Thursday, April 25, 2013

Poppy Perplexed, Disappointed

Dinar intel guru Poppy3 said that the RV would happen around April 1, which of course was wrong.  When no RV occurred he was surprised, and said:

Dan "Poppy3" Bloodworth
I HAVE NO IDEA ABOUT THE CHANGE AND NOTHING REPORTED AS WHY THE CHANGE. SEEMS THERE IS A UNDERLIEING PROBLEM IN SOME AREA THAT HAS NOT BEEN REVIELED YET OR IF IT HAS NO ONE FROM OUR GOV. OR OUR EMBASSY THERE HAS BEEN TOLD EXACTLY WHAT IT COULD BE FOR SURE. THEY ALWAYS HAVE MUNIPULATIONS GOING ON BUT ALL MY SOURCES HAVE HAD THE SAME TIMING OF COMPLETION TOLD TO THEM FROM MANY DIFFERENT SOURCE AND THE BIG THING HAS BEEN THAT THE SAME THINGS WHERE BEING BACKED UP IN ALL THE NEWS ARTICLES. TIME WILL TELL BUT FOR NOW I AM JUST GOING TO HAVE TO WAIT AND SEE. STAND STRONG AND POSITIVE. POPPY3

I am very disappointed not to see RV this morning but not discouraged. I can't imagine from all the news that it isn't here yet. I am waiting for calls and anxious to here from all sources because I am sure they are all as surprised as I am today that we aren't planning for exchange.  

http://forum.dinardetectives.com/post/Poppy3-6282011



I'm not even going to address the grammar and spelling here.  I'll just offer the same explanation I gave everybody a few weeks ago.  They didn't RV because they're not going to RV.  They're not going to "RI".  They're not going to "pip it up" to $1.  They're not going to free float it back to the value from 30 years ago.  They're going to keep the value where it is until they demonetize it when they remove three zeros from the exchange rate and issue the replacement currency.  This isn't just my guess or opinion.  This is what the CBI has been saying for the past two years.  The gurus won't tell you that of course because it doesn't fit with their agenda.  That's part of why I started this blog, to present the facts that you can't get in dinar dealer sponsored forums.

You don't need to read thousands of articles translated from Arabic into English.  You don't need to study the Iraqi constitution, Sharia law, or the history of Iraq.  You don't need to visit dozens of forums or listen to conference calls every day.  All you really need to know about this "investment" is two things.

  1. The CBI's stated policy for the dinar is exchange rate stability.  They've been on that policy since 2004 except for a 26 month span when they went to a crawling peg in order to get inflation under control.  Once they accomplished that they went back to their policy of stabilization on 1/1/2009.  In over four years the value has only increased by 4 pips which equates to 1/3 of 1%.  That's stability!  And there's been no announcement of any plans to change that policy.   http://dinardouchebags.blogspot.com/2013/03/cbi-policy.html
  2. The CBI's stated plan for the dinar is a redenomination.  They intend to accomplish this by removing three zeros (the "delete the zeros" project) from the exchange rate and issuing a new currency to replace the IQD at a ratio of 1000 old dinar for 1 new dinar.  This was confirmed by a federal document back in September 2012 (see Dinar Indictments).  Even though parliament hasn't approved the currency reform it's still on the CBI's agenda.  http://www.alsumaria.tv/news/40540/iraq-central-bank-to-remove-three-zeroes-from-iraq
    http://www.iraq-businessnews.com/2011/07/05/new-dinars-for-old/
    http://dinardouchebags.blogspot.com/2012/06/deleting-zeros.html
Once you know and understand these two critical points you can get on with your life, knowing that the dinar that investors hold will never significantly increase in value and will eventually become worthless when it is replaced.  Things could change of course, but this is what the CBI has been saying for several years now and so far there's no indication that they're considering anything different.  If their policies and plans are carried out the IQD will never provide any profit for the vast majority of speculators. 

Gurus and pumpers are misrepresenting what the CBI is stating.  That's why the dinar investment is considered a scam, because qualified people in the government, banking industry, and investment world know what the CBI intends to do and they understand that nobody is going to get rich off of a currency with a stable exchange rate that is headed for a redenomination.

