FRANK26: "NO THEY HAVE A LOT MORE THAN THAT!!!"...........F26
More than 100 tons.. Iraq is the ninth largest buyer of gold in 2024
8/24/2024
Economy
Iraq ranked ninth globally among the top 10 countries buying gold this year. What is meant by gold is converting foreign currency reserves into gold, not the gold of goldsmiths and citizens.
Iraq bought 100 tons of gold this year, coming in ninth out of the top 10 countries buying gold this year, compared to 1,298 tons bought by Russia, as interest in buying gold is growing amid rising geopolitical tensions and economic fluctuations.
This comes as the precious metal hit an all-time high of $2,531.75 an ounce after breaking above $2,500 for the first time this month amid growing expectations that the Federal Reserve is close to cutting interest rates.
Bullion typically benefits from low interest rates, and central banks hold gold reserves because of its strong collateral, liquidity and yield properties.
Article Quote: "Alaq confirmed... there will be meetings held with the Federal bank and US Treasury at the end of this August"
What's the date today?
It's not far off. The last meeting he had was unannounced...I think him coming back to the Untied States, he's probably going to bring something he should have had done a long time ago.
Article: "Iraq is heading towards printing new paper currency"
They're not going to print new currency in the sense of triple zero notes...There's no reason for it. They were destroying perfectly good triple zero notes. They did a video on it...destroying money, making little pellets. They had a whole show on it.
Why would they be destroying good money?
Granted, if they filmed that they were damaged with ink on them, all these different things, I understand that. That wasn't the case. In 2018...they spent tens of millions of dollars on printing new currency... Bottom line is, why would they be printing triple zero notes at a time when inflation is low? That would create inflation. The whole idea is not to do that.
Article quote: "There's no intention to print new paper currency at the central bank..."
Iraq and America Resume Negotiations on Banking Sector in August 2024
Negotiations between Iraq and the United States regarding the banking sector are set to resume on August 26, 2024.
A delegation from the Central Bank of Iraq will travel to the United States to engage in discussions aimed at addressing issues in the banking sector. The talks are crucial for Iraq's economic stability and the future of its private banking institutions.
Background and Objectives
The delegation's visit to America is part of Iraq's efforts to reform its private banking sector.
The Central Bank of Iraq has contracted with Oliver Wyman International to develop a plan for restructuring the sector over the next six months.
This plan may include the merger of some banks or the revocation of licenses for others, reflecting the Iraqi government's commitment to improving the efficiency and stability of its financial system.
Ongoing Talks and Challenges
Iraq has been in ongoing talks with the US Treasury regarding dollar restrictions and sanctions on Iraqi banks.
Iraqi Foreign Minister Fuad Hussein has described these discussions as "very useful," indicating that they will continue to address pressing issues such as the list of Iraqi banks under US sanctions and the status of Iranian funds in Iraq.
The talks are seen as a significant step toward resolving the challenges facing Iraq's banking sector, particularly in light of the dollar shortages experienced last year after increased scrutiny by the New York Fed.
Significance of the Talks
The negotiations are crucial for Iraq, as they aim to address the restrictions on dollar transactions and the impact of sanctions on its banking sector.
Resolving these issues would not only stabilize Iraq's financial system but also improve its global economic relations.
Moreover, the talks signify a collaborative effort between Iraq and the US to foster better economic ties and address mutual concerns in the banking sector.
A delegation from the Central Bank of Iraq travels to the United States of America to resume negotiations on the banking sector.
A source familiar with the Economy News told “Economy News” that a delegation from the Central Bank of Iraq will start its negotiations with the US side on the current 26th of Aug, in America.
He added that the central bank has moved to sign a contract with Oliver Wyman International to present a plan on reforming the private banking sector, over the next six months.
He pointed out that the plan proposed to be submitted includes the merger of some banks or the cancellation of the license of some banks.
Now you all have to factor in all the money that will be coming in once the Iraqi Dinar is released upon the world.
Because I have always told you all that this will permanently put you on the new timeline where poverty will be nonexistent.
And that everything you could possibly want will be provided because we are going back to the 1955 prices.
As I have already told you all 44 states have already made precious metals legal tender.
So this means taxes by default will be a thing of the past because you will no longer be purchasing things with the Federal Reserve Notes that allows you to be subject to the rules of the old system has caused endless poverty. This is why things like Basel 3/4 are important because it will end the HOA monopoly on homeownership policies.
The gold standard alone can do that without it.
Anyway there's a lot I can say but you get the picture.
