Iraq VP Al-Hashemi vetoes election law
It can get REALLY confusing when you’re trying to keep up with what’s going on in Iraq, with the two Vice Presidents doing one thing, Iraqi Parliament doing another, the Iraqi President vetoing this and pushing for that… so what’s really going on over there with this dang election law?!
Quick history, for those of you just joining. The elections in Iraq need to take place in January for progress to continue smoothly. After many heated debates, Iraq Parliament finally agreed on a law that would encompass the upcoming voting for said elections. This should have cleared, but Sunni Iraqi Vice President Al-Hashemi vetoed article 1 in the proposal, insisting that the percentage of displaced Iraqis (mostly Kurdish) were not adequately represented. (Only 5% of displaced Iraqis were being given votes, VP Tariq Al-Hashemi is suggesting 15%).
*Big breath……*
The UN is supporting a constitutional move to secure voting standards (i.e. the law Al-Hashemi vetoed).
Shi’ite Parliament legal committee leader, Baha al-Araji, insists the constitutional court’s ruling is valid and the vice president’s veto was uncalled for and unconstitutional.
Iraqi parliament leader Iyad al-Samaraie states that the legislators are considering overruling VP Al-Hashemi’s veto.
Iraq’s Prime Minister Nouri al-Maliki says the veto is a dangerous threat to democracy and political process.
Iraqi President Jalal Talabani admits that Joe Biden and other US Officials are pressuring Iraqi Parliament to find a solution and proceed with the elections.
Now, the million Dinar question IS:
Do you believe the elections will take place in January, or will they be delayed?
And the TWO BILLION DINAR question:
Do we NEED the elections to be secured before we see movement on the Iraqi Dinar?
Related posts:
1. yes.it will be on January
2. yes.
adam,
What is the latest word on the RV of dinar and dong?
Elections will happen in January. To much Oil at stake
Elections not required on the Dinar RV. Reason again is that Oil producing countries do not want their money devalued by a under valued Iraq Dinar
Adam
Do you really think that it will RV and if you how do you know. Who are your contacts? Not names but positions or are you part of the dinar selling process and pumping? Can you level with me in private
I believe the elections will be delayed. We need a solid election law in place before we can even consider an rv.
A lot of changes can happen in December; the elections may or may not happen in January. I don’t think the elections are necessary for the dinar to improve. Maybe the dinar will improve, the politicos will calm down and they will reach an agreement leading to more democratic elections.
#1: In my opinion the election will not be held as scheduled. It appears that if Hashemi does not get what he wants, then there will be demonstrations. IMO, Hashemi does not care what the UN or the US wants.
#2:If the CBI has signed an agreement with FOREX, then Iraq would risk FOREX pulling out of the deal.
in jan..
yes
Adam I think the elections will still be held in January. I also think there will be a RV of the dinar before elections.
I have been holding on my Dinar since 04/05 when I was a contractor in Baghdad. Over 4 years of waiting…Look it is not IF these Dinar go up, it is a matter of WHEN…It will happen the Million Dollars Dinar Question is when??
Many Believe very soon, and so do I (IMO).
Iraq has to be at the same level of the other Top Oil Countrys -in order to have the same playing field. IT will happen just be patient.
Just my .02
1. The elections will take place in January if they resolve the before mentioned issue at hand. If it is not resolved, I believe they will be delayed.
2. I do not see a direct connection with the timeliness of their political elections and the revaluing of their currency. As stated by the finance minister before, the Iraqi government is held separate from the Central Bank.
don’t know how its related, but somehow I guess it all ties in, there are 50 oil tankers waiting off the coast of Britain, apparently waiting for the oil prices to be escalated before they will release the oil they are holding???????
Yes to January.
No to the second.
Adam: I only know what I glean from dinarvets and ktfmissions websites. I am on the chat a lot as well. I just don’t say anything.
All I can say is if Mr. Maliki wants to get elected, he better hurry up and post (announce) the RV or RI to help his people and us. I do not know the mindset of the Iraqi people, but get the sense that you and others who have been there understand all the arguing among themselves…..I am so disgusted with my american politicians and so-called lawmakers…..but the US seems to have power over decisions about currency in Iraq.
