Central Bank buys 36 tons of high-purity gold bullion

[stealthwarrior]

Why would they buy gold when we have all these posts that Iraq has rivers of gold?It makes not believe anything that's posted about Iraq.

[jeepguy]

that  is  really  a  lot  of  gold  to have hanging  around !   this  could  push  the value of  dinar  back into the area  we  need it in  .. any thing  above  .o5  would  be  a great  movement ......  but  even better  push this  up too the 1 too 1 value  llike  they keep talking about   

[Acepup]

I don't if my math is right and someone can maybe help me with this

1 ton = 29,166 troy ounces X 1309.00 (per ounce) = 38,178,294 per ton

38,178,294 X 36 tons = 1,374,418,584

 

The Dude Abides...

[dontlop]

Ya got to remember this post from yota when ya read this thread

35 trillion dinars, the volume of cash in circulation

2/2/2014 0:00

Selling gold to the citizens aims to be towed

Baghdad - Mostafa Hashemi

longer sell gold bullion to the public of important issues in maintaining the stability of prices and the withdrawal of liquidity from foreign currency amounting to - according to an official - 35 trillion dinars and converted into the origins of the precious metal as a measure to curb inflation in Iraq .

was the central bank has decided recently coined a variety of alloys pure gold weights ranging between (5 g and 1 kg)., declaring direct actions contracted to import and then sell them through the banking system. sees director of banks in the Ministry of Finance, Dr. Hilal Taan that The Central Bank this measure comes to control the levels of inflation and the reduction of high prices.

added Taan told (morning) that the sale of gold from the central bank to citizens represents a process of withdrawing liquidity from trading where the liquidity in the market about 35 trillion dinars, and this large number Central Bank seeks to downgrade following the procedures of monetary policy.

confirmed its part, economic researcher Suhad Athari, said the central bank announced the sale of gold to the citizens as well as Treasury Notes and the dollar would ease the liquidity as well as he promotes price stability. She told the (morning) that this measure would diversify the means savings for citizens and raise the purchasing power of the currency is likely to witness the price of gold marked decline his request in the market.

drew virgins that this would also reduce the rate of inflation of the currency where it can be reduced from by absorbing liquidity from the dollar in both the banks and the citizen, and turn it into a precious metal, because it is more stable in the prices of the dollar, which is subject to the repercussions of the economic situation between the United States and China and other countries, as well as the difficulty of transporting gold and turn it out of the country Mijolh keeps prices rates safe.

virgins and concluded her speech by saying that the central bank through its monetary policy aims to achieve high growth rates and a stable exchange rate and move the process through the distribution of credit loans to the most vital sectors thus leading to economic development. SUS ended

Edited by yota691, 02 February 2014 - 04:25 AM.

Read more: http://dinarvets.com/forums/index.php?/topic/171388-35-trillion-dinars-the-volume-of-cash-in-circulation/#ixzz2wvCnpT00

The Iraqi Central Bank has decided,on (January 23rd, 2014), “SEC assortment of gold bullion” to sell gold to dealers, investors and segments of Iraqi society, as emphasized that “this action represents one of the tools of monetary policy to the Bank.”

http://www.almadapaper.net/ar/news/458400/متخصصون-البنك-المركزي-سيسيطر-على-سوق-الذ

Needs translated

added Taan told (morning) that the sale of gold from the central bank to citizens represents a process of withdrawing liquidity from trading where the liquidity in the market about 35 trillion dinars, and this large number Central Bank seeks to downgrade following the procedures of monetary policy.

confirmed its part, economic researcher Suhad Athari, said the central bank announced the sale of gold to the citizens as well as Treasury Notes and the dollar would ease the liquidity as well as he promotes price stability. She told the (morning) that this measure would diversify the means savings for citizens and raise the purchasing power of the currency is likely to witness the price of gold marked decline his request in the market.

Especially that part

So if there selling gold , treasury notes and the dollar to reduce liquidity

Guess what the liquidity must be

They are not selling dollars for dollars

I believe they are saying they are reducing the amount of dinars by selling gold , treasury notes , and dollars for dinars to try to bring down that 35 trillion number

A billion dollars worth of gold is a trillion dinars

They bought almost 2 billion in gold just in march

I hope they are reducing the dinars

Edited March 24, 2014 by dontlop

[thylocene]

Very interesting move.  Investment maybe.

[Tubbs]

Again,

 

If they paid with dinars, this would be a game changer.

 

Why would this be a game changer ?

