Stryker Blog 09.11.2013

  

The Iraq Dinar News


 





There are people out there that do not think that we who follow the news, will ever get anything real out of it, much less tell us when we could expect to see currency reform, but they are completely wrong. The news itself continues to unveil the truth, but you
just need to know what you are looking for.
Monday alone, the news told us about one of the most important draft laws that also is one of the last steps of Iraq’s final accession into the WTO.  
The law is called- The First Amendment to the Law on the Protection of Iraqi products No. 11 for the year 2010 submitted by the committees of economy, investment and legal.
Quote: one of the important laws to reform the economic reality of Iraq
Quote: that the law of the requirements of Iraq's accession to the WTO
Quote: and its entry in the global market
Quote: demanding the distribution of powers within the terms of reference of law.
And this one I will leave all together and it will lead me into my next point:
Quote:  In turn, pointed purity of net debt and the Minister of State for Parliamentary Affairs: that the law will contribute to Iraq's accession to the World Trade Organization (WTO) and its involvement in the free market, stressing: importance of not hinder the development of economic reality and the need to protect the local product to be able to compete in the global market. 
BTW, they - Parliament has read it twice now, one more read then a vote and passage. Between this most important Amended Law and what I pointed out to everyone last week concerning Iraq’s obligations made to the WTO, guaranteeing complete fulfillment to the International Covenants, I believe Iraq will have their Full Accession into the WTO very soon.
What does that mean? It means a fully convertible currency enabling Iraq to re-enter the International Market Place.
Supporting Links:
Personal Note: Thank you Newshound Gamaray for holding these articles and pointing out your highlights until I felt well enough to get back to work full time.
OK, debt consolidation and something I have been Blogging about for over a year now.
Iraq must have all their debt arranged one way or another (paid off or payment arrangements) before they can make a significant change in their monetary framework. It all goes back to Dr. Shabibi working with the Paris Club in reducing or countries forgiving billions of dollars’ worth of Iraq’s debt. Russia alone forgave $4 billion out of their $8 billion just to get their Oil drilling rights in Iraq back which Saddam took away from them when he stop paying Iraq’s debts to Russia in the late 90’s.
And we saw this again in June when Iraq was released out of Chapter VII just to find out that they will not be completely out of VII until Iraq pays all the compensation owed to Kuwait. Which at that time was $11 billion but soon after the partial release, the UN forwarded another $1 billion dollar payment in behalf of Iraq to reduce it to $10 billion.
Well this part of the above quote ties that article with other ones today: purity of net debt and the Minister of State for Parliamentary Affairs: that the law will contribute to Iraq's accession to the World Trade Organization (WTO).
Purity of net debt and this law will contribute to Iraq's accession to the World Trade Organization (WTO) is the way I read it. The other issue being fulfillment of all the Covenants. What I find very interesting is that today Gamaray posted articles confirming that Zabari along with the Executive Director of the Compensation Commission at the United Nations Tibor Raja wants to make the Kuwaiti debt a net zero by paying it in full.
Quote: "During the meeting, Iraq's efforts in fulfillment of its obligations to pay the remaining compensation to Kuwait."
Quote: Raja praised the "efforts aimed at ending this file", calling for "importance of benefiting from the environmental reform program undertaken by the United Nations in the region."
Quote: For his part, Zebari said Iraq's desire to "the completion of all belongings and close the file of compensation." 
Here is three other quotes from another article that helps bring all this facts even closer together for use:
Quote: solve issues of debt and frozen funds before approving the project
The project that is being referred to here is the project of deleting the zeros project from the currency.
Quote: the project to delete the zeros
Quote: delete the three zeroes from the currency so as to its importance in banking transactions
Note: they are saying that they are deleting the zeros from the currency and not deleting zeros from the value of the currency.
Folks, with these three major issues, The First Amendment to the Law on the Protection of Iraqi products No. 11, Purity of Net Debt and the International Covenants, we could see Iraq become a full seated member of the World Trade Organization real soon. 
This will enable Iraq to have a full convertibility of their currency that gets them into the Global Currency Organization known as the Forex market and the International Organization of Securities Commission, which lets the ISX play with the big boy investors
of the world. All of these things are needed for Iraq’s debut into the Global Economy and what we all have been waiting for years now.
Supporting Link:
I will end with another interesting and telling article posted by timesup late yesterday which I also named Article of the Day for Tuesday and a few quotes from it:
Quote: banking and financial tight monetary policy adopted by the Central Bank of Iraq contribute to reducing the phenomenon of dollarization is peppered the real value of the Iraqi dinar 
Quote: achieve monetary stability and price and then achieve the economic growth
target
The news is bringing us home without all the same old creative stories put out by others.
Hang in there and we will be bringing you clues in the news every day until we see this through together.
Have a great day,

Stryker

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