Wednesday, September 19, 2012

More of the Best of Breitling

Over the past year of posting about the dinar I have found that one of the best ways to learn about it is to fact check what the gurus are saying.  Nobody puts more "information" and analysis out there than Tony "Breitling", so naturally I have listened to him quite a bit.  In fact I've created a separate blog just to address some of the things he's said lately.  It's called The Breitling Watch and there's a permanent link under Related Sites.

This will be my last post on Breitling unless he gets arrested or something equally newsworthy happens.  I had a lot of information left over from my previous Breitling research that I didn't know what to do with, so I decided to post assorted comments from The Tonester from 2009-2010.  For those of you who feel that I'm being cruel just remember how many people are being influenced to spend money they really can't afford on dinar, not just by Breitling but by all of these guys.  Think about the lives that have been ruined, marriages wrecked, homes foreclosed ..... even suicides.  (One guy wrote Breitling asking about when the RV would happen, saying that his house was about to be foreclosed.  B's response was "let 'em take the damn house!  You can buy another one after the RV!"  And people think I'm the douchebag?)  I have heard far too many of these stories and they're all a result of comments from people who either don't know what the flip they're talking about or are scamming people.


First of all I want to respond to a recent comment by Mr. B.  He was "debunking" my post on "Shabibi and Stability" when he cited an article from 2010 where Saleh from the CBI said:

"I've been working for years to improve the value of the Iraqi dinar exchange, and was taking several measures until we came to the stability of its value at 1170 dinars to the dollar."

Breitling presents this as proof that the CBI's policy is in fact to raise the value (meaning purchasing power) of the dinar, but this actually supports the contention that I've been making that every reference to raising the value is either talking about via redenomination or about raising the street value via the auctions.  Notice Saleh went on to talk about currency reform that will reduce the money supply from 25 trillion to 15 billion dinar, exchange rate stability, deleting three zeros, and issuing new currency to facilitate payments as Shabibi spoke about when he was in DC last year.  This describes a redenomination or "lop" to a T.

"Reform Progress
He disclosed that the new strategy has begun the reform of management system of the national currency and payment system of Iraq, said that this will be the basis in the application of Istratejp to reform the currency. The Iraqi official was likely that these steps will take a year or more.

..........

.........

In 1990, the cash block of 28 billion dinars, and became a six trillion dinars in 2003, and now stands at 25 trillion dinars. He said that this has become necessary to change the payment system because of the Iraqi economy on the verge of developing and producing oil major which leads to a large expenditure.

According to the adviser at the CBI, the new strategy will transform the current monetary mass (25 trillion dinars) to $ 15 billion through the adoption of coins and the smaller Iraqi currency.
.............
..............

Relative stability
For his part, said a banking expert, Mohammed al-Samarrai said the Iraqi dinar is witnessing a relatively stable for the time being, and security conditions influenced the rise and a slight decrease is not as great as in the past............

...........

Surplus oil
The Iraqi banking expert Mohamed Kamel Hussein said that there was a perception among the Iraqi Central Bank to raise three zeroes from the value of the dinar, by issuing a new currency to improve its value.

However, he believed that the lifting of the three zeros will not change anything because the factors affecting the exchange of the dinar against foreign currency depends on the surplus that is supplied by oil revenues."


http://dinaroutcast.forumotion.com/t8204-an-iraqi-official-announced-the-adoption-of-a-new-strategy-intended-to-raise-the-value-of-the-iraqi-dinar-against-foreign-currencies


So B proved my point without realizing it.




Here's an oldie but a goodie.  Back when Breitling was still posting at Med's site Dinar Speculator he was asked about a recent bombing at the CBI. 


Breitling chat: Dinar Speculator 6/21/10 @ 6:30pm June 21, 2010
irishbrian says to (19:02:43):

B, if they drag out the forming of the Gov’t would the wiser heads in the IMF and CBI relaize that the people need something to calm them down and the revalue would at least help to do that. Also the bombings of both CBi and TBI by the insurgents was not a conicidence?

BREITLING says to (19:04:07):

THE BOMBING WERE BECAUSE THEY DID NOT RV

NOT TO STOP IT

http://iraqidinarnews.net/blog/2010/06/22/breitling-chat-dinar-speculator-62110-630pm/



Yep.  According to the Tonester insurgents bombed the CBI because they didn't RV.  So imagine if you will a bunch of dirty, smelly, scruffy insurgents sitting around quoting the Koran, smoking cigarettes, and discussing the latest CBI financial statement. 

"Achmed, what is latest figure on foreign currency reserves?" 
"$43 billion"
"Still backing 100%?"
"Think so."
"Abdul, latest figures for M1 and M2?"
"25 trillion, 58 trillion"
"You believe them?
"Of course not.  Liars!"

"I agree ... Mustafa, latest GDP?"
"$105 billion, give or take."
"Opinions?"
" Still undervalued."
"Agreed.  We Bomb!"
"ALLAHU AKBAR!!!"


Even for Breitling this is stupid.  We're talkin' Okie Oilman stupid.  The CBI was bombed for the same reason every other target was - either sectarianism or resistance to the democratization of Iraq.


Before this fine piece of Iraqi news analysis came an impressive example of B's grasp of modern finance.

4/5/09

In Fractional reserve banking ( which CBI is using) you take $1000 down to the bank and deposit the funds. The bank in return can loan 10 X that amount in credit but it is all based on money's or currency that is not there. you people are simply not under standing how banks work or how they get wealth. so you get a annual report the bank is going to post the inflated credits as if they had real currency. Iraq does not have 35 trillion dinars in hard currency. they have 9 trillion end of story. If i go down to my local bank and i was the only customer and deposit $1000 the bank will report it has $9000 in value. ok they take that $9000 give out a $1000 loan they can add another $9000 to the value of the bank with one deposit and one loan they are at $19,000 in value. is this BS oh hell yeah. but this is how banks are ran and they can pump up the numbers like this as did CBI and every other bank that uses fractional reserve banking. please no more lectures on banking and M2 reports how it all works ,links with shoty definition. and i work part time as a plumber/ construction worker/ banking expert advice. again only place on the planet people are saying Iraq has 35 trillion hard currency is on IIF. so I know you guys are trolling over here. lets get back to the rumors. because as far as i am concerned any one's guess on dates, is as good as any one Else's guess, and plus it is fun. and yes you can float a false rate based on this information example UNITED STARES OF AMERICA. we do it and why should Iraq not do it they have the same system as we do. they same people who own the Federal reserve run the world bank, and the IMF, they own our currency and they own Iraq;s currency also, CAN YOU SAY SLAVES. they manipulate the world through banks. with value that does not really exist.


http://www.dinarrumor.com/showthread.php?1241-Activity-at-the-CBI-on-4-02-09&p=8208#post8208


I asked John Jagerson about the fractional reserve cash-in theory.  He said that right now we only have about $2 trillion USD in circulation.  If investors suddenly cashed in $2 trillion via fractional reserve banking it would double the dollars in circulation virtually overnight which of course would lead to a considerable devaluation if not a crash of the dollar. 

B then says that there was only 9 trillion dinar in circulation in 2009 .... "end of story".  But the CBI website financial statement indicates that there were 21 trillion dinar outside of banks and 45 trillion in the M2 in 2009.  So I guess there was more to the story, huh? 

http://www.cbi.iq/documents/key%20financial.xls


And finally, no Iraq doesn't have the same system that the US does, not when it comes to their currency.  The USD is a free floating currency that is recognized as a world reserve currency.  The IQD is a pegged currency of a country that inspires so little confidence that they're backing it 100% with their foreign currency reserves and they still have trouble maintaining the official value on the streets of Iraq.



In February of 2010 B said that the RV was in the budget.  I don't know how many times I've heard that over the past couple of years but I'm convinced that this started on Med's site and B was repeating what he heard.

February 3, 2010

THE RV IS ALREADY IN THE BUDGET
I KEEP GETTING IM’S PEOPLE IN PANIC
AKING IF WHAT EVER NEWS COMING OUT IS BAD
JUST REMEMBER THE RV IS IN THE BUDGET

http://dinarded.wordpress.com/2010/02/03/breitling-chat-02-03-2010/


Well, apparently the RV wasn't in the budget, huh?


A few weeks later B says that the Iraqis' pay was cut so that must mean that the dinar will be worth more. 


February 20, 2010

IRAQ IS RUNNING ON 20% OF BUDGET LEFT OVER FROM LAST YEAR
THE NEW BUDGET WILL START SOON
MARCH 1ST
WE ALSO ARE GETTING NEWS OF FUNDS BEING PAIED IN LESS DINAR
BUT WILL SAME VALUE
SO THE END OF THE BUDGET AND THE NEW PAYMENT SCALE ARE ALL IN PLACE
BEFORE ELECTIONS
WHEN THIS YEARS BUDGET STARTS IT VERY WEL CAN HAVE THE NEW RAte in it
SO WE HAVE TO BE SO CLOSE
PEOPLE IN IRAQ ARE GETTING LESS DINAR FOR WORK
BUT THE VALUE IS THE SAME
SO THIS WILL GIVE US A RV
MEANS THE DINAR IS WORHT MORE COOL

http://dinarvets.com/forums/index.php?/topic/8976-breitling-chat-ds-22010-1249am/


So I guess these poor Iraqi shmucks have been working for reduced pay for two and a half years now waiting for the RV.  Boy would that suck!



In March 2010 B did a Q & A session at Dinar Daddy.  He was known at the time as one of the main pundits at Med's site Dinar Veterans which became Dinar Speculator.

March 9, 2010

Annonymous Question:
Please dont take this the wrong way. What are your “credentials” and what resources do you have to make you a person of interest concerning this investment. In other words, why should we listen to you? I apologize if this sounds blunt, but I dont know much about you and you are involved with a very controversial person. DD has created a great site. All info, he doesnt give his opinion. Everyones opinion over the last 5 years have unfortunately been wrong. I really dont want to hear opinions anymore. Just facts. According to DD, you fall in that catagory. Thanks you and I appreciate your time and effort. Please

Breitling Answer:
This is a fair question and I appreciate that as a investor I am just that nothing more. In my personal life I own a software company. I never asked anyone to listen to me. I have talked on our private site and some of it has leaked out.  And I have been approached ever since our bread and butter is watching the IMF CBI and GOI. We have not stopped looking at this investment from that perspective. As far as information being wrong I would not know about that I watch what has been done and look for windows, not a hard job really.

