Dinar friends,
This is nothing to worry about. 
I was expecting them to come out with something regarding the Notice of Continuation today, because I believe there was a legal question concerning the legal authority to continue protection by the executive order, when the UN Resolution that underpins it is expired. If you recall, the Continuation that Obama signed in May ACTUALLY WAS (and IS) FOR ONE YEAR. He mentioned in an address (letter) to CONGRESS, that he would “evaluate” whether to continue it or not on June 30th. The reason he said this was because of the aforementioned legal question. Apparently, they have figured a way to continue it, regardless of the UN Resolution expiring today.
I believe this is how. Notice the following in the announcement that came out today:
Quote
Iraq has made significant strides in resolving its outstanding international liabilities and continues to work towards returning Iraq to the international standing it held prior to the Saddam Hussein regime.
Now look at the actual text of the Continuation of EO 13303 he signed in May:
Quote
Because the obstacles to the orderly reconstruction of Iraq, the restoration and
maintenance of peace and security in the country, and the development of political,
administrative, and economic institutions in Iraq continue to pose an unusual and extraordinary
threat to the national security and foreign policy of the United States, the national emergency
declared in Executive Order 13303, as modified in scope and relied upon for additional steps
taken in Executive Orders 13315, 13350, 13364, and 13438, must continue in effect beyond
May 22, 2011.
maintenance of peace and security in the country, and the development of political,
administrative, and economic institutions in Iraq continue to pose an unusual and extraordinary
threat to the national security and foreign policy of the United States, the national emergency
declared in Executive Order 13303, as modified in scope and relied upon for additional steps
taken in Executive Orders 13315, 13350, 13364, and 13438, must continue in effect beyond
May 22, 2011.
Keep in mind that this ‘media note’ from the State Department is not a legal document. It is just an announcement that (imho) they have evaluated the legality of continuing the protection of the accounts (the new accounts), and the continuation can still continue in spite of the UN Resolution expiration because of the bolded reasons above.
It really has no effect on the RV, unless you want to consider that it relieves some pressure on them. And I don’t know whether that is a good thing or a bad thing. LOL
Bottom line is that it simply keeps their money from being attached by those who have pending or impending litigation against them. If you recall there were articles that came out recently in the news concerning the attorneys for Kuwaiti airlines who intended to attach those accounts once it expired today. I would not be too surprised to see them jumping up and down about this, btw.
This gives Iraq time and they aren’t under so much pressure just to give in to Kuwaiti Airlines’ demands because of the deadline of June 30th. However, their (Kuwaiti Airlines) attorneys might challenge this novel interpretation… but to do so would be to take on DOJ (remember the article concerning the “lawyers” they have ready for this? This is why– because they expect Kuwaiti Airlines and perhaps other litigants to possibly challenge the Continuation of the EO, when the justification for it– the UN Resolution regarding the DFI funds, is expired. DOJ would be the one to answer in defense of the Continuation).
