CBI Currency Auction 12 12 2010

[Doc31]

Currency Auctions

Announcement No. (1792)

The latest daily currency auction was held in the Central Bank of Iraq on the 12-DEC-2010.

The results were as follows:

DetailsNotesNumber of banks21

Auction price selling dinar / US$1170

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

Amount sold at auction price (US$)201,508,000

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

Total offers for buying (US$)201,508,000

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

Exchange rates

Dollar's exchange rates / in Baghdad markets

Spot Oil~$88.58 close on Friday ... some end of week sell-off

Spot Gold $1385 close on Friday ... tumbled earlier in the day then bounced

Zeroes ... not reporting again ... no, sometimes they do, sometimes not until Monday (last week what was it Wednesday?) ... so I'm calling it 42 but expecting today to be another zero or negligible cash day on a big volume day ... the obvious truth is that they've had to make some sort of minor adjustment but its volume, with so many banks participating is statistically "nothing" ... the real question seems to be: is this an active (planned) posture or are they simply unable to do anything else (with the corner that they've painted themselves into)?

I have a question of my own ... is has been widely reported that "the 15th is the day ... but if it's not ... kick back for the holidays because it won't happen until 2011".

Wellllllllllllllllllllllllllllllllllll, okay but what about the 25th/26th mandate? Wouldn't that mean that they have to either:

1) ignore the 25th/26th mandate by Talabani which came from the high court ... they ARE arrogant ... they haven't "acted out" so much lately ... or

2) ask for and get an extention ... unlikely IMO (see "stick" below) ... or

3) Allawi would get another shot at it because al-Maliki failed ... IMO constitutionally, that can't happen ... and as al-Maliki is concerned ... "when pigs fly" ... or

4) the high court calls for NEW ELECTIONS ... yes, an awful thought and a very low % chance IMO because al-Maliki again ... "snow-cones in hell" ... or

5) RI/RV

Here's the problem with failing to meet the mandated date ... it seems that the IMF/UN/UNSC has adopted the "carrot and stick" posture that has worked so well for Kuwait. Iraq asked for more loan money ... it was refused ... they were told to form/name/seat GOI and that nothing else would be forthcoming until they do and "oh, by the way, the extention of the protection on the DFI funds that we agreed to through December 31, 2011 ... we've shortened it to six months!"

IMO ... the "full court press" now has teeth ... I've been saying for a year now that until they quit giving them money and made them answer for their actions that the Iraqis would continue to pull the lever on the "rigged" one armed bandit ... pull the arm ... get money ... embezzle, redirect, misdirect funds, misappropriate and arrange "magical" disappearances of money intended to help the Iraqi people ... live large in the green zone ... build a hotel ... I digress

I don't know folks ... you know I don't rate or date ... I'm a math and patterns guy so I work on probabilities ... high oil, high gold, zero cash (oversimplified ... hoarding USD and IQD), no more loans, punishment for failure ... to me the probability is high ... very high ... it is most certainly a "maybe" date.

The only thing that has nagged at me for 9 months is Obamacare and the reported "windfall tax" laws attached to it. If it contains a definition of what IQD holders ARE according to the IRS (the Bush tax cuts were to offset "Slick Willie's" tax hikes and were prior to 9/11 ... I'm certain that they don't define physical currency holders of a nation with a pinned currency) then that is the only reason that I can see that it will wait a few more weeks ... I know! ... I want and need it as well ... and it could be meaningless ... it has just nagged at me all this time and hasn't let up.

Now, I was sorry to see an auction today since I am a Zantac (minimum)48 hr cessation of sales prior to RI/RV guy.

Remember what I tell my group ... no I wasn't going to say I'm not your Mom! ... lol. I was going to say that there were probably 100,000 things that had to happen for the RI/RV to take place ... I knew 8! Now that all 8 have taken place that I knew of ... the question is how many more things are left to do? What's the actual count? Wouldn't it be nice to have a countdown counter? And that's the point ... stay grounded ... keep your chin up ... it's coming ... when? ... apparently that is up for debate.

As always ... Peace

Doc31

[Biker girl]

Thanks again Doc !!!!

[DarkStarrDinar]

Thank you for all the info.When the ship sails we will all be on board, with spirits in hand and blessings upon us. GOOOOOOORRRRRRVVVVVVVV

[Loggerjohn]

What is this "windfall tax" you are referring to and where can we find it? Thanks for the post.

[Silhouette]

Interesting read...thanks for posting Doc!

[onerighthand]

What is this "windfall tax" you are referring to and where can we find it? Thanks for the post.

Thanks for the post.

The windfall tax is the tax imposed that a game show or lottery winner might get. The current government is rumored to be trying to raise it. Not that this is the case now with this venture, but I have heard of lottery winners giving up something like 50 percent when done. who knows what it will be. Don;t freak out. May not be that bad, or will it?

