needed to understand the implications of the moves. The embassy has worked out a detailed joint campaign plan with Gen. Raymond Odierno, the top military commander in Iraq, for the way forward, he said.An Iraq expert in Washington who travels frequently to the region said that the different approaches to Iraq between the embassy and some in the military reflect their different institutional cultures."State as an organization historically has been about interactions between normal states and about traditional diplomacy. Historically, it's not an expeditionary agency; it's not in their DNA," said the Iraq expert. "So there's always been this tendency in Iraq to try to make the relationship more normal in a way that fits into State's traditional way of doing business."Ford's view is that it's simply time for the United States to start taking its hand off the bicycle seat and let the Iraqis learn to fend for themselves."The Iraqi government, little by little, is growing more capable itself," said Ford. "Therefore, the things that we need to do must adjust. The Iraqis can and should do more for themselves, and frankly, they want to."

********

DUBAI/BAGHDAD: Iraq plans to begin crude oil shipping operations in March as it prepares to export larger volumes of crude in the future, the head of Iraq’s State Oil Marketing Organization said on Thursday. Iraq last year awarded contracts to foreign oil firms that would boost its output capacity to 12 million barrels per day from 2.5 million bpd in 2017. Pumping and exporting the anticipated rise in output presents huge logistical challenges.

“We want to get familiar with this business for the future,” Falah Alamri, head of Iraq’s State Oil Marketing Organization, told Reuters. “We have to prepare ourselves for when exports are three or four million barrels per day in a few years.”

*******

[stardogger] I have been doign alot of reading and research on the Exchange Rate
Mechanisim
[stardogger] i think this most recent news is very promising
[stardogger] if you all understand what Exchange Rate mechanism is
[stardogger] listen
[stardogger] I want you to all listen
[stardogger] if you all go back to the EU
[stardogger] before the euro
[stardogger] same thing happened
[stardogger] the ERM as it is called
[stardogger] was put in place to stabalize all the currencies in the member countries
[stardogger] why would Iraq need to have such a "mechanisim" in place
[stardogger] think
[stardogger] the Gulf countries all would have to be aligned in sync and not be allowed to fluctuiate if Iraq RV's
[stardogger] read this:
[stardogger] Exahange rate mechanism consist of several member currencies, which are fixed against each other. Although minor variations may exist between them in accordance with European Currency Unit (ECU) rate.
[stardogger] all countries will need to be fixed against each other
[stardogger] as NOT TO vary
[stardogger] think if iraq RV's it would have all the surrounding countries in place go crazy
[stardogger] unless they had this "mechanisim" in place
[stardogger] it is very important and if you read between the linkes the CBI stated that the not passing the budjet was to allow the government to obtain the "ERM"
[stardogger] they need to have the ERM in place to have a budjet
[stardogger] the deffinition of ERM is that there are "member countries" that participate as Mechanisim to disallow wide fluxuation of currency values
[stardogger] this would only be needed if Iraq RV
[stardogger] if Iraq was not going to RV
[stardogger] then the ERM would not be necessary
[stardogger] read the first line here:
[stardogger] Exahange rate mechanism consist of several member currencies, which are fixed against each other. Although minor variations may exist between them in accordance with European Currency Unit (ECU) rate.
[stardogger] this is very important
[stardogger] The CBI says the ERM will be in place on the 12th of Ja
[stardogger] Tuesday
[stardogger] so if the ERM is in place on the 12th by deffinition the ERM would mean that the IQD would have to be set to have such "mechanisim" to be in place. Do you understand?
[stardogger] it is an agreement where all member countries agree NOT to spike its currencies by a fluxuation greater than 2.25 percent in either direction
[stardogger] this creates stability so the RV can happen
[stardogger] without this "mechanisim" in place it would be crazy
[stardogger] dont have a rv date, but it wou ld be stupid for iraq to set an erm rate of what it is now. Think about it why would they even need the mechanisim in place if nothing is changing? Make sense?
[stardogger] this erm is big, it is the birth of this alignment of currencies
[stardogger] the next phase will be the gcc
[stardogger] currency
[stardogger] it is all happening just like the euro people
[stardogger] the only thing is one country has its currency so far out of whack that it really can't be done until that is fixed
[stardogger] its all economics
[stardogger] not even oil
[stardogger] if you all study the euro and how that all happened it really helps you understand this all
[stardogger] it wont be soon aurdemus
[stardogger] it will be a way off
[stardogger] but first the region will have to have the mechanism in place
[stardogger] read thsi paste:
[stardogger] The Exchange Rate Mechanism, shortly refer to as ERM, is a method or technique based on the philosopy of fixed currency exchange rate margin. This system was instituted in 1979 for the purpose of ascertaining the exchange rates within European monetary system of European Union(EU). All the exchange rates were based on the ECU (European Currency Unit), before the euro was introduced in the market. The main objective of exchange rate mechanism is to devise a single currency mechanism.
[stardogger] the most important point is the last: teh main objective of the exchange rate mechanism is to devise a single currency
[jtl] is Iraq def going to be part ogf gcc though?
[stardogger] read the last words
[stardogger] YES
[stardogger] by deffinition
[stardogger] READ.[stardogger] Exahange rate mechanism consist of several member currencies, which are fixed against each other.
[stardogger] member countries
[stardogger] read this very carefully
[stardogger] you can't have an erm by your self
[stardogger] this action or mechanism is a collection of the member countries
[stardogger] gulf corrperation council
[stardogger] if iraq rv'd its currency and then did not have this in place kuwait wou ld be at like 9 bucks
[stardogger] it would be crazy
[stardogger] they need to have this mechanisim in place to stabalize the region for the rv
[stardogger] in the cbi statement they said..
[stardogger] 5/1/2010 5/1/2010 6:50pm 6:50 pm The Attorney-Sabah al-Saadi on the mass of virtue that not approving the budget means to give the opportunity for the Government to find the exchange rate mechanism, especially in the twelfth of this month for the maintenance of ministries and government institutions.
[*stardogger] read: "give the government opportunity to find the exchange rate"

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Blackwater Settles Massacre Lawsuit by Paying Families of Dead Iraqis US$100,000 Each

Blackwater says it is “pleased” with the outcome.

By Jeremy Scahill

Two sources with inside knowledge of Blackwater’s settlement with Iraqi victims of a string of shootings, including the Nisour Square massacre, have confirmed to me that Blackwater is paying $100,000 for each of the Iraqis killed by its forces and between $20-30,000 to each Iraqi wounded. One source said it was “an absolute bargain” for Blackwater. Based on the number of dead and injured named in the civil lawsuits, the total amount paid by Blackwater is likely in the range of $5 million. Blackwater has made more than $1.5 billion in “security” contracts in Iraq alone since 2003.

Blackwater’s owner, Erik Prince, recently said his company is spending $2 million a month in legal fees to battle civil and criminal cases and investigations.

Blackwater released a statement saying the company was “pleased” with the ruling. “This enables Xe’s new management to move the company forward free of the costs and distraction of ongoing litigation, and provides some compensation to Iraqi families,” the company said, using its new moniker, Xe.

The Nisour Square massacre was the single deadliest incident involving private US forces in Iraq. Seventeen civilians were killed and more than 20 wounded by Blackwater forces in a shooting the US military labeled a “criminal” action. Among the dead were women and children and some victims were shot in the back as they fled Blackwater’s gunfire.

The settlement was finalized last night in court papers filed by the attorney for the Iraqis, Susan Burke, who brought the suit with the Center for Constitutional Rights. Blackwater is still facing a separate civil lawsuit in North Carolina filed by more victims of the Nisour Square shootings.

Update: I have heard that two of the injured Iraqi plaintiffs received higher payments than the others, including the families of the deceased.

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An Iraqi soldier rides in a M1A1 Abrams tank during the celebration of Iraqi armed forces day in Baghdad January 6, 2010
An Iraqi flag flutters as UH-1 Iroquois "huey" helicopters fly overhead during the celebration of Iraqi armed forces day in Baghdad
Iraqi soldiers take part in a parade during the celebration of Iraqi armed forces day
T-72 tanks are seen in a parade during the celebration of Iraqi armed forces day

Iraqi Army soldiers ride in self-propelled artillery vehicles
Iraqi soldiers lay a wreath at the Monument of the Unknown Soldier during the Army Day celebrations in Baghdad, Iraq
Mi-17 helicopters and BTR-80 armed personnel carriers are seen at a parade during the Iraqi Army Day's 89th anniversary celebration

Over the past 7 days, the Central bank of Iraq has been limiting the distribution of uncirculated Iraqi Dinar to banks throughout Iraq. As a result, there have been very limited amounts of uncirculated currency available in countries neighboring Iraq where US dinar dealers obtain their currency. The recent limitations on the distribution of the uncirculated currency are apparently the result of the Central Bank of Iraq cracking down on bank managers who have apparently been taking extra payments for hording and exporting uncirculated currency

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IRAQI PRIME MINISTER AL-MALIKI QUOTE

“Our abundance of natural resources has positioned us to take full advantage of the current international economic crisis. I strongly believe the New Iraqi Dinar will soon be a respected currency within the global marketplace."