Here B only mentions that he owns a software company.  No mention of him being a bank owner, a political consultant, a real estate consultant, a professional investor, a manufacturer .... etc.  All claims he has made over the past year or so.  (I documented this in The Breitling Catalog.)  This doesn't prove anything really, but I do find it interesting.  He had a perfect opportunity to give them the whole Breitling resume and all he mentions is the software company. 



UJGWBW Question:
Breitling, First of all thank you for taking the time to answer our questions. It is greatly appreciated. I know that everyone is very optimistic that we are all going to make a huge amount off of this investment, but what in your opinion are the odds that we make as much as everyone is thinking? From reading Pacster’s info on here he believes we will make about 6 times our money which is a great return, but everyone else tends to believe we will make 1000 times our return.I know that in any investment there is a chance that we could lose money, so what in your opinion are the odds we lose money on this investment? Finally if it does not happen by the elections when do you think the RV will take place? Again thank you for answering our questions.

Breitling Answers:
I don’t know who pacster is and I don’t know where he gets his numbers and I don’t worry about other people posts I don’t ask them for there opinions not interested. I have people who do math all day on this and none of them can agree so I stay away from the rates. Best guess I will go with the Dubai boy’s $1.49 remember best guess only. I really don’t get to much into finding the rate to be honest I just look for the date I spent all I can on this investment no matter what the rate is going to be. so knowing the rate will not help me or do anything for me.  As far as chances of investment not panning out it depends on how you look at it. You know the Dinar is going to go up I mean you have to be a idiot to no think the Dinar is not going to go up, look at all the countries around Iraq and the rate of the currency. Iraq has a ton of recourses. Way more then all in that region So how can the rate not go up ? I mean you have to be blind IMOP not to see it. And, if you think Iraq is going to be below a 1 USD after looking at all those other countries and they don’t want Iraq coming in to low because or labor and export rates. Then I don’t know what to tell ya. So I think your safe and I wish you well with this investment. If it does not next window is when the new budget hits and the new rate may be attached to it. March 15th I think

Well in the two and a half years since he said this the dinar has gone up 1/3 of 1%.  No, it doesn't have to go up.  It obviously doesn't have to do anything.  It could very well stay about where it is for years.

  

CWO4USMC Question:
Breitling, I’m very tired of seeing the dead LOP horse being beaten. That horse is dead IMO but it just won’t go away.. I have a question that I have not seen anyone ask before. IF a LOP happened I.E. the removing/raising of the 000’s will take away the bills with ,000 printed on them. 25,000 10,000 ……. 1,000 will be taken out of circulation, how does this or should I say how “Can” this apply to a bank account with no paper money?

Breitling Answer:
The only people on the planet that talk about LOPS are from one forum and the misunderstanding have been carried to other forums Iraq under any law are in no condition to LOP they could not even if they wanted to they have one of the lowest inflation rates in the world, and LOPS only apply to countries with high inflation 50% and above. This started when WARKA was trying to scare people into buying stock and for the longest time it worked. You don’t need to worry about the LOP. I don’t care how you read the articles Iraq wants the big notes off the market. And the three zeros of the
rate that’s two dif things.

Here you have the blind answering the blind.  The question comes from a guy who thinks that "deleting three zeros" means they will remove the notes with three zeros from circulation.  As I have posted before "deleting zeros" means redenomination (lop) and in a redenomination all denominations are demonetized.  And of course electronic currency is adjusted to reflect the rate of the new currency.

B says that the only people on earth who talk about the lop are the confused members and former members of "one forum" which I believe is a reference to IIF (Investors Iraq Forum).  I guess he forgot about Shabibi.  He said when he was in DC last year that deleting the zeros is being done simply to facilitate payments.  That's what a lop does.  He has also stated that he was studying the redenomination of Turkey, which was a lop.  By the way, Turkey's inflation rate was under 10% when they lopped in 2005.  And if Iraq wants the big notes off the market they've got a strange way of doing it.  The money supply is going up, not down.  How do you increase the money supply while removing the 000 notes from circulation and without raising the value of the dinar?



Gloria Roop Question:
Do you believe that the dinar’s value will increase to its former value in the future? If we all cash some dinar at the opening rv, is it wise to hold on to some and wait out the increase? I truly believe that in the future ( five years or so) that the Iraqi dinar will be the most valuable money in the world. Thank you all so very much for being there for all of us. Your expertise is so very appreciated.

Breitling Answer:
I am right there with you but the way I look at it with the investments I have planned I can make $5 per Dinar on investing it on other projects with in the 5 year mark, so for me it is a big risk, you may be in a dif spot then me so it depends on how you look at it, I also am in the opinion that they will have the number one rated currency on the planet in the 5-10 year range. I wish you and your family well.

