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  1. #11
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    Quote Originally Posted by copper13 View Post
    check the links....translated from the original arab news reports my friend. Its about the best source we can get at this point.


    more waiting.i would not rule out a quick rate rise,even a spike in the short term,but overall, looks like a slow ride .the view is improving though.

  2. #12
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  3. #13
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    rozwell:

    Thank you for sharing this article.

    Samia Nakhoul did one heck of a job with researching, interviewing, and writing. I believe it is the single best writeup of modern Iraq that I have read. I especially appreciate the absence of western-style spin, spin, spin.

    Nakhoul's writing style reminds me that whatever the truth is, as bad as it may be, or whatever it may reveal, is at least the truth and therefore defines good journalism. In the U.S we still hold some regard for the separation of church and state. If I were "King," so to speak, we would also regard separation between journalism and state in a similar way.

    My best to everyone.

  4. #14
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    Governor of the CBI: Gold reserves outweigh $76 billion in foreign currency reserves

    Posted: July 3, 2013 in Iraqi Dinar/Politics

    Tags: Bank for International Settlements, Central bank, Central Bank of Iraq, Chapter VII, Chapter VII of the United Nations Charter, Iraq, Iraqi dinar, United States
    2 translations

    Detect Iraqi Central Bank Governor / Agency Abdul Basit Turki, Wednesday, that the stock of Iraq’s largest gold from the tally of foreign currency, confirming the assignment set of files of corruption at the central bank to the judiciary, adding that the exit from Chapter VII will allow us greater flexibility discretion, noting that the project raise zeros from the currency has been postponed for the time being.

    Said Turki in an exclusive interview with “Obelisk” of Karbala that “Iraq has stocks of gold is greater than the tally of foreign currency and gold reserves of Iraq is managed by the central bank and deposited at the Bank for International Settlements as an agent of the Central Bank,” noting that “Iraq is the owner of the treasury now, even before getting out of Chapter VII and the gold before a proportion of 10% of stockpiling reserves of the components of the Central Bank and Reserve President consists of foreign currency and is used to determine the exchange rate of foreign currency احتياطنا until last May $ 76 billion of hard currency. “

    “Referred to a set of files of corruption at the central bank to eliminate was indicted for some officials for corruption some verdicts have been issued in the first case, as has been bringing in some of the issues managers of private banks to investigate.”

    Turki denied “the existence of frozen funds outside the control of the Iraqi administration,” stressing that “the frozen funds being diverted down according to the UN resolution both before and out of Chapter VII or beyond to the fund managed by the Central Bank of Iraq.”

    The Turkish that “out of Chapter VII will allow us the freedom to act greater flexibility in addition to creating a general atmosphere to attract foreign investment,” adding that “the great importance is the completion of Iraq’s sovereignty because Quana under the provisions of Chapter VII offered for the intervention of international forces in some of the decisions on Iraq , “and that” the withdrawal of Iraq from Chapter VII-VI means the problems could be solved bilaterally with countries without international intervention and this is an important step on the level of Iraq. “

    He revealed that “the financial statements did not send to the Central Bank in spite of our demand so we asked for statements until 30/6 did we receive until now.”

    He said that “the relationship between the value of the currency and issued on the basis of the existence of the gold content disappeared since 1971 and thus value of the currency depends on two foundations of the strength of the economy and the ability to maneuver through the presence of foreign currencies can be pumped in the market.

    And that “Iraq’s budget going to rise,” expressing his confidence in “through my follow up of the accounts of the Ministry of Finance stocks, roundish and unexpected revenue sufficient for the implementation of the budget, even if 100% exhausted.”

    And money laundering, said Turki that “been sentenced two of the defendants laundered the money and there are still four people accused of directly we have begun to audit the transactions since we receive the task of the central bank and returned to the transactions ancient that we believe the existence of problematic where we have discovered the existence of Notes basic Fastqdinma managers commissioners and officials banks and Naakecnahm in these observations and احلنا to eliminate from not convinced Bhjajhm “.

    Turkish revealed “to postpone the project raise zeros from the currency and the value of the Iraqi dinar toward climb to more power because we passed the bottleneck.”