I don't know about you, but if I was a guru and I gave a date for the RV that proved to be wrong I would be devestated and humiliated.  I would be reluctant to ever offer another prediction or time frame again, and I certainly wouldn't trust any of the sources who provided me with that intel.  But then, I'm not a guru and I don't have a dinar dealer paying me to advertise on my site.  (Yes, I do have dinar dealer ads that appear from time to time in Google Adsense, but that doesn't make me beholden to them.)

Poppy is shameless, however.  He's been dishing out this BS for over two years now with his highly placed sources and is batting a great big zero. 

3-31-2011  This source has never wrong…Friday afternoon will be the announcement of the RV…This source has NEVER been wrong… (can't say that anymore)

4-27-2011  the treasury and fed parts will be released tomorrow and the rv should follow within hours.  (17,328 hours and counting)

5-23-2011  I am expecting a very green day with lots of rain & sunshine mixed with lots of money. I am counting on the next 48 hours being wonderful with loads of great news….over 2 years of research & all the indications & intel from all the site & over 15 devout researchers all agree today & tomorrow are the best prospects we have ever had in the 8 years some have been involved.  (And all 15 were wrong)

6-11-2011  nothing would show till after business hours Friday…we should see the RV by Monday evening…no delay at this time…all is still looking well  (96 Mondays and counting)

7-28-2011  TODAY IS THE DAY, NOW WHETHER THEY FIND A WAY TO STOP IT OR NOT -TODAY IS THE DAY IT IS SUPPOSED TO HAPPEN ACCORDING TO THE SENATORS, CONGRESSMAN, IMF, UST, FED CONTACTS THAT ARE TALKING – IT IS NOT A DEADLINE BUT IT IS AND HAS BEEN PLANNED TO SHOW TODAY.  (Guess they found a way, huh?)

8-15-2011  all intel says between now and no later than the 28th of august with Tuesday being the most possible day available . several major contracts with contractors from other countries are to be paid in rv’ed funds no later than the 28, so the rv must be completed before then. The us will be calling for it to be released by Tuesday evening this week  (Guess they got paid in something else, huh?)

9-10-11  WE SHOULD BE CASHING OUT ON WED AT THE LATEST AND SHOULD HEAR THE RV RATE AND ABSOLUTE ACTIVATION NO LATER THAN MONDAY. THIS IS SOLID INFORMATION FROM AS GOOD A SOURCE AS POSSIBLE. DIRECT FROM BAGDAD. THE IMF SAID, BACK IN OCTOBER 2010, THEY APPROVED $3.22 PLUS UP TO 20% MORE FOR INFLATION BUT THEY HAVE DISCOVERED 26% MORE OIL RESERVE THAN EVER REPORTED SINCE THAT RATE WAS APPROVED. MY PREDICTIONS IS AND ALWAYS HAS BEEN, THE RATE WILL BE WITHIN .10 CENTS OF KUWAIT UP OR DOWN, NOW SMILE AND BE HAPPY  (Wait a minute!  What about the Monday in June?)

10-12-2011  I am sure when this thing goes global history will show that the RV occurred on June 30 just as it was planned. The 26 countries that raised cane last dec. about the extention that the UN nation was asking these countries to grant IRAQ the extention. YET NOT ONE OF THEM HAVE SAID A WORD ABOUT THEIR 180 BILLION . I have a friend that works for exxon…and his team along with Haliburtons team where sent home two months early ON JUNE 15 and he stated they where going to send everyone home if the companies where not paid by June 30th AS AGREED ??? He returned to Iraq on July 5th ?? THEY GOT PAID IN RV’ED MONEY. Iraq has been making deals with individual companies and other countries every since June 30. It’s like they and our gov. have approved just enough of the budget to keep things moving.. THEY WILL ACTIVATE THE RV GLOBALLY VERY SOON . THINGS ARE LINING UP FAST NOW. (I am sure that history will show that you're a douche)

11/8/2011 - Inflation rate is soaring and Shabibi will not let it get out of control over year ago the trigger point he didn’t want it to go over 7.5% and it could get out of control and its now over 9% so heat is on for him to stop this with an RV it will reverse it  (He was partially right on this one.  Shabibi did raise the value 4 pips in January 2012 and that brought inflation back down.)

