Tishwash: Iraq is the largest buyer of gold for the second quarter of this year
The World Gold Council announced today, Saturday, that Iraq was the world’s largest buyer of gold during the second quarter of 2022.
The council said in a tabular report seen by Shafak News Agency, that “Iraq bought 33.97 tons during the second quarter of the current year 2022, bringing its balance to 130.3 tons, followed by Turkey by buying 26.60 tons, then Uzbekistan by 26.44 tons, and then Kazakhstan came By 15.79 tons, then India came by 8.39 tons.
He added that “the most countries selling gold during the second quarter of the current year 2022 was Germany at 3.36 tons, followed by Mongolia by 0.80 tons, followed by the United Arab Emirates by 0.27 tons. link
Tishwash: The appearance of Muhammad Salih: Currency and gold reserves .. Covering the country’s short-term foreign debts
The financial expert, advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that the currency and gold reserves are a cover for the country’s short-term foreign debts.
He told the National Iraqi News Agency ( NINA ): The efficiency of these reserves is seen with various indicators, such as the ratio of foreign reserves coverage of locally sourced cash, or the ratio of foreign reserves coverage of the country’s foreign debt and its short-term due services.
Saleh added: These indicators all confirm today that the country’s foreign exchange reserves, which amounted to about 85 billion dollars, including cash gold, are at a high level of efficiency and represent real monetary stability for the country.
He explained: The country’s reserves are managed according to the internationally approved standard investment guides and in various major existing currencies, and are invested in the best international financial instruments with high credit ratings, low risks, and are considered one of the actions of the country’s foreign monetary policy. link
Michael Cottrell I think right now it could happen at any time for any reason…we are at the right stage…the right time…and the right players are stepping up to the plate.
Frank26 Why are they printing another 3-zero note? When you look at it from the outside in, yeah it is rather confusing...the 20K’s #1 priority is to suck in as many 3-zero notes as possible…a 20K note makes more sense than a 25K note especially when deleting the zeros …IMO the CBI is prepared to educate the citizens on monetary reform. IMO these 20Ks were printed long time ago…
Samson: A record drop in Brent crude in the third quarter.. Prices fell 23% to $ 87.9
1st October, 2022
Oil prices fell in a session, on Friday, in volatile trading, but it achieved its first weekly gain in 5 weeks, supported by the possibility of the OPEC + group agreeing to reduce crude production when it meets on the fifth of October
Brent crude futures for November, which expired on Friday, fell 53 cents, or 0.6%, to $87.96 a barrel. The most active December futures contract fell $2.07 to $85.11 a barrel. US West Texas Intermediate crude futures fell $1.74, or 2.1%, to $79.49 a barrel upon settlement
Brent and West Texas Intermediate each rose more than a dollar earlier in the session, but fell back on news that OPEC oil production rose in September to its highest level since 2020, exceeding the increase pledged by producing countries for this month, according to a Reuters survey. Brent and West Texas Intermediate rose 2% and 1% on a weekly basis, to record their first weekly rise since August, after hitting their lowest levels in 9 months this week
Oil prices rose, supported by the dollar’s decline earlier in the week from its highest levels in 20 years. The decline of the dollar makes oil denominated in the US currency cheaper for holders of other currencies, which improves demand
The market had received support from the possibility of the Organization of Petroleum Exporting Countries “OPEC” and its allies cutting production quotas at their meeting to be held on the fifth of October
Analysts expect production cuts as demand concerns related to a possible global economic recession and higher interest rates weighed on crude oil prices
Brent and WTI prices ended the third quarter with significant declines of 23% and 25%, respectively LINK
Iraqi Dinar update for 09/30/22 – Could the exchange rate change earlier than later
Pimpy’s investment Chat
The Bank Of England Just Did The Unthinkable – Is America Next?
Sean Foo: 10-1-2022
The UK economy is on the brink of collapse and the Bank of England has decided to print money. They have started QE infinity, pledging to buy as many bonds as possible to save the markets.
This will only keep inflation high while the British economy is headed towards recession. Here’s what you must know about the bond crisis that almost destroyed British pension funds and triggered a pivot.
Could this also happen in the United States?