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Ali al-Bakri’s predictions for 2010
Iraq is going to have a good year on the economic front, because of a rise in oil prices. Also, Iraq will enjoy a more secure and stable year because its neighbors will have their own internal problems, and because its politicians will reach consensus.

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Migrant workers, not always welcome, take jobs in Iraq BAGHDAD -- Iraq’s leaders, eager to put war behind them, are encouraging foreigners to come and work but the first to heed the call are not entirely welcome. Bangladeshis, Nepalis and other immigrants from poor countries have become an increasingly common sight in Iraq, long considered a black spot for foreigners due to years of bombings and sectarian conflict since the 2003 US invasion. Some of the immigrants say they feel more welcome in Iraq than elsewhere in the Gulf, where many menial jobs are done by foreigners. “I work 12 hours a day cleaning,” Bangladeshi Abdulsattar Abdul-Khaleq said. “I used to work in the Gulf, but they looked at us like slaves, even though the salary was better. The humanitarian way Iraqis treat us has encouraged us to stay anyway.” But the situation is not as simple as matching up immigrants with jobs. Iraqi officials insist Iraq’s army of unemployed should come first. “We have 1,300,000 registered unemployed… Iraqis have priority for job opportunities,” Labor Ministry spokesman Abdullah al-Lami said. Almost in the same breath, though, he acknowledged why many of the jobs are taken by immigrants. In a country where many people have grown accustomed to often undemanding state jobs that begin at 8 a.m. and end at 3 p.m., doing 12 hours of menial work is anathema. “The Iraqi does not want to work as a servant in a hotel, he wants to be a productive element in the country,” Mr. al-Lami said. Iraqi employers are even more scathing about their countrymen’s work habits, which is why they employ immigrants. “The Iraqi worker is lazy and unprofessional… I’m ready to pay Iraqis, it’s not a question of money. It’s etiquette,” said an Iraqi employer of Bangladeshis in the southern city of Basra, who declined to be named. “You don’t have to supervise foreigners. Ten Iraqi workers need five supervisors,” he added. His workers, like many other foreigners doing menial work in Iraq, do not have work permits. Iraq’s leaders had hoped to see large foreign firms and skilled workers -- not poor immigrants. But the situation suits many employers. Aside from accepting lower pay, the immigrants’ lack of Arabic and social connections means they are less likely to spill secrets and will be easily tracked down if they steal. Most Iraqis count themselves as part of a tribe, a network of family ties employers say may intervene if they sack an Iraqi employee, a dangerous prospect in a country awash with guns. Also, Iraq aspires to the wealth of its fellow oil-exporting neighbours in the Gulf, where an army of South Asian workers serve wealthy Arabs, making foreign employees a status symbol. “The foreign workers have many advantages. They are more obedient, and are loyal because they are foreigners. Their future is tied to their employer, and they do not have tribal or political ties,” prominent tribal sheikh Ahmed Abu Risha said. Bangladeshis in crisp white shirts and black trousers serve tea at his vast reception hall in western Anbar province. The International Organization for Migration (IOM) says some workers are trafficked to Iraq without their knowledge, while others are left stranded and penniless after promised jobs fail to materialize, a common deception across the Middle East. More than 7,000 migrants from 40 countries have been repatriated from Iraq since 2003 under the IOM’s program that it is seeking to extend

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Old Dinar Currency News
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Four years after the U.S. invasion of Iraq, credit cards have come to the country. At least one Iraqi bank is offering the service, unheard of during the Saddam era, to customers. But Iraq is still very much a cash-based society. Many say the find the cards more useful when they're out of the country. Iraqis refer to money as notebooks, because the bundles are so big. In Iraq, the U.S. dollar buys just over 1,200 Iraqi dinars, so going shopping and paying bills requires hauling around big stacks of local currency. The banking system is no more sophisticated. Bank employees lug boxes stacked with 10,000 dinar notes to government offices to pay employee salaries. "For people that we know, we can take some risk and give credit card. For people who have no history we start with pre-paid," said Zaid Mahdi, who is in charge of business development at the Trade Bank of Iraq. He says his bank has issued 15,000 credit cards so far. The Trade Bank has had to start from scratch in a country embroiled in war. "We have to know a client. Things are not like in the west. They just put your Social Security number and they know your credit history," Mahdi said. "We don't have that in Iraq yet." There's a massive billboard on one street corner in downtown Baghdad with the word "VISA" emblazoned on it. This is a typical sight in most countries, but in Iraq the sign, more often than not, elicits blank stares. Mahdi says the bank has only three ATM machines operating in all of Iraq. Progress in the banking is slow, he says, but it is moving forward, despite the uncertain security situation. But it's more than just getting people to use credit cards. "You know there are sometimes problems buying things in the first place," said Ahmed Fadhil, a 26-year-old dentist. "If you want to pay with your debit card … you have to list your address. Sometimes the lists do not have Iraq ...

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Iraqi Dinar Revaluation

December 15, 2009

Will the Iraqi Dinar be revalued?
When will the Iraqi Dinar be revalued?
How will the Iraqi Dinar be revalued?

To put it simply, the Iraqi Dinar is currently worth less than 1/10th of a US penny (Approximately $1000 US dollars buys 1 million Iraqi Dinar). Historically, the Iraqi Dinar has been worth over 3 US dollars for every Iraqi Dinar (Over $3,000,000 US dollars purchased 1 million Iraqi Dinar). Put another way, 1 million Iraqi Dinar is currently worth a little less that 1000 US dollars and historically 1 million Iraqi Dinar has been worth well over $3,000,000.00 US dollars. So, the question is: Will the Iraqi Dinar increase in value? And if so, how? And when?

Let's examine the situation in Iraq and the history of the Dinar. The facts are:

Iraq is an extremely wealthy country when you look at their natural resources and potential GDP. The expert consensus is that Iraq has at least the second largest oil reserves and natural gas reserves in the world. There is strong speculation that Iraq actually has the largest oil and natural gas reserves in the world. Additionally, many people don’t realize that oil from Iraq is some of the world’s cheapest oil to drill and refine—the oil is very “rich” and close to the surface with few impurities or hindrances to drilling. Iraq’s cost of production per barrel of oil is minimal compared to other world oil producers. This all means that Iraq’s profit margins on their oil production are some of the highest in the world. Additionally, Iraq has a vast agricultural system and abundant fresh water supplies from the Tigris and Euphrates rivers---Iraq is known as the “Bread Basket of the Middle East.” Moreover, Iraq has a large and traditionally hardworking productive population. The bottom line is that Iraq has staggering wealth in natural resources and tremendous GNP and GDP.
There is NO WAY the country of Iraq is going to be allowed to decay into a state of instability. Iraq is not Somalia, Vietnam or Rwanda -- It is a strategic Middle Eastern country with tremendous potential wealth. It is in the best interest of every Western country and most Middle Eastern countries for Iraq to succeed as an independent stable economy and country. No Western or Middle Eastern country is going to stand by while Iraqi’s vast oil reserves and wealth fall under the control of a neighboring rouge country or insurgency---it just won’t happen.
The political and economic powers of the world are doing everything possible to stabilize Iraq and bring their economy in line with the rest of the world as soon as possible---this is in the best interest of all nations. World leaders understand that wealth and prosperity in a country lead to stability and increased productivity---people don’t revolt when their needs are being met and their quality of life is improving. One of the fastest ways to stabilize a country is to increase its wealth and the quality of life for the population as soon as possible. The cost of increasing an entire population’s wealth is much less than the cost of war and widespread instability in the oil-rich nations of the Middle East.
The history of the Iraqi Dinar demonstrates strong potential for growth. At one time, the Iraqi Dinar was worth over 3000 times ($3.20/Iraqi Dinar to <.001/Iraqi Dinar) what it is currently worth, while at the same time oil (Iraq’s largest natural resource) was selling for approximately $15 per barrel -- less than 1/5th of today’s price.
Excluding rogue nations (Iran, Syria, and other nations as defined by the US), the lowest exchange rates in the Middle East for countries like Kuwait, Qatar, Saudi Arabia, U.A.E., Israel, etc are no lower than $.26 per Dinar, Sheqel, Dirham, Rial, Riyal, etc. If the value of the Iraqi Dinar increased in value to just the lowest valued currency of the mainstream Middle Eastern countries, it would result in a 260 times increase in value. More simply stated, 1 million Iraqi Dinar purchased for approximately $1000 US dollars today would be worth $260,000 US dollars if the Iraqi Dinar were valued at $.26 US Dollars—the lowest current valuation for a mainstream Middle Eastern country. If the Iraqi Dinar were to reach a value equivalent to its historical rate of $3.20 US dollars per Iraqi Dinar, the value of an approximate $1000 US dollar Iraqi Dinar investment for 1 million Iraqi Dinar would be worth $3,200,000 US Dollars. As a note, the current exchange rate for the Kuwaiti Dinar is $3.44 US dollars for 1 Kuwait Dinar---it would take $3,440,000.00 US Dollars to purchase 1 million Kuwaiti Dinar.
Since its inception in late 2003, the Iraqi Dinar has steadily increased in value—indicating a recovering economy and increase in conversion of natural wealth resources.