12-7-2011  it should happen either just before or just after maliki makes his speech here on the 12th and…the banking industry offers update on the first and 15th of the month. Maliki is wanting to have the rv in hand when he gets here or to be able to get it done immediately after he leaves. They have been pushing every document through and taking every vote needed and settleing every argument they have had in the last month to get the rv done.  (Guess they got'r done.  The 4 pip RV, that is.)

1/30/2012 - RickeyT no they don’t have years they have way to much pending on their end to tary or put off for a long period. Inflation is rising and shabibi hates that he has stated he can’t let it get to a certain level or it will be to hard for him to reign it back in.  Also the have ordered ships and aircraft that they need yesterday and construction of these will not start till they have paid a large % of the purchase price. No it will be very soon.  (Unfortunately Poppy doesn't recognize an RV when he sees it.  By this time Shabibi had already raised it.)

7/6/2012i don't have a link but it was sent to me by 4 different sources that it did take place.  (And all 4 were wrong)


You can read a more thorough account of Poppy's tripe on my What'd I Say? page. 

What possible explanation could there be for such behavior?  Forgetfulness?  Naivety?  Excessive optimism?  Or could it just be a simple case of douchebaggery?
   





Friday, April 19, 2013

Rudy Pleads Guity

Rudolph M. Coenen, 47, pleaded to one count of conspiracy to commit wire fraud, one count of wire fraud and five counts of money laundering. His sentencing is scheduled for Aug. 12.

Coenen and three other men promoted Iraqi dinar as having the potential to rocket in value once a reevaluation of the currency took place. They said the investments were protected by the U.S. government.

In addition to the sale of dinar, the conspiracy marketed seats on two non-existent hedge funds that were going to control dinar investments after the currency was revalued.

Coenen was presented to investors as a wounded Iraqi veteran who had deep knowledge of dinar trading and was a former vice president at JP Morgan Chase.

In the plea, Coenen admitted he was not a former Marine who served in the first Gulf War, he had not been wounded in combat and he was never awarded a Purple Heart.

He operated a business known as Bayshore Capital Investments to collect funds related to the non-existent hedge funds.
Approximately $722,000 was solicited from prospective investors, according to court documents.

Three Ohio men, Bradford Huebner, Charles Emmenecker, and Michael Teadt, are awaiting trial in the U.S. District Court in Ohio.

http://jacksonville.com/news/crime/2013-04-19/story/jacksonville-man-pleads-guilty-ohio-conspiracy-iraqi-dinar-case





A Florida man who was indicted with three Toledo-area men in a scheme to defraud investors in the sale of Iraqi currency and phony hedge funds pleaded guilty Thursday in U.S. District Court, Toledo.
Rudolph M. Coenen, 47, of Jacksonville pleaded guilty to conspiracy to commit wire fraud, wire fraud, and five counts of money laundering before Judge Jack Zouhary. A sentencing date was not scheduled.
Coenen, owner of Bayshore Capital Investments LLC in Jacksonville, admitted to a conspiracy with Bradford L. Huebner, owner of BH Group, 17 N. St. Clair St., and two BH employees to defraud investors through the sale of Iraqi dinar currency and “placements” in two nonexistent hedge funds.
Prosecutors said about $722,415 was solicited from prospective investors.
Charges are pending in federal court against Mr. Huebner, 65, of Ottawa Hills; Charles N. Emmenecker, 65, of Sylvania, and Michael L. Teadt, 66, of Maumee.

http://www.toledoblade.com/Courts/2013/04/20/Fla-man-guilty-of-conspiracy-to-defraud-investors.html#wm2xF1AWSYxX3yKh.99




--------------------------------




I think this would be as good a time as any to remind people of what the indictment says.  On page 3 we read:

7. The term "revaluation" (casually shortened to "RV" in dinar-sales parlance), refers to the contention that at some point in the near future, the dinar will rise against the U.S. dollar, a circumstance which will enrich earlier purchasers of the dinar.  BRADFORD HUEBNER, CHARLES EMMENECKER, RUDOLPH COENEN and MICHAEL TEADT repeatedly advanced claims to potential investors over the telephone, through web pages, and through a weekly internet conference call that even relatively small investors in the dinar would, following the "revaluation" or "RV", become wealthy overnight.

