"RV UPDATED: ANALYZING NEWS FROM IRAQ" BY MILITIAMAN, 10 OCT

 Militia Man  

 Article:  "The Iraqi Central Bank issues a warning to banks regarding dollar deposits." 

 A fresh edict from the central bank...Spelling out that the citizens have the right to redeem their deposits in the banks and that the monies are guaranteed and it is their inherent right to do so through or by the year 2024.  

None the less the unprecedented crowds ensued...What is unusual is...the way the Central Bank exposed those [banks] that didn't have the money on hand were apparently found to be speculating with depositors funds in dollars. That is not good and there will be consequences. 

The Central Bank is now going to take measures against banks that abstain from taking care of their obligations to the citizens.

Article quote:  "The United States has warned Al-Sudani's government eight times publicly ...American side has provided ample evidence the majority of buyers of the dollar are smuggling it out of the country to Iran, Syria and Lebanon." 

 Local and private banks don't have the dollar.  You're going to see how that plays out...The request for a specific cash [$1 billion] was denied by the Federal Reserve Bank...The black market is the problem and they just got pinched...

I think the US Federal Reserve Bank, US Treasury, Central Bank of Iraq and Al-Sudani got fed up and tired and said we're going to fix it whether you like it or not...the black market will go away if they do this properly.

Article "Director of Al-Sistani’s Office: The authority warned against corruption and called for combating it, but there is no life for whomever you call for."   

WOW!!  When the Supreme Religious Authority, Ali al-Sistani, speaks of a fatwa to follow laws...the people that fit the shoes and ware them better be careful to make things right and quickly.. Failure...will likely have significant consequences...

He issued a fatwa that money any employee or official obtains in violation of the law is forbidden. Also, wasting public money and appropriating it, or illegal disposal of it, is forbidden. That is some heavy stuff. Think of all those that are guilty in the line up.. 

 [NOTE: The Arabic word fatwa refers, in simple terms, to an edict or ruling by a recognized religious authority on a point of Islamic law.]