[GO RV!!]

NIce post Doc! How much coffee did you have in you when this was posted??

- Fresh

[Traconesu02]

Thanks for the post Doc31

[jte70]

What is this "windfall tax" you are referring to and where can we find it? Thanks for the post.

Since 1988, no windfall profit tax has been enacted in the U.S., however, when gas prices once again reached record levels there was renewed pressure on the U.S. government to bring back the tax. At least nine bills that purported to tax windfall profits of crude oil producers were introduced in the 110th United States Congress during 2007-08 (HR 1500, HR 2372, HR 5800, HR 6000, S.1238, S.2761, S.2782, S.2991, S.3044) .

source: http://en.wikipedia.org/wiki/Windfall_profits_tax

[SuperFlyJr]

Thanks, Doc31!

[Soldier]

In my opinion I don't think they want to meet the mandate. I agree that most countries want an RV. I don't think Iraq does. So to prolong it they have intentionally failed and postponed so many times that most everybody included countries never thought that it was a realistic possibility.

To many times what you guys don't understand and why you hate my screen name, A/C is that we have information that is straight from Iraq. Boots on the ground so to speak. But what is really happening in Baghdad is really nothing. Banks aren't plentiful enough to help enough people. The CBI hasn't received any responses from outside banks to set up shop. ATM's are out there but not plenty enough to accommodate the masses. The people aren't prepared enough in consideration to goods like (Food, Gas, Housing).

What you people have to remember is that the RV is suppose to help Iraq, not us. The intentions of an RV is to adjust their currency w/ the true value of the wealth of Iraq. Even though they have sign some major oil contracts. There isn't any other jobs that are out there. Their people are uneducated, inexperienced and have only known war suppression for decades. Can you imagine what they would do if they would RV before the people of Iraq were ready. After watching this website for a year and a half I have come to figure out that it will be like a bunch of you. You will get all this money, piss it away, and have nothing to show for it. Than you will live of the government and complain that there not doing enough to support you when you should have taken that money and educated yourself, started a business or invested properly.

I'm not meaning to down anyone on here except for the lairs. My true sources are not from Kuwait, UAE, Jordan, etc. They come from American's who are there at the Green Zone and deal with these people everyday. In the overall reason that you have not seen an RV is because of one simple thing. There not ready. The people of Iraq have to overcome more to ensure when it does happen everybody is prepared and there intentions are whats best for Iraq. Not some of you who have never stepped foot in Iraq, but just hope to get rich off of others sacrifices. You want them to speed up the process. Go to Iraq and get involved and help make it a better place. There are tons of things americans can help out with over there. If that's not for you. Quit your ***iching and complaining and quit listening to the liars giving you false hope.

[doc9574]

and I suppose you wont profit off of other peoples sacrifices, your just on here out of the kindness of your heart and when it rvs you will give all of your money to the families of those who sacrificed. NOT!!!!! and I even agree with you soldier, Iraq has a lot to do much like america after the civil war and have stated that in the past but you have some idea like you are superior to people and you have no tact or compassion, like your the only one who has sacrificed. Get off the cross we need the wood and if you dont like people b*****ing then leave your self rightous anger is old

[steveo]

i too agree iraq just isnt ready yet.....and i cant see this rv happening in the near future thats just my opinion......get on with ur life it will happen when it happens

[onerighthand]

and I suppose you wont profit off of other peoples sacrifices, your just on here out of the kindness of your heart and when it rvs you will give all of your money to the families of those who sacrificed. NOT!!!!! and I even agree with you soldier, Iraq has a lot to do much like america after the civil war and have stated that in the past but you have some idea like you are superior to people and you have no tact or compassion, like your the only one who has sacrificed. Get off the cross we need the wood and if you dont like people b*****ing then leave your self rightous anger is old

Too harsh!

Just because he has some dinar, doesn't mean he wants it all to fall apart for Iraq. There is a lot of truth in his statement. I have seen many members on here that would not give a rats a$$ if Iraq fell apart after, as long as they got their fist full of dollars. Sometimes it is like a bunch of rabid dogs fighting over a scrap of food. I remember being ridiculed for having money in Warka when the false rumor came out that Warka had collapsed. All the newbies and oldies jumped on the band wagon and started ripping at the flesh. I own some dinar also, but would seriously feel bad if this caused major problems for the people. Boots on the ground carries a lot of weight with me as it does to any commander. It is real observation that matters, rather than assuming and guessing, and thank you for your service, Soldier. I know a few that re-enlisted for the right reasons and it does happen.

[frankc]

In my opinion I don't think they want to meet the mandate. I agree that most countries want an RV. I don't think Iraq does. So to prolong it they have intentionally failed and postponed so many times that most everybody included countries never thought that it was a realistic possibility.