That was two and a half years ago so that 5-10 year range is now 2.5-7.5 years.  So far it's gone up 1/3 of 1%.  That means it's increasing in value at a rate of 1% every 7.5 years.  At that rate it will take 750 years to go up 100%.  7,500 years to go up 1,000%.  75,000 years to go up 10,000%.  750,000 years to go up 100,000%.  That means it will take over 3 million years to become the world's most valuable currency.  So according to my math B is off by 3 million years, give or take. 


Sharon Dryden Question:
Again and Again I ask myself, “Why aren’t the Americans living in Iraq and or the nationals” within their own country speaking to each other and their neighbors, and people they would know in other parts of the world about the revalue of the currency and when this event will transpire???!!! Hmmmmm. Thanks, Coloradopinecrone

Breitling Answer:
Maybe this will help you , why did the people in India not buy the currency before the RV. Why did the Chinese not buy into that currency before the RV yet they RV’ed so did India? Why did’nt any one in the eastern block countries buy the new currency before it RVed ? Yet all this countries Rv’ed. kind of makes you go hmmmmmmmmmmm maybe the thought this investment was to good to be true? Like all the other countries that rved from 1955 on up? do your homework. One thing I learned in this life is you cant talk the avg human being out of being poor because it is all just to good to be true, or everyone would be doing it. Keep telling yourself that , just more pie for me.


As I pointed out in The Breitling Catalog the revaluations in India and Canada were each less than 30%.  If you had bought $10,000 worth of either one at precisely the right time your profit would have been between $2500 and $3,000.  A nice profit but "too good to be true"?  Hardly.  Now, if you own $10,000 worth of IQD and it goes from $.00086 to $.86 your profit would be almost $10 million, and THAT IS too good to be true!




March 23, 2010, 2:06 AM

JUST SO YOU GUYS KNOW IRAQ HAS DONE EVERYTHING THE UN AND THE IMF HAVE ASKED
SO WE ARE NOT FAR AWAY
WE ARE CLOSER THEN YOU THINK
........
IRAQ IS HITTING IN ALL CYLANDERS
IT WILL RV
DONT WORRY ABOUT IT
PHmichael says to (18:56:54):
breit ,,,will the imf implement rv if it continues to evade iraqi implementation
PH YES THEY WILL
AND IN THE PAST 50 YEARS THEY HAVE DONE SO
AND WHAT WAS IT THEY GAVE THEM THE POWER TO DO SO
.....
IT WAS THE LOANS THAT GAVE THEM THE POWER
JUST REMEMBER THIS IS CLOSER THEN YOU THINK

http://dinardaddy.wordpress.com/2010/03/23/breitling-chat-dinar-speculator-32210/

 
Well unless they were all thinking that it would be another 3 years I'd say it wasn't closer than they thought.   Even with the IMF loan it hasn't happened yet. 




3/19/10
 

IT IS VERY HARD FOR SOMEONE TO JUST UNDERSTAND ALL THATS GOING ON
TOOK ME A YEAR + TO GET IT DOWN
.....
THE IMF LOAN FOR 3 BILLION THAT WAS BUILT INTO THE BUDGET IS ALL WE NEEDED
......
AND LOOK AT PAST MODELS THE IMF HAS USED , AND LOOK AT WHAT THEY DID
THIS IS ALL PAR FOR THE IMF AND MOVING A CURRENCY UP AND INTO A TRADABLE STAGE
THEY HAVE DONE THIS MANY TIMES SINCE THE 50'S
SO THEY KNOW WHAT NEEDS TO BE DONE AND WHAT CAN BE DONE
NOTHING NEW GOING ON HERE
THE NEW CURRENCY WAS PLANNED BEFORE WE INVADED IRAQ
MEANDS WE HAD A PLAN TO PAY OURSELVES BACK FOR THE COST OF THE WAR
BEFORE THE WAR EVEN STARTED

http://dinarvets.com/forums/index.php?/topic/12478-breitling-chat-3-19-2010-948am/


B says that it took him a year to get this dinar thing down.  Well if you buy the idea that electronic currency can protect you in the event of a lop, or that it's possible to raise the value of a currency by 100,000%, or that you can reduce the money supply by 99% without a lop, or that you have to have 50% inflation to lop, or that Bush said the war would pay for itself, or that deleting the zeros means removing the larger notes from circulation .... then yeah, I guess B's got it down. 

B says that the IMF has raised the value of currencies several times since the 50s.  I'm still looking for documentation of this, but based on what I've seen so far I don't anticipate anybody producing it.  What I have found is a document from the Congressional Research Service that says:

The International Monetary Fund (IMF) and World Trade Organization (WTO) approach the issue of “currency manipulation” differently. The IMF Articles of Agreement prohibit countries from manipulating their currency for the purpose of gaining unfair trade advantage, but the IMF cannot force a country to change its exchange rate policies. The WTO has rules against subsidies, but these are very narrow and specific and do not seem to encompass currency manipulation. Several
options might be considered for addressing this matter in the future, if policymakers deem this a wise course of action. To date, while the issue remains a topic of concern, governments have not
taken action to address the different ways the IMF and WTO address this topic

The IMF can exercise “firm surveillance” but it cannot compel a country to change its exchange rate. Nor can it order commercial foreign exchange dealers to change the prices at which they
trade currencies. It can offer economic advice and discuss how changes in countries’ exchange rates might be in their own interest. It can also provide a forum, such as its new multilateral
consultation mechanism or discussion on the IMF executive board, where other countries can urge a country to change its exchange rate procedures. However, in the end, the authority to make the change resides with the country alone.


http://www.fas.org/sgp/crs/misc/RS22658.pdf



As for the plan to pay ourselves back before the war started, that's pumper BS.  Nothing about that war was planned very well beyond the overthrow of Saddam.  Remember, Donald Rumsfeld estimated that the war would last less than six months.  If there was a plan to cover the cost of the war that was obliterated by the ensuing insurgency that dragged the war on for eight years and escalated the cost to upwards of a trillion dollars.



