Thursday, January 5, 2012

An Interview with Scooter

I was recently fortunate enough to be granted a couple of hours with one of the most prominent and prolific dinar researchers out there.  He's been around for a couple of years and he goes by the name of Scooter.  As he points out in the interview he has never been paid for his research and doesn't sell anything.  He started sharing his research in an effort to combat the misinformation and "intel" that was misleading people about the dinar, often with disastrous results.   

  Sam I Am: I appreciate you taking the time to chat with me today.

  Scooter: Oh, you're very welcome
  Scooter: thank you for having me

  Sam I Am: Can you tell the readers a bit about your background?

  Scooter: Sure.
  Scooter: I was Born in Southern California.
  Scooter: The family then moved to the great northwest at an early age.
  Scooter: Northeastern Washington is a beautiful place to grow up.  It was a small town 80 miles north of Spokane in the northern rockies. 
  Scooter: It was particularly interesting being the wild and crazy kid that I was and
           your father was the Varsity football, wrestling, and Golf coach.
  Scooter: After high school, I moved to Phoenix and Went to College
  Scooter: Got my four year degree in 2.5 years
  Scooter: I knew if I didn't go blasting right through
  Scooter: I would never get it  -- they called me PRIMATE back then - don't ask...
  Scooter: Started my first professional position in software design
  Scooter: moved to Chicago and got recruited by a very large organization
  Scooter: to manage their software development teams throughout North America
  Scooter: It was at that time that I did two things that changed my life
  Scooter: One
  Scooter: Started playing the FOREX market
  Scooter: Two
  Scooter: became a partner in a small startup software company
  Scooter: The FOREX venture started out bad --- at least the first week
  Scooter: we'll get to that in just a second
  Scooter: but the software venture exploded worldwide
  Scooter: The package was sold in 90 countries and 13 languages
  Scooter: big hit!

  Sam I Am: impressive

  Scooter: We sold the business in 2001 but I was still playing FOREX.
  Scooter: again -- wait for that story because it gets good
  Scooter: Nevertheless, sold the software company and moved back to Phoenix
  Scooter: Chicago has incredible culture and people but the weather really stinks!
  Scooter: Now
  Scooter: back to the FOREX
  Scooter: I started FOREX in 2000
  Scooter: maybe 2001
  Scooter: anyhow, I went into the game and purchased Forex Made EZ.  Essentially, the product was
           supposed to do it all and provide indicators as to when you buy and sell.
  Scooter: In essence, I didn't have to think.
  Scooter: So, as a result the first week, being the impatient man that I am
  Scooter: I got DRILLED !!!   I lost about 10k that first week

  Sam I Am: ouch

  Scooter: My better half lynched me !!!
  Scooter: but I loved this market
  Scooter: it was like nothing I've ever experienced
  Scooter: As a result, I had to go to classes before I could ever start trading live again.
  Scooter: somewhat funny -- but I learned a very hard lesson that I still practice today
  Scooter: Essentially,
  Scooter: Never chase the market
  Scooter: always let the market come to you!
  Scooter: My instructor pretty much told me my problem wasn't that I made the wrong decision
  Scooter: it was more of a patience problem from being a MAN
  Scooter: haha
  Scooter: anyhow -- I loved this market and ever since i've been active on and off for the past decade
  Scooter: At this time, I currently live in Phoenix and just acquired another software company and it's on the precipice of exploding
  Scooter: so, I'm pretty excited
  Scooter: I purchased my first DiNAR in 2005
  Scooter: and my last batch in 2006
  Scooter: I was on a plane traveling from Phoenix to San Diego
  Scooter: and saw a full page spread in USA Today
  Scooter: and bought immediately after exiting the aircraft
  Scooter: I thought it would be a 8 - 10 year play
  Scooter: and thought it would open around $0.35
  Scooter: WOW!
  Scooter: That was one long sentence
  Scooter: LOL

  Sam I Am: that's okay
  Sam I Am: How did you get started on the dinar forums?