 

G  RI   G   RV

 

Oye ...just read dontlops post !

Edited March 25, 2014 by Tubbs

[Laid Back]

I think they had 31 Ton of gold + 36 Ton = 67 Ton of gold.

Gold + oil = strong dinar rate

[vomer]

So maybe .. if they are doing most all transactions in dollars maybe all that gold is to hedge against the pending dollar collapse?

[NoviceInvestor]

I think they had 31 Ton of gold + 36 Ton = 67 Ton of gold.

Gold + oil = strong dinar rate

But when ?????

[Laid Back]

But when ?????

No one knows!

Hope is SOON

[SocalDinar]

Thanks Yota

Wondering if they actually will hold their gold.

Their foreign reserves were held in New York last I heard.

Probably this gold also. The Fed just moves some numbers around in their books and presto, Iraq has 36 metric to new of gold.

[SgtFuryUSCZ]

Thanks Yota

Their foreign reserves were held in New York last I heard.

 

***///

 

.. you mean in that building that just got "sold" to China...?

 

Everybody had better wake up and smell the coffee -- DO NOT trust

the fed' with your gold.... just ask Angela Merkle & Germany.

 

Still lookin' fer yer gold...?  look in the Queen's basement and the catacombs of the Vatican.

[Butifldrm]

 

Central Bank buys 36 tonnes of gold during the March Current

Tue Mar 25 2014 ten fifty-five | (Voice of Iraq) - Sumerian News / Baghdad 
Central Bank of Iraq, on Tuesday, about to buy 36 tonnes of gold during the current month of March, saying it represents a single monetary policy to stabilize the exchange rate of the Iraqi dinar. said the bank said in a statement received "Alsumaria News", a copy of which he "bought during the month of March the current 36 tons of gold bullion pure", adding that "these alloys that have been purchased are of high purity, and in accordance with international standards." stressed the bank that he is "seeking through the purchase of gold is to manage its reserves of foreign to achieve an element of safety and integrity, "adding that" buying gold is one of the monetary policy pursued by the achievement of a stable exchange rate of the Iraqi dinar against foreign currencies. " and the central bank decided on January 23, 2014, SEC 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 interested in the Iraqi dinar. announced the International Monetary Fund in December 2012, Iraq has boosted its gold reserves to reach more than 31 tons, after he 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 currencies.

Read more: http://www.sotaliraq.com/mobile2014.php?id=141646#ixzz2wyNjIOjp

Edited March 25, 2014 by Butifldrm

[SocalDinar]

***///

 

.. you mean in that building that just got "sold" to China...?

 

Everybody had better wake up and smell the coffee -- DO NOT trust

the fed' with your gold.... just ask Angela Merkle & Germany.

 

Still lookin' fer yer gold...?  look in the Queen's basement and the catacombs of the Vatican.

Exactly SGT.

And dont trust the bullion banks . Paper Gold is NOT gold.  Gold is down and forecast is not good.

 

 

Morgan Stanley lowers gold price forecast for 2014, 2015

Reuters Mar 10, 2014, 12.19PM IST

Morgan Stanley lowered its gold price forecasts for 2014 on Monday, citing the impact of the US Federal Reserve's reduction of stimulus along with mounting regulatory pressure on investment banks to scale back commodity operations.

Despite a falling US dollar gold price, legal Indian gold imports remain low, in contrast with strong Chinese physical gold demand, the note from Morgan Stanley said.

 

http://articles.economictimes.indiatimes.com/2014-03-10/news/48083928_1_gold-demand-gold-miners-gold-price-forecast

Edited March 25, 2014 by SocalDinar

[SgtFuryUSCZ]

***///

 

 

Thanks, SoCAL... right-o ---- paper is not gold.

 

We do hope gold finds it's bottom and heads up again, though.... usually does.

 

If you're holding gold, silver, nickel, plenty of lead (ammo  ) and - FRESH WATER, ya might just make it out alive ! 

