WOW Iraq buys 48 tonnes of gold

[MyLadiesDaddy]

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

Let's not forget, HARD CURRENCY, Means world wide recognized currency and can refer to a

reserve currency. Currency that other Central Banks world hold to

strengthen their own.

But I've also been wondering.

They had to borrow money from the World Bank just to make budget. There people are

living in shacks and don't have enough money to feed themselves,

Yet the CBI can spend nearly $1.7trillion on gold. Doesn't add up.

[blueskyline]

No it does not .