BONDLADY'S CHAT This Afternoon

[fnbplanet]

Could the auctions have changed in function? Before it was an exchange center, but now a tool to bring in dinar?

At a certain level of volume, they make a profit (on the exchange rate). But above the average 140million or so, yes, they could serve to regulate the inflation rate AND remove dinar from circulation. Agree. Below average, it could also suppress the value to create an aura of "stability".

I miss Doc31.

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.

Some of that IQD is used for everyday economic functions, like converting USD from oil sales into dinar for use inside of Iraq. There is more than one single reason for the auctions.

[zigmeister]

At a certain level of volume, they make a profit (on the exchange rate). But above the average 140million or so, yes, they could serve to regulate the inflation rate AND remove dinar from circulation. Agree. Below average, it could also suppress the value to create an aura of "stability".

I miss Doc31.

Some of that IQD is used for everyday economic functions, like converting USD from oil sales into dinar for use inside of Iraq. There is more than one single reason for the auctions.

With the dollar strengthening, doesn't that benefit them? They are able to pull in more dinar?

[sonnywd]

Again, if the core of DinarVets each hold 1,000,000IQD then that amount is static in nature. Not being uitilized for day to day operations. Out of the 64 trillion, "we" collectively hold 43 trillion. Day to day IQD in circulation is 21 trillion. The last 10 auctions (18DEC) they have "pulled" in 2,254,760,000. Minus 21 trillion, that leaves the country currently running on 19 trillion divided by 1170 equals 16.2 million USD. That is for the whole country. San Diego County has more money in circulation than that.

[fnbplanet]

With the dollar strengthening, doesn't that benefit them? They are able to pull in more dinar?

Quite.

Excellent timing by Shabs. Seems he is taking advantage of the political unrest and the troop withdrawal to his advantage. I have to imagine that most of the troops cashed out any IQD they had for USD, causing an imbalance. USD went up because of demand, IQD went down because of too much supply. Political unrest also put a downward push on the dinar.

[Darin]

Again, if the core of DinarVets each hold 1,000,000IQD then that amount is static in nature. Not being uitilized for day to day operations. Out of the 64 trillion, "we" collectively hold 43 trillion. Day to day IQD in circulation is 21 trillion. The last 10 auctions (18DEC) they have "pulled" in 2,254,760,000. Minus 21 trillion, that leaves the country currently running on 19 trillion divided by 1170 equals 16.2 million USD. That is for the whole country. San Diego County has more money in circulation than that.

Sorry, your #s don't add up.

Lets say the 43,000 members hold IQD. Each hold 1,000,000 IQD

43,000 x 1,000,000 = 43,000,000,000.

Your speaking of 43 Billion IQD (Not trillion)

Now, to further expand on the 43,000 members of DV

Many are duplicate accounts (those that were once banned & rejoined, duplicate accounts, bots, and those who may be researching).

I would still argue that a majority of that 43k holds or at one time held IQD.

Lets not forget that some may have sold off their holdings & any new member who bought from a member selling their holdings may have signed up.

A lot of people may hold 1-5 million, but you may also be surprised on how many may only hold 200k or 500k...

So, lets play with better #s

Lets say the average holdings were 2.5 Million

And lets say 45,000 people are invested.

That would equal 112,500,000,000.

AM has done a good job on allowing DV to be the first in results of a search string via google, yahoo, or any other internet search engine.

Anyone who is a member of a IQD site likely has an acct with DV.

But, I could easily be wrong... Much more could exist than we think on U.S. soil held by individuals.

I would find it hard to believe it would be over 1 trillion... But I certainly wouldn't be shocked..

Kind of a catch-22 situation... If we account for 1 trillion, that's a pretty size-able amount. Would we really get locked out upon trade & exchange with us holding that much?

If it was realistically in a 150-200 billion range, how many IQD truly exists? 30 T seems rather high for a country who uses both USD & IQD.

[keepmwlknfny]

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.

Yes I remember slightly about reading that, I would like to read that one over again though....I dont think they did that through the auctions though....but I dont remember...its also important what exactly they did with it...everytime they have withdrawn liquidity, they dump it right back into play....

[Darin]

Could the auctions have changed in function? Before it was an exchange center, but now a tool to bring in dinar?

Well, I would imagine it has to depend on a few things.

Were more people cashing out IQD for USD to hold vs IQD because of instability?