The bottom line is that the Iraqi Dinar is currently at an extremely low valuation compared to the US Dollar. The currency has steadily increased in value since inception in late 2003. Iraq is a country with phenomenal wealth potential; and additionally, has the backing and support of the major political and economic powers of the world. There currently seems to be minimal risk that the Iraqi Dinar will decrease in value. The tremendous potential upside return compared to the minimal downside risk seems to make the Iraqi Dinar a compelling investment opportunity worth investigating.

One compelling speculation that may relate to the value increase of the Iraqi Dinar is the actual amount of Iraqi Dinar being held by the United States Treasury Department. A significant increase in the value of the Iraqi Dinar would more than pay for cost of recent US war efforts in the Middle East and greatly alleviate the tremendous debt recently initiated by the US Government. The US Government’s current runaway spending seems to suggest that the US Treasury Department is expecting a massive windfall in the near future that will cover debt. Although this theory seems logical and despite the fact that this theory is parroted by many, this speculation can not be confirmed.

In determining when the Iraqi Dinar will increase in value, all indicators point toward something happening in the near future (next 12 months) if not the very near future (next 3 months). The appreciation of the Iraqi Dinar has been unprecedentedly flat over the past 8 months despite low Iraqi inflation and a weakening US economy and US dollar. The Iraqi economy has been on a continual surge of economic growth for the past couple of years as Iraq has continued to stabilize and rebuild. The news coming out of Iraq from numerous returning military members with various reliable sources indicates a rapid move and increase in valuation occurring prior to, or in conjunction with US troop reductions. Indicators also point to an increase in the Iraqi Dinar exchange rate occurring prior to, or shortly after Iraqi elections. It appears that administratively, the IMF, WTO, and other world financial entities are working in close conjunction with the Iraqi Government to bring Iraq’s financial system online with the rest of the world. The expectation is that the Iraqi Dinar will soon be freely traded through banks worldwide---further accelerating their recovery and economy, and adding to overall stability.

To answer the question of “How” and “How high?” the Iraqi Dinar will revaluate, some speculation is in order. Based on historical precedents, an initial sudden significantly (overnight/over weekend) high revaluation seems very possible. This initial move could be anywhere along the entire spectrum of rumored possibilities from $.01 to $1.49. After this initial revaluation, it seems likely there will be numerous significant incremental increases in valuation over a period of time. This continual increase in value after an initial base valuation will prevent an overwhelming surge on the world financial system. By incrementally increasing the value of the dinar, it will limit the number and amount of Iraqi Dinar exchanges as many investors and currency traders will choose to hold their Iraqi Dinar or purchase more as they anticipate further valuation increases. In other words, a steady increase in the value of the Iraqi Dinar will create a free flowing market as some investors cash-out, others hold on, and others purchase Iraqi Dinar for the first time.

The wealth of knowledge contained in this article came primarily from Ty Rhame, the President of Sterling Currency Group).

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Arrested an Iraqi army force this evening, 3 suspected members of terrorist elements in the district of country, 100 km south of Tikrit.وقال مصدر امني لمراسل ( وكالة انباء الاعلام العرقي/واع ) ان عملية الاتقال جاءت استنادا على معلومات استخباراتية بوجود هولاء العناصرالتي يعتقد انتماءها الى الجماعات المسلحة في احد البساتين في القضاء . A security source told a reporter that the process of Alatqal was based on intelligence information that there Hola Annasralti believed to belong to armed groups in an orchard in the judiciary.واضاف المصدر ان القوة عثرت ايضا على كدس من الاعتدة الخفيفة في نفس المنطقة . The source added that the force also found a pile of ammunition and light in the same area.

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Unidentified gunmen attacked an evening patrol of the Iraqi army في ناحية القيارة 78 كم شرق مدينة الموصل . In hand Qayyarah 78 km east of the city of Mosul.

وقال مصدرامني لمراسل ( وكالة انباء الاعلام العراقي/واع) The Msdramni reporter ان الدورية تمكنت من القاء القبض على 8 من المهاجمين بعد ان اصابت ثلاثة منهم بجروح مختلفة . The patrol managed to capture 8 of the attackers after they hit three of them wounded.

واضاف المصدر ان الدورية كانت في واجب امني على الطريق العام بين ناحية الكيارة ومدينةالموصل . The source said the patrol was in the duty of security on the main road between the hand and Alekiarp Medinpalmousel.

مشيرا الى ان تبادل اطلاق نار حدث بين الدورية Indicating that a shootout occurred between the periodic والمجموعة المهاجمة التي تقدر ب15 شخصا . And the attacking group, estimated at 15 people.

موضحا ان القوة اجرت He pointed out that the force conducted التحقيقات الاولية Preliminary investigation بحقهم لغرض احالتهم الى الجهات القضائية المختصة لينالوا جزاءهم العادل . Right for the purpose of referring them to the competent judicial authorities to receive just punishment. ويذكر ان تلك المنطقة غالبا ما تشهد It is noted that the region has often seen هجمات مسلحة من قبل مجهولون على الدوريات الامنية. Armed attacks by unidentified security patrols.

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Year 2010

A Malaysian company will carry out the Baghdad Media City project at a total cost of $128 million U.S. dollars within a time frame of five years, the head of the Baghdad Investment Commission said on Saturday.“The designs of the project have been made at an estimated cost of $128 million U.S. dollars,” a statement released by the Baghdad Investment Commission quoted its head, Shakir Azeez Shakir, as saying.Shakir pointed out that the project will include the establishment of a media institute, a five-star hotel and up-to-date studios.

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the effects of global financial crisis on the Iraqi Central Bank

