Iraq is under constant attack from the transnational terrorists of Daesh, who call themselves the Islamic State and seek to pull our country and region apart. The terrorists’ tactics reflect the age-old strategy of divide and conquer: They are aiming to exploit ethnosectarian strife, strip our state of its sovereignty, occupy as much of our country as they can, and slaughter or exile anyone who will not swear allegiance to their vile brand of jihadi Salafism.
Misguided comments — such as those last week by former U.S. Army Chief of Staff Gen. Ray Odierno, suggesting that partition might be the only solution for Iraq — only embolden these brutal terrorists.
That is why it is so important that Congress and President Barack Obama’s administration continue to make clear that the United States is committed to the unity and territorial integrity of our country. To this end, Washington needs to continue its current practice of arming local and regional forces only through the government in Baghdad, and must insist on good faith implementation of last year’s oil revenue sharing agreement between the central government and the Kurdistan region.
Unity remains Iraq’s best hope to effectively defeat Daesh. The only way to drive it out of every inch of our country and liberate every segment of our society is to strengthen the national, regional, and local ties within our nation. This includes our security forces: Out of respect for the sovereignty of our country, and in order to ensure the cohesion of these disparate forces, it is essential that all foreign military support be provided through our national unity government in Baghdad. Any other course of action will inevitably lead to division, demoralization, and defeat.
Yes, the Kurdish Peshmerga are courageous. But their mission is to defend the Kurdistan region, not to liberate Anbar and other predominantly Sunni Arab provinces of our country. That is the responsibility of the Iraqi security forces — and no other force has the capability, mandate, or will to defeat terrorism across Iraq.
A significant proportion of foreign assistance that arrives in Baghdad is immediately delivered to the Kurdistan Regional Government, or KRG, and there has not been a single instance where a shipment to the Peshmerga has been blocked or delayed by Baghdad. Even though most of the fighting since last summer has focused on areas where the Peshmerga are not present, Baghdad has to date approved the delivery of some 370 plane loads of defense equipment donated by coalition partners to Erbil.
The Iraqi government is also working with tribal forces to ensure that they have the weaponry and support to liberate their local communities.
But retaking every inch of Iraq requires rebuilding a military that more inclusively integrates these local forces.
But retaking every inch of Iraq requires rebuilding a military that more inclusively integrates these local forces.
To this end, the government is seeking to create a national guard, which would be manned by local citizens charged with fortifying the defenses of the communities in which they live. This will encourage locals to take greater responsibility for the security of their neighborhoods. The government has already submitted a draft national guard bill to parliament, and a second reading of the bill has been completed as part of the debating process.
Iraqi unity is also threatened on the economic front. Regrettably, one of our government’s signature achievements for national unity is at risk of unraveling.
Last December, we reached a historic oil agreement with the KRG under which oil from the Kurdistan region and the state oil fields in Kirkuk would be sold through Iraq’s State Oil Marketing Organization, or SOMO, in line with the Iraqi Constitution, while the government in Baghdad ensured that the Kurdish region receives its fair share of the federal budget.
However, the KRG has failed to meet its oil delivery obligations. It has transferred less than 50 percent of the agreed quantities of oil to SOMO over the past 6 months, while also independently exporting oil outside of the agreement and in violation of the constitution.
This is about more than money and oil — it is about unity and trust. The KRG needs to return to this agreement so all Iraqis can focus once again on collectively defeating Daesh. Just as importantly, we need to give all Iraqis an Iraq worth fighting for: a multiethnic, multisectarian, and democratic state that serves and secures all of its citizens.
While Iraq is fighting the transnational terrorists on behalf of the world, we cannot win without an international effort. In accordance with U.N. Security Council resolutions 2170 and 2199, the international community — and our neighbors in particular — are obligated under Chapter VII of the U.N. Charter to do much more to dismantle Daesh’s global financing and recruitment networks and to take action against the pernicious ideology of hate that continues to fuel this conflict.
The Iraqi people are forever grateful to Americans for their sacrifices for our freedom and security. To build an Iraq worthy of our shared sacrifices — and to save all of humanity from the scourge of Daesh — there are no quick fixes before us, only a collective effort to strengthen the unity of our nation.