CBI can purely see demand 1st hand.. If the balance shifts to more people preferring USD, the demand for IQD drops & vice versa.

Therefore, if the IQD shows less demand, this means it has less value. That may concern Shabbs..

But pulling IQD from the market at the current market value is going to be much better than puling it from the market at post-R/V value, right???

We may see a movement of the peg on against the dollar. Something has to counter the dropping demand. This can not be good for inflation, and it may require a boost in value.

Great chance for Shabbs to draw in IQD though.. Almost makes you wonder if it was intentional.

As for the auctions, you really have to look at it like this.

GOI receives USD in profits for Oil/Crude sales. GOI takes the USD brings it to the CBI and receives IQD in exchange to pay employees. This brings IQD into the market.

IQD basically is the form (1 of 2) of the local currency. Used & exchanged for goods & services. However, some businesses also need to exchange their IQD for USD to purchase foreign goods.

Why? Because USD is convertible as the IQD is not. USD is a better form of payment to foreign businesses.

As for employees, they are likely paid in IQD as well, and it may require business owners to also exchange their USD for IQD to pay workers.

It is basically a big contious exchange (a circle so to speak).

The CBI profits roughly 13 dinars for every 1170 or so traded. That is their spread. Basically a penny for every dollar.

So, if the CBI has auctions of roughly 150,000,000 per day, they are profiting roughly $1,500,000.. But they have to encounter for over-head, such as paying employees, equipment, etc.

Could the CBI pull in IQD? Yes, easily, if the IQD was not in demand... It would practically need to be a requirement to maintain/stabilize the value.

[sonnywd]

Sorry, your #s don't add up.

Lets say the 43,000 members hold IQD. Each hold 1,000,000 IQD

43,000 x 1,000,000 = 43,000,000,000.

Your speaking of 43 Billion IQD (Not trillion)

Now, to further expand on the 43,000 members of DV

Many are duplicate accounts (those that were once banned & rejoined, duplicate accounts, bots, and those who may be researching).

I would still argue that a majority of that 43k holds or at one time held IQD.

Lets not forget that some may have sold off their holdings & any new member who bought from a member selling their holdings may have signed up.

A lot of people may hold 1-5 million, but you may also be surprised on how many may only hold 200k or 500k...

So, lets play with better #s

Lets say the average holdings were 2.5 Million

And lets say 45,000 people are invested.

That would equal 112,500,000,000.

AM has done a good job on allowing DV to be the first in results of a search string via google, yahoo, or any other internet search engine.

Anyone who is a member of a IQD site likely has an acct with DV.

But, I could easily be wrong... Much more could exist than we think on U.S. soil held by individuals.

I would find it hard to believe it would be over 1 trillion... But I certainly wouldn't be shocked..

Kind of a catch-22 situation... If we account for 1 trillion, that's a pretty size-able amount. Would we really get locked out upon trade & exchange with us holding that much?

If it was realistically in a 150-200 billion range, how many IQD truly exists? 30 T seems rather high for a country who uses both USD & IQD.

My bad. Too many zeroes. Still alot of money that isn't in play in country.

Edited December 28, 2011 by sonnywd

[Darin]

Yes I remember slightly about reading that, I would like to read that one over again though....I dont think they did that through the auctions though....but I dont remember...its also important what exactly they did with it...everytime they have withdrawn liquidity, they dump it right back into play....

Simple reasoning...

The presence of the US likely helped heighten the demand for IQD.

US soldiers had accounts, carried IQD, and paid workers via IQD.

Upon the event of their departure, this money was likely exchanged back through the CBI and therefore the CBI had the ability to consume up a large portion of IQD.

Bank accounts were closed, IQD was cashed in, etc. etc.

That went to the CBI.. CBI likely has no reason to re-distribute it because it would be additional funds in the market.

Now with the political turmoil, the demand for IQD is not remaining high. That is not helping the cause for the demand to be present to put that IQD back into circulation.

If anything, more than likely, IQD is making its way back to the CBI in request of USD.

Once again, simply put, this is not helping the value of IQD.

IQD is likely being returned to the CBI because of a drop in value.

The CBI is likely drawing in IQD, not because it wants to, more than likely because they have to as people exchange for USD.

Could the CBi benefit from less in circulation? Obviously ya..

My bad. Too many zeroes. Still alot of money that isn't in play in country.

Not really, that's the IQD amt

100 Billion IQD =

$86 million

If oil is sold for $100/barrel

And they produce/pump/export 3,000,000 (3 million) a day

That's nearly $300 million per day alone on export.

