CBI Sells 197 million US dollars

[sandyf]

Why would this be news today? And two articles. The numbers aren't out of the norm. Maybe I missed something...

These articles come out on a regular basis, usually when there is not much news.

[imgesing]

Actually thats not true. the cbi is selling dollars for dinars and then putting them into the economy. thats why the m2 is growing ever month to over 30 trillion. Last year they were around 24 trillion and it keeps growing. Thats what the officially documented statistics show. your opinion is a common misconception that is based on false premises with no binding documentation, or physical statistics. a conspiracy at best.

And you believe what you read too... Interesting, NO? You think they will tell us how much is in circulation or when they will RV or what rate?

In March several of our US TREASURY went over there to help out with this. WHY? It isnt something they will disclose and it isnt something they are controlling alone.

EVERYTHING here until proven is a conspiracy. Even the news has been wrong several times. I think speculation is a better word...

PEACE

[keepmwlknfny]

Why would they do this?? Simple.....to balance the exchange rate and keep it steady......thats the purpose of the auctions according to the CBI....

Selling the USD they are recieving from profits of oil, getting dinar in return to pump back into the banks and to filter down into the streets....

And when the banks get low on USD, they sell dinar for USD.....it bounces back and forth but its mostly just selling USD for more dinar which is why you see the money supply continue to grow....its starting to get a bit ridiculous.....the more money they print, the worse and worse things look for us....

[Rossenbos]

Why are we debating this still. The CBI auctions have been covered on a daily basis here.

Don't newbies read stuff from the past before they post??

Man....

How can we - as a species - ever evolve :-).

The Iraqi Central Bank sells dollars for dinars. They take dinars out of the market. The US$ is the currency of choice for the man on the street.

Once the RV hits, there's less dinars on the street and the CBI holds more dinars this way.

[keepmwlknfny]

Why are we debating this still. The CBI auctions have been covered on a daily basis here.

Don't newbies read stuff from the past before they post??

Man....

How can we - as a species - ever evolve :-).

The Iraqi Central Bank sells dollars for dinars. They take dinars out of the market. The US$ is the currency of choice for the man on the street.

Once the RV hits, there's less dinars on the street and the CBI holds more dinars this way.

This is why it still gets debated all the time because of the misconception that they are taking dinars off the market.....

Thats not the case.....if that was the case, there would be no dinar almost anywhere.....think about it....they have been doing these auctions for YEARS now! If they were removing dinar from the market there would be none for the govt to continue on......

[truthful1]

And you believe what you read too... Interesting, NO? You think they will tell us how much is in circulation or when they will RV or what rate?

In March several of our US TREASURY went over there to help out with this. WHY? It isnt something they will disclose and it isnt something they are controlling alone.

EVERYTHING here until proven is a conspiracy. Even the news has been wrong several times. I think speculation is a better word...

PEACE

I do beleive the currency outside banks is around 30 trillion, if you could provide some opposing facts id love to change my stance. you beleive there reducing dinar based on what? The cbi has gone from around 20 trillion to 30 trillion currency outside banks in just over a year and a half. There not reducing dinar, period.

Why are we debating this still. The CBI auctions have been covered on a daily basis here.

Don't newbies read stuff from the past before they post??

Man....

How can we - as a species - ever evolve :-).

The Iraqi Central Bank sells dollars for dinars. They take dinars out of the market. The US$ is the currency of choice for the man on the street.

Once the RV hits, there's less dinars on the street and the CBI holds more dinars this way.

The data shows there growing the money supply. yes they sell dollars for dinar, but there ADDING them not SUBTRACTING FROM THE MONEY supply. There is proof to my claim. maybe you should check out the monetary aggregates on the cbi site. like i just posted, id love to believe otherwise. please educate me

Edited September 28, 2011 by truthful1

[sfredieu]

I don't know about that keeps I think they may have been recirculating dinars back and forth in the beginning but I think that is part of them removing the zeros instead of this so called lop.it would make since for them to have been pulling a little out at a time,but if you selling a175,000,000 for 22days in a month that's over 4 trillion dinar this would be the best time to do it while everyone is still using usd I will be surprised if there is 7 to 8 trillion in circulation.and I would doubt if they would come out and tell you that's what they have been doing.you could remove zeros without lopping,also it would only cost about 26 billion dollars to get that money supply to 4 trillion where they want it to be.jmo only

[keepmwlknfny]

I don't know about that keeps I think they may have been recirculating dinars back and forth in the beginning but I think that is part of them removing the zeros instead of this so called lop.it would make since for them to have been pulling a little out at a time,but if you selling a175,000,000 for 22days in a month that's over 4 trillion dinar this would be the best time to do it while everyone is still using usd I will be surprised if there is 7 to 8 trillion in circulation.and I would doubt if they would come out and tell you that's what they have been doing.you could remove zeros without lopping,also it would only cost about 26 billion dollars to get that money supply to 4 trillion where they want it to be.jmo only

And I would be inclined to believe it if there was some proof of that happening.....I would LOVE to see them retracting the money supply through the auctions which COULD be possible as 20milldinar posted but evidence points to the exact opposite of that happening....

