Friday, December 30, 2011

2011 In Review

What a year, huh?  We started it off thinking RV any day now and we end it the same way.  There has been some progress in Iraq, though.  The biggest of course being the withdrawal of US troops which was completed Dec. 15, prompting the declaration that Iraq is now a sovereign country.  And in the world of dinarians:
  • In January the criminal background of Dan "Checkmate" Atkinson was revealed
  • In April Fifth Third Bank announced that they will stop selling dinar, stating that they sell currency as a service to their customers traveling abroad, not as an investment vehicle
  • In May Ali at Dinar Trade announced that he was suspending sales in the US
  • In May Phoenix came out of "retirement" and launched his Blogtalk Radio broadcast where he constantly assures his listeners of the impending revaluation of the Iraqi dinar when he's not discussing solar flares, earthquakes, astrology, the Mayan calendar, EMP, comets ... etc.
  • In May "Prophet" George Robinson gave a rate and date prediction that flopped
  • In May "Prophet" Kim Clement said something would happen suddenly with the dinareee - no rate or date was given and no rate or date change has yet occurred.
  • In May SteveI from People's Dinar told his followers that he owns a billion dinar and said the RV would happen by the end of May with a rate of over $3
  • In July the BH Group's offices were raided by authorities a week after the guru summit in Toledo, ending their dinar sales
  • In July Roger Dorman announced that he was accepting a position with the fine folks at The Treasury Vault, but only after a few curious dinarians discovered that its owner is Angela Dorman, his wife.
  • In September Dinar Douchebags was launched, striking fear into the hearts of douchebag dinar gurus and pumpers everywhere
  • In September Adam Montana predicted an RV by Thanksgiving - another flop
  • In October it was revealed that Tony "Breitling" Elder had Treasury Vault owner Angela Dorman (alongside her "Dinar Daddy" husband Roger) listed as a friend on Facebook, had compiled a report on the dinar with Roger Dorman, and is owner of Select Play Media, the company name that comes up on PayPal when you order the ISX Report that Tony and Roger are promoting  
  • In November David at resigned to start his own dinar sales business 
  • In December Yukon from the IQD Team announced his intention to launch a MLM business with a juice product, causing yet another dinar site split
I'd like to take a few minutes to thank my readers for their support over the past few months.  This wasn't an easy task, trying to go up against well established gurus with hundreds or thousands of followers who make people think that they're going to be rich any day now.  I'm not going to draw thousands of followers by telling people that they're probably not going to get rich, or that the most they'll get is probably 2 or 3 times their initial investment, and that there's a good chance that they'll actually lose money.  I can't post links to my site on dinar forums of course. Many of them have been mentioned in my posts, and others consider what I do "bashing".  You'll never see any of my material posted at Dinar Daddy, despite the fact that the owner Roger Dorman regularly posts what he admits to knowing are blatant lies.  I'm not posted at Dinar Guru because I'm not a guru.  I don't advertise so I don't have banners anywhere.  People find my site through Google searches, trying to find the facts on this investment, and trying to find out who the hell these douchebag gurus and pumpers are, and then they post links to this blog either on their blogs, on Facebook, in emails, or on another forum before some mod usually deletes them.  This site has increased in popularity primarily because of word of mouth advertising.  So it's you, my readers, who get the word out.  I truly appreciate that.

I remember the first few weeks I was only getting a few hits a day, and most of them were either me checking my posts or some faceless web crawler looking for information to index.  It seemed like nobody was interested.  I would type "dinar douchebags" in Google and nothing came up, so obviously Google wasn't helping.  But I just kept on posting.  It was like Field of Dreams ... "If you build it they will come".  Finally Google started cooperating, people started visiting, and the next thing I knew gurus were protesting and scrambling to cover their backsides.

The #1 post on this blog is by far "The Pumpers", where I list the vilest offenders and any information I have on who they are and what they do.  It was one of my first posts, and it has received over 3 times as much traffic as any other post.  People want to know who these guys are.  #2 is the first Douchie award for Breitling, and #3 is "Breitling Busted!!!".  Yes, Breitling has been very good for my blog.  So many out there consider Mr. B one of the good guys.  I think a lot of people are shocked to find out how much wrong information he puts out and how shady his business practices are.  #4 is "Dinar researchers/Analysts".  A lot of people out there are looking for quality information because they've figured out that they're not getting it from the gurus.  #5 is "The Montana Trail (Part 2)" where I share my research on Adam Montana.  I see many people now waking up to the fact that Adam Montana is not the brilliant dinar expert that many thought he was.  His admitted background was as a corporate headhunter, not an investment or currency professional.  The man apparently can't even do basic math. 

It's been a challenge all right, but the blog is gaining ground on the gurus.  People email me all the time wanting to know what I know about this guy or that article, or when we're going to see a class action lawsuit.  Some ask me if there are any honest people to listen to.  Some of course tell me that I'm a douche and that the people I'm attacking are good people.  Whatever.  Some want to know who died and made me the judge of the gurus or the savior of the dinar world.  Nobody.  I just write what I think based on my experience and considerable research.  If people don't like what I write they don't have to read it.  But obviously many do read, and quite a few have thanked me for starting this blog to address the voluminous BS that has been spread throughout Dinarland.

As we head into a new year I expect more of the same.  I'll keep awarding Douchies and keep posting from time to time, although I don't anticipate being as active as I have been the last few months.  Most of the information that people are looking for has already been posted.  Hopefully we'll have an arrest or two to announce, and maybe in increase or two in the IQD. 
    What will 2012 bring?  Well I'm gonna go out on a limb and say that the 1170 rate will remain unchanged until at least April. I do anticipate that there will be a change in 2012, but whether it's a straight up RV of the existing currency or a redenomination to a new currency I won't speculate. I think it's likely that forces opposing democracy in the region will test the Iraqi military and government now that US forces are gone. The escalation in violence will probably continue for awhile. Once that passes I think that everybody will start to feel better about the prospects of a free and prosperous Iraq. As for the prosperity of dinarians, we can only hope.

    Happy New Year everybody!

    Thursday, December 29, 2011

    An Interview with Legolas

    During my time at Dinar Vets I was fortunate to come across some posts by a member named Legolas, a former detective who has a unique perspective on the dinar because of his experience in investigating crimes like fraud. (Legolas is known for his cool avatar, which is an animated gif of Stewie from The Family Guy.)  Although our backgrounds are completely different, his experiences and observations are remarkably similar to mine.

    Sam I Am: Thanks for taking the time to share your thoughts on the dinar.  Could you tell us a little about your background?

    Legolas: I suppose that the background which fellow Dinar investors would be interested in would be the 15 years I spent in law enforcement – eight of those years as a Detective, and 6 as a Detective Lieutenant. Extensive training and experience in all types of criminal investigation taught me to base my opinions on tangible evidence gleaned from thorough investigation, and the evidence available in the Dinar situation is overwhelming, to put it mildly.

    Sam I Am:  I understand you investigated fraud.  How does that impact your views on the dinar?

    Legolas: I did investigate quite a bit of fraud.  Obviously, with the Dinar situation, until something finally occurs to resolve the RD/RV debate, it's virtually impossible to label it as fraud, but the indicators are certainly there to make an investigator extremely suspicious.  All one has to do is review the tens of thousands of readily available posts from the various pumpers and gurus over the past 5 years to make a reasonable determination that these people have been either: 1) Lying; or 2) deceived to the extent where it would be virtually impossible to believe that they could be "quite so naive."  Clearly the more likely scenario is that they have created an extremely well-orchestrated program to disseminate false information which is specifically designed to encourage people to buy the Iraqi Dinar - billions, if not trillions of them after the 6-7 years this has been going on.  Personally, given the overwhelming evidence available, I believe it's blatantly evident that these people have been fabricating this information for years, and buyers of the IQD have been eating it up out of desperation and greed.  To believe otherwise is simply incredibly naive at this point in the game.  A person can be wrong once or twice and it be considered a coincidence, but after hundreds, or in some cases "thousands" of times, coincidence is easily ruled out, and frankly, that's a really nice way of putting it.

