CBI Daily Currency Auctions - Wednesday, 26 March 2014

[ronscarpa]

Currency Auctions
Announcement No. (2635)

The latest daily currency auction was held in the Central Bank of Iraq on Wednesday, the 26-Mar-2014 results were as follows:

DETAILS ------------------&--------------- NOTES

Number of banks 19
Auction price selling dinar / US$ 1166
Auction price buying dinar / US$ -----
Amount sold at auction price (US$) 175,612,000
Amount purchased at Auction price (US$) -----
Total offers for buying (US$) 175,612,000
Total offers for selling (US$) -----

Exchange rates

[calkid11]

Thank you Ron

[stealthwarrior]

Man,that's a lot

[Pablo404]

I do not get it. They sell about one billion dinars a week and take in US dollars. They want only dinars to be used in Iraq and the US dollars are currently held as "reserve" , probably to be 'exchanged' for dinar from the other countries central banks. Are they actively trading US dollars to retrieve dinars from other central banks to reduce the large overall amount of dinars in circulation? It seems they purchased Gold to further back their currency in lieu of the US dollars. That would make sense.

   Thoughts or ideas anyone?

[tamiflyer]

I do not get it. They sell about one billion dinars a week and take in US dollars. They want only dinars to be used in Iraq and the US dollars are currently held as "reserve" , probably to be 'exchanged' for dinar from the other countries central banks. Are they actively trading US dollars to retrieve dinars from other central banks to reduce the large overall amount of dinars in circulation? It seems they purchased Gold to further back their currency in lieu of the US dollars. That would make sense.

   Thoughts or ideas anyone?

Hello Pablo.

 

Most countries which do not have a system of laws like the US have just one loophole, personal investments in Swiss bank accounts.  Take a look at Venezuela 12 years ago when 4 billion dollars wound up missing in the 1st 6 months of Chavez tenure.   Until today, no one is talking about this, however, this money is somewhere!  Just imagine on his 14 years reign what could have happened as he perfected his actions?  Now, Iraq is definitely wealthy in minerals, just like Venezuela is.  So, 11 years since the liberation, what can one think about the real value of it?  In my mind, money is never lost, just repositioned!   Only the amount of people in the world can change the real value of it.  Something to ponder about.  Thanks Pablo for your post.  GLTY and All.  Go RV.

[Pablo404]

Having gone over the CBI's financial statements for 2012 (Audit signed off aug.2013) the biggest note of interest was that the Kurdistans central banks of Ebil and Sulaimaniyah were NOT included as their figures were not available to the auditors. However even without those figures (which would probably bump up totals 40%+) showed a currency issued at almost 36 Trillion dinar and a net profit for operations in US dollars at $1.756 billion with gross assets from all sources (excluding Kurdistan numbers) of a littlke over 85 Trillion dinars or approx $71 Billion. Now these figures are for just the CBI's assets.

  Now when we add Basil III hard mineral assets, (gold, silver, etc) oil,  and the eventual return of agricultual sales and related items. we are in good shape for a very large increase in dinar value. We all want an RV, though patience is in somewhat a limited quantity at present, 'all good things come to those who wait'. A return to values of the depressed dinar from year 2000 wold be a 3,800+ fold increase.  Lord give me patience...but please hurry up!

[yusofsabri]

Lord give me patience...but please hurry up!

LOL

[ComPLX]

Very astute analysis, Pablo. Thanks

[sandfly]

THANKS