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World Gold Council: Iraq ended 2019 without buying anything from it


yota691
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1 hour ago, yota691 said:

A spokesman for the Central Bank of Iraq Acer Jabbar said the total gold reserves in the Bank of 90 tonnes , and thus occupies the thirty seventh globally and seventh Arab rank. 

I totally agree with you Yota The translations can be confusing and the title of this article  is a bit deceiving. You are correct  and it should have read

of Iraq has the Thirty Seventh gold reserves in the world "and denied" the Kurdistan region of it

Thanks for your opinion yota

 

Edited by SocalDinar
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14 hours ago, mr.unlikely said:

Danielchu the Kurds are entitled to 17% of the operating budget. That has absolutely nothing to do with the reserves at the CBI. Two completely separate issues. One pays for the day to day expenses that the government incurs the other backs the value of the currency. Now do you think that it is a good idea to dip into the reserve that backs the currency because the Kurds say they are entitled to it? It's not even the Kurds anyway, its more than likely the Barzanis and their loyalists trying to steal yet another chunk or Iraqi wealth.

i beg to differ .. the reason they were granted an additional 17% was for the gassing of them.it also includes the reserves because they are a federal entity as the main GOI!

if the shitte and sunni didnt want to give them the propper share as in article 140 KIRKUK and 117 for the shares putting it in the constitution seems like a waste of paper.

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Gold reserves in central Iraq was "90 tons" occupies a world class high

16-07-2017 01:33 PM
Number of readers: 1595
image.php?token=aedcb04ec6a0a584c35e276d80100d62&size=
 

Baghdad News -

 

 

Iraqi Central Bank, announced that the bank gold reserves of 90 tons, which occupies a world class high.

 
A spokesman for the Central Bank of Iraq Acer Jabbar, the total gold reserves in the Bank of 90 tonnes, and thus occupies the thirty-seventh globally and seventh Arab rank.

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2017/07/18 (00:01 PM) - Number of readings: 69 - Number (3972)
 
 
533066.jpg?width=400&id=100
 
Central Bank: confirms Iraq's possession of the fifth gold reserves in the world
 

 Baghdad / Zahraa al-Jassim 

Economist Ahmed Barihi considered Iraq's possession of the world's fifth gold reserves as good and useful. He pointed out that while gold is one of the main reserves of the international center, which is topped by hard currency, the Iraqi Central Bank can at any moment convert gold into foreign currency and use it in international transactions. Reinvest them in the international market or also use them to repay debts. 

The Central Bank of Iraq announced on 16-7-2017 that the bank's gold reserves are 90 tons and it occupies a high international ranking. The total gold reserves in the bank is 90 tons, thus it occupies the 37th position globally and the seventh in the Arab world. The Central Bank of Iraq gold in 2012 was only 30 tons, but it has reached three times now, at a time when the World Gold Council announced the rise of the world's reserves of gold in the month of February, noting that Iraq has maintained the fifth rank of Arab reserves. 

According to economic expert Ahmed Breihi in an interview with (the extent), the Central Bank intended this statement that the reserves owned by him enough, but: On the other hand, the reserve, which is said when the talk of the Central Bank called international reserves, and the use of the term cash reserves expression The reserves are composed of two paragraphs: the first is the reserves of foreign currency, and the second is other reserves, including gold. When foreign currency reserves are added with gold, they are called international reserves. Therefore, these reserves are now sufficient for the Central Bank of Iraq Compared to other countries and central banks, and this is what the Central Bank of Iraq said in his statement on the possession of Iraq ranked fifth of the Arab world reserves. 

The governor of the Central Bank Ali Alalak, announced on 11/5-2017, the increase in foreign exchange reserves than in 2016, confirming the rise to 49 billion dollars. 

"When the central bank says that gold reserves are now 90 tonnes, that means a small portion of the reserves is good, because gold is usually a central part of the reserves," he said. "However, we are ranked fifth in the global gold reserves , Which is useful, especially as gold reserves can be converted to anything else, and can be the central bank at any moment to convert them into foreign currency and used in international transactions or re-investment in the international market, which is certainly a good store because gold is a means of saving value and central A can This gold is converted into a foreign currency and is used for the purposes that it wants, whether to finance foreign trade or to employ the amount in the international financial market or to repay debts. 

He adds that the reserve of gold is certainly a good stock in the central bank, and we can also benefit greatly from the confidence of the world in gold, but the reserves of central banks remain primarily foreign currency, adding: On the other hand, the reserve of the Central Bank of foreign currency is not A little, especially since the central recently stated that the reserves of foreign currency is sufficient, therefore, according to the concerns of the Central, the international reserves of gold and foreign currency are sufficient and good, making Iraq's position to international financial organizations good and reassuring at the same time. 

