winchell99 Posted December 28, 2011 Report Share Posted December 28, 2011 BondLady explains that the value of the dinar has gone down. CBI is using this as a way of getting the people to trade in their dinar for dollars which have been going up. Then the CBI will destroy all those dinar, using all this to draw the dinar back into the bank so they can get rid of it. This is in preparation for bringing out the new dinar and doing the revalue. All good stuff. Link to comment Share on other sites More sharing options...
hunz2 Posted December 28, 2011 Report Share Posted December 28, 2011 hunz, the IQD off the street taken in by the CBI belongs to the CBI and does not pay for the government budget. the CBI is an independent entity. Maliki tried a year ago to take control of the CBI and failed because he wanted to use the CBI's money to fluff his budget. that did not work. The only money coming in to suppoert the budget is from oil. Oil money belongs to the government and the people. The CBI and only the CBI has disgression on the fate of the Dinar. About 6 month ago the CBI had destroyed so much IQD inflation was a problem. I would tend to think/hope Bond Lady's analysis is spot on. So what you are saying is that the iraqi government uses the USD directly from the oil sales to fund its budget. And you are also saying that the CBI spends over 200 million USD buying dinar each currency auction. My question to you is where is the CBI getting the USD to buy the dinar off the streets if its not from oil money? I'm sorry but my earlier post is correct. USD comes into the CBI, the CBI has a currency auction to sell the USD and buy dinar, which then funds the budget. Link to comment Share on other sites More sharing options...
Linda Bower Posted December 28, 2011 Report Share Posted December 28, 2011 The part that doesn't make sense to me in BL's analysis is saying the CBI is buying up all the Iraqi citizen's dinars and replacing it with USD. Iraq has been fighting dollarization and, especially since the troops are now gone, why would they promote using USD with their citizens? Link to comment Share on other sites More sharing options...
zul Posted December 28, 2011 Report Share Posted December 28, 2011 The part that doesn't make sense to me in BL's analysis is saying the CBI is buying up all the Iraqi citizen's dinars and replacing it with USD. Iraq has been fighting dollarization and, especially since the troops are now gone, why would they promote using USD with their citizens? Linda, Iraqis have been using USD all along. At the current rate, no Iraqis would want to use dinar. In fact, when their govt servant got their salary in dinar..they just change it back to USD. What BL is saying...CBI has been telling their people that USD has been strengthening since the withdrawal of US Troops while IQD was weakening...and this has caused a lot of fears to the Iraqis that they literally changed all the dinar that they have for USD. 4 Link to comment Share on other sites More sharing options...
winterset Posted December 28, 2011 Report Share Posted December 28, 2011 The part that doesn't make sense to me in BL's analysis is saying the CBI is buying up all the Iraqi citizen's dinars and replacing it with USD. Iraq has been fighting dollarization and, especially since the troops are now gone, why would they promote using USD with their citizens? They are only promoting it tempoarily until they remove as much dinar as they can from the citizens. Then IMO they will introduce the lower denoms and begin to remove the dollar in I'm sure another brilliant plan by Shabibi. I'm still unsure the true process at the auctions but I have always appreciated Bondladys research and I choose to be excited with this developement I am so ready for a vacation!!!!! 1 1 Link to comment Share on other sites More sharing options...
RodandStaff Posted December 28, 2011 Report Share Posted December 28, 2011 Thanks Hamels for the post, and as always thanks Bondlady for once again "bringin it"! Pass the ketchup, pass the salt and pepper, [bondLady] pass the budget <br style="font-family: tahoma, arial, verdana, sans-serif; font-size: 13px; text-align: left; "> [bondLady] pass the hcl <br style="font-family: tahoma, arial, verdana, sans-serif; font-size: 13px; text-align: left; "> [bondLady] pass the investment laws ... the RV dinner is in the oven and it's about done! Come on boyz... gitter dun! GO RV Already Baby!!! Link to comment Share on other sites More sharing options...
tim5400 Posted December 28, 2011 Report Share Posted December 28, 2011 is Shabibi TRICKING the general pop. of Iraq into trading dinars for dollars...seems kinda underhanded to me....I thought Shabs was for the little guy...not now i guess Link to comment Share on other sites More sharing options...
the wolf Posted December 28, 2011 Report Share Posted December 28, 2011 haven't they been doing these auctions for years? Why is it different now? Since it is banks that are selling dinar to the CBI wouldn't these be electronic funds? why would she think it is only notes with 000's? Has anyone seen anything supporting that they are out of dinar? If they have reduced the money supply down to the billions why isn't it shown on the CBI financials? Why does she need a mic? Lots of questions 3 1 Link to comment Share on other sites More sharing options...