Long story short, we're basically (or could be basically) 30% of a liability (as of now) for what they make in a day (just one industry alone)

At 500 billion IQD =

$430 million

So, us as a collective whole may equal one day out of their entire year in terms of revenue just from their primary source of income (industry).

Now imagine for yourself, if you had to spend 1 days worth of work on something entirely crazy.. Could you afford it? I think we could all spend 1 days worth of work in terms of money made towards something if need be.

[zigmeister]

We may see a movement of the peg on against the dollar. Something has to counter the dropping demand. This can not be good for inflation, and it may require a boost in value.

Great chance for Shabbs to draw in IQD though.. Almost makes you wonder if it was intentional.

As a matter of fact I have wondered if it was intentional. I cannot believe CBI did not calculate the possibility of the dollar strenthening against the

dinar. But maybe not, maybe no one calculated the dollar would strengthen, but central banks have information that we do not. I do think Shabibi knew when the troops left what could happen. However he said when they left it would strengthen the dinar. The process is the opportunity to pull dinar out of the market, less of it makes it more valuable, raise the exchange rate it could become much stronger in Iraq.

[Sowhat]

Simple reasoning...

The presence of the US likely helped heighten the demand for IQD.

US soldiers had accounts, carried IQD, and paid workers via IQD.

Upon the event of their departure, this money was likely exchanged back through the CBI and therefore the CBI had the ability to consume up a large portion of IQD.

Bank accounts were closed, IQD was cashed in, etc. etc.

That went to the CBI.. CBI likely has no reason to re-distribute it because it would be additional funds in the market.

Now with the political turmoil, the demand for IQD is not remaining high. That is not helping the cause for the demand to be present to put that IQD back into circulation.

If anything, more than likely, IQD is making its way back to the CBI in request of USD.

Once again, simply put, this is not helping the value of IQD.

IQD is likely being returned to the CBI because of a drop in value.

The CBI is likely drawing in IQD, not because it wants to, more than likely because they have to as people exchange for USD.

Could the CBi benefit from less in circulation? Obviously ya..

That's why the a law needs to be passed making the IQD the official currency and making the USD illegal. This was mentioned months ago in an article and now you are seeing why it is needed.

[MrFnHappy]

Regarding the auctions.

The GOI gets USD from oil sales. The GOI then takes those USD to the CBI to buy dinar. Those dinar go into circulation via salaries and spending on gov sponsored projects. Those dinar get back to the banks via merchants, loan repayments, etc. The banks bring these dinar to the CBI to buy the USD the GOI used to buy dinar.

FYI, most of the USD bought at auction LEAVES Iraq. A very small % of the USD stays in Iraq as cash, usually somewhere between 4-7%.

[keepmwlknfny]

Regarding the auctions.

The GOI gets USD from oil sales. The GOI then takes those USD to the CBI to buy dinar. Those dinar go into circulation via salaries and spending on gov sponsored projects. Those dinar get back to the banks via merchants, loan repayments, etc. The banks bring these dinar to the CBI to buy the USD the GOI used to buy dinar.

FYI, most of the USD bought at auction LEAVES Iraq. A very small % of the USD stays in Iraq as cash, usually somewhere between 4-7%.

You should send BL a message letting her know.......

[MrFnHappy]

I wanted to add that what we witness through the auctions is just a re-circulation of dinar.

The following references the Fed, but the principles apply.

Velocity of money

Velocity refers to the rate of turnover in the money supply. When the Fed injects cash into banks by purchasing assets, it expects the banks to start lending the money. If the banks simply hoard the cash, the multiplier effect is 1. However, with higher velocity the Fed’s impact is much greater, both with injections and tightenings.

Let’s look at how the multiplier effect works. All banks are required to keep a certain percentage of deposits on reserve at the Fed. This prevents an infinite multiplier. For example, if the reserve requirement is 10%, banks can lend out 90% of their deposits. Let’s say the Fed injects $100 into the money supply by buying treasuries from Bank A. Bank A then lends $90 to a business that deposits it in Bank B. Bank B then lends $81 to a consumer who writes checks which are deposited in Bank C. Then Bank C lends $72.90 which is deposited in another bank. Already the Fed’s $100 injection increased the money supply by $253.90. So far the multiplier is about 2.5. The Fed is claiming that the velocity is currently very low so its moves must be more dramatic.

