Popular Post Doc31 Posted January 30, 2011 Popular Post Report Share Posted January 30, 2011 Currency Auctions Announcement No. (1824) The latest daily currency auction was held in the Central Bank of Iraq on the 30-JAN-2011. The results were as follows: Details Notes Number of banks 9 Auction price selling dinar / US$1170 Auction price buying dinar / US$----- Amount sold at auction price (US$)66,450,000 Amount purchased at Auction price (US$)----- Total offers for buying (US$)66,450,000 Total offers for selling (US$)----- Exchange rates Dollar's exchange rates / in Baghdad markets Normally I post the chart above and it's pretty self explanatory. Today ... not so much. I realize that currently the markets are closed and we are looking at close on Friday numbers. The chart belies something that COULD be of benefit to us. Take a peek. First here's Gold: Do you see what happened starting at about 9:30 (circled in yellow)? A $32 up in about an hour and a half!!! Folks, this is a volatile market ... but I don't care who you are ... the thing looks like a bottle rocket! Now take a look at this: Look familiar? Different timing but the same bottle rocket. There will be those that will tell you that it is the fluctuation of the dollar ... uh huh ... no ... me neither. Dbl Dinar called me with this info on Friday so I compared it with gold ... Well the CBI has only a few banks participating in the currency auction. Low volume and again minuscule cash portion of 450K ... almost a lay-over of last Wednesday. Clearly a near zero day but the volume since last Tuesday is very low. Breathing through a reed again. On to the news: Wow just read that article on buying 3 ships ... translation is awful ... but it seems that not only are they trying to get competitive bids for the ships but that port fees and dock worker (?) fees have been reduced to make them the most competitive in the region. Iraq wants to be the jewel of the Med. It seems that they are doing all that they can to foster that image and create an attractive alternative to existing options ... or lowering prices to bring in much needed revenue/cash (that was for you conspiracy theorists ... had to get it in here). That article is followed by the first tour group of the year (Taiwan) ... I told you ... wait until they build Disney Mediterranean! Nepotism is alive and well in the GOI as al-Maliki appoints his son to "assistant director to the office of the PM". Question: is this the guy who is reported to have stashed 1B IQD over the border for Daddy? Fact or fiction? ... who knows ... neither of us was there ... but it wouldn't surprise me at all. We see the Talabani, Barzani, Allawi triangle. Parliament resumes its session after their unearned and ill-timed vacation ... sorry, couldn't help myself. It says that they will be working on Federal Court ruling ... budget ... maybe ... but only if they feel like it and if they get around to it on Tuesday. I think it's clear how I feel about these ridiculous clowns. Yes, I know there is something else going on ... and you don't know what it is either ... am I right?! Me too! I was going to send you to the article about the CBI urging the government to take advantage of the deposits rather than borrow from it ... 32T IQD. Then I realized it was headlined by the MoPr ... Minister of Propaganda Mohammed Salih. Verify from another source before swallowing his swill. It is time for al-Maliki to go to Kuwait after the Emir's visit earlier in the month. I wish he was taking a check. Yes, I know that isn't how it's done ... I'm just wishing here! There is also an article announcing that $21B still remains of the debt. There are quite a few articles regarding utilities ... too many in fact ... distraction/news filler or becoming a priority. We'll have to wait and see. The thing I saw last night was quite a number of Kurd/Parliament oriented articles. Are the Kurds STILL in charge? That's all that I have time for. Peace to all Doc31 19 Link to comment Share on other sites More sharing options...
pleasantvalleySunday Posted January 30, 2011 Report Share Posted January 30, 2011 thanks Doc31!! 2 Link to comment Share on other sites More sharing options...
BanG Posted January 30, 2011 Report Share Posted January 30, 2011 Thanks Doc, appreciate the update man. Link to comment Share on other sites More sharing options...
nackers Posted January 30, 2011 Report Share Posted January 30, 2011 Thanks for the post most helpfull Link to comment Share on other sites More sharing options...
trintrin Posted January 30, 2011 Report Share Posted January 30, 2011 Good job, Doc! Thanks! Link to comment Share on other sites More sharing options...