    Absent an extensive investigation, it's difficult to "prove" motive, but the most obvious would be financial gain.  There are two major beneficiaries of the ongoing IQD disinformation campaign - #1) The dealers, and #2) The G.O.I.  Clearly, and by their own admission, the dealers have been selling literally billions of Dinars each month for several years now, and the number of dealers has grown substantially over time.  Initially, they were making a gross profit margin of roughly 20% above the IQD exchange rate.  That number has now grown to more than 40% in 2011 as their prices have increased - an amazing profit for a relatively low overhead, single product business. 

    Obviously the dealers are therefore the main beneficiary of the undeniably fraudulent efforts of the pumpers and gurus which have been ongoing for many years, but to be fair, there is another - the Iraqi Government and its banks.  Clearly, through the "investment" in the IQD, they have been the recipient of what amounts to extremely long term, interest-free "loans" of millions of Dollars each month.  In theory, all they have to do is keep printing additional Dinars month after month, and exporting them in exchange for U.S. Dollars, or other foreign currencies.  CBI and IMF records demonstrate that the number of Dinars in circulation have in fact grown by "trillions" for the past several years. As long as there is a continued belief that the IQD will "someday" increase in value, purchasers will be reluctant to exchange their Dinars back to U.S. Dollars, and the G.O.I.can continue to exchange what amounts to worthless paper for much more valuable Dollars.  As long as those IQD's remain out of circulation, they cost Iraq virtually nothing aside from the cost of paper and ink.. 

    Therefore, we have two potential perpetrators of fraud, if a person is inclined to believe that this is quite possibly one of the largest ever conceived, and it will continue to grow until or unless the RD/RV debate is finally resolved one way or another.  Hence the obvious dilemma, which only an extensive investigation would resolve.

    Sam I Am: How did you learn about the dinar?

    Legolas: I heard about the Dinar about three years ago from a respected friend who had been convinced that the Dinar was within days, if not hours of revaluing, and that it was a unique opportunity which very few people were aware of. He had invested close to $10,000, so I assumed that there must be something to it. At the time, the risk vs. reward ratio and the apparent likelihood that I might miss out on a “once in a lifetime” opportunity if I didn’t act quickly convinced me to invest without looking into it as carefully as I would have under ordinary circumstances. I knew that it sounded way too good to be true, but at the same time, didn’t want to wait until it was too late to make a decision, and then have to deal with a lifetime of regret if I failed to act quickly. Needless to say, three years later, it’s painfully obvious that there was no need to hurry, and that the implied “imminent RV” is a huge part of the Dinar investment hook. 

    Sam I Am: What do you think about the information you get on the forums?

    Legolas: I guess it depends on what you look at on the forums. Unfortunately, most people are drawn to the Rumors and Opinions contained on the various sites instead of the real news, and due to issues with translation, many of the news stories, already questionable in terms of reliability, are easily misinterpreted or twisted to say what most of us want to hear. That being the case, most of the forums have little actual value, aside from making a great deal of money for the site owners and Dinar dealers. It is human nature to want to believe information which appears to support hopes and dreams, and ignore what would otherwise be easily recognized as common sense. There is a great deal of valuable information presented by some members of the forums, but it rarely receives the attention it deserves for a variety of reasons.

    Sam I Am:
    How did you get started on dinar forums?

    Legolas: My invested friend eventually heard about a forum called “Dinar Rumors” where “sfmedic” apparently got his start. Gradually I became more involved in following and participating in that forum. Within a few weeks, I learned that Med had a second, private group consisting of what he considered to be a “think tank” consisting of a much smaller group of about 110 investors who appeared to have access to information and analysis that we didn’t have at D.R., and which several thousand members anxiously waited for almost daily as Med would pop in to give his Dinar chats. That site was known as “Dinar Veterans” (not the current large D.V. site run by Adam Montana). I was asked to join Med’s private site, and that began my real Dinar education.

    Having access to the elite “D.V. site,” I stopped going to D.R. The Dinar Rumors site eventually seemed to dwindle in size, and appeared to be replaced by a new site run by Med known as “D.S. – Dinar Speculators.” Like the smaller D.V. site, admission to the much larger D.S. site was by invitation, and it gradually grew in size to thousands of members.

    Initially, I was unaware that in addition to D.R., D.V., and D.S., there was also a rather lengthy, and growing list of similar Dinar forums on the net, all of which appeared to be disseminating the “imminent RV” information, albeit from many different and equally inaccurate sources. After a few months, my “Spidey Senses” kicked in, and it became obvious that virtually all of the so-called “intel” we had been receiving was 100% fabricated BS, and although our small site seemed to have access to the best of it, this didn’t alter the fact that everything date and rate related was absolutely useless. Gradually, after nearly a year of following it all very closely, still believing that there was at least a “remote chance” that something positive might occur with the Dinar, I began doing my own intensive research instead of reading only what was being bounced around the various Dinar forums.

    Sam I Am: How have your views on this investment changed since you first invested?

    Legolas: Initially I believed it to be an extreme longshot, but not absolutely impossible. The likelihood of a one thousand Dollar investment turning into one to three (or more) MILLION Dollars overnight seemed remote, but there appeared to be a fair number of rational people who believed that it was at least “possible” when I first jumped in more than three years ago. Following the so-called forum facts very closely, it became easy to believe that we might see an impressive r.o.i. I never believed the $3 plus nonsense that was being thrown around, but initially, at least, I thought something close to a 1:1 RV might be possible. BUT, and this was a very important but, that was before I began doing my own research into the financial realities in Iraq. I knew that they were a war-torn, essentially third-world country with rampant poverty, decimated infrastructure, and limited education, in addition to being one of the most corrupt countries in the world. That being said, it also appeared to me that their currency was artificially undervalued based on their potential resources.

    Unfortunately that was before I began studying the readily available financial reports from the CBI and the IMF which indicated that Iraq has an M2 of close to 60 TRILLION Dinars, and approximately 27 TRILLION Dinars in circulation, with the number increasing each of the past 5 years.

    Iraq currently has reserve currency of approximately $59 BILLION Dollars. Keep in mind that it takes 1,000 Billion to make 1 Trillion, and one can quickly see the significance of the numbers involved – yet most people refuse to understand or accept that significance.

    I could go on for many pages explaining the significance of those and many other important facts, but the simple truth is that in the event of even a $1 revaluation, each one of those Dinars becomes a Dollar – meaning that they would then have 27 TRILLION DOLLARS in circulation – or 81 Trillion if you subscribe to the $3 RV theory. The simple truth is that this is more money than exists in the entire world. Most people seem to have no concept of what this means, but to keep it simple, it just isn’t even the slightest bit possible under ANY circumstances. There is no scenario under which a $1 RV can be rationalized – EXCEPT after a re-denomination, or lop – and this is exactly what Shabibi has been describing in literally hundreds of articles over the past eight months or so, but very few Dinarians are willing to accept this extremely plausible, and very common scenario as reality. By removing the three zeros from the Dinar, they immediately reduce the M2 from 59 Trillion to 59 Billion, and can THEN justify a 1:1 RV, making the Dinar equivalent to a Dollar. There are many valid reasons for doing this, and a good explanation would consume several pages here. The truth is, it’s been explained many times, and done successfully in several countries, but most people don’t want to hear it.

