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New CBI Announcement January 23 2014


Butifldrm
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Not quite sure why the CBI would want this.   The Fed manipulates the price of Gold down when they see a rise in the price. They sure don't want people to have more faith in Real money than their paper notes.   Anyone remember the spot price on Gold when the CBI bought those large amounts a year or two ago?

 

Thanks Butifldrm

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Central Bank decides "SEC gold bullion" to sell investors and segments of society

23/1/2014

Long-Presse / Baghdad

Decided to CBI, on Thursday, "coined a variety of gold bullion" to sell gold to dealers, investors and segments of Iraqi society, as he emphasized that "this action represents Tools monetary policy of the Bank."

According to a statement to the CBI received (range Press) a copy of it, he was "for the purpose of diversification means savings to the public and to provide large quantities of gold from Mnashye sober sold to dealers in gold, investors and society Bdinaralaraca decided the bank's board in consultation with the Committee on Economic Affairs seeks a variety of gold bullion ranging weights between (5 g and 1000 g). "

The statement added that "the Bank began contracting procedures for gold bullion imported and then sold through the banking system," noting that "this action represents a monetary policy tools of the central bank."

In the view of economists that the entry to the World Gold Iraq is a positive case for the revitalization of the gold market deal in Iraq, especially as the gold market was not affected by the Iraqi gold to enter the United Arab Emirates and Turkey.

The Iraqi Central Bank revealed in (September 22, 2013) announced the arrival of its reserves of foreign currency and gold to about 80 billion dollars, while attributed to an increase in global oil prices, the reserve is expected to increase over the coming months.

The International Monetary Fund, it was announced, in (the 23 of March 2013), the financial assets preventive in the Development Fund for Iraq rose in 2012 to 18 billion dollars, and cash reserves of the central bank's hard currency to $ 70 billion, attributing the increase to the "revenue oil unexpected. "

Financial experts confirmed that Iraq's stockpiles of reserve funds have covered liquidity over the past years, calling for the government to adopt alternative ways to cover the deficit, including recourse to the application of the secondary market policies that have been agreed with the government.

 

http://www.almadapress.com/ar/news/24857/%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D9%8A%D9%82%D8%B1%D8%B1--%D8%B3%D9%83-%D8%B3%D8%A8%D8%A7%D8%A6%D9%83-%D8%B0%D9%87%D8%A8%D9%8A%D8%A9-

 

Note: the MoF did not give approval to the CBI yet to sell the "currency" bonds we've been awaiting. This may be another method for the CBI to pull in dinars?


http://dinarvets.com/forums/index.php?/topic/170595-central-bank-decides-sec-gold-bullion-to-sell-investors-and-segments-of-society/

 

Sorry Yota..missed your post on this prior to mine


So I'm reading elsewhere that supposedly, the CBI doesn't need approval from the MoF to use this as a tool to pull in IQD

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This method of pulling in Dinar makes sense to me.  Those with more cash may convert a fair persentage of it to gold.  Then an RV will not benefit them as much as if they had kept their Dinar, and the outstanding quantity of IQD goes down pre-RV.

 

Hopefully the corrupt GOI members and other officials will get greedy and buy a lot of gold so the CBI can RV without enriching the bastards so much!

 

Peace and Prosperity

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This method of pulling in Dinar makes sense to me.  Those with more cash may convert a fair persentage of it to gold.  Then an RV will not benefit them as much as if they had kept their Dinar, and the outstanding quantity of IQD goes down pre-RV.

 

Hopefully the corrupt GOI members and other officials will get greedy and buy a lot of gold so the CBI can RV without enriching the bastards so much!

 

Peace and Prosperity

 

 

Yea!  That's the ticket!   :)

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now  this article  really  ties  the  " post  we  saw  , about the e-mail  from the dinar buyer / seller ,  will trade  dinar for gold "   this  really might  move  a  lot of  higher  -- 000 `s  notes  off the  markets ,  if  a regular holder of dinar sells  for  gold,  but  I think  the  price of gold is still  to high  to off set  the amount of dinar for gold ---  as  in gold is still 1600  an ounce ,  and  for one ounce  of gold is a lot of dinar ,  { 1600 dollars  an ounce  ,  not  1600  dinars  an ounce !  so if I am correct  it will take  1 million  and  a half  to get an ounce of gold }  think  I will wait  till the value of dinar  is  closer to the dollar value 

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1gramgold.jpg 1 gram gold bar   $40.14 2gramgold.jpg 2.5 gram gold bar   $100.36 5gramgold.jpg 5 gram gold bar   $200.73 10gramgold.jpg 10 gram gold bar   $401.46 20gramgold.jpg 20 gram gold bar   $802.93 50gramgold.jpg 50 gram gold bar   $2007.33 100gramgold.jpg 100 gram gold bar   $4014.66 1-kg-gold.jpg 1 kilogram (kg) gold bar   $40146.63

 

one more...