This is how M2 increases.

[wilecoyote]

This is very good. Thank-you Bond-lady for bringing this insite to the group.

[MahiMahi]

I'd like to hear a rebuttal from BL

[tosmith96]

BondLady's Afternoon Chat 12/27/2011 Today at 7:56 pm [Mr Rockett......Thank You!!!] Say BL, what do you make of the large auctions as of late? [bondLady] 1 sec sybil plz an ill sure tell ya [bondLady] its a bigggie tho [bondLady] well i talked about this earlier [bondLady] if ev 1 will sit on there hands a min [bondLady] im gonna throw out for u all a theory of mine [bondLady] and we did talk about it earlier in here an i did have help with the numbers [bondLady] ok follow me on this ok [bondLady] ok [bondLady] for over a month now [bondLady] iraqs been talkin bout troop withdrawl [bondLady] and how it was gonna cause inflation [bondLady] usa wouldnt be spending in the markets [bondLady] unemployment [bondLady] cause so many worked at the embassy [bondLady] the iraqis [bondLady] and how shabibi came out and said like 6 weeks ago [bondLady] if inflation got out of hand in the double digets [bondLady] that he would act QUICKLY and control it [bondLady] ok where was i [bondLady] shabibi says [bondLady] he had the means to do this an he would not hesitate [bondLady] so then in the last month [bondLady] we see a lot of articles [bondLady] sayin how the usd was raising in value [bondLady] an the dinar was devalueing [bondLady] due to troop withdrawl an unemployment an inflation [bondLady] so then the cbi just kept on putting articles out almost daily or every other day [bondLady] about the iqd devalueing [bondLady] even to the point it said it was down to 1200 and something [bondLady] and that the cbi was working on this to stop the loss an get back the gains of the iqd [bondLady] even tho we saw every day that the cbi showed 1170 [bondLady] he still said it was 1200 something [bondLady] now [bondLady] we knew in order to rv [bondLady] they had to dry up the biggest part of the 000 that was in iraq [bondLady] what we as investors hold sure it counts but what the iraqis hold is what trully matters [bondLady] now like 6 months ago [bondLady] when the cbi kept on showing articles [bondLady] about how much they had still out in circulation [bondLady] i had figured it to be a lil over 6 trillon dinar back then [bondLady] and shabibi had said also in articles [bondLady] how it needed to be brot back down into the billons to bring on a rv basically [bondLady] so we had thot back then wow if they still got that many trillons still out in circulation [bondLady] it would take a long time [bondLady] cause the cbi been pullin the 000 notes back into the cbi with every auction [bondLady] in these auctions u see them buying us dollars not selling dinars [bondLady] they are useing the dinar to buy usd [bondLady] so by doin this dryin up the supply [bondLady] so we come back up to date now [bondLady] to say 3 an 4 weeks ago [bondLady] the cbi kept talkin about inflation [bondLady] an kept talkin about the economy [bondLady] and all the while thru this troop withdrawl [bondLady] kept sayin how the troops when they left [bondLady] would cause the dinar to go up in value [bondLady] it would support the economy [bondLady] but then he says in the last 2 to 3 weeks [bondLady] the dinar is devalueing? [bondLady] well how can this be shabibi [bondLady] u said troops leavein would strengthen the dinar and make it grow in value? [bondLady] but instead shabibi is sayin it was devalueing [bondLady] and he was workin franticly to restore its rate to what it was [bondLady] so he says [bondLady] here we go to the tricky part [bondLady] he says in order to control the inflation [bondLady] caused by troop withdrawl and the spike in the dollar rate [bondLady] was cause because the troops had taken there usd out when they came home [bondLady] causein the dinar to devalue [bondLady] so he says [bondLady] im gonna flood the iraqi streets with the dollar [bondLady] to keep it from devalueing any more [bondLady] and he did [bondLady] so this brings us to the work i had our team do today [bondLady] i had them go back the last 10 auctions [bondLady] and get the amounts [bondLady] i kept thinkin about all the things shabs had said over the last 6 months [bondLady] and why the devalue and why the high auctions [bondLady] shabibi is so dang smart [bondLady] too smart [bondLady] but this is it and i think i did figure it out [bondLady] so i had our team do the figures an tell me what they were [bondLady] for the last 10 auctions [bondLady] in that period [bondLady] i was shocked at the amount [bondLady] the cbi was able to pull back into the cbi [bondLady] 2.29 trillon and some change in the last 10 auctions [bondLady] are u as shocked as i was? [bondLady] 2.29 trillon [bondLady] 10 days not even 2 weeks [bondLady] 10 days [bondLady] so then from the time shabs 1st started talkin about it [bondLady] we can assume that within the last 4 to 5 weeks time [bondLady] the