Some info about the Bond Market

You may want to treat this as a rumor...because I can not verify the translation of this pdf....but here goes anyway...and I will post a reply from this....

News and Announcement on the Arabic side of the CBI!!

Iraq's Central Bank approved auction procedures for the sale of central bank remittances for (91) days
12/13/2012 [You must be registered and logged in to see this link.] CBI acknowledged auction procedures for the sale of Central Bank transfers
2012 was / 12 / for (91) and one and ninety days in the amount of two hundred billion Iraqi dinars on 4
Issue full sale amount as at a discount (5%) and the number of participating banks (5) five
The banks winning banks were four (4) banks.

Announcement Number (C73 ) 04-Dec-2012

The auction No. C73 for Central Bank of Iraq bills based on a uniform price auction for IQD 200'000'000'000 par value for the bills concluded on 04-12-2012.

The total public bidding is IQD 381'000'000'000 and the cut-off yield (the highest yield of the successful bidder) determined by the auction was 5.00%.

Details (amount in Iraqi Dinars)

Notes

Securities Offered

Discount

Total Offerings 200'000'000'000

Total Public Bidding 381'000'000'000

Pricing Uniform

Term of Security (days) 91

Settlement Date 05-12-2012

Maturity Date 06-03-2013

Competitive Bidders 5

Winning Bidder 4

Total Valid Competitive Bids 381'000'000'000

Total competitive Bids Awarded 200'020'000'000

Range of Yields for Valid Competitive Bids [4.40%-9.50%]

Cutoff Yield (%) 5.00

Bids Received as % of Amount Offered 190.50 ??? ?????? Auction No ????? ?????? Auction Date ????? ??????? Issue Date ????? ??????? Settlement Date ????? ????????? Maturity Date ???? ????????? Public Offering
C49 03/01/2012 04/01/2012 04/01/2012 04/04/2012 150,000,000,000
C50 17/01/2012 18/01/2012 18/01/2012 18/04/2012 150,000,000,000
C51 31/01/2012 01/02/2012 01/02/2012 02/05/2012 150,000,000,000
C52 14/02/2012 15/02/2012 15/02/2012 16/05/2012 150,000,000,000
C53 28/02/2012 29/02/2012 29/02/2012 30/05/2012 150,000,000,000
C54 13/03/2012 14/03/2012 14/03/2012 13/06/2012 150,000,000,000
C55 27/03/2012 28/03/2012 28/03/2012 27/06/2012 150,000,000,000
C56 10/04/2012 11/04/2012 11/04/2012 11/07/2012 150,000,000,000
C57 24/04/2012 25/04/2012 25/04/2012 25/07/2012 150,000,000,000
C58 08/05/2012 09/05/2012 09/05/2012 08/08/2012 150,000,000,000
C59 22/05/2012 23/05/2012 23/05/2012 22/08/2012 150,000,000,000
C60 05/06/2012 06/06/2012 06/06/2012 05/09/2012 150,000,000,000
C61 19/06/2012 20/06/2012 20/06/2012 19/09/2012 150,000,000,000
C62 03/07/2012 04/07/2012 04/07/2012 03/10/2012 150,000,000,000
C63 17/07/2012 18/07/2012 18/07/2012 17/10/2012 150,000,000,000
C64 31/07/2012 01/08/2012 01/08/2012 31/10/2012 150,000,000,000
C65 14/08/2012 15/08/2012 15/08/2012 14/11/2012 150,000,000,000
C66 28/08/2012 29/08/2012 29/08/2012 28/11/2012 150,000,000,000
C67 11/09/2012 12/09/2012 12/09/2012 12/12/2012 150,000,000,000
C68 25/09/2012 26/09/2012 26/09/2012 26/12/2012 150,000,000,000
C69 09/10/2012 10/10/2012 10/10/2012 09/01/2013 150,000,000,000
C70 23/10/2012 24/10/2012 24/10/2012 23/01/2013 150,000,000,000
C71 06/11/2012 07/11/2012 07/11/2012 06/02/2013 150,000,000,000
C72 20/11/2012 21/11/2012 21/11/2012 20/02/2013 150,000,000,000
C73 04/12/2012 05/12/2012 05/12/2012 06/03/2013 150,000,000,000
C74 18/12/2012 19/12/2012 19/12/2012 20/03/2013 150,000,000,000

The schedule below for 91-day T-bill auctions is preliminary and subject to change.