ALI AL-SAADI/AFP/Getty Images
[3:37:48 PM] MY LADIES: SO WE KNOW THEY ARE GOING TO MAINTAIN THE DOLLAR PEG RIGHT?
[3:39:05 PM] MY LADIES: OK SO WHAT DOES THIS MEAN???
WELL WE KNOW THEY NEED TO BE INTERNATIONAL TO GET THE BONDS DONE RIGHT??
AND WE KNOW THEY NEED CUSTODIANS TO TRADE THE ISX RIGHT??
AND WE KNOW THEY ARE COMMITTING TO REVIVE THE PLAN OF REDENOMINATION RIGHT?
SO WE NOW KNOW THEY WILL KEEP THE DOLLAR PEG RIGHT??
SO IF THEY ARE GOING TO SETTLE IN THE DINAR THEN THE EXCHANGE HAS TO BE ON PAR WITH THE INDEX RIGHT?
AND IRAQ IS TELLING US THEMSELVES THEY WILL NEED UNTIL 2017 SOMETIME TO BE DONE WITH CURRENCY REFORM RIGHT?
SO ALL OF THIS AND NOW THE IMF HOLDING OFF THE BASKET IMPLEMENTATION TELLS US THAT WE SHOULD SEE AN EXCHANGE RATE NOW-ISH WITH A DOLLAR PEG ON PAR WITH THE
INDEX AND THEN LATER WHEN EVERYONE BEGINS THE SWITCH TO THE SDR THEY WILL HAVE TO DO WHAT??
[3:46:57 PM] MY LADIES: IF THEY ARE TAKING THE DINAR ACROSS BORDERS RIGHT …AND MAKING IT CONVERTIBLE RIGHT ….AND IT WILL BE EXCHANGED TO THE INDEX RIGHT… AND
SETTLED IN THE DINAR…. HOW THEN CAN THEY PRICE IT BELOW THE INDEX?
SO THE MORAL OF THE STORY HERE IS DO NOT EXCHANGE YOUR DINAR ALL AT ONCE! THEY ARE TELLING US THEY
NEED UNTIL 2017.
IMF IS TELLING US THEY NEED UNTIL THE END OF 2016. IRAQ NEEDS TO PUT ON TRAINING WHEELS AND BECOME CONVERTIBLE NOW SO THEY WILL DO THAT WITH A DOLLAR PEG, BUT
THEN LATER WHEN THEY HAVE ALL THEIR CORRECT CURRENCY AND ARE READY TO TAKE OFF THE TRAINING WHEELS THEY WILL PEG TO THE BASK AT A REALITY RATE REFLECTING
THEIR GDP BY THEN AND THEY WILL HAVE A NEW PERMANENT RATE. WHICH ALSO GOES TO THE IMF STATEMENT OF FUTURE EVOLVING CONDITIONS.
[3:53:02 PM] MY LADIES: AND IF WE REMEMBER THE CBI EXPLAINING TO US THE 3 CURRENCIES THEY SAID THEY WILL ALL RUN TOGETHER FOR 10 YEARS.
[3:53:33 PM] MY LADIES: AND WHAT ARE THOSE 3 CURRENCIES???
THE CURRENCY THEY HAVE NOW, AND THEN THE 50K AND 100K IS NUMBER 2 AND THEN THE PERMANENT ONE WILL BE #3
[3:56:09 PM] joeyjoey100: Just looked at surrounding Arabic countries and Iraq would bet on a level playing field. Especially at pre-war values
[3:56:11 PM] - SAGER -: So technically we should see a reality rate reflecting Iraqs true wealth for the iqd by September 2016
[3:56:41 PM] MY LADIES: YES JOEY BUT THOSE OTHER COUNTRIES DO NOT HAVE A DOLLAR PEG
[3:57:07 PM | Princess DD: That (Sept. 2016) is when they said China is most likely going into the SDR basket too.
[3:58:10 PM | MY LADIES: WELL THAT'S RIGHT AND THEY WILL VOTE ON THE BASKET COMPOSITION THIS YEAR AS PLANNED BUT THEY WILL IMPLEMENT NOV OF 2016http://www.imf.org/external/np/sec/pr/2015/pr15384.htm
PrincessDD: So technically we should see a reality rate reflecting Iraqs true wealth for the iqd by September 2016?
