CBI Currency Auction 4/25/2011

[Doc31]

Currency Auctions

Announcement No. (1883)

The latest daily currency auction was held in the Central Bank of Iraq on the 25-APR-2011.

The results were as follows:

DetailsNotesNumber of banks7

Auction price selling dinar / US$1170

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

Amount sold at auction price (US$)18,550,000

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

Total offers for buying (US$)18,550,000

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

Exchange rates

Dollar's exchange rates / in Baghdad markets

This is the lowest auction since December of 2007 ... the first $0 in the cash portion since Dec 2, 2010 ... I know we've had tons of near zeroes but as of late their normal cycle includes low first day of the week (Sunday) and sometimes low Monday. Sunday was average ... today ... minuscule. What do we make of it? Have we seen it before ... yep (Oct 7th 2010 until Dec 2nd 2010 was zero) ... but the auction total was NEVER this small during that time frame ... as I said you have to go back to December of 2007 to find one this small ... was it the perfect setup for the clowns to RI/RV ... yep ... did it signal Shabbibi's intent ... I believe so ... what does it mean now? ... I'm like you ... it HAS to have some meaning/explanation but without a bigger picture it is difficult to put your finger on. We know that inflation is on the rise because Shabbibi has tried to corner al-Maliki by tightening up the money supply ... has he (and the powers that be) finally got him cornered? ... stay tuned ... the next few days might tell us what we need to know.

Okay boys and girls ... Oil is obscene and IMO not because of unrest in the ME

Silver obscene as well

Gold more obscene than silver or oil ... indeed using silvers relationship to gold for the past 100+ years we see that in a worse case scenario gold should be hovering at about $1000 compared to silver ... OR ... silver is so greatly undervalued that it should be between $75 and $101 ... I think even the biggest silver enthusiast would agree that this is beyond reason.

We can argue all day about the strength of the dollar ... sending $700B out of the country for close to $30 years to people who hate us ... fear/metals ... etc. ... let's take a peek at how the MAJORS are doing against metals.

Yes ... I realize that it is only reflective through Dec 31, 2010 ... here's the relationship the other way

And while you can see separation between the currencies the theme is identical ... gold is disproportionately high against ALL currencies. That means either that ALL the majors are in trouble OR ... simply put ... gold is whack!

I can't find a silver chart done this way but our math above tells the story

For you conspiracy theorists ... I recognize that this next chart is often blank in spots ... well ... today either someone took the day off or ... well, you be the judge ...

A quick look at the news tells us that if this was a soap opera and we hadn't read anything on DV for months ... in a minute or two you could pick right back up on the story ... translation ... same crap (being offered up) ... different day.

Topics of interest Paris Club Debt ... apparently triggered Jan 1st, 2011 ... due ... what June 30/July 1st or was it June 1st ... was it payable in oil or cash? ... IMO heck of a way to shock your economy ... RI/RV at or near the same time you have to begin paying off this massive debt.

On my re-read I seem to have opened up more things for question rather than answering them ... I guess it's just one of those days ... I haven't even gotten to what I wanted to talk about but I'm out of time.

To summarize ... lots of stuff that makes you want to go hmmmmmmmmmmmmm!

To the clowns ... tic ... toc

As always ... Peace

Doc31

[pleasantvalleySunday]

YEAH Doc31 is BACK!! Thank you!!!!

[graml]

Doc31, thanks for the post, I enjoy it when you weigh in on these issues.

[Papster]

Thanks Doc31 appreciate it....thanks

[getherdone]

Glad to see you back DOC!!

[cw2]

Thank you Doc31, u always make the auctions where I can understand them.

But could u help me understand what the zero auction means????

I have missed u so much welcome back!!!!!!!!!!!

Edited April 25, 2011 by cw2

[wildinar]

Thanks Doc, nice to see your back

[sblevine]

Thanks Doc31! Glad you're back, hopefully for the grand finale!

[jamaba]

Doc is in the house! Great info! Definitely alot to think about.

GoRV!

[Butifldrm]

Great to see you post! As always Doc31, thanks.

[susanc1058]

Thanks Doc I really enjoy your post. Though I have to admit I don't always understand them but I don't understand much about this investment other than I have paper I have been holding for 7 years now and I am hoping it will be worth something one day. Thanks again for your post.

[whatsfordinar?]

you were right, doc------hmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmmm.......

[linny0830]

Thank you Doc for the time and interesting reading.

[HYDRANT]

GLAD TO SEE YOU BACK DOC ,I HAVE MISSED YOUR POST AND I HOPE I SPEEK FOR EVERYBODY---NICE OPENING BACK--REALLY I FOR ONE MIISED YOU AND YOUR TAKES ON EVERY THING---THANKS AGAIN

[RVDinar4MyFamily]

Missed ya Doc, good to see you back, Thanks for the info

[HYDRANT]

GLAD TO SEE YOU BACK DOC ,I HAVE MISSED YOUR POST AND I HOPE I SPEEK FOR EVERYBODY---NICE OPENING BACK--REALLY I FOR ONE MIISED YOU AND YOUR TAKES ON EVERY THING---THANKS AGAIN

[Yabadabado]

Thanks DOC, Glad to see you are back in the saddle again... You are on to something here and as you noted the trend from 2010 certainly is an indication that there just might be something a bit different... GO RV.... Thanks again for your return and for your information...

[mr john]

A pleasure to have you back DOC. Already knew gold, silver, oil ect. was gonna do what it is doing and invested in all - but I never saw todays auction numbers coming. My guess is its coming soon. RRRRRRRRRRRRVVVVVVVVVVV !!!!!!!!!!!!!!

[Willy in Iraq]

My favorite poster has posted again! thanks Doc!

[pops]

As always I am glad to see your post.

Rumor had it you were in Switzerland with M and S making final preparations.

See you at the bank my friend.

[Doc31]

... could u help me understand what the zero auction means????

Go to this link http://cbi.iq/docume...GE_AUCTIONS.pdf then enter 52 in the page box, scroll to the bottom. That zero is huge. Go back to page 51 to see the column headers.

Remember that these auctions are the mechanism of liquidity for the banks ... only 7 participated ... all via wire.

As always I am glad to see your post.

Rumor had it you were in Switzerland with M and S making final preparations.

See you at the bank my friend.

Too funny ... gotta watch those rumors!

Peace

Doc31

[Sucks2beyou]

For you conspiracy theorists ... I recognize that this next chart is often blank in spots ... well ... today either someone took the day off or ... well, you be the judge ...

Read more:

Doc Why would you leave that open ended they will run with it.

Sucks2beyou

"Lookin for a way out"

Edited April 25, 2011 by Sucks2beyou

[crazy joe]

Glad to see you back Doc.

[TPSprayduster]

Thanks

[360]

You add such clarity and reason along with knowledge. Thank you!!! We are so grateful for you.