CBI Currency Auction 2/27/2011

[Doc31]

Currency Auctions

Announcement No. (1843)

The latest daily currency auction was held in the Central Bank of Iraq on the 27-FEB-2011.

The results were as follows:

DetailsNotesNumber of banks12

Auction price selling dinar / US$1170

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

Amount sold at auction price (US$)127,960,000

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

Total offers for buying (US$)127,960,000

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

Exchange rates

Dollar's exchange rates / in Baghdad markets

Oil and gold are from Friday ... we saw them rising $3 and $8 per day respectively last week.

Zeroes ... very near as the cash portion was 270K (can you say nothing) of the near $128M or .21% (hasn't been this low since late December) with only 12 banks participating ... volume down a bit ... similar to end of January numbers

Friday this news article appeared Al-Maliki Ordered the governors of each of Baghdad and Mo...

Yesterday this one appeared BASRA GOVERNOR RESIGNED

My comment to both of those was:

Too funny ... the guy who wasn't elected and IS responsible for the lack of services orders those who were elected and NOT responsible to resign!

The only upside that I can think of for these scape goats is the reported retirement plan for government workers ... whether you work one day or 30 years you are entitled to a government pension. Agreed that right now that it MIGHT not be much but it was reported that it was at 100% of salary. As long as none of these guys had aspirations for parliament or the PM ... paid vacation ... who knows ... there might not even be a stigma attached in 3 more years!

Today we have this one Iraq PM gives gov't 100 days to improve -- or else ... same comment

I was looking for the psychological term for "blaming others", projection, narcissism ... decided you'd get the picture before I found the word ...

I was just wondering whether the Iraqi people saw through this nonsense as well. Don't get me wrong ... "crap does roll downhill" ... "spread the blame" ... "and no Dad, wasn't me ... man came in the window (Bill Cosby)" are just sooooooooooooo obvious here.

Then I saw this:

"I have demands!" Salma Mikahil, 48, cried out in Baghdad's Tahrir Square, as military helicopters and snipers looked down on thousands of people bearing handmade signs and olive branches signifying peace. "I want to see if Maliki can accept that I live on this," Mikahil said, waving a 1,000-dinar note, worth less than a dollar, toward Prime Minister Nouri al-Maliki's offices. "I want to see if his conscience accepts it."

whether they see through it or not ... this one cuts to the chase!

Factual or al-Maliki owned "news"? ... Life back to normal in Baghdad after mass demonstrations:

This one would lead us to believe the article above Arab Summit To Be Held Next Sunday ... we will see

This one gave me a chuckle Will protests derail the ISX? ... Thompson-Reuters was contracted to set up the only digital stock exchange in the Middle East at an enormous cost ... we all believed that this was the thing that would force the GOI to be seated and the RI/RV to occur by what Oct 31, 2010 ... still chuckling. No, you can't have a SX while still using colored toilet paper ... it's the rules!

Well, I'm off to church ... I'll check back in later ... I hope that I haven't wasted your time this morning ... that's just what I see in the news ...

Peace to all

Doc31

[Jim1cor13]

Currency Auctions

Announcement No. (1843)

The latest daily currency auction was held in the Central Bank of Iraq on the 27-FEB-2011.

The results were as follows:

DetailsNotesNumber of banks12

Auction price selling dinar / US$1170

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

Amount sold at auction price (US$)127,960,000

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

Total offers for buying (US$)127,960,000

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

Exchange rates

Dollar's exchange rates / in Baghdad markets

Oil and gold are from Friday ... we saw them rising $3 and $8 per day respectively last week.

Zeroes ... very near as the cash portion was 270K (can you say nothing) of the near $128M or .21% (hasn't been this low since late December) with only 12 banks participating ... volume down a bit ... similar to end of January numbers

Friday this news article appeared Al-Maliki Ordered the governors of each of Baghdad and Mo...

Yesterday this one appeared BASRA GOVERNOR RESIGNED

My comment to both of those was:

Today we have this one Iraq PM gives gov't 100 days to improve -- or else ... same comment

I was looking for the psychological term for "blaming others", projection, narcissism ... decided you'd get the picture before I found the word ...

I was just wondering whether the Iraqi people saw through this nonsense as well. Don't get me wrong ... "crap does roll downhill" ... "spread the blame" ... "and no Dad, wasn't me ... man came in the window (Bill Cosby)" are just sooooooooooooo obvious here.

Then I saw this:

whether they see through it or not ... this one cuts to the chase!

Factual or al-Maliki owned "news"? ... Life back to normal in Baghdad after mass demonstrations:

This one would lead us to believe the article above Arab Summit To Be Held Next Sunday ... we will see

This one gave me a chuckle Will protests derail the ISX? ... Thompson-Reuters was contracted to set up the only digital stock exchange in the Middle East at an enormous cost ... we all believed that this was the thing that would force the GOI to be seated and the RI/RV to occur by what Oct 31, 2010 ... still chuckling. No, you can't have a SX while still using colored toilet paper ... it's the rules!

Well, I'm off to church ... I'll check back in later ... I hope that I haven't wasted your time this morning ... that's just what I see in the news ...

Peace to all

Doc31

Thank you very much my friend for your efforts!

Your reports are never a waste of time.

All my best Doc!

Jim

---

[Slaydadea]

I've been anxiously waiting on your summary. Much thanks Doc.

[rsskelton]

Thanks as always for the update Doc!

[Rogue Knight]

Doc, Maybe the "clinical" words you were looking for are- narcissistic diety complex ? Also, the word scapegoat does come to mind... Thanks as always for your time and efforts on DV. God Bless!! - RK

Edited February 27, 2011 by Rogue Knight

[bagdaddy]

Thanks again, DOC. Your words are sanity to this insane experience.

Your posts are always worth the visit.

RV already!

[roxyredhead]

I learn more and more everyday from your post. Thank You!

[pops]

Thanks again my friend.

I sure hope it won't be too long before we can stop being so anxious to get on line and check CBI, FX, ME news stories etc. I look so forward to meeting you and others at the bank. The people of Iraq are not dumb and will eventually see through the lies of Maliki. Well, maybe not. We seem to keep believing the lies of our politicians don't we? Laissez les bons temps rouler LET THE GOOD TIMES ROLL

[Doc31]

Doc, Maybe the "clinical" words you were looking for are- narcissistic deity complex ? Also, the word scapegoat does come to mind... Thanks as always for your time and efforts on DV. God Bless!! - RK

They are scapegoats for sure ... but you knew that I'd love "narcissistic deity complex" ... I'm sure that there is room for more descriptors ... but that's a good start! Too funny!

[Mack0121]

thanks Doc. Always good info.

[R2d2dc]

Great post Doc, thank you

[DaveH]

Thanks for taking the time to post Doc. Your efforts are deeply appreciated.

[aferriss]

Thank you, thank you, Doc!!! I always look for your posts and am never disappointed.