8. A "redenomination" of the dinar refers to an actual proposal by the Central Bank of Iraq, announced as recently as June 21, 2011, to re-print the currency to remove three zeroes from the physical dinar banknotes as a matter of convenience.  A redenomination of the Iraqi currency would not lead to a revaluation by the same amount, and may have no effect on the currency's value.  Under a redenomination, a new currency replaces an old currency, but the value remains the same.  Under the proposed redenomination, the Iraqi government would issue a new dinar note that will be equivalent to 1000 current dinars.  The exchange rate would be 1.17 new dinars to the dollar, equivalent to 1,170 current dinars to the dollar.



And then on page 5 we read:

15. "... the U.S. Department of the Treasury does not hold any Iraq dinar for investment purposes and holds only a nominal amount for use in daily transactions."  

16. "... the U.S. Department of the Treasury is not involved in any aspect of dinar exchange nor is it planned for the Department of the Treasury to be involved in redeeming or exchanging dinar following a redenomination, should a redenomination occur."


http://www.realscam.com/attachments/f12/1576d1348185792-bayshore-capital-investments-bh-group-bhgroup_indictment.pdf



Dinar speculators have been told for years that the currency reform plan (the "Delete the Zeros" project) is an RV and that the U.S. Treasury holds trillions of dinar that will be used to pay down the debt following "The RV".  Here we have a federal document that exposes these lies for what they are.


 

Tuesday, April 9, 2013

Stryker

I've been hearing a lot about this new guru Stryker recently, so I decided that I would watch some of his videos and see what he's all about.  Well so far I'm underwhelmed.  Talk about scatterbrained!  The guy can't seem to finish a sentence and spends half his time looking for a document he wants to reference, reading emails, or tweaking his audio settings.  I think Stryker really needs to get focused and concentrate.



Stryker seems to have trouble reading and doesn't really seem to understand most of what he's talking about.  I had a hard time following him but I think the gist of what he's saying is that Iraq is gonna RV but he doesn't give rates and dates.  One thing he did make clear is that Dinar Corp is a sponsor of his presentations.  Like Breitling and Adam Montana he claims to be an entrepreuner but unlike those two he tells you who he is.  His name is Steve Sanderson from Plano, Texas


Among the things I've heard him say so far:
  • Shabibi said that the dinar would be the most valuable currency in the world.  (Link please?  I believe what he said is that it would be the strongest in the region, meaning it's backed 100% by their foreign currency reserves.)
  • The dinar is currenlty on a crawling peg.  (According to the IMF it was only a crawling peg from 11/1/2006 - 1/1/2009 and is now fixed as per the CBI's stabilization policy.)
  • There are too many articles about low liquidity of the dinar to believe the CBI's financial statement.  (So we should trust yet another guru offering his views on how to interpret Iraqi news articles translated from Arabic rather than the official numbers from the CBI .... GOT IT!)
  • This investment is soooo confusing ... we need him to explain it to us.  (Actually it's only confusing if you believe in the big RV myth, because you have to go through a series of mental contortions and gymnastics to explain how this once in a lifetime event is even possible.  If you believe that the CBI's plan is a redenomination it's pretty simple.  Too many dinar in circulation and too many zeros on the currency.  They need to reduce the money supply from trillions to billions.  You can't do that without raising the value by about 100,000%, and raising the value of the IQD that much would prove disastrous so the only solution is a lop.  Swap out the old for the new at a higher value.  Problem solved!)
To his credit Stryker seems to have figured out a way to draw in thousands of people with his almost daily WebTV broadcasts.  Like Breitling, what he lacks in eloquence and coherence he makes up for in marketing savvy.  Also like Breitling, he isn't beyond mixing it up with his detractors.
Steve "Stryker" Sanderson
In one video he took a shot at keepmwlknfny from Dinar Vets whom I interviewed a while back.  I think keepmwlknfny is one of the most level headed dinar investors I've ever come across, but Stryker doesn't like him because he called Stryker a guru and brushed off his excitement over some laws being passed in Iraq that were supposed to prove that an RV is coming.  High Five, keepmwlknfny!

In another video he offered to debate any lopper that accepts his challenge.  I relayed that info to a few people so hopefully we'll have a public debate on the issue soon. 

In his April 7 video he's promoting yet another money making scheme - a MLM energy business called Ambit.  This leads me to conclude that he's probably just another guy jumping on the dