CBI Currency Auction 2/14/2011

[Doc31]

Currency Auctions

Announcement No. (1835)

The latest daily currency auction was held in the Central Bank of Iraq on the 14-FEB-2011.

The results were as follows:

DetailsNotesNumber of banks16

Auction price selling dinar / US$1170

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

Amount sold at auction price (US$)187,159,000

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

Total offers for buying (US$)187,159,000

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

Exchange rates

Dollar's exchange rates / in Baghdad markets

Oil off but poised ... ask yourself if high oil prices had been served up for months on end and the clown continued to misbehave ... would you continue to orchestrate for him or swat his hand?

Gold took a $14 nose-dive and is now running in a $6 channel

Zeroes ... only near ... as the cash portion was 2.129M of 187.159M or 1.13% ... not a snooz-fest but hardly pre-Oct 7th 12.5%. Moderate volume with 16 banks participating.

As I started to write this morning ... I realized that I didn't have a great deal to say and that I don't want to take your time.

I will say that after writing yesterday about encouraging others I received numerous phone calls with what I'll call 3rd hand information (wouldn't dare call it intel) ... now what is so amazing about this is that ... well, I've always told you that I have no imbeds in the middle east, no bankers there, no boots on the ground ... not even any military, government nor even bank contacts in the US ... yep, it's just me ... so for me to be getting 3rd or 4th hand info was astounding! Heretofore it was 15th to 30th hand info (yep, gonna bet the farm on that ... lol).

Seriously, is it so close that info is raining down on common folk?

I was encouraged by the things that I had received previously to my post yesterday ... after yesterdays calls ... well, let's just say my batteries have been fully charged.

Does encouragement breed encouragement? ... yes, but usually not the kind with info attached to it! Praise God!

Ok ... a quick glance at the news ...

Ok ... we are told that Parliament is 2 (some say three) seats short ... then they fill 8 is it? but not 4? ... so either "new math" has arrived in Iraq OR "three card monty" is alive and being propegated right there in the Iraqi parliament ... explains what they've been doing to entertain themselves while they've been avoiding their job all this time ... am I right?!

Here's a shocker: CBI: Oil has the most political influence on monetary policy in the country ... yah think? ... wait it's by Mohammed Salih ... something this ridiculously simple shouldn't even be believed ... coming from this fountain of dis-information. Read that as ... "if he told me the sky is blue ... I'd coroborate it from another source before I believed it"! There's a lot of meat and potatoes in the article I know ... well, I'm not your Mom ... do what you think best.

Then, first it was Kuwait ($1500/person?) now it's Bahrain with $3000/family ... well, I don't know about you but apparently in that region you pay out to prevent riots ... sorry, just sayin'

More oil related articles ... Iraq eyes "super six" ... remember that monicker ... it's the Iraqi six fields found to have massive reserves ... they are concentrating on getting them rolling and then keeping them rolling to create massiv bpd capacity

Well here's a poke in the eye Washington is seeking to ensure the broad powers of the Board of policies to address the powers of al-Maliki ... no, I agree they should have ... but they should have done it much sooner, much harder, and more back channel.

I'm out of time ... oh, my this is much longer than I expected ... I hope it's not just droning!

Happy Valentines to my beautiful Bride and to you all!

Peace

Doc31

[jphillips]

Thanks Doc. Great info as always.

[BanG]

Thanks Doc for the valuable information you have provided ounce again. Thank you for your time and efforts. Peace.

[pleasantvalleySunday]

Thanks Doc31! Happy Valentines to you too!! •●♥ƹ̵̡ӝ̵̨̄ʒ♥●•

[rsskelton]

Thanks as always Doc! Interesting times. Can't help but wonder about your 2nd and 3rd hand info. You'll have to excuse me Doc, sometimes I'm to nosey for my own good, but if it encourages you, it encourages me! Thanks again.

[S2_D2]

Thank you Doc. I always look forward to your post and thank you for your effort and the info.

S2_D2

[wbuse984]

Thanks again Doc, keep up the good work

[dreardon]

I have a quick question that I figure someone that has knowledge about the CBI currency auction can answer.

I have been told that the currency auction is selling US dollars? Is that true?

Meaning, do they sell their US currency for Iraqi dinars?