    Sam I Am:  Could you share a bit about your experience with Breitling?

    Legolas:  He was a fellow member of Medic's original DV site 3 years ago, and often brought information to the site from his "supposedly reliable" sources in Dubai regarding the Dinar, and often spoke about the VND.  At one point approximately 2 years ago, he brought information stating that he had information indicating he was certain that the Dong was going to RV to 5-6 cents by the following weekend, and many people therefore rushed out and purchased the VND.  Obviously that RV has never occurred, and in fact the Dong has DE-valued since that time. 

    Since then, in more recent times, he has started his own radio show, and I've been told that he has been encouraging people to purchase smaller denominations of the IQD which are being sold at hugely inflated prices.  Supposedly, this is to negate the risk of the larger denominations being called in quickly, when the smaller could be held and exchanged later at a higher rate.  I personally believe that to be absolute nonsense.  I have no knowledge of his motivations, but common sense would indicate that he is not doing two radio shows daily out of the goodness of his heart.  I suspect that there has to be profit involved.  I personally have no interest in anything he has to say, so I can't comment further than that.

    (NOTE: In April of 2010 Breitling discussed the impending dong RV here, and then held a chat session in June of 2010 where he referred to the dong buying frenzy which he claims that he and Roger "Dinar Daddy" Dorman caused.)

    Sam I Am: What do you think motivates these people to post what they do?

    Legolas: Two words….Money and/or Ego. Anyone who believes they do it out of the goodness of their hearts is completely delusional. Some of these people have been doing it for years. Others may frequently return with new names after wearing out another one. A person could reasonably believe that these people could be wrong once or twice, and that it might be coincidence. But after 5, 10 or in many cases, hundreds of times, it simply has to be intentional. The list is long, and NONE of them have ever been right.

    The dealers and site owners have made a great deal of money selling and promoting Dinars, with no apparent end in sight. Several of them have admitted to selling billions each month, and the prices have increased rather dramatically over the past year or so. The price spread has increased from roughly 20% to 40% or more, with no concurrent increase in the value of the Dinar.

    Sam I Am: Why do you think these gurus have been able to get away with what they're doing up until now?

    Legolas: Probably because they’re telling people exactly what they desperately want to hear, and because they’ve been so successful in creating new demand for their services. There appears to be a huge turnover in people on the forums, with new ones entering the scene every day.
    Some of the pumpers come across as very knowledgeable and believable if the reader isn’t aware of the fact that they’ve been saying the same things for years. I suspect that as they discover that the gurus/pumpers have been lying, a majority of the site members leave, returning only occasionally, if at all to see if anything has changed. From the questions and comments seen most often, it’s apparent that most of the posters are new and inexperienced.
    Those who have been around for a while are either there in an effort to inform the newbies, or they’re so brainwashed that their minds will never be changed. They’ll always believe that the RV is imminent, no matter what the evidence demonstrates.

    Sam I Am: Where do you think we'll be with the dinar a year from now?

    Legolas: Unfortunately, I suspect that we’ll be exactly where we are today, just as we have been for the past several years. If I’ve learned anything over the past three years, it’s that Iraq does nothing quickly. Whether the ultimate result is RV, RD, or no change at all, it’s clear that they’re in no hurry to make a decision regarding the Dinar, as well as a multitude of other important matters pertaining to the operation of their country. I could go on for hours regarding the problems of sectarianism, but that’s a topic for another day.

    Sam I Am: What advice do you have for people thinking about investing in the dinar?

    Legolas: Despite my complete reversal of opinion over the past 12 months or so, I’ve never told people that they shouldn’t buy Dinar, and I’ve never encouraged anyone to sell. For most people, a small Dinar purchase should be relatively painless, provided that they accept and can afford a potential loss of 40-60% or more of their investment without causing great harm to their financial situation. Personally, I’ve now sold more than 50% of my initial Dinar holdings, and expect to sell more in the near future. My own carefully considered opinion is that the CBI will eventually RD, (removing the three zeros) and I’m “hopeful” that at the same time, or shortly thereafter, they increase the value sufficiently that those of us who purchased at a good price might still make a small profit. It’s important that you do the math to determine just how large that increase would have to be in order to cover the exchange spread on both purchase and sale.

    Sam I Am: Do you expect any arrests or class action lawsuits?

    Legolas: That’s a difficult question to answer. I have little doubt that there “should” be, because I believe that laws have been broken, people have been intentionally injured, some very seriously, and the perpetrators have profited – all of which are requirements for a successful criminal prosecution and/or civil action for recovery of damages.

    Unfortunately, there are many complexities involved in this situation. First and foremost is the matter of jurisdiction, and the fact that so many individuals and geographical locations are involved. Without a doubt, the offenders are from many different States, Cities, Counties, and even Countries. Virtually any prosecutor in the country could conceivably conduct an investigation and file charges, just as any attorney could file a lawsuit. But the costs involved in preparing a case, presenting evidence, witnesses, victims, etc. would be huge. Because of the immense scope of this situation, the numbers of defendants and victims could conceivably be larger than any case in the history of this country. Off the top of my head, I can’t think of any which might be larger. Transportation costs alone would be phenomenally expensive.

    Identifying the defendants would be relatively simple, although time consuming. I suspect that identifying victims would be easy as well, although some might be hesitant to admit that they were deceived, depending on the amount of their losses.

    Gathering evidence would be relatively simple, as virtually every post is logged on a server “somewhere,” if not on the individual computers of thousands of the investors. IP addresses, phone records, e-mails, instant messages, chats, bank records, etc. are readily available by subpoena. But it would be a huge and very expensive undertaking, and I have to wonder whether any jurisdiction, or even the Federal Government would make a decision to do it.

    On the civil side of it, attorneys are looking for deep pockets from which to recover damages. While some of the dealers and websites have undoubtedly made a great deal of money, it very likely would not be an amount sufficient to cover the Dollar value of the losses, or enough to ensure profit to the attorneys involved.

    Finally, there is the sympathy factor. Is any jury likely to feel sorry for greedy investors who were sufficiently gullible to believe that a $1,000 investment could magically turn into a Million Dollars or more overnight, as many undoubtedly believed? Was there sufficient evidence readily available which should have shown an individual of reasonable sensibilities that they should have known better than to believe it?

    Personally, I think that many of these individuals should be prosecuted, convicted and put away, never again to see the light of day. But will it happen? We can only hope.

    Sam I Am: Agreed.  Thanks so much for giving us your perspective, Legolas.  I think you've given the dinar world a lot to think about.  

    Wednesday, December 28, 2011

    Frankly Reeking

    One of the most popular dinar gurus is a man named Frank Villa (aka Frank26), a descendant of Mexican legend Pancho Villa according to his MySpace page.  Frank is a master of weaving dinar "intel" and rumours with bible lessons and prayer to maintain a loyal following of Christian dinarians.  This is an excerpt from one of his conference calls back on July 1, 2011.