Gold Price per Gram in US Dollar Gram US Dollar US Dollar Gram 1 Gram = 40.13 USD 1 USD= 0.02492 Gram 2 Gram = 80.27 USD 2 USD= 0.04983 Gram 5 Gram = 200.67 USD 5 USD= 0.12458 Gram 10 Gram = 401.34 USD 10 USD= 0.24917 Gram 20 Gram = 802.68 USD 20 USD= 0.49833 Gram 25 Gram = 1003.34 USD25 USD= 0.62292 Gram 50 Gram = 2006.69 USD 50 USD= 1.24583 Gram 100 Gram = 4013.38 USD 100 USD= 2.49167 Gram 1000 Gram = 40133.78 USD 1000 USD= 24.91667 Gram


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thanks  for  the break  down  yota ,  now   what  can  we  get  for  1  gram cracker  :lol:  ?    but  even  with  your  break  down  of  the gram of gold ,  to  re-sale  gold  back to dollar <------- is it still  the 1165  per dinar  after going through  all the  handling  and  paper work ?  

Edited by jeepguy
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thanks  for  the break  down  yota ,  now   what  can  we  get  for  1  gram cracker  :lol:  ?    but  even  with  your  break  down  of  the gram of gold ,  to  re-sale  gold  back to dollar <------- is it still  the 1165  per dinar  after going through  all the  handling  and  paper work ?  

From Butifldrm...Ok, the CBI during Shabibi's reign suggest the sale of Gold coins as a monetary tool.  So I went back and searched for articles which gave a better explanation of how the sale of Gold Bullion would help the CBI and the people.  The best article I have found so far was written by al-Alwani ( who was recently jailed and waiting trial under terrorism charges), and other economic experts.  This article gives a good explanation of how the sell  of Bullion will affect the economy.

 

Expert: sale of gold coins through the central bank will raise the value of the dinar .. Parliamentary Economic Commission is seeking to activate the ATM project 

 

« on: September 05, 2012, 06:12:27 AM »
BAGHDAD / Conference
The head of the parliamentary Economic Committee Ahmed al-Alwani, said that his committee will address the relevant authorities in order to activate the project ATM in the country. Alwani said (of the Agency news) on Tuesday: that this project, which was scheduled to work it for years in order to facilitate the receipt of financial benefits to the citizen stopped for several reasons related to the reality of Iraq. He stated: The Committee plans to address those responsible for the activation of its work to achieve the aspirations of the banking sector in the construction of a sophisticated, surprising of «the absence of support previously experience». He said al-Alwani: that this experience worthwhile and support was supposed to keep up with developments experienced by the world, calling to benefit from the experiences of other countries in this aspect ». 

The ATM atm is one of the basics of modernism in the banking sector, and was scheduled to be circulated in Iraq since 2008. 

On the other hand stressed the economic expert Akram Abdel Aziz, to ask the Central Bank of the idea of ​​selling gold coins in the banks on the citizens will contribute to raise the value of the Iraqi dinar against the U.S. dollar. Said Abdul Aziz (of the Agency news) on Tuesday: The sale of gold coins by the Central Bank The Iraqi banks will contribute to raising the value of the Iraqi dinar against the U.S. dollar by pulling the dinar from citizens who are buying gold and lack of display of the dinar in the Iraqi market contributes to increase the demand for the dinar and tight supply. added: Iraq, according to statistics the central bank has the ratio of up to ( 30) trillion Iraqi dinars block cash surplus led to oversupply and lack of demand and the devaluation of the Iraqi dinar against the U.S. dollar, indicating that the index liquidity monetary mass in Iraqi banks exceeded (51%) did not find their way to employ what I paid pressing toward raising the prices of goods and create a state of inflation Iraqi economic market. explained: The sale of gold coins will help to absorb inflation and the depreciation of the exchange rate of the U.S. dollar against the Iraqi dinar and reduces pressure on the price of goods in the Iraqi market. 

