Iraqi funds withheld by the U.S. central bank .. The Iraqi government is unable to act reservoir cas

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Iraqi funds withheld by the U.S. central bank .. The Iraqi government is unable to act reservoir cash abroad Iraqi



BAGHDAD / future Iraqi
Said Source Early in the Central Bank of Iraq that the Iraqi government is unable to act reservoir cash abroad, because it is lodged with the U.S. central bank.


He stressed that the latter had already agreed with the United Nations and the Department of the Central Bank of Iraq to reject the transfer any amount outside the framework of the budget.

The experts predicted the end of the crisis CBI fear exposing big names in the political center and financial, which was confirmed by sources familiar with the investigation, pointing to a judicial decision to release the deputy governor of the Bank appearance in favor and 30 employees were arrested earlier, according to the newspaper «life» London .

The Supreme Judicial Council issued on 19 October last arrest warrant against the central bank governor and a number of officials in corruption cases, and arrested 32 staff with the governor's refusal to Shabibi decision.

The leaked from sources within the central bank details of the implementation of the arrest of the deputy governor and showed that the warrant included three officials are Governor Sinan al-Shabibi and his deputy, the appearance of Saleh and General Manager of the banking sector Ali Abu Nayla.

The sources added that Shabibi and Abu Nayla not surrender themselves to the concerned authorities, but Saleh turned himself in after the security authorities arrested some members of his family.

She noted that the investigators concluded achieved with the deputy governor and is satisfied that there is no evidence incriminating, and decided to end his detention on bail pending completion of the investigation, but the security authorities represented by the Ministry of Interior refused to release him or allow the media confronted inside prison «upper» in Baghdad.

A source close to the investigation committee that «the number of staff of the Central Bank beyond 1235, distributors headquarters and four branches in Nineveh and Basra, Dohuk and Sulaymaniyah. He explained that the number of detainees less than 30, including 22 female and four officials, explaining that the reason for their arrest was that they were members of the board committee, where four staff members are elected to serve under the authority of the Board of Directors.

He confirmed that investigators had evacuated the last for the members of the Committee and some employees because they are not really concerned. And the latest developments in the investigation pointed out that «the art is that the central bank adopted five banks eligibility to sell the dollar, and these banks offer to auction the bank to list in exchange for any amount of purchase, then implement the conversion and here are the responsibility of the Central implied not directly».

The «has not issued any arrest warrant against officials of private banks involved while making sure of its involvement money laundering operations or smuggled out of Iraq. He was a member of the Finance Committee parliamentary Hassan Ozmn announced told media three weeks ago, that Iraqi funds abroad are exposed to the risk of international trusteeship because of the participation of the United Nations to investigate the issue of the Iraqi Central Bank, expected to appoint UN special rapporteur to monitor the movements of Finance of Iraq, but the Iraqi Foreign Ministry denied this.

Noteworthy that the Iraqi Central Bank announced in August 2012 Iraq's reserves rise of hard currency to $ 67 billion from 63 billion. Furthermore, official denied the central bank can manipulate government these precautions, and said: «is still under the tutelage of the United Nations under paragraphs seventh item, and proceeds from the sale oil goes directly to the account itself, and even going out of the trusteeship is already present in the bank U.S. who refuses any requests issued by the Iraqi government regarding financial withdrawals outside the framework of the budget, and this is agreed with the United Nations to prevent any theft operations in Iraq, which continues to suffer instability.


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You guys can keep going at it, or agree to disagree. We will find out what the rate is when it happens. Until then, its all speculation. I do agree with Neno, though I can provide some punching gloves if that would resolve the issue. :)

actually Neno removed most of my statements, cause I was proving him wrong!!!! so your only getting half the story!!!!

onecinful1 wrote:actually Neno removed most of my statements, cause I was proving him wrong!!!! so your only getting half the story!!!!

Removed your statement, Dude, your really pushing it. I am leaving to go see parental guidance with my wife, maybe I will learn something... lol

Cross-Eyed Mary wrote: IT DOES SOUND STUPID DOSENT IT.......... THAT WAS THE POINT........ I left the gate open but you got out a ran stright for the trap.(I just made all that up.)

Ummm..... OK! next!!!

I will say that opec only in charge of rates as far as oil for foor programme where rate changes directly linked to oil production! other than that IMF! now I though I was bad enough! but everything is sepcualtion until that day comes when zeros removed, or lower denoms introduced or rate changes! as for 14 days when lifting of sanctions! well I have ready every page on the IMF's website and connto find such a statement! so until 7 is lifted and rate changes is ALL speculation!

One of the most common misconceptions about OPEC is that the Organization is responsible for setting crude oil prices. Although OPEC did in fact set crude oil prices from the early 1970s to the mid-1980s, this is no longer the case. It is true that OPEC's Member Countries do voluntary restrain their crude oil production in order to stabilize the oil market and avoid harmful and unnecessary price fluctuations, but this is not the same thing as setting prices.

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if you think things have changed since then wake up ! LOL

Given that OPEC Countries produce about 43 per cent of the world's crude oil and about 60 per cent of the crude oil traded internationally, any decisions to increase or reduce production may lower or raise the price of crude oil.

thers yA link now debate dat! LOL

OPEC seeks stability in the oil market and endeavours to deliver steady supplies of oil to consumers at fair and reasonable prices. The Organization has achieved this in a number of ways: sometimes by voluntarily producing less oil, sometimes by producing more when there is a shortfall in supplies (such as during the Gulf Crisis in 1990, when several million barrels of oil per day were suddenly removed from the market).

everthing here says they controll it guees i was rite .. lol

with oil price fixing comes rate price fixing its all ways been dat way seeing how rates are set by the IMF seems simple to me ! so any time ya need help with ya links let me know!

The International Monetary Fund was set up to encourage and support international monetary cooperation as well as stability of exchange rates. The IMF also had a brief to smooth the progress and growth of international trade and at the same time make available resources to assist members overcome their balance of payments problems or to reduce poverty.

There are currently 187 countries who are members of the IMF ([You must be registered and logged in to see this link.]) and they have all agreed to subject their economies and policies to the overseeing of the international community. Each country has also committed to follow policies that are favorable to balanced economic growth, price stability, and the avoidance of exchange rate manipulation which could be construed as promoting an unfair competitive advantage. Furthermore, each member is committed to providing to the IMF economic data. This surveillance by the IMF is intended to have a regular check of economies and recognize weaknesses that are grounds for economic instability.

Although it has been since 1861 a standard of international law that states have every right to control their own currency, the main concern of the IMF is that the relative value of currencies remains one of the highest priorities of the international economic community. In fact the IMF Articles categorically state that restricting currency payments in order to re-establish a positive balance of payments as are practices such as discriminatory currency practices and those members are required to preserve a cohesive exchange system. So in part the IMF members have accepted voluntarily some constraints on their monetary independence.

The IMF has the responsibility of maintaining a strong scrutiny over exchange rate policies and according to IMF Articles each member state shall refrain from manipulating [You must be registered and logged in to see this link.] to achieve an inequitable competitive gain over other members. However, as has been the case with China it is almost impossible for the IMF to categorically offer proof that their exchange rate was manipulated in order to achieve trade advantages over another country. So in practice although the IMF overseas the exchange rate policies of its members if one or more members manipulate their exchange rate it is very difficult for the IMF to find the burden of proof. However, the mere fact that they have a watching brief is a deterrent against the outright manipulation of exchange rates and although the IMF does not directly determine exchange rates it at least ensures a certain amount of stability in the foreign exchange markets.

its called controll its been done this way for quite awhile .. lol