.KTFA Members "News and Views" Saturday PM 2-2-19

2/2/2019
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KTFA:

Samson:  The House of Representatives sends the Budget Law to the Presidency for approval   LINK

GodsServant:  Wow sign and Publish

LadyHawk:  Thanks Samson, this is good news! We shall soon see if a new rate will be reflected when the budget gets signed by the president

JodyS:  How many days does the President have to approve and send to the Gazette?  

DELTA:  15 DAYS BUT HE DOESN'T HAVE TO WAIT 15 DAYS TO SIGN IT....

Moparman:  I believe that  has said that the budget is not in need of the RV, but the RV is in need of the budget. I hope I said that right.  

JJimmiyJJ:   actually,  I remember it as "The RV/RI isn't in need of the budget,  but the budget is in need of the RI/RV".  Thus, the budget being fully implemented and contracts being executed is a good sign for our investment
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ChrisC:  Delta, or anybody else that may know, I have been watching the forum a fraction of what I usually do due to some real time crunch on me getting a house finished.  If somebody has said this then I apologize for re-asking.   If they did this electronically on Dec 30, as Frank has said down to the minute of the event, how long do they have under IMF guidelines until they are forced to reveal it to the world?

Jay:  Hi Chris. Short answer. IMF has no guideline for WS's Firm, contract. That's between  Iraq & WS's Firm. The only time is when the CBI changes the rate. They "MAY" have 3, 7, 10 or 30 days to show the reinstated rate on the CBI's website. THAT has to do with the central bank showing a change in rate and that is regulated by the IMF. A companies' contracts are not regulated by the IMF in the way you are asking.  Electronically dropping the 3 zeros is NOT PHYSICALLY dropping the 3 zeros. If it were the 30 days has ended and we would have exchanged. Contact deadlines can be 30 days or way longer. Frank asked us not to get hung up on time frames with regards to these contracts. But I really don't have a clue. Just this opinion. So there is DAT.  IMO

ChrisC:  Thanks Jay.  Like I said, I haven't had the time that I usually have to clearly focus on stuff here but what is that Frank said happened on Dec 30 at 12:30 (I think that is right)?  I thought he WAS talking about the CBI dropping the three zeros electronically and that is how they were making these contracts with everyone. 
 
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DELTA:   ASSOCIATION OF EXCHANGE COMPANIES IN IRAQ ASPIRATIONS AND CHALLENGES    https://www.sotaliraq.com/     

MilitiaMan: Thank you delta for this one. It is clearly one to grab my attention, as I presume many others as well. They are using NGOs to help in the implementation of going to a market economy.

A new market economy through the private sector will need foreign currency exchanges. It starts off with telling us they are lifting (imo) currency restrictions whereby, ex-changers can move massive amounts of cash.

They will be using international companies of the likes of Western Union and MoneyGram. In my opinion, they won't be doing that with a program rate.

They will be doing it imo with the new currency that the CBI imo has recently purchased. It would not surprise me if they are now in the process of showing those with a need to know of what is coming to the world in the form of new smalls already and we are next.

The money ex-changers will have such a need to know now and may have the new in hand, just not shown to all yet.   ` imo~ MM 

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Samson:  The House of Representatives sends the Budget Law to the Presidency for approval   LINK

MilitiaMan:  Tomorrow is the beginning of the week.. The money ex-changers are going to need the rate, that rate also precedes the budget.. They clearly have this timed.. Today the articles about Jordan, money ex-changers with NGSs to help facilitate the implementation of the new.. All very well timed.. It won't stop now nor fail imo.. ~ MM


Samson:  A Gulf state buys 15 tons of gold from Venezuela

2nd February, 2019

A source in the Venezuelan capital Caracas said a Gulf state plans to buy up to 15 tons of gold from Venezuela in euros. "The Venezuelan Central Bank is planning in the coming days to sell about 15 tons of gold to the United Arab Emirates," the high-level source said without naming him.

The Venezuelan Central Bank on January 26 had sent a chartered plane carrying 3 tons of gold to the UAE.