On the other hand, affirmed the decision of the Economic Commission MP / coalition of Kurdish blocs / Mahma Khalil, that all customs agreements concluded with Iran or the other will not work in Iraq because of the enactment of the tariff in the country, noting such agreements do not serve the national economy, but just doors propaganda more than be a professional. Iraq had signed a memorandum of understanding customs joint venture with Iran in the Conference of the Non-Aligned Movement held in Tehran with the participation of Iraq. Khalil said (of the Agency news) on Tuesday: that the federal government refuses to work tariff, which was enacted in Council Deputies year (2010), stressing there is a desire and seriousness by the Iraqi government not to deal law tariff new and stay to work on the old law in place since (1955)., and added that the memorandum of understanding customs agreement with the Iranian side will not serve the national economy as long as the Tariff Act Customs new has not been implemented so far, stressing can not be the continuation of old laws because every period of time different from that preceded every circumstance needs to appropriate laws to him. pointed out: that the national economy today differed greatly from what it was in the past or since the introduction of the Tariff Act Year (1955), pointing out that trade with either Iran or Turkey or Jordan increased significantly from the previous requires the application of the Tariff Act for the protection of the local product, Flaimkn a country like Iraq has the second largest economy in the region are no where legally tariff.

Read more: http://dinarvets.com/forums/index.php?/topic/170595-central-bank-decides-sec-gold-bullion-to-sell-investors-and-segments-of-society/#ixzz2rJOr5SJj

Edited by yota691
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Central Bank decides "SEC gold bullion" to be sold on the segments of society

images-122.jpg

BAGHDAD - Iraq Press -24 January: CBI decided, "coined a variety of gold bullion" to sell gold to dealers and investors segments of Iraqi society, as he emphasized that "this action represents one of the tools of monetary policy to the Bank."

According to a statement to the CBI received / Iraq Press /, on Friday, a copy of it, he was "for the purpose of diversification means savings to the public and to provide large quantities of gold from Mnashye sober sold to dealers in gold, investors and society Bdinaralaraca, decided the bank's board in consultation with the Committee on Economic Affairs SEC selections of gold bullion weights ranging between (5 g and 1000 g). "

 The statement added that "the Bank began contracting procedures for gold bullion imported and then sold through the banking system," noting that "this action represents a monetary policy tools of the central bank."                                              

In the view of economists that the entry to the World Gold Iraq is a positive case for the revitalization of the gold market deal in Iraq, especially as the gold market was not affected by the Iraqi gold to enter the United Arab Emirates and Turkey.

 The Iraqi Central Bank revealed in (September 22, 2013) announced the arrival of its reserves of foreign currency and gold to about 80 billion dollars, while attributed to an increase in global oil prices, the reserve is expected to increase over the coming months.

The International Monetary Fund, it was announced, in (the 23 of March 2013), the financial assets preventive in the Development Fund for Iraq rose in 2012 to 18 billion dollars, and cash reserves of the central bank's hard currency to $ 70 billion, attributing the increase to the "revenue oil unexpected. "

Financial experts confirmed that Iraq's stockpiles of reserve funds have covered liquidity over the past years, calling for the government to adopt alternative ways to cover the deficit, including recourse to the application of the secondary market policies that have been agreed with the government. Q ended


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I really like this statement yota.  :)  Teh secondary 

 

Financial experts confirmed that Iraq's stockpiles of reserve funds have covered liquidity over the past years, calling for the government to adopt alternative ways to cover the deficit, including recourse to the application of the secondary market policies that have been agreed with the government. Q ended

 

 

 

Definition of a secondary market

The secondary market, also called aftermarket, is the financial market in which previously issued financial instruments such as stockbondsoptions, and futures are bought and sold.[1] Another frequent usage of "secondary market" is to refer to loans which are sold by a mortgage bank to investors such as Fannie Mae and Freddie Mac.

The term "secondary market" is also used to refer to the market for any used goods or assets, or an alternative use for an existing product or asset where the customer base is the second market (for example, corn has been traditionally used primarily for food production and feedstock, but a "second" or "third" market has developed for use in ethanol production).

With primary issuances of securities or financial instruments, or the primary market, investors purchase these securities directly from issuers such as corporations issuing shares in an IPO or private placement, or directly from the federal government in the case of treasuries. After the initial issuance, investors can purchase from other investors in the secondary market.