    Greetings Family,
    I told you that we would reunite Tuesday night on our CC………but I also told you that if something of significance should arise we would share it with you. I have two things to tell you ……..the first one I will have TINK type for you. The second one will be presented to you via a link where you will click on to listen and hear a conversation between me and one of our Team members. Let’s start.
    You are to take this to the Lord in prayer Family for I have done my best to avoid any exaggeration or contamination of this info. There is a gentleman that is in Iraq……….he called his minister on the mainland today around 3pm EST. There was excitement in his voice as he reported that ……”they are doing it now!” Family………They are releasing the new currency to the Iraqi citizens. They have told the citizens that the US dollar must be removed out of circulation immediately. They went on to say that old currency would have a window of time to be traded in for the new currency. IMO Family………this is a mandate for the Iraqi citizens as far as a timeframe……….not for us when we exchange. They are telling the citizens that they want everyone to use the IQD from now on. They told the Iraqi citizens today that the new currency will have an increased value to it………but they did not give a rate yet to the citizens. There is more to this source of info and I am scheduled to learn more tonight.
    Secondly………I received a phone call from one of our Team members who was assigned a specific role. When he called in it took me a second to realize who he was. I turned on my recorder which I only use when gathering intel from my Teams so that I can go back and double check what was said. Notes have failed me in the past ……….never again. When I was done with the conversation I realized the value of this info and decided to share it with you. We recorded it on to a freeconferencing format for you to listen. I suppose I could break it down for you ……..but it speaks for itself. Below is a post from our last thread from MarinemomCA that can be bonded with what you are about to hear.
    by MarinemomCA » Fri Jul 01, 2011 6:22 pm • [Post 622]
    I was to Wells Fargo bank yesterday. I met with a personal banker. We spoke of the dinar and dong and she just smiled. I asked questions and didn’t get to many firm answers. Until I said if I came in with my foreign currency and went to the teller next week would I be able to cash it in. She said Yes.
    So, I am ready for next week!!! How about the rest of you???? Show me the RV
    I hope you enjoy what I have shared with you today. Btw……..sorry if it straightened out your curls MARY COOPER……..LOL. Many of your calls today where concerned that the DFI was renewed for another year under our protection. Why would you be concerned about something so positive in the direction of our investment? You see…….as they walk out of CH7 from the UNSC they walk into CH8 of the IMF. As I told you last night……no animal caged for almost 30 years is going to sit in the same cage once you set him free and open the door. That’s what happened today on July 1st, 2011. So as Iraq’s infrastructure explodes in the next 6 months …….. so will the IQD. Many nations who seek restitution or claims of ancient debt from Iraq…..will never see a single dinar in payment. We protect Iraq’s oil and money in American accounts and further protect them with the DFI renewal. Let me ask you something gentlemen of KTFA ………… if Iraq’s money and oil could be compared to our soul mates ……….. may I propose this question? “Who would dare touch our wives!!!?” So with that in mind Family ………… do not fear the DFI because ……… ”WE GOT THEM!!!”  S41755k………you know where my phone numbers are at ………please call me. I understand about the extra.  It’s been awhile since I posted and said that I leave you with My Christian love and Aloha.

    It's likely that no commentary is necessary with this, but I'm going to comment anyway.  First of all, let's remember that it was Frank who conducted a countdown to RV in 2010 (T minus X days or less), convinced that it had to happen by the end of the year.  When it didn't happen, rather than just admit that he doesn't know what he's talking about Frank blamed the Iraqis.  Then in May he brought on a guy named George Robinson who claimed that God revealed to him that the RV would be from $3.87-$3.89 and would happen in late May-June 10, 2011.  Well of course the rate is still 1170 IQD to 1 USD some seven months later.  Then in this chat he starts feeding us the BS story about Iraq issuing the new lower denoms to the Iraqi people, along with the proclamation that they want the USD out of Iraq immediately!  Interesting that here we are a half a year later, and nobody has seen these bills yet.  And the last time I checked there's plenty of USD in Iraq.  And I don't know about their infrastructure, but the IQD has hardly "exploded".

    In the summer of 2010 Frank was telling us that the GOI was secretly formed.  It wasn't until late October that the prime minister issue was resolved, and here we are more than a year later and we still don't have all of the positions filled.  

    On August 20, 2011 Frank told his listeners:

    May I share some intel with you today?………….. Shabibi is also
    saying that the new currency is going out, the LDs. Guess what family? Some
    contacts told me that they saw them with their own eyes. If Shabibi said this,
    and some contacts told us they saw them, then you better start to get ready.
    Pray for this I just told you family, and just be patient for just a little

    Yeah, they've seen them but none of us have.  Not one stinkin' photo in the two years they've been telling us about them.  Now for the pièce de résistance.  In this brief audio Frank has one of his team members share a bank story (along with the obligatory "grin" or "smile" reference) saying that cash-in would commence on the east coast after 5 PM July 1, 2011 at Chase bank.;0OTc3NDYwNjg=0

    In February of 2011 Frank said:

    CNN says this morning that the IQD is about to RV. ARE YOU KIDDING ME?!!! Nope. CAN I HAVE THE LINK FRANK? Nope. Join me tomorrow as we show you 3,500 contracts that have just been paid by the GOI and we will explain this paragraph.

    No link was ever provided to support his statement.

    This is what you get from Frank Villa.  You get crap intel.  You get silly made up stories about conversations between various parties involved in the RV.  You get absurd analysis of news articles and official documents.  You get bible lessons.  You hear admonitions to be good stewards of the windfall from this "blessing".  You listen to annoying riddles and personal anecdotes that have no relevance to the dinar.  You get to hear Delta (his Arabic translator) tell you that when Shabibi talks about deleting the zeros, reducing the money supply, and raising the value to $.86 - all of which perfectly describe a lop - that it's not a lop.  You get to listen to Frank's creepy sermons, singing, and references to the "family".  Frank's background is in marketing and the restaurant business.  He has no qualifications that I know of when it comes to currency or investment analysis.  I have never heard Frank offer any explanation of how Iraq would RV to his rate of $3.86.  It's all based on his understanding (or lack thereof) of statements coming out of Iraq.  For the life of me I don't understand why people flock to him by the thousands, hanging on to his every word, but they do.  I guess there's something in his delivery that gives people a good feeling about being a part of this "blessing".  But sooner or later common sense has to trump feelings.  Sooner or later people need to wake up and recognize that a man can only be wrong so many times before forfeiting his credibility.

    We're working on obtaining additional info on Frank, and hope to have more to share in the next few weeks so stay tuned.  In the meantime take a look at the links below.  They'll give you a glimpse into the world of Frank.

    Frank26 - Frank's profile on IIF saying he was banned in December of 2008 for lies

    Frank chat April 13, 2010 - Frank says "For some reason many of you are allowing the pain of the lifting of 000’s to dominate you. This is not about a LOP!!! Okay….okay……..let me ask you a question. If they are going to lift the 000’s from your $25,000 currency note how are they going to do that to a 50.00 IQD? Silly rabbit."  If they lop, the three zeros will be lifted from the current value of $.00086 to make the new value $.86.  All bills will be replaced with new bills representing the new value, silly douchebag.  Frank ends the post with an "RV in two days" rumour.

    Frank call 12/9/2010 - "Frank says in April he applied for a line of Credit and now they are telling us we are going to get it in a couple of weeks... the banks know whats coming...."  I wonder what those banks are thinking now?

    Frank post 1/10/11 - "For the very last time ………Iraq cannot LOP because the math behind it is impossible to even perform a LOP. Inflation must be tremendously high in order to adopt a LOP. Iraq’s is 3% ……….where is the logic in ignoring that?"  Actually many countries wait until they have inflation under control to lop.  Wrong again, Frank.

    Monday, December 26, 2011

    A Very Merry Douchie

    Twas the night before Christmas, and all through the land ...
    Douchebags proclaimed "the RV is at hand!"

    If you thought these guys might take a break from pumping long enough to enjoy the holidays with their loved ones you were sadly mistaken.  It was flying fast and furious.  In case you haven't noticed, we're seeing buzzwords used on a regular basis from the pumpers.  The buzzword this week was "algorithm".  Wow!  Sounds really brainy, huh?  I remember grappling with the concept in college algebra, and now here I am years later being bombarded with the word again.  Here are a few examples:

    12-24 - Jonnywg   The algorithms are released and all 155 currencies will be released at the same time. The process is irreversible and it will run its course.

