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CBI Currency Auction 12 16 2010

Doc31

By Doc31,
in Iraq & Dinar Related News

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Doc31 Newbie

Doc31

Posted
Posted

As I was looking over the news this morning before posting I saw a CBI post and thought ... oh, someone has already posted it ok ... now I had NOT had any coffee at this point and had indeed forgotten Ashura was today when I was met by this question from Qman ...

Anybody know why no sale today at the CBI?

I remembered the answer with the brain cell or two that operates without caffeine and scrolled down to answer ... as I did I saw this and responded ...

In one of Doc's earlier posts this week ,he explained that the next 48 hours (thursday and friday ) the banks in Iraq are closed for the holiday , so this could be the 48 hour window with no auctions that we are looking for ( and I stress , might be !) The 48 hour , no auction window is thought to be needed to reset the network for the RV to take place , so , if true ,that " COULD " ( not definitely ) bode well for this weekend biggrin.gif . Let's hope so !

Uncle Barkie smile.gif

Actually I'm not that good ... lol ... I suggested that ANY Friday and Saturday constitutes a 48 hour time frame and wondered if that was enough ... but thanks for the plug thinking I was so smart as to put this 72 hr time frame together with the Ashura holiday Uncle Barkie ... biggrin.gif

I'll be posting something on DV in a little while or everyone will be asking the same question in PM's, emails and phone calls.

Peace to all ... and thanks again Uncle Barkie

Doc31

So without giving Uncle Barkie any credit whatsoever for his thoughts ... lol (anyone who knows me knows I love good ideas no matter the source and am delighted to give credit where credit is due) ... the question is: Does the 72 hrs. surrounding Ashura and the coming weekend offer the CBI the time that we understand that it needs to get everything in order OR is this just another coincidence?

The time frame is right apparently ... it remains to be seen whether or not it is coincidence or not ... waiting until Sunday/Monday to see if there are auctions should do it.

I have had tons of calls, emails, and PM's asking my take on the UNSC meeting yesterday. The first one went something like this, "are we better off or worse off now?"

My answer might sound evasive but it's how I think things out. I told him that since pretty much everything that they released them from was covered by Frank26 the night before in his post, it was indeed like a banana where they had peeled back this section, then that one and then one more. They did NOT IMO peel the last section off and give them the banana ... and that's good for us. They held onto Chapt 7 and from my perspective "used" the Kuwaiti's as an excuse ... wasn't it last week that they told Kuwait to stop their whining ... it had already been settled what they were getting and to just live with it (obvious paraphrase ... don't ya know)?

They also stated that the Iraqis needed to improve "human rights" (Christians being slaughtered, muslims of different sects murdered, etc) and improve "welfare" to the poor (SmartCards I'm guessing? but possibly just a side note to let them know that they have to stop misappropriating $$$ to live large in the green zone.

The thing that troubled me was releasing them from "food for oil" (because I havent' looked at it in a long time and don't recall all of the details) which I thought would enable them to begin commerce ... although how you do that with colored toilet paper is beyond me (hint, hint). Correct me if I'm wrong, but doesn't that start Dec 31st ... with colored toilet paper? (more hint, hint ... oh, I'm not telling you that this is going to happen ... just what it SEEMS that THEY are telling us ... this is Iraq folks ... they seem to be able to screw up anything!)

Two important things that they did, IF I remember correctly, is 1) to state into the record the protection of the DFI funds through June (not December ... I covered this in an earlier post) and 2) and I think the most important, they extended the Chapt 7 deadline until June as well.

The last one is the one that I got the most questions on ... with folks almost always presuming that this means that it won't RI/RV until June. Let's look at the previous example. From documents/articles viewed months and months ago we came to the conclusion that April 15th was the original day laid out by the architects of "the plan" with a "drop dead" date of June 15th in case a problem arose ... according to the zeroes the Iraqis NEVER intended to RI/RV on April 15th ... June 15th is a different story, it looks as though Shabibi got all set up to do it ... and we can now see why the Chinese and various corporations began screaming like a scalded cat! At THAT time Chapt 7 had an end date of Dec 31, 2010 ... a catch-all date that it would simply go off the books ... all leverage by the UNSC would cease. By extending it until June ... basically, it is the same time frame as the previous one from the "drop dead" date. June 15th to Dec 31 is roughly 6 months 16 days. Dec 15th to June 11th (was it?) is nearly identical. From my point of view ... that would say that they expect the RI/RV very soon. And indeed Foreign Minister Zabari used those very words in his speech ... "very soon", "imminent", etc. when describing how long he expected for it to take for the GOI to be formed and all of the programs that needed improvement, as voiced by the 15 panel members, to be taken care of (which would require RI/RV).

Additionally, much has been made of al-Maliki telling Talibani that he'd do it by the 15th ... no the 10th ... no the 8th. I don't think that he actually was able on the 8th, possibly on the 10th, and definitely on the 15th. Originally, I despised his arrogance telling the world that he wanted to review the last nominee(s) qualifications over the weekend ... then I thought about it and realized that he was probably just adhering to the addage that "he who names his price first ... loses". He was simply waiting for the UNSC to show their cards before he did ... it's the smart play ... why give up something you don't have to and by waiting you'll know.

For instance ... what if the UNSC had NOT extended the Chapt 7 date? Would Iraq have been released from Chapt 7 by a clerical/panel error/miscalculation/blunder? Ohhhhhhhhhhhh ... wouldn't that have been a catastrophy? IMO Iraq would have never done what they are supposed to.

Wow ... this is not at all what I wanted to cover ... I actually have a few questions that I wanted to pose ... but this is soooooooo much longer than I thought ... my apologies ...

