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No take....plan ismfor four zeros...approved by parliament (majlis) cabinet has put forward plan for one zero they and chamber of commerce wants four. One won't achieve anything...my,opinion it's four.

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1 minute ago, screwball said:

Rehashed article from dec 2016.,,

 

Yes I saw that only posted it because of the similarities.

 

pp

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It's why I posted some page references so people could refresh their memories and give some sort of clarification as to why we all invested .

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Just now, screwball said:

It's why I posted some page references so people could refresh their memories and give some sort of clarification as to why we all invested .

 

And it is greatly appreciated SB, more than you can Imagine.

 

  pp

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10 hours ago, WheresmyRV? said:

Hard to say at this point but I find it interesting that they are doing this now in a possible change soon with the iqd.

Exactly...

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What I will say is Iran and Iraq both want their currency to be worth real and have true value...if Iraq can remove three why can't Iran remove four? Iran states that have number in oil reserves, 150 billion in forex reserVes and not sure on gold? Isn't Iraq number 5 in gold reserves? Where's Iran placed?

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Anyone's guess...

 

While it will not come as a major surprise to most, according to senior BOE individuals and Wikileaks, Iran, as well as Qatar and Jordan have been actively purchasing gold well over the amount reported to and by the IMF, in an accelerated attempt to diversify their holdings away from the US dollar. "Iran has bought large amounts of gold in the international market, according to a senior Bank of England official, in a sign of how growing political pressure has driven Tehran to reduce its exposure to the US dollar. Andrew Bailey, head of banking at the Bank of England, told an American official that the central bank had observed “significant moves by Iran to purchase gold”, according to a US diplomatic cable obtained by WikiLeaks and seen by the Financial Times." The reason for Tehran's scramble into gold: "an attempt by Iran to protect its reserves from risk of seizure”. The misrepresentation of Iran's holdings could be so vast that Iran could possibly be one of the largest holders of goldin the world. "Market observers believe Tehran has been one of the biggest buyers of bullion over the past decade after China, Russia and India, and is among the 20 largest holders of gold reserves... with an alleged 300 tons, big enough to challenge the UK at 310 tons, and more than Spain! " As a reminder according to the WGC, Iran is not even disclosed as an official holder of gold. Also, Iran is not the only one: "Cables obtained by WikiLeaks cite Jordan’s prime minister as saying the central bank was “instructed to increase its holdings” of gold, and a Qatar Investment Authority official as saying the QIA was interested in buying gold and silver." Which means that there is far more marginal demand by countries supposedly friendly to the dollar, as many more than previously expected are actively dumping linen and buying bullion. What all this means for the future price of gold, especially with geopolitical tension in the region,  and QE3 imminent, is rather self-evident. 

From the FT:

 
 

Andrew Bailey, head of banking at the Bank of England, told an American official that the central bank had observed “significant moves by Iran to purchase gold”, according to a US diplomatic cable obtained by WikiLeaks and seen by the Financial Times. 

Mr Bailey said the gold buying “was an attempt by Iran to protect its reserves from risk of seizure”.

Market observers believe Tehran has been one of the biggest buyers of bullion over the past decade after China, Russia and India, and is among the 20 largest holders of gold reserves.

They estimate it holds more than 300 tonnes of gold, up from 168.4 tonnes in 1996, the date of the most recent International Monetary Fund data.

Ummm, according to the WGC the UK (thank you Gordon Brown) has 310 tons of gold... Iran has the same amount of gold in storage as the (formerly) biggest colonial power in the history of the world. And this is not breaking news?

 
 

The cable, dated June 2006, is the first official confirmation of Tehran’s buying. Last year central banks became net buyers of bullion after 22 years of large sales, helping drive gold prices to all-time nominal highs. Trades by central banks are often kept secret.

Bankers said other Middle Eastern countries had also been quietly adding to gold holdings to diversify away from the dollar amid political tensions and volatility in currency markets.

“The totality of central bank reserves is not what is reported to the IMF,” said Philip Klapwijk, executive chairman of GFMS, a precious metals consultancy. “There’s probably another 10 per cent on top of that.”

Cables obtained by WikiLeaks cite Jordan’s prime minister as saying the central bank was “instructed to increase its holdings” of gold, and a Qatar Investment Authority official as saying the QIA was interested in buying gold and silver.

“There is no question some Middle Eastern countries are very interested in buying gold,” said George Milling-Stanley, head of government affairs at the mining industry-backed World Gold Council.

Secret undisclosed purchases of physical gold... What next: secret undisclosed selling of paper gold by such unusual suspects as JPM? Unpossible.

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seems they are getting their ducks in a row financially, but I'm kinda bummed and confused with this currency change possibility. I guess we wait and hopefully Iran won't screw us over and say our rial is worthless.

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1 minute ago, markb57 said:

seems they are getting their ducks in a row financially, but I'm kinda bummed and confused with this currency change possibility. I guess we wait and hopefully Iran won't screw us over and say our rial is worthless.

 

Time will tell...if you are worried about Iran then gosh should be about Iraq...same beasts..

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2 minutes ago, markb57 said:

I am...

Lol...sit back enjoy the ride, you are already invested I presume in both all we can do is wait..

Edited by screwball
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12 minutes ago, markb57 said:

seems they are getting their ducks in a row financially, but I'm kinda bummed and confused with this currency change possibility. I guess we wait and hopefully Iran won't screw us over and say our rial is worthless.

Mark......The switch of the Rial to the Toman isn't gonna happen overnight. I remember an article that I believe Screwball brought over or I read somewhere else that said we would have time to turn in our Rials. I don't remember the exact time frame right now but I think it was something like 2 years. It'll take time for them to print out the new bills (Toman's) and it'll take time for them to collect all the Rials that out there.  

I don't think we'll have a problem on our hands at all.   I also think they will rv close to Iraq's rv . It's been said that it's part of "THE PLAN" their plan. I also think that their rate has to be somewhat competitive with the other countries around them (for trade). I would think they would come out at 1-1 but strive to float higher. This part is just IMO.

But thats what I think.  :twocents:

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5 minutes ago, markb57 said:

I hope you are right. I just checked the rial sales site and it's not showing toman so that is good. still selling rial though.

 

Yea thats right. Lets say we wanted to buy Tomans now.    We can't !   They're not available for purchase yet.

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1. if it hit's a dollar, i'm done. heck if it hits .50, I'm gone....lol

2. yeah, thats the biggie. where, if not in the US, then hopefully we'll be invading Canada and PP.

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