The World Gold Council in its statistics published on its website last Saturday, that Iraq has maintained 37th place in the world out of 100 countries listed in international financial statistics of the global reserves of gold during the month of February of 2017, pointing out that Iraq ranked fifth in the Arab after each From Iraq, Saudi Arabia, Lebanon, Algeria and Libya, and that Iraq's gold reserves remained constant, recording 89.8 tons, representing 7.0 of the rest of the other currencies, indicating that the last purchase of Iraq from gold was in April 2014, where he bought 15.16 tons. 

The world's reserves of gold rose for the month of February by 11 tons from January to 33 thousand and 259 tons, while the United States ranked first in the world in terms of reserves, which amounted to 8.133.5, followed by Germany with 3.377 tons,

The Central Bank decided in early 2014 to form a series of pure gold bullion weighing between 50 g and 1000 g for sale to gold traders, investors and segments of society wishing to do so in Iraqi dinar. The World Gold Council is an international organization based in London, Both New York and Momb

 J, Shanghai, Beijing, Tokyo and Singapore, the Council aims to develop the global gold industry market and works with international organizations to stimulate demand and develop innovative uses of gold and take new products to the market, as the Council provides a comprehensive analysis to give decision-makers information on the demand for gold factors.

 

http://almadapaper.net/ar/news.....33066/link

 

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  • 2 weeks later...

CNN. Broadcasting From The CBI Amongst The Cash Reserves And Gold - Put It On My Account !

 

 

 

(by don961)

2017/07/31 (00:01 PM) - Number of readings: 62 - Number (3983)
 
533809.jpg?width=400&id=100
 
Central Bank: Our financial situation is good for four years to come even as oil prices do not recover

 Baghdad / Zahraa al-Jassim 

 

The central bank explained that the reserve of gold that it has, is part of the cover of the national currency, and its function is not the transition time hard to dollars to strengthen the budget as some believe, and stressed by saying, it is not practical to liquidate that reserve and convert it to the dollar in front of any financial problem passes Said that even if Iraq does not recover oil prices, its financial position will be good for four years to come. An economist confirmed that the central bank has good reserves and does not raise the burden of deductions from the citizen, as some believe, indicating that the reserve is used to finance imports. Not for domestic spending This is the case in all countries of the world. 

"Iraq is not the fifth country in the gold reserves," says Ihsan Shamran, director of the Treasury and Issuance Department. "The central bank has built the gold reserve, which now has about 89 tonnes of gold as part of the national currency cap, "When we say that the source of the circulation amounted to" such "billion of the Iraqi dinar, I mean that this source is supported by the dollar and gold as well as the rest of the bonds and others, and here may actually liquidate this Reserve any transfer to liquid funds from the dollar in front of any A difficult problem in the country, especially as his job to support the Iraqi currency and make it a very strong currency, thanks to the presence of cash reserves of the dollar and another gold. 

"This is also a reserve for international financial organizations in a good position as well. Iraq is known and calculated now what is its financial and economic situation. Even the financial problem is now an emergency and it will be overcome and the Iraqi economy will recover. At a safe level, and Iraq in the next four years and with bad oil prices will be an excellent financial situation, but if oil prices recover, the central bank will return to build reserves of the dollar. 

The veteran economist Ahmed Barihi, in an interview with (the extent), that Iraq does not need to turn the reserve of gold into a difficult currency, it has enough foreign exchange reserves, and there is a good amount of them now in the Central Bank, and that Iraq does not need To the use of gold, but on the other hand, the existence of reserves of the central bank is good does not raise the burden of deductions from the citizen as some believe, because this reserve is used to finance imports and not for domestic spending, continuing: Usually reserves of the Central Bank of Iraq and in all countries of the world , Used for external payments and not for payments The citizen must know that the foreign currency is used for foreign payments and not for the citizen. The latter must know that, because the newspapers and economists are deceived this fact in people's minds until there is confusion between the central bank reserves and the budget, which is a mistake. At a time when it was necessary to focus on the currency used for payments and in all countries of the world, and has no other job, and here the budget is a revenue and expenses and the Central Bank another institution. 



Breihi had earlier pointed out that while we are ranked fifth in the global gold reserve, it is useful, especially since gold reserves can be converted into anything else, and the central bank can at any moment convert them into Foreign currency and used in international transactions or re-investment in the international market, which is certainly a good treasure because gold from the means of conservation value and central can convert this gold, which has a foreign currency and uses the currency for the purposes he wants either to finance foreign trade or to invest the amount in the financial market International And to pay off debts. 