by Maytham Laibi Ismail الحوار المتمدنهل يضحي البنك المركزي بالاستقرار ورفع الأصفار؟ Do you sacrifice the stability and the central bank raising the zeros? يرى البعض إن الأزمة المالية أثرت على الاقتصاد العراقي فقط من خلال الانعكاس الذي أحدثه انخفاض أسعار النفط في إجراء تخفيضات متوالية في موازنة 2009، وذلك باعتبار العراق ذو اقتصاد ريعي يعتمد على النفط في تمويل نفقاته، من هنا يرى هؤلاء إن للازمة انعكاسات على أدوات المالية العامة فقط، وان ليست ثمة آثار على الأدوات النقدية، ويذهب هذا الفريق ابعد من ذلك حين يؤكد إن عدم امتلاك العراق لسوق أوراق مالية متطور تربطه بالسوق الرأسمالي قد ابعد اقتصاده عن جملة الآثار الضارة التي واجهت العديد من الاقتصادات. Some believe that the financial crisis affected the Iraqi economy only through the reflection caused by low oil prices in successive reductions in the budget of 2009, on the grounds of Iraq is a cash economy depends on oil to finance its expenditures, from here, they argue that the crisis impact on the financial instruments of public only, and that there are no implications for monetary instruments, and this team goes beyond that to argue that Iraq did not acquire securities market developed with which the capitalist market has kept the economy from the adverse effects of inter faced by many economies. نقول إن الأزمة المالية إذ أثرت في العالم بأسره فان تأثيراتها على الاقتصاد العراقي هي اعمق من مجرد الآثار تلك، والسؤال الذي نطرحه هنا، هل إن الأزمة المالية ستؤثر وتغير من الرؤى المستقبلية للسلطة النقدية ممثلة بالبنك المركزي العراقي؟ Say that the financial crisis as it affected the whole world, the impact on the Iraqi economy is deeper than just those effects, and the question we ask here is that the financial crisis will affect and change the outlook for monetary authority represented by the Central Bank of Iraq? إن الإجابة عن ذلك تتطلب البحث عن اكثر من متغير يحاول المركزي السيطرة عليه، على إن واحدا من أهم تلك المتغيرات هو العملة المحلية وقيمتها، من هنا سنركز على محورين في هذا الصدد، أولهما يتعلق بنظام سعر الصرف المتبع، والثاني يرتبط بقرار رفع الأصفار الثلاث المزمع القيام به مستقبلا. The answer to that required searching for more than the central variable is trying to control it, that one of the most important variables is the local currency and its value, from here we will focus on two axes in this regard, one relating to exchange-rate system is adopted, and the second is linked to the decision to raise the three zeroes to be done in the future. نقول؛ وللإنصاف، إن المركزي استطاع إلى حد بعيد اختيار نظام صرف سليم، استطاع من خلاله المحافظة على استقرار قيمة العملة المحلية أمام الدولار الأمريكي، وذلك من خلال استخدام مزاد العملة اليومي، والذي بموجبه ينزل البنك المركزي مشتريا للدينار مقابل ضخ الدولار إلى السوق، وتحسين الدينار العراقي بتدرج وباستمرار، ضامنا بذلك قوة للدينار العراقي ومبعدا إياه عن شبح التذبذبات التي كانت تواجه الدينار العراقي والتي كانت تنعكس قبل 2003 على تذبذب الاقتصاد برمته، من هنا نجزم إن المركزي قد نجح في سياسة سعر الصرف تلك وطوال الفترة المنصرمة، إلا إن السؤال الذي يواجهنا الآن، هو إلى أي مدى يمكن للبنك المحافظة على رفع ودعم قيمة العملة العراقية أمام الدولار؟ We say; To be fair, that the CBE could quite proper selection of the drainage system, through which he maintain the stability of the value of local currency against the U.S. dollar, and through the use of daily currency auction, under which a buyer down the Central Bank of the dinar against the dollar to the pump market, improve the Iraqi dinar gradually and continuously, assuring the force of the Iraqi dinar and jettisoning him from the specter of fluctuations, which were confronting the Iraqi dinar, which was prior to 2003 reflected the volatility of the economy as a whole, here are certain that the CBE has succeeded in exchange rate policy and that during the period, but the question that facing us now is to what extent can the bank to maintain the lift and support the value of the Iraqi currency against the dollar? وهنا تقفز إلى الذهن ماهية العلاقة التي تربط بين الأزمة المالية العالمية والبنك المركزي العراقي، فثمة رابط قوي بين البنك المركزي و الأزمة العالمية وما أدت من انخفاض في أسعار النفط، السلعة الرئيسة التي تمول دولارات البنك المركزي، فمن خلال تلك الدولارات استطاع البنك تكوين احتياطاته الأجنبية التي تصل إلى أكثر من 21 مليار دولار، والتي عملت بشكل جلي في تعزيز وتقوية موقف البنك في المحافظة على قيمة العملة العراقية، ومن خلال نفس الدولارات تلك يدير البنك مزاد العملة اليومي، نقول هنا إن البنك المركزي وأمام استمرار حدة الأزمة المالية وما تسببه من بقاء أسعار النفط في مستوياتها المنخفضة فانه سيواجه احتمالين، أحدهما هو المساس والتضحية باحتياطاته التي راكمها من العملات الأجنبية، ننبه من خطورة هذا الأمر الذي نعتبره خطا احمر من غير المقبول عبوره، فالعملة المحلية ستكون مكشوفة وبدون غطاء، الاحتمال الآخر هو التضحية بالمحافظة على استقرار وتحسين الدينار العراقي من خلال التضحية بمزاد العملة، وهذا الأمر هو الآخر مرفوض لما سيسببه من رجوعنا إلى حالة الفوضى التي كانت تشهدها سوق الصرف العراقي قبل 2003 ، وكلا الأمران سيؤثر؛ بالمحصلة، بشكل سلبي على دور البنك المركزي في أداء وضيفته الاستقرارية في الاقتصاد الوطني. Here is what comes to mind the relationship between the global financial crisis, Central Bank of Iraq, there is a strong link between the central bank and the global crisis and the resulting decline in oil prices, the main item financed dollars the central bank, it is through those dollars, the bank composition of foreign reserves amounting to more than $ 21 billion, which clearly worked to promote and strengthen the bank's position to maintain the value of the Iraqi currency, and during the same dollars that the World Bank manages the daily currency auction, we say here that the central bank and to the continuation of the financial crisis and of its survival oil prices in the low levels, he will face two possibilities, one is prejudice and sacrifice its required reserves accumulated foreign currency, we should point out the seriousness of this matter, which we consider to be a red line crossing is unacceptable, the local currency should be open and without cover, Another possibility is sacrificed to maintain and improve the stability of the dinar through the sacrifice of the Iraqi currency auction, and this was also denied causing a Rjuana to the chaos that was taking place in the exchange market of Iraq before 2003, both of two things will affect; After all, a negative impact on Central Bank's role in the performance of his guest and the stability of the national economy. ان مهمة البنك المركزي ليست باليسيرة وذلك في ظل مجموعة من المحددات مثل الأزمة المالية العالمية و إدارة اقتصاد نفطي في ظل دولة متحولة إلى اقتصاد السوق الحر وخارجة من رحم أسوأ الأزمات السياسية والأمنية الداخلية. The central bank's task is not easy and that in a range of parameters such as the global financial crisis and management of the economy of oil in a state turning into a free market economy, emerging from the womb of the worst political crises and internal security. من هنا فان على المركزي البحث عن مخرج متأن من تلك الأزمة، واختيار نظام صرف مستقر، اكثر مرونة واكثر استجابة لمتطلبات المرحلة، نحن هنا إذ لا نذهب بعيدا في شن حملة على سياسة المركزي التي نعتبرها حكيمة طوال السنوات المنصرمة؛ كما تعمد إلى ذلك أطراف متعددة الآن، إلا إننا نشد على يد المركزي في البحث عن وسائل مستحدثة حكيمة وطويلة الأمد تجمع بين هدف الاستقرار الاقتصادي الذي يعد هدفها الأصيل واهداف الاقتراب من أنظمة أسعار الصرف المرنة والمدارة. Hence, the CBE careful search for a way out of this crisis, and selection of an exchange rate stable, more flexible and more responsive to the requirements phase, we are here do not go as far in the campaign on the policy of the Central, which we consider prudent over the past years; as deliberately to that multiple parties now, but we squeeze by the central in the search for novel ways wise and long-term goal of combining economic stability, which is its original approach and goals of the flexible exchange rate regimes and managed. السؤال الآخر الذي يقفز إلى الذهن هو: هل ثمة آثار للازمة العالمية على إعادة النظرِ في مشروع رفع الثلاثة أصفار من الدينار العراقي والذي كانت أطراف عدة قد بدأت بالترويج له، مثل البنك المركزي العراقي ووزارة المالية؟ Another question that jumps to mind is: Is there any effects of the global crisis to re-examine the project of raising three zeros from the Iraqi dinar, which was several parties have begun promoting it, such as the CBI and the Ministry of Finance? يبدو ان الإجابة عن هذا السؤال لن تكون سهلة، أقول هذا لان انعكاسات الأزمة على الاقتصاد العراقي يصعب رصد اية نتائج نهائية بشأنها، فعدا عن الأثر الذي أحدثته الأزمة على انخفاض أسعار النفط وما أدى إليه من تداعيات خطيرة تمثلت بإعادة النظر في الموازنة العامة من ناحية إعادة هيكلة نفقاتها وتخفيض تلك النفقات لاكثر من مرة في موازنة 2009، فانه من الصعب بمكان التنبؤ بآثار أخرى لتلك الأزمة على الواقع العراقي. It seems that the answer to this question would not be easy, I say this because the implications of the crisis on the Iraqi economy is difficult to monitor any definitive conclusions thereon, Aside from the impact of the crisis on low oil prices, has led to grave consequences was to review the budget in terms of re restructuring expenses and reduce those expenditures to more than once in the 2009 budget, it is difficult to predict other consequences of that crisis on the Iraqi reality. معلوم انه تم تقديم مقترح من وزارة المالية إلى البنك المركزي برفع ثلاثة أصفار من الدينار العراقي، وقد تمت الموافقة عليه من قبل البنك المركزي، حيث تحدث الأخير عن إستراتيجية بعيدة المدى تهدف إلى تحسين وضع العملة العراقية من خلال حذف ثلاثة أصفار منها، وتقوية أنظمة مدفوعاتها انسجاماً مع التطور الاقتصادي الحاصل في البلاد. Well known that it was a proposal by the Ministry of Finance to the Central Bank to lift three zeros from Iraqi dinar, which has been approved by the Central Bank, where he talked about the recent long-term strategy to improve the situation of the Iraqi currency through the deletion of three zeroes, and the strengthening of systems of payments Consistent with the economic development happening in the country. نتساءل هنا هل إن مثل هذا المشروع لا يزال قائما ومن الممكن أن يدخل حيز التنفيذ في ظل ظروف الأزمة العالمية؟ Ask here is that such a project is still valid, and could enter into force under conditions of global crisis? أن الأرجح أن يكون الجواب سلبيا، فالأوضاع العالمية هي في حالة من عدم الاستقرار، وان الأزمة المالية أحدثت هزة في جملة مفاصل الحياة الاقتصادية العراقية، في حين إن قرار رفع الأصفار لا بد أن يتم في بيئة اقتصادية مستقرة، ومثل هذا القرار لا يأتي أصلا إلا بعد أن تشهد العملة تحسننا واستقرارا في قيمتها، وكلا الأمران غير متاح في ظل استمرار الأزمة وتداعياتها، فالمتغيرات الاقتصادية من المرجح أن تستمر غير مستقرة لفترة ليست بالقصيرة قد تمتد إلى نهاية عام 2010، وما دام رفع الأصفار عن الدينار، كما يزعم مروجو الفكرة أساسا، ليست له علاقة بالتضخم وانه مجرد قضية نفسية فإننا نرى إن أية إجراءات من قبل البنك المركزي في هذا الصدد في ظل الظروف العالمية النفسية المشحونة لن تؤدي حتى إلى تحقيق الهدف المرجو. That the most likely answer is negative, the World The situation is in a state of instability, and that the financial crisis shook inter joints economic life of Iraq, while the decision to raise zeros must be in a stable economic environment, and such a decision does not come originally only After experiencing the currency Thassanna and stable in value, both of the two are not available in the continuing crisis and its implications, economic Valmngirat likely to remain unstable for quite some time which may extend to the end of 2010, as long as raise zeros from the dinar, as argued by promoters idea essentially has nothing to do with inflation and it's just a psychological issue, we believe that any action by the Central Bank in this regard in the current international conditions, mental shipped will not even lead to achieving the desired objective. من هنا يبدو إن المركزي والمالية قد أعادا النظر في الأمر، وقبلا فإننا نتساءل، هل كان الاقتصاد العراقي قد وصل أصلا إلى أزمة تضخم جامح بحيث تستدعي حذف الأصفار؟ So, it seems that the central and has restored the financial consideration of the matter, and accepted, we wonder, was the Iraqi economy has reached a crisis already rampant inflation to warrant the deletion of zeros? نقول إن الجواب عن ذلك من الممكن أن يأتي سلبيا أيضا، و دليلنا على ذلك بسيط ويأتي من طبيعة قرار رفع الثلاثة أصفار ذاته، وأؤكد (الثلاثة) أصفار، معنى هذا إن قيمة الدينار العراقي لم تصل إلى درجة خطيرة من التدهور، ولم يمر الاقتصاد العراقي بدرجات من التضخم المفرط، كما شهدت بعض الدول التي أقدمت على هذه التجربة مثل تركيا التي حذفت (ستة) أصفار من الليرة التركية ليصبح كل مليون ليرة تركية تساوي ليرة واحدة، بل على العكس من ذلك نجد إن التضخم في الاقتصاد العراقي بدأ يأخذ معدلات معتدلة جدا خاصة بعد السنوات 2005 و2006 والتي شهدت اكبر موجات التضخم. Say that the answer to that could come negative as well, and our guide on this is simple and comes from the nature of the decision to lift the three zeroes itself, I confirm (three) zeros, meaning that the value of the Iraqi dinar did not amount to a serious deterioration, did not pass the Iraqi economy degrees of hyper-inflation, has also seen some countries that embarked on this experience, like Turkey, which had been deleted (six) zeros from Turkish Lira to become a one million lira lira equal to one, but on the contrary, we find that inflation in the Iraqi economy has started to take a very moderate rates especially after the years 2005 and 2006, which saw the biggest waves of inflation.