They can IMO…..reval without election law. That’s what I think they should do (a no-brainer for me). If it’s over 2, elections would probably go great in M’s favor.
Considering the Iraqi “last minute decision making history” – the election will probably be put off till the last second
I thought the HCL and the UN sanctions had all been lifted or been taken care of and still people in the “know” keep saying those 2 things still need to be done. Please write me back with answer on this. Thanks a bunch mpierce5555@yahoo.com
After the reval, Adam, I will need advice on investing some of my “millions” – God Bless you and all the leaders of this website. marilyn pierce
Yes I believe that the elections will be delayed, for some reason the Iraqi’s can not agree on anything and in order us to see an investment in the dinar there needs to be a steady gov. It will take longer then anyone thinks, i have been holding onto the dinar that i have since 2003 waiting for something to happen. There have been times where something like this comes up but there were set backs every time.
Of Course the elections are necessary. There has to be an recognized government.
I think elections will be in jan and Rv in dec for maliki to be reelected. he is our pick and the country needs the money. IMO I don’t think they will hold off longer than dec due to the Forex becoming involed now and that they are now responsible for their debts.
1. Given the history of Iraqi and it’s past disputes within the country I would have to say that I beleive the elections will be delayed…IMO. Now having said that, I’m also optimistic that the two sides will come to an agreement on the law.
2. It’s my understanding that a solid election law would have to be in place before rv based on intel from multiple sources. Iraq is in the top 5 for most corrupt countries. I also believe that Iraq is using the rv as political bait to get under the table deals done with other countries so I think it alot bigger than the election law being passed…..political positioning by the two tribes in Iraq.
Like I Said in the Chatroom.
There will Not be any rv until
after the Elections. Said that back in
October, got creamed for saying that.
Now Elections in January,
thats Difficult to Say.
But, like everything else, it’s
out of Our Hands.
Adam,
To be quite honest with you people in that culture are the most unpredictable in the world so anything is possible. Also, the powers that be, that is, those that make the final decision on the RV are liable to do anything.
So my advice is don’t bet the farm, be prepared for the worse and hope and pray for the best.
Whatever and whenever it happens remember:
God is good!
Jeff Brown
I partially agree with #16 1nd 17. I think the RV will take place BEFORE the election so as to help M get re-elected! Also since the IRAQI Govt is so disfunctional the election will be slightly delayed because they all can’t agree on anything. I suspect the RV will match whatever the EURO is at the time ($1.49)?? Mathematically the RV should only be in the $0.10-0.30 range but with all the side-dealsbetween the various countries and banks they will RV at over a $1.00 greed will prevail and the people behind the scenes will make tens of billions while we will make only millions. The US supposedly holds 4 trillion dinars themselves.
regardless of election iraq oil and gas possabilities are there no matter who is running the country they surley can use the finantial investers in foriegn countries just a thought stewart
GUYS
WE FALL VICTUM TO PUMPERS.
THE AVERAGE CURRENCY VALUE IN THE MIDDLE EAST LARGEST OIL PRODUCER COUNTRIES IS $.17 TO THE USD LEAVING OUT KUWAIT AS THEY ARE NOT PINNED TO THE DOLLAR. WHAT MAKES ANYONE THINK THIS WILL HAPPEN. WE ARE ALL NUTS AND ADAM IS ONLY CONNECTED TO THE DINAR SELLERS, HE IS THEIR PUMP. I WISH SOMEONE COULD PROVE ME WRONG
Whatever will be will be. Those of us who are looking at the huge potential for return to be found in Iraq have a long term vision…not an RV and out. I invested in 2005 and I am in no hurry. In my opinion, until we have an elected government, nothing really big is going to happen
RV soon….. The world is tired of waiting.
HE BULLET
IF THE US HOLDS 4 TRILLION DINARS AND GETS AN RV ITS WORTH $6 TRLLION DOLLARS. WOW, WE COULD RETIRE THE NATIONAL DEBT.