And this is the article to go with CBI news and announcement CENTRAL BANK OF IRAQ LAUNCHES MECHANISM TO SUPPORT LOCAL BANKS
Iraq, December 13, 2012
The Central Bank of Iraq decided to include a number of local banks in the foreign currency auction and increase the financial shares granted to the banking companies.

A statement by the CBI cited “Within the framework of the CBI’s efforts to develop its monetary policy and support the national economy, the managing council of the Bank took many measures including attracting several local banks through opening the bonds and financing them by the CBI according to specific mechanism set for this purpose in addition to allow these banks to take part in the currency auction.”

“It was also decided to grant the governor of the CBI power to decrease the US dollar price which is IQD 1179 for one dollar as an enhancement to the cost of the Iraqi dinar according to the requirements of the market,” the statement concluded. [You must be registered and logged in to see this link.]

Here is a reply from Stryker....found it interesting....

Here is more info on the BONDS

C73 04/12/2012 05/12/2012 05/12/2012 06/03/2013 150,000,000,000

As you can see by this line on the chart representing the T-Bill and auction that is talked about in this and another article of yota's these were the schedule dates and the projected amounts of those T-Bill Bond offerings they were going to have but as you can see they were just projections until now. We know this because the dinar amount offered for sale was not 150,000,000,000 it was 200,000,000,000 billion dinar. So this proves that this was the first bond offering (T-Bill) in over a year.

Then on top of that you have the article saying; A statement from the CBI cited, "attracting several local banks through opening the bonds and financing them by the CBI according to specific mechanism set for this purpose in addition to allow these banks to take part in the currency auctions" .......see it is not the daily auctions it is a Bond type T-Bill offering which is what economist have told me would happen if they were about to change their monetary structure again.

1. Govt bonds are sold in the primary market through auctions. ... Treasury Bills are zero coupon bonds issued with less than one year maturity. [You must be registered and logged in to see this link.] Oh by the way, this should be the next Bond offering;

C74 18/12/2012 19/12/2012 19/12/2012 20/03/2013 150,000,000,000

Next week we should see another announcement of how this one turned out.
Has anyone ever seen one in the last year, two years, well that's because it has been since 2006 that they had Bond T-Bill auctions and that is how the rate dropped from 4000 : 1

to 3000 :1

to 1170 : 1

and now we should see an even bigger drop

and I hope to 1:1 or better.....

And here some more from Stryker..16-12-2012 11:19 AM
CBI sells money orders in the amount of 200 billion dinars
16-12-2012 11:19 AM


Solution -
Acknowledged CBI procedures auction for the sale of remittances bank for 91 days at $ 200 billion dinars.
statement said the central bank on Saturday, said he was selling the full amount الإصدارية at a discount of 5% and won 4 banks post auction out of 5 banks'.
Iraq has two systems for the sale of government bonds are bonds the central bank is short-term bonds and days, and treasury bonds long-term 5% interest rate issued by the Ministry of Finance based on the law of public debt, which conferred upon issuance of remittances Treasury guaranteed by the government.
The Central Bank of Iraq as an agent financially to the Ministry of Finance Department auctions remittances Treasury of the Government of Iraq on behalf of the ministry, which will, according to the determinants of the annual budget law by issuing treasury remittances for the purposes of state funding.
[You must be registered and logged in to see this link.]

**** treasury bonds long-term 5% interest rate issued by the Ministry of Finance based on the law of public debt

**** which will, according to the determinants of the annual budget law by issuing treasury remittances for the purposes of state funding. THE LONG TERM BOND OFFERING THAT WILL BE USED TO PAYOFF ALL GOVERNMENT DEBTS THAT ARE NOT PAID FOR FROM CASH FROM THE GOVERNMENT ITSELF.