    12/24 - DinarWishes   We know that the UN voted and passed to reactivate sanctions on Iraq yesterday if everything they needed to do was not complete. Well, no sanctions were placed back on is looking like things are running its course and all things are moving in our favor for a great Chistmas!!! Things are at a point of no return and can't be stopped by anything other than a total electrical outage world wide. Let me explain the Algorithm.. It's a timed sequence of events... We are not exactly sure how long it will take to have it all come out but it will all come out at the same time. Nothing new at the banks as of yet and wont be till the algorithm is complete...I will say this "It Can't be stopped"!!!

    12/25 - Eagle Has Landed   The algorithm was set by several techs and put into motion in such a way that even the techs will not know the date! We should be giving more credit to the UST, IMF, BIS, and CBI - they actually do know what they are doing.  This has been one of the most sweetest and advanced chess matches of all time!

    Apparently though, Jonnywg went off script and used "logarithm" instead.

    12-24 -  Jonnywg   Well like you, I expected more last night. We verified the codes were entered and released and we just have to wait until the logarithm runs its course. UST was sent home for Christmas. What we expect and the timing programed may be 2 dufferent things, no one knows but it is released. I have nothing more to add as the job is done.  We will watch the bank screens today.

    So which is it?  An algorithm or a logarithm?  No matter.  It's all BS anyway.  So this week's Christmas Douchie goes to the rithm trio of Eagle Has Landed, Dinar Wishes, and Jonnywg.  Congrats, douchebags.


    a set of rules for solving a problem in a finite number of steps, as for finding the greatest common divisor.


    the exponent of the power to which a base number must be raised to equal a given number; log: 2 is the logarithm of 100 to the base 10 (2 = log 10  100).

    Thursday, December 22, 2011

    An Interview with Enoch8

    I was privileged last week to conduct an interview with one of the good guys offering analysis on the IQD.  I may not agree with everything he says, but I respect his views and his knowledge of the economics (wasn't about to try to debate him on that) and official documents and statements issued from Iraq.  I especially appreciate his focus on true intel, meaning verifiable information rather than rumours or hearsay.  

    Sam I Am: Thanks so much for your time.  You have been in the dinar community for several years and have earned a reputation as one of the best analysts of the economic aspects of the IQD.  Tell us about your background in economics.

    Enoch8: No formal degree in economics, but aced Econ 101 with a 4.0 grade average.
    Enoch8: I have been a licensed contractor, a small time builder and developer in Arizona for most of my career, and come from a family of contractors, so well versed in business.
    Enoch8: I have been in leadership roles as Arizona Area Coordinator in Public Information, to a very large non profit organization, (over 2 million members), holding numerous offices, and have worked with Intelligence and Research Teams on very large political groups, as a political activist.
    Enoch8: I have served the Arizona Court System as an instructor, to a College Course for the Mohave County Court System, in my capacity as Arizona Area Coordinator for Public Information, Area Treatment Facilities and Area Correction Facilities Coordinator, leading to be invited by the Mohave Co Courts to instruct a class for their required courses as officers of the courts.
    Enoch8: This was a volunteer position, not to be mistaken with a professional post.

    Sam I Am: Have you ever made any money from a dinar related business or website?

    Enoch8: No
    Enoch8: Friends have paid me a small sum, to get dinar for them, but it was to cover expenses like gas, to pick it up, personally.

    Sam I Am: And how did you come to invest in dinar?

    Enoch8: I first heard about Dinar, listening to a radio talk show in April 2004, driving home from a weekend long Area Assembly, doing some of that volunteer work.
    Enoch8: The show was called the "Collector's Coach" hosted by Jack DeAngelis.
    Enoch8: I called into his show and got some dinar, then started making contacts on the internet and Ebay to get more Dinar.
    Enoch8: He and I became great friends.
    Enoch8: I drove to his studio when he was still in Costa Mesa and visited him at that studio.
    Enoch8: Interesting man, for sure.

    Sam I Am: How did you get started with dinar forums?

    Enoch8: We have a neighbor who is a VP at Chase, who was sending me some emails, that her friends at the bank were getting excited about the news in Iraq.
    Enoch8: One of our other friends who we introduced to Dinar, was calling me regularly, to tell me, he had been hearing a revaluation for over 1 Dollar was imminent, all through 2008, as the values were indeed increasing, that year.
    Enoch8: So we signed up on 2 different forums and started reading posts and frequenting chats, etc.

    Sam I Am: What is your opinion about the information being shared in these forums?

    Enoch8: I have of course, always enjoyed the positive attitude in most all the forums.... and one cannot help but admire the energy.
    Enoch8: As for the information, it seemed like there was always a promise of what seemed to me, to always be, RV in the next  few days and at a rate, that seemed wildly beyond my expectations.
    Enoch8: Not sure that answers your question....

    Sam I Am: that's fine
    Sam I Am: In your opinion what is the most that Iraq could support right now with a straight up RV?

    Enoch8: OK..... it is a tricky question and might depend on some factors.
    Enoch8: They can support whatever Exchange Rate they want. But that is not the issue.
    Enoch8: The real issue and question should be, "How much buying power with the currency liability can Iraq support?"
    Enoch8: Do they dedollarize? Yes? No?
    Enoch8: How quickly can they institute a viable Primary Bond Market and how much real demand is there in the Secondary Markets?
    Enoch8: These are critical to drawing down the circulation, in a manner of simplicity.
    Enoch8: But it is not all that simple.
    Enoch8: As to an exchange rate..... I have always held, that the Ministry of Planning did a Feasibility Study and literally told us their ideal Exchange Rates projected.
    Enoch8: That was $1.13
    Enoch8: Want more?

    Sam I Am: sure

    Enoch8: OK..... Al Saleh, one of the Deputy Governors of CBI, recently projected the possibility , in an example, he reported to the press, that they were considering $1.30 as an exchange Rate, in part of the CBI Plan.
    Enoch8: Since, they have also told us, it would be as simple as a 1000 to 1 Redenomination, which would at today's rate would be $.86.
    Enoch8: I think he was using that as an example.
    Enoch8: My research added to and supported by other fantastic researchers, lead me to believe, that about $1.00 is very close to real feasibility, because Iraq, unlike Kuwait, for example, plans on becoming a stronger entity as an Emerging Market Economy, to exporting non oil goods.
    Enoch8: That means they will need a lower Exchange Rate, to compete with other such exporters, than the larger rates of total oil export countries, like Kuwait.

    Sam I Am: What would their money supply total need to be in order to achieve that?

    Enoch8: It depends on whether or not they are increasing the value or just the exchange rate.
    Enoch8: There is a huge difference, most of us either are not aware of, or just refuse to discuss.

    Sam I Am: Are you saying it depends on whether they RV or lop?

