News, Rumors and Opinions Sunday Morning 11-6-2022
KTFA:
Samson: Iraq is the largest purchaser of gold in the second quarter of 2022
6th November, 2022
Today, Sunday, the World Gold Council announced that Iraq is the country that is the largest purchaser of the yellow metal for the second quarter of 2022, while maintaining its 30th rank in the world among the largest countries in possession of gold reserves
The council said in its latest schedule for the month of November 2022, which was reviewed by Al-Iqtisad News, that "Iraq jumped to the 30th rank after it was the largest purchaser for the second quarter of the current year 2022, after purchasing 33.90 tons of gold, bringing its reserve balance to 130.4 tons, which is Equivalent to 9.4 of the rest of his other reserves
He added that "Turkey was the most buying country for gold for the third quarter of 2022, with a rate of 31.17 tons, bringing its reserves to 488.9 tons and reaching the 13th rank, while Egypt was the largest buyer for the first quarter of 2022 with 44.9 tons
The United States of America still leads the rest of the countries with the largest gold possession in the world, at 8,133 thousand tons, followed by Germany, 3,355 thousand tons, and then Italy, 2,451 thousand tons, while the Lao People’s Republic ranked 100, with a rate of 900 kilos, preceded by the Republic of Cape Verde with 1 tons as well
On June 27, Iraq announced the purchase of new quantities of gold, amounting to approximately (34) tons, an increase of 35% over what was in its possession
It is noteworthy that the World Gold Council, which is headquartered in the United Kingdom, has extensive experience and deep knowledge of the factors that cause market change, and its members consist of the largest and most advanced gold mining companies in the world LINK
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Samson: Iraq ranked first in the most importing countries from Jordan in 10 months
6th November, 2022
Today, Sunday, the Amman Chamber of Commerce announced that Iraq ranked first and for the third month in a row, with the most importing countries during 10 months of the current year 2022
The Chamber said in a statement seen by "Al-Iqtisad News", that "during the past 10 months of the current year 2022, goods and commodities were exported to Arab and foreign countries, amounting to about 742 million dinars, compared to 599 million dinars for the same period last year
And she added, "Exports were distributed in terms of value during the past 10 months of this year to Iraq with a value of about 188 million dinars, Egypt 98 million dinars, Saudi Arabia 94 million dinars, the UAE 76 million dinars, then India with a value of 33 million dinars
The Jordanian dinar is equal to about 70 US dollars
And they pointed out that "the value of exports of foreign products (re-exports) amounted to about 320 million dinars, industrial 187 million dinars, agricultural 143 million dinars, then Arab products with a value of 60 million dinars, and the rest for many other different products
And she indicated that "the Amman Chamber of Commerce issues certificates of origin for agricultural and animal products and raw Jordanian natural resources, for foreign goods that are being re-exported, and for foreign goods purchased from the local market under specific conditions LINK
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Iraq and the Netherlands discuss signing a memorandum of cooperation in the field of combating terrorism LINK
Iraq and Greece stress the importance of working to develop economic relations LINK
The President of the Emirates calls the Sudanese and discusses the overall bilateral relations between the two countries LINK
The Minister of Defense and his Saudi counterpart affirm the depth of bilateral relations between the two countries LINK
The Iraqi Foreign Minister briefs his Jordanian counterpart on political developments and features of the next stage LINK
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Samson: On charges of forgery and "stealing the century"... Recruiting an Islamic bank manager and freezing banking activities for another
6th November, 2022
The anti-crime office in Mahmudiya district, south of the capital, Baghdad, issued a summons order against the director of a private bank, while the Central Bank of Iraq suspended another bank for its involvement in "the theft of the century".
According to a document obtained by Shafak News Agency; A summons order was issued against the Chairman of the Board of Directors of Spectrum Islamic Bank on charges of forging an official document.
Another document, seen by Shafak News Agency, showed that the Central Bank issued an order to stop the activities of Al-Wad Islamic Bank due to its involvement in the "stealing of the century" case.
The Iraqi judiciary had previously issued arrest warrants against a number of accused of "theft of the century", confiscation of movable and immovable funds, and seizure of real estate belonging to them and their families. LINK
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Courtesy of Dinar Guru
Mnt Goat Article: "IS IT TIME TO CHANGE THE EXCHANGE RATE?" Quote: "...go to the program to delete the three zeros so that the dinar became a respectable and strong currency and an actual strategic and national stockpile that is better than the dollar and gold together." Alleluia! Alleluia! Yes, this...is exactly what we want to hear. I do not think they will ever tell us directly they will reinstate the dinar but we know if they do the project to delete the zeros they will have to reinstate it. Plus the CBI told us this is the next step way back in 2011 when the told us the overall process of how to get the dinar back to FOREX. By the way this is the second article already in a week that they mentioned the project to delete the zeros….
Frank26 Article: "Al-Sudani resolves the position on the re-change of the dollar exchange rate and calls the term “corruption pandemic” Quote: "And on the financial budget for 2023, the Prime Minister announced that he "directed all ministries today to prepare the 2023 budget and determine its priorities, as we are keen to present the budget as soon as possible." WHICH ALSO MEANS PRESENTING THE NEW EXCHANGE RATE AS SOON AS POSSIBLE.
Breaking News! Iraqi Premier to Raise Dinar Value! Central Banks Buy Record in Gold! US Rep Charged!
Dr. Kia Pruit: 11-5-2022
So much is going on in the geopolitical arena today, but we are encouraged, because things are working in our favor! It appears that the IQD could revalue soon. It also appears that the new gold-backed United States Note will be soon announced.
Alasdair Macleod: Credit Suisse Rescue Catastrophic! Banking Sector on the Verge of Bankruptcy
As Good as Gold: 11-5-2022
In this latest interview, Brian and Darryl Panes from As Good As Gold Australia interview Alasdair Macleod, Advisor to AGAGA. Has the 'economic hurricane' that Jamie Dimon referred to hit our shores?
The RBA continues to stick to their word, increasing rates in an attempt to curb inflation, up 0.25% - 2.85%. Inflation here in Australia is now at 7.3%, and Australia's debt to income ratio now stands at 185% - a new record.
As cost of living expenses continue to escalate in the US, the FED is about to confirm another rate hike. So where to from here? Will the FED continue to tighten? How long before they pivot and introduce another bout of QE?
Further rises in interest rates will eventually break the economy, and contracting bank credit will put banks at risk.
With commodity prices, generally subdued, gold and silver were quiet backwaters, but the technical situation is becoming potentially explosive - what does this mean?
Where to with gold and silver from here? Physical gold sales worldwide are up 28% YOY - these are World Gold Council numbers.
Saudi Arabia wants to join BRICS. The Egyptian Central Bank Govenor wants the Pound backed by gold. There's wars, inflation running rampant, and the world is in economic chaos - it's a perfect environment for gold.