In March of 2010 Breitling gave a pep talk to some downcast investors.


4-5-10

NOTHING TO WORRY ABOUT GUYS
JUST SIT BACK AND RELAX
I THINK WE WERE SUPPOSED TO HAVE IT ALREADY
MID MARCH
lawlesslucy: u mean april?
NO MID MARCH
WAS SUPOSED TO BE DONE WITH ALL THIS
JUST DELAYS
THEY CANT AVOID IT FOREVER
ALL THE CHIPS ARE ON OUR SIDE
JUST POLITICS AND LEGAS ISSUES
mrdinar: b – is every day a possibility from now on?
NO WHEN THE SEAT THE PM IS WHEN THEY WILL HAVE HAND ON THE SWITCH
WHEN YOU SEE WHO IS SEATED
lawlesslucy: when do u thikn they wills eat the PM?
MAYBE THIS WEEK SOMETIME
BUT BE HONEST I DONT KNOW
I HAVE ASKED ABOUT LEGAL DEADLINES AND I GOT LIKE 15 ANSWERS
AND ALL WERE PLAUSIBLE
SO WE WAIT ………………………
BUT
WE ARE SO GOLDEN
JUST RELAX AND HAVE FUN OK
YOU DONT RELIZE THIS BUT YOUR PRAYERS HAVE ALREADY BEEN ANSWERED

http://dinarvets.com/forums/index.php?/topic/14580-breitling-chat-4510/


Maybe God's answer was "NO."
 
A month later:

4/7/10 

Breitling says to : THE ARTICLES THAT ARE COING OUT ABOUT IT MAY TAKE 5 MONTHS TO FIX THIS ELECTION
Breitling says to : YOU HAVE TO READ INTO THEM CORRECTLY
Breitling says to : YOU GUYS EVER WATCH THE NEWS HERE IN THE STATES
Breitling says to : AND YOU HAVE A BUNCH OF PEOPLE DROPPING OPINIONS LIKE NOTHING
Breitling says to : THATS WHAT IS HAPPENING
Breitling says to : THOSE ARTICLES ARE NOT OFFICIAL
Breitling says to : THE ARE WAY OVER STATED
Breitling says to : FOR POLITICAL REASONS
Breitling says to : IT AINT GOING TO TAKE 5 MONTHS FOR THEM TO HASH OUT A GOV
Breitling says to : THE LAWS ARE CLEAR AS A BELL
Breitling says to : AND THE UN AND THE USA WILL FORCE THEM TO FOLLOW TO THE END
Breitling says to : SO DONT WORRY ABOUT THAT OK
Breitling says to : THE BOMBINGS
Breitling says to : WE HAVE MORE MURDERS HERE IN THE STATES THEN THEY HAVE BOMBINGS
Breitling says to : SO EVEN AFTER IT RV;S THEY ARE GOING TO BOMB SOMEONE
Breitling says to : THAT WILL NOT FORCE ARE GET US ANY CLOSER TO RV
Breitling says to : IT IS THE SAME AS IT WAS LAST YEAR WHEN IRAQ ASKED THE IMF IF THEY WILL HELP THEM GET THE CURRENCY BACK ONTO THE OPEN MARKET
Breitling says to : IMF GAVE THEM STIPS
Breitling says to : AND THEY HAVE BEEN WORKING ON THAT EVER SINCE
Breitling says to : THEY HAVE DONE EVERY ONE
Breitling says to : EXCEPT ONE
Breitling says to : ANY ONE?
Breitling says to : KNOW WHAT THAT IS
dinarfrank says to : RV
Breitling says to : CORRECT
Breitling says to : SO WE ARE NOT FAR AWAY FROM ANYTHING
Breitling says to : IT IS CLOSE
Breitling says to : AND WE ARE ON TOP OF IT
Breitling says to : ALL THE REST IS SIDE SHOW ANTICS
Breitling says to : MEANS ZERO

http://dinarvets.com/forums/index.php?/topic/14858-breitling-chat-4-7-10-early-morning/


It was in fact another 6 months before the election was resolved and another 8 months before Maliki's government was approved by parliament.  As for his comments about murders in the US, the only country with a higher murder rate than Iraq is El Salvador.  As last week's bombings demonstrate Iraq is still a very dangerous place, and that discourages investment as anybody who understands economics and currency valuation realizes.




