CBI Auctions

[Skip^downsouth]

Is the CBI selling USD for Dinars or Selling Dinars for USD?

I have heard on this forum that there are 30 Trillion dinars in circulation and they can't RV with that many out there because there is not that much money in the world to cover them

But if they are using USD to buy Dinars and doing this over several years they have had to have reined in a lot of dinars and there can't still be 30 Trillion out there

[Markinsa]

Is the CBI selling USD for Dinars or Selling Dinars for USD?

I have heard on this forum that there are 30 Trillion dinars in circulation and they can't RV with that many out there because there is not that much money in the world to cover them

But if they are using USD to buy Dinars and doing this over several years they have had to have reined in a lot of dinars and there can't still be 30 Trillion out there

They're doing both. Buying & Selling Dinars with U.S. Dollars

[digital11]

The daily currency auctions are a FOREIGN currency auction. They sell USD they receive from selling oil and buy up IQD from banks as a way to control the exchange rate of the IQD.

[HeyJonesy]

I think this thread makes a good point that a lot of people are missing..

Iraq has been working hard to reign in as much of the IQD as possible. They can use the USD to buy back their IQD because the USD is stable (figuratively) and in Iraq they're already using it.

The importance of getting back as much IQD as possible is so they don't have to carry that burden over covering the difference once the RV occurs.

I believe there is a little more weight to this then we've previously understood. There is a goal that Iraq is looking for in getting in as much IQD as possible BEFORE they make the RV plunge. They know how much IQD was printed, they know how much they have back in their possession, how much has been destroyed, and they know how much they can safely have floating around the world that they can cover (pay for) once they revalue.

Just a thought..

[Skip^downsouth]

The daily currency auctions are a FOREIGN currency auction. They sell USD they receive from selling oil and buy up IQD from banks as a way to control the exchange rate of the IQD.

Then like I said the CBI is buying up dinars and over the years they should have collected a lot of those 30 trillion dinars out of circulation and when they get the dinars in circulation down

to a figure that they can manage they can RV but who knows when that will be maybe soon I hope

[Skip^downsouth]

I think this thread makes a good point that a lot of people are missing..

Iraq has been working hard to reign in as much of the IQD as possible. They can use the USD to buy back their IQD because the USD is stable (figuratively) and in Iraq they're already using it.

The importance of getting back as much IQD as possible is so they don't have to carry that burden over covering the difference once the RV occurs.

I believe there is a little more weight to this then we've previously understood. There is a goal that Iraq is looking for in getting in as much IQD as possible BEFORE they make the RV plunge. They know how much IQD was printed, they know how much they have back in their possession, how much has been destroyed, and they know how much they can safely have floating around the world that they can cover (pay for) once they revalue.

Just a thought..

Sounds right to Me