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Iraq, Baghdad airway issues

Tuesday, December 29th 2009 1:00 PM
Baghdad, Dec.29 (AKnews) - An official source at the Iraqi Transport Ministry, said that the ministry invited Tuesday his Kuwait counterpart, Mouhammed Al Basiri, the to visit Iraq in order to discuss the lawsuit files of his government against the Iraqi Airways because of the reparations of the first Gulf War.
"The Iraqi Transport Minister Amir Abdul-Jabbar has invited his Kuwaiti counterpart to visit Baghdad and begin the negotiation about the Kuwaiti block on the Iraqi Airways purchases." Akeel Hafi Kawther ,the media Director at the Transport Ministry told today The Independent National News Agency of Kurdistan
He pointed out that "The ministry is awaiting the response of Kuwaiti Transport Minister of Transport to the Iraqi call," noting that "Kuwait banned Iraqi Airways, from importing 10 aircrafts from Canada, and sued in international courts to prevent Iraq from importing any aircraft without the payment of its debts to Kuwait."
The Kuwaiti Ministry of Communications raised in August 27, 2008 before the Canadian judiciary a lawsuit against Iraq to prevent the Iraqi Airways from buying 10 new aircraft from the Canadian Bombardier company.
For her part ,Tania Talaat, a member of the parliamentary Foreign Relations Committee, told (AKnews) that "the invitation of the Ministry of Transport to start the negotiations is a positive invitation, but it came late, and the indebtedness file of Iraqi Airways, is a thorny file."
Talat indicated that "there is a chance to convert this file to the government and to the next parliament, because the time is not appropriate to open this file because Iraq is on the verge of electoral benefits, and therefore, the file of Kuwaiti reparations require negotiation and in-depth discussions to resolve it."
The Iraqi government has made two offers to Kuwait to end the file of the seizure of the Iraqi planes, The first is that Iraqi Airways pay a cash amount of $ 150 million according to a mechanism agreed upon later, and give Kuwait Airways the right to invest in the fields of aviation, logistics, freight and ground services, which the Iraqi Airways have exclusive rights in it in Baghdad and Basra airports, and the second is that the Iraqi Airways pay the amount of US$500 millions in cash and in one exchange for dropping all claims and judgments of Kuwait Airways, including raising the custody of Canadian aircraft immediately, but the State of Kuwait refused the two offers because of failure to provide her with certain information or documents to help her find out the validity and seriousness of those proposals.

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Higher Denominations, Iraqi Dinar will be Removed in the Near Future

Note ~ The following statement is saying that all Iraqi Dinars with 3 0's will be removed from circulation.
That would mean that the 25,000, 10,000, 5,000 and 1,000 dinar notes will, over time, be taken out of circulation. This is Not a lop. Time will be given to trade in the higher notes for smaller notes and eventually the higher notes will no longer be used.

December 31, 2009
This press release by the Central Bank of Iraq on 30 December, the current dinar higher denominations were removed 3 zeros near future to meet the great expectations of the dinar in 2010. This is one of the most important decisions for the Central Bank
http://www.radiodijla.com/search/index.shtml?sa=Investigación&q=This+press+release+by+the+Central+Bank+of+Iraq+on+30+December%2C+the+current+dinar+higher+denominations+were+removed+3+zeros+near+future+to+meet+the+great+expectations+of+the+dinar+in+2010.+This+is+one+of+the+most+important+decisions+for+the+Central+Bank+&domains=www.radiodijla.com&sitesearch=www.radiodijla.com&client=pub-8540237099081706&forid=1&ie=windows-1256&oe=windows-1256&flav=0000&sig=-FD97zdRgQg8RMIY&cof=GALT%3A%23008000%3BGL%3A1%3BDIV%3A%23336699%3BVLC%3A663399%3BAH%3Acenter%3BBGC%3AFFFFFF%3BLBGC%3A336699%3BALC%3A0000FF%3BLC%3A0000FF%3BT%3A000000%3BGFNT%3A0000FF%3BGIMP%3A0000FF%3BLH%3A29%3BLW%3A48%3BL%3Ahttp%3A%2F%2Fwww.radiodijla.com%2Fnews%2Flogo.gif%3BS%3Ahttp%3A%2F%2F%3BLP%3A1%3BFORID%3A11&hl=ar

http://www.radiodijla.com

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Dec 31 2009
[bigd1619] just got off the phone with a wall street source that says 3.27 by the 4th. i hope he is right.

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by babygirla - Higher Denominations, Iraqi Dinar, will be Removed in the Near Future Note ~ The following statement is saying that all Iraqi Dinars with 3 0's will be removed from circulation. That would mean that the 25,000, 10,000, 5,000 and 1,000 dinar notes will, over time, be taken out of circulation. This is Not a lop. Time will be given to trade in the higher notes for smaller notes and eventually the higher notes will no longer be used. December 31, 2009 This press release by the Central Bank of Iraq on 30 December 2009
http://www.radiodijla.com/en/forums/

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Thursday December 31, 2009

The announcement of an agreement in principle to pass 2010 budget
بغداد - الصباح BAGHDAD - morning
Announced yesterday that an agreement in principle to pass a budget for the year 2010
. The MP said the Accordance Front, Adnan Jibouri: Most of the political blocs reached an agreement on the semi-final approval at the earliest meeting of the House of Representatives.
"Jibouri in a press statement," it was a budget submission to the House of Representatives too late and need extensive discussions before reaching a final decision, noting that with the Parliament was able to reach a partial agreement around despite the very short term.
For his part, MP Rashid al-Azzawi said House Speaker Iyad al-Samarrai called on members of parliament to convene on Sunday to vote on the federal budget for 2010. Azzawi said in a statement quoted by news agency Iba: The Iraqi Accordance Front, called on all members to vote on the budget, noting that the link between ratification of the budget and vote on the electoral code of conduct is based on personal opinion. has been the Ministry has warned of significant negative effects in case of the approval on the livelihood and security, health and implementation of projects.
In turn, said Mohammad Tameem MP National Dialogue Front, "There is no compromise in the House of Representatives on the subject of the general budget of the State. Tamim said in a press statement: that some political forces started from any sensitive asked about the budget in the House of Representatives is the people's money and the right of the Board learn how to be disbursed, "indicating that" the issue discussed issue of the budget is not an attempt to diminish or a blow to the government but also to preserve the money of the country.
Referred to the House of Representatives recently completed, read the draft general budget for the year 2010 amounting to more than 83 trillion dinars, of which 23 trillion dinars allocated for the expenses of the investment projects, and 60 trillion dinars for operating expenses, by a financial deficit of more than 21 trillion dinars, as it is hoped that Voting on the budget next week.
As a member of the Finance Committee in the House of Representatives Sami Atrushi has revealed a concern among some members of the committee to use the money allocated for social benefits in the general budget for 2010 in the election campaign.
Atrushi confirmed that members of the Finance Committee presented a proposed three presidencies not need to spend money allocated for social benefits until after the elections to ensure that the use of electoral advertising, noting in a press statement that it had been submitted the proposal to reduce benefits to 50 percent, to the fact that such benefits only after Atsrv a few months of next year, and therefore must be reduced unless the disposal at the beginning of 2010. For its part, demanded MP Layla al-Khafaji, include the clause that guarantees the overall budget allocation of part of the state's resources to the provinces involved in tourism.
Khafaji said: "It is not reasonable to deduct the Ministry of Foreign Affairs, for example, money visa (visa) and the amount of up to a hundred dollars each newcomer intended to visit the holy sites, and this money is going to the treasury without such a ministry for the provinces concerned by the proportion of them," according to she said.
Khafaji and stressed the "need to be some justice in this matter because these provinces to bear the load and require considerable financial support to provide services and building service facilities that meet the needs of increasing numbers of visitors from Arab and Islamic countries.