4/25/10

GUYS OUT OF ASIA ARE GOING CRAZY
THEY CANT EVEN GET VIETNAM CURRENCY OUT OF HONG KONG
HEAVY HITTERS ARE BUYING IT ALL UP
HEY I DID A INTERVIEW ON THE VEITNAM CURRENCY WITH DD
DID YOU GUYS SEE THAT
IT IS THE INTERVIEW I GAVE DD ABOUT THE DONG
I AM REALY THE ONLY ONE WITH INTEL ON IT
DONT KNOW HOW ALL OF A SUDDEN EVERY ONE NOW KNOWS PEOPLE FROM NAM
BETWEEN 1 -6
PROB ANYDAY
YOU GUYS HAVE TO UNDERSTAND
WE SHOULD BE IN POST RV MODE
IT SHOULD HAVE BEEN RIGHT AFTER THE ELECTIONS
BUT HERE WE ARE

http://dinarvets.com/forums/index.php?/topic/16964-breitling-chat-ds-4252010-1234-pm/


Yep, and here we still are.  As I pointed out in The Breitling Catalog the dong has steadily depreciated since then.  No RV.  I'm not sure but I believe this is where the hype about the dong originated, and since then it seems all the gurus have an opinion about it.  In my opinion it all started because some supplier was unable to deliver dong to his dealer client and somebody read RV into that.  You know how these things go.  Today currency dealers seem to have no shortage of VND. 




5/24/2010
 

I WAS TELLING THE DV FOLKS LAST NIGHT ABOUT SOME NEWS I GOT
what’s the news, B?
ANY WAYS SMALL REPORT
I HAVE HAD BUSINESS CONTACtS OUT OF DUBIA FOR 2 YEARS NOW
THIS GROUP I WAS WITH FRIDAY IS A DIF GROUP OUT OF DUBAI
THEY ARE FRENCH AND LIVE IN DUBAI
THEY WORK FOR YAMAHA
I INTODUCED THE DINAR TO THEM
ABOUT 4 MONTHS AGO
ANYWHO, THEY WHERE IN HAVASU FOR JETSKI TESTING AND THEY GAVE ME A REOPRT OUT OF DUBAI WHAT IS BEING SAID
AND ALL THE BANKING AND INVESTMENT CONTACTS IN DUBAI THAT THEY HAVE, ARE ALL KNOW THE DINAR
AND THEY ALL KNOW IT IS GOING UP SOON
THEY DON”T KNOW THE RATE OR ANYTHING
BUT THEY KNOW
AND IT IS A BIG DEAL
THEY BOUGHT MORE TODAY
THE CAT IS OUT OF THE BAG AS THEY SAY
AND THE BANKING COMMUNITY IN DUBAI IS ON IT
ANYWAYS
THAT’S ALL IT WAS
let’s hope maliki doesn’t kill the cat
I GOT PUMPED AFTER THEY TOLD ME THIS
NO HE WON’T
THE IMF HAS A RED LINE THEY WON’T GO BELOW
THEY WILL RV JUST TO GET THE FUNDS THEY GAVE BACK
SO AT A MINIMUM WE HAVE THAT
BUT HE CAN NOT MESS IT UP
ONLY DELAY IT

http://dinarvets.com/forums/index.php?/topic/19532-breitling-chat-24-may-2010/


So much for his contacts in Do Buy.  And what's up with that IMF thing?  Don't they want their money back?




5/20/10
 

THE RV IS ON THE TABLE AND ATTACHED TO THE ELECTIONS AND THE CHPATER 7
ONE WILL PROB BE ELIMINATED NEXT WEEK
DONT WORRY IT WILL WORK OUT
WE DONT EVEN NEED THEM TO RV
IF WE CAN JUST GET THE DINAR ON THE OPEN EXCHANGE IT WILL GO UP TO A BUCK OVER NIGHT

http://dinarvets.com/forums/index.php?/topic/19201-breitling-chat-dinar-speculator-52010-700pm/


A 100,000% increase overnight on the open exchange?  For those of you who don't know, a 2% increase in one day on forex is HUGE.




