CBI: We have 80 tons of gold in reserve

[Markinsa]

CBI: We have 80 tons of gold in reserve

 

26/04/2015 07:56:20

EconomyAgencies

 

Iraqi Central Bank announced on Saturday, that the reserves of gold of 80 tons, which is equivalent to 10% of the reserve has, stressing that all backups of internationally acceptable levels.

 

The governor of the Central Bank of Iraq, the relationship, in his remarks, said that "the Central Bank reserves include foreign currencies and bonds and 80 tonnes of gold, which represents 10% of the Iraqi Central Bank reserves", refusing to disclose the total reserve size of the central bank, but he stressed that "variable reserves rises and falls daily because it depends on oil imports."

 

Keywords confirmed, that this reserve comfortable and well, one of the internationally accepted rates.

 

Iraq seeks to compensate for the drop in oil prices to pump more crude oil due to the need for more cash to fund large-scale military campaign against al "Daash."

 

And controlled organization "Daash", large parts of North and West of the country, but the vital oil fields and export facilities in the south and north of the country remained immune to attacks.

 

He said Hoshyar Zebari, Minister of Finance, in the Iraqi government, the Iraqi Central Bank's reserves of hard currency dropped to $ 68 billion, down from the record set in 2013 after arriving to $ 76.5 billion, which was the highest in the history of Iraq.

 

Gold

[sandfly]

THANKS

[TQueezy]

So they say 80 tons of gold is 10% of that reserves. The valuation of golf would easily allow someone to calculate the total reserve value then.

Any mathy type people on DV wanna help with this?

[DinarThug]

THANKS

 

Any mathy type people on DV wanna help with this?

 

And Ur Asking After An Einstein Protege Math Genius Like The Mighty SandFly Has Already Weighed In On This ?

 

         

[Machine Gun]

Could be that the foreign currencies, bonds, and gold represents 10% of the total reserves.

Edited April 26, 2015 by Machine Gun

[RAGARCIA62]

80 tons of gold is about $600,000,000, according to my google search.  i really don't know.  but with that said.

600,000,000 is 10% of 60,000,000,000.  i hope my math is correct.

Edited April 26, 2015 by RAGARCIA62

[RRogers14]

CBI: We have 80 tons of gold in reserve

 

26/04/2015 07:56:20[/size]

EconomyAgencies

 

Iraqi Central Bank announced on Saturday, that the reserves of gold of 80 tons, which is equivalent to 10% of the reserve has, stressing that all backups of internationally acceptable levels.

 

The governor of the Central Bank of Iraq, the relationship, in his remarks, said that "the Central Bank reserves include foreign currencies and bonds and 80 tonnes of gold, which represents 10% of the Iraqi Central Bank reserves", refusing to disclose the total reserve size of the central bank, but he stressed that "variable reserves rises and falls daily because it depends on oil imports."

 

 

Tons or Tonnes.. there is a difference right?

Edited April 26, 2015 by Markinsa
Fixed Quote Box

[vato96]

In a previous article about the gold that Iraq has back in January or Febuary, I figured out that. Iraq has 162.9 tons of gold. This is SMOKE people Iraq has much more than they are disclosing.

[vato96]

I was wrong the post was March 1, 2015 where the parlament denied that Iraq was bankrupt

[King Bean]

32,000 ounces x $1180 ounce = $37,760,000 per ton x 80 = $3,020,080,000 in gold. If that is only 10% of reserves then total reserves would be $30,200,800,000. ($30 trillion) I've only had 3 cups of coffee so somebody check my math. They're gonna need a bigger vault.

Edited April 26, 2015 by King Bean

[skeetdog]

Thanks Markinsa....Where's ''The Machine'' when we need him....Someone turn-on...''The Machine Beam''......

[vato96]

I didn't check your math King Bean but I like the numbers you got!!!!

[Laid Back]

The only thing I know is that the CBI can cover all dinar in circulation 1-1/2 times.

Go Iraq

Go gold

Go dinar

Go $1+

[skeetdog]

In waitin(g) for a response from ''The Machine Beam''...I'll settle for ''Laid Back's'' scenario....   

[Laid Back]

In waitin(g) for a response from ''The Machine Beam''...I'll settle for ''Laid Back's'' scenario....

skeetdog,

Hoping the CBI increase the exchange rate this year.!!

[elgin]

In a previous article about the gold that Iraq has back in January or Febuary, I figured out that. Iraq has 162.9 tons of gold. This is SMOKE people Iraq has much more than they are disclosing.

Thanks Markinsa,

 

Did they forget to form a committee to study the release of information about the 80 tons of gold ? YES Vato96 I remember the buzz on DV about 160 or so tons of gold, so someone just walked off with 80 tons of gold ? Its getting hard just to follow the money any more..     

[skeetdog]

I hear ya ''Laid Back''...It would only irritate the situation to prolong the immanent...Iraq's economy needs to evolve along with their currency...Iraq needs to go international with their own currency...The dinar needs to be established at its worth on the international level for the economy to produce at an efficient rate...The private sector needs to be observed for a decade or two to assure free enterprise and healthy functions of interacting competitive markets...      

[SnowGlobe7]

Does this include the 200 billion missing....(as far as what they can cover)

 

Looking for the thread...I responded to it earlier

[Boozer]

I guess Maliki took the other 80 tons..

[SnowGlobe7]

most likely suspect

[yota691]

Keywords: 80 tons of central bank gold reserves

 

Gold Bullion

 

 

 

Author: af Editor: ag reporter: we

Number of Views: 1363

 

04/25/2015 18:39

 

Tomorrow Press / Baghdad: central bank governor said the agency relationship, the Sabbath, the central bank reserves includes a basket of foreign currencies and international bonds and gold, noting that the bank has 80 tons of gold. He Keywords for "tomorrow's Press," that "the IMF International issued the list of directives, internationally agreed upon to determine the state basket and what are the international currencies, gold and bond rate, "noting that" the Iraqi Central Bank owns 80 tonnes of gold, including re-10 from the bank reserves, a good rate and within internationally accepted equations do not make trouble. " He added, "The gold safer, but keep it does not achieve the earnings may increase the cost of retention." He announced the World Gold Council, that Iraq was ranked 37 globally and fifth Arabs of gold reserves, while the United States ranked first in the world and the first Saudi Arab.

[blueskyline]

A Ridiculous Amount Of Wealth ....

[The Machine]

Thanks Markinsa....Where's ''The Machine'' when we need him....Someone turn-on...''The Machine Beam''......

 

just came across this one ...... King bean looks to have the correct numbers

 

from using todays gold value I shouldnt be too far off from where he got to.

 

here goes

 

1 ounce of gold = $1204

1KG = 32 ounces = $38,528

1ton = 1,000 Kg = $38,528,000

 

80 tons = $3,082,240,000

 

the Gold price has risen almost 2% since King Bean said $3,020,080,000 (he was correct at the time)

 

 

I honestly thought they had more than 80 tons ....... I can remember bigger numbers bieng quoted not so long ago.

 

 

Just looked up some numbers, according to a report from the world gold council Iraq has a holding for 89.8 Tons which accounts for 4.9% of its FOREX reserves and they are now 37th in the world for gold holdings.

Edited April 27, 2015 by The Machine

[boosterbglee]

I agree Machine....there were so many articles last year about how much they bought....was it all just smoke? 

[The Machine]

A Ridiculous Amount Of Wealth ....

 

 

It may look like a big number but in global terms it's a little number.

 

consider this, the US claim to have 8,133.5 tons of gold equating to $313,367,488,000 ...... now thats a big number !!

 

those claimed 8,133 tons make up 74% of US Forex reserves.