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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Militia Man & Crew An economic expert explains the importance of Iraq's gold reserves

    Rocky
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    Militia Man & Crew An economic expert explains the importance of Iraq's gold reserves Empty Militia Man & Crew An economic expert explains the importance of Iraq's gold reserves

    Post by Rocky Sat Sep 23, 2023 6:33 am

     
     

    Time: 09/22/2023 09:15:57

    Militia Man & Crew An economic expert explains the importance of Iraq's gold reserves Clip_image003
    {Economic: A-News} An economic expert explained the importance of gold in the reserves of the Central Bank of Iraq.
    Salah Nouri told {A-News} agency, “The gold reserve is a cover for the national currency in addition to the dollar and the euro, and the Central Bank of Iraq, like the rest of the central banks in the world, invests in gold, with the aim of diversifying the reserve and obtaining returns, by buying and selling in global markets. The first of which is the London market.
    He referred to "measuring the central bank's reserve, that is, the assets it owns, which are gold, the dollar and euro currency, and US Treasury bonds as investments."
    Nouri continued, "As for international transaction settlements, they are mainly made in the dollar currency, and then in the euro currency to a lesser and limited extent."
    The World Gold Council showed in its report this September that gold reserves in Arab countries amounted to 1,515.1 tons, and Iraq ranked fourth with 132 tons after Saudi Arabia, Lebanon, and Algeria.
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    Iraqs gold is a cover for the national currency in addition to two other global currencies that are the USD and the EURO, along with US Treasury Bonds, etc.. The main point gold is a cover for the currency.  The 132 tons of gold may not be the whole story, as they have in ground resources that may be included in value estimates when itcomes to Iraqs expected international exchange rate to come. With Iraqs ability to tap into massive stores of oil, gas, associated gas, in ground gold deposits, massive amounts of varied sttategic minerals, tourism, taxes, tariffs, fees, customs, etc., at the borders will also bring added value to the currency..  Iraq should have no trouble supporting her new exchange rate, what ever that may be.. imo ~ MM 

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