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  "Value and Stability" - Wed. PM KTFA Thoughts/News 9/5/18

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Ssmith
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PostSubject: "Value and Stability" - Wed. PM KTFA Thoughts/News 9/5/18   Thu Sep 06, 2018 9:40 am

KTFA

Samson » September 5th, 2018

The Central Bank of Iraq strengthens its reserves of gold to 96 tons


5th September, 2018

The Central Bank of Iraq announced on Wednesday to strengthen its reserves of gold by (6.5) tons (six tons and a half tons) to become a total balance of gold 96 tons.

The central bank said in a statement received by Mawazine News, a copy of it, that "the strengthening of our reserves of gold (6.5) tons (six tons and a half tons) to become a total balance of gold 96 tons, as part of the policy of reserves management pursued by the bank in Diversification of investment assets".

He added that he "invested in the fall of precious metal prices to carry out the purchase of the additional quantity that was made in cooperation with the French Central Bank". LINK

The Central Bank of Iraq strengthens its reserves of gold

5th September, 2018

The Central Bank of Iraq announced the strengthening of its reserves of gold by (6.5) tons (six tons and a half tons) to become a total balance of gold 96 tons, as part of the policy of managing the reserves of the bank in the diversification of investment assets .

An authorized source at the Central Bank of Iraq said the bank had invested in the fall of precious metals to carry out the purchase of the additional quantity, which was carried out in cooperation with the French Central Bank . https://cbi.iq/news/view/836

Boxman » September 5th, 2018

Well that should add more value and stability to the asset backed currency..good find Samson

StephenMac63 » September 5th, 2018

(Hope Im not stepping on toes, older article but in the right direction)

United Nations calls for the implementation of Article 140 of the Iraqi Constitution

http://www.rudaw.net/mobile/arabic/kurdistan/100720177

Doglovr » September 5th, 2018

A Simple google search produced this paragraph stating HCL was RATIFIED on March 25, 2018. So perhaps that is the actual start of the 6 month deadline. Putting us at Sept 25. As Frank stated in his opinion it’s possible the door of HCL opens on Sept 5 with 1190 and allowing it to go from there. (Hoping I summarized his quote correctly) and maybe, IMO, completed by Sept 25 (the ratified 6 month date) with new rate.

https://www.lexology.com/library/detail.aspx?g=e3199f6e-9cfe-4b24-87fb-8bcf63ca5d03

“Most recently, the Iraqi parliament enacted the Law of Iraqi National Oil Company (the “Law”) on 5 March 2018 to establish a new form of national oil company ("NOC") as an entity enjoying financial and administrative independence and linked directly to the Council of Ministers; thus, distancing it from the Ministry of Oil whose role would become focused on planning and follow-up. It is reported that the Iraqi President has RATIFIED the Law on 25 March 2018. The Law does not enter into force until it is published in the Official Gazette, which is yet to be done (as we understand at the time of writing this article).”
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