Iraq has to have a way of converting the oil sales in USD to dinar to use and this is the way of doing it.....

They could remove just the larger bills with a short cash in period but from the stats it wouldnt serve much of a purpose to reduce the inflated money supply....

[WesParsons]

I'm starting to believe that the buying of Dinar by the banks and the selling of USD is just part of their ongoing banking strategy.

I've been watching them do it for 3 years, in that time they could have circulated the entire amount of dinar on the planet several times over. What's the end game?

They have a duel currency situation, they use Dinar and they use USD. This mechanism of bank purchases is how they keep both circulating and how they keep enough of each on hand to pay out the contracts they have in the currency of those contracts.

I'd love to see it be helpful to my investment but I can't see a positive spin worthy of believing.

[keepmwlknfny]

I'd love to see it be helpful to my investment but I can't see a positive spin worthy of believing.

I agree!

[MakeMeRich]

Ok i dont think i am understanding this ..... If you have say 100000 and you take it in to the bank but then you turn around and put it back out ont the streets you still only have 100000. You havent added Nything u have just recycled it......so where does the extra money come from that is being added to the m2 ...... Sorry i just dont underrstand

[sonny1]

for 18 months now cbi has been selling usd for dinar, this dinar has already been calculated into the system, so to say there m2 is growing because they are buying dinar and re-circulating it is wrong, why would they take dinar from the same banks they are giving it back too? it makes no sense at all. they are buying back circulated ( we have uncirculated) dinar so the rv hit is less painful, if they were to rd it wouldnt matter how much dinar the banks over there have, this clearly points to a hike in exchange rate. its pretty clear.

[keepmwlknfny]

for 18 months now cbi has been selling usd for dinar, this dinar has already been calculated into the system, so to say there m2 is growing because they are buying dinar and re-circulating it is wrong, why would they take dinar from the same banks they are giving it back too? it makes no sense at all. they are buying back circulated ( we have uncirculated) dinar so the rv hit is less painful, if they were to rd it wouldnt matter how much dinar the banks over there have, this clearly points to a hike in exchange rate. its pretty clear.

When you put it that way it doesnt seem that the money supply is growing just because of the auctions....I dont think thats the main reason for the amount in circulation to be increasing

Like I said, I dont know everything there is to know about the auctions but its definately not pulling money out of circulation....

It seems to be more of balancing the amount of USD and Dinar that the banks hold....if the banks have too much dinar, they might sell some for USD and vice versa....

[sfredieu]

like I said I dont believe they would show this because it would be a streight admitting to a RV without a lop and we all know what would happen if they did that it would be suicide.I just dont see the point in recirculating the worthless dinar back into the economy when it doesnt have any real value.It doesnt make sense to keep it out there when at this point the budgets been paid with money from oil sales which is usd,the people of iraq are using mostly usd,so what is the point in keeping the dinar in circulation,i am not saying some of the dinar is not going back into circulation but i think in the last year shabbs was most likely pulling the majority of it out so iraq could get it closer to what he needs it to be for the streight up RV.

[donnydoright]

I just dont see the point in recirculating the worthless dinar back into the economy when it doesnt have any real value.I

25,000 dinar WORTH $21.37 (MORE THEN OUR $20)

10,000 dinar WORTH $8.55 (Close to our $10)

5,000 dinar WORTH $4.27 (Close to our $5)

1,000 dinar WORTH $0.85 (Close to our $1)

500 dinar WORTH $0.43 (Close to our 50cent pieces)

250 dinar WORTH $0.21 (Close to our Quarter)

50 dinar WORTH $0.04 (Close to our Nickel)

I HATE WHEN PEOPLE CALL THE DINAR WORTHLESS, in some cases its worth MORE then the USD, in others it's VERY VERY CLOSE to on par with the notes you and i use EVERY SINGLE DAY....To call it worthless is like calling all the money in YOUR wallet worthless...and if you believe that, i'll happily take those worthless Dollars off your hands

[WesParsons]

Exactly...so explain to me again WHY they need to do an RV?

