CBI Currency Auction 11/21/2010

[Doc31]

Currency Auctions

Announcement No. (1778)

The latest daily currency auction was held in the Central Bank of Iraq on the 21-NOV-2010.

The results were as follows:

DetailsNotesNumber of banks5

Auction price selling dinar / US$1170

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

Amount sold at auction price (US$)44,259,000

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

Total offers for buying (US$)44,259,000

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

Exchange rates

Dollar's exchange rates / in Baghdad markets

Spot Oil not reporting yet ... as of the 19th ~$82.37

Spot Gold not reporting yet ... as of the 19th $1354.10

Zero Cash Days 29 straight

Today's auction was apparently the first after Eid al-Adha ... volume was curiously low ... about 1/3 of normal volume ... with only 5 of the 19 banks participating. After a long holiday both the number of participants and the volume would seem counter-intuitive.

We will have to wait until tomorrow to see what happens.

I know that many are disappointed by the apparent delay reported in the news. If I were you I'd just relax ... to date it's been a long ride ... but we know that what they are supposed to do and when they do it are two different things ... and as Frank26 tells you ... DON'T LISTEN TO ANY OF THE GOI (driven, tainted, controlled) NEWS ... because it isn't news at all ... but self serving drivel. In other words ... what they are presently telling us is meaningless.

I will tell you this ... my group and I are pro-active ... we already have money to buy again this week (and we have at least once every week for over a year) ... if they drag this out ... we will buy and continue to buy until that day that we can't afford to buy any longer (RI/RV) ... THEN we sell and/or exchange!

Chin up ... Go RI/RV!!!

Peace

Doc31

[grimreaper]

Thx again Doc

[gmb]

Doc I noticed on CBI site this morning they are now posting SDR rates as well.....I never noticed it before and would appreciate your input on it. Have you seen it before??

[gfulcher66]

Thanks doc, I have not been dissappointed yet, however enjoyed /benefited from your positive chin up encouragement. This is the first time I got overly frustrated at another delay, thought this one was done.

[GO RV!!]

Thanks for the post DOC! My first take was WOW - seems lower with respect to daily volume... Not what you would expect after a Holiday if it was "business" as usual...

I think we are getting close - I agree though - if no RV on Monday, I will be acquiring more Dinar Tomorrow... so much stuff I could do without around my house :lol:

-Fresh

[Dinar Team]

Good strategy Doc31 .. keep buying until RV.

[lumpsum]

Reading your posts is like getting the morning paper...it's a nice way to start off my day.

Thank you Doc!

[ktlamm]

Thanks alot Doc... God bless

[Iwantcheesecake]

Thank for the post!

[lechesuerte]

Thanks Doc.

[Doc31]

Doc I noticed on CBI site this morning they are now posting SDR rates as well.....I never noticed it before and would appreciate your input on it. Have you seen it before??

If you are referring to the SDR listed at the bottom of the CBI's IQD vs other currencies table (upper right side of website) then I simply don't remember whether it was there previously or not ... I don't often look at this chart as it isn't updated often enough to suit me.

Now ... SDR's ... you are opening a real can of worms here ... I would direct you to http://en.wikipedia...._Drawing_Rights because no matter how much effort I put forth trying to explain it there would be a host of "who cares about a has been theory" or we'd hear from our conspiratorialist friends or worse. I've made reference to them but declined to comment on them a couple of times for this reason.

Now that I've had my coffee and I'm wide awake ... lol ... I was considering writing an over-simplified explanation that would be easy to see why it exists and how it is used ... but as I sat here composing it ... I realized that it would be a gross error in judgement!

I know that you didn't ask for an explanation ... but if you noticed its presence ... I assume that you have some interest in the SDR. If so, either read the link above or if you feel that you can explain it simply and effectively ... start a thread of your own ... and God bless you ... lol!

That said ... GrooveGal or Scooter could probably give you a simplified explanation.

Regardless ... peace to all

Doc31

[Eddinar]

Great updates every day Doc....much appreciated...they obviously don't want to give away free money....for the last 29 days.... IMO something has to give sooner rather than later...

[Doc31]

Great updates every day Doc....much appreciated...they obviously don't want to give away free money....for the last 29 days.... IMO something has to give sooner rather than later...

Agreed ... Go RI/RV!

[brichards513]

Thanks Doc for all of your efforts and for sharing with all of us on DV. I look for your post every day to see if the zero cash days have continued. I agree with you - something has to give real soon!

God Bless.

Go RV!

[Blackhawk Bob]

Thanks Doc. Your posting this info, on a daily basis, lets us know you're ok & keeps a sense of stability for some of the DV folks! Way to go; enjoy seeing the post!

[WhiteKnight]

I am new to this what does "Zero Cash Days 29 straight" mean?

[shawn3604]

Thanks doc

[Doc31]

I am new to this what does "Zero Cash Days 29 straight" mean?

There is not a short answer ... been doing this for weeks. Click on my screen name ... click "find topics" ... you'll see the progression (in reverse order) start near the beginning ... it's just too much info to rehash.

Peace

Doc31

[MarineDad]

Thanks for the info.