Correction about Executive Order 13303
May 11, 2011
Correction: Many bloggers have mistakenly written that the Presidential Executive Order 13303 is the one authorizing foreign currency sales, including that of the Iraqi dinar. Vinnie emailed me to let me know that it is actually "Order 39." Here is what one link says about it: "I discussed with GTA about PO 13303 expiring this month. We all thought that the PO was the Foreign Investment Law that gave us the rights as US Citizens to invest in Currency, Stocks, Bonds and Real Estate. It does not. PO 13303 has nothing to do with Foreign Investment. It has only to do with the Oil Fund that Iraq has 32 Billion USD in it. This law protects any Country, Business or individual from enforcing any Lien, Garnishment or Lawsuit against Iraq and taking the damages awarded from Iraqs Oil Fund. It does expire this month. President Obama has stated through his offices staff that he is not in favor of renewing it. His reason is that Iraq has been given 6 years to settle these issues and has not made any good faith effort to do so. He said that Iraq is hiding behind the protection of his office. That is some movement by Iraq to settle at least some of these are not done. Then he will leave it unprotected. "Now the order/law that does grant Foreign Investment is Coalition Provisional Authority Order 39. It grants us those rights and is not expiring."