Nitrobuzz Posted January 30, 2011 Report Share Posted January 30, 2011 THANKS DOC31!!!!!! Link to comment Share on other sites More sharing options...
leggman24 Posted January 30, 2011 Report Share Posted January 30, 2011 Thanks for the post Doc. I look forward to seeing it every morning. Missed ya last week. Link to comment Share on other sites More sharing options...
robo5288 Posted January 30, 2011 Report Share Posted January 30, 2011 Doc: Just so you know, the minutes for Parliament meetings 1/16, 1/17, and 1/18 are out. Well, if they were on vacation on 1/17 and 1/18 how could we have meeting minutes? Answer. When you read the minutes you will discover that they have been meeting all along. Full sessons. Behind closed doors. No media. Nothing. Much has happened the last two weeks. parliament.iq. Thanks as always doc. 1 Link to comment Share on other sites More sharing options...
blue horseshoe Posted January 30, 2011 Report Share Posted January 30, 2011 Hey Doc - I have been reading this site for a few months and I love your stuff the best! Please keep it up and don't listen to the thousands of fools that write on here. Great job.. Thanks for the research. 1 Link to comment Share on other sites More sharing options...
usndsd Posted January 30, 2011 Report Share Posted January 30, 2011 thanks doc appreciate your posts Link to comment Share on other sites More sharing options...
littlesam Posted January 30, 2011 Report Share Posted January 30, 2011 thanks doc..... Link to comment Share on other sites More sharing options...
pops Posted January 30, 2011 Report Share Posted January 30, 2011 Hey Doc, Thanks as always. I thought you might have time to give your opinion on something after church. 1.On which day of the week do you think we most likely to see the RV. Do look for it on a Sunday morning when the CBI opens, a Sunday afternoon when Forex starts up, Thursday morning or at the close of the day Thursday or is it just as likely to pop up at any time???? 2. Where will we see it first? I know you are not a rate and date kind of a guy but you keep your finger on the pulse as good as anyone considering we are talking ME and their way of doing things. Have a cup of coffee and answer today or at a later time. I try and read all your post and look forward to seeing you at the bank. 2 Link to comment Share on other sites More sharing options...
R2d2dc Posted January 30, 2011 Report Share Posted January 30, 2011 Thanks Doc! Thanks Doc! 1 Link to comment Share on other sites More sharing options...
kingdog 5 Posted January 30, 2011 Report Share Posted January 30, 2011 Thanks for the info Doc. Link to comment Share on other sites More sharing options...
BruceV Posted January 30, 2011 Report Share Posted January 30, 2011 Thanks, your the best! 1 Link to comment Share on other sites More sharing options...
tommyboy Posted January 30, 2011 Report Share Posted January 30, 2011 Thanks Doc. Although not gospel, MSNBC said the rise in oil was because of the situation in Egypt and fears the Suez Canal would be closed and supposedly that sparked a rise in gold prices and fall in the Dow as well. Link to comment Share on other sites More sharing options...
RG7 Posted January 30, 2011 Report Share Posted January 30, 2011 Thanks Doc, always look forward to hearing from you Link to comment Share on other sites More sharing options...
bladowzanow Posted January 30, 2011 Report Share Posted January 30, 2011 Very much appreciated Doc... as usual. Link to comment Share on other sites More sharing options...
NCricket Posted January 30, 2011 Report Share Posted January 30, 2011 I always appreciate it when you post...thank you!! Link to comment Share on other sites More sharing options...
snowglobe4 Posted January 30, 2011 Report Share Posted January 30, 2011 We are lucky to have you Doc..ty a milion...dinar!!! 1 Link to comment Share on other sites More sharing options...
MADELAMO Posted January 30, 2011 Report Share Posted January 30, 2011 Doc, Thanks for the post. Link to comment Share on other sites More sharing options...