    Alternate translation:

    The Central Governor “Obelisk”: we have the largest gold stocks foreign currency

    Uncover the Iraqi Central Bank Governor/AFP Abdel Basset Turki, Wednesday, the Iraq stock of gold is greater than the balance of foreign currency, transfer a group of corrupt files in the Central Bank, adding that the exit from Chapter VII will allow us the freedom to act more flexibly, stating that the project raise zeros from the currency has been postponed for the time being.

    Turkish said in an interview with “the Obelisk” of Karbala that “Iraq has stocks of gold is greater than the balance of foreign exchange and gold reserve is managed by the Iraqi Central Bank and deposited in the Bank for international settlements as an agent of the Central Bank”, stating that “Iraq is now safe owner even before out of Chapter VII and the gold in question constitutes 10% of the Treasury reserve components of the Central Bank and President reserve consists of foreign currency is used to determine the foreign exchange rate and ours until May last 76 billion dollars in hard currency.

    “It was a group of corrupt files in the Central Bank and have been accused of some officials about this corruption has issued some provisions in the first case, some managers have been bringing issues of private banks.”

    Turkish “denied the existence of frozen funds outside the control of the Iraqi administration,” frozen funds being diverted to tout UN resolution either before or after the chapter VII to a fund managed by the Central Bank of Iraq “.

    Turki said that “out of Chapter VII will allow us the freedom to act more flexibly as well as creating an atmosphere to attract foreign investment,” he said, adding that “the great importance is the complete sovereignty of Iraq because being situated under the provisions of Chapter VII offered strong international intervention in some decisions on Iraq,” and that “Iraq out of Chapter VII-VI means the possibility to solve the problems bilaterally with States without international intervention, an important step in Iraq.”

    He revealed that “the financial statements did not send to the Central Bank, despite our call out where our bills up to 30/6 and we didn’t until now.”

    He said that “the relationship between currency and issued on the basis of the content of gold disappeared since 1971 and is the value of a currency depends on foundations are the strength of the economy and the ability to maneuver through the presence of foreign currencies can pumped into the market.”

    The “budget” is heading to Iraq expressing confidence through watching the accounts to the Treasury coffers and expected earnings rounded enough to implement the budget even if 100% exhausted. “

    And for laundering Turkish said it sentenced two accused of money laundering and there are still four people accused of directly and have begun checking transactions since we receive important Central Bank promised to old transaction that we believe a problem where we have discovered a key observations, send for us directors Commissioners and officials of banks and we debated them in these observations, we forwarded to the judiciary did not believe their arguments “.

    Turkish revealed on “the postponement of the project raise zeros from the currency and the value of the Iraqi dinar Maint for more force because we passed the bottleneck.”

    http://bit.ly/10nIKCP

    http://thecurrencynewshound.com/2013...ency-reserves/

  5. #15
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    BOOOO.....and we wait again.....

  6. #16
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    Quote Originally Posted by seadesk View Post
    rozwell:

    Thank you for sharing this article.

    Samia Nakhoul did one heck of a job with researching, interviewing, and writing. I believe it is the single best writeup of modern Iraq that I have read. I especially appreciate the absence of western-style spin, spin, spin.

    Nakhoul's writing style reminds me that whatever the truth is, as bad as it may be, or whatever it may reveal, is at least the truth and therefore defines good journalism. In the U.S we still hold some regard for the separation of church and state. If I were "King," so to speak, we would also regard separation between journalism and state in a similar way.

    My best to everyone.
    Yes,and events are moving fast.the Egypt re-revolution is a good thing.democracy and more liberal freedoms are really catching on in the Arab world.Iraq is on the cutting edge amoung the wave of middle east and north african nations that want nomaralized relations with the rest of the world(well maybe not China)Iraq is resiliant and will be strengthened by the rise in democracy all around it(Syria notwithstanding)even Iran is softening after it's recent new leader was elected.So it's all good,time for iraq to boom,hire lots of young Arabs from all over the region and prosper.They will be the new economic engine and will build a new Dubai in 10 years or less, if they get going.... now their out of sanctions.The weekly bombings are still a distraction but those too will become a dim memory soon.Egypt will teach the region that an all inclusive society is the only kind that can work in their diverse region, this example of compromise will be echoed even in harsh places like iraq and pakistan eventually.Egypt must craft a constitution that modernizes and respects islam and works in the modern world.

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