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CHAZMAN POST - One Dinar 1/22/10 (found on Dinar Daddy's site)


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You know k98knights, I appreciate all the work you do to get info. but I go to another site's site just like you. Why do we need to read the same crap over and over again because you and several others are busting your Azz to bring it all onto this site. Leave it there for everyone to read.
k98nights- keep up the good work. I do not have time to search all over the place to find information. I appreciate that you bring it here to this site. It is amazing that people would complain about this. Please keep up the great work.
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I like a lot of the posts from the past several days, from people on different sites... purely for their simplicity in the explanation of the past and current events. another site is helping me , if not everyone , understand some of the issues that are generating the coming RV of the IQD.

Yes, it may seem redundant to have the same post on several sites, but I say ... "What the heck , it' sll good ".

Don't sweat the small stuff and let's hope this will be a distant memory in a few weeks from now .

Back to you in the studio....

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Tis is right off CBI's website click on the exchange rates tab on the bottom and it gives you a history including cash transactions

Year Date Market Price Auction Price Volume (000 USD) Cash Trans.

1113 17-Jan 1,185 1,170 168,902 8,950 159,952

1114 18-Jan 1,185 1,170 88,950 11,410 77,540

1115 19-Jan 1,185 1,170 179,659 13,470 166,189

1116 20-Jan 1,185 1,170 92,845 7,740 85,105

1117 21-Jan 1,170 131,630 2,840 128,790

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You know k98knights, I appreciate all the work you do to get info. but I go to another site's site just like you. Why do we need to read the same crap over and over again because you and several others are busting your Azz to bring it all onto this site. Leave it there for everyone to read.

So what if you don't want it, most of us do! We don't sit on the computer all day flipping thru many sites, this is the only source for

me and others.

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Thanks for the post. I don't know about a "another site" site so I'm glad to read it on this site. Thanks. OK, bash me!!

Ditto that. I appreciate all the info k98nights brings to us from others. Keep on it k98 and smoke one for me!

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You know k98knights, I appreciate all the work you do to get info. but I go to another site's site just like you. Why do we need to read the same crap over and over again because you and several others are busting your Azz to bring it all onto this site. Leave it there for everyone to read.

Be kinder! Some bloggers here are banned in another site's site, perhaps. He posted it for them as well.

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CHAZMAN POST - One Dinar 1/22/10

I have followed the CBI's daily auction for a couple months now, probably 70 - 80 auctions. I like to follow this because it’s the one place where we can see what Shabibi is actually doing with the exchange rate. The auction consists of two parts, the "cash" part and the "transfers out" part.

In the cash part, CBI manages the exchange rate by either buying or selling IQD. For the past year, CBI has always been selling IQD in order to maintain the exchange rate. This is what we would expect - as people expect the IQD to increase in value and as Iraq moves from using USD to IQD for transaction (de-dollarizes), CBI needs to put more IQD notes into circulation. Otherwise the exchange rate would go up.

In the transfers out part, CBI manages that exchange rate by acquiring foreign currency reserves and engaging in other central banker transactions that I don't understand. The parliament recently rejected a move by the government to raid the reserves that Shabibi has built up to fund the budget deficit. Shabibi has used the auctions to keep the IQD at about 1170 to the USD for over a year, despite the fact that the USD has been up and down (mostly down).

Normally CBI posts the auction results on its website to show the official exchange rate that resulted from the auction. Here's a link to Thursday's auction results: http://www.cbi.iq/exchangerate.html The CBI posts only the total amount of dinar sold at the auction and does not provide a break out of the "cash" and "transfers out" segments of the auction. Normally it provides the press with a release that does provide this break out, which is picked up by Aswat al Iraq.

On Thursday, for the first time since I started following this, there was no mention of the CBI auction in Aswat al Iraq. This means that I can't determine the amount of cash IQD notes that were purchased on Thursday, which I like to watch because I would expect a sharp spike if the Iraqi bankers were expecting the value of the IQD to increase - they would be very eager to swap USD for IQD.

I thought that maybe the release was delayed, so I checked again today and it still had not been posted. Also, Aswat al Iraq usually has a story on Friday that summarizes the CBI auctions for the entire week. This also has not been posted today, although there are stories regarding the ISX results for Thursday and for the entire week. http://en.aswataliraq.info/?cat=4

I am just speculating, but perhaps there was a sharp spike in the cash portion of Thursday's CBI auction, which the CBI did not want to reveal. The total amount of the auction, $131.6, was relatively strong but without the breakout of the cash portion its tough to draw any conclusions.

Maybe we will see a story on Saturday or Sunday about the CBI's Thursday auction results but if we don't, perhaps something is brewing!

Hoping something is brewing, but if you are depending on "*sswipe al iraq" then you are depending on the smallest, poorly funded, and least respected news source in just about all of the ME. They are reposters of info that is posted on the big boards for the most part, but thanks for a great post and your deductive reasoning!!

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You know k98knights, I appreciate all the work you do to get info. but I go to another site's site just like you. Why do we need to read the same crap over and over again because you and several others are busting your Azz to bring it all onto this site. Leave it there for everyone to read.

Give me a break.. :rolleyes: just close your eyes and pretend that the rest of us lazy investors aren't here. We depend on you guys to bring it to us ...well, we don't depend on you financeminister because you are too cranky..but we absolutely love k98knights. soooo keep up the good work k98..you my friend are appreciated.:hug: Play Nice.

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