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Iraq seeks changes in oil deals

Wednesday, December 30th 2009 9:49 AM
Baghdad, Dec. 30 (AKnews) - Iraq's cabinet has requested certain changes in proposed deals with foreign firms to develop nine oilfields, the government spokesman said.
Ali al-Dabbagh said ministers had decided that proposed long-term service contracts for the oilfields, which were offered in two bidding rounds this year, needed "technical and legal" changes even after initial agreements for most of the fields had been signed.
The initial deals must be approved by the cabinet before they can be finalised with the foreign firms.
"There are no major changes in the contracts, and the contracts will be subjected to certain comments in order to comply with Iraqi prevailing laws," he said.
Iraq has the world's third-largest oil reserves and the deals include some of the country's biggest fields, including the supergiant Majnoon and West Qurna fields, which each have more than 5 billion barrels in reserves.
Oil firms with stakes in the deals include Italy's Eni, Exxon Mobil, Royal Dutch Shell and Lukoil.
In the last two weeks, Iraq has signed initial agreements for many of the nine deals. Only two have been formally submitted for cabinet approval, the Oil Ministry said.
Deputy Oil Minister Abdul-Karim Louaibi said earlier on Tuesday the remaining seven would be sent for cabinet approval on Thursday.
It was unclear why the cabinet was requesting changes to the contracts given that most of them had not yet been formally submitted to the ministers for approval.
Dabbagh was unavailable for further comment.
Only one oilfield deal Iraq awarded in the two auctions has been finalised, a development contract for the Rumaila oilfield won by China's CNPC and BP.
"Iraq will begin talks with oil companies to prepare the final contracts as per the comments of the cabinet ministers ... Iraq is ready to sign these as soon as these comments are approved," Dabbagh said.
He said production targets and fees the Iraqi government will pay to firms for developing the firms would not change

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Iraqi Prime Minister Nuri Al Maliki ordered a payment of 100 million Iraqi dinars as a reward for an Iraqi citizen for disclosing information about an unexploded car bomb in Al Jamia District in Baghdad, Baghdad Operations Command spokesman Brigadier Qassem Ata said
Rewarding Iraqi citizens is a major step to enhance security and intelligence in the country and strengthen security forces and their capacities in Iraq, Defense Ministry spokesman Brigadier General Mohammed Al Askari said.

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Iraq Ministry of Oil called OPEC Organization to reconsider the share of its members according to the reserves of each of the same. Iraq Oil Ministry stressed that Iraq will bid in the upcoming years to export 12 million barrels of oil per day. Oil Ministry Spokesman Assem Jihad said in an interview with Alsumarianews website that trying to hoist Iraq oil output in the upcoming years is a natural right of Iraq as it owns huge oil reserves. Oil Ministry Spokesman called OPEC to grant Iraq its natural right in exporting crude oil so as its share becomes fair with regards to its oil reserves.

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Dear Clients,
Happy Holidays and a very prosperous New Tear to you all.
The elections was pushed back form January 2010 to March 2010. This has meant the push back of news concerning the currency from December until February.
The good news is that the election should have a direct and speedy impact on the dinar becoming a world currency. The news was due out in December but the sanctions from the European Union do not expire until 31 December 2009.
I expect news from the treasury of Iraq in February but do not discount some news slipping out after 31 December as all the particulars are known by most western banks at this time.
We will resume deposits into existing accounts after 1 January and all is well with the Fund Hoping for all the best in the new year.
Sincerely.
Bill Burbank
CEO BB&M International Corp.

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Revival of Baghdad

In Heart of Iraq, a Plan to Revive the Pulse of a Central Artery

BAGHDAD — Some city planners here do not want to leave to chance what Iraq will look like after American forces leave. Working with the Baghdad municipal government and the provincial council, engineers here have drawn up the largest Iraqi reconstruction project since the American-led invasion of 2003, a $5 billion plan to rebuild the city’s economic and cultural main street.
Rasheed Street, designed by the Ottomans and modeled on Paris, has figured in much of Baghdad's history, but has been battered by war and sanctions.
Rasheed Street on Dec. 21. Plans to revitalize the street have set off corruption investigations.
On a recent morning, Ahmed Jabbar, 48, looked at a computer rendering of the future and was not impressed. He runs a men’s clothing store on Rasheed Street, once a thriving Ottoman-era commercial artery but now battered by nearly three decades of war and sanctions. In the drawings, Rasheed Street appears as a glistening pedestrian mall, with palm trees and restored porticoes above the two-story, columned shops.
Mr. Jabbar kicked at the sidewalk in front of his store, product of a smaller recent reconstruction project.
“They spent $7 million on this stupid sidewalk,” he said, “and it’s tilted so that when it rains, the water comes into the stores. With such people in government, we will have the same circumstances forever.”
The revitalization plan, presented to the provincial council this month, is the most ambitious vision put forward of a new Iraq, a testimony to the decline in violence of the last two years. The engineering firm, Al Miemari, modeled its plan on the reconstruction of Beirut after 1990, which created thousands of jobs and drew billions of dollars of foreign and local investment to the Lebanese capital.
It is a sign of optimism here that people are even thinking about such a large-scale project.
“The best reply to terrorism is to insist on the reconstruction of Baghdad’s most important street,” said Kamil al-Zaidi, who leads the Baghdad provincial council. “It is a message for everyone. We will go on.”
But first the project faces more prosaic nemeses. Before it has even been made public, it has set off three ongoing investigations into charges of corruption, a widespread problem that has severely hindered improvement in Iraq after the war.
“Everything in the project is suspicious,” said Abbas al-Dihlegi, who runs the provincial council’s integrity committee. With billions of dollars expected from private investors, both foreign and Iraqi, officials and shopkeepers on Rasheed Street suspect that much of the money will end up in the pockets of politicians or connected contractors.
The watchdog group Transparency International recently named Iraq the fifth most corrupt country in the world, out of 180 nations studied.
Mr. Dihlegi said the initial $7 million contract to draw up the plan and provide a short list of contractors was awarded to Al Miemari without competitive bidding from other firms. “That is against the rules,” he said.
He noted that one of the firm’s partners, Thaeir al-Faili, is a former deputy minister of reconstruction and a current member of the board of Baghdad’s investment commission, which will grant all contracts for work on the project.
“This is a conflict of interest,” Mr. Dihlegi said.
Mr. Faili said no other engineering firms chose to bid on the contract, now being investigated by the Commission of Public Integrity.
Mohammed al-Rubaiei, chairman of the provincial council’s strategic planning commission, said that because the project would be financed by private investors, through a company of shareholders that would include the street’s property owners, it would deflect the corruption and cronyism that pervade government projects here.
Taghlub al-Waeili, who owns the engineering firm, said the corruption charges were brought by his competitors to slow progress.
“The real corruption is when you stop the reconstruction of the country under false accusations,” he said. And besides, he added, a little bit of grease may a worthwhile price to pay. “If you knew that the World Trade Center’s towers were built with $100,000 of corruption,” he said, referring to the buildings and not their history, “what would you choose? Build them or leave them unbuilt?”
Mr. Rubaiei conceded that the project faced a number of obstacles, including the continued possibility of violence. “We agree that Iraq is not totally ready as an investment environment,” he said. “But we can’t just wait forever.”
Work will not begin for another year, he said.
The street, designed by the Ottomans in 1916 and modeled on Paris, has figured in much of Baghdad’s history: Sunnis and Shiites planned the overthrow of British rule in 1920 at Hayder Khana Mosque. A Communist uprising filled the street in 1948. Saddam Hussein began his political career there in 1959, in an assassination attempt on Abdul Kareem Qassim, the country’s first prime minister.
“Nothing happened in Iraq that Rasheed Street didn’t have a major role in it,” said Yaseen al-Nussayir, who wrote a book about the street.
On a recent afternoon, the crumbling facades of Rasheed Street bore only muted testimony to their past, when Iraq — flush with new money from oil in the 1950s — celebrated its wealth in the shops and theaters of its oldest street, where Western and Arabic architectural styles bumped shoulders in an optimistic glow of midcentury modernism. Windows are now broken or covered with dust; shutters hang limp from their hinges. At the city’s oldest cafe, men smoked hookahs on the sidewalk because there was no electricity inside.

An architect envisions the street as a glistening pedestrian mall, with palm trees and restored porticoes.
The new plans show nine wide plazas and a streetcar passing through a low-slung strip of shops with ironwork balconies that would not be out of place in a small city in Florida. The engineers identified 254 buildings as historical or heritage sites to be preserved where possible; in 1984, there were 526.
For Muwafaq al-Taei, visiting the street on a recent afternoon, the decaying buildings evoked a secular, liberal past far different from the Baghdad that is materializing today. Like many middle-class Iraqis his age, Mr. Taei, 68, embraced communism and the artistic and social movements of Europe in the 1950s and 1960s, living them out on Rasheed Street.
“We had the most advanced cinemas, even 3-D cinemas,” he said. “I saw ‘Helen of Troy’ here the same time it was in England.”
Mr. Taei, an architectural planning engineer, said the reconstruction plans were shortsighted, in part because the car-free zone was unworkable, and in part because Baghdad today lacked the infrastructure — municipal or cultural — to regenerate the life that made Rasheed Street. “You don’t jump to the end product,” he said. “Rasheed is an end product.”
For Mr. Jabbar, who runs the men’s-wear shop, it is premature to start making plans for the future.
“These seven years have made us go back a century because of corruption,” he said. “We are not the first country invaded in a war, but we have a government that has accomplished nothing but corruption.”