6/19/10
 

I JUST HAD A TALK WITH SOME OF MY GOOD FREINDS ABOUT THE DINAR
DONT WORRY YOU GUYS ARE ALL ALREADY RICH
THEY ARE HIDING THE TRUE VALUE
JUST THINK OF IT ON THOSE TERMS
ALSO WHY THEY HAVE NOT REALEASED THE TRUE VALUE YET
THE NEW GOVERNMENT WILL HAVE THE MANDATE TO SERVE THROUGH 2014
AND THAT IS WHY THE GAME IS SO BIG AND THE DELAYS MEAN SO MUCH
BUT THEY ARE PROGRESSING DONT THINK THEY ARE NOT
THE OUTCOME WILL BE PROB A THRRE WAY SPLIT AMONG THE KURDS , AND THE TWO TOP LARGEST BLOCS
THIS WAY THE POWER EVEN OUT
ALLOT OF HORSE TRADING GOING ON
THIS MAY SEEM CRAZY BUT THIS IS GOOD
NOT ONE PARTY IS GOING TO HAVE POWER OVER IRAQ
IT IS GOING TO BE A SPLIT
AND THAT IS GOING TO MAKE IT A BIT MORE STABLE
SO THE PROCESS TO GET THIS DONE IS A LIITER HARDER AND TUFFER
BUT DONT WORRY YOU WILL BE ABLE TO CASH IN WITH THE TRUE VLAUE SOON
SORRY I HAVE BEEN A NO SHOW , BUT I STARTED A NEW COMPANY
WHY DO WE KNOW THE DINAR VALUE IS HIGER THEN IT SHOULD BE ?
THEY GOT RID OF 70%
OF ?
THIS IS THE SAME PROB NAM HAS
THEY HAVE WAY TOO MUCH CASH
CHINA IS CALLING IT A UNFAIR PLAY BY NAM
AND WILL FORCE THEM TO TAKE AMOUNTS OF THE CURRENCY OFF THE MARKET
THIS IS WHAT YOU SHOULD BE LOOKING FOR
CHINA NEEDS THE DINAR TO RV MORE THEN THE REST OF US
ALSO WHY THEY HAVE NOT REALEASED THE TRUE VALUE YET
WHY DO WE KNOW THE DINAR VALUE IS HIGER THEN IT SHOULD BE ?
DONT WORRY IT WILL RV
THEY ARE STILL IN IT…..AND PROB WILL GET TO CHPATER 8 AFTER
SHJ THEY HAVE A TON OF DINAR
YOU KNOW WHY ?
THEY KNOW WHAT WE KNOW
IT IS WORTH A TON OF MONEY
THAT SHOULD MAKE YOU HAPPY JUST KNOWING THAT
REMEMBER TODAYS RATE IS NOT A REAL RATE
YOU GUYS DONT KNOW HOW BLESSED YOUR ARE REALLY….THE WORLD IS GOING TO BE PUMPED UP BY THIS AND YOUR ONE OF THE VERY FEW SITTING ON THE CURRENCY…IT IS AMAZING

http://iraqidinarnews.net/blog/2010/06/19/breitling-chat-dinar-speculator-61910-1230pm/


It truly is amazing.  It's amazing to me that anybody listens to this guy.  Hiding the true value?  The true value is out there in plain view.  $.00086 is the value when you have about $60 billion in foreign currency reserves backing about 70 trillion in currency.  If they got rid of 70% then why do their money supply figures keep going up?  This was over two years ago, folks.  Are we to  believe that the Iraqis have been surviving on less than 30% of the money they had over two years ago?  And if they're using USD instead how does their foreign currency reserves total keep climbing?   




7/19/10 @ 10:30pm

hansonent says to (23:15:25):
Breitling, What is your current Thoughts on the V. Dong?
Breitling says to (23:15:44):
STILL WATCHING TO SEE IF THEY ARE GETTING RID OF CURRENCY OFF THE MARKET
JUST LIKE IRAQ DID
WHAT IS FUNNY ABOUT THAT
PEOPLE BOUGHT DONG THINKING THEY WOULD MAKE A QUICK BUCK
THATS NOT HOW THIS GAME WORKS
YOU STOCK UP ON CHEAP CURRENCY WHEN EVER YOU CAN
UNTILL IT POPS
THATS HOW YOU PLAY THIS GAME
WHEN I BOUGHT DINAR THATS HOW I APPROACHED THIS
BUY LOW SELL HIGH
BUT WE HAVE THE DINAR GOING
AND WE ARE AT THE END
WITH THE REDUCTION OF IRAQ CURRENCY OUTSIDE AND INSIDE
THE RATES CAN GO WAY HIGER THEN I EVER THOUGHT
I JUST NEVER DREAMED THEY WOULD TAKE THAT MUCH OFF THE MARKET
THIS PROVES THE CBI NUMBERS IS A COMPLETE LIE
WHICH MOST SUSPECTED ANYWAYS
FROM WHAT I HAVE GOTTEN THE POST IN THE GOV HAVE BEEN AGRRED ON ALREADY
AND THEY JUST HAVE TO GET THE LAW TO COMPLY WITH IT
THE RATE OF THE DINAR IS BASED ON THE BAD NUMBERS ON THE CBI SITE RIGHT ?
SO IF WE KNOW THEY HAVE REDUSED 70+ %
AND THEY HAVE NOT POST THAT REFLECTION ON THE SITE YET
THEN THE RATES THE CBI HAS ARE VOID, OR WRONG
THE DINAR RATES ARE ALLOT HIGHER THEN WHAT IS BEING POST
AND WHEN IT RV’S THEY WILL ADD TO THAT ANYWAYS
SO YOUR ALREADY GOLDEN
WHEN THEY ARE IN CHAPTER 8 STATUS, WE WILL LEARN MORE ABOUT THAT STUFF
.....
STAY GOLDEN 

http://dinarvets.com/forums/index.php?/topic/24984-breitling-chat-dinar-speculator-71910-1030pm/


Golden showers from Mr. B.  Interesting how here he says people bought dong thinking they would make a quick buck.  "That's not how this game works."  Yet one of the reasons they thought that no doubt was people like B saying "heavy hitters are buying it all up", "probably any day now",  "1-6 cents".  Three months later with no RV Breitling is saying they shouldn't have expected to turn a quick profit.  What a douche!  "Buy low, sell high."  Well how about buy low and watch it go lower?  And this 70% reduction of the money supply as we all now know was a total misinterpretation of an article about moving 70% of the excess liquidity into the economy. 