Originally I believed they were selling dinars as a way to get US currency to do daily operations, at some point did this switch?

Thanks, I would appreciate anyone who can answer.

[beagle]

Thanks, Doc! I don't know what we'd do without you!

[gp49]

Thanks again Doc and Happy Valentines Day to you and your wife.

Blessed Be!

[Papster]

Hey Doc I see the CBI is having a holiday on the 17th for a religious holiday......that would open up another three day weekend for the CBI.......just a thought ........thanks for the post

[tommyboy]

Jesus Doc, how do you do this every day? We all appreciate it, but you must be really dedicated !! Luv all ur posts & thanx.

[Hope Floats.Rates Dont]

Keeping my chin up and my expectations reasonably low. Thanks

Edited February 14, 2011 by Hope Floats.Rates Dont

[easyrider]

Keeping my chin up and my expectations reasonably low. Thanks

thats all we can do, after being on this ride for a while now I don't buy into the rumor B.S anymore and well some of the new you can't trust either. I've learned to just accept it as it is and when i get that email ill know its RVed from dinartrade. Bottom line is all the so called Gurus might have intel but how accurate is it one must ask? I thinl all of us will be rewarded but might not be for a while longer. I hope I am wrong.

[sweet B]

Thanks Doc!! I loved the post especially bout their "math" lmao!!! But from all I've read that is Iraq, their math is different, their calenders/time frames must also be some special system just for them. Nothing is what it seems but it all meshes together is this odd way that ends up being their way.

Thanks again Doc, some humor in the morning is always great and your post are always informative.

Happy Valentines Day

[kingfish]

Then, first it was Kuwait ($1500/person?) now it's Bahrain with $3000/family ... well, I don't know about you but apparently in that region you pay out to prevent riots ... sorry, just sayin'

Read more:

The US has been paying to keep people quiet for years. LOL

[Maynard57]

Doc, buddy! You main-lining espresso or something? You're like shot out of a canon. GREAT post.

Oil has the most political influence on monetary policy? Hail prince of the freakin' obvious. And you're right, Saleh could say "hello" and I wouldn't buy it.

You know, with these cash grants to the citizenry of Kuwait and now Bahrain, it almost seems that they are flaunting their currency rates and rubbing Iraqi noses in it. At makes the 15,000 IQD or 50,000 IQD downright comical, if you like that sort of humour.

Maynard

Edited February 14, 2011 by Maynard57

[Doc31]

Hey Doc I see the CBI is having a holiday on the 17th for a religious holiday......that would open up another three day weekend for the CBI.......just a thought ........thanks for the post

Excellent catch! With our Presidents day the 21^st it's actually a “shock absorber” kind of weekend … 17^th holiday 18^th holy day 19^th weekend 20^th start of their week but not ours 21^st Europe and Asia are open for business but America is not 22^nd the world … this is a Zantac setup weekend!

Keeping my chin up and my expectations reasonably low. Thanks

Nice job … I like the phraseology!

Doc, buddy! You main-lining espresso or something? You're like shot out of a canon. GREAT post.

Oil has the most political influence on monetary policy? Hail prince of the freakin' obvious. And you're right, Saleh could say "hello" and I wouldn't buy it.

You know, with these cash grants to the citizenry of Kuwait and now Bahrain, it almost seems that they are flaunting their currency rates and rubbing Iraqi noses in it. At makes the 15,000 IQD or 50,000 IQD downright comical, if you like that sort of humour.

Maynard

Main-lining espresso … I love it

Saleh/Salih … exactly

Hadn't considered it a nose rubbing … have to think about it a bit

Peace my friend

Doc31

[cocklebur]

thanks doc, for posting so much that is basicly meaningless to the average john or jane doe. what is the point you are trying to make? please explain to a newbie.

[geoyachtsus]

Always enjoy reading your posts doc. They always give me a little buzz. Hope Valentine's Day was a good one.

Geo

[Nitrobuzz]

A little cryptic with the message. But, what I did get like never before is your new found optimism. To me it speaks volumes about the near future.

Happy Val. day to you and the wife!!!!!!!

Thanks Man!!

[pchester]

Thanks Doc, enjoyed your read. Have a great day.