KTFA, X22 and More Late Thursday Night 9-12-19
Tivon: The Iocal Iraqi news media seems to be in conflicting contrast with the articles released to the international community that we (KFTA) read on this website in terms of time frames and opportunities as to when the reinstatement could occur.
We were told in March that during that particular period their fiscal policy status would be modified to amend laws (Financial Management Law) that would add purchasing power to their currency.
But they delayed all the way into late June. During June the Security Council removed Iraq from its sanctions list. Majid Al-Suri (Economic Expert) announced the printing of small category notes to pump into the local Iraqi market.
When July came we were especially elated with the possible time frame of parliament releasing the rate before August 3rd given that the extension was nearing to implement the new monetary fiscal policy. Not to mention the Islamic International Bank released the Master Cards to the citizens stating they can be used anywhere local and international.
Anyway aside from that it seems to me that these reports from Iraqi news media are for general objective agendas to curve the enthusiasm of Iraq's Monetary Reform Policy.
In other words what we get from Firefly- is totally different regarding how far along Iraq really is in educating their citizens.
Because the formality of Iraq's parliament had us under the impression that regardless of whether or not the "Visual Aid" of showing citizens the Coins & Fils is to be done next week they were supposedly intending that they would give purchasing power to their people before they start the second legislative session slated for this coming Saturday.
Don961: Gold earns $ 200 in months .. And an American billionaire betting on it
- 8 Hours Have Passed
Investors who gambled on gold this year won the bet. The precious metal in August alone earned $ 100, due to severe turmoil in global financial markets from trade wars and tension in the Gulf region and elsewhere.
Gold prices have also gained about 18 percent, or more than $ 200, since May, the month when the price of precious metal hit the lowest level this year at $ 1265.85 an ounce.
According to data from the World Gold Council during the second half of this year, central banks, which are expanding the printing of banknotes, were the biggest buyers of gold and gainers from investing in it.
Among the banks that have boosted their purchases and raised their gold reserves are Turkey, Russia, Kazakhstan, India, Iraq, Poland and Hungary.
This simply means that central banks no longer trust their monetary policies. With gold prices soaring, Russia's precious metal reserves jumped 42 percent last year to $ 109.5 billion, and gold is now the largest share of Russia's total reserves since 2000.
On the future of gold prices, US billionaire Mark Mobius believes that gold prices will continue to rise amid central bank policies aimed at reducing interest rates and facilitating monetary policies to avoid falling their economies in the mire of recession.
In an interview with CNBC, Mobius advises investors to put their money in gold. "Investors should put at least 10% of their money in gold," he said.
The price of gold is inversely correlated with the monetary mass.
Therefore, many investment experts believe that gold prices will not decline in the near future, unless there is a settlement of the trade war between Washington and Beijing, a complex war that continues to ignite and hit the repercussions of stock exchanges and other financial instruments such as bonds, which convert a large part of negative return.
In London, gold prices rose on Wednesday, on expectations that the European Central Bank will provide a new stimulus and cut interest rates, as it rose 0.5 percent to $ 1493.50 an ounce.
The heavy use of the dollar in the US economic embargo, which became a key foreign policy tool under President Donald Trump, has prompted many countries to reduce the dollar in their foreign reserves at their central banks and compensate for them in gold for fear of being targeted by the US embargo. This contributed to the high profitability of these countries during the two years.
Russia is among the countries that have benefited from the pressure of the US embargo, as it tended to buy gold and win the bet, with the price of the precious metal rising, Bloomberg reported.
According to the US agency, Russia has quadrupled gold reserves over the past decade, as part of a strategy to diversify foreign reserves and move away from the dollar.
\She pointed out that the move proved correct, as this action is beginning to bear fruit, as gold prices rose to the highest level in six years, as a safe haven.
"Russia has protected its macroeconomic stability through neutral instruments, so the dollar has been widely replaced by gold, a strategy that has brought billions of dollars to the Russian central bank in a few months," said strategist Vladimir Miklashevsky.
In a similar vein, a report by the World Gold Council said that the quantities of gold purchased by central banks in 2018 recorded record levels are the highest ever.
The report pointed out that the central banks bought last year the largest amount of precious metal since 1967, it bought 651.5 tons, an increase of 74% from 2017, where it bought 375 tons of gold.
`` The increasing geopolitical and economic uncertainty over 2018 has led central banks to increasingly diversify their reserves and focus their attention on the primary objective of investing in safe assets, '' the report said.
According to the World Gold Council figures on the world's reserves of precious metal, the average price of an ounce of gold rose from 1323.25 dollars recorded in March last year to 1427 dollars in July.
Central banks in the Middle East and North Africa (MENA) region have recently increased their purchases of gold by 10% and were able to reap profits from the increase, according to the council.
Experts say Gulf central banks' interest in increasing gold reserves has come too late, and most of the Gulf's gold reserves figures have not changed since 2010. This is because Gulf states peg their currencies to the dollar and invest heavily in US bonds.
There are unconfirmed data published by Russia Today on some Arab countries that have reaped profits from investment in gold, including Lebanon, which made a profit of $ 957 million in six months between March and September. Lebanon's gold reserves currently stand at $ 13.159 billion.
Algeria achieved profits of $ 579 million in the same period. Algeria's gold reserves are currently valued at about $ 7.965 billion. link
Courtesy of Dinar Guru:
Frank26 : ...they are now ready to show them pictures of the new small category notes...IMO the CBI is being very cautious. They have to be very careful.
Fractional banking is of great concern to the CBI because they do not want this reinstatement to fail with the citizens. They are not going to come out with the coins like we've been telling you.
But they are talking about the fils. The citizens need to understand what the fils are about...each dinar is worth 1000 fils...so let's not worry about the coins...
We Are Witnessing The Destruction Of The Old Economic System & A Birth Of A New One - Episode 1968a
X22 Report: Published on Sep 12, 2019
Prosecutions On Deck, This Is Just The Beginning, [DS] Pain Coming - Episode 1968b
X22 Report: Published on Sep 12, 2019