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Iraq buys 48 tonnes of gold


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15/02/2015

Iraq buys 48 tonnes of gold

Leila Ahmed

Announced the World Gold Council (WGC) for the purchase of the Central Bank of Iraq's 48 tonnes of gold during 2014, bringing the Iraq reserves of gold material and contribute to the diversification of its reserves.

 

In an interview with Radio Free Iraq, the economic advisor to Prime Wazzramzar Mohammed Saleh importance that Iraq diversify its reserves of gold and the dollar so that the cover of the Iraqi currency, pointing at the same time that the states do not prefer gold much of the difficulty of his investment and the cost of flooring that paid for the country equipped fees. Saleh pointed out that gold typically constitute 6% of central bank reserves of hard currency, noting that "48 tonnes of gold at the moment, a gold in the bank the amount is sufficient and commensurate with the hard currency reserves."

 

It is believed a member of the Parliamentary Finance Committee MP Ahmed Rasheed flesh to buy this amount of gold may be used by the central bank as a cover for the new currency, which purports Bank issued and is also used as a cover for the process of deletion of zeros from the Iraqi currency. Rashid pointed to the current financial situation does not encourage the purchase of larger quantities of gold material.

 

To that count economist Bassem Jamil Antoine purchase this large gold "good gesture to diversify currency amounts and not limited balances at the central bank on the dollar only", pointing out that gold is one of the balances guarantor of the Iraqi economy, which contribute to maintaining the value of the Iraqi dinar .

 

The CBI had announced in 2013, on his quest to find a balanced ratio of gold with hard currency reserves, saying that as the size of the reserve increases less than the contribution of the other ingredients.

 

It is noteworthy that the International Monetary Fund said in 2012 that Iraq had boosted its gold reserves to reach more than 31 tons, explaining that Iraq bought 23.9 tons of gold in the month of August of the same year.

 

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This right here was not a part of last weeks gold thread ......................It is believed a member of the Parliamentary Finance Committee MP Ahmed Rasheed flesh to buy this amount of gold may be used by the central bank as a cover for the new currency, which purports Bank issued and is also used as a cover for the process of deletion of zeros from the Iraqi currency. Rashid pointed to the current financial situation does not encourage the purchase of larger quantities of gold material.

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Here last week article in News Section...World Gold Council: Iraq bought 48 tonnes of gold in 2014

 
Editor Ammar Kazim - Thursday February 12, 2015 17:09
 
NB-124800-635593470898433706.jpg
 
 
blank.png

 

Alsumaria News / Baghdad
Announced the World Gold Council (WGC), on Thursday, that the Iraqi Central Bank bought 48 tonnes of gold during 2014.

 

The council said in a report published on its website and seen by "Alsumaria News", "The CBI had bought 48 tons of gold during 2014, bringing the country's reserves of gold material by three times what it was during the year."

 
The report added that "enrich and diversify their reserves away from the US dollar continues to be the driving force behind this activity."

 

The Iraqi Central Bank announced, in 2013, on his quest to find a balanced ratio of gold with hard currency reserves, saying that whenever increases the size of the reserve ratio less than the contribution of the other ingredients.

 

It is noteworthy that the International Monetary Fund confirmed, in 2012, that Iraq boosted its gold reserves to reach more than 31 tons, noting that Iraq bought 23.9 tons of gold in the month of August of the same year.

Read more: http://dinarvets.com/forums/index.php?/topic/196936-world-gold-council-iraq-bought-48-tonnes-of-gold-in-2014/#ixzz3Rubb4HLp

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This is great! Hope they buy more gold.....covert those dollars into gold and hopefully increase value of the dinar. This limit of dollar sales in CBI is a good thing just so they can use those dollars to buy more gold or others to diversify their investments.....and yes, it is good for dinar to increase in value....won't be long now. Gotta keep that hope alive.

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I believe also that the ceiling on dollars in the auction is a way to make headway for new currency to come out and as that article suggests delete those zeros from iraqi currency....love it.