cbi has pulled back in every bit of 4 trillon [bondLady] and higher give or take a few billon [bondLady] or trillon [bondLady] id have to go back farther than 10 days to figure out that [bondLady] so if indeed there was only 6 trillon left in circulation 6 to 8 months ago [bondLady] and what shabibi has done now to draw back in the 000 notes [bondLady] he pulled off the biggest strategic plan of all times [bondLady] he got the iraqis who have been hordeing there dinars waitin on a rv [bondLady] to go and cash them in for usd [bondLady] for the purchasing power [bondLady] look at the auctions [bondLady] huge amounts of banks [bondLady] 23 to 28 and 29 banks [bondLady] 100's of billons of dinar being used to buy usd [bondLady] cause they were told the dinar was devalueing rapidly [bondLady] causeing them to let go of the 000 notes an buy usd [bondLady] so theyd have better purchaseing power [bondLady] flooding the iraqi streets with usd [bondLady] to control the dinar indeed [bondLady] and as ive said they did need to reduce the money supply in order to rv [bondLady] man wtg shabs [bondLady] reducing it at 2.29 trillon in 10 days is huge [bondLady] so then we look over here at parliment [bondLady] parliment split to the 3rd of january suposedly [bondLady] with 3 or 4 of the hugest laws sitting on there table to be passed [bondLady] they leave for 2 weeks [bondLady] the hcl [bondLady] the budget [bondLady] the investors laws [bondLady] theres 1 more but cant rem what it is [bondLady] theres many that need to be [bondLady] but the 1s that will affect the peoples lives the most are those 3 right now [bondLady] now in the budget [bondLady] is 1 share of the oil rights to each iraqi citizen [bondLady] sadr wanted that [bondLady] it was in the budget [bondLady] theres articles that state that [bondLady] that 1 share [bondLady] has hcl written all over it [bondLady] to give any thing of the ouil to the people like that [bondLady] has to have the hcl [bondLady] its in the budget [bondLady] to be able to pass the budget [bondLady] to pass the hcl and the budget [bondLady] the biggest in iraq history [bondLady] they have to have the investors laws [bondLady] these 3 things with out any of the 3 wont work [bondLady] ok [bondLady] so what did shabibi do [bondLady] knowin they need to get thes laws passed asap [bondLady] and open the budget on time not like theve done thru the recent yrs [bondLady] they had to do stuff fast an make some genious moves by shabibi [bondLady] how could he make the iraqis let go of there dinars theve been holdin onto thinkin it was gonna rv any day [bondLady] and shabs knowin he had to dry up the supply [bondLady] so the dinar is devalueing [bondLady] rapidly [bondLady] were doin all we can to contain it right now [bondLady] the dollar rate is riseing fast [bondLady] the dinar is goin down [bondLady] articles sayin how iraqis were rushin to buy usd with there iqd [bondLady] how brillant [bondLady] 2.29 trillon dinar in the auctions in 10 days [bondLady] un heard of [bondLady] he did and is pullin it off [bondLady] as he said he wants to begin the new currency or raising the 000 in early 2012 [bondLady] he couldnt do that with so many trillons left out in iraq [bondLady] same as the ld's [bondLady] if the whole world had the new lower denominations [bondLady] but iraq didnt have them [bondLady] it would be useless [bondLady] it only matters if there in the hands of the iraqi citizens [bondLady] same as the 000 [bondLady] the whole rest of the world can have them [bondLady] but they needed to be almost gone off the streets of iraq [bondLady] for this to happen [bondLady] there had to be aa huge strategic move by the cbi [bondLady] to get the people to quit hordeing the 000 notes [bondLady] the usd is raising its rates its goin up in value [bondLady] the dinar is fallin [bondLady] hurry hurry buy usd while u can still get the rate before the dinar falls any farther [bondLady] see where im goin with this? [bondLady] an so they did [bondLady] 2.29 trillon in just 10 days times sucked back into the cbi to be destroyed [bondLady] its what had to happen [bondLady] u all should be feelin really good right now [bondLady] to know this [bondLady] to see this [bondLady] we are trully at the door [bondLady] pass the budget [bondLady] pass the hcl [bondLady] pass the investment laws [bondLady] the gov will take care of itself [bondLady] an the bombings wont totally stop but they will fade to black soon [bondLady] lots of these people blow them selves up because alqueda would pay them 200.00 for there family [bondLady] an some would sacrifice themselves because they loved there family [bondLady] thot they was doin the right thing to help them live [bondLady] and to survive [bondLady] so they would [bondLady] lots of that will stop when there money is worth more [bondLady] anyways [bondLady] i thot this was pretty dang huge [bondLady] what do yall think [bondLady] as i drop the mic an walk off

