Gold has become one of Iraq’s top exports despite there being no gold deposits.
Last year, it exported nearly $8bn worth of gold to Turkey alone.
So what is the secret?
Al Jazeera’s Osama Bin Javaid reports from Baghdad.
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#Iraq
Jerusalem is the undivided capital of Israel and UAE Bahrain Egypt Saudi Arabia support it ☺️☺️☺️☺️☺️
@Saima Riaz please look at his profile.. he is just troll..a bot
@Saima Riaz Are you seriously that evil?
Troll alert
@Familyacount TV yes written in Bible new testament book of revelation
@Saima Riaz Show me where?
Hello iraqis
Hello modis…
Gold is gold… they are just trying to get over on people who cant afford top notch machinery.
Gold purity is pretty important for electronics applications, often times requiring 99.999%. For jewelry though, gold purity isn’t particularly important with impurities often being added intentionally to add strength.
What do you mean
Invest in weapons manufacturers since wars will not stop and u get guaranteed returns too 💰😁
Wrong
True with Biden Administration in US , We can expect more wars
Keep your gold people.
Most of its already taken
Keep your gold and make it a means of transaction! Its the best currency in the world!
Mohammad had a Boyfriend 😉
@Aedin Ridmash but he is muslim by religion, doing this activity is not done in 100000 years of Indian history,so why indians will do this now,as prominent hindu law is going to made
@Mister Gorgeous Bro are you actually kidding me, do understand how life work back in the 6th century.
@Aditya Chauhan
Are you seriously that naive?
@Flak 88 this type of system might be allowed in islam but not in Hinduism,ohk…..
He might be Indian,i can agree but muslim🤗
Gold is rare, and many collect it as store of value.
What they don’t know, is that 80% of it is kept in Bullion banks, which then go on to sell the same gold to multiple entities without physically shipping it.
Essentially, over 95% of gold in existence is in the form of IOU’s. only 5% actually exists. This keeps the price of gold from rising, and essentially transforms it into a form of fiat, on par with many other currencies.
Since so many currencies are pegged to the gold standard, governments are motivated to keep the prices of gold low by continuously printing IOU certificates.
Because@Leon Campa, the price of gold is relatively stable. Their currency is not. They have physical access to the gold in question, it isn’t a trade note.
Trading in something with relatively stable value is normal when hyperinflation hits your currency.
You are failing to understand what is going on in the video.
@TJ Marx You’re missing the point. It wasn’t irrelevant.
@Nameberry It in fact is irrelevant to this video
@TJ Marx Repeat yourself all you want, it doesn’t make it true.
@Nameberry Repeating it doesn’t make it true. The fact that it’s true does.
An I wonder where they got the gold,stolen from the during the war!!!
I am chain machine technician for Italian machine
Old is Gold.
Because the old Saddam Hussein era was gold 😭😭😭
@Sánchez Boy nope
Before saddam was the best
i love how no one in iraq knows who’s responsible for exporting and managing such an essential resource
Is it really essential though? The price has risen and fallen for centuries. It is just demand.
They they ship in to begin with
It’s not the country’s own Gold production, its not like from own gold mines Iraq both import and then export Gold again,
Não tem em português
I think it’s Iran
Americans will pay
lol. everyone in this world has an endless list of demands, but no body wants to work for it! what a runny shity world
There are no pockets in a shroud.
AVERAGE EMURIC STRUGGLES TO PAY FOR COLLEGE, HEALTH CARE AND MORTGAGE
Gold fever kills the soul.
And they are poor….
So sad for your president
Secret ? Yes three word secret U S A .
U definitely don’t want to get caught snuggling in Iraq
Sad to see so many of the once secular county, now forcing women to cover their hair.
Apparently Women is also the previous commodity after gold
So sad to see so many secular countries forcibly stopping women from covering themselves by choice.
is that what you got from the report ?
not that the secular countries you brag so much about destroyed these people lives by invading their country?
imbecile.
How about forcing women to compete with Men in sports..
Simple
Fall of iraq = Fall of Saddam!
I Like Gold! Who here Like and Want 1kg of GOLD, comment here
Gold is Money, Money is Gold
Iraq has a bright future wish them good luck, I hope we will have good relations to our neighbour’s in a human way not political, Iraq and Iran are our most important neighbour’s.
U.S. stole tonnes of gold from Iraq since 2003.
Price of ousting Saddam Hossain.
Hey Iraq how’s the democracy y’all wanted so bad going on for your ?
LOL🤪
We didn’t want it but we got it, it sucks, capitalism is a scam. It was going good until America barged in taking our oil and stealing our gold and resources. heck you Destroyed our culture
They’ll never take accountability for their own actions, they’ll just keep blaming the Us for the help they asked for. And they wonder why we don’t just swoop in and save the day in Myanmar. The world is entirely ungrateful to US efforts.
@John Covington We were cool until y’all blamed us for some thing we didn’t do
What did happen Iraqi gold secured in the Saddam’s Palace ? I still remember the picture of USA soldiers posing in front of pile of gold bars.
@BF3 and 4 HighLights let me guess you were in charge of transportation 😁
@அவானி உயர்ந்தது let me guess you are in charge … Beep beep 🤣🤣🤣
It was looted by America
they stole it.what else
Why r you caring about this???? Iraq is a muslim country….india loves usa and israel….
When I was a boy and the Shah, a CIA puppet, was in charge, I met many Iranian students in college and they were the kind of people I would want as neighbors and friends. That our CIA would promote democracy only if Iranians would vote for who the US oil interests wanted in power disgusts me beyond all belief. Yet, in that small window of time, when I consider the question of what happened to the Iraqi gold and the Libyan gold, I can only conclude these “wars” were about who has the gold to have a currency system independent of the reserve system. I wish we could be friends again, but the treason being commuted in the USA by China’s “useful idiots” is a major problem. Never let your gold exports be such you can’t have a gold standard.
turkey is a thief country. Stealing From Iraq and syria
Iraq and Syria dumb enough just to let someone steal their own property?
Iraq large GOLD exports?amazing……gold from the river?no one know.
Sell before Biden comes to take the rest that bush and Obama left behind
Lets invade and steal it
Iraq is the shiz from new schools to a electric grid that serves the need and desire of the population . Totally great by the malik he do everything on time everyone agrees the total malik
Indians be like – We got competition.
And then democracy came in iraq and business flourish and reach new heights
Is that supose to be ironic?
Sure the business of arms trade by US companies.
Akmeds pork taco’s is open in Tehran
Thank you for visiting dozens of government offices…
Well said 0:41-0:47
The last type of commodity that you’d associate Iraq with.
Não tem hem português!
Cia !
Isn’t it strange all the rich nations with oil and gold diamonds are not developed except the gulf states ,saudi trumperia
Wow!
I can see the beauty of those golds as I am watching the video.
You support the Occupation force come to destroy your country, the occupation force must withdraaw from IRAQ, Iraqees must learn a lesson.
They should learn from. Taliban.
To free their country
Oh let me guess ? Corruption, economic mismanagement, High debt to china… makes gold one of the only real valuable currency for international trade.
Gold unite humans. It must be called as God metal.
American and European hegemony started
Gold cannot be printed or conjured-up from thin air like a fiat currency.