MY LADIES: NO, SOMETIME IN 2017
[3:58:59 PM | Princess DD: So we still have the bonds coming up for selling at that 1095 rate unless something has changed.
[4:00:03 PM] MY LADIES: NO NO NO...I THINK THAT 1095 WAS IN THE COUNTRY OR SOME SORT OF CRAZY..BUT WE HAVE BONDS COMING IN SEPT AND THE MEETING WILL BE JUST PRIOR TO DETERMINE VALUE.
[4:00:15 PM] MY LADIES: REFLECT ON MY EARLIER POST.
[4:00:45 PM] MY LADIES: THERE IS STILL ONE STEP LEFT AND IT IS THE FINAL STEP, NOW THE UNDERWRITERS ARE TALKING TO THEIR INVESTORS TO GET A FEEL FOR THE APPETITE
FOR THESE BONDS AND THIS WILL HELP THEM HAVE A STARTING POINT FOR THE SALE. SO WE WILL SEE INVESTORS WEIGHING IN SOMETIME IN SEPTEMBER AND USUALLY NOT
ALWAYS BUT USUALLY THESE ARE THE SAME INVESTORS THAT WILL PURCHASE THEM OR THEY WILL PUT THEM TO THE MARKET RIGHT ON THE HEELS OF THE INVESTORS OPINIONS,
SINCE THE OPINIONS WILL BASED ON THE CURRENT MARKET THERE WILL BE NO WAITING TIME AFTER THE INVESTORS MEET
[4:02:41 PM] MY LADIES: WE SHOULD SEE A RATE NOW-ISH BUT NOT A SDR VALUE UNTIL THEY SWITCH PEGS
WHEN THEY ARE DONE WITH THEIR REFORMS AND THE CURRENCY AND THINGS ARE CORRECT THEY WILL SWITCH PEGS TO
THE SDR
[4:07:29 PM] Humminbird: Mary please help--with a peg to USD at par would be $1 IQD to $1 USD right?
[4:10:28 PM] MY LADIES: WELL SORT OF HUMMING BUT I THINK THE INDEX IS 0.98 NOW..
[4:10:43 PM] MY LADIES: SAGER WHAT IS THE INDEX TODAY???
[4:11:13 PM] - SAGER -: 96.38
[4:11:30 PM] MY LADIES: THANKS
-- Edited by chaliceman on Wednesday 19th of August 2015 05:09:06 PM
-- Edited by chaliceman on Wednesday 19th of August 2015 05:24:38 PM
A cousin of mine was a vp of Exxon and lived in Libya for many years. So he is extremely familiar with the workings of the oil industry amongst the middle east countries. He knew a handful of people that were involved with currency revaluations in various countries. He has always told me that yes, you can make a lot of money; however, if you're not careful, you can lose a lot of money. He personally knew several people that were convinced if they kept waiting for the rate to go up, it would be to their benefit. Unfortunately for those individuals, events happened unexpectedly in the middle east and it affected currency rates and they ended up losing money on the revaluation. He has always maintained with me to use extreme caution with this revaluation, that when it does revalue, I should not take too long to exchange out the currency. Even though he knows of individuals who have participated in a currency exchange, he has some trepidation with this RV due to ISIL and other economic factors in play at this time. I have assured him, though, that this RV is happening and there's a lot of documentation pointing to the RV.
The bottom line is this: Use EXTREME caution if you choose to not exchange for an extended period of time.
They just make this stuff up. Nothing here...move along.
The only IMF/SDR news that is at all interesting, but not unexpected is that as you have read the IMF has officially said they may revisit the Yuan being added to the basket in late 2016. Maybe, if they feel like it and it shows the power of the Dollar people and how long it is going to take for the whole BRICS thing to mean anything about anything that affects us. A long time.
Dinar Land BRICS jabber for the last year was a total waste of time.
works for me either way. patience is a virtue.
B2
who does this make sense to.......
I disagree with this one....
When I used to go fishing with my father in law, I would cast at a target and when I missed by more than 6 inches he would say , " you might as well have put that plug in your pocket"
Totally missed the target and so did this writing.