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Found 1 result

  1. There is mis-leading information and understanding of the CBI daily auctions. There are two main purposes of the auction. One is personal transactions of individual government employees or groups within the government that need bills paid on behalf of the government... Travel, events, expenses. All less than 1/2 percent of the daily transactions. The rest of the auction process is 99.% around oil sales. Surrounding countries in the region that purchase oil outside the petro-dollar agreements are required to pay in USD's. All oil sales are tracked through the CBI under the heading AUCTION. So daily posting of the CBI auction really don't matter to as we are not selling or buying oil! Darn... I thought the auctions actually meant something : (
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