  Scooter: Ahhhh
  Scooter: The forums ---
  Scooter: Let's see, I think I joined one of the major forums in late 2009
  Scooter: I met a couple of folks and went to chat in hopes to learn a bit more about this investment.
  Scooter: At that time, I was hot and heavy in playing FOREX.  I was glued to analsys and research to learn about what's happening in the marketspace
  Scooter: I mainly was playing the majors -- rarely the exotics
  Scooter: but I quickly found out that the leaders in these forums
  Scooter: were stating information that was completely inaccurate but I stayed quietly on the sidelines

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

  Scooter: Since that time, the information and research has improved 100%
  Scooter: but I still think the community suffers from some basic problems
  Scooter: One
  Scooter: too much of the information is based on "INTEL"
  Scooter: and not on factual data coming from the organizations that do this type of work everyday
  Scooter: Just my opinion
  Scooter: at that time in early 2010
  Scooter: the information was being spewed out there and I knew for a fact that it was completely off base
  Scooter: and I also witnessed innocent people getting hurt
  Scooter: hurt badly too
  Scooter: They were overleveraging themselves to the point of losing their homes and looking at this investment as a lottery ticket
  Scooter: As a result, I engaged myself and started the massive reading binge
  Scooter: Started posting the information and the response was
  Scooter: well, it overwhelmed me and I was honored by everyone's appreciation

  Sam I Am: So Scooter research began as a way of keeping people grounded and getting them to go by factual information?

  Scooter: Haaah!  Yes.
  Scooter: I suppose so
  Scooter: I started doing organized chats
  Scooter: at several sites
  Scooter: not the kind where I came in and chatted with friends
  Scooter: but a thought out written chat
  Scooter: at that point, Scooter Research was "Branded" and had it's own identity

  Sam I Am: I see
  Sam I Am: Let's talk a little about the investment

  Scooter: one second
  Scooter: one last item

  Sam I Am: okay

  Scooter: thanks
  Scooter: NEVER in this venture have I received any fiduciary rewards or money or anything.
  Scooter: I always felt if I did receive cash, my credibility would be severely diminished.
  Scooter: I now have a blog
  Scooter: and now get some minor $$$$
  Scooter: from the ads -- but it's nominal at best

  Sam I Am: if it's like my blog it's very minor

  Scooter: I can buy my wife dinner a couple times a month
  Scooter: lol
  Scooter: Exactly
  Scooter: But I enjoy having it and it's my center where I post all my material
  Scooter: it's a hobby I guess
  Scooter: but

  Sam I Am: the URL?

  Scooter: oh
  Scooter: I'm allowed to do that

  Sam I Am: sure

  Scooter: Nevertheless, it's fun and I enjoy the research
  Scooter: it's just fun to me
  Scooter: I like the emerging market space and I think it's important today more than ever
  Scooter: particularly when we look at the current worldwide financial picture
  Scooter: I firmly believe that natural resources from sovereign nations
  Scooter: will be the next currency of the 21st century
  Scooter: at least, it will have a huge impact on the strength of the currency
  Scooter: so
  Scooter: I'm now researching over 42 Emerging Markets right now
  Scooter: learned a lot

  Sam I Am: I'm sure
  Sam I Am: now?

  Scooter: now, your question

  Sam I Am: What do you think the current money supply is in Iraq?

  Scooter: Haha
  Scooter: ok
  Scooter: Well, once again, I look at the facts
  Scooter: and I take that one step farther
  Scooter: for example, when the CBI post there bi weekly financial indicators
  Scooter: I like to verify this data with other organizations
  Scooter: Because data and statistics can be made to look many ways
  Scooter: depending on the audience
  Scooter: and in Iraq's case -- a double verification is always a good practice
  Scooter: anyhow
  Scooter: when taking a look at those numbers -- I try to verify with the IMF database or World Bank Database, etc..
  Scooter: etc..
  Scooter: does that make sense
  Scooter: I hope so
  Scooter: just a practice I try and do

  Sam I Am: yes

  Scooter: so back to circulation amount
  Scooter: and in Iraq, outside of banks right ?
  Scooter: ok

