“The Central Bank of Iraq (CBI) has reported a significant increase in its gold reserves...” A couple of things are going on here. When…Bush…failed…to locate and steal Saddam Hussein’s gold cache, the Iraqis patiently waited to repatriate their own gold hoard. This is what they have been doing. They regularly expand their gold
reserves yet I can find no records of any International gold purchases. That’s because they aren’t purchasing it, they already own it. They are incrementally reinserting their stash into the reserve, BECAUSE THEY NEED IT! Because they still do not have the needed revenue in hard liquid assets to pull off a currency revaluation. They are very resourceful and they are getting the job done but not as fast as we wish…
