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CBI INCREASED GOLD RESERVES TO SUPPORT CURRENCY.

kennyc
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kennyc Newbie

kennyc

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Economist: CBI increased gold reserves to support currency (IQD)Posted: December 24, 2012 in Iraqi Dinar/Politics

Tags: Iraq, Currency, iraqi, Baghdad, Iraqi dinar, reuters, International Monetary Fund, Central Bank Iraq 22/12/2012 12:34:00

BAGHDAD / Nina / attributed the economic expert in the Ministry of Finance Hilal Taan reasons the Central Bank of Iraq to redouble buy gold to enhance the cover of the local currency.

He said in a statement to the National Iraqi News / Nina / Today “It is necessary that the bank buys large quantities of gold to support the balance of the Iraqi currency, which consists of gold bullion and major foreign currencies كالدولار and the euro and the pound sterling.”

“The central bank could sell a section of gold coins to the public as selling dollars at an auction on,” pointing out that “bank purchases of gold are, in most cases, to promote and strengthen the cover of the Iraqi dinar in foreign currency.”

The monthly report of the International Monetary Fund statistics Ozarmajara that during the three months between August and October this year doubled Iraq balances of gold to four-fold to $ 31.07 tonnes, according to the Reuters news agency.

In the first change in the reserves for years Iraq has bought about 23.9 tons in August, bringing the total to 29.7 tons and the ensuing increase of 2.3 tons in September, bringing the total to 32.09 tons and stocks fell 1.02 tonnes in October to 31.07 tons. No information was available for the month of November.

The Central Bank of Iraq announced the fifteenth of the month last August his intention to sell gold coins and valuable things soon to the public, in addition to selling the dollar at auction.

The move was previously in force in the eighties of the last century, but the circumstances of the siege in the nineties made citizens are focused on buying the dollar to ease discharged in markets

Personally, I think they are about to increase their value. Not a GURU or currency man, but

this looks GOOD to me B)

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yota691 Grand Master

yota691

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This IS A BOGUS report ! The CBI cannot add any gold without the consent of the MOF..If it bought gold it would go into MOF (Treasury) and not be property of CBI.

So CBI reserves are NOT increased.

How many more article you want?

Expert: monetary gold purse SAFE of the country and will protect Iraqi funds from loss

Posted on December 24th, 2012

By: kald

Previous

BAGHDAD (Iba) .. Chief Economist Majid picture, that strengthen Iraq to step up gold has a direct connection to strengthen the country's currency, which is considered a cash security portfolio of loss.

Suri said in a statement to Agence independent press (Iba) .. Monday, "The oldest of Iraq to strengthen up the gold for the first time is a positive step towards strengthening the country's cash portfolio, stressing: that owning any without large stocks of gold are in control of the state and security of the cash portfolio on their loss."

He added: the coins is safe and volatility continuing what you pay all States to take a way a safe haven for its currency from the loss, stressing: that gold the best way to keep the money the country from loss as a result of fluctuating currency resulting from the lack of political and economic stability.

He continued economic expert: that fluctuating dollar and the euro crisis pay all States to resort to strengthen its reserves of gold to check on their money from loss, noting: that gold is the basis for the evaluation of all foreign currency straw including the state budget and on the basis of advanced البل economically, and take Iraq a step promote backup Gold is considered a positive step and will be sorted Iraq's money. (end)

http://ipairaq.com/?p=69215

Read more:

and another IMF: Iraq strengthens gold reserves for the first time in

years

Read more:

And another Iraq boosts gold reserves for the first time in years

#1 boomer113189

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Posts:78

Joined:15-August 12

Posted 21 December 2012 - 04:03 AM

12 - 21 - 2012

Twilight news/Iraq has taken the first major step in years to strengthen its reserves of gold in the past few months to join other central banks from emerging market economies such as Brazil and Russia to diversify foreign reserves.

Read more:

you want some more cause I can get em!! :angry: Thanks Kenny +1

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Tubbs Rookie

Tubbs

Posted
Posted

This IS A BOGUS report ! The CBI cannot add any gold without the consent of the MOF..If it bought gold it would go into MOF (Treasury) and not be property of CBI.

So CBI reserves are NOT increased.

Dude don't bogart that doobie :wacko:

So bogus, your ruining my buzzzzz

Hey man did it RV yet :unsure:

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snooz Newbie

snooz

Posted
Posted
Personally, I think they are about to increase their value. Not a GURU or currency man, but

this looks GOOD to me

Your not a Guru...?? What can I call you then ????

OK, lets take the word GURU and slap the U's out and replace them for an O and a V

GORV.....

Go RV :D :D :D

TNX

SnooZ

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MyLadiesDaddy Grand Master

MyLadiesDaddy

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Posted

How many more article you want?