  Sam I Am: ok

  Scooter: As of December's report ---
  Scooter: the November's number are clearly showing 26.866 Trillion IQD outside of banks
  Scooter: shows m1 to be 57.997 Trillion
  Scooter: M2 67.160 Trillion
  Scooter: now
  Scooter: with that said
  Scooter: there's some variables that we need to look at
  Scooter: one, some of that could be in reserves of other countries
  Scooter: and those reserves will never see the shores of Iraq ever again.
  Scooter: that number is unknown right now
  Scooter: and nobody knows what that amount currently is
  Scooter: but
  Scooter: we do know that within the immediate area of baghdad
  Scooter: there's approximately 4 trillion in hard currency
  Scooter: Saleh just reported that one
  Scooter: with that said, and knowing Baghdad has approximately 6 - 8 million of the populace
  Scooter: we can start dissecting and making educated guesses
  Scooter: Now, the other unknown in this equation are two items
  Scooter: The $173 Billion USD sitting at US Treasury account that came from the DFI's Savings account
  Scooter: two
  Scooter: We don't know, how much $$$$$ is being sheltered from the partner countries
  Scooter: to be dedicated to Iraq when the structural changes go down
  Scooter: What do you think the circulation in Iraq is?
  Scooter: hahahah
  Scooter: sorry, I know., you're doing the questions ...
  Scooter: lol

  Sam I Am: My guess is 20 trillion

  Scooter: In Iraq?

  Sam I Am: Like I said, it's a guess

  Scooter: Correct
  Scooter: just like mine
  Scooter: I think it's in the 12 - 14 range
  Scooter: probably closer to 12
  Scooter: I figure outside countries will carry 8 trillion

  Scooter: independent investors is unknown and the speculation is all over the map.
  Scooter: like I said -- everything is a guess -- ha ha
  Scooter: I think the moves that are required to reduce the circulation of the larger notes have been occurring  over the last six months in country

  Sam I Am: Do you think there has been a significant reduction of IQD in circulation in Iraq?

  Scooter: Yes!
  Scooter: I think they will make the structural changes and we'll see a hybrid conversion
  Scooter: the larger notes will be sucked into the CBI and they will SOIL those notes immediately
  Scooter: the value is still the same -- i mean of the aggregate number ---

  Sam I Am: replaced by USD?

  Scooter: if the value of there reserves were 25 Billion before -- it will be valued at 25 billion when they convert
  Scooter: No
  Scooter: they need to to create immediate demand for IQD
  Scooter: they need to de dollarize their economy and fast

  Sam I Am: right
  Sam I Am: that's their stated goal

  Scooter: Their goal will be to make the IQD the standard throughout the country
  Scooter: and make it attractive to do business inside the country and to investors inside and outside the country.

  Sam I Am: okay, so you're saying the IQD will be sucked into the CBI upon the RV?

  Scooter: I think they are already reducing the 1000 series notes as we speak
  Scooter: but we won't have the details of their banking circulation for the year
  Scooter: until the third week of January
  Scooter: maybe fourth week
  Scooter: that's when some good juicy details about the exact make up the the circulation comes out
  Scooter: it will tell us how many 25k notes are in the private banks, government banks, and individuals hands
  Scooter: all the notes and coins
  Scooter: but they only provide that report once a year
  Scooter: So they will suck those notes in and deploy the CPI immediately
  Scooter: remember, they have already deploy almost 2 million of those smart cards

  Sam I Am: CPI?

  Scooter: those cards are like having 15 wallets or files on you
  Scooter: Consumer Price Index
  Scooter: They modified it in March of 2010 to reflect the lower denoms
  Scooter: they just haven't deployed it yet

  Sam I Am: ok

  Scooter: also, those Iraqi citizens will immediately need to open their first checking account
  Scooter: if they haven't already
  Scooter: they'll deploy the lower denoms and coins immediately
  Scooter: and suck in those larger notes
  Scooter: I don't think they'll be able to do this all at once
  Scooter: it's virtually impossible to do this in a short period of time
  Scooter: As a result, they will be encouraged in some way shape or form to convert that CASH into electronic form
  Scooter: Just my opinion

  Sam I Am: okay

  Scooter: one other item
  Scooter: they need to develop their Government Bond and Commercial Bond market space
  Scooter: That is very very critical

  Sam I Am: Yes, Enoch made reference to that

  Scooter: Yes, the government needs liquidity and that's what these bonds can provide
  Scooter: Those bonds will help pay for these critical projects over the long run
  Scooter: It appears they are leaning toward the Japanese model
  Scooter: but
  Scooter: that's another discussion

  Sam I Am: How does your view now differ from your original time frame and expectation of $.35?