Darin Posted January 30, 2011 Report Share Posted January 30, 2011 Love reading your stuff Doc, and the more I read it, the more I am starting to understand what your posting as well. Thanks for the knowledge! About the M visiting Kuwait, I did read the article that 21B is still owed to Kuwait. I also read that Iraq paid $680 million to Kuwait so far... Now, when the Emir visited Iraq, shortly after every citizen of Kuwait received the equivalent of $3,500 USD & from what I have read free groceries for a year. If Kuwait paid roughly a 1,000,000 of its citizens, well the math comes out like this for what Kuwait paid $3,500 x 1,000,000 = 3,500,000,000... That is over $3 billion. People were speculating that they money to the citizen was because of Iraq... Did Kuwait do this knowing that either A) they'll be receiving debt payments from Iraq in an imminent manner? or Did Iraq pay them more than what the media stated ($680 million)... So I got to thinking.... What if the $680,000,000 was a pre-RV payment.... If the IQD re-valued at roughly $0.02 to $0.03, the debt would be covered w/ Kuwait. Given that the $680 Million is the equivalent in terms of USD value in IQD. And the balance to be paid of $21 billion was also in terms of USD. Because $680,000,000 equals roughly 799,340,000,000. So do the math to see what that 799 figures in IQD would have to hit to equal roughly 21 billion. I got roughly 23 billion or so when multiplying it by $0.03 I hope this little theory is way wrong... Because $0.03 is rather low (A return on Investment for sure, but low) Link to comment Share on other sites More sharing options...
MrRich Posted January 30, 2011 Report Share Posted January 30, 2011 There's no chicken little in that post!!! 1 Link to comment Share on other sites More sharing options...
tevye02 Posted January 30, 2011 Report Share Posted January 30, 2011 Thanks as always Doc31. Always some thing to chew on in your posts. Link to comment Share on other sites More sharing options...
Doc31 Posted January 30, 2011 Author Report Share Posted January 30, 2011 Love reading your stuff Doc, and the more I read it, the more I am starting to understand what your posting as well. Thanks for the knowledge! About the M visiting Kuwait, I did read the article that 21B is still owed to Kuwait. I also read that Iraq paid $680 million to Kuwait so far... Now, when the Emir visited Iraq, shortly after every citizen of Kuwait received the equivalent of $3,500 USD & from what I have read free groceries for a year. If Kuwait paid roughly a 1,000,000 of its citizens, well the math comes out like this for what Kuwait paid $3,500 x 1,000,000 = 3,500,000,000... That is over $3 billion. People were speculating that they money to the citizen was because of Iraq... Did Kuwait do this knowing that either A) they'll be receiving debt payments from Iraq in an imminent manner? or Did Iraq pay them more than what the media stated ($680 million)... So I got to thinking.... What if the $680,000,000 was a pre-RV payment.... If the IQD re-valued at roughly $0.02 to $0.03, the debt would be covered w/ Kuwait. Given that the $680 Million is the equivalent in terms of USD value in IQD. And the balance to be paid of $21 billion was also in terms of USD. Because $680,000,000 equals roughly 799,340,000,000. So do the math to see what that 799 figures in IQD would have to hit to equal roughly 21 billion. I got roughly 23 billion or so when multiplying it by $0.03 I hope this little theory is way wrong... Because $0.03 is rather low (A return on Investment for sure, but low) Welllllllllllllllllllllllllllllllllllllllllll ... that $680M is something more like $27B-$29B if memory serves ... that came from the 5% going to the DFI funds at the FRBNY (I understand the money has been moved to Virginia ... Treasury? ... no one commenting on why that took place WHEN it did. I'm sure that's going to mess your math up. While I'm not a rate or date guy ... the MOF proposed $1.79 that the then seated Parliament rejected ... that's where the $3.210856yadayadayada came from. I'm not a $.03 kinda' guy ... not only will their economy not turn over on that amount ... someone could actually come in and buy Iraq cheap (yes, I know it isn't that simple ... but it is possible to control it via a similar mechanism). Peace Doc31 There's no chicken little in that post!!! Sure there is ... Mohammed Salih! ... lol Link to comment Share on other sites More sharing options...
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