CBI Currency Auction 8 Feb 2012

[oleman]

Announcement No. (2073)

The latest daily currency auction was held in the Central Bank of Iraq on the 8-FEB-2012. The results were as follows:

Details Notes

Number of banks 5

Auction price selling dinar / US$ 1166

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

Amount sold at auction price (US$) 15,363,000

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

Total offers for buying (US$) 15,363,000

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

Exchange rates

http://www.cbi.iq/index.php?pid=CurrencyAuctions

Dollar's exchange rates / in Baghdad markets

[DetroittoAZ]

Lookin good!!!

[tamiflyer]

Looking great! How many low ones is that? 4, 5? @ $100 per barrel, that is approximately 1.2 billion dollars (In 4 days), minus cost and auctions, say about 1 billion. So that would make it about 7 billion per month of cash coming in. IMMHO, the 60 billion dollars in reserve are just a wash. I am more inclined to believe that they are in 200 to 300 billion Dollar range in their reserves. Thank you for your post. GLTY and All. Go RV.

[hammer911]

Looking great! How many low ones is that? 4, 5? @ $100 per barrel, that is approximately 1.2 billion dollars (In 4 days), minus cost and auctions, say about 1 billion. So that would make it about 7 billion per month of cash coming in. IMMHO, the 60 billion dollars in reserve are just a wash. I am more inclined to believe that they are in 200 to 300 billion Dollar range in their reserves. Thank you for your post. GLTY and All. Go RV.

I see where you are going with this and respect your opinion. And maybe Im wrong here.. But I think that the forion reserves can only come from auctions not oil money. And I also "think"...from what I read.. that they need a lot of forion reserves to be traded globaly...Im just thinking here IMO.....But am sure they have enough to go worldly!!!GO RV!!!~~~

[tamiflyer]

I see where you are going with this and respect your opinion. And maybe Im wrong here.. But I think that the forion reserves can only come from auctions not oil money. And I also "think"...from what I read.. that they need a lot of forion reserves to be traded globaly...Im just thinking here IMO.....But am sure they have enough to go worldly!!!GO RV!!!~~~

All I can tell is that they have not been very truthful about anything there, always throwing out information and disinformation simultaneously. Let's say that this is true, that they can only fatten up their reserves with foreign auctions, then where is all this oil money going? If the CBI is in total control of giving value to the Dinar, wouldn't the oil play the most important part of its value, whether in cash or black tar? There is something missing here and they are not very forward with it. Thank you for your post and I also respect your opinion very much. GLTY and All. Go RV.

[Cynthia AH]

Thanks oleman, getting closer to home...Good-Bye Afghanistan...Good Morning Texas!!!!

[Stryker365]

I just love seeing these small auctions.....

[redsand]

I just love seeing these small auctions.....

Interesting how it got smaller than yesterday. If I wasn't mistaken, there was about 10 banks I think? One would think MORE banks would be getting cleared to be part of the auctions again...according to the news.

...my wife wants me resting up...damn flu. She'll kill me if she found out Im typing instead of sleeping. Wednesday and Thursday are my favorite DV days though.

[bamagirl]

I just love seeing these small auctions.....

Me too...I can hear the train coming but I just can't see it yet...still excited!

[Stryker365]

Interesting how it got smaller than yesterday. If I wasn't mistaken, there was about 10 banks I think? One would think MORE banks would be getting cleared to be part of the auctions again...according to the news.

...my wife wants me resting up...damn flu. She'll kill me if she found out Im typing instead of sleeping. Wednesday and Thursday are my favorite DV days though.

I saw your post on another thread and was about to ask how your feeling, better do what momma whats before you get in trouble..

[redsand]

I saw your post on another thread and was about to ask how your feeling, better do what momma whats before you get in trouble..

haha

You know Im teaching these kids everyday and my desk is right next to a heater...I think its recycled air. I knew it would catch up to me sooner or later.

[Rubberband King]

Got to love these auctions of late!

Thanks for the post Oleman

[caz1104]

All I can tell is that they have not been very truthful about anything there, always throwing out information and disinformation simultaneously. Let's say that this is true, that they can only fatten up their reserves with foreign auctions, then where is all this oil money going? If the CBI is in total control of giving value to the Dinar, wouldn't the oil play the most important part of its value, whether in cash or black tar? There is something missing here and they are not very forward with it. Thank you for your post and I also respect your opinion very much. GLTY and All. Go RV.

"not been very truthful" IMO thats been the case in this whole process,but I would'nt expect anything less with whats involved. To rely on what's been said or written and take it as fact is a mistake.I know its been said many times,watch what they do NOT what is said or written. Best to all

[Abarvets]

Gotta love the smaller auctions. Slowing down the velocity of money nice...............

[Carrello]

Me too...I can hear the train coming but I just can't see it yet...still excited!

I smell smoke and the rails are a rattlin'

Wait, I see the Fat Lady driving that train, she is blowing the whistle and gargling at the same time! Whoo whooo! Get out of her way!

[Shick]

Nothing to turn my head around but! GO RV GO!

[ftruck7]

Adam said not to pay much attention to the auctions, unless the US banks are involved.

[zigmeister]

Yes very exciting. Only five banks compared to 10 yesterday.....I find it interesting in the past the banks buying did not vary much but now one day 3, the next 4, the next 10, and today 5. Were the other five tardy? I really expected to see 15 banks today.