News, Rumors and Opinions Thursday 5-20-2021
KTFA:
Don961: Iraq maintains its fifth place in the Arab world and the 38th in the world in terms of gold reserves
Thursday 20 May 2021 Baghdad: Farah Al-Khafaf
At a time when the Central Bank of Iraq seeks to enhance its global share of gold, Iraq has maintained its fifth position in the Arab world and 38 in the world in yellow metal reserves, according to the latest statistics of the World Gold Council, with a reserve of 96.4 tons (8.1 percent of other hard currency reserves).
In this regard, banking expert Abdul-Hussein Al-Mandhari told Al-Sabah: “After the hypothetical meeting recently held between the governor of the Central Bank and the management of the World Gold Council, the need to enhance Iraq's possession of its gold reserves,” indicating that the aim of this step is “to ensure stability The exchange rates of the Iraqi dinar after its depreciation against the US dollar as a result of changing the exchange rate.
Al-Mandhari added, "The fluctuation of the price of the dollar and oil globally in recent months. He called on the Gold Council to offer to sell Iraq an additional amount to strengthen the strength of its dinar, because most of the dinar reserves are in dollars, and most of them are invested in US Treasury transfers, and the value of the dollar has recently decreased. Gold has the advantage of being quick to liquefy global currencies in the event there is a desire to sell it to meet any deficit in financing, as well as the absence of any risk if some dollar amounts are converted into gold.
Al-Mandhari added, "The fluctuation of the price of the dollar and oil globally in recent months. He called on the Gold Council to offer to sell Iraq an additional amount to strengthen the strength of its dinar, because most of the dinar reserves are in dollars, and most of them are invested in US Treasury transfers, and the value of the dollar has recently decreased. Gold has the advantage of being quick to liquefy global currencies in the event there is a desire to sell it to meet any deficit in financing, as well as the absence of any risk if some dollar amounts are converted into gold.
The former director of Al-Nahrain Islamic Bank pointed out that “Iraq is currently ranked fifth in the Arab world, after Saudi Arabia, Lebanon, Algeria and Libya, in gold reserves.
The World Gold Council had expressed its willingness to provide support in case it wanted to increase the share of gold for Iraq.
According to a central bank statement, “The Governor of the Central Bank of Iraq, Mustafa Ghaleb, held a meeting with the World Gold Council at their request,” indicating that “the meeting dealt with a number of issues, the most prominent of which was technical support and training files, in addition to discussing the increase in the foreign reserves of the Central Bank. It has been achieved after the implementation of recent reforms in the work of the bank and the banking sector. ”The World Gold Council also provided full support to the Central Bank of Iraq in case it wished to increase the share of gold for Iraq.
Gold prices rose during the past 48 hours to their highest level in more than three months, as the appeal of the precious metal was enhanced by wary investors with the decline in US Treasury bond yields and the decline in stock prices due to inflation concerns.
Gold rose in spot transactions 1.3 percent to $ 1866.50 an ounce, its highest level since the first of last February.
And US gold futures rose 1.6 percent to settle at $ 1867.60 an ounce.
"There is an escape to safety from the stock market ... the expectations are that we will continue to see a much stronger trend for inflation numbers from now on," said Jeffrey Sica, founder of Circle Square International Investments.
He added, "Treasury yields will remain stagnant, and that will further increase the likelihood that investors will choose gold."
Stock markets rally stalled as demand for riskier assets was hit by inflation pressures. Data last week showed that US producer prices rose more than expected in April.
The yield on the US benchmark 10-year Treasury bonds decreased, which reduces the opportunity cost of holding gold that does not yield a return.
Investors are now awaiting the minutes of the most recent meeting of the Federal Reserve to be released on Wednesday for more clues on the US central bank's monetary policy, and any comments on inflation. Gold is seen as a hedge against inflation.
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Holly: Rv news:
There is a big push to get the final release of the Dubai 1-3 done this week. I am told the window is now till the end of the month.
There are 800#s and emails going out. If you bought any currency your information was recorded. All of us in these rooms have been vetted. They know who you are.
You must bring your physical currency in to a redemption center so anyone saying there is not one, is mistaken.
Not all countries have redemption centers so that could be the confusion.
Never, ever give up!
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Courtesy of Dinar Guru
Walkingstick [via Guru Frank26] Question: [Everyone but Mustafa the governor [CBI] is talking about the exchange rate staying that way for the next 4 years?] Liars!...you think I care about this "garbage"? These guys who have nothing to do with the monetary reform...these Iranian influence jerks that are trying to change stuff up you know very well they have no idea of what's going on. If you get Mustafa and he talks to you then it's something for you to consider.
Frank26 Something is happening with the Vietnamese dong...I would advise you to watch their central bank...pay attention to their GDP [Gross Domestic Product]. The GDP is a determinant of what the value of their currency could be...Something has happened with the Vietnamese dong inside of Vietnam...notice what's going on with their stocks. And I want you to notice what's going on with their imports and exports...
Bix Weir
ALERT! Banks Failing, Silver's READY & Cryptos Survive Another ATTACK!!
May 20, 2021
We all thought there would be CHAOS around this time and the Universe has not let us down!
The Fed's "Reverse Repo Operations" have just kicked into HIGH GEAR right before the Heads of the Too-Big-To-Fail banks are scheduled to testify on May 26/27th.
Silver seems ready to TEST $30 again but this time ALL EYES ARE ON THE CRIMINAL. And - The Cryptos have SURVIVED another attack from the Criminal Riggers at the US Treasury and Banking Cabal.
LOTS GOING ON!!