CBI Currency Auction 11/24/2010

[Doc31]

Currency Auctions

Announcement No. (1781)

The latest daily currency auction was held in the Central Bank of Iraq on the 24-NOV-2010.

The results were as follows:

DetailsNotesNumber of banks 14

Auction price selling dinar / US$1170

Auction price buying dinar / US$-----

Amount sold at auction price (US$)125,989,000

Amount purchased at Auction price (US$)-----

Total offers for buying (US$)125,989,000

Total offers for selling (US$)-----

Exchange rates

Dollar's exchange rates / in Baghdad markets

Spot Oil ~$82.31 up $.60 currently with 2 of 3 reporting

Spot Gold $1375.30 up and in a channel this morning

Zero Cash Days I'm calling it 32 straight as they came up for a little air similar to 3 weeks ago ... today's numbers are 320,000 compared to the low of 2M back in August and the normal high teens of millions. You make the call for yourself but note that 14 of 19 banks participated on okay volume ... spread across 14 banks ... it isn't much.

********** say that "They (Iraq) are flat out of money" ...

You be the judge!

I'm cutting it off here ... you know that I don't post for the sake of posting ... I just don't see anything yet that gives us any insight ... I'll pop in from time to time.

Peace

Doc31

[SparkyNTexas]

Thanks for the post, Keepem coming.

[bobby_cahill]

Thanks for your insight DOC

I wake up everyday looking forward to your post and hoping for "zero cash days"

I think you and the group are right.......Iraqs broke!

Have a happy Thanksgiving!

Semper Fi

[inheritance]

Thanks Doc!

Happy Thanksgiving to you sir!

[Chief V]

Great info Doc, thanks again for keeping us updated on this!

V

[Biker girl]

Thanks Doc!!

[god bless]

IRAQ IS NOT BROKE,I REPEAT , IRAQ IS NOT BROKE...AS ALWAYS...GOD BLESS.....

[Drez]

Thanks Doc, have a good Thanksgiving.

[Doc31]

IRAQ IS NOT BROKE,I REPEAT , IRAQ IS NOT BROKE...AS ALWAYS...GOD BLESS.....

Yes, you are correct they are NOT broke ... hard to say broke with nearly 1T in the DFI ... lol ... but in my view ... they have at the very least boxed themselves into a corner.

[bobby_cahill]

Do they have access to the DFI fund?

I don't think so

Least not yet

Course i'm still learning so thanks for all the info

Happy Thanksgiving

Semper Fi

[Doc31]

Do they have access to the DFI fund?

I don't think so

I never said that they did ... I said it's hard to say broke with nearly 1T in DFI ... and it's also why I said that "they have painted themselves into a corner" ... spent all of their high denoms did they? (not confirmed) ... low denoms printed way back by De La Rue for General Tant are available ... of course they will need to RI/RV in a pretty sizeable way to make those workable. But then ... that works for me ... and I'll bet it works for you too!

Peace

Doc31

[rick_jb]

As always, thanks for the post . Have a Happy Thanksgiving Doc31.

[rwharnden]

As always; Thanks Doc your insight is appreciated!

[JugDawg1]

Thanks you Docstar.

[BW3]

THANKS DOC.... YOU ROCK!!! Let's hope the banks dont stop,,,, until the RV hammer Drops.....

[quadraph0nic]

Thanks Doc! I really appreciate your dedication to the auction and the explanations you provide. You also are very correct in saying they are broke.

They don't have access to the DF funds.

The IMF will shut down their loan if they don't change their monetary policy.

They have no one to turn to as the whole world is expecting this since most of their debt has been forgiven.

We still have chap VII over them.

Sad to say that this is the only way these fools will get their act together. After the RV these political clowns will say they did it for the people and probably even throw the U.S. under the bus. The truth is, there are a lot of people who died unnecessarily because they didn't form the government sooner. It was horrific what happened to those Christians. The impact an RV would have on their society would eliminate a lot of the insurgent influence that currently exists because society will change for the better.

Thanks again Doc

[brichards513]

Thanks Doc for all of your informative posts. To expound on your assertion that Iraq is broke - I liken it to being house rich and cash poor (I am in the mortgage business). They have huge amounts of assets (oil and natural gas reserves, assets held in the DFI, etc.) yet they cannot access any of it right now with the situation they are in. Much like a homeowner who has no mortgage on their home - yet they don't have any actual "cash" to pay their bills. Hope this analogy makes sense to most of you. Regardless - thanks again Doc for all of your hard work.

God Bless and Happy Thanksgiving!

[Doc31]

Wow ... just checked spot oil ... up 3% from this morning $84.36

Spot Gold $1374.70

[dbl dinar]

Doc, are you saying there might be a storm brewing?

[kingfish]

Thanks DOC

Great post.

[xxxgator]

wow !!!!! if they were selling 300,000,000.00 per day x 30 days that's a pretty big hole in the dike they plugged.I don't recall the actual averagesyou posted, but imagine how much big bills will be stopped and aquired ,especialy if it goes for another 30 day's !Hope it Rv's tomorrow but each day it dose'nt is a positive for them with none going out it makes removing large denoms from circulation on the fast track.I of course have no idea if that is what is going on but it i'm not quite sure what other purpose other than bringing up bank holdings as well for an rv.. Happy thanksgiving Doc and Shirley! Have a blessed day frying turkeys for every one.Make sure you and your better half sit and enjoy a few bites of your meal while it's still hot while busy serving others tommorrow!!!

[hammer911]

Thanks Doc, Iraq has finaly been pushed in a corner. IMF not giving them any more money... DFI un-accesable!!! This is in there own makeing!! And yes to the poster that to many inoceent people have died because of self gain!!! GO RV!!!~~~

[lucia]

"The truth is, there are a lot of people who died unnecessarily because they didn't form the government sooner. It was horrific what happened to those Christians."

Why just the Christians? Any loss of life due to war is horrific. I pray for everyone whose lives have been damaged in any way by these acts of inhumanity. Bless us all on this day of Thanksgiving. Let us remember how much we have to be thankful for.

[Doc31]

Happy thanksgiving Doc and Shirley! Have a blessed day frying turkeys for every one.Make sure you and your better half sit and enjoy a few bites of your meal while it's still hot while busy serving others tommorrow!!!

Thanks my friend ... we will ... and you and yours continue to be blessed, as I know that you are and will always be!

Peace

Doc31 et al

[Randy Lucas]

Thanks DOC for all your post, we will keep an eye out for the movement in the numbers. Thanks for all that you do and thanks for the post!