Like I said, Breitling is either completely misinformed and confused or he's a scammer.  Based on his recent pumping of the penny stock LDHL I'm leaning toward the latter.  The world of currency investments, MLM, and penny stocks is full of hucksters preying on the uninitiated and gullible.  I'm still waiting for B to pick a stock for us on NASDAQ or the NYSE that will go up substantially because of strong fundamentals as opposed to an OTC stock that can be manipulated through hype. 














7 comments:

  1. Good post Sam.

    "It's amazing to me is that anybody listens to this guy. Hiding the true value? The true value is out there in plain view. $.00086 is the value when you have about $60 billion in foreign currency reserves backing about 70 trillion in currency"

    Indeed. Even the IMF have stated the Dinar is "fair value" at its current rate:-

    "The CBI [Central Bank of Iraq] will continue to aim at keeping inflation low, predominantly by maintaining a stable exchange rate. The low level and the relative stability of inflation do not suggest any significant over- or under-valuation of the Iraqi dinar. Also, a stable exchange rate continues to provide a solid anchor for the public’s expectations in an otherwise highly uncertain environment and in an economy with a very low level of financial intermediation." - IMF
    http://www.iraq-businessnews.com/2011/03/30/imf-suggests-stable-iraqi-dinar/

    As for "taking 70% of money out of circulation", LOL:-

    Iraqi Dinar's Money Supply Annually Since The 2003 War:-
    2004 - 7.1tn banknotes / 12.2tn M2 supply
    2005 - 9.1tn banknotes / 14.5tn M2 supply
    2006 - 11.0tn banknotes / 21.1tn M2 supply
    2007 - 14.2tn banknotes / 27.0tn M2 supply
    2008 - 18.5tn banknotes / 36.9tn M2 supply
    2009 - 21.8tn banknotes / 46.4tn M2 supply
    2010 - 24.3tn banknotes / 60.4tn M2 supply
    2011 - 26.3tn banknotes / 65.1tn M2 supply
    2012 - 29.8tn banknotes / 72.0tn M2 supply

    And a nice graph taken straight from the CBI's website for Breitling fanboys who have trouble with figures and need pictures ;-)
    http://img31.imageshack.us/img31/6500/iraqdinarmoneysupply200.jpg

    The guy's a chronic bald-faced liar.

    ReplyDelete
  2. sam did you see this? http://www.13abc.com/story/19594414/local-men-charged-with-fraud-in-multi-million-dollar-scheme-to-sell-iraqi-currency#.UFsrGAa2P6A.facebook

    ReplyDelete
    Replies
    1. Thanks supergirl. News is spreading fast on this. Can't wait to see a few more indictments.

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  3. also i believe you would get more comments if you didn't have to jump through hoops to leave one. i had to enter the word verification 7 times and each time i entered it correctly, when leaving my previous message. you should check it out.

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    Replies
    1. I allowed comments from non-registered readers in the past and there was too much abuse. This way it seems to keep the riff-raff out. I'll consider adjusting it though. Thanks.

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  4. I love it! What a great indictment of his idiocy.

    A few months after I foolishly bought some dinar I asked my buddy what the problem was with the RV. It was, of course, "imminent" or "any day now" when I bought it but it hadn't happened yet. He told me to listen to this currency expert on the internet named Breitling and that would restore my confidence. Within 5 minutes he read an e-mail from a listener asking him about something (Christine) Lagarde said or did the previous day. Breitling said he didn't know who this "Lagarde" person was that she was referring to but it didn't matter. I immediately laughed, shook my head and turned it off. If a supposed currency expert didn't even know who the director of the International Monetary Fund was(and this guy was considered a knowledgable source on the dinar), I had a sneaking suspicion that the whole dinar craze was nothing but a hyped-up mania. Needless to say, I started doing some of my own research and talking to real, live currency traders and it didn't take long to determine the whole thing is a scam fueled by ignorance, financial desperation and the internet. That was over a year ago. Amazingly, I still haven't convinced my buddy that it's a hoax. The dinar has a hold on some people that I just can't understand or explain.

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  5. It is simply sad. The reason people listen to guys like B is because they will always listen to those who tell them what they want to hear. No different than any other money making/marketing plan. Those involved only want to hear how much money they will make, even if it is all lies. Only in the land of dinar do lies become forum facts.

    Facts are never welcomed, they are twisted in order to make them say what people want to hear, just like most other matters involving greed. Breitling stands to join the growing list of folks getting arrested due to fraud. he was and is responsible for the pumping of lower denoms such as the 50 dinar that was being sold at a criminal premium, and many bought up a ton of them to "protect them from a lop". The guy knows exactly what he is doing, and he is a dangerous and destructive influence to those that listen to him. Those folks that bought up all those 50 dinar notes will be holding a note worth approx. .05 after the CBI rebases their currency. Some were paying over 3,000 for 1M 50 notes, all due to people like Breitling lying to them. He preys upon uninformed people, just like the rest do. It is a very volatile situation that is growing and folks are beginning to understand they were lied to.

    ReplyDelete

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