Iraq pays 360 Mln Dollars of its debt to Bulgaria - in cash!

Is this where your tax dollars are going?
Is this why the world is currently seeing a massive increase in oil prices?
Is this the method of making Iraq the middle east's central power for banking and oil?
Is this yet another reason why America went to war in Iraq?

This enormous cash payment by Iraq could only have been made possible if it was earning very large amounts of money RIGHT NOW!

Just what is going on behind the closed doors of a war torn country?
With over a million civilians dead, and an active war in progress, how has Iraq managed to make enough cash to be able to pay this debt to Bulgaria like this?

How many other countries has Iraq made payments to?
Where has all this money come from?

Why does the USA government have to constantly beg for billions of dollars to support the on going war when Iraq seems almost perfectly capable of footing the bill itself, seeing as it can make cash payments like this.

Once Iraq is clear of all it's debts to other countries, the only country it will forever be in debt to will be the USA and you can bet your bottom dollar that the USA, banks and oil companies will want that relationship to last as long as the oil lasts.

Meanwhile, not only will Iraq be a major American military base, but it will also be the financial hub for the area. The eventual possible wealth in Iraq will bring it to the same level as the US dollar once was or on a par with Saudi Arabia.

Is this the real reason the US dollar is collapsing? Is the dollar being sent abroad to save Iraq and turn it into a monopoly to corner the entire middle east?

02 July 2008

A payment of 360 million US dollars of Iraq's debt to the Bulgarian State was finalized on July 2nd.Bulgaria is the first country which has reached agreement on a lump-sum cash settlement of its receivables from Iraq.

"I am satisfied with the Iraqi side strictly honouring its commitments assumed in the bilateral debt agreement. Let me recall that Bulgaria achieved the relatively best parameters in settling the outstanding debt problem. I am grateful to our partners of the Iraqi Finance Ministry, as well as for the fruitful consultations with the US Treasury Department," Bulgarian Finance Minister Plamen Oresharski said after the Transaction.

Approximately one-third of the proceeds represent principal repayments, and two-thirds are due and overdue interest payments. Arrangements are being made for a visit by the Iraqi Finance Minister to Sofia at Bulgaria's invitation. "Other mutually advantageous areas of bilateral cooperation will be discussed during that visit," Oresharski added.

www.government.bg...

I'll leave it for you to decide...


Edit to add;

Baghdad owes at least $67bn to Saudi Arabia, Kuwait, the United Arab Emirates and Qatar.

In addition to the $67bn in foreign debt, most of it incurred during the rule of Saddam Hussein, Iraq's executed president, the Geneva-based UN Compensation Commission says $28bn remains to be paid in compensation for Iraq's 1990 invasion of Kuwait.

Iraq currently gives five per cent of its oil revenue to meet the compensation claims.

The Iraqi government maintains it should not be obligated to repay debts incurred by Saddam's government, which denied basic rights to its citizens, including say over government policy.

Al-Maliki had addressed nearly 100 international delegations.

He said: "We call on our brothers, friends and partners ... to commit to supporting Iraq's sovereignty and banning interference in its internal affairs and to end the international sanctions that were imposed on Iraq because of the previous regime and to write off debts."

At that meeting, officials from 50 countries promised to cancel $32bn of Iraq's foreign debt.

star.aanf.org...

If this sort of sum can be a canceled debt for Iraq, then why not for even poorer nations around the world?
Why not wipe the slate clean and give everyone a chance.. or is it because their's no oil in these other debt laden countries, or perhaps no war that the west is involved in that will return a profit.

[edit on 6-7-2008 by Extralien]

[edit on 6-7-2008 by Extralien]

[edit on 6-7-2008 by Extralien]

As I sit here overwhelmed by the implications of your post, I can't help but wonder, "How did Bulgaria get to the top of the list?" Thank you for the post OP, flag and star for you. Fine analysis of some of the potential implications as well. My brain has frozen trying to absorb the seemingly endless remaining possible implications. I gotta go chew on this a while...

Yes, this is something that took me a while to digest too.

I'm still asking myself how was this money was made so fast.

Saudi Arabia anounced they would increase the amount of oil to be released per day, but the world seems to want them to release even more to lower the price of oil.

Apart from the odd truckers strikes here and there, do we know of any country that is desperately short of oil?

Is their a secret deal between the USA and Saudi Arabia where the majority of the worlds oil is currently coming out of Iraq.

In reality, you'd expect this money to go back into Iraq first, to rebuild the country so that the government and people of Iraq are able to start producing a 'wage'. Yet the entire region stays unbalanced with the exception of being able to make all this cash.

This is absolutely shocking! Great find - * and flag. I am really wondering where they got all that cash!

As for wiping the slate clean for everyone...well as long as everyone really is everyone and not just everyone among a certain few then I'm all for it. Debt is such a funny thing anyway, especially with most of it not being real money anyway in more ways than one.

You've definitely given us a lot to think about.

I think that the reality is that the government spends money cause it's not hurting them. Just like everything else in life. It's easy to spend others money. It's easy to ignore poverty and the horrors of life if it is not effecting you personally.

Where do you think they got the money? From you and me, and what we don't supply they print up.

Unforutnately that is the truth...