gakman Posted December 28, 2011 Report Share Posted December 28, 2011 The Key: Are the Dinars that are coming back into the CBI being destroyed (even partially) or are they being recirculated????? B\L- they are being destroyed\retired Keep- they are being recirculated 1 Link to comment Share on other sites More sharing options...
hunz2 Posted December 28, 2011 Report Share Posted December 28, 2011 haven't they been doing these auctions for years? Why is it different now? Since it is banks that are selling dinar to the CBI wouldn't these be electronic funds? why would she think it is only notes with 000's? Has anyone seen anything supporting that they are out of dinar? If they have reduced the money supply down to the billions why isn't it shown on the CBI financials? Why does she need a mic? Lots of questions Your right they have been doing these auctions for years. If you look at today's auction you can see on the cbi's website that out of the $245 million auction today, only $6.5 million was cash. The rest is electronic. Lookong at the cbi financial statements and the IMF Iraq is nowhere close to being out of dinars. 1 Link to comment Share on other sites More sharing options...
truthful1 Posted December 28, 2011 Report Share Posted December 28, 2011 If the violence and talk of political sectarian warfare wasnt happening, id maybe believe bondladys view. Its funny, how everyone says watch the money and in this case iraqis and others want dollars and not dinar. the type.of volume weve seen in the demand for the dollar tells us, these iraqis arent expecting the dinar to increase or they wouldnt be cashing out to dollars. something to think about. 1 Link to comment Share on other sites More sharing options...
joseroque Posted December 28, 2011 Report Share Posted December 28, 2011 Most of what I have read is not correct! The simple matter is that Shabibi wants to get the Iraqui people to stop using the dollar and make it worth their while to use the dinar! In order to do this and to curb inflation, he has to make the dinar at least equal to the dollar. This will be a slow process (about two years) along with the introduction of the new denominations. So, most of what BL and others are saying is just not true. Again, people usually post supposed intel to inflate their ego's, not taking into consideration if it is true or not. BL, please use your team to provide the truth about what is going on with Iraq and the dinar. By the way, the auctions have been going on for quite a while with fluctuations in the buying and selling and is nothing new. 2 5 Link to comment Share on other sites More sharing options...
truthful1 Posted December 28, 2011 Report Share Posted December 28, 2011 Most of what I have read is not correct! The simple matter is that Shabibi wants to get the Iraqui people to stop using the dollar and make it worth their while to use the dinar! In order to do this and to curb inflation, he has to make the dinar at least equal to the dollar. This will be a slow process (about two years) along with the introduction of the new denominations. So, most of what BL and others are saying is just not true. Again, people usually post supposed intel to inflate their ego's, not taking into consideration if it is true or not. BL, please use your team to provide the truth about what is going on with Iraq and the dinar. By the way, the auctions have been going on for quite a while with fluctuations in the buying and selling and is nothing new. True, but until they have international currency in the dinar they will need the dollar and will continue to use. Iraqis are showing more faith in the dollar. until you convince the people the dinar is better they will prefer dollars. 1 Link to comment Share on other sites More sharing options...
amal Posted December 28, 2011 Report Share Posted December 28, 2011 hunz, the IQD off the street taken in by the CBI belongs to the CBI and does not pay for the government budget. the CBI is an independent entity. Maliki tried a year ago to take control of the CBI and failed because he wanted to use the CBI's money to fluff his budget. that did not work. The only money coming in to suppoert the budget is from oil. Oil money belongs to the government and the people. The CBI and only the CBI has disgression on the fate of the Dinar. About 6 month ago the CBI had destroyed so much IQD inflation was a problem. I would tend to think/hope Bond Lady's analysis is spot on. Not that one more opinion on this clears the matter up but I agree with this. The cbi does not get oil money just as our US treasury does not give its money to the federal reserve. The cbi is an independent banking institution. They get their money the same way any central bank gets their money. I would say Bondlady's analysis is right on and disagree with what Keep and some others have posted here. No disrespect intended toward anyone. 3 Link to comment Share on other sites More sharing options...
truthful1 Posted December 28, 2011 Report Share Posted December 28, 2011 If you want to see the increase in dollar demand, look at the cash portion of the auction, on the cbis exchange rate pdf. theyve hit 30,000 and a few others that are close to that. thats where the dinar is being bought back. the other half of the auction is where cbi is converting oil sales in usd to dinar to pay expenses on behalf of the goi. the auctions are clear in the way they work. its silly to see so many confused, when the info is just right there. anyways..... 2 Link to comment Share on other sites More sharing options...