<BR><BR><BR><BR>To Bondlady's credit, I just calculated the auctions from Dec-1 through Dec-28.<BR><BR>The number is $3,737,969,000<BR><BR><BR>So that equals almost 4 TRILLION DINARS. So they pulled almost 4 Trillion IQD off the market in less than 30 days. There were 9 days where NO ACUTIONS were done. IF this is the case, I truly believe we are sitting in RV row!! Edited December 28, 2011 by tosmith96

[tigerstripes]

I wanted to add that what we witness through the auctions is just a re-circulation of dinar.

The following references the Fed, but the principles apply.

Velocity of money

Velocity refers to the rate of turnover in the money supply. When the Fed injects cash into banks by purchasing assets, it expects the banks to start lending the money. If the banks simply hoard the cash, the multiplier effect is 1. However, with higher velocity the Fed’s impact is much greater, both with injections and tightenings.

Let’s look at how the multiplier effect works. All banks are required to keep a certain percentage of deposits on reserve at the Fed. This prevents an infinite multiplier. For example, if the reserve requirement is 10%, banks can lend out 90% of their deposits. Let’s say the Fed injects $100 into the money supply by buying treasuries from Bank A. Bank A then lends $90 to a business that deposits it in Bank B. Bank B then lends $81 to a consumer who writes checks which are deposited in Bank C. Then Bank C lends $72.90 which is deposited in another bank. Already the Fed’s $100 injection increased the money supply by $253.90. So far the multiplier is about 2.5. The Fed is claiming that the velocity is currently very low so its moves must be more dramatic.

This is how M2 increases.

So.......if their current excess account is around three times the reserve requirement, what number would you put on the multiplier?

[powerpager]

Great Post !!!

[Hamels]

I'd like to hear a rebuttal from BL

You would have to go to her site...She left here a few months ago

[Carrello]

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.

And I have rarely seen a Bond Lady chat that did not start a discussion. Some take BL for gospel, just as some take Keep as gospel. But there are many that take the skeleton that Bond Lady provided, through discussion and debate, add the physiology, and eventually come up with a body.

For those experts out there to say we are basically puppets, is really an insult.

I'd like to hear a rebuttal from BL

Bond Lady won' post here anymore. Can you understand why?

Edited December 28, 2011 by Carrello

[zantac]

Unbelievable how so wrong Bondlady is about the auction, not a clue, not even close.

The auctions are there to raise revenue for the GOI, not the CBI.

They sale US$ for IQD to help pay for or everyday business for the country, nothing more nothing less.

If the CBI encourage the Iraqi citizen to exchange the IQD they hold for $s then everything that the GOI & CBI have done to take the US$ of the streets of Iraq for daily trade was pointless.

Bondlady needs some education on the auction me thinks, sad realy as I have always agreed or liked information from her up until now.

Just goes to show if you try to hard to impress the Teacher you end up making a fool of yourself in front of the pupils

[HisHands]

Zantec I would tend to believe you more if you knew how to use proper grammar and how to spell properly. It is hard to take you seriously when I have to keep stopping and trying to figure out what word you are meaning to use. I think BondLady has more knowledge in this area than you pretend to have.

[MrFnHappy]

So.......if their current excess account is around three times the reserve requirement, what number would you put on the multiplier?

Forgive what is apparently my ignorance, but I didn't realize there was a relationship between reserves and their excess account...in fact, I'm not aware that Iraq has an excess balance account.

Or perhaps I just don't understand your question.

[eileen]

Zantec I would tend to believe you more if you knew how to use proper grammar and how to spell properly. It is hard to take you seriously when I have to keep stopping and trying to figure out what word you are meaning to use. I think BondLady has more knowledge in this area than you pretend to have.

BAWAHAHAHAHAHA!!! TOO FUNNY.