I just got off the phone with Ray. After reaching out to our contacts we can confirm that they will vote on the 2013 budget this coming Thursday. Without going into details, we are extremely pleased of the progress and the direction things are going.
Here is another point that many have missed. If you recall, Ray and I have stated that the Chapter VII restrictions placed against Iraq was lifted but no one really believes this.
I guess unless many of the negative people hear it from the United Nations directly, I would like to share an article that is proof that it has been done.
Dated January 31, 2013
EU amends sanctions regulation on Iraq
BRUSSELS, Jan 31 (KUNA) — The EU Foreign Ministers Council meeting here Thursday announced that it has amended regulation 210/2003 concerning certain specific restrictions on economic and financial relations with Iraq.
“This will permit the transfer of frozen funds to the successor arrangements to the Development Fund for Iraq put in place by the government of Iraq under the conditions set out in UN Security Council resolutions 1483 (2003) and 1956 (2010),” said the short statement without giving any details.
The Council also extended the sanctions against persons responsible for the misappropriation of Tunisian state funds, including former Tunisian President Zine El Abidine Ben Ali, by 12 months, i.e. until 31 January 2014.
Ok, so would someone please explain to me in details with proof that if the restrictions of Chapter VII has not been lifted then how in the world could this be allowed. If you all recall, Ray and I were bashed to hell for making this statement because no one believed it. (most probably still do not). Many have speculated that this has nothing to do with Chapter VII, but have had this confirmed by several very qualified people they know the sanctions inside out, and it does have to do with VII. I wanted to make darn sure before I made that bold statement.
Everything appears to have been completed and moving forward. Ray and I and every contact in the US and in Iraq stand firm on our rate that we have provided in our past posts.
We provide you with another update as we can obtain solid information.
Steve Added in post 57:
Here is another thing to think about. If in fact Chapter VII has not been lifted, Iraq would not be able to revalue their currency and pursue entry into the WTO in which by the way they are currently doing. There are many things you absolutely will not hear about until after the fact and when the timing is appropriate. There is no doubt in my mind that the United Nations is monitoring Iraq very closely and would never let them take the next step if it was not appropriate.
Another thing, Iraq is a nation with massive wealth and you can rest assured that things will be done under the laws and constitution of the country. There are no “do overs” in this process. You either get it right the first time, or it will not get done at all.
Everyone keeps asking about the timing after the budget gets approved. This I am not certain of. I know the process just not the timing between the parties involved. With it being now into February with not working budget to move the country forward, I can safely assume the parties to be will not drag their feet, but rather just the opposite.