He pointed to the weathered balcony across the street, which until recently had been maintained, but was now being dismantled. “Rasheed Street was the center for Baghdad economic life, but now it’s destroyed,” he said. “Government corruption destroyed it.”

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Independence of the Central Bank of Iraq

Iraq Central Bank Governor

Economic Indicators: Measuring the independence of the Central Bank of Iraq

د. D. فلاح حسن ثويني Falah Hassan Thuwaini

أولا : مفهوم الاستقلالية First: the concept of independence (Independence)هو نقيض
(dependence) May be more controversial things and then the conflict in economic policies in various countries of the world, including in Iraq is the question of autonomy enjoyed by the monetary authorities represented by the Central Bank of the Government, that is, excluding the effects of government intervention or monetary policy decisions, and considering that the concept of independence ( Independence) is the antithesis of the concept of dependence (dependence)

It has raised questions about the independence of central banks from?

And accepted their subordination to it?

What is the degree or level of such independence or dependence?

And certainly Alijabpaly such questions lies in the nature of the prevailing economic systems and existing legislative rules that define the relationship between monetary policy and the government, despite the (extreme) some supporters of the independence of the Central Bank as described Monetary Institute President in any country, which include its control of other institutions, as well as creating coordination should be the subject of central bank complete independence, as well as opponents of the independence of those who assert that because the government represents the people who chose them, they sometimes set targets general priority of its economic policy may not comply with the policy of the central bank to achieve price stability, and supports This view of what happened in Germany during the period of German unification in the early nineties when he succeeded the political decision of the Government's proposal to achieve unity between the two halves of the immediate cash to Germany, despite fierce opposition to the President of the German Central Bank for that matter, where he was concerned that this process will lead to negative economic consequences .

However, more moderate economic views see that the central bank to act as a government exercise its functions within the overall framework of the State, but the specificity of this institution to make independent decisions with regard to monetary policy, which must be consistent with the general economic policy of the State.

Second: the independence of the Central Bank of Iraq

In Iraq, the Iraqi Constitution (Article 100) is the Iraqi Central Bank, which manages monetary policy, an independent body financially and administratively, the Bank is accountable to the House of Representatives, meaning that the central bank would be accountable to the House of Representatives and not the government.

In addition, the Central Bank Law No. (56) for the year 2004 (Article II, paragraph 2) confirms this ((In order to achieve the objectives of the Iraqi Central Bank and carried out his duties Iraqi central bank is independent and responsible as provided for in this Law, except that determines contrary to the Act, will not receive the CBI instructions from any entity or person or institution, including government institutions. and will respect the independence of the Central Bank of Iraq and anyone can influence and improper for any member in the decision-making body of the Central Bank of Iraq during the performance of his duties at the bank or interference in the activities of the Central Bank of Iraq)).

In the light of the foregoing, the CBI seeks to achieve its objectives set by (Article III) of the Act, which is: to seek to achieve and maintain domestic price stability.

Promote and maintain a stable financial system is competitive and based on the market.

Accordingly, the Central Bank also promote sustainable growth, employment and prosperity in Iraq.

In the light of the foregoing it is inferred that the goal of addressing inflation is a priority at the expense of the rest of the other goals, and the market mechanism that will govern the economic philosophy of the state.
III: mechanisms of government borrowing

What are the constraints and conditions by which government funding, and this represents the more elements that arise around the controversy and debate between the financial and critical and which are identified on the extent of acquiescence or subordination of monetary policy to fiscal policy, but that many of the stakeholders assert that the degree of independence Central Bank can be measured as soon recognize the limits of central bank lending to the government.

According to the legislation of monetary policy in Iraq (article 26), the nature of this relationship is determined by:

* Is not permissible for the Iraqi Central Bank credits, directly or indirectly to the Government or any public institution or a governmental entity, except as may be done by the Iraqi Central Bank to provide liquidity support in accordance with Article (31) to commercial banks belonging to the government-controlled Central Bank of Iraq, a condition that is the granting of such assistance in the same materials and conditions in effect upon the granting of commercial banks belonging to the private sector.

* The Central Bank may buy the Iraqi government securities, provided that such purchases are in the secondary market and only in conjunction with the market operations

* Does not interpret Article (26) prevent the use of government securities in relation to any aspect of open-market operations or as security for facilities.

*The central bank support and facilities as lender of last resort lending to the bank metaphor or have a license issued by the Central Bank of Iraq in accordance with the Banking Act by granting financial assistance, provided that such assistance is necessary to maintain the stability of the financial system and the issuance of the Minister of Finance a written assurance to the Iraqi Central Bank on behalf of the government believes the repayment of the loan (Article 30).

IV: Measuring the degree of independence of Central Bank of Iraq

There are many variables that are adopted in most countries of the world, and through which to identify the degree of independence of central banks, are the four key variables relating to the Governor and the formulation of monetary policy and define its objectives and limits of government funding of the important indicators to be measured by which the independence of the central bank, as certain weights are determined for each variable, as well as determine the degree of ordinal indicators for these secondary variables.

In the application of these variables and indicators on the Central Bank of Iraq (according to the attached annex), based on existing legislation (Act No. 56 of 2004), it became clear that the degree of independence of the Central Bank of Iraq's actual (achieved) in the light of variables and indicators mentioned amounted to 78%, which is a clear indication the extent and degree of independence.

independence and economic policy of the State

Some may wonder: Is that high indicator of the independence of Central Bank of Iraq is in the interest of the Iraqi economy and economic policy in general?

The answer therefore holds the points of view, I: represent the view of monetary authorities (central bank) and its supporters, namely, that this high level (relatively) independent sets out clear tasks and responsibilities undertaken by the monetary authorities in achieving its fundamental objectives, and then the possibility of accountability for the failures or failures that occur within the scope of its responsibilities, in the sense that monetary policy is not ready to bear the costs of others, or not responsible.

The second view: that often the financial parties and their supporters, they consider to not be such a high degree of autonomy at the expense of the general economic policy of the State and Government, in particular that the Iraqi economy is facing the problem of inflation lowers (Stagflation) means that the monetary policy to work within the framework of economic policy as a part of it.

But the big problem facing the Iraqi economy in general, not monetary or fiscal policy alone, is not to shape the features of economic policy in general and clear in the sense of procedures, institutions and legislation are clear and implementation, most Iraqi ministries, blames others and attributed the imbalance to some of them, which confirms that there coordination required between the various different economic policies.

policy aims to address the recession and unemployment, which requires an expansion in expenditure that leads to the creation of inflationary trends in the absence of the flexibility of the production base, which is inconsistent with monetary policy, which aims to counter inflation increase unemployment ...

And continue a debate and conflict, and consequently does not achieve the objectives of monetary policy and fiscal policy objectives.

But there remains the question of independence of any policy, whether the cash or other indicators are good and important for each policy that gives opportunity to assume their responsibilities to achieve their goals, but more importantly is that this independence and interest in the service of general economic policy, and supportive.

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Iraq would emerge from UN Chapter 7 with six months, MP says

Thursday, December 24th 2009 5:13 PM

Baghdad, Dec. 24 (AKnews) - A deputy from the Kurdish Alliance in the Iraqi Parliament said on Thursday that Iraq would emerge from the responsibilities of Chapter seven of the United Nations, which was imposed on Iraq since the time of the former regime, within the next six months.
"Foreign Minister Hoshyar Zebari said during the Parliament’s host session about the emerging of Iraq' from Chapter seven of the United Nations, that Iraq is just around to get out of it," pointing out that "Iraq will be out soon; about the middle of next year," Mahmoud Othman told the Independent National News Agency of Kurdistan
He pointed out that "Iraq needs a diplomatic mission with the efforts of some Gulf states, especially Kuwait to get out of this item".
The Iraqi Parliament hosted yesterday Iraqi Foreign Minister Hoshyar Zebari on the issue of Fakka oil field, that was occupied by Iran recently, and the efforts of the Iraqi government to force the Iranian forces out of the oilfield, and the formation of a specialized committee from both sides to discuss the issue of demarcation of the borders.

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Good evening KTFM Family,

When I was in high school there was this pretty girl that most of the young men wanted to date. You know the old saying ……..it’s as plain as the nose on your face? Well……….this girl had a unique freckle……….right at the tip of her nose. She couldn’t see it ………but boy oh boy we sure could! It was extremely difficult to have a normal conversation with her because your eyes kept drifting to the spot at the tip of her nose. She knew it the moment she saw our eyes………cross. I never asked her out on a date……….because I was too afraid to talk to her. Psychologically………..I was already psyched. I guess I just didn’t want to embarrass myself nor her by constantly looking at…………the obvious………the freckle that all the world could see at the tip of her nose……..except for herself. IMO………what I presented to you when we broke down the 33 page document last week covering CH7 and other UN resolutions along with yesterday’s front page post………creates the obvious.