    Enoch8: OK.... that is a simple way to put it, so I want to be more specific to this as to understanding the difference.
    Enoch8: How can I put this simply?
    Enoch8: OK..... Increasing the exchange rate, also increases the value, as long as they do not demonetize the old currency, as is typically the case with a Redenomination as opposed to a simple change or increase in the rate of exchange.
    Enoch8: By increasing the value, that means, the value of the entire money stock in print, increases.
    Enoch8: In most redenominations, that is simply not the case.
    Enoch8: Example:
    Enoch8: Let us say, there are 30 trillion IQD in existence.
    Enoch8: As stated by CBI.
    Enoch8: At today's rate, that has a value, (Buying Power) or purchase power parity, of about $26 Billion US Dollars.
    Enoch8: In a straight up Redenomination of 1000 to 1, the large base is demonetized to create only 1/1000th of the size of the circulation at 1000 times the exchange rate, which is still only valued at the same $26 Billion US.
    Enoch8: So..... back to your question....
    Enoch8: The value of the Money Supply, could be increased to as much as $30 Trillion US Dollars and that would get us to $1.00 to 1 IQD.
    Enoch8: As we just discussed, the value at present is only $26 Billion..... so to be $1.00 in Revaluation, the supply would have to be valued at $30 Trillion, unless they remove a lot from circulation.... which creates a quandary.
    Enoch8: What is removed..... STILL IN EFFECT,MUST BE COVERED by something of equitable value, before it can be removed from circulation, or it is not a revaluation but is merely a redenomination.
    Enoch8: That means in a nut shell.... for us to be paid real money for our Dinar, it MUST Be COVERED in REAL VALUE or Consideration.
    Enoch8: (Not to be confused with CBI paying for it with US Dollars or other money.)
    Enoch8: They simply do not have it and it does not work that way.
    Enoch8: But it still MUST BE COVERED with some form of consideration.
    Enoch8: That is typically done with Bonds and Bills, etc. which removes the liability of circulation, but in fact converts non liquid asset into real tangible equity and liquidity.
    Enoch8: This is where it gets complicated.
    Enoch8: So I stop here for now.

    Sam I Am: Okay
    Sam I Am: So in your opinion what's the likelihood of an RV or an RD or a hybrid?
    Sam I Am: 1/3 for each?

    Enoch8: No, not equal chances at all.
    Enoch8: CBI has submitted their proposal to GOI and they have been working on that in conjunction with MOP and Ministry of Finance, since about 2005, when CBI was charged by GOI to draft a plan.
    Enoch8: That was submitted to Counsel of Ministers earlier this year, 2011 and was approved in about May, by the Ministers.
    Enoch8: At that point it was stated it went to Parliament.
    Enoch8: Now, here is something of interest as to why that is.
    Enoch8: Apparently, in the proposal, there must be some form of GOI approval, my guess is to create a GOI Bonds program, beyond the authorization of CBI.
    Enoch8: That tells me, it is likely, they intend to increase liquidity and the actual overall value of the money supply, which is good news for us.
    Enoch8: This is supported by additional information, that in fact, there has been also a plan in the works since art least 2005, to pattern after Japan post WWII Gov. Bonds and Securities Markets.
    Enoch8: That was reported earlier this year and last year, with some clear definitions and is also supported by Bank of International Settlements documents, as to how liquidity is raised by the Emerging Market Economies of the world, in real terms, with real examples.
    Enoch8: I sent you those links.
    Enoch8: They are pdf format

    Sam I Am: right
    Sam I Am: Do you believe that new, lower denom IQD were printed in 2003 and have been stored for eight years awaiting the RV?

    Enoch8: No
    Enoch8: The original printing was the US State Dept. involved... and did not have the since required 3 languages on them.
    Enoch8: So they could not have been, or they would have 3 languages on the large ones as well.

    Sam I Am: I've noticed that most of what you say can be backed by documents or statements coming from Iraq that are verifiable.  What do you think about "intel"?

    Enoch8: Verification of documents and cross referencing even articles and news reports with facts, IS Intel.
    Enoch8: Unverified recon, is typically 80% disinformation or even intentionally planted misdirection, and is worthless, until it is cross referenced, researched and verified.
    Enoch8: Most sources are subject to be fed false rumor as intel, much as the enemy on the battlefield plants misdirection and false data in troop movement and strength.
    Enoch8: This is also true in real life, that most so called intel is mere conjecture at best.

    Sam I Am: So a lot of the so called intel that we're hearing is disinformation coming from higher up?

    Enoch8: In fact..... the point of origin of intel, as it goes..... the higher the sources.... the greater the likelihood of false intel or even high society gossip, is inevitable.

    Sam I Am: Do you consider yourself a religious person?

    Enoch8: Spiritual..... not a bit religious...... at least not on purpose.

    Sam I Am: Do you believe that some people use religion to pump the dinar?

    Enoch8: Well..... maybe not so much intentionally, but I would caution, that religion has been cover as a cloak to malicious intent, more often than we would like to believe.
    Enoch8: Jones Town is a great example.... of people who were genuinely zealous about their faith.

    Sam I Am: okay
    Sam I Am: One last question ... Look into your crystal ball and tell us where we will be with this investment a year from now

    Enoch8: 2 Parts..... 2 viable outcomes.
    Enoch8: CBI gets the vote and we get a Redenomination, Jan. 1 2012.... or shortly thereafter..... with some form of increase in value of the circulation, with it possible we are allowed as high as a 1 to 1 redemption before it is demonetized, maybe only a 10 to1 or 100 to 1 allowance, at about $1.00 or thereabout.....
    Enoch8: OR-
    Enoch8: They do not get approval of this plan and CBI is forced to increase the value in small amounts throughout 2012 and they do it. Jan 2013.
    Enoch8: I doubt seriously if they do this mid year for accounting purposes.
    Enoch8: 95% or more of all researched countries who do a Redenomination, do so in the 1st 2 years of a new administration and also do so on about Jan 1st.
    Enoch8: One side note, if you do not mind.....

    Sam I Am: ok

    Enoch8: The higher the new rate..... the greater the real likelihood of a lop. That is a fact.
    Enoch8: The other option is so bad I do not want to talk about it.... because the only way we see over $3.00 is if we also see a total free fall of the US Dollar.

    Sam I Am: So the predictions of a $3 - $8 RV?

    Enoch8: No way, unless economic doomsday is tomorrow.

    Sam I Am: okay, thanks again for your time and your take on the dinar

    Enoch8: Any time, my friend.

    Sam I Am: and you are definitely NOT a douchebag!

    Enoch8: (whew)

    Sam I Am: lol

    Enoch8: Thank God! LMAO

    Wednesday, December 21, 2011

    "Iraq Needs the RV"

    Have you ever heard anybody say that Iraq needs the RV to do this or that?  Or maybe you've heard them say that the rate has to be at a certain value in order for them to meet their budget or fulfill some other obligation?  Behind such statements lies a complete lack of comprehension for what currency is, and how it is valued.

    For example, Iraq has a problem with security.  Bombs still go off far too frequently to put foreign investors at ease about investing in Iraq.  When you mention the lack of adequate security to some people you get a response like "well that's why they need the RV .... to fund better security!"  People who say things like this fail to understand that currency isn't valued according to what a country needs.  Currency is valued according to what the country's condition is.  If you were a million dollars in debt and you had a house to sell with a market value of $200,000 would you put it on the market for $1 million because that's what you need to pay off your debts?  Of course not.  The market is the market, regardless of your needs.  It's the same with currency.  If there's a lack of security the currency will reflect that.  You don't change the value of the currency to fix the problem.  You fix the problem to change the value of the currency.

    Continuing with the real estate analogy, if you had a house appraised at $100,000 in need of repair in a neighborhood where comparable houses in good repair were selling for $130,000 would you go ahead and list the house for $130,000 because that's what it will be worth when the repairs are done?  No, you would either do the repairs first and then price it at $130,000 or you would list it at $100,000 and let the new owner take care of the repairs.  Well, Iraq is in need of repair.  Until those improvements are done the value is lowered just like that house, and their currency will reflect that lower value.

