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CBI Currency Auction 12 31 2010

Doc31

By Doc31,
in Iraq & Dinar Related News

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Doc31 Newbie

Doc31

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No, it's Friday in Iraq there is no auction ... just a longer than expected commentary. Caffeine deficient ... and rushed ... proceed with caution!

Currency Auctions

Announcement No. (1805)

The latest daily currency auction was held in the Central Bank of Iraq on the 30-DEC-2010.

The results were as follows:

DetailsNotesNumber of banks10

Auction price selling dinar / US$1170

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

Amount sold at auction price (US$)108,400,000

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

Total offers for buying (US$) 108,400,000

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

Exchange rates

Dollar's exchange rates / in Baghdad markets

Spot oil~$90.23 off a bit and sliding gradually ... my guess is end of the year exits for traders and speculators

Spot Gold $1412.40 ... still running in that $14 channel

Zeroes (or near zeroes) ... what is it 56? ... the cash portion of the auction was 450K (miniscule), Oil is still hovering near $90 even in the EOY environment, Gold insane ... the pieces necessary to do it are there ... we just need "S"omeone to pull the trigger. It's a holy day in Iraq ... while I don't pretend to know what all a muslim country's customs are , what I do understand leads me to believe that unless something extraordinary happens ... I'm not looking for it today.

Okay ... "Doc, what's up? That's yesterday's CBI post" ... yep, I know ... Yabadabado posted it last night ... good find I was spending time with my wife (all our guests are back home ... safe and sound). The reason I posted this follows.

Now, I know that you've noticed a lot of weird things lately ... let's take a peek at a few

1) CBI site down for exceeding bandwidth last weekend ... ok ... maybe

2) CBI site down again for exceeding bandwith yesterday ... although "hits" graph was down from the high and apparently more bandwidth was acquired

3) excuses can be made for last weekends 4 days to correct (Christmas holiday) ... yesterday? ... no ... the process is discovery, obtain credit card then it takes 30 seconds to fix ... I told you yesterday that if it wasn't fixed in "a few hours" that I wasn't buying there nonsense

4) there is a post yesterday where someone apparently contacted the Houston host ... I can't find it but the long and short of it is that the site administrator (Liz) claims that they are perhaps too small for the amount of traffic that the site is attracting ... please ... I've a friend with a small business just like this ... he says that the chance of a site crashing today even if they are so small that they are a VPS provider with a Server Administrator and a Root Server Provider are remote. He pointed out that the "Bandwidth Exceeded" banner is NOT an automatic response by server software but placed physically by someone. A few years back companies sued when their sites went down so EVERY effort is made to prevent this including calling, temp service, and gratis service as it is cheaper than court.

5) when the site does come back up it is missing 12 30 2010 info

6) when it does come back up the copyright at the bottom is now 2011 ... nice catch MrBraun ... yes I understand that it takes about 30 seconds to change and repost ... the point is that it WAS done AND that they didn't bother updating the auction info (come on ... there's bound to be a conspiracy theorist that is willing to jump all over this ... lol ... they changed the website)

Sorry, I got carried away ... all that I'm saying is this ... look, there's a concerted effort to keep us in the dark ... imagine that ... period.

I just checked the stock market holidays and they don't indicate an early close. Futures are mixed regular and early closes.

Don't be surprised if you see a sell-off as I told you last week ... the period between Christmas and New Year is often a "strange time" as traders and speculators position, re-position, get out while they are on EOY vacation, or simply exit to uncomplicate EOY accounting.

Remember, I said months ago that the reported windfall taxes attached to Obamacare has nagged at me since June/July (? ... a long time) ... a 2010 RI/RV now will precipitate a 2011 cash out ... we will see if I was right to be concerned about its influence (didn't/don't want to be).

Questions unanswered:

1) Paris Club Debt ... AND is there really a 3X penalty for failure to complete the task in 2010? Documentation please.

2) ISX ... "we don't need no stinking ISX" ... don't bet on it ... talk to Thompson-Reuters

3) whatever happen to that $195B Nov 2nd deadline ... where's the DOCUMENTATION of extension or whatever

4) With a reported 4200(?) secret police will al-Maliki turn out to be the new "Saddam du joir" only with a seemingly democratic government behind him?

5) 2010?, 2011?, 2012? (God forbid)

6) will the Iraqis really try to sell the world that they are able to run a government on colored toilet paper ... apparently, until they RI/RV the UN and IMF aren't giving them money/loans

7) ... (this is where you tack on more unanswered questions)

Look ... there is nothing that we can say or do to help or hinder what is going on in Iraq as a result of world pressure, internal pressures, and "other" forces. The plan will unfold as it is supposed to.

Once again, I want to thank the men and women of the armed forces who selflessly defend our nation and afford us the rights and priveleges that I so dearly cherish. To you and your families I say "Thank YOU" for another year of those precious things ... be safe, be happy, and be prosperous in this New Year.

