CBI Currency Auction 11/16/2010

[Doc31]

Currency Auctions

Announcement No. (1777)

The latest daily currency auction was held in the Central Bank of Iraq on the 15-NOV-2010. The results were as follows:

DetailsNotesNumber of banks17

Auction price selling dinar / US$1170

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

Amount sold at auction price (US$)151,278,000

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

Total offers for buying (US$)151,278,000

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

Exchange rates

Dollar's exchange rates / in Baghdad markets

Spot Oil~$84.45 (only 2 of 3 available at this hour) sliding down

Spot Gold $1359.50 still sliding from insane highs (still insane IMO)

Zero Cash days UNPOSTED by CBI ... 28 that we know of ... if they don't post it early ... it won't get posted until tomorrow with tomorrow's results.

Did the Iraqis miss the "perfect storm" that was set up for them? Well if we knew who all those players were we might have a low percentage shot at figuring that out ... since we don't ... not so much. Frank26 has tracked oil and how it swings up at the beginning of the month (I may have the timing wrong but the point is the same) and then when the Iraqis are non-compliant it slides down again. Gold is still high enough to accomodate RI/RV. It is much better for the Iraqis if oil is high ... $90+ according to Frank26. Remember, their budget is calculated on what $58 oil? The fact that it has been sitting at $74 and above is a bonus to their economy (purposely figured low to allow themselves a cushion).

We don't know if there was another zero cash day and won't until tomorrow ... we see oil sliding (yes, I know it can skyrocket with but a moments notice but it has been sliding for days now) ... gold is insane but trending down from all time records.

Have the Iraqis once again missed the "perfect storm" that was set up for them? Well, as of yet we don't hear the rest of the world (China, Kuwait, US, Germany, Russia) and big contractors such as GE and Siemens screaming and threatening to vote for sanctions against the Iraqis the way they did in June when the Iraqis missed that setup. (IMO June 14/15 WAS the day for government and RI/RV announcement based on the subsequent reactions.) Without the accompanying screaming and bad press with threats ... it appears that the opportunity MIGHT be waning ... but certainly not over.

Sit tight ... after all we've waited this long and there is what ... 6 weeks left in the year? Shabibi says in 2010 ... I believe him ... but that's just me ... I've told you many times that the Healthcare bill with the apparent windfall taxes attached and which gets activated New Years Day troubles me. Yes, I understand the Bush tax cut extension etc. but do the windfall taxes redefine this investment and tax it differently ... how is it to be treated, etc.

While the perfect storm appears presently that it might blow around us ... you can still smell it by virtue of the fact that the NEWS is ridiculous and while numbers aren't at their highest ... they are still relatively high compared to the $74 we've seen for months. Heating oil is going to skyrocket ... we know that ... as winter sets in.

Storms often surprise you ... let's see if this one does as well ... or whether it's just another squall!

Peace

Doc31

[Traconesu02]

Thanks for the post Doc31

[lumpsum]

Thanks again for your time!

[Officer151]

Yes. the key phrase is once again we have missed a key storm. As important as these no cash days seem to be I have yet to see the GURU's weigh in on this with any posative supporting evidence. We may be trying to create order when their is nothing more than chaos.

[Smokey Mtn. Dinar]

If it doesn't RV soon, I just might SQUALL! Just like a little kid!

[GO RV!!]

Good analysis as usual Doc! I haven't been following it as long as you have - but I just have to think with as much of the progress we KNOW has been made - combined with the disinformation from Iraq and the lack of media coverage - there is something brewing... and it just smells like they don't want anyone to really "notice" day to day developments in Iraq right now... .Heck personally, if you asked me 6 months ago - "Hey, if you think Iraq get's a Gov't formed, the media will cover it like crazy?" I would have said ABSOLUTELY - well at least some of the networks - but we would see at least a daily update on what happened....

Fast forward to reality = there really is nothing be talked about... kind of weird. OH well, I guess we will wait and see.

Thanks for the post Doc!

- Fresh

[Blackhawk Bob]

Thanks for the post Doc. Your points are interesting to ponder, in a disturbing sort of way. Hopefully, they'll surprise us at some unexpected moment before the years end.

[lechesuerte]

Thanks again Doc....always appreciated. GO RV in 2010!!!!

[QTen]

I thought today 11/16 was their holiday or holy day and so they wouldn't/couldn't have been working to have an auction. Obviously I am wrong.

[Maxi]

Thanks for the post Doc. This will happen at the perfect moment and not a second sooner...I am certainly learning patience

[oculaw1957]

Thanks doc. Appreciate your efforts

[rick_jb]

Thanks for the post Doc31. Go RV in 2010

[Doc31]

Wow ...

Gold slid down to $1330 today

Spot oil down to $82.95 off nearly 3% on the day

[JugDawg1]

Thanks for the post Doc. This will happen at the perfect moment and not a second sooner...I am certainly learning patience

About a year and a half ago I finally broke down and asked God to help me learn patience. Smartest AND dumbest thing I ever did because it wasn't long after that I discovered........dinar.

[GO RV!!]

Wow ...

Gold slid down to $1330 today

Spot oil down to $82.95 off nearly 3% on the day

Doc, Good point... I've been watching the markets and it seems that commodities have been taking a hit - some say "profit taking"... I wonder how much is "known" in the market with respect to the future value Iraq brings to the Global table of finances... markets tend to start padding for the "known" data that is being "announced" days later when it's consider "public knowledge"...

- Fresh

[ktlamm]

Thanks Doc I think you are right on...God bless

[fatbob]

Thanks for the posts Doc.

[ROACH]

Doc,

I continue to follow your reports as well as Vipers and Steves.

I agree that there may have been a better chance recently but considering where it is now compared to months prior, we are still looking good for the RV prior to New Years and another Obama screw up.

Thanks for all your reports.