It is confusing… I was perusing the internet for more information. I don’t know what to think about the news… Like everyone, we would like to know the answer to the 2 Billion dollar question?
I hope it will be sooner than later, we can help change lives.
Thank you Adam for your perspective.
Bill,
really, you can’t be serious…you think our government couldn’t use 6 trillion dollars right now, especially when they only need to invest maybe a couple hundred million. lets see if I invest a couple hundred million dollars and make 6 trillion (example only, no math was done) THATS A HUGE DEAL! by the way I’m sure that the US bought the dinars for way less than any of us could (thats if they had to pay anything at all).
WHO KNOWS?….Be patient
I think the election is an important step in everything going on in Iraq. I don’t know if it has any bearing on the rv.
For those that are skeptical about the dinar -nobody is holding a gun to any of our heads to invest in the currency, but I can tell you my 401k sure has suffered greatly so why not take the same risk with the dinar!!
1.Yes
2.No
The GOI needs to be stable before an RV could happen. Why RV if the government falls apart? The UN is waiting for Stability
I do think that the coming elections will take place sooner than later, and the dinar will be re-instated to what figure???
Depends heavily upon energy (not good or bad).
Thoughts are generated by energy (not good or bad) . No thoughts manifest until they do.
Never, never feel empty… always know…there is a universe of possibilities, as long as there is consciousness.
nice.
Adam,
I mainly post my full thoughts and research on Dinarvets.com, but I will shorten my response as best I can here:
#1. My gut tells me that the elections will be held in January. This is mainly based on my knowledge of what the “everyday” Iraqi on the street wants. They are tired of the current Govt. and see nothing but corruption and self-interest from their Parliment. I have been told time and again that the GOI has done great things for the GOI, but nothing for the common man of Iraq. They want a change! I also believe that although the GOI loves to gloat that they will not be pressured by the US or UN, they know full well that the eyes of the world are on them. If they want the world recognition that they claim to deserve, then they must not loose face when related to following their own constiution.
#2 That’s a tough question to answer. I wish I had more facts related to their laws; and if this is not related to law, then more facts about the politics related to Chapter VII and how that relates to the world view of Iraq taking their place on the world markets. What we do know is that the CBI and MOF has been thinking and researching ways to “RV” the IQD for years now (unfortunately, most of the known articles talk about a LOP). Either way it’s been on the table for years; and up to Jan. 2009 the CBI’s manipulation/appreciation of the IQD was very evident. So what we have facts of is that an appreciation of the IQD has already been done in the past without the need of the GOI (laws). But I have serious doubts that they can “RV” to say something like…$.05…without the worlds approval that they are a stable country; and I don’t mean this as an official signed-off approval. What I mean by this is that if the IMF, World Bank, U.N., U.S. and other Major Countries give the “ok”, and sanctions are lifted, then investors will pour in exponentionally. Yes, Investors and business/oil producing companies are pouring now, but not to the amount they would if all sanctions were lifted and the world acknowledged Iraq as one of their own on the world markets. I really think we need something like this to happen for such an “RV” to occur. On the other hand…IF Iraq is ready for this already, then an “RV” just before elections would be a great “trump card” for Maliki and the Miniter of Finance. The facts on the streets of Iraq and in the news is that Maliki has fallen out of favor with most Iraqi’s (mainly over the security situation), and one of Maliki’s rival’s in the election (the current Minister of Interior) has also fallen out of favor. Taking into account the Arab/Iraqi way of doing things, it stands to reason that both men are looking for strong ways to bring the people back to them; and the common man in Iraq wants the common things in life…better food, better housing, better public works, more purchasing power out of their currency, more jobs…and a reliable system to keep it all running.
Sorry…I hope that wasn’t too long. Thanks.
I think the answer is in consensus. When the world agree’s that Iraq has been a success, then we can hope for rv. The economy of the world is under the spotlight. Iraq’s oil is it’s tangable asset, gold is a tangable asset. US debt is not an asset. I think we should all throw our shoes at the IMF.