Peace

Doc31

PS ... here's the CBI site info http://sitetrail.com/cbi.iq

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BamBam Newbie

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Okay Doc, you're holding back! What about the GCC, CMXX, or whatever? Ambassadors, diplomats, etc., are all pouring in Iraq? Why? It's gonna blow wide open, that's why. Okay my spell check isn't working. Anyways, how about that question the fellow had about "are you going to still post the auction report after RV? Come on, really? Let me ask for those curious? Are they selling, (auctions), Dinar? I know the answer, but please enlighten the newbies and oldies once more about "what" they are buying and selling at auctions everyday. Include why you think dealers are able to get their hands on Dinar. That's No.7, nuff said! God bless!!

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Doc31 Newbie

Doc31

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Okay Doc, you're holding back! What about the GCC, CMXX, or whatever? Ambassadors, diplomats, etc., are all pouring in Iraq? Why? It's gonna blow wide open, that's why. Okay my spell check isn't working. Anyways, how about that question the fellow had about "are you going to still post the auction report after RV? Come on, really? Let me ask for those curious? Are they selling, (auctions), Dinar? I know the answer, but please enlighten the newbies and oldies once more about "what" they are buying and selling at auctions everyday. Include why you think dealers are able to get their hands on Dinar. That's No.7, nuff said! God bless!!

Sorry BamBam ... I covered it weeks ago but folks can go to my profile, click "find topics", and go backwards in the posts ... it's all in there ... but I've been writing about this for what 10 - 11 weeks ... I just don't have the time.

BamBam I like your "unanswered questions" ... folks keep going!

Oh, the guy who asked "am I going to post after RI/RV" question is a long-time friend who lives a few miles from me ... my best guess is two fold ... 1) he is being funny (because he knows that I won't) and 2) the post had fallen low on the "what's new" list and he bumped it back up so folks could find it (I'm guessing but pretty sure ... he's a good friend).

Peace

Doc31

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pureau79 Newbie

pureau79

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No, it's Friday in Iraq there is no auction ... just a longer than expected commentary. Caffeine deficient ... and rushed ... proceed with caution!

...

Once again, I want to thank the men and women of the armed forces who selflessly defend our nation and afford us the rights and priveleges that I so dearly cherish. To you and your families I say "Thank YOU" for another year of those precious things ... be safe, be happy, and be prosperous in this New Year.

Peace

Doc31

PS ... here's the CBI site info http://sitetrail.com/cbi.iq[/b][/size]

Doc31, I must say that of all the posters I tend to read on this site, yours is the one I consistently rely on for a non-biased and level headed approach to the entire subject of IQD.

Thank you very much for the time and effort you put into this thing and thank you for consistency.

May the New Year bring you much peace and blessing.

That blessing is extended by proxy to everyone reading this post. Thanks all...

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tevye02 Newbie

tevye02

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Thanks Doc! I have been extremely busy withend of year issues at work and home. I rest easy knowing guys like you (that I trust) are watching and can keep me informed until I can get some research time back. Hope I can return the favor some day.Thanks to you and all the others for the info.

Happy New Year!

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Trimark Newbie

Trimark

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Thanks Doc as always for the great work. Your post is the first one I read every day. :tiphat:

Regarding the CBI website, I had a hosting company in the past. Although not nearly as much fun as the speculation there very well could be an innocent 'non-RV' related cause of the error.

For example:

The bandwidth error could have been legitimate and my guess is that is probably was (the graph could have been wrong or on a delay.)

Although it's true that the website owner has to pay for more bandwidth if he's over the limit, that can be tricky depending on the host being used and the amount of bandwidth required. For example, the hosting provider cbi uses is likely not an end provider. That host likely bought bandwidth from another company who bought it from another company and so forth. There could be 4 or 5 companies it goes through before it gets to him. In other words, he may have a limit to his bandwidth and may need to get more from up the line which may have limits and so forth. As someone mentioned earlier, there is no such thing as unlimited bandwidth regardless of what companies advertise.

The site could be on a virtual server with other web sites (likely) and depending on how the server was set up the huge mass of traffic to the cbi's website could have caused server instability. There may not have been load balancing set up on that server so that the server could handle masses of people descending on it at once. In most cases of servers set up with a bunch of small static websites like cbi's website is, there is no need for load balancing.

The bandwidth error page is likely automatically set as the default page by the web host when there is an error related to too many people accessing the server. Although someone set up that page initially when the server was set up it can appear automatically when a certain website's resources are maxxed out or getting close to causing server instability. In other words, every time they exceed bandwidth or cause the server to get to dangerous overload levels, the offending site is automatically 'paused' and an error message posted. Someone doesn't manually have to go in and post the page saying bandwidth has been exceeded.

The webmaster was probably alerted that there was a problem with the website and when he went to look at the site just changed the copyright date when he was in there. That is something most webmasters do when the year changes for all of the websites they control so while he was in there could have just changed it over. That is just routine maintenance that most webmasters do. That is not something the cbi would tell him to do as most website owners don't even think about things like that. In other words, I wouldn't read too much into the fact the copyright date changed but the auction info wasn't updated.

These are just a few of the possible explanations for what we are seeing on the website. While I would LOVE to think it was something related to the RV -- as I am beyond ready for the RV to happen -- from being around websites and severs for so long I think the website issues we have seen are just normal happenings and not RV related.

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