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Central Bank announces the arrival of up to 90 tons


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A gold ingot weighing a kg
Central Bank announces the arrival of up to 90 tons


 

Author: ASJ
Editor: BK, BS
2014-04-03 18: 06
Hits: 43


 

 

Range/Baghdad

The Iraqi Central Bank, disclosed Thursday, the arrival of up to 90 tons of gold to support the value of the Iraqi dinar, stating that it contributes to the strengthening of the national economy.

The Central Bank said in a statement (term), "to buy 60 tonnes of pure gold from around the world over the past two months in order to support the national currency, dinar," Noting that "the amount of gold reserves which currently has reached 90 tonnes.

The Central Bank, said that "on the gold reserves to support the value of the Iraqi dinar against other currencies and boost the national economy in General."

The Central Bank of Iraq was announced last March, to purchase 36 metric tons of pure gold to raise its reserve, returned it aims to achieve "the highest levels of financial integrity" of Iraq.

 

 

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I don't see them trying to handle more than a 1 to 1 even if they could with no problems...not starting out. They may wait and see how things go before letting caution go to the wind. 1 to 1 would mor

A gold ingot weighing a kg Central Bank announces the arrival of up to 90 tons   Author: ASJ Editor: BK, BS 2014-04-03 18: 06 Hits: 43     Range/Baghdad The Iraqi Central Bank, disclosed T

90 ton of gold + 83 billion in cash reserve. Increase the exchange rate please.!

If Iraq got all of this Gold (90 Tons) and over 80 plus billion in cash reserve - Why havn't they RV'd their currency?  Why keep worthless toilet tissue paper money when you have opportunity to increase your currency?  Am I missing something here?

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So roughly $122-billion in reserve's. At $80-billion, they stated, they could handle an exchange rate up to $2.50 to the dollar. So help me out here. Would that put them at a possible $2.79 per dollar?

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As someone intersted in detail, what weight do we convert to value ?

 

    One Metric Tonne = 1000 Kgs.                  x 90 = 90,000 kg.

 

    One UK Ton          = 1016 Kgs 46.906g.    x 90 = 91,444 kg

   

    One US ton           = 907kg  184.75g.        x 90 = 81,646 kg

 

   It says it all about this Country.. nothing is straight forward.

 

   Which weight would you like to be paid in ?.

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I don't see them trying to handle more than a 1 to 1 even if they could with no problems...not starting out. They may wait and see how things go before letting caution go to the wind. 1 to 1 would more than make my day! :cigar:

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Why support the dinar if it's always gonna be worth what generic toilet paper is worth? 90 tons of gold is a LOT of value....and I bet they're nowhere near finished buying gold.

Excellent point. They will have a currency backed by something valuable, unlike the USD, so why would you have a TP currency? You would not.  :twocents:

Great article Woody!  :twothumbs:

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my question is this. there has been articles saying they cannot pay their employees, with out the buget being passed. so wheres the money coming from to buy this gold. if its the cbi thats using their reserves, what have they gained

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K98. I wish they would do 1 to 1 but honestly I would take .10 which is a push based on everything I've read. I've been wrong before! Many times before think of it.

 

Does make you wonder what the purpose of the gold purchases is if they weren't going to RV using the gold to back the currency.

 

If we went 1 to 1 I would peace out and spend the rest of my life watching my wife on the beach.

 

Go RV!

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As someone intersted in detail, what weight do we convert to value ?

 

    One Metric Tonne = 1000 Kgs.                  x 90 = 90,000 kg.

 

    One UK Ton          = 1016 Kgs 46.906g.    x 90 = 91,444 kg

   

    One US ton           = 907kg  184.75g.        x 90 = 81,646 kg

 

   It says it all about this Country.. nothing is straight forward.

 

   Which weight would you like to be paid in ?.

 

I think we both know the answer to that lol

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Never posted before. Hate admit but these discussions are WAY ABOVE my SIMPLE mind. I actually went a while thinking they will never "RV" or whatever they have to do. But lately, I have had a feeling things are about to happen. I have "feelings" that seem to be a sign, and in the past, I have ignored my "feelings" later learned my "feelings" were a sign I ignored. I don't have a lot invested and don't even have the basic knowledge you all have. But a "feeling".  

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