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CBI Currency Auction 2/23/2011

Doc31

By Doc31,
in Iraq & Dinar Related News

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Doc31 Newbie

Doc31

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Currency Auctions

Announcement No. (1841)

The latest daily currency auction was held in the Central Bank of Iraq on the 23-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$)177,638,000

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

Total offers for buying (US$)177,638,000

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

Exchange rates

Dollar's exchange rates / in Baghdad markets

2myouc5.jpg

Oil has been screaming up at dollars/day

Gold has been a bit higher but running in an $8 channel currently.

Zeroes ... near ... Cash 1.13M of the 177.638M or not quite 2/3 of 1% ... I did the calculations yesterday on the totals since Oct 7th of both volume and cash portion (cash 7.267M vs wire 13.887B for total of 13.957B ... you do realize that's only .0521% ... compared to the 8.5% - 12%/day prior to Oct 7th) ... yes, an eye opener ... many say that they are out of IQD ... hmmmmmmmmmmmmmmm

Indicative rates updated ... you bunch of conspiracy theorists you

I've been thinking (a lot) about some of the articles/thoughts concerning Fridays demonstration

1) They are going to turn a demonstration into a celebration! Really ... a reported 1M angry people doing an "about face" on the spot ... not likely unless they've been prepped for it for a week or more

2) MP's marching in the demonstration ... easy access to ropes and trees ... yes, sure they are attempting to show solidarity but these are the same guys who did nothing but go to luncheons for over 7 months ... living large in the green zone! ... how do you dismiss that?

3) It will be peaceful because they are required to get a permit to demonstrate ... WHATTTTTTTTTTTTTT ... go pay a fee from the abundance of money that a citizen is left with to get a permit and to demonstrate in a manner that is unknown to a generation AND a culture?! Good luck with that

4) al-Maliki states publicly that the Iraqi govt isn't afraid of a demonstration by the populous ... again, really? ... 1M people are angry ... have given you almost a year ... then give you what ... two weeks to get your act together ... OR ELSE ... and you taunt them with posturing?? Excellent diffusing of a difficult situation Mr PM

5) the borders are reported to be closed to keep terrorists and inciters out of Iraq ... yes, those kind of folks are known for trying to enter countries through check-points with passports ... uh huh ... give me a break. first of all they are there ... additional help comes over the border ... just like the Kurds have been swapping oil for steaks ... been going on for years ... please

6) al-Maliki's trip to Kuwait ... the secret is out? ... it was for refuge and not final arrangements ... this could go either way. The Emir came early in January and al-Maliki was to go the end of January. He goes nearly 3rd week in Feb. ... too close to call ... we don't know for sure ... yes the Minister of Foreign Affairs or State should have been the one to go unless Kuwait stipulated that it be al-Maliki as contrition for Saddam's atrocities ... who knows

7) al-Maliki's conversation with O which said basically that he had his chance and blew it ... folks, does it not seem just a bit contrived that we would be privy to exact conversation of the apprentice President and the PM who has thumbed his nose at the world ... it's not like it was taped and put on Narcissists anonymous! Come on ... think this through

8) al-Maliki has 3000-4200 secret police and 6-7 secret prisons (Amnesty Int.) ... yes, well placed, superbly armed tactical troops with folks funneled into a "choke" zone can concentrate firepower but not CONTROL a mob. Ask yourself ... can you even envision 1M bullets ... how about 30M? 60M? Tacticians know that it takes literally tons of munitions/steel per person (each war was calculated in tons expended and number killed ... yes in recent years that number has come down dramatically but it is still measured in tons). It's impractical and guarantees civil war. Marshall Law does NOT favor al-Maliki and certainly not Iraq's desire to be the jewel of the middle east. A place where they want to be/have Disney.

9) They are looking for a peaceful protest ... okay ... then why have the protesters dubbed the protest "A DAY OF RAGE"? Go figure ... huh!

10)(there are more but I wanted to leave room for you to add something here)

I would say that this was good House of Representatives approved today three Vice-President of the Republic it could be meaningful but remember ... they only had two positions to go ... then one day they filled 8 and declined to fill 4 more! ... now they approved 3? ... what does it even mean except nepotism is alive and well in Iraq!

I'm not saying that nothing can be done ... and I'm not saying that it can't be peaceful ... and I'm not saying that we won't see an RI/RV. I'm merely pointing out the odds.

Sorry my post isn't full of celebration for an RI/RV ... the next 72 hrs will be interesting to watch ... not that we will get a real view into it ... our news will be what they want us to hear and see. Sobering ... yes?!

If you pray ... pray! If you don't ... just sit back and say nothing!

Peace

Doc31

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Darin Newbie

Darin

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Doc, you said quite a bit..

