millionday] here is the gold news from cbi from today here we go >>>>>> CBI decided, "coined a variety of gold bullion" to sell gold to dealers and investors segments of Iraqi society, as he emphasized that "this action represents one of the tools of monetary policy to the Bank."
According to a statement to the CBI received / Iraq Press /, on Friday, a copy of it, he was "for the purpose of diversification means savings to the public and to provide large quantities of gold from Mnashye sober sold to dealers in gold, investors and society Bdinaralaraca,
decided the bank's board in consultation with the Committee on Economic Affairs SEC selections of gold bullion weights ranging between (5 g and 1000 g). "
The statement added that "the Bank began contracting procedures for gold bullion imported and then sold through the banking system," noting that "this action represents a monetary policy tools of the central bank."
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[millionday] note -- so this is part of the monetary policy -- smile
[millionday] tools for its success we would assume -- there are no tools for its failure -- smile
[millionday] In the view of economists that the entry to the World Gold Iraq is a positive case for the revitalization of the gold market deal in Iraq, especially as the gold market was not affected by the Iraqi gold to enter the United Arab Emirates and Turkey.
The Iraqi Central Bank revealed in (September 22, 2013) announced the arrival of its reserves of foreign currency and gold to about 80 billion dollars, while attributed to an increase in global oil prices, the reserve is expected to increase over the coming months.
The International Monetary Fund, it was announced, in (the 23 of March 2013), the financial assets preventive in the Development Fund for Iraq rose in 2012 to 18 billion dollars, and cash reserves of the central bank's hard currency to $ 70 billion, attributing the increase to the "revenue oil unexpected. "
[millionday] Financial experts confirmed that Iraq's stockpiles of reserve funds have covered liquidity over the past years, calling for the government to adopt alternative ways to cover the deficit, including recourse to the application of the secondary market policies that have been agreed with the government.
[traveler] whooop whoooop!!
[risk] millionday Do you believe Iraq has to be article 8 compliant to sell gold
[millionday] global market is always a good thing and also this announcement from the cbi shows that they are financially staging to enter the market
[millionday] globally they need to have their rate at a reality rate so they enter the market with stability
millionday] the price of gold can not be represented any other way but as a set market price --- economically it cant be done -- and they are gold backed
[millionday] disclaimer ::: i am not a gold market specialist --- smile
[millionday] i know that Iraq has used it to build their reserves and the sale is for that purpose -- the market and the gains you can make from the gold market -- it is a form of liquidity for the country and a tool to avoid inflation that is used
[MsDiva] so in order to enter the market they must have a reality rate does reality mean a rate better than 1166
[millionday] very interesting and with this announcement -- we would expect that a price would follow --- smile
[millionday] MsDiva yes -- it is the calculation of what the price of their currency is actually worth
[millionday] brb with more whooop whooop
millionday] Oil Ministry announced that it is proceeding with the completion of the technical and legal measures to establish two companies and two national oil Dhi Qar and Wasit. He said Oil Minister Abdul Karim and coffee in a statement received / Iraq Press /, a copy of which, on Wednesday, that "the ministry has taken all necessary measures and to instruct the agencies and departments concerned to establish the oil company,
[millionday] January: told the governor of Dhi Qar, Yahya Nassiri, told / Iraq Press / "We have been approved by the Ministry of Oil to transform the oil fields of Dhi Qar to private oil company to take over the management of the oil fields and the process of extraction and production Oil in the province. " Indicating that the administration "conservative obtained the approval of the ministry
millionday] as we see with the multiple reports we have seen the oil /energy meeting this saturday -- tomorrow should have a lot of content -- smile and also with their announcement that they are headed to the export market -- its all progress
[millionday] i would say if parliament is there we should expect najafi there as well following his meeting here and the end of the economic summit is tomorrow as well
[millionday] they have so much going on i think they should fear passing themselves mid-air -- i have always said we will see alot at once and it looks like we are seeing alot --- timing is everything with this event
[millionday] i loved when they called it an event smile
[millionday] let me make sure that i have not missed anything brb
[MsDiva] millionday I just wanted to know your thoughts on the cnbc about the currencies
millionday] i saw that and i believe they mentioned Argentina and a few more -- they did not give a complete list as far as i know -- does anyone know the other countries they listed ?
[Danalivin4HIM] what did they have to say about the currencies. I'm lost* *
[dovi] who is the cnbc
[rvorbust] millionday I heard Asia and Turki
[millionday] they announced on cnbc that some currencies were changing in value this weekend
[millionday] they have not given the whole list
[millionday] i think i would love if they would include Iraq -- we dont know at this point and they have made it a very bland announcement with out much exact info with it
Danalivin4HIM] very interesting
[Road_Kill] They don't normally announce currency changes do they?
[millionday] i was shocked by it and normally they dont ahead of time for the market --
Road_Kill] It will be interesting to see what this weekend brings
[naphtali] maybe because the markets are closed till Monday??
[millionday] i would expect that some of it must be misleading -- they do announce them on the UN operational rates ahead of time a couple days -- but the market is closed so over the weekend would not allow a run on the market -- very interesting
[Road_Kill] Very interesting indeed
[millionday] so we shall see what tomorrow brings and the weekend of course -- so i will see you all in a bit -- i have to cook --
[millionday] make sure and read the blog as well -- lots of updates that took a lot of work -- smile