    Another example is Iraq's budget.  Some people claim that the new value of the IQD needs to be a certain amount in order to meet their budget.  Again, the market is the market folks.  If Iraq can't support $3 it doesn't matter what their budgetary needs are.  Their currency will only be as valuable as current conditions warrant.  The country doesn't reflect the value of the currency.  That's ass backwards.  The currency represents the wealth of the country.

    Some people say that Iraq can support a high RV because they have the second largest oil reserves on the planet, but presently Iraq's infrastructure only allows them to deliver about 2.5 million barrels a day.  So it doesn't really matter how much oil they have if they don't have the ability to boost production substantially beyond where it is now.  It's like people who are stranded at sea and die of thirst.  Even though they're surrounded by water they can't drink it because it's not potable.  "Water, water everywhere and not a drop to drink!"  Ever heard that?  It means that sea water does you no good if you don't have the ability to convert it into drinkable water.  It's the same thing with oil reserves.  Iraq's oil reserves could be a trillion barrels and it would still do their currency virtually no good without a better infrastructure.  And developing that infrastructure takes time.  We also have to take into consideration that Iraq is a member of OPEC, and therefore restricted by more than just the limitations of their infrastructure.  And even if Iraq could double their production overnight, it probably wouldn't improve their bottom line too much as the price of oil would certainly drop as a result.  It's called supply and demand.
    A final example would be the Iraqi people themselves.  Often people say "the Iraqi people need the RV.  They're suffering!"  Well in the first place, if their currency's exchange rate were to change overnight from 1170 to the dollar to .33 to the dollar ($3 value) there would be little immediate impact on the Iraqi people.  Think about it.  Before the sanctions were imposed during Desert Storm Iraq's currency was worth up to $3, and yet most of their people at that time weren't wealthy.  So restoring it to that value wouldn't make them wealthy now.  The impact would mostly be seen in imports.  After all, that's what an exchange rate is.  It's the rate of exchange between the currencies of two countries, not the rate of exchange between people in the same country using the same currency.  What will help the Iraqi people the most is seeing progress within their government and infrastructure.  Reducing corruption, improving security, developing their infrastructure .... in general transforming their country from the hellhole it is now into one with more tolerable conditions.

    Raising the value of their currency will help, but that doesn't have to be done via a straight up 1000+ to 1 RV.  Yes, Iraq has stated their intention to dedollarize the country, and they would need to raise the value to over $1 to accomplish that.  But there are a number of approaches that they could use when they redeonominate.  They could continue to raise the value via incremental revaluations of 50% or more until they reach a penny and then move the decimal over two spaces, they could raise the exchange rate to 1000 to 1 and then lop off three zeros and watch the dinar climb back up toward $3, or they could raise the value to $.00333 and then move the decimal three spaces to the right, giving them a new value of $3.33.  All of those scenarios would give them a more valuable currency without violating most of the known laws of economics (and common sense).

    Will Iraq revalue their currency?  My guess is that they probably will sometime in 2012.  Most agree that it is currently undervalued.  The question isn't one of whether or not the value will go up, but of how they will do it and whether or not investors will realize any profits when they do.  If and when they do it will only be to a degree that they can justify with factors such as GDP, money supply, and current conditions in their country.  It will not be driven by any pressing "needs" other than those that have already been laid out, which are controlling inflation, dedollarization, and easing cash transactions.

    Monday, December 19, 2011

    The Jack Lee Smiley Case

    I can't believe that I'm just now finding out about this, but here's another case of a dinar dealer being arrested for fraud.

    July 1, 2009

    Idaho seizes Iraqi dinars in investment scheme case

    The state of Idaho has seized about $1 million worth of Iraqi dinars purchased in a Coeur d’Alene man’s investment scheme.
    Jack Lee Smiley purportedly promised to turn a $1,000 investment into a $1 million windfall for investors who’d give him money to buy up Iraqi dinars. He told investors the dinars would increase in value when a new currency – backed by the United States, England and Israel and tied to oil contracts – was issued in late 2007, court records said.
    Smiley ran the promotion from 2004 until April 2007, despite a 2005 cease-and-desist order issued by the Idaho Department of Finance. About 130 investors gave Smiley a total of approximately $1 million to buy dinars, according to department records. About half of the investors were from Idaho.
    Smiley was jailed in October 2008, for refusing to comply with a court order to turn over the dinars. Jim Burns, investigations chief with the Department of Finance’s Securities Bureau, wouldn’t say Tuesday how or where the money was recovered. The Secret Service helped verify the currency’s authenticity and count the 1.2 billion dinars.
    Earlier court reports indicate that a witness saw “a great many dinars in the trunk of Smiley’s car.” His van has been in storage while Smiley was in jail.
    On Thursday, Smiley will be released from jail, because the dinars are now in the state’s possession.
    Five investors attended a Tuesday hearing on Smiley’s release in 1st District Judge John Mitchell’s courtroom, but they declined to comment.
    The dinars, worth less than a penny each, will be used to pay restitution.
    “While the Iraqi dinar has appreciated only a fraction of the amount promised by Mr. Smiley, recovery of the dinars should provide investors with an opportunity for substantial recovery,” Finance Department Director Gavin Gee said in a statement.
    Part of Smiley’s sales pitch was allegedly telling people that “Halliburton, large banks, corporations, politicians and the U.S. military” would reap millions from the new currency.
    He violated Idaho’s Commodities Act, which regulates foreign currency trading, by making false reports, the Finance Department said.
    The Department of Finance sued Smiley in 2007. Judge Mitchell found Smiley guilty of securities fraud last year and ordered him to pay restitution to the investors.

    Saturday, December 17, 2011

    The Douchie for Dec. 11-17

    Well another week has come and gone with no RV.  Another seven days of broken promises, bad intel, bogus rates and dates, and general douchebaggery from a whole host of dinar douchebags.  This week's choice was a tough one.  The stupidity coming from the gurus/pumpers pushed the BS meter to the breaking point.  They were all trying to outdo each other in order to come up with the best new pumper line.  It was like watching mice climb over each other to get to the piece of cheese.  "They have to RV to be sovereign!"  "They said they have the strongest currency so the RV is done!"  "US troops are gone so Maliki will have to relent and RV or he'll be killed!"

    It's all quite comical but to be quite honest, nothing really grabbed me this week.  That's how it goes sometimes.  I was thinking about giving it to jonnywg again for his missed RV prediction of last weekend, and for his claim that the new tax form was specifically created for dinarians cashing in after the upcoming RV.  But jonnywg has already won a couple of Douchies so I wanted to give others a chance.  Actually I could give him one just about every week and sleep well at night, but I don't want to look lazy.  So I went with my gut and decided to give it to a deserving recipient who has never won a Douchie.  (Kind of like Richard Burton never won an Oscar.  Such an injustice, right?)

    This week's Douchie goes tooo .... (drumroll) .... TerryK!  (Wild cheers & Applause)  Congratulations Terry.  In one chat session you:
    • Claimed you were on the phone with a big shot
    • Stated that Chapter 7 was signed and would be announced tomorrow
    • Said that you have a source who worked for Blackwater but is now with Halliburton I presume ("starts with a H") who told you that he and 23 others are buying dinar like there's no tomorrow
    • Pumped your cookbook
    • Proclaimed yourself "a better person"
    • Announced that the RV is "here"
    • Said "TWO BEERS IN A HOT TUB WITH MY BROTHER AND LOOK AT ME" (not sure I want to know what that was all about)
    • Plugged your "non-profit org"          
    In a way this is kind of a lifetime achievement award for TerryK.  His greatest work was probably long before I started this blog, but to my recollection this was the first week in the last three months where he did anything that was really Doucheworthy.  Nice going, douchebag! 