SHORT TERM AND LONG TERM T-BILLS..I also wanted to add that these are things that they will not contradict and try to cover up because they need to raise awareness to the Bonds but now the real speculators that have been following the dinar will start waking up.

Iraq has done a great job convincing people that they are not ready to change there system through the negative media campaign.

Im guessing this is a very good thing that is happening??

dezertheat wrote:Im guessing this is a very good thing that is happening??

Here dezertheat, this is a reply I posted to one of my members on my site that had the same question, I hope this helps you!

Tony, from all the research that I and many others have done over these past years there have been some real important areas that need completed before Iraq could change their currency the way we all want it to happen and this is the biggest economically, let me try to explain.

A countries currency is value according to what the world thinks it to be, so they must have a GREAT STORY before and when they make such a BIG monetary system change, called the Framework.

T-Bills work to raise funds, these funds are used to (in the case of the US) print more money to keep our government going because if not we would not make our obligations. In the case of Iraq they want to pay down their debt (what the US should do), or in this case pay it off to zero.

Look at it this way, the dinar is worth one tenth of a cent;

....but they have increased their oil production to be the second largest in OPEC...

....but the price of oil today is $106.25 for Sweet Crude compared to $25.65 in 2003...

....their debt was in the hundreds of billions compared to around $13 billions now...

......with all these, and there are other things like GDP is way way more then it was in the '80....

BUT IF YOU TAKE ALL DEBT AND PAY IT OFF THROUGH CASH AND BONDS THEIR PERCEIVED DEBT IS ZERO WHAT THEN DO YOU AND THE WORLD BELIEVE THEIR CURRENCY TO BE WORTH? THE ANSWER IS A LOT MORE THEN A TENTH OF A PENNY, MUCH MUCH MORE WHEN THEY HAVE ALSO LOWERED THEIR M2 BY DELETING CURRENCY FROM THE MARKET PLACE OVER THE LAST YEAR PLUS.

IT IS ALL IN PROSPECTIVE BUT LET'S SAY WE PAID OUR 16 TRILLION DEBT DOWN TO ZERO, WHAT DO YOU THINK THAT WOULD DO TO THE VALUE OF OUR DOLLAR ?

Yota, good to see you over here and thanks for letting me know when my infomation is being used by others!

Stryker1 wrote:

dezertheat wrote:Im guessing this is a very good thing that is happening??

Yota, good the see you over here and thanks for letting me know when my infomation is being used by others!

NP Stryker, I got you covered, as you usually have me covered Bro!!

nice to see yota finally posting ...see u in the forum all the time... lol .... and as always stryker u know i loves seein u post

Bondlady wrote:nice to see yota finally posting ...see u in the forum all the time... lol .... and as always stryker u know i loves seein u post

Anytime Bondlady, just trying to payback for what you have done for all of us, I'll try to do more as we get closer to the new Fiscal Year and what I see as our best chance of this taking place.

I have said several times that if Iraq starts their Long Term Bond offerings our time is here. And with all the other positive news of late we should be in a good place. As the month comes to an end we should see other informative, educational articles about the program rules.

Thanks for providing a professional environment,

Stryker

wow!

thank you so much!!!

always stryker and your imput is always welcome here, and we thank you, and i always hold my forum to high standards, every one pretty much shows and knows how to respect others here...unlike...well um u already know suga lol....ill look forward to reading more from you and ty so much...ps feel free to drop by in chat any time also we would love to go "live" with ya merry christmas...Bondlady

Thank you so much for the invite, I'll try to make one soon. Also I'd like to extend an invitation for you to stop by our forum as well, if you want to; email me and I can send you the address. I think you would like my Countdown thread. We only have a select few members and it is a very private site but you would be an honorary member and my personal guest.

Merry Christmas to you and all your members!

Hi Stryker and Yota, nice to see you and thank you for your take on the bonds, Scooter has said watch for the bond market and when I seen your post got excited....hope you come into chat someday Bondlady has a great site here we all repect one another and no bs...hope to see you two soon, and Merry Christmas to you