I believe, and that’s all this is, is my belief, that before any currency can improve the government of that country must be sound and united. You see how the opposite has affected the US dollar in the world market. If all Iraq’s political differences can be put aside then we will definitely see movement on the Dinar but if not then the country will not flourish and countries/companies willing to invest in Iraq will become less and less.
I believe
1.I believe after working in iraq in several locations from 2002-2006 and seeing how the iraqi people are so hardheaded and do not care about how there country does well at least 50% do and how delays happen all the time and voting so unorganized that THIS JANUARY ELECTION WILL BE DELAYED DUE TO THE RELIGIONS STILL CLASHING WITH EACH OTHER AS THEY ALWAYS HAVE AND CAN NOT EVER MAKE UP THEIR MINDS. They just do not undestand that if they would just except the change for their county would make it a inriched country and would help all their people if developement and infurstructure would make a great difference.
2.I think the dinar would change if if the right key people are elected and would take time for them to make it change.
I thing they are pushing hard for the elections to take place and I believe they will.
The Dinar will revalue as soon as Iraq is a completely sovereign nation. (elections done – US out of the country)
I’m sure the elections will go as planned. I also believe the RV will happen soon, sooner than some supect.
suspect*
I think the elections will happen in January. I believe that the VP is one little voice among many that want to move their government into a stable and functional future.
I struggle with understanding markets and how the price of a dollar/dinar goes up or down, but this is my thought. I think that once the government stabilizes the economy will hopefully become more stabile bringing more money into circulation. From what I do understand people are afraid to invest in something when a government is unstable, they like to have faith that the government will back them up.
In my view the sectarian lines in Iraq are very very delicate and given the present situation I would not be surprised if the elections will be postponed.
About a possible RV without an Election law. I don’t know if a law is necessary for a RV. I think the RV is necessary to attract investors and to improve the lives of Iraqis. I would say these two things are kind of urgent. A RV soon is possible. But not with a high rate. 0.10 or 0.20 cts and after the that a slow process of appreciation to a higher level. A process of several years.
#1. I wish I was more educated about the subject, mine is a guess, but I think the election will take place.
#2. I do not think the election needs to take place for the rv to happen. Thanks for all you do.
Yes..I believe it will be delayed.
No…I don’t believe the elections have
anything to do with the RV.
MY THOUGHTS TO QUESTION NO 1.
They shouldn’t be able to get around the Law. If they did, they would be violating their own Constitution. However, that doesn’t seem to affect them. Apparently they do want they want even at the cost of their own fellowman. So, being a US Law Abiding Citizen with a Civil mind I would opt to think it will take place.
MY THOUGHTS TO QUESTION NO. 2.
I believe there are many stipulations to gain Power Control by last minute mind change. Yet, without a doubt, Iraq needs to be proved as a stable Country to the Nations in order to estsblish a RV. Therefore, yes, it will give us a much greater window of opportunity to see a RV! When it comes down to it, it’s all in the Lord’s hands. When He says “Release” then and only then will we see each other at the bank!
A QUESTION TO ADAM:
If I am right on both questions, does that mean I get THREE MILLION DINARS?
All of you do not know what I know. I won’t answer your two questions but rest assured that all of you will be very rich very soon. Insha-Allah! Do not start to be so charitable to donate some to siblings, some to in-laws and some to strangers. Be inspired in the saying A great fortune in the hands of a fool is a great misfortune but a great fortune in the hands of a genius is a greater fortune. Please capitalize this great fortune to raise profits and use these profits for whatever reasons without touching one single cent of your capital. Do not be in a hurry to buy whatever you want till you earn that profits. How to earn that profits? Do not go into any business till you are thoroughly guided by legall-qualified professionals who have years of financial success proven and accepted by society. I am also one of the gifted persons who have foreseen the up-and-coming plan of reinstatement or revaluation at an excellent rate. Just be patience and pray together to speed it up. We all must thank God for being merciful and generous to us during this severe financial crisis which will be temporary and US Dollars will have to go up by next year if all the business strategies are revised against RMB currency right now onwards. If you are truly inspired here, the two questions are already answered. The show must go despite someone opposes a pro-American Shia PM Maliki who rules the 80% of Shia community and 20% of Sunni community of which the great majority of middle-class Iraqi voters are fed up of being unable to buy a car to travel around a big land in Iraq without excellent transport systems since 2003. The US, IMF, UN, World Banks, CBI, World Key Bodies and others are so worried if anti-American politicians won in the general election day, they won’t have oil reserved for their urgent needs. Kuwait oil reserves are not sufficient for the high demands of many foreign buyers who placed orders in advance. PM Maliki is at an excellent advantage of demanding his national currency to reinstated asap, not revalued. Who is king? The oil seller or the driver of a car, ship, train or an aeroplane who just found out his vehicle oil tank is empty and unable to move? Please rethink and be smart as you age.
Sorry to have made a few grammar mistakes in my message mentioned above because Adam Montana doesn’t have a preview in this box for us to check first before submitting comment.
Anyway, Insha-Allah! means By God’s Wish! or By God’s Permission! This is clearly stated in the Holy Bible under The New Testament of our beloved James 4:13-17.
Let us say Insha-Allah! to the Reinstatement or the Revaluation of Iraqi Dinars(IQD) to be fulfilled by God before the general election date comes.
Insha-Allah! Amin! (in English, Amen!)
Joop, you are still living in the past. If Libyan Dinar was revalued not long ago from some 10 cents to $1.80 which a handful of Singaporeans turning multi-millionaires on that final day whom we first thought they were crazy investing on such a then lousy currency in a land of corruption and terrorism and its Libya’s oil reserves is positioned no: 9 far below Iraq’s oil reserves in position no: 4, it is a pure insult to Iraqi government for such an unfair treatment. There will be a lot of unnecessary paperworks and time wasted to gradually raise the rates from 10 cents to 20 cents to 30 cents to 40 cents from time to time like supermarkets’ yearly sales. Do you know what is exactly Reinstatement or Revaluation of a national currency meant? When a national currency is approved by the whole world, it is floated into Forex to join the world market as a recognised currency and then from there, you can say economic fluctuation will decide how its rate may be raised or brought down by few cents or more. Presently, Singapore banks has no legal Forex dealing with Iraqi Dinars yet.
Presently, Singapore banks have no legal Forex dealing with Iraqi Dinars yet but if it does, laugh your way safely to bank. Don’t be knocked down by car and die holding it tightly.
We’ve got insiders of CBI who told our business friends in Dubai that IMF offered Iraqi government US$1.49 = 1 IQD and PM Maliki and all his supporters were pissed off as they had demanded with persistence for US$3.27 = 1 IQD.
Like I said earlier who is king here? The oil seller in the desert or the driver of a car without any oil left to move further right in the seller’s petrol kiosk. Rethink fast! Go and buy more Iraqi Dinars right now before it is too late.
It is better late than never but sometimes, late is not any better as well. Nike shoe maker says: Just do it!
Let me gove you the contact of our Singapore Authorised Money Changer:
Farook H/P: +65 90666570
or +65 65336556 & Fax: +65 65337667
at 16 Collyer Quay #01-01
Hitachi Tower, Change Alley
Singapore 049318
Some of you might notice triple six or 666 in all his phone contacts but do not be superstitious he is a beast of the 666. He is a trusted Muslim person who delivers his promises punctually and his business partner who supplies him genuine Iraqi currency is a Jewish. As far as money business is concerned, Jewish are more reliable than others. But please stay away from Nigerians with certainty they are 101% scammers. Ever heard of Nigerian scams online? Just google search for more info about their stupid scams all over the world. Don’t believe me, then try your luck with them? If anyone protests against what I have said in this blog, he or she must be a Nigerian himself or herself.
Hi Mohammed,I leave in Dubai I m not nigerian, and I dont beleive what you said about the RV…NOBODY myfriends kows…you dont for sure and your friend dont either….got friends all over financial businees in Dubai and nobody have an idea about the Date of the rate of the RV so i dont really know from where you got this 3.27 rates….stop giving false hopes to the newbies.
Thanks alot.