At the end of this paragraph you will once again see the link I introduced yesterday from the Minister of Planning. We have been studying the 2006 to 2010 MOP report to no avail. This MOP is the one that we have been waiting for from 2010 to 2014. I want you to pay particular attention to page 14 paragraph B. Then read all of the report and once again focus your attention on page 21. Between yesterday and today a handful of you took on my challenge to do some homework. I have selected NURSEWRITER’s post to aid in my explanation of the importance within this document. Before I share it with you I need to make one point perfectly clear Family concerning this MOP. When you are done studying it as I did…………I hope your conclusion jives with mine:

Family………80% of this document has already been completed. The remaining 20% can only be completed if they have an RI. Hmmm………..fascinating catch 22. Bad for them if they don’t ……….great for the world if they do………that’s my kind of catch 22. As I said ……….if you read page 14 it lays out what needs to be done , all of page 14 has been done and most of 15……..
they are laying out all the ground workfinancial, banking and cash services……… opening the local market to the neighboring regional markets. Developing and activating the bilateral and international investment agreements and granting the investors co-benefits. Granting it agricultural land at affordable prices. Granting it soft loans. Reduction of customs exemptions. Preparing industrial sites. Providing an attractive economic and investment climate through the provisionof the regulations and the adoption of policies that are flexible and responding to local and international economic changes. Developing appropriate regulations that ensure finding fair competition. Expansion in the establishment of joint stockcompanies with economic feasibility. The need for transparency in investment policies between state institutions and the private sector, with the importance of having information linkage required to establish projects. Modernization of economic legislation supporting the approach of market economy…….. aiming at the same time to achieve the social goals set within this strategy. Developing the capacity of government institutions to contribute to the development of the private sector. Whewwwww………..I think I made my point. Actually I was trying to dissect the document and bring out a handful of the items that have already been dealt with. All the kings men………..in their positions………..looking through their crosshairs. Below is NURSEWRITER’s post.

OK, I missed out on the neno stuff but not worried. I have done homework today. First, I read BamaBreeze's breakdown of res.1905, noting that she noted there was no reference to 661 in their "Action" statements -- which follow the Recognizes etc statements. SO....I went back to 661 in 1990 and this is my theory.:
First, as to chapter 7, we WANT them under chapter 7 -- for protection not just from without BUT FROM WITHIN. Chapter 7 (as i read today) is the measure the UN takes when peace of a countryis threatened. It is not the freezing money resolution. 661 banned Iraq from trading with the world. Those sanctions were lifted and became the food for fuel program. Then in 2003, the DFI was formed and replaced food for fuel. As BB noted however, 8 billion bucks has gone missing.....but it still has enough money RIGHT NOW to pay off Kuwait. As BB pointed out in 2008, res 1895 specifically said the council would address issues related to 661. That was last September, 2008. Well obviously they have been discussing it all year. We just don't know about it. EXCEPT as BB pointed out, 661 is NOT MENTIONED in the Action statements with res 1905. My theory: Why not? Because 661 is over. This is further backed up with Frank's MOP pdf stating all their plans to trade locally and regionally on a fair market level. This further validates 661 is no longer an issue. If it was an issue, they WOULD NOT BE EXPLAINING ALL THEIR TRADING GOALS etc. As Frank said, the only issue remaining is THEIR CURRENCY. How can they trade among themselves with cow chips for currency? (Sorry, i did read neno's comments about cow manure and i live in Oklahoma.....) THEY CAN'T. That PDF was dated September 2009. So they went into the big UN meeting KNOWING 661 was a moot point. They asked for protection for one more year -- again -- it's in res 1483 (i think, i read lots of resolutions and numbers etc) in 2003. You can go to the UN page and get a year by year summary. Everything re: the protection status occurred in 2003 and has continued year to year. Iraq asked the UN to extend it knowing that if the wrong person ends up in Maliki's shoes, all the progress made up till this point in iraq can go down the rabbit hole. If you read about maliki's contenders (LLH published them last week and i researched them), it can get spooky. One guy was a former member of the Iraqi communist party....SO.....based on all this, Iraq WILL RI/RV SOOM based on all this stuff we've been reading about and trying to understand. The UN ALREADY SAID IRAQs currency is undervalued and will be changed. We all read that. Don't forget the UN Operational Rates of Exchange posts changes primarily at the first of the month, although it can post mid month. Will we have to wait until the elections? ? Only if maliki holds his cards too long. So hey Frank, what grade do I get on this? I just made 2 A's in my first six hours of graduate school and hope this is my third......................and final.

Article 140 Committee underway to disbursement of compensation
http://pukmedia.com/english/index.ph...5331&Itemid=52

U.S. supports implementation of Article 140 of Constitution
http://pukmedia.com/english/index.ph...5328&Itemid=52

On Christmas morning top-level management was called in to work for a full day of learning about De La Rue machines and a pretty currency …………called IQD’s. On the following day they were ordered to come in to work this morning at 6am to complete their work. Below is an email describing what happened. I am leaving out the state but will share with you that it is Wells Fargo.

Pretty Money
Frank,

A lady in our church called my son today and put him on a conference call with a close friend of her family who told him that yesterday he received a message from his cousin who works for Wachovia bank in the xxx area.

She was instructed to come into work on Christmas day along with her boyfriend who is the bank manager, and a handful of others. No tellers, just management.

She said they were called in to wait for an email, once they got the email they could go home.
But then the email came and it had more "bad news", she now had to come into work on Sunday, because they needed to do some training on some kinda machine that sounded like the movie Mulan Rouge, because there was some sort of big announcement taking place either Sunday or Monday.

Her cousin, who along with the lady in our church, is a holder of Dinar. However, he hadn't discussed his investment with his cousin. He then asked if the machine was a De La Rue machine, she said that that was the name she could not remember. He then tells her about the dinar and she tells him that this past week some lady brought in a box of "pretty money" this week to put into a safety deposit box. She told him she would keep him informed.

Our friend in our church is staying on top of this to see what transpires.

Just got an update,

I have just found out the machine has already been delivered and they have been told to be at work in the morning at 6 AM.

I just got off the phone with this connection for a follow up and this is what I was told. Numerous attempts were made to communicate with the lady from the bank ……….with no success until just about an hour ago. As close as this family and friendship is ……….for the first time the caller tells me that there is a reluctancy to talk. That in itself is enough to end this intel.

Yesterday ………Family members brought in two powerful bank stories. I believe they came in around 10pm. If you did not get to read them please make time to find them…….they were very good.

No auction today. But it’s the first day of the week when everything opens………..including the CBI. We understand no need for PIP’s……….but I sure would like for them to explain to me why no auction today when there isn’t a holiday on the calendar. As plain as the freckle on the tip of your nose………so could this be…………if tomorrow is the day for the RI.

50 miles north of me a terrorist tried to blow up an airplane by setting himself on fire. When the passengers smelled the smoke and saw that his legs were ablaze they quickly put the fire out and then ………..beat the living daylights out of him………..by accident of course. How dare you try that again in our country!!! Let us pray that there are no more bombs from these evil people on both sides of the pond.

Wouldn’t it be helpful if the GOI was to pick up the phone and call their big brother the coalition force and ask for some help………..if the RI is coming tomorrow or before the end of the year? I know they have a prideful army and a brave police force. The problem is………..they are neophytes. As plain as the freckle on your nose it would be a good idea to ask for help. Did anybody see an article where Iraq is calling for US troops to come back ? If you have ………..good. If you haven’t…….you will.

Our contacts in Iraq are telling us the ATM machines have been set up for over two months now. They saw them loading them up and as of today they are on………..BUT not in service. I would give a lower denom to know all about the lower denoms inside of the ATM machines. It was also reported to us that there is a heavy push for bank customers from Warka to apply for master charge credit cards and the bank’s debit cards.

I leave you now and wish you all happy holidays along with a powerful and prosperous new year. I will answer as many questions as I can tonight but I will be busy setting things up with our team. I have interest to see what will happen between 2 and 4am EST. I encourage all of you to stay with the counters and help us out if you see any change at all. God only knows when the announcement is going to come. Logic says based on our intel…………to look in the still of the night. Let us continue to support the newbies that find themselves confused at times. We have a way about us here at KTFM and it’s called………Family. God bless you all ……I offer you my Christian love and warm Alohas.

KTF,

Frank

Yamashita Treasure Site

Sa mga taga rito wag nyo hayaan na makuha o maging land fill ng mga hapon at kano itong area na ito...Dito matatagpuan ang Tunnel 9, Camp 24 ng Golden Lily...

57th Infantry Philippine Scout Fort mckinley aka Fort Bonifacio Taguig City circa 1930's

Maragondon, Cavite

US Orders Blackout Over North Korean Torpedoing Of Gulf Of Mexico Oil Rig

Iraq to boost oil output 'above 3 mln bpd in 2011

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Blackwater Settles Massacre Lawsuit by Paying Families of Dead Iraqis US$100,000 Each

Blackwater says it is “pleased” with the outcome.