75 mil auction what does it do?

[roger01]

Maybe someone smarter I can tell us what the effect is for limiting the sell of the petro dollar? So my understanding is: that they sell it to banks and suck in dinars from the community. Maybe I'm wrong but that would leave more dinar in circulation. That seems counter productive to raise the exchange rate if it's then used to purchase goods from vendors that may accept dinar...neighboring countries. Why do that? Am I getting something wrong here? Also, I believe we aren't going to be waiting longer for a million different reasons why they could delay longer but to throw us off with articles pushing it out further just to surprise us when it just appears. Little help...

Edited February 1, 2015 by roger01

[Texstorm]

How long have you been following the dinar Roger ? I'm just wondering since it seems that you are writing the dinar epitaph in your closing statement. Thanks

[roger01]

Been following since I was in Iraq in 2004 and decided it could be profitable.

Edited February 1, 2015 by roger01

[roger01]

To be honest I'm not heavily invested. I have only about 700k dinar but I've held onto it patiently to hopefully regain some of what I've lost financially after 3 tours of duty. 2 wives, my family etc. This would only give me a fresh start. Not going to be well off for life or anything cause I don't need anymore problems that come with having money. I've lost a ton of brothers thru this war. That won't bring them back but it might give me a chance to do some good in their names and pay for my daughters college. I'm pretty simple though have dreams of comfortably living. So I've been patient when I've wanted to give up. Here's to hoping for some miracle.

Edited February 1, 2015 by roger01

[Texstorm]

Well we have both heard everything and every excuse under the sun by now and yet we wake up tomorrow and there will more than likely be something else. I still have faith that this will go down in a positive way Roger and either we are close or we or we are far. The HCL and going international through visa/mastercard/selling oil abroad/ISX/investment protection laws will be my determination as to how much longer it may be. These are the things that are happening right now before our very eyes. All of these things that I mention can not be held back, so I guess we will have to wait and see if Iraq can pull off an RV. Good luck and fortune to us all ! 

[psdon]

A + for you from Don U.S.army DAV/ret

[Texstorm]

Thanks for your service to our country !   I wish you the best because you are the best ! 

[dontlop]

The auctions are there to get dinar back into their hands so they can use them

It's the law in iraq for the govt to pay its employees and contractors in dinar

School teachers , road workers , military , police , anyone doing work at the schools Ect.

So the govt spends trillions of dinar a month in dinar

They had been buying about 5 trillion dinar a month back from the banks

So if the govt keeps spending dinar eventually they don't have any more so that's why they buy them back

And at the same time the guy selling cars needs dollars to buy cars and trucks from over seas the guy selling furniture needs dollars the guy that owns the grocery store needs dollars

They all are importers and the iraq dinar is only a local currency iraq falls under imf article 14 and if they remove payment restrictions and accept imf article 8 their currency woukd be guarenteed by the govt

But it's not

Any in my opinion them lowering the auction is a necessary tool for them to get the importers to use the credit card and keep their money in a bank which reduces money outside the bank and money that's inside the bank is a bank asset

Bank assets are necessary to loan money or borrow money

It's a way to get people to use credit cards to import and the new credit cards being released simutainously with the lowering of the auctions to 75 million dollars a day in my opinion is a good idea if your trying to get people to leave money sitting in banks and just use paper trails to buy and sell

I don't think it has anything to do with a rv

But it might , how can ya prove it doesn't

[dontlop]

Think if everyone pulled their money out of the banks in usa

All that liability out there

There's more money " cash " on the streets on the week end then during Monday thru Friday

It goes out and it's spent and back in the bank Monday morning

Meeting the Variable Demand for Cash

The public typically obtains its cash from banks by withdrawing cash from automated teller machines (ATMs) or by cashing checks. The amount of cash that the public holds varies seasonally, by the day of the month, and even by the day of the week. For example, people demand a large amount of cash for shopping and vacations during the year-end holiday season. Also, people typically withdraw cash at ATMs over the weekend, so there is more cash in circulation on Monday than on Friday.

New York fed

http://www.newyorkfed.org/aboutthefed/fedpoint/fed01.html

[MyLadiesDaddy]

How Currency Gets into Circulation        

• There is about $1.2 trillion dollars of U.S. currency in circulation.

• The Federal Reserve Banks distribute new currency for the U.S. Treasury Department, which prints it.

• Depository institutions buy currency from Federal Reserve Banks when they need it to meet customer demand, and they deposit cash at the Fed when they have more than they need to meet customer demand.

As of July 2013, currency in circulation—that is, U.S. coins and paper currency in the hands of the public—totaled about $1.2 trillion dollars. The amount of cash in circulation has risen rapidly in recent decades and much of the increase has been caused by demand from abroad. The Federal Reserve estimates that the majority of the cash in circulation today is outside the United States.

Meeting the Variable Demand for Cash

The public typically obtains its cash from banks by withdrawing cash from automated teller machines (ATMs) or by cashing checks. The amount of cash that the public holds varies seasonally, by the day of the month, and even by the day of the week. For example, people demand a large amount of cash for shopping and vacations during the year-end holiday season. Also, people typically withdraw cash at ATMs over the weekend, so there is more cash in circulation on Monday than on Friday

http://www.newyorkfed.org/aboutthefed/fedpoint/fed01.html

 

 

This is from the US Federal Reserve and would have little (and possibly no bearing)

 

in the function of the CBI. If you can provide us with proof that the CBI is using

 

this same template then we would love to see it. 

[dontlop]

So the usa only needing a couple trillion cash dollars because the rest of the money is in the banking system

That's exactly what iraq is trying to achieve

Just look at the usa model iraq is trying to mirror that

Not saying they will be successful but most likely they will they won't leave it much choice as we can see they are limiting the auctions now

It's a good start

But like the USA people like cash on the week ends and on vacation

So they can't and wont try to tottaly eliminate cash

When your trying to see why iraq is doing things try looking at other countrys to see what they are doing

Iraqi media isn't as good to read as some of the more established media sources are in other country's

[dantach]

They may like to do things as we do; but THEY were smart enough not to re-elect their Obama.