Mr. Mohammed is aggressively marketing for Dinar Sellers. In his desperate attempt to please his employers, he write down some of the most stupid things no one ever written in this blog. I am also staying in Dubai and is in fact working as Finance Manager. Through my position, I too have a lot of contacts in financial world and no one is aware of such and RV news as Mr. Mohammed claims to be. I have now come to realize the intention behind all this rumour mongers and request the innocents to be careful in falling to such promoters trap.
Wow, some awesome comments on this one!
http://en.aswataliraq.info/?p=122321
Parliament did NOT discuss the VETO on Saturday, hopefully that’s because it was unnecessary? We will see.
I think the election has to come to pass in order for us to rv . The transaction of the parliament will all have to be processed in the right order and in place before the rv can come in.
* Iraq seeks to reduce war reparations payments to Kuwait
* Baghdad wants U.N. to press ahead with bombings probe (Adds comments from U.N. official, Iraqi envoy)
By Louis Charbonneau
UNITED NATIONS, Nov 16 (Reuters) – The United Nations is outlining a plan to help Iraq end its dispute with neighboring Kuwait over war reparations, 19 years after Baghdad invaded the oil-producing Gulf state, a U.N. official said on Monday.
Baghdad wants the U.N. Security Council to reduce its reparation payments to Kuwait, which it ordered Iraq to pay after the 1991 Gulf war ended Iraqi leader Saddam Hussein’s 1990-1991 occupation of Kuwait.
Iraq says the reparations — more than $20 billion — are unfair and wants the amount reduced so it has more money for reconstruction and development. It has called for annulling Security Council decisions requiring the payments under Chapter 7 of the U.N. charter.
U.N. special envoy to Iraq Ad Melkert told a meeting of the 15-nation council on Iraq that a top priority was the “normalization of (Iraq’s) regional relations, not least with Kuwait, and the related exit from Chapter 7 provisions.”
Melkert said the U.N. mission in Iraq would outline a plan for achieving this.
“We will seek consent of both parties to define a mutually agreed agenda, the completion of which should resolve any remaining issues and should normalize Iraq’s position within the U.N.,” he said.
Kuwait opposes ending Iraq’s Chapter 7 status. But council diplomats say they might vote to lift the restrictions in the coming months, paving the way for Iraq to renegotiate the amount of reparations it pays to Kuwait.
OTHER ISSUES
Melkert told reporters that the proposal would cover an array of disputes between Kuwait and Iraq.
In addition to reparations, there is the issue of agreeing on the precise land and sea borders between Iraq and Kuwait, he said. Kuwait also demands information related to its missing citizens and the return of property the Kuwaiti government says was stolen during the occupation.
At the end of July Iraq owed some $25.5 billion in reparations, $24 billion to Kuwait alone.
Melkert said an agreement would likely have to wait until after Iraq’s parliamentary elections set for January.
Iraq’s U.N. ambassador, Hamid al-Bayati, told reporters that Baghdad was trying to locate some 600 Kuwaitis, a process that could take a long time.
He said that the lifting of Iraq’s Chapter 7 status should not have to wait until all missing persons were found or their bodies identified.
I am have just read on Reuters that the Iraqi government still cannot come to a decision with re regard to the elections and will return tomorrow and Tuesday to try and resolve it. It amazes me how everybody on the forums seems to have so much so called info saying it had been resolved, in my estimation no one knows anything and it is all pure speculation, the same aplies to the R.V. all these people with so called contacts are still saying it has happened or about to happen. What are your thoughts Adam.
Michael you are right, we don’t know anything about the RV…no one does from what I’ve read. So yes you are right. Whiskey Bob is also right. From what I’ve tried to research on internet news sources, his blog, immediately before yours, makes since according to what I’ve read. Kuwait wants their money, they want their borders identified, etc., before they agree with Iraq to have Chapter 7 of the United Nations Security Council lifted. Apparently this seems to be a big deal from what I’ve been reading. There are other issues also, it goes on and on. Jim Cramer on CNBC with Erin Burnett adds some validity to this whole dinar thing. One thing I do know is I’m glad to be off work and I’m ready to see spend time with our family over Thanksgiving Weekend.