The secondary market for a variety of assets can vary from loans to stocks, from fragmented to centralized, and from illiquid to very liquid. The major stock exchanges are the most visible example of liquid secondary markets - in this case, for stocks of publicly traded companies. Exchanges such as the New York Stock ExchangeLondon Stock Exchange and Nasdaq provide a centralized, liquid secondary market for the investors who own stocks that trade on those exchanges. Most bonds and structured products trade “over the counter,” or by phoning the bond desk of one’s broker-dealer. Loans sometimes trade online using a Loan Exchange.

http://en.wikipedia.org/wiki/Secondary_market

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add this...Central Bank plans to sell gold different weights for those wishing to purchase it from citizens

 

 

Editor Safaa Abdel Hamid - Thursday January 23, 2014

   

 
NB-91325-635260873439386887.jpg
 
 
 

         
 
 
Alsumaria News / Baghdad Central Bank announced on Thursday its intention to sell gold different weights for those wishing to purchase it from the citizens, pointing out that he began procedures contracted to import them and then sell them through the banking system. statement said the bank had received "Sumerian Enoz", a copy of it, he was " Governing Council decided in consultation with the Committee on Economic Affairs seeks a variety of alloys of pure gold weights ranging between (50 g and 1000 g) to sell to traders in gold, investors and segments of society, wishing the Iraqi dinar. " the bank said, "The bank's decision comes for the purpose of diversification means savings for the public, and the provision of amounts of gold from the origins of sober, "stressing that" the Bank began proceedings contracted to import them and then sell them through the banking system and that this procedure represents a monetary policy tools. " and the International Monetary Fund announced in December 2012 that Iraq has boosted its gold reserves to reach more of 31 tons, after that bought 23.9 tons of gold. was established Iraqi Central Bank as a bank independent under the law issued on the sixth of March 2004, as an independent body, which is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies and being sessions daily for buying and selling currenciessugr ended
 

http://dinarvets.com/forums/index.php?/topic/170595-central-bank-decides-sec-gold-bullion-to-sell-investors-and-segments-of-society/

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o kay   with this last post from  the  jedi  dude   yota ,  I think this is where the   change in  dinar  might be  ,, if you purchase  amounts of  gold with dinar ,  and go shopping , then  you hand them  large amounts  of  gold , the smaller  would be the change -----  20  and 50   amounts  in value I would  guess !    this would  be only  one  way I could  think of for the value of dinar  to move in our  direction  we  need !   thanks  for all the  information   yota  butrifldrm

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I read this it says that the CBI wants to IMPORT the gold bullion to SELL to Iraqis.... I have not found any evidence that Iraq has gold mines or has discovered any gold ore of economic quality.

Hey rock,  I know it's crap cause I don't have a link, but there have been many articles that talk about Iraq having vast amounts of unmined gold. I would look but the baby just woke up. Bye

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I read this it says that the CBI wants to IMPORT the gold bullion to SELL to Iraqis.... I have not found any evidence that Iraq has gold mines or has discovered any gold ore of economic quality.

This should help...

http://dinarvets.com/forums/index.php?/topic/105754-iraq-gold-rush-as-fog-of-war-lifts/

http://dinarvets.com/forums/index.php?/topic/154409-economist-central-bank-retain-large-quantities-of-gold-will-support-the-iraqi-economy/

http://dinarvets.com/forums/index.php?/topic/126279-iraqs-mineral-wealth/

 

There are more from where this came from...

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one more...CBI decides coined gold bullion

Source: 

  • BAGHDAD - Iraq Ahmad
Date: January 25, 2014

Decided to CBI, "coined a variety of gold bullion" to sell gold to dealers, investors and segments of Iraqi society, pointing out that "this action represents a monetary policy tools of the bank."

The statement said the central bank was "for the purpose of diversification means savings to the public and to provide large quantities of gold from the origins of sober sold to dealers in gold, investors and segments of society in Iraqi dinars, decided the bank's board, in consultation with the Committee on Economic Affairs, SEC assortment of gold bullion ranging weights between (5 g and 1000 g ). "

The statement added that "the Bank began contracting procedures for gold bullion imported and then sold through the banking system," noting that "this action represents one of the instruments of monetary policy of the central bank." In the view of economists that the entry to the World Gold Iraq is a positive case for the revitalization of the gold market deal in Iraq.

The CBI, revealed in (September 22, 2013) announced the arrival of its reserves of foreign currency and gold to about 80 billion dollars, while attributed to an increase in global oil prices, is expected to increase the reserve in the coming months.

Financial experts confirmed that Iraq's stockpiles of reserve funds have covered liquidity over the past years, calling for the government to adopt alternative ways to cover the deficit, including recourse to the application of the secondary market policies that have been agreed with the government. sugr ended


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