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DWS112

Iraqi National Bank opens first place in Iraq to manage cash

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I gave you a trophy because you got out of the swampy 2nd Amendment Forum.

haha. Hope you are having a great day.  I’m slugging it out in the trading pits. Got a nice hit on ZM.  Markets are slow, weak action!!  Oil getting pummeled again.  I shorted 

Valero for a decent gain 

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1 minute ago, Pitcher said:

I gave you a trophy because you got out of the swampy 2nd Amendment Forum.

haha. Hope you are having a great day.  I’m slugging it out in the trading pits. Got a nice hit on ZM.  Markets are slow, weak action!!  Oil getting pummeled again.  I shorted 

Valero for a decent gain 

 

I'm having a good day as well. My GOLD stock is bumping nicely as is OGI... Happy trading...

 

B/A

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I was just going to post gold is going up. Got into nem about 20 min ago. 

 

Nugt 3X gold miners etf. Don’t linger or hold overnight on the 3x etf’s  Great trader for quick bursts

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2 minutes ago, Pitcher said:

I was just going to post gold is going up. Got into nem about 20 min ago. 

 

Nugt 3X gold miners etf. Don’t linger or hold overnight on the 3x etf’s  Great trader for quick bursts

 

Thanks for the tip... 😎

 

B/A

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42 minutes ago, Pitcher said:

We found common ground. Haha. GOLD!!!!

 

Yes sir..... My opinion and that's all it is, I think a correction is coming because the markets are over bought... I see metals finally making a move... Silver is way undervalued considering the amount needed for solar etc.. 

 

B/A

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9 hours ago, DWS112 said:

Since the beginning of the operation of the Monetary Department in mid-May, 11 million banknotes have been deposited in the equivalent of 110 billion Iraqi dinars and at the rate of 400 thousand sheets of cash per day and increasing continuously.

 

11 million banknotes = 110 billion dinar./

Roughly, on the average ~ 10,000 dinar per banknote.

 

It looks like (from the 110 billion dinar deposited banknotes), they don't have that many 25k notes left in the market......

 

IF that is the case, CBI must have done a great job in reducing the amount of dinar in circulation (of which 25k dinar notes form the biggest part of the total money supply in Iraq).

 

I have seen some gurus (esp. the loppers) saying ~ CBI never reduced the amount of dinar in circulation (as shown by the CBI's statistics ~ under currency in circulation); well....apparently they have been looking at the wrong statistics and at the wrong places.😂

 

All the notes collected (incl.25k notes), all the reductions of 'cash in circulation' are done by the banks in Iraq and (of course) these amount are reflected in CBI ~ as the bank reserves. That is why we never see reductions in CBI's 'currency in circulation'. 

:D

 

**Bank reserves are a commercial bank's holdings of deposits in accounts with a central bank, plus currency that is physically held in the bank's vault.

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