I agree with several of your statements.. A lot of the words out there just seem....... Blowing of smoke

When I first started to follow the investment, it seemed to me most articles were basically truthful.

Now as I follow, I tend to see a lot of contradicting articles to articles that don't make logical sense.

I think a lot of it is smoke &/or also just mis translation of extending conversations from person to person. They lose their originality when they're spread. Just like rumors, and how they turn when spreading mouth to mouth.

Where do we stand on this? I have read a couple people believe... That the 25th demonstrations are "Not" happening or they are skeptical over it.... Well to those folks, I say this, I've read several articles pertaining to that date and how politicians are in slight fear of the 25th... And if by chance they are not true, the civiil unrest over there is on the rise and some politicians are starting to get scared.

Well, I hope the GOI throws their people a bone (RV) to help settle them down.

:)

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lgraham Newbie

lgraham

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Tremendous post Doc!........Can I give you more pluses? ++++++++++++++++++

Like you and many others, I am struggling to figure out the ultimate goal for Maliki......He has already violated the constitution twice since the election. Namely, being declared the largest bloc and exceeding the 30 day mandate to form the GOI.

Now what is his goal? Ultimately any Prime Minister wants as much control as possible. Maliki has been holding out on the security ministries to consolidate his own personal security and authority. This is a culture that is accustomed to a strong man tactic from the top. They have not known any difference. Try and put yourself in that position and realize that this is all they have ever known. Even their religion is one of conquer or destroy your enemies. Now realize, that this has been this way for 1300 years.....This change will not come easy and may not be permament even if given the chance.

If Maliki is going to continue with strong man tactics or the use of force, lets consider what the region has witnessed lately. This Feb 25 demonstration should be very troubling for this new government given all M.E. current events. We have witnessed that the use of force cannot and will not work against your own people. We have one type of result in Egypt. Now a different result evolving in Libya, where they have attepted military force against their own people.

Even if Maliki could secure the 3 remaining ministries with his own people, this would not guarantee him the protection that any wannabe dictator pursues. What is his goal? If the RV/RI is really this close he would know this. He would know how the people would give him some credit by default of just being the man in charge at this time of the new value and prestige to Iraq. I am at a loss to explain this anymore.

They have the money. The sanctions are gone. Debt has been forgiven. Contracts to generate incredible wealth are in place. Elections are done. Banking system has been reformed and modernized. The U.S. military is mostly moved out and will be almost completely transparent in their presence by October. As you have been tracking, Oil is high and gold is high. The CBI has sucked cash from circulation BIG TIME. With the threat of demonstrations and civil unrest what the h*ll can they be waiting for? This is getting very dangerous!

Is it possible that us investors are just reading too much into the urgency for a re-valuation? Is it just too soon to make this happen now? If Maliki can see that his future is at risk, why wouldn't he be doing everything possible to make this happen now? In that regard, things are just not adding up from my point of view.

Thanks DOC........If we are going to be on this ride much longer, I am prepared to start my own protest right here on this site. I will bring my lead pipe and signs printed in Arabic and in English. I will lead all the chanting.....Doc31 for mod....Doc31 for mod.....Doc31 for mod. WE can bring the whole internet down until we get what we want!

Peace,

Lgraham

Edited by lgraham
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ronbo Newbie

ronbo

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Thank You Doc for another of your incisive reviews of these events as they unfold.

After my morning prayers each day I generally try to go directly to DV and read your daily input.

Your words are a breath of stable reason for me each day.

THANK YOU AGAIN AND AGAIN.

RGRAHAM (AKA RONBO)

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Doc31 Newbie

Doc31

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Tremendous post Doc!........Can I give you more pluses? ++++++++++++++++++

Thanks DOC........If we are going to be on this ride much longer, I am prepared to start my own protest right here on this site. I will bring my lead pipe and signs printed in Arabic and in English. I will lead all the chanting.....Doc31 for mod....Doc31 for mod.....Doc31 for mod. WE can bring the whole internet down until we get what we want!

Peace,

Lgraham

Hey my friend ...

1) leave out the stuff about me and go post this stand alone ... it's really good

2) you are a wild man ... lead pipe ... mod? ... too funny

Peace

Doc31

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drox Newbie

drox

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Simmer down Lgraham...aka Ron Burgundy. :D

You, me, and doc can be like the Channel 4 news team meeting them in the back alley. I heard doc...aka Yosemite Sam, hates that rabbit and is pretty good with his pistols. Good post Doc...as usual.

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Doc31 Newbie

Doc31

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Simmer down Lgraham...aka Ron Burgundy. biggrin.gif

You, me, and doc can be like the Channel 4 news team meeting them in the back alley. I heard doc...aka Yosemite Sam, hates that rabbit and is pretty good with his pistols. Good post Doc...as usual.

You guys have made this fun ... thank you.

Oil is $98.95 ... wow!

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