CBI Currency Auction 2/20/2011

[Doc31]

Currency Auctions

Announcement No. (1838)

The latest daily currency auction was held in the Central Bank of Iraq on the 20-FEB-2011.

The results were as follows:

DetailsNotesNumber of banks18

Auction price selling dinar / US$1170

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

Amount sold at auction price (US$)192,961,000

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

Total offers for buying (US$)192,961,000

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

Exchange rates

Dollar's exchange rates / in Baghdad markets

Well there goes a perfectly good theory all blown to heck ... isn't it Z? ... lol ... I know it's a breath through a reed but I would have loved to have seen no auction today. Oh well ... what ya' gonna' do?

Oil up at Friday's close

Gold too

Zeroes ... near as they continue to take the small breaths ... Cash portion only 1.469M or .76% aka miniscule.

The news this morning has a whole different tone ... sort of a government going about it's business doing what governments do. I agree that we haven't seen Iraq do much of that but go to the news section and just open it up and peruse the articles. At least at this hour it looks like that.

The civil unrest articles this morning are few ... I guess the one that troubles me most is this one Maliki: Protests do not worry Iraq Government ... seriously? ... it looks to all the world that your citizens patience has run dry ... spurred on by geopolitical uprisings in neighboring countries which didn't always work out well for those in charge ... it looks as though the situation MAY have reached near "critical mass" ... I understand appearing to be strong as a leader ... to give the impression that what the citizenry have planned to use as a "stick" to prod their government out of their year long luncheon doesn't worry the PM ... that is a different ballgame! Yes, I understand that in the Middle East things happen slow as molasses ... ask Mubarak how that worked out for him.

Summit to be held on Time.. Okay ... ya' might want to "push the button" aka "pull the trigger" on the RI/RV in the not too distant future or you've been promised by your populous that there won't be anywhere for the delegations to stay, meet, eat, or drink and that their LZ would be "hot" ... I'm thinking not such a big selling point on having it there again! Government officials generally aren't big on flack jackets and danger don't ya' know!

I just went over the news again and honestly ... other than the previous two I don't see anything to comment on.

If you haven't read Frank26's Thursday chat I would recommend it. It's the biggest compilation of ... and I want to be careful how I categorize this ... but it is the biggest compilation of "stuff" ... some intel, some supposition, some news, some conclusions drawn, some media broadcasts, etc. .... all drawn into a picture to TRY and put a face on the puzzle before us. Like him or don't ... it is still true. If you don't like Glenn Beck ... skip past it ... if you don't like (__________) ... skip that. But he does give a perspective that can be used by ANYONE to keep their feet on the ground while WATCHING the rollercoaster! My point is that regardless of where we get a useful idea of what is going on ... it is still useful. His Thursday chat post ads perspective to an otherwise confusing situation. There isn't any reason for me to rehash those points ... and anything that gives us perspective is useful ... yes?! Read it or don't ... I'm not your Mom!

I do want to point out something weird though. I've told you over and over that I have no imbeds, govt officials here or their, no boots on the ground ... nada. So when I woud hear a story ... it was 15th hand or worse! In the past 2 weeks ... every day ... yes, I said every day I get phone calls with 2nd or 3rd hand info. No, I'm not saying that I'm betting the farm on them and I haven't even shared them with anyone but my group who understands that I am uncertain of their accuracy/authenticity and that I always tell them that ... "that and a $1.79 will get you a cup of coffee at 7/11!" In other words ... I have no idea if it's true or not! But to go from 15th hand to 2nd and 3rd hand info ... what's up with that? What I'm trying to say is that I believe something has to be up when the common fellow has that kind of info.

I'm headed to church but will stop back in later B4 the race.

Picking order out of chaos is actually easier than picking the truth out of quiet waters (especially when you know it's not that quiet). I hope I've done someone some good this morning ... if not ... you'll forgive me please.

Peace

Doc31

[rsskelton]

Thanks for the post Doc. I think somethings up. Just wish we knew what. Really appreciate you trying to sort it out.