Quick summary: They gave away some livestock but they didn't give away the farm!

Spot Oil~$89.38 up almost $1 since yesterday

Spot Gold $1363 ... tanked on NY open

No CBI currency auction today ... Holiday ... Ashura

Peace to all

Doc31

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sonny1 Newbie

sonny1

Posted
Posted

As I was looking over the news this morning before posting I saw a CBI post and thought ... oh, someone has already posted it ok ... now I had NOT had any coffee at this point and had indeed forgotten Ashura was today when I was met by this question from Qman ...

[/size]

I remembered the answer with the brain cell or two that operates without caffeine and scrolled down to answer ... as I did I saw this and responded ...

So without giving Uncle Barkie any credit whatsoever for his thoughts ... lol (anyone who knows me knows I love good ideas no matter the source and am delighted to give credit where credit is due) ... the question is: Does the 72 hrs. surrounding Ashura and the coming weekend offer the CBI the time that we understand that it needs to get everything in order OR is this just another coincidence?

The time frame is right apparently ... it remains to be seen whether or not it is coincidence or not ... waiting until Sunday/Monday to see if there are auctions should do it.

I have had tons of calls, emails, and PM's asking my take on the UNSC meeting yesterday. The first one went something like this, "are we better off or worse off now?"

My answer might sound evasive but it's how I think things out. I told him that since pretty much everything that they released them from was covered by Frank26 the night before in his post, it was indeed like a banana where they had peeled back this section, then that one and then one more. They did NOT IMO peel the last section off and give them the banana ... and that's good for us. They held onto Chapt 7 and from my perspective "used" the Kuwaiti's as an excuse ... wasn't it last week that they told Kuwait to stop their whining ... it had already been settled what they were getting and to just live with it (obvious paraphrase ... don't ya know)?

They also stated that the Iraqis needed to improve "human rights" (Christians being slaughtered, muslims of different sects murdered, etc) and improve "welfare" to the poor (SmartCards I'm guessing? but possibly just a side note to let them know that they have to stop misappropriating $$$ to live large in the green zone.

The thing that troubled me was releasing them from "food for oil" (because I havent' looked at it in a long time and don't recall all of the details) which I thought would enable them to begin commerce ... although how you do that with colored toilet paper is beyond me (hint, hint). Correct me if I'm wrong, but doesn't that start Dec 31st ... with colored toilet paper? (more hint, hint ... oh, I'm not telling you that this is going to happen ... just what it SEEMS that THEY are telling us ... this is Iraq folks ... they seem to be able to screw up anything!)

Two important things that they did, IF I remember correctly, is 1) to state into the record the protection of the DFI funds through June (not December ... I covered this in an earlier post) and 2) and I think the most important, they extended the Chapt 7 deadline until June as well.

The last one is the one that I got the most questions on ... with folks almost always presuming that this means that it won't RI/RV until June. Let's look at the previous example. From documents/articles viewed months and months ago we came to the conclusion that April 15th was the original day laid out by the architects of "the plan" with a "drop dead" date of June 15th in case a problem arose ... according to the zeroes the Iraqis NEVER intended to RI/RV on April 15th ... June 15th is a different story, it looks as though Shabibi got all set up to do it ... and we can now see why the Chinese and various corporations began screaming like a scalded cat! At THAT time Chapt 7 had an end date of Dec 31, 2010 ... a catch-all date that it would simply go off the books ... all leverage by the UNSC would cease. By extending it until June ... basically, it is the same time frame as the previous one from the "drop dead" date. June 15th to Dec 31 is roughly 6 months 16 days. Dec 15th to June 11th (was it?) is nearly identical. From my point of view ... that would say that they expect the RI/RV very soon. And indeed Foreign Minister Zabari used those very words in his speech ... "very soon", "imminent", etc. when describing how long he expected for it to take for the GOI to be formed and all of the programs that needed improvement, as voiced by the 15 panel members, to be taken care of (which would require RI/RV).

Additionally, much has been made of al-Maliki telling Talibani that he'd do it by the 15th ... no the 10th ... no the 8th. I don't think that he actually was able on the 8th, possibly on the 10th, and definitely on the 15th. Originally, I despised his arrogance telling the world that he wanted to review the last nominee(s) qualifications over the weekend ... then I thought about it and realized that he was probably just adhering to the addage that "he who names his price first ... loses". He was simply waiting for the UNSC to show their cards before he did ... it's the smart play ... why give up something you don't have to and by waiting you'll know.

For instance ... what if the UNSC had NOT extended the Chapt 7 date? Would Iraq have been released from Chapt 7 by a clerical/panel error/miscalculation/blunder? Ohhhhhhhhhhhh ... wouldn't that have been a catastrophy? IMO Iraq would have never done what they are supposed to.

Wow ... this is not at all what I wanted to cover ... I actually have a few questions that I wanted to pose ... but this is soooooooo much longer than I thought ... my apologies ...

Quick summary: They gave away some livestock but they didn't give away the farm!

Spot Oil~$89.38 up almost $1 since yesterday

Spot Gold $1363 ... tanked on NY open

No CBI currency auction today ... Holiday ... Ashura

Peace to all

Doc31

[/b]

doc, i realy like all the work you do........thanks bud.....

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lancer22 Newbie

lancer22

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Posted

thanks Doc. I think we need to watch the 2 state banks. That was one of the IMF sticking points is that they had not adjusted their balance sheets and they needed to do this before all sanctions would be released. Of course the GOI formation is foremost to this but still it (state banks) needs to be part of the equation IMO.

LCr

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