CBI INCREASED GOLD RESERVES TO SUPPORT CURRENCY.

[yota691]

hopefully lesson learned...do not piss of the yota

I'm not piss, just bring something to the table..Instead of the same old negativity!! Oh and here one more for ya rock!! Economist: strengthen Iraq's reserves of gold is a good step to support the national currency

Date: 12/26/2012 11:39:18 Wednesday

Baghdad (news) .. Expert considered economic Jalil al-Rubaie, making the central bank to strengthen the reserves of gold in addition to the dollar, "a positive step" toward supporting the value of the national currency.

Rubaie said (of the Agency news): Most countries in the world started custody of the dollar because its price wobbling a result of the crises of the global economic , Valtjot to store gold because it is a safe haven for national currencies to keep them from getting lost. added: that a central bank to strengthen its reserve of gold and to reduce reliance on the dollar is a positive step and will support the national economy and the Iraqi dinar. mentioned that reports issued by international organizations indicated that Iraq resorted to store gold to enhance its gold reserves and reduce the monetary reserves of the dollar in order to preserve its assets and the stability of the exchange rate of the Iraqi dinar. / end / 8. n. p /

http://www.ikhnews.com/news.php?action=view&id=68791 anytime Kenny

lol, the haters start coming out from under the rocks. the tone in their posts on this thread is not one of learning or teaching, but one of desperation. I hope they own dinar!

They cant stand it!!

[doctor robbins]

I really can't see why people are getting so excited about this. It's just an article reporting that Iraq will increase the amount of gold they hold in their foreign currency reserves. How is that different from them saying they will increase the amount of dollars or euros they hold?

[truthful1]

The move was previously in force in the eighties

Read more:

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:/>/>/>

Many central banks have increased their gold holdings in the last year. standard operating procedure.

Once again....many central banks increased their gold holdings. whats the news here?

the world sees a u.s. dollar with problems. unable to cut the spending, nothing to stop the unevitable fiscal cliff.......and we are surprised central banks are picking up gold?

Edited December 26, 2012 by truthful1

[rightsonword]

Many central banks have increased their gold holdings in the last year. standard operating procedure.

Once again....many central banks increased their gold holdings. whats the news here?

News is that increasing gold reserves stablizes and puts faith into a nations currency. Could mean RV, could mean nothing, or aliens coming down, but to claim it means nothing and does nothing for the currency is ludicrous.

[truthful1]

News is that increasing gold reserves stablizes and puts faith into a nations currency. Could mean RV, could mean nothing, or aliens coming down, but to claim it means nothing and does nothing for the currency is ludicrous.

Obviously, theres a function of stability being applied. but this is what central banks do all the time. I guess some are learning for the first time....

Edited December 26, 2012 by truthful1

[rightsonword]

Obviously, theres a function of stability being applied. but this is what central banks do all the time. I guess some are learning for the first time....

That's the point of the article and it is good and beneficial in adding faith to a nations currency should they raise the value in any amount, decide to borrow, etc. So, thanks for agreeing with me. The fact that central banks do this is not the issue. I don't know how to be more clear or why you keep bringing that up . . .

Edited December 26, 2012 by rightsonword

[SPOTLIGHT]

3.22+.I am very confused here can someone answer a few of my questions?Why does some investorz think it will be at 3.22. and our debt is thru the roof.One would think are we going thru a devaluation meaning the good ol' dollar?Thirdly with debt being unconsciously high why would it come out at that rate when our dollar is worth crap. I don't understand!!! GO RV

[truthful1]

3.22+.I am very confused here can someone answer a few of my questions?Why does some investorz think it will be at 3.22. and our debt is thru the roof.One would think are we going thru a devaluation meaning the good ol' dollar?Thirdly with debt being unconsciously high why would it come out at that rate when our dollar is worth crap. I don't understand!!! GO RV :o/>/>

Good questions. increasing the rate is a liability/cost on the balance sheet. Countries cannot rv into prosperity, or create wealth.they actually create a liability. some use the oil credit theory to justify the expense, however its imaginary. At 3.22, thats over 200 trillion that has to be covered. all the gold and oil in iraq, could never cover that cost. not to mention they wouldnt have any oil to sell ever again. some people talk rates like it can be whatever or anything they choose.

Edited December 26, 2012 by truthful1

[ilovesushi]

Good questions. increasing the rate is a liability/cost on the balance sheet. Countries cannot rv into prosperity, or create wealth.they actually create a liability. some use the oil credit theory to justify the expense, however its imaginary. At 3.22, thats over 200 trillion that has to be covered. all the gold and oil in iraq, could never cover that cost. not to mention they wouldnt have any oil to sell ever again. some people talk rates like it can be whatever or anything they choose.

I'm beginning to think all financial systems are imaginary. All you do is print more money, right!

[gymrat76541]

As I understand history, The United States of America at one time stored enough gold on hand or on account for every dollar that was printed.

America does NOT do that anymore & America has NOT had a balanced budget very often in it's recent history!

Therefore, the dollar is not backed by the amount of gold we own. We print more money than we have accounted for gold!

Why can not Iraq do the same?????????????????????

Some say that because much of their projected wealth is in the ground - they can not raise the price of their money against other countries currency.

B. S.

Because America has and has demonstrated that we can not pay our bills on time and owe so much money to other countries, I see Iraq as a much stronger currency than America!

Guess it all boils down to what the world bank views them as, weak or strong! Just my opinion.

[ilovesushi]

Gymrat- That makes sense and with our 16 trillion debt, there is no way to pay that off, unless of course the RV and/or "global financial reset".

[yota691]

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

Published in: 10:30 am, December 24, 2012 by jamal Views: 104

Share on print Share on facebook Share on twitter Share on email More Sharing Services

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

[truthful1]

As I understand history, The United States of America at one time stored enough gold on hand or on account for every dollar that was printed.

America does NOT do that anymore & America has NOT had a balanced budget very often in it's recent history!

Therefore, the dollar is not backed by the amount of gold we own. We print more money than we have accounted for gold!

Why can not Iraq do the same?????????????????????

Some say that because much of their projected wealth is in the ground - they can not raise the price of their money against other countries currency.

B. S.

Because America has and has demonstrated that we can not pay our bills on time and owe so much money to other countries, I see Iraq as a much stronger currency than America!

Guess it all boils down to what the world bank views them as, weak or strong! Just my opinion.

yes and look at our fiscal cliff meltdown.we are not the ideal country to follow as far as monetary policy. America is at the brink of collqpse. why would any country want to follow that model?

[sandyf]

The move was previously in force in the eighties

Read more:

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:/>

This statement is effectively speculative. The Iraq Dinar has never been an Article 8 currency, so according to the gurus it has never been tradeable and therefore can never have had an international value.

The question is, who says it has to be Article 8 in order to change value, Myanmar had a massive change in April and they are Article 14.

[RVPleaseToday]

None of it matters. The dinar we hold was never at $3 plus. It has always been worth only fractions of a cent. We simply can't look to the past to establish a future value for the Dinar.

[caz1104]

yes and look at our fiscal cliff meltdown.we are not the ideal country to follow as far as monetary policy. America is at the brink of collqpse. why would any country want to follow that model?

"why would any country want to follow that model"

IMO its all about the here and now...........................and the almighty GREED. I think we give some way to much credit when it comes to doing the right/responsible thing for country and its people. GREED is pretty much universal. Once one accepts this, they begin to understands anything is possible. History or no history-peace

None of it matters. The dinar we hold was never at $3 plus. It has always been worth only fractions of a cent. We simply can't look to the past to establish a future value for the Dinar.

I agree