[coldwarvet]

Thanks, Doc31. Good perspective!

[pchester]

Good post Doc....Who you like in the race? lol

[cash1324]

Thanks For The Post DOC

[andy3978]

I too would have liked to see no auction today. Nevertheless, something is brewing. Thanks for the post

[jack]

$1.79 eh?

Interesting that you give that amount and interesting that tomorrow is Feb 21st.

The poster GreenAZ said the RV date was Feb 21st and the rate was $1.78.

Link:

[tommy17]

Thanks you for the post Doc.

[puff26]

Thanks Doc, Have great Sunday! GO R1/RV today...go..go...go...Move Now..we have the evident's our Faith!

[Slaydadea]

Thanks Doc!

[detroitjazzman]

Everyone's talking about gold......and silver is just running alone unnoticed.. over $32.00 and its not finished yet.

[JuryPicker]

Everyone's talking about gold......and silver is just running alone unnoticed.. over $32.00 and its not finished yet.

Smartest guy I've heard today. There's a reason that they're pushing gold on every channel on the tube. Think about it. There's an old saying, If everybody is buying…….who's selling?

[George2351]

Thanks Doc for the post. I think something is up too.

[mark_mich266]

Thanks, DOC! Always good to hear your honest thoughts!

[Anita]

Very good post, Doc31. Thank you. Very much appreciated.

[pops]

Thanks again for the post Doc.

Laissez les bons temps rouler.

Let the good times roll. See you at the bank.

[Alonzo]

Thanks Doc for all that you do!

[codeman]

Thank you

[terr]

Thanks for keeping it real , Doc.

[chilli24]

Tahnk you Doc.

[Linda]

Doc, Thanks for keeping our feet on the ground....appreciate your posts...God Bless...

[pleasantvalleySunday]

Picking order out of chaos is actually easier than picking the truth out of quiet waters (especially when you know it's not that quiet). I hope I've done someone some good this morning ... if not ... you'll forgive me please.

Peace

Doc31

And now that the budget has officially passed ....

You do good by us each time you post Doc

Many blessings,

pvS

[Stramick]

Insightful and diligent as always.

Thank you for your post Doc.

Stramick

[k98nights]

CBI opens week with $163m sales in auction

2/20/2011 6:13 PM

BAGHDAD / Aswat al-Iraq: The Central Bank of Iraq (CBI) opened the week on Sunday with sales up to $192.961 million, compared to the previous session’s $163.225 million at an exchange rate of 1170 Iraqi dinars per dollar.

"The demand hit $1.469 million in cash, covered at an exchange rate of 1,183 Iraqi dinars per dollar, and $191.429 million in foreign transfers outside the country, covered at an exchange rate of 1,183 Iraqi dinars per dollar," according to a CBI news bulletin received by Aswat al-Iraq news agency.

None of the 18 banks that participated in today’s session offered to sell dollars.

The Central Bank of Iraq runs a daily auction from Sunday to Thursday.

AmR (TP)

http://en.aswataliraq.info/Default1.aspx?page=article_page&id=141086&l=1

[Helicopter Barry]

CBI opens week with $163m sales in auction

2/20/2011 6:13 PM

BAGHDAD / Aswat al-Iraq: The Central Bank of Iraq (CBI) opened the week on Sunday with sales up to $192.961 million, compared to the previous session’s $163.225 million at an exchange rate of 1170 Iraqi dinars per dollar.

"The demand hit $1.469 million in cash, covered at an exchange rate of 1,183 Iraqi dinars per dollar, and $191.429 million in foreign transfers outside the country, covered at an exchange rate of 1,183 Iraqi dinars per dollar," according to a CBI news bulletin received by Aswat al-Iraq news agency.

None of the 18 banks that participated in today’s session offered to sell dollars.

The Central Bank of Iraq runs a daily auction from Sunday to Thursday.

AmR (TP)

http://en.aswatalira...e&id=141086&l=1

What does this mean if anything,?