Mr unlikely, the 48 tonnes of gold is what they bought from last year. You are right but the numbers u come up with are results of how much they have already bought....I'm pretty sure they have more than 90 tonnes of gold reserve

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Navira I agree. I think they don't give a clear picture on purpose. Last I read malikis son was still in custody in Lebanon. I'm thinking soon iraq will be able to add that 200 mill to the pile, or back to the pile. I know there were articles stating they bought around 60 tons last year.

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POSTED LAST WEEK ! IN DINAR Q'S & A'S

 

 

This right here was not a part of last weeks gold thread ......................It is believed a member of the Parliamentary Finance Committee MP Ahmed Rasheed flesh to buy this amount of gold may be used by the central bank as a cover for the new currency, which purports Bank issued and is also used as a cover for the process of deletion of zeros from the Iraqi currency. Rashid pointed to the current financial situation does not encourage the purchase of larger quantities of gold material.

 

As Blueskyline has pointed out, last week's Gold thread didn't have the MP saying the Gold was for supporting the "New Currency" and "deletion of zeros' which I highlighted in blue and red..  See Yota's post above. :twothumbs:

 

-

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This is freaky deaky.

I believe they had some 35 metric tons before this purchase giving somewhere in the

neighborhood of 90 metric tons. With one ton worth $37,765,432.00 ×90=$3,398,888,880

And that's not even mentioning the nearly 100billion dollars in cash this bank has.

Is it really hard to believe they could re-instate the dinar. $3.22.

I'd bet good money that the Federal Reserve doesn't have nearly that much.

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Here last week article in News Section...World Gold Council: Iraq bought 48 tonnes of gold in 2014

 
Editor Ammar Kazim - Thursday February 12, 2015 17:09
 
NB-124800-635593470898433706.jpg
 
 
blank.png

 

Alsumaria News / Baghdad
Announced the World Gold Council (WGC), on Thursday, that the Iraqi Central Bank bought 48 tonnes of gold during 2014.

 

The council said in a report published on its website and seen by "Alsumaria News", "The CBI had bought 48 tons of gold during 2014, bringing the country's reserves of gold material by three times what it was during the year."

 
The report added that "enrich and diversify their reserves away from the US dollar continues to be the driving force behind this activity."

 

The Iraqi Central Bank announced, in 2013, on his quest to find a balanced ratio of gold with hard currency reserves, saying that whenever increases the size of the reserve ratio less than the contribution of the other ingredients.

 

It is noteworthy that the International Monetary Fund confirmed, in 2012, that Iraq boosted its gold reserves to reach more than 31 tons, noting that Iraq bought 23.9 tons of gold in the month of August of the same year.

Read more: http://dinarvets.com/forums/index.php?/topic/196936-world-gold-council-iraq-bought-48-tonnes-of-gold-in-2014/#ixzz3Rubb4HLp

 

It is believed a member of the Parliamentary Finance Committee MP Ahmed Rasheed flesh to buy this amount of gold may be used by the central bank as a cover for the new currency, which purports Bank issued and is also used as a cover for the process of deletion of zeros from the Iraqi currency. Rashid pointed to the current financial situation does not encourage the purchase of larger quantities of gold material.

Read more: http://dinarvets.com/forums/index.php?/topic/197195-iraq-buys-48-tonnes-of-gold/#ixzz3RxDm0nxr

 

YEP!  POSTED THE 12TH FEB.

 

:facepalm2:

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Two items that also have my attention in this article ...........Saleh pointed out that gold typically constitute 6% of central bank reserves of hard currency, noting that "48 tonnes of gold at the moment, a gold in the bank the amount is sufficient and commensurate with the hard currency reserves." (48 tonnes of gold at the moment "..."the amount is sufficient"..."and commensurate with hard currency reserves" ).....and .....( Rashid pointed to the current financial situation does not encourage the purchase of larger quantities of gold material.).. To me it reads like they have finally gathered enough gold and do not need anymore at this time

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Is that verifiable physical gold holdings?? :unsure: or is it "paper held reserves that nobody can prove is are really there (Fort Knox??) :ph34r:

 

I mean gold without Titanium or other additives.... as has been found contaminating holdings in recent months!!!  :blink:

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