fnbplanet Posted December 28, 2011 Report Share Posted December 28, 2011 I like what Bondlady does for us (or them). But I'm trying to picture something: I cannot imagine what the auctions actually, physically look like, but I do not believe that they look like a hundred racetrack windows, with extremely long lines of Iraqis waiting to cash in their crumpled up dinars for US greenbacks! They are not simply taking cash, physical dinars "off the street". It's an Auction of currencies. I imagine that it looks more like a small stock exchange, with about 29 guys representing the banks all yelling at each other to BUY! or SELL! USD, Dinar, Yen, whatever. Highest bid wins, the auctioneers make money either way. I'm glad that they are able to pull that much dinar out of circulation, how much they keep out of circulation is what really counts. I DO appreciate Bondlady's work. 2 Link to comment Share on other sites More sharing options...
joseroque Posted December 28, 2011 Report Share Posted December 28, 2011 I don't understand why people keep saying Shabibi is taking the dinars off the streets. During the next two years, he will be doing the opposite, he will introduce the RV'd dinar and the new denominations so the Iraqui people will accept the dinar for all their daily transactions! All this has nothing to do with the CBI auctions. They are there to make money and that is how they make it. 1 1 Link to comment Share on other sites More sharing options...
mrref Posted December 28, 2011 Report Share Posted December 28, 2011 Maybe someone should fill her in on what the auctions are about...... They are selling USD, by selling USD that they aquire from oil revenues, they are able to get dinar to run the country......the USD that comes in is basically converted to dinar through the auctions.... Why all the negatives for you, people just don't want to hear the truth, amazing. 3 3 Link to comment Share on other sites More sharing options...
hunz2 Posted December 28, 2011 Report Share Posted December 28, 2011 If you want to see the increase in dollar demand, look at the cash portion of the auction, on the cbis exchange rate pdf. theyve hit 30,000 and a few others that are close to that. thats where the dinar is being bought back. the other half of the auction is where cbi is converting oil sales in usd to dinar to pay expenses on behalf of the goi. the auctions are clear in the way they work. its silly to see so many confused, when the info is just right there. anyways..... They get confused because they take every word bondlady says as fact. This subject has been covered numerous times and I'm a little surprised bondlady would put something out like this that is so blatantly wrong. 3 4 Link to comment Share on other sites More sharing options...
keepmwlknfny Posted December 28, 2011 Report Share Posted December 28, 2011 This subject has been covered numerous times and I'm a little surprised bondlady would put something out like this that is so blatantly wrong. Its not the first time..... 8 12 Link to comment Share on other sites More sharing options...
mrmcwhipit Posted December 28, 2011 Report Share Posted December 28, 2011 At Iraqinews.com today I saw a small article titled Removing tbe zeros being discussed and they showed bundles dinars tied up as if being removed from circulation. Link to comment Share on other sites More sharing options...
winterset Posted December 28, 2011 Report Share Posted December 28, 2011 They get confused because they take every word bondlady says as fact. This subject has been covered numerous times and I'm a little surprised bondlady would put something out like this that is so blatantly wrong. You are correct that there can be confusion when it is taken as fact, but Bondlady clearly stated that this was her "theory" so I don't think its fair to call a theory blatantly wrong, that seems a little harsh. 5 Link to comment Share on other sites More sharing options...
Darin Posted December 28, 2011 Report Share Posted December 28, 2011 Maybe someone should fill her in on what the auctions are about...... They are selling USD, by selling USD that they aquire from oil revenues, they are able to get dinar to run the country......the USD that comes in is basically converted to dinar through the auctions.... What about the article stating they pulled in 1 trillion? That many claim as basic proof they're pooling in IQD. But for the most part, your correct. The auctions work as an exchange center Ppl need USD to buy foreign goods GOI needs IQD to pay workers Same with other businesses Big circle of money Imagine if it was trade-able!!?!?! Wouldn't that be nice. 1 1 Link to comment Share on other sites More sharing options...
zigmeister Posted December 28, 2011 Report Share Posted December 28, 2011 What about the article stating they pulled in 1 trillion? That many claim as basic proof they're pooling in IQD. But for the most part, your correct. The auctions work as an exchange center Ppl need USD to buy foreign goods GOI needs IQD to pay workers Same with other businesses Big circle of money Imagine if it was trade-able!!?!?! Wouldn't that be nice. Could the auctions have changed in function? Before it was an exchange center, but now a tool to bring in dinar? Link to comment Share on other sites More sharing options...
sonnywd Posted December 28, 2011 Report Share Posted December 28, 2011 Since 1 January, the CBI has "pulled" in 39,596,054,000 (Volume (000 USD)) with an average market price of 1198.012448. If Iraq has 64,000,000,000 IQD in circulation and have "pulled" in 39,596,054,000 then that leaves almost 24,403,946,000 IQD's left in the world. If I hold almost 1,000,000 and the other 43,339 (2,167 pages of 20 members each) members of DV hold at least 1,000,000 that equals out to 43,339,000,000. Somewhere, somebody's numbers don't add up. Link to comment Share on other sites More sharing options...
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