The Central Bank of Iraq announced on 16-7-2017 that the bank's gold reserves are 90 tons and it occupies a high international ranking. The total gold reserves in the bank is 90 tons, thus it occupies the 37th position globally and the seventh in the Arab world. The Central Bank of Iraq gold in 2012 was only 30 tons, but it has reached three times now, at a time when the World Gold Council announced the rise of the world's reserves of gold in the month of February, noting that Iraq has maintained the fifth rank of Arab reserves. 

The governor of the Central Bank Ali Alalak, announced on 11/5-2017, the increase in foreign exchange reserves than in 2016, confirming the rise to 49 billion dollars.

http://almadapaper.net/ar/news.....33809/link
 

 

 

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12 minutes ago, blueskyline said:

Thanks Thug . That seems to be a very Strong and Sound Central Bank .........................................................................................:pirateship:

 

If U Think That's Strong - U Should Catch A Whiff From The Camel Parking Lot Out Back ! :bananacamel:

:D  :D  :D 

 

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35 minutes ago, DinarThug said:

says Ihsan Shamran, director of the Treasury and Issuance Department

 

36 minutes ago, DinarThug said:

his job to support the Iraqi currency and make it a very strong currency

Yes sir Mr. Shamran, that is your job indeed so get to it, let me know if there's anything I can do to help you out with that.

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4 hours ago, DinarThug said:

it is not practical to liquidate that reserve and convert it to the dollar in front of any financial problem passes Said that even if Iraq does not recover oil prices, its financial position will be good for four years to come

that did strike me a bit off ,  until I read all of the article ,  not practical to change the  central bank  horde of cash and gold , to equal that of the dollar , if a problem arises ,  (  really sounds like , " if they had a sudden  need of  big cash " they have it covered , and  do not need the reserves to prop-up the economy to offset , what ever that problem might have on its  country as a whole  )    heck with all the cash coming in from  loans from all over I would have too say  " heck yeah you should have plenty "  :huh: ...

 

4 hours ago, DinarThug said:

"The central bank has built the gold reserve, which now has about 89 tonnes of gold as part of the national currency cap, "When we say that the source of the circulation amounted to" such "billion of the Iraqi dinar, I mean that this source is supported by the dollar and gold as well as the rest of the bonds and others, and here may actually liquidate this Reserve any transfer to liquid funds from the dollar in front of any A difficult problem in the country, especially as his job to support the Iraqi currency and make it a very strong currency, thanks to the presence of cash reserves of the dollar and another gold. 

now  we  see they might have  actually hit the mark on brining in dinar on the currency , and bond auctions   { they  hit  the currency cap }    support the Iraqi currency and make it very strong ----->  come on then  and  let  this  pop at 1.20  per dinar ! B)

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This article is good for learning basic of international bisness.

 

5 hours ago, DinarThug said:

The veteran economist Ahmed Barihi, in an interview with (the extent), that Iraq does not need to turn the reserve of gold into a difficult currency, it has enough foreign exchange reserves, and there is a good amount of them now in the Central Bank, and that Iraq does not need To the use of gold, but on the other hand, the existence of reserves of the central bank is good does not raise the burden of deductions from the citizen as some believe, because this reserve is used to finance imports and not for domestic spending, continuing: Usually reserves of the Central Bank of Iraq and in all countries of the world , Used for external payments and not for payments The citizen must know that the foreign currency is used for foreign payments and not for the citizen. The latter must know that, because the newspapers and economists are deceived this fact in people's minds until there is confusion between the central bank reserves and the budget, which is a mistake. At a time when it was necessary to focus on the currency used for payments and in all countries of the world, and has no other job, and here the budget is a revenue and expenses and the Central Bank another institution. 

 

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On July 17, 2017 at 10:33 PM, chinadawg said:

Jesus Christ !!!!!....5th in the M.E.,,,,,7TH IN THE GLOBE....37TH IN THE WORLD....BUT..7TH IN THE M.E. 37TH IN THE WORLD and 5th on the GLOBE,,, and 7th in the M.E. 37TH IN THE GLOBE AND 5TH HIGHEST IN THE WORLD........THESE DAMN MONKIES !!!!

Yet, we are at .00086. 

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4 hours ago, ChuckFinley said:

Yet, we are at .00086. 

Complacency at its best... One day it will change.. Let's hope its within the next few months as I just made a prediction to a family member that it would and I like to speak the truth always .. 

Edited by NoviceInvestor
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  • yota691 changed the title to World Gold Council: Iraq ended 2019 without buying anything from it

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