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CBI Currency Auction 1/7/2011

Doc31

By Doc31,
in Iraq & Dinar Related News

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Doc31 Newbie

Doc31

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It's Friday ... so the news is that "there is no auction today". Just a reminder ... if I don't I get calls, emails, and texts!

xnummx.jpg

Oil is off although not in the $70somethings or the low $80somethings.

Gold did another nose-dive this morning dropping over $15 (more than 1%) after the Hong Kong open but has almost recovered at this hour.

It's Friday and we might see a sell-off starting about 11am (Europe) until close ... do NOT set your watch by that ... I haven't even looked at the stock and commodity calendars ... it could be a buying spree just as easily ... just sayin'! I know that there a lot of people looking toward Monday ... that is why I pointed this out. A major drop in oil would perhaps give us a hint (the carrot is gone and the stick is front and center). However, we've all seen it drop $2 in a couple of hours and go back up $3 just as quick.

Folks have suggested to me that gold dropping is a good sign ... I understand the inverse relationship to the strength of the dollar but until we actually see the USD look like a bottle rocket I'm going to just keep an eye on it. I am not a gold buyer at this price ... I've told you that before. Positioning ... now that's much more likely as the real metals traders swap sides of the trade ... perhaps.

There's an article on the Kuwaiti media delegation showing up in Iraq for you conspiracy theorists.

There's an article confirming the IMF SDR announcement next Monday for you purists.

I thought that I would tell you how I got into posting the CBI Currency Auction ... it's because no one wanted it ... at all! When I first began posting it ... inevitably, someone would post, "IT HASN'T CHANGED IN 4 YEARS ... MOVE ON!" I realized that folks didn't understand it's relevance. So I explained it (simply) ... but more importantly (at least I think so) is it's relationship (in our investment) to Oil and Gold. That's why I began posting them together. When the zeroes appeared that was a whole different ballgame. I know that some think that zeroes have come and gone ... I'm of the persuasion that it continues to attest to a very real problem and it tells us a story that the Iraqis really do have to do something and do it in the near future. IJMO ... I'm not your Mom ... you decide for yourself.

Anyway, I told you that we have a small group in SW Florida and we purchase collectively to lower costs for ourselves ... well, that means that I have people ... who have people ... who have people ... you get the idea ... and so I am always ask questions. I end up answering the same questions dozens of times. It occurred to me that folks on this site might have the same questions when I began getting PMs, emails, and calls ... so I began to write what I saw from the news. Now, when I get a call ... my first question is did you read my post? yesterday's post? or whatever. I've gotten such a nice response and I thank all of you for that.

Wednesday I had two requests for a more in-depth explanation of the CBI Currency Auction ... I told them that I had a great article and that I would look for it, but no promises (filing is NOT my strong-suit) and in fact I cannot find it. The last time this came up ... one of you had a link (very long article as I recall) explaining it in depth. If one of you has that link either PM me with it or post it here ... and yes, I will try to file it correctly this time ... lol.

I am glad that most of you understood my pro-active approach to avoiding the roller-coaster yesterday. Believe me, that if I could will the RI/RV into existence ... I would. However, and this is BIG (although I've admitted to it publicly many times) if it were up to me ... I would have RI/RV'd this thing back in April and many of us wouldn't have near the amount of IQD that we possess today ... thus making our manifestation a failure! Now, aren't you glad that you and I aren't in control ... remember that it is not in our timing.

Peace to all

Doc31

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Doc31 Newbie

Doc31

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Thanks again for the post Doc31!!!

But, please answer.... Who started the 72 hour of no Auctions prerequisite????

What kind of validity does it hold?

I like to determine the source of all speculations or intel now!!!!

Here you go ... I answered it for you yesterday http://dinarvets.com..._1entry331317

Also understand that the reason that I mention it is that it seems logical (not absolute) and a natural progression/need and I (like many others) have accepted that it is probable but not absolutely necessary. Zantac came back with another hypothesis that a long weekend perhaps was enough to get the accounting straight and if the RI/RV came within days that they would only have to updated the books from the long weekend to the day (yes, I realize that it is done every day but you get the gist). Now as far as getting the CBI house in order ... well, the argument is $.01 error times Trillions of IQD ... kinda' self explanatory.

Peace

Doc31

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lechesuerte Newbie

lechesuerte

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Thanks again for the post Doc31!!!

But, please answer.... Who started the 72 hour of no Auctions prerequisite????

What kind of validity does it hold?

I like to determine the source of all speculations or intel now!!!!

I think it was one of zantac's ideas. I believe that the CBI would not want to sell anymore dinar around the time of the RV, if in fact they would get very little in return ( the use of the dollars for a few days and then have to pay a much higher return if/when it RV's). I'm unsure of validity. Hope I made some sense but maybe I should just let Doc answer. GO RV !!

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zantac Newbie

zantac

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Thanks again for the post Doc31!!!

But, please answer.... Who started the 72 hour of no Auctions prerequisite????

What kind of validity does it hold?

I like to determine the source of all speculations or intel now!!!!

Fishman/DV members

I will try to keep this as simple as possible with out being disrespectful.

I have used very small amounts to explain without going into the millions/trillions

Currency auctions are a little like eBay. Bid up or Buy Now

Buy now.

CBI sale you 1170IQD for $1 plus commission

Auctions

The starting price at auction for 1170IQD is $1

15 banks are participating at the auction & the CBI is the ones with the gavel in hand.

6 banks decide to bid on the 1st lot as they full well know they have been given the fixed rate by there clients to purchase at (possibly Ali & any other currency trader we may need to mention)

The 1st lot sales for $1.50 giving the CBI a very nice commission sale.

No matter how you look at the sales that Doc31 posts the CBI will always make a packet from the auctions from commission alone, the banks that do take part are there to purchase the IQD to resale to currency traders, PERIOD.

No other reason as we all know IQD is worth less than recycled toilet paper.

The CBI have ran the Auctions for a period of 5 years (if this is incorrect please forgive me)

I would not have enough data to provide you with the huge amounts of profit that the CBI have made from these auctions but trust me it will blow your mind if we could have the true figures, please also note that the CBI have to find some way of obtaining a very steady cash flow per business day without a tradable currency.

NOTE*

THIS IS WERE ME, YOU & EVERYONE ELSE IN THIS INVESTMENT HAS BECOME A KEY PLAYER TO IRAQ`S FUTURE

Finally as Doc31 posted above the amounts of money involved without a full audit prior to the RV is so vast you would pass out just thinking about it.

This is why the minimum 48 hour no Auction Intel/theory stems from

$0.01 here or there is nothing to me or you.

20+ trillion cents here or there is a bank busting big mistake that Iraq can’t afford to do with so many countries/investors/private speculators watching this every tick tock of the dinar clock.

If there is any questions that arise from the above I would be more than happy to answer them to the best of my knowledge or ability

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jazzymol Newbie

jazzymol

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Doc, thank you for your wisdom. Being new, I don't understand the relationship between the gold market, oil and the USD. Would you pretty please, explain that again? Also, on a detour....do you know about the guy Damon Vickers? He's writing a book that's coming out this month about the fall of the USD and what to do after that. If the USD crashes and the IMF turns it into a basket (the Amero) then what should we do investing wise? Damon Vickers says it will crash this year. I've even wondered if the IMF's plan all along is to wait to RV after the USD crashes. I don't know how Iraq could wait that long, but they seem to be doing business fine without their currency valued. Any thoughts?

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