This comes at a time when the United States continues to pressure economically, politically and militarily against Venezuela and tighten sanctions on it, and support the Venezuelan opposition to carry out a coup against President-elect Nicholas Maduro.  LINK


Samson:  Russia is the most buying gold in the list of top metal owners

2nd February, 2019

What is the largest gold mining country in the world market ?, a question that rarely carries a noticeable change. The picture has remained constant for the top 10 list globally but has slightly differed on the Arab level

According to the World Gold Council report for January, the total reserves of global central banks of gold amounted to 33.872 thousand tons during the current month, compared with 33.695 thousand tons recorded last November

The United States remains top of the list of 100 countries and destinations around the world, with the top 10 remaining unchanged

But at the same time, Russia was the only country on the list of the top ten, which saw a strong increase in the size of gold it owns, while China and Switzerland recorded a slight increase in possession of the metal

For the central bank purchases of the precious metal in 2018, which saw an increase of about 74% to be the biggest purchase of an annual pace since 1971

The top 10 gold possession states

With regard to the list of the top 10 countries of gold reserves, there were no changes with the survival of the IMF in the top ten list

The United States topped the list with 8133.5 tonnes, or 73.9 percent of the total reserves of the world's largest economy

Germany is second with 3369.7 tonnes of gold, accounting for 69.2 percent of Bundesbank's total reserves

While the International Monetary Fund occupied the third position by owning about 2814 tons of precious metal within its international reserves

For the fourth and fifth places, Italy and France respectively have 2451.8 and 2436 tonnes of gold equivalent to about 65.5% and 59% of the total global reserves owned by Rome and Paris, respectively

Russia's total gold reserves stood at 2066.2 tonnes, or 17.6 percent of the world's total. Moscow maintained its position in the sixth place on the list, although it raised the holding by about 30 tonnes

China ranked seventh with 1842.6 tons of gold, accounting for 2.3% of its total global reserves, with a slight increase in its gold volume of 0.3 tons

Switzerland, with a total of 1040 tonnes, accounted for 5.1 percent of the Swiss Central Bank's total reserves after boosting its holdings by 0.1 tonnes

Japan ranked No. 9 with 765.2 tons, or 2.4% of its total global reserves, while the list was dominated by the Netherlands with 612.5 tons, accounting for 65.5% of its international reserves

The IMF is the only institution in the most gold-rich category, but excluding it, India is on the top 10 list with 592 tonnes of yellow gold, which accounts for 5.9 percent of New Delhi's global reserves

Arrangement of the possession of the Arab States of precious metal

Among the Arab countries most in possession of gold, the list saw minor changes, with Jordan out of the list while Morocco advanced 4 Arab centers

Saudi Arabia, the largest Arab country with gold, holds 323.1 tonnes of metal, or 2.4 percent of its total reserves, but ranks 16th in the world

In second place, Lebanon occupied 286.8 tons of gold, or 20.2% of its total international reserves, but ranked 18th in the world

Algeria ranked third in the Arab world and 24th in the world, with 173.6 tons or 7.3% of its total reserves around the world

In fourth place, Libya won 116.6 tons of gold, or 5.4% of its global reserves, but ranked No. 32 in the world, followed by Iraq with 96.3 tons or 6.4% of its total reserves, while it ranked No. 37 globally

In terms of the sixth and seventh positions, Kuwait and Egypt accounted for 78.5 and 78.3 tons of gold, or 2.7% and 7% of their total global reserves

Kuwait and Egypt are ranked 38 and 40, respectively, when compared globally

Qatar ranked third with 31.3 tons of gold, or 4.2% of its global reserves, but ranked 54th globally

Syria and Morocco ranked ninth and tenth with 25.8 and 22.1 tons of yellow metal, accounting for 5.7% or 3.6% of their total global reserves

Syria ranks 55th in the world, while Morocco ranks 57th globally

The UAE ranks 11th in the world and 75 in the world with 7.5 tons of gold or 0.3% of its global reserves

Tunisia ranked 12th in the Arab world with 6.8 tonnes or 5.4 percent of the total reserves, but ranked No. 79 globally

While Bahrain and Yemen came in the last two positions in the Arab list to occupy the rankings 13 and 14, respectively, with 4.7 and 1.6 tons of gold, or 7.6% and 1.2%, respectively

Bahrain ranks No. 83 globally while Yemen ranks 95th globally   LINK