Expert: monetary gold purse SAFE of the country and will protect Iraqi funds from loss

Posted on December 24th, 2012

By: kald

Previous

BAGHDAD (Iba) .. Chief Economist Majid picture, that strengthen Iraq to step up gold has a direct connection to strengthen the country's currency, which is considered a cash security portfolio of loss.

Suri said in a statement to Agence independent press (Iba) .. Monday, "The oldest of Iraq to strengthen up the gold for the first time is a positive step towards strengthening the country's cash portfolio, stressing: that owning any without large stocks of gold are in control of the state and security of the cash portfolio on their loss."

He added: the coins is safe and volatility continuing what you pay all States to take a way a safe haven for its currency from the loss, stressing: that gold the best way to keep the money the country from loss as a result of fluctuating currency resulting from the lack of political and economic stability.

He continued economic expert: that fluctuating dollar and the euro crisis pay all States to resort to strengthen its reserves of gold to check on their money from loss, noting: that gold is the basis for the evaluation of all foreign currency straw including the state budget and on the basis of advanced البل economically, and take Iraq a step promote backup Gold is considered a positive step and will be sorted Iraq's money. (end)

http://ipairaq.com/?p=69215

Read more:

and another IMF: Iraq strengthens gold reserves for the first time in

years

Read more:

And another Iraq boosts gold reserves for the first time in years

#1 boomer113189

Advanced Member

Group:Members

Posts:78

Joined:15-August 12

Posted 21 December 2012 - 04:03 AM

12 - 21 - 2012

Twilight news/Iraq has taken the first major step in years to strengthen its reserves of gold in the past few months to join other central banks from emerging market economies such as Brazil and Russia to diversify foreign reserves.

Read more:

you want some more cause I can get em!! :angry:/> Thanks Kenny +1

Plus 1000 to ya my jedi master. This is nearly over. :backflip::bravo::tiphat::hug::bow:

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kennyc Newbie

kennyc

Posted
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Posted

How many more article you want?

Expert: monetary gold purse SAFE of the country and will protect Iraqi funds from loss

Posted on December 24th, 2012

By: kald

Previous

BAGHDAD (Iba) .. Chief Economist Majid picture, that strengthen Iraq to step up gold has a direct connection to strengthen the country's currency, which is considered a cash security portfolio of loss.

Suri said in a statement to Agence independent press (Iba) .. Monday, "The oldest of Iraq to strengthen up the gold for the first time is a positive step towards strengthening the country's cash portfolio, stressing: that owning any without large stocks of gold are in control of the state and security of the cash portfolio on their loss."

He added: the coins is safe and volatility continuing what you pay all States to take a way a safe haven for its currency from the loss, stressing: that gold the best way to keep the money the country from loss as a result of fluctuating currency resulting from the lack of political and economic stability.

He continued economic expert: that fluctuating dollar and the euro crisis pay all States to resort to strengthen its reserves of gold to check on their money from loss, noting: that gold is the basis for the evaluation of all foreign currency straw including the state budget and on the basis of advanced البل economically, and take Iraq a step promote backup Gold is considered a positive step and will be sorted Iraq's money. (end)

http://ipairaq.com/?p=69215

Read more:

and another IMF: Iraq strengthens gold reserves for the first time in

years

Read more:

And another Iraq boosts gold reserves for the first time in years

#1 boomer113189

Advanced Member

Group:Members

Posts:78

Joined:15-August 12

Posted 21 December 2012 - 04:03 AM

12 - 21 - 2012

Twilight news/Iraq has taken the first major step in years to strengthen its reserves of gold in the past few months to join other central banks from emerging market economies such as Brazil and Russia to diversify foreign reserves.

Read more:

you want some more cause I can get em!! :angry:/> Thanks Kenny +1

Thanks Yota for havin my back. B)

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SWFloridaGuy Newbie

SWFloridaGuy

Posted
Posted (edited)

Great post Yota!! I wish I wasn't limited in the amount of pluses I could give you.

We know that there have been some major discoveries in Iraq when it comes to gold. Early in 2012 there was a large discovery of Gold in eastern Baghdad. The last couple years have produced large quantities of gold atoms in the soil through their vast drilling operations.

They actually raised thousands of tons of dust, which was set aside for the purification and extraction process. This discovery, among others, could turn Iraq into a producer of gold more than oil. It will also increase the prices of real estate due to the influx of gold job seekers.

Edited by SWFloridaGuy
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Brisco Apprentice

Brisco

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Posted

The move was previously in force in the eighties

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Interesting to note that in the 80s the value of the dinar was like, what? $3.22.

I think you are spot on kennyc, this is about over. :bravo:/>

Exactly there is quite a history to their values. http://www.edinarfinancial.net/history.php

Something goog this way comes.

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