Central Bank of Iraq 2011 Financial Statement

[Screaming Eagle]

Central Bank Of Iraq 2011 Financial Statement

http://www.cbi.iq/documents/financia...ment2011_f.pdf

[cowpoke]

So they only have about 15 lbs of Gold?

[cowpoke]

Man, only 2 views.. Crazy how an Atheist and a Christian see value in this info, is every one dead? Are we really in a matrix? Is SE really real? Crazy..

[HumbleGenius]

Man, only 2 views.. Crazy how an Atheist and a Christian see value in this info, is every one dead? Are we really in a matrix? Is SE really real? Crazy..

You finally figured it out. This is just one of many logon names I use. I have about 5,000 others. There is no CBI, WARKA or ISX. Thanks for all the money you have sent me.

[Screaming Eagle]

So they only have about 15 lbs of Gold?

As of Dec 31, 2011 they had 348,,808,000,000 gold in IQD at 1170 rate and a price of $1574.5 per troy oz.

348,808,000,000 IQD \ 1170 rate = $298,126,495.73

$298,126,495.73 \ $1574.5 oz. = 189,346.774 oz.

189,346.774 \ 12 oz per lb. = 15,778.8978 lbs of gold or ~ 7.89 short tonnes

There has not been a significant change in gold stock since 2003 however the value has increase because of the increase in the price of gold.

[IRAQISTEVE1]

189,346.774 \ 12 oz per lb. = 15,778.8978 lbs of gold or ~ 7.89 short tonnes

SE..... Would that be a typo?? 12 oz per lb?? Or am I mis-understanding something??

Just curious, Thanks!

[Screaming Eagle]

189,346.774 \ 12 oz per lb. = 15,778.8978 lbs of gold or ~ 7.89 short tonnes

SE..... Would that be a typo?? 12 oz per lb?? Or am I mis-understanding something??

Just curious, Thanks!

"Gold and other precious metals are usually weighed in the Troy weight system. The system used in the US is called the avoirdupois weight system or (avdp) where sixteen ounces equals one pound. A pound (avdp) is equal to 1.21528338 Troy pounds. One Troy ounce of gold weighs 1.0971377 ounce (avdp) and there are 12 Troy ounces in one Troy pound and only 0.822853347 pounds (avdp) in a Troy pound".

Read more: http://wiki.answers.com/Q/How_many_o...#ixzz1zb8vu8da

[Screaming Eagle]

189,346.774 \ 12 oz per lb. = 15,778.8978 lbs of gold or ~ 7.89 short tonnes

SE..... Would that be a typo?? 12 oz per lb?? Or am I mis-understanding something??

Just curious, Thanks!

"Gold and other precious metals are usually weighed in the Troy weight system. The system used in the US is called the avoirdupois weight system or (avdp) where sixteen ounces equals one pound. A pound (avdp) is equal to 1.21528338 Troy pounds. One Troy ounce of gold weighs 1.0971377 ounce (avdp) and there are 12 Troy ounces in one Troy pound and only 0.822853347 pounds (avdp) in a Troy pound".

Read more: http://wiki.answers.com/Q/How_many_o...#ixzz1zb8vu8da

[Kickabuck]

There has not been a significant change in gold stock since 2003 however the value has increase because of the increase in the price of gold.

That's one way to say it, but another way is, the price of gold hasn't really changed, it's the value of fiat that has changed.

Another way is, fiat was thrown out by Marsellus. And even another way is, fiat was thrown out of a window by Marsellus because of you.

[IRAQISTEVE1]

Ahhhhhhhhh!!!! I knew there was a logical explaination. SE, you know stuff:)

Thanks for the reply, I learned something new today.

Should I dump my 2 Mil Dinar yet?? Save it for wallpaper?? Wipe my arse with it?? Looking for suggestions, been around for about 5 years with this worthless toilet paper and quite frankley, I'm sick and tired of it.

I can afford to lose my 2 Grand or so I spent on it, mentally I wrote that off a year or two ago. I'm just mad at myself for getting involved in the first place.

I have learned way more about Iraq in the last 5 years than I ever intended or wanted to..

Thanks, SE

[calstar]

Travelex steve Travelex lol

[cowpoke]

As of Dec 31, 2011 they had 348,,808,000,000 gold in IQD at 1170 rate and a price of $1574.5 per troy oz.

348,808,000,000 IQD \ 1170 rate = $298,126,495.73

$298,126,495.73 \ $1574.5 oz. = 189,346.774 oz.

189,346.774 \ 12 oz per lb. = 15,778.8978 lbs of gold or ~ 7.89 short tonnes

There has not been a significant change in gold stock since 2003 however the value has increase because of the increase in the price of gold.

Thanks for the clarification S.E.. I was reading the per 1 Million Dinar number conversion incorrectly.
I notice on page 25 Gold coins at CBI vault 1,377 in 2011 up from 423 in 2010, Is that figure also in a million dinar amount or is that a literal coin amount?

[Screaming Eagle]

Thanks for the clarification S.E.. I was reading the per 1 Million Dinar number conversion incorrectly.
I notice on page 25 Gold coins at CBI vault 1,377 in 2011 up from 423 in 2010, Is that figure also in a million dinar amount or is that a literal coin amount?

It is the value of the gold coins in the vault expressed in millions of IQD.

[cowpoke]

Thanks, Gee Wizz, I can see why removing some ZEROS would make things easier..

[Screaming Eagle]

Ahhhhhhhhh!!!! I knew there was a logical explaination. SE, you know stuff:)

Thanks for the reply, I learned something new today.

Should I dump my 2 Mil Dinar yet?? Save it for wallpaper?? Wipe my arse with it?? Looking for suggestions, been around for about 5 years with this worthless toilet paper and quite frankley, I'm sick and tired of it.

I can afford to lose my 2 Grand or so I spent on it, mentally I wrote that off a year or two ago. I'm just mad at myself for getting involved in the first place.

I have learned way more about Iraq in the last 5 years than I ever intended or wanted to..

Thanks, SE

Its a learning process. You have 5 years of experience holding cash dinar. What has the experience yielded and what has cash dinar yielded you in 5 years.

[IRAQISTEVE1]

Its a learning process. You have 5 years of experience holding cash dinar. What has the experience yielded and what has cash dinar yielded you in 5 years.

Well, the cash Dinar has yielded absolutley ZERO!! The experience has brought me back to reality over the years I.E. no such thing as a free lunch, you don't get something for nothing and last but not least............YOU CAN'T POLISH A TURD!!!