[RVWITHME]

From Zerohedge:

 

Iraq Buys Massive 36 Tonnes Of Gold In March

Submitted by Tyler Durden on 03/25/2014 - 08:09

The Central Bank of Iraq said it bought 36 tons of gold this month to help stabilise the Iraqi dinar against foreign currencies, according to a statement from the bank that was emailed this morning. It is very large in tonnage terms and Iraq’s purchases this month alone surpasses the entire demand of many large industrial nations in all of 2013. It surpasses the entire demand of large countries such as France, Taiwan, South Korea, Malaysia, Singapore, Italy, Japan, the UK, Brazil and Mexico. Indeed, it is just below the entire gold demand of voracious Hong Kong for all of 2013 according to GFMS data (see chart).  Iraq had 27 tonnes of gold reserves at the end of 2013 according to the IMF data and thus Iraq has more than doubled their reserves with their allocations to gold this month. Gold remains less than 5% of their overall foreign exchange reserves showing that there is the possibility of further diversification into gold in the coming months. The governor of the Iraqi Central Bank, Abdel Basset Turki, told a news conference that, "the bank bought 36 tonnes of gold to boost reserves and this move is to strengthen the financial capacity of the country and increase the elements of security and insurance reserves of the Central Bank of Iraq." He added that "the central bank seeks through the purchase of large quantities of gold to stabilize the Iraqi dinar against foreign currencies.” Iraq quadrupled its gold holdings to 31.07 tonnes over the course of three months between August and October 2012, data from the International Monetary Fund shows. 

[ComPLX]

Things are really shaping up. Big, big things in the works

[George Hayduke]

I wonder if Iraq actually takes possession of the gold or if it is held offshore in a extremely secure location with a security service charge added to the overall cost?

[rockfl9]

Most of the gold that is traded between countries for reserve purposes is held in secure storage facilities in major financial centers like NYC, London, Berne etc.

So when Iraq bought the gold it stayed in storage , just got a new owner! Not shipped to Iraq. 

[fancy]

Thanks RVWITH! Your post is very interesting. So Iraq brought more gold than most counties in 2013. Preparing so something for sure.

[George Hayduke]

Thanks rockfl9.

[dontlop]

Total reserves (includes gold, current US$)

http://data.worldbank.org/indicator/FI.RES.TOTL.CD

Iraq Buys $1.56 Bln of Gold, Biggest Purchase in 3 Years

http://mobile.bloomberg.com/news/2014-03-25/iraq-buys-1-56-bln-of-gold-biggest-purchase-in-3-years.html

[yota691]

Iraq within the 40 countries possessing most of the gold in the world

2014/03/26 | Number of readings 50

 

 

 

 

 

BAGHDAD / Wi-News revealed the Central Bank of Iraq, on Tuesday, for the purchase of about 36 tonnes of gold this month valued at 1.56 billion dollars, for the purpose of assisting in the stability of the Iraqi dinar against foreign currencies, according to a statement issued by the Central Bank, seen by "Wi-News" .According to the World Gold Council data, the Iraq such purchases become ranked among the top forty countries possession of gold in the world.

 

Read more: http://dinarvets.com/forums/index.php?/topic/174849-iraq-within-the-40-countries-possessing-most-of-the-gold-in-the-world/#ixzz2x4BIsHY3

Central Bank buys 36 tonnes of gold during the March Current

 

 

Editor Tarek Ammar - Tuesday 25 March 2014 10:54

   

 

 

 

         

 

 

Alsumaria News / Baghdad 
Central Bank of Iraq, on Tuesday, about to buy 36 tonnes of gold during the current month of March, saying it represents a single monetary policy to stabilize the exchange rate of the Iraqi dinar. , the bank said in a statement received "Alsumaria News", a copy of which he was " bought during the month of March the current 36 tons of gold bullion pure ", adding that" these alloys that have been purchased are of high purity, and in accordance with international standards. " stressed the bank that he is "seeking through buy gold is to manage its reserves of foreign to achieve an element of safety and safety." , saying that the "buy gold represents one of the monetary policy pursued by the achievement of a stable exchange rate of the Iraqi dinar against foreign currencies." and the central bank decided in January 23, 2014, SEC assortment of alloys of pure gold weights ranging between (50 g and 1000 g) to sell to dealers in gold investors and segments of society, wishing that the Iraqi dinar. announced the International Monetary Fund in December 2012, Iraq has boosted its gold reserves to reach more than 31 tons, after he bought 23.9 tons of gold. was established Iraqi Central Bank as a bank independent under the law issued on the sixth From March of 2004, as an independent body, which is responsible for maintaining price stability and the implementation of monetary policy, including exchange rate policies are being daily sessions for buying and selling currencies.

[Dinarian64]

So confused - with all this gold buying why did Morgan Stanly downgrade it? Why are prices on the floor?

[Butifldrm]

So confused - with all this gold buying why did Morgan Stanly downgrade it? Why are prices on the floor?