  Scooter: Good question!!!,
  Scooter: when I first made my estimates,
  Scooter: I hadn't reviewed the 1000's pages of documents from multiple organizations
  Scooter: So my opinion has changed quite bit since that time.
  Scooter: Now, with that said
  Scooter: let me make the disclaimer
  Scooter: anything, and I mean anything, can occur in this investment
  Scooter: that includes nothing happening at all.
  Scooter: but when the founders of the plan developed the details, they had several strategic goals in mind
  Scooter: one
  Scooter: Significantly improve the lifestyle of every Iraqi citizen
  Scooter: move them from earning $2.00 a day per family  to
  Scooter: something significantly better with a currency that had a strong purchasing power
  Scooter: With that goal achieved, the citizens of Iraq, in theory, would be drawn to more market driven activities
  Scooter: We knew they had all the resources
  Scooter: but politics, the enemy, and several mistakes made throughout has slowed the process down considerably
  Scooter: second,
  Scooter: Iraq needed to be the poster child for western democracy throughout the middle east
  Scooter: as a result,
  Scooter: this RV was built around several financial Tranches
  Scooter: some of those haven't occurred but are waiting for the right moment
  Scooter: The idea was to plant several economic explosions in locations that will take off in their economy, invigorating the private sector and foreign investment
  Scooter: For example, agriculture
  Scooter: that was one of the targets
  Scooter: At one time, Agriculture was a far bigger contributor to their GDP than oil
  Scooter: it was close to 37%
  Scooter: Nevertheless,
  Scooter: this had an impact on my opinion as to the price point to open.
  Scooter: Saleh has said the real value of the IQD is around $1.30
  Scooter: the 2009 budget, as evidenced by the Tables of increases from their budget, came in at $1.17
  Scooter: 2010 -- $2.05
  Scooter: 2011 -- $1.27
  Scooter: Now that combines both the operational budgets and Investment budgets.
  Scooter: So to answer your question my friend
  Scooter: $0.35 ?
  Scooter: NO
  Scooter: I don't think so -- I think there's another plan that hasn't been seen or discussed in the forums
  Scooter: and they will be paying for this RV in some other way
  Scooter: Just my opinion

  Sam I Am: ok
  Sam I Am: and the time frame is .... whenever?

  Scooter: Haaaah!!!
  Scooter: Who knows
  Scooter: I can show you documents from the IMF
  Scooter: that indicated the structural changes were to occur at the same time as the parliamentary elections of 2010
  Scooter: Nobody knows -- but they are behind scheduled -- that is for certain.
  Scooter: it could be June 2013
  Scooter: when the Iraqi Banking reforms are scheduled for conclusion
  Scooter: nobody knows
  Scooter: but remember, the banking industry and governments are the BEST at misdirection
  Scooter: they will have you look to left and sneak through the back door and steal the cookie jar.

  Sam I Am: Okay, one last question

  Scooter: I have one more in me

  Sam I Am: What is your advice for dinar speculators and potential investors?

  Scooter: Haaaah!
  Scooter: I can't provide any advice as I'm not a  licensed financial planner
  Scooter: however,
  Scooter: I will say this again --- there's far too much INTEL out there being provided, with the majority being incorrect
  Scooter: However, this is a great opportunity !!!!!
  Scooter: I won't deny that but I still treat this as something riskier than a penny stock
  Scooter: because it is.
  Scooter: and nobody knows what's going to happen for the exception of about 3 - 5 people
  Scooter: in the world.
  Scooter: but the good news is that there's strong tangible evidence that suggest the RV will occur.,
  Scooter: Logic dictates that it's required sooner rather than later
  Scooter: That's it

  Sam I Am: Anything else you'd like to add?

  Scooter: I don't think so --- I think I've bantered about for the last hour and a half
  Scooter: lol
  Scooter: lol
  Scooter: I'm good!

  Sam I Am: Okay, thanks for your time and all of your research

  Scooter: I just hope this was helpful !
  Scooter: You are so welcome Sam


  1. "Saleh said a redenomination was needed wherein three zeros will be dropped so that the 25,000-dinar banknote -- currently the largest denomination -- becomes a 25-dinar note."


  2. I have been in this investment since 2005 and have the larger and smaller notes. This investment had not begin to drive me crazy until I started following all these Dinar Gurus a little over a year ago. As far as I know Mr. Saleh used the term 'raising the 3 zeros' and not the word 'dropping 3 zeros', I know that is a play on words, but in this business it could be significant?

  3. Well done usual.

  4. He is incorrect on the DFI Funds...that number is the total that was put in the DFI not what was left...there wasn't much left...and does he think they are bringing in the three zero notes through the auctions?


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