    [terryk] HELLO ALL
    [terryk] HOW ARE WE TONIGHT
    [amigomiwest] TK hello
    [asgower] amigomiwest Wouldn’t be surprised – they love the smoke signals
    [hlines] hey terry
    [Cessie]  TK Hi, I am excited and expectant and very hopeful of big things in next 2 days or so.
    [msjeta1] TK doing well how are you?
    [terryk] PHONE
    [terryk] HOLD
    [terryk] HOLD PLEASE
    [terryk] Iraq will be given the presidency of the Organization of Petroleum Exporting Countries, or OPEC, for 2012 at the group’s Wednesday meeting, Iraq’s Oil Minister said Tuesday. “Yes we are having discussions with members on OPEC’s presidency next year,” Iraqi oil minister Abdul Kareem Luaiby told Dow Jones Newswires. “We will get it,” he said. Iraq, a founder of the 12-member producers group, has not been bound to an OPEC production quota since the 1980s, when the country’s production fell sharply below its quota due to the 8-year Iraq-Iran war that ended in 1988. Then the country came under U.N trade sanctions for 13 years following its invasion of Kuwait in 1990, when it was banned from freely exporting oil. Asked if Iraq being outside OPEC’s quota system would affect it getting the OPEC presidency next year, he said: “No, the quota has nothing to do with us being OPEC president.” The OPEC presidency is a ceremonial post that rotates among the 12 members of the organization. It is chosen on the consequence of members’ alphabetical names and it is a one-year term. Iraq will take the presidency from Iran.
    [terryk] READ THAT
    [terryk] WHAT DO YOU THINK
    [terryk] I WILL SAY THIS
    [Agent 007]  TerryK  that is good stuff
    [terryk] ANOTHER CALL
    [terryk] HOLD ON
    [terryk] IT’S GOOD
    [Dee1031] tk I thought the rv was suppose to come before Chap 7
    [terryk] IT IS DEE
    [terryk] ANOTHER CALL
    [terryk] OK OFF ANOTHER CALL
    [Agent 007]    whew
    [cravin4rv]    .. is he rolling in dough!
    [terryk] IT’S SCARCE
    [terryk] BUT THEY ARE BUYING
    [terryk] THEY DON’T CARE
    [terryk] NOT ANYMORE
    [terryk] BUT IT STARTS WITH A H
    [terryk] HEY I DID NOT SAY THAT
    [terryk] McDONALDS
    [terryk] FUN HOUSE
    [Ks_dad] Moving up from the dollar menu to the meal deal!!!!!
    [terryk] THERE YOU GO
    [terryk] KS
    [Saltydog1]  TerryK  there u go again
    [terryk] WHAT SALTY DOG
    [Saltydog1] food
    [terryk] OH
    [terryk] YEA
    [terryk]  TerryK  SELLING COOKBOOKS
    [terryk] ON COOKBOOKS
    [terryk] WELL TO BE HONEST
    [Agent 007] boy, TK – the photos sure look like the book is a class act recipe book
    [msjeta1]  TerryK  I can’t wait to get mine
    [Agent 007] amadden said those that have been preordered are going out in the mail tomorrow
    [terryk] MAYBE TOMORROW
    [Ks_dad] wjbillr Hey man!
    [Agent 007] we are – been posting Connie’s recuperation
    [msjeta1]    been doing that all day already alot of us
    [terryk] THANKS
    [Agent 007] you’re welcome – we are all one family here
    [terryk] BUT YOU ALL DO SO WELL
    [terryk] I WATCH YOU ALOT
    [Agent 007] you could never do that
    [wjbillr] Ks_dad wassup buddy,terryk Agent 007 and all you great people
    [Agent 007] wjbillr
    [Ks_dad] wjbillr woohoo
    [Agent 007] TK well she may be correct in some ways
    [Ks_dad] TK it can be comical in here at tiems
    [msjeta1] TK we just want to give you respect when you come into the room
    [Agent 007] Amen
    [Agent 007] clear the decks, so to speak
    [alabamagal] TK i think they are sitting on the edge of their seats… waiting with great anticipation you got that one special on the nose call..
    [wjbillr] he has earned that
    [terryk] ANY TIME
    [terryk] WITH WHAT’S GOING ON
    [terryk] I’M NOT KIDDING
    [terryk] LIKE A THIEF
    [terryk] NO DON’T LOOK AT ME
    [terryk] I SAW A GUY THE OTHER DAY
    [terryk] AFTER ALL
    [Agent 007] yup
    [cravin4rv]    … well have some more brews and keep spilling the good stuff!!
    [terryk] TWO IS MY LIMIT
    [terryk] JUMBO SHRIMP
    [terryk] SO I SAID
    [terryk] WHAT DO YOU WANT
    [terryk] TO BE A BETTER PERSON
    [terryk] A CARING ONE
    [Agent 007] yes
    [terryk] WE GO TO
    [terryk] PRINT THE FLYER
    [terryk] WE HAVE ON THE SITE
    [terryk] TALK TO YOUR CHURCH
    [terryk] MEMBERS
    [terryk] WHAT A GIFT
    [wjbillr] good idea
    [terryk] Cookbook flyer:
    [terryk] 19.95 PLUS SHIPPING
    [terryk] FAMILY
    [terryk] PLEASE
    [terryk] WE HAVE 2000 COPIES IN
    [terryk] READY TO GO
    [terryk] JUST A THOUGHT
    [Agent 007] I can try – have never done anything with ebay – but will
    [Dee1031] gn
    [terryk] NIGHT DEE
    [terryk] OUCH
    [terryk] THANKS TINA
    [terryk] THAT SNEEK
    [terryk] IF YOU CAN REACH OUT
    [terryk] YOUR LOCAL VA
    [Agent 007] ok TK
    [terryk] OK I CAN SLEEP ANYWAY
    [Agent 007] you bet
    [terryk] THEY COME 24 TO A CASE
    [terryk] REACH OUT
    [terryk] TOUCH THE PEEPS
    [terryk] OK I’M DONE
    [terryk] GOD BLESS YOU ALL
    [terryk] AND NIGHT ALL
    [Agent 007] and God Bless you, too TK

    Friday, December 16, 2011

    The Strongest Currency in the Region

    Often we hear the gurus reminding us that Iraq has stated that they intend to have the most valuable currency in the region.  But is that really what they have said?  Let's look at this recent article from Al Arabiya.

    The dawn of the Iraqi Central Bank economic surprise announcement that the Deputy Governor Reserve Bank's foreign currency amounted to about sixty billion dollars, the highest on Iraq.

    This announcement was commonly denied or that the common problems in Iraq permanently, but encompassed the other surprise is that any currency dinar has become one of the strongest currencies in the region including the Gulf currency, according to contexts of monetary policy.
    Notice here that they said that the "dinar has become one of the strongest currencies in the region".  Well of course they're not one of the most valuable at $.00086, so what do they mean when they say that they have already become one of the strongest currencies? I think the answer is in the first paragraph. They have $60 billion USD in their reserves, which is two to three times the value of their currency, depending on whose money supply figures you go by.  Compare that to their neighbors in Saudi Arabia who have a money supply of $1.18 trillion and reserves of about $450 billion, or to Kuwait with a money supply of more than $90 billion but reserves of only $22 billion.  To the Iraqis it appears that "strongest" refers to the ability to back their currency with foreign reserves, rather than having the highest value from their exchange rate.  

    So the next time you hear some guru throwing out nonsense about Iraq RV'ing at or near the value of the Kuwaiti dinar, just remind them of this.  Iraq can claim the strongest currency in the region right now, "according to contexts of monetary policy".  They don't need to RV at all to accomplish that.