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


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

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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. SUGR S ended

Edited by yota691
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just  from  a view  of  the  side  photo ---- those  coins  near  the top ------  look almost like  the u.s. dollar  gold  coins  minted  a few years ago and  passed out  ,      now  if  they will  just adjust  those  other coins   and the dinar  to be equal  to the  dollar 

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just  from  a view  of  the  side  photo ---- those  coins  near  the top ------  look almost like  the u.s. dollar  gold  coins  minted  a few years ago and  passed out  ,      now  if  they will  just adjust  those  other coins   and the dinar  to be equal  to the  dollar 

gimme a dollar and I am GONE !!

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The Fed sells and lends gold to Bullion banks. The gold never leaves the vaults if in fact its there. Phantom gold. Its shown twice on their balance sheets. ( criminal ? )

These bullion banks then use fractional banking  (  fractional deposit lending ) where only a fraction of bank deposits are backed by actual cash-on-hand ( paper gold on hand ).

up to nine parties can own the same piece of gold ( on paper ) which may or may not exist at the Fed  LOL. . Morgan Stanley  lost  a class action filed because they were charging STORAGE fees for phantom paper gold that really does not exist.

 

I'm guessing that this is the CBIs plan also to try and expand the economy by freeing up capital that can be loaned out to other parties.

 

The moral to this story is to have undocumented physical gold on hand. Paper gold is not money.

 

Thanks again Yota.

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