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CBI Currency Auction 4/25/2011


Doc31
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Hi Doc!

I know you only post when you feel you have substance to add to the auctions along with other global market charts. I was happy to see you jump in and feel a little excited in regards to the Zero-Cash/Low-Auctions.

Now, one thing that I saw posted is that some people were claiming that the European countries likely had banks closed due to holidays.. Could this be a factor? I still believe that the # is small even with that being a case, but it would seem some-what normal, given the numbers. Crude seems suppressed on what it "could" be, but it has been pretty stable above the $100-mark. Also, the squeeze we feel at paying at the pump seems like if we knew any better, we would of thought it was $150 for crude.

Couple interesting things to think about.. BofA decided to eliminate their sales of IQD entirely. I could hardly imagine that they were a big # player against those auctions. But the timing sure seems to fit nicely. Also, I recall that Adam made mention of a deadline that the CBI had roughly in this time-frame. Not sure what that may mean, but it sure opens up the perspective for possibilities to speculate upon. And for those that watched Shabibi's video/audio-clip, we heard him make a claim of "soon" & one will have to wonder if we are starting to see what his definition of soon is. Could the ball be starting to roll? And for those that make claims that the ball was already rolling, is it now picking up momentum??

Now, I guess to argue the Easter weekend, if auctions have not been this low since 2007, that gives us roughly 2-3 Easter weekends to compare too. Unless this is a fluke and it aligned up with the European holidays that are supposedly taking place today.

And one thing I read about this on PD. The auction was originally put in at 18,500 but later updated again to add 3 zeros.. (Like a mistake or failure to add 3 zeros by the IT guy) Conspire on that! :)

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IT IS EASTER HOLIDAY, YOU'RE ALL "PUMPING" SANDS!!!

Did not know they celebrated Easter over there in the M.E.

& to such an effect that auctions still occurred

With 7 banks participating

And the last time the #s were that low? Dec 26th 2007... Been over 3 years since we have seen low #s like that.

Don't blame us for speculating. It is nice to educate the crowd. ;)

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It is such a great day. Doc, it is so Great to see your post! I hope your days of being really busy are through. I was sooooooo happy to see your post this morning. Hope you have time to give us your perspective as much as you can. We Appreciate it.

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Now, I guess to argue the Easter weekend, if auctions have not been this low since 2007, that gives us roughly 2-3 Easter weekends to compare too. Unless this is a fluke and it aligned up with the European holidays that are supposedly taking place today.

The CAD is blank as well and it is a bank and government holiday here today. I hope they aren't related. It would be nice to see the cash flow starting to dry up. That would be a great sign.

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I will offer my "welcome back" though I don't remember reading your posts before.

But I will say this, with great enthusiasm ... usually this kind of post goes ... "whoosh" ... right over my head about mach 4. But his one I actually understood and enjoyed reading.

Thanks for that ... I am in the process now of becoming as avid a fan as your other avid fans seem to be ... avid ... fans ... that is ... :blink:

smee2

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Thanks Doc31. You have been painfully missed. Thanks for showing back up and stopping the pain rolleyes.gif

This is one of the more positive and sensible posts to speculate about... yeah!

God's Blessings to you and yours.

gp49

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Good to have you back, Doc. I know Shabibi was in D.C. around the 19th, I believe, and even then he could give us nothing definitive. (I've gone over the media a few times.) Exciting that he was here. But as you stated, it does make you want to go HMMM...especially with the very few banks participating in the auction. 2007 was a while ago. :D Again there is much speculation and people behaving rudely, but nothing concrete so we are still playing the waiting game to see what happens with Iraq. Hopefully, something will come of it soon so we can move on with life and we can be rid of the nasty commentators. I, for one, could use a break from that kind of foolishness. That's part of the reason I rarely come on DV anymore.

Anyway, God bless and hope you and yours had a great Easter. Hope to see another one of your informative posts soon.

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And just as I mention it Gold slides nearly $7 and silver $2.33 ... It just looks like a high perch setup for a fall to me ... perhaps not ...

I do understand about the European holiday ... my problem with it though is why normal yesterday and so low today (you do realize that 18M-26M was the normal cash portion prior to Oct 6th 2010?) ... "aberrant" just doesn't cover this!

Peace

Doc31

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Doc31, Im not sure if you have seen the IMF website this morning or not, guessing you hadnt before posting. I love your analysis....

I think this is our week but only the Majors are still on the IMF,the rest are all blanked out. I hope Iraq is the reason, though it may not be the reason for this change on the CBI website. Not trying to be a downer, but we've had our hopes crushed so many times before as you very well know. GO RV, I hope this times the charm!

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