Are they not functioning fantastically without an RV?

Are billions of dollars worth of projects and investments not already underway?

Are they not currently back to selling oil and producing more than ever?

[Carrello]

These articles come out on a regular basis, usually when there is not much news.

Thanks Sandy. I don't recall seeing articles like this that pertains to a particular day. I do see the weekly updates, but this seemed odd to me. Cie le vie.

Thanks again.

Why are we debating this still. The CBI auctions have been covered on a daily basis here.

Don't newbies read stuff from the past before they post??

Man....

How can we - as a species - ever evolve :-).

The Iraqi Central Bank sells dollars for dinars. They take dinars out of the market. The US$ is the currency of choice for the man on the street.

Once the RV hits, there's less dinars on the street and the CBI holds more dinars this way.

Thanks, I thought it was just me.

[sfredieu]

You are correct donniedoright it's not worthless,but what I am meaning is it takes 25,000 to make 21 dollars and it is harder for the people to deal with the zero's,so this is why they they would rather use the usd.and because they are selling more usd in the auctions it would be the best time to bring in the dinar for a RV.

[truthful1]

We can all see the currency outside banks is increasing, at least thats what the stats show as of april this year. i believe they can use the auctions to reduce the dinar in circulation, but none of the financial indicators that are available show any decrease as of april this year.

[donnydoright]

You are correct donniedoright it's not worthless,but what I am meaning is it takes 25,000 to make 21 dollars and it is harder for the people to deal with the zero's

Isn't this the same argument Shabibi is using to push for the RD?

[keepmwlknfny]

Isn't this the same argument Shabibi is using to push for the RD?

Yep.....

[imgesing]

I do beleive the currency outside banks is around 30 trillion, if you could provide some opposing facts id love to change my stance. you beleive there reducing dinar based on what? The cbi has gone from around 20 trillion to 30 trillion currency outside banks in just over a year and a half. There not reducing dinar, period.

The data shows there growing the money supply. yes they sell dollars for dinar, but there ADDING them not SUBTRACTING FROM THE MONEY supply. There is proof to my claim. maybe you should check out the monetary aggregates on the cbi site. like i just posted, id love to believe otherwise. please educate me

My only way of educating you on the points you showed me is that I believe little of what is being said. I think we are given what they want us to see. I COULD BE VERY WRONG but this is how I see it. We can not be sure of anything. Now if there is proof you would have to find some bank vault or several and start counting. LOL You get what I mean though. The facts are obscure and not totally reliable. Yet, it is all we have.

Your points however are an education for me too.... Be well.

[SPRAYERDUDE]

Actually thats not true. the cbi is selling dollars for dinars and then putting them into the economy. thats why the m2 is growing ever month to over 30 trillion. Last year they were around 24 trillion and it keeps growing. Thats what the officially documented statistics show. your opinion is a common misconception that is based on false premises with no binding documentation, or physical statistics. a conspiracy at best.

What? The M2 only grows when new bills are distributed, if in fact they are rolling dinars back into the economy these bills do not make the M2 grow and I highly doubt they are printing new old bills when they are stating they are replacing the currency. In fact they have been pulling larger denoms. for quite some time. We will not see the true "in circulation" bill count until Iraq is Internationally recognized and I.M.F. transparency rules apply

[sfredieu]

Truthful1

Just because their m2 is growing doesn't mean it is from the dinars being taken in from the auctions.like I explained in another post any time they refer to their finances it will always be in dinar,so if their m2 is growing it doesn't mean it is actual dinar that is making it grow.their budget last year was 86 trillion dinar,there was not even half that ever printed so why do the say it is 86 trillion dinar because they convert it to dinar because it is their currency.we in the united states don't say we have in our m1 1trillion dollars 6 hundred billion peso's no we just convert everything to dollars.if no one wants to deal with dinar in Iraq and everyone is trading it back in to buy usd (which is obvious because the auction sale for the dollar is so high) then why would you put it back in the economy when you are trying to make the dinar stronger and by reducing the amount would do just that,if the people like using the dollar let them use it and collect all your dinar back in until you get the money supply where you need it to be then you RV it to what ever their goals are.you see this money auction is a perfect mechanism to keep that balance between the dinar and dollars in circulation in Iraq.now with all this being said I'm sure they are putting some dinar back in the streets because you don't want the amount in the streets to get to low cause it could hurt them as well.

[jgreene]

Looks like they are selling Dollars to get the big denom dinars back?

look at the auction....it says they bought dollars and sold dinar.....geez..do you folks just see what you want to see????