25 replies to this topic

[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.