To many times what you guys don't understand and why you hate my screen name, A/C is that we have information that is straight from Iraq. Boots on the ground so to speak. But what is really happening in Baghdad is really nothing. Banks aren't plentiful enough to help enough people. The CBI hasn't received any responses from outside banks to set up shop. ATM's are out there but not plenty enough to accommodate the masses. The people aren't prepared enough in consideration to goods like (Food, Gas, Housing).

What you people have to remember is that the RV is suppose to help Iraq, not us. The intentions of an RV is to adjust their currency w/ the true value of the wealth of Iraq. Even though they have sign some major oil contracts. There isn't any other jobs that are out there. Their people are uneducated, inexperienced and have only known war suppression for decades. Can you imagine what they would do if they would RV before the people of Iraq were ready. After watching this website for a year and a half I have come to figure out that it will be like a bunch of you. You will get all this money, piss it away, and have nothing to show for it. Than you will live of the government and complain that there not doing enough to support you when you should have taken that money and educated yourself, started a business or invested properly.

I'm not meaning to down anyone on here except for the lairs. My true sources are not from Kuwait, UAE, Jordan, etc. They come from American's who are there at the Green Zone and deal with these people everyday. In the overall reason that you have not seen an RV is because of one simple thing. There not ready. The people of Iraq have to overcome more to ensure when it does happen everybody is prepared and there intentions are whats best for Iraq. Not some of you who have never stepped foot in Iraq, but just hope to get rich off of others sacrifices. You want them to speed up the process. Go to Iraq and get involved and help make it a better place. There are tons of things americans can help out with over there. If that's not for you. Quit your ***iching and complaining and quit listening to the liars giving you false hope.

I don't buy your argument. You said it yourself, Iraqi's are so poor there is no commerce/jobs opportunities other than the oil business. An RV would put money in their pockets to start new business's and open endless employment opportunities. Look at neighboring countries. They are prospering. Iraq can too if the controlling, greedy govt's strangle hold is crushed which this RV will accomplish. People with money spend and develop and hire. That is why this needs to happen now, not later. To say they aren't ready is nonsense. They have never been more ready. Gee, what a problem to have...to get money in the hands of the people so the healing can begin.

In my opinion you couldn't be more wrong. An RV now makes perfect sense.

[xxxgator]

i'll have to disagree,Soldier it's not about the people of Iraq or the Us. It's about the Us. government having a way to pay back the money the war machine spends!!!!!!!!!! Just like the marshal plan in germany.The iraqi government might be looking to help it's people but it's main concern is the survival of it's country in the world .To keep it veiwed in the Arab community as strong otherwise it'll be named The Iranian expanded teritories.I obviously think your right in your statements about the Iraqi people but world governments will not let this delay.Too many economies on the line, including Iraq's.The european union is in a tailspin and the Us. has been in Recession for at least 4 to 5 years.The iraqi people may not be ready , but world government's are bending over backwards to make this happen.Examples: forgiveness of great amount's of debt, willing ness to help them out of chapter 7 , signing oil contracts and construction contract's for future buisness in iraq.No country will do buisness with a country whose money is worthless.Another words they would be paying in USD on those contract's not IQD.The iraqi government doesn't need to rv for it's people's personal sake as much as the country's ability to buy, sell and trade with the world ,to rebuild the country for the people.Shabibi has stated the banking system is a go as soon as the government is in place and says go!It may not happen the 15th but it must happen before the end of the year for many reasons.I beleive we are seeing it all flow as it should now.Rest assured Maliki does not want to lose this opportunity.I watched a show last night on the history channel on the Presidential book of secret's.On the show they actually talked about the situation room and how it has vidio conferencing screens that were installed for president GW Bush because he stated he didn't like talking on the phone to Maliki but wished to look him in the eye when they spoke every couple of days for the latest progress report's.So make no mistake the US. is still steering the ship and won't let go of the helm until they acheive the rv.Peace Good post DOC

[zantac]

Great post once again Doc31.

Need help?

Why would S go public with the link below but the Auction still continue.

http://international.daralhayat.com/internationalarticle/209621

Just don’t get why this was released to the press.

Maybe the first part is S but then the middle part is a statement by Mohammed Saleh

Having said that it does say announced & if it were BS Shabibi would not allow his name in the article.

Bugging me since the time I read it

[Doc31]

Great post once again Doc31.

Need help?

Why would S go public with the link below but the Auction still continue.

http://international...larticle/209621

Just don’t get why this was released to the press.

Maybe the first part is S but then the middle part is a statement by Mohammed Saleh

Having said that it does say announced & if it were BS Shabibi would not allow his name in the article.

Bugging me since the time I read it

Me too