Central Bank buys 36 tons of high-purity gold bullion

[Francie26]

Did the gold get a new owner, or is this just  the return of all Iraq's gold that was taken from Saddam and brought to the United States? 

[gxr]

Maybe those gold bars are really full of milk chocolate   

No,  I believe dark chocolate.

[TigerTink]

***///

 

.. 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.

No kidding!!!  I was going to say something similar, but you hit the nail on the head and covered it just fine! 

[yota691]

Two: Gold the best guarantee for the stability of exchange rates

 

 

         

3/26/2014 0:00 

Baghdad - Mostafa Hashemi 

confirmed two economists that the application of monetary policy tools of the central bank in an active manner that would enhance the value of the currency and maintain the stability of exchange rates against foreign currencies, considering a central strengthening reserves monetary gold that is in line with the current stage to strengthen Iraq's economy. was the central bank may He announced that the amount of gold purchased during the month of March about 36 tons of high purity is very applicable to international standards adopted, comes as part of the strategy pursued by the Bank in the management of reserves of foreign to achieve racial safety and safety through the use of monetary policy tools to stabilize the exchange rate of the dinar against foreign currencies . was central had decided earlier in the SEC assortment of pure gold bullion weights ranging between (5 g and 1 kg). He announced, at the time, the direct actions contracted to import them and then sell them through the banking system, as this procedure represents a monetary policy tools. Economist said the appearance of Dr. Mohammed Saleh, said that the citizen trusts absolutely transactions of government means that he trusts the precious metal which items imported Central as guaranteed and standard specifications in addition to it's international origins is what makes gold imported from the Central is much better than that items imported gold traders. pointed out that the measure would double the opportunities to increase credit (loans granted by banks to citizens) the adoption of gold coins as collateral good loan repayment terms will reflect so positively to improve their reality of living and the national economy in general. 

Meanwhile adviser said the Iraqi Institute for Economic Reform, Dr. Ahmed al-Husseini that the application of monetary policy tools to effectively reduce the dollarization of the economy. pointing out that there is another instrument of monetary policy pursued by the central bank is setting up a basket of foreign currencies and reduce dependence on the dollar because the country is suffering from the dollarization of the economy. added Husseini told (the morning): the basket as possible to contain the currency more stable than the dollar Kganah sterling or the euro or the Japanese yen and the Swiss franc and other currencies of the world economies to promote a strong cash reserve currencies along with a variety of gold and the dollar. explained that the adoption of a basket of currencies prevent Iraq from fluctuations in world oil prices and work to prevent Kmusdh financial impact of these fluctuations on cash reserve generated from oil sales.

[DanielM]

 I think this is an excellent question.....where are they getting it?????

 

I AGREE!!!

[The Machine]

But who sells 36 tons of gold

 

 

 I think this is an excellent question.....where are they getting it?????

 

It's not so much who sells it but where it comes from ...... it's quite common for large gold purchases like this every year all around the globe.

 

approximately 2,500 tons of gold is mined every year around the world with South Africa being the leader in production ...... So who sell's it,  well mines do, more specifically the companies that own mines and bullion refineries.

 

In china there is 350 - 450 tons mined every year and the government buys it all, none of it every leaves China

 

Just because they receive an order for 36tons doesn't mean they have 36 tons sitting there waiting ...... it could be based over a 24month delivery or more.

 

From what I can remember it was reported a few years ago that the value of all the gold ever mined in the world since the beginning of human history was some $1.89 trillion dollars in today's money ......... not a whole lot really , well compared to the US debt anyway.

[rockfl9]

All this means is that The CBI swapped some of its reserves (dollars ) for an equivalent amount of gold. Not necessarily increasing the amount of the reserves!

[The Machine]

All this means is that The CBI swapped some of its reserves (dollars ) for an equivalent amount of gold. Not necessarily increasing the amount of the reserves!

 

that is the most likely scenario

[yota691]

Central Bank decides SEC "11" tons of gold bullion for "diversification of the means of saving the public"

 

Author: ASJ, BS 

Editor: BS 02/04/2014 15:12 Number of readings: 34 

 

 

 

Long-Presse / Baghdad

Central Bank of Iraq, on Wednesday, for a contract with an international company for "SEC" 11 tons of gold bullion in order to diversify the means of saving for the public, while stressing his intention SEC new alloys in the event of increased demand.

According to a statement of the Central Bank received a (long-Presse) a copy of it, "in the light of the decision of the bank's board last judge of the need to diversify the means of saving for the public, has been contracted with an international company specialized CREATION Gold Stamping 11 tons of gold bullion," noting that "the weights of these alloys ranges between 5 g and 1000 g. "

The bank said in a statement, "We hope that this move is the first stage in the event of increased demand for gold bullion will be coined new alloys."

The Iraqi Central Bank announced (March 25, 2014) for the purchase of 36 tons of gold during the month of March last year, returned to this matter represents a single monetary policy to stabilize the exchange rate of the Iraqi dinar.

The Bank has decided, in (January 23, 2014), "SEC assortment of gold bullion" to sell gold to dealers, investors and segments of Iraqi society, as he emphasized that "this measure is one of the tools of monetary policy to the 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), the arrival of the 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.

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.

 

 

Read more: http://dinarvets.com/forums/index.php?/topic/175275-central-contracted-with-a-company-to-manufacture-the-global-population-alloys-to-sell-to-citizens/#ixzz2xjUdDfyE

[unirod]

I made some comments on other posts that we are behind the curb on this news. I believe the fluctuation that occurs in the auctions are being caused by the selling of this already minted coin to the banks and in turn to Iraq citizen investors...IMO