CBI Currency Auction 3/2/2011

[Doc31]

Currency Auctions

Announcement No. (1846)

The latest daily currency auction was held in the Central Bank of Iraq on the 2-MAR-2011.

The results were as follows:

DetailsNotesNumber of banks20

Auction price selling dinar / US$1170

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

Amount sold at auction price (US$)165,608,000

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

Total offers for buying (US$)165,608,000

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

Exchange rates

Dollar's exchange rates / in Baghdad markets

I showed you late in the day yesterday what oil had done

Gold ... officially insane ... it touched the $1435 level at 4PM yesterday and is presently running in a channel ... if memory serves it's a record ... if not ... it's still insane!

Zeroes ... moderate volume with 20 of 22 participating ... near but a 7/11 big gulp (post Oct 7th) with the cash portion at 2.359M against a 165.608M auction ... 1.42% ... I know, but still

I'm not qualified to talk about silver ... so I've posted a chart ... I was looking for a 1 yr and a 10 yr but this will show you what it's been doing the last three days ... see that continuous incline ... you get the picture.

Nah ... that still doesn't do it ... here you go

Yes ... I know ... that's why I decided to post it. Someone asked me last night whether this was a "perfect storm" ... my answer is ... at the very least the wind has sure picked up!

Two of the major IQD sites were down last night at roughly the same time ... one came up faster than the other. Caused quite a stir.

BofA on-line banking was down in many states yesterday. Caused another stir.

US TREASURY EXTENDS DROP DEAD DATE ... Wow ... if that one doesn't get your attention

Here's one you may not have read last week History and Effects of Government Shutdowns

http://usgovinfo.abo...t-Shutdowns.htm

I hope this doesn't signal a whole new round of luncheons Allawi calls on Maliki to the new round of negotiations ... several sources say these positions are already filled ... who knows

Iraqi Protest Scheduled For March 4th ... well boys ... whatyagonnado?

They need to RI/RV soon and let Shabbibi do his thing or this could get nasty ... Iraq Jan Inflation Rises To 5.3% Vs 3.3% In Dec - Ctrl Bank

malaki calls for new local elections ... if nothing else, this guy is predictable ... refuse responsibility and get others to resign, leave, face a new election or take the blame.

Wow here's a dangerous one ... Parliament Set to Approve Law Granting PM Authority to Dismiss Incompetent Ministers

I was scanning the news and realized that there is very little to look at ... then I realized that K98nights wasn't posting. I hope he is okay ... everyone deserves a break or to sleep in. Monster poster!

Well with that ... I bid you a good day

Peace

Doc31

And just as I posted this the other news hounds picked up the slack. I'm out of time.

[venetia]

Yes..both .K98NIGHTS and you Doc are much needed on this site. Your posts are invaluable so thanks to both of you.

[linny0830]

Thank you Doc as always great insightful post.

Linny

[MADELAMO]

Thanks DOC.... Like always you have given me something to think about today other than the same old BS. Once again thanks.

[roxyredhead]

Doc, Thank you!

[balkanbob]

I'm new to this site. I look forward to reading your posts. Thank you Doc. Keep up the good work. Go RV.

[Darin]

Funny when you think about it.. Post RV, many people have spoke of investing into Gold or Silver, yet spot gold & silver are on the rise and pushing records. Go figure, right?

I wonder, theoretically, what will this do to Gold & Silver upon a post-RV? Are people buying in w/ the expectations for the rise to continue??

Sweet crude... Is it stabilizing??? As much as I like seeing it push near $100 per barrel for the sake of the GOI budget and clearing up a deficit.... I worry that the higher price at the pump will stress out everyone and strain any sort of economic recovery we may feel that we are on.

Protests.. They sure like protesting on Fridays... This will be a common sight in the future, huh? My brithday lands on a Friday this Month... Someone got a budget approval for their birthday. Maybe I can get a RV for mine

[Stumpy]

Thanks for all you do and have done Doc. Yes, you and K98 are needed to keep things level on here, Thanks again!!!

[zapped777]

Thank you DOC!

[codeman]

Here is a 10 year chart. Sorry that was the 99 to 09

Here is a 10 year chart. Sorry that was the 99 to 09

I was trying to edit and delete this chart but but I am new here and do not see where to do it at. Sorry for the old chart. Just look at Kitco.com and 321gold.com if you are into PM's.

http://www.bloomberg.com/news/2011-03-02/gold-buying-in-china-totals-200-tons-so-far-this-year-ubs-says.html

Gold article

Edited March 2, 2011 by codeman

[pchester]

Good post Doc, Is this Silver going wild or what? Guess we will keep an eye on this.

[Doc31]

sorry for the bad link

http://usgovinfo.about.com/od/federalbudgetprocess/a/Government-Shutdowns.htm

[wildinar]

Thanks Doc for all you do, God Bless

GO RV!!!!!!!!!

[aferriss]

Thank you Doc!! I appreciate your posts and value your opinions. Very insightful, logical, and no nonsense. God bless.

[the next contestant]

Thanks Doc! You have always been reliable with your info.

[Doc31]

Arab League postpones summit to May

That's not unexpected but not a good thing for us.

[Mack0121]

TThanks for the post.

[rick_jb]

Thanks for the post Doc.

[Drew Brew]

Thanks for keeping us all informed Doc!

[R2d2dc]

Thank you Doc, always appreciated.

[brbrlocke]

Thanks Doc

[suntiger]

I will never understand crazy speculation over silver! It only costs between 6 to 8 dollars to mine. Checkout the audit for First Majestic Silver corp!

http://www.firstmajestic.com/s/NewsReleases.asp?ReportID=444925&_Type=News-Releases&_Title=2010-Audited-Financial-Results-show-Record-Earnings-Cash-Flows-A-Breakout-Y...

[BanG]

Yes..both .K98NIGHTS and you Doc are much needed on this site. Your posts are invaluable so thanks to both of you.

Agree! You are a wealth of information and make the CBI information understandable for a peep like me. Thanks Doc you are greatly appreciated and one day I hope to meet you and shake your hand. Until then all the best.

[babyorca]

I remember a news article in my city where some hoodlums dressed as fake cops broke into a senior citizens home and got away with 3/4 of a million dollars worth of physical silver this man had put his whole life savings into. It is such a shame how cruel the world can be. I know In hind sight it should have been kept in a safe, bank etc or even keep quiet and don't trust a soul what valuables your bringing into your home.

[elmstreet61]

I will never understand crazy speculation over silver! It only costs between 6 to 8 dollars to mine. Checkout the audit for First Majestic Silver corp!

http://www.firstmajestic.com/s/NewsReleases.asp?ReportID=444925&_Type=News-Releases&_Title=2010-Audited-Financial-Results-show-Record-Earnings-Cash-Flows-A-Breakout-Y...

Silver is in very high demand...not only are private investors buying up the stuff in truck loads, but silver is used in a lot of electronic gadgets, mirrors 9the reflective layer in mirrors contains silver...how many mirrors are made in the world, right?...so a huge demand...and slowing production....will push the price of silver up to where gold is now.