This answer is from GENERATION X ( who posts on two (2) other Forums See Links to his posts below )
GENERATION X is 71 years old He has a Ph.D. in Cellular Physics CEO - Medical Device Manufacturing and has been studying Iraq Dinar since investing four years ago His posts are ALL quite in formative
Post by GENERATION X
There seems to be a general misconception about the daily auction that needs to be cleared up. Iraq has to have the daily auction whether there is a RV or not.
They buy Internationally with the American Dollar and since 96% of all staple goods and machinery are imported all purchases will require Dollars. ( There is your answer, Rick )
The CBI has been using this auction also to call in the K000 notes all thru 2008 as a vehicle to remove 3 zeros from the currency and shrink the amount of Dinar in circulation.
After the reval the auction will continue; the notable change will be the amount of Dinar needed to purchase dollars, this in itself raises the purchasing power of the people of Iraq.
The lull we see now in the daily auction is thought provoking to say the least as this is now the longest period since 2007 without something happening.
There was an unannounced web address change that threw everyone in a frenzy but nothing came of that. This lull is very interesting. I hope this clears up the misconceptions about the purpose of the daily auction. GenerationX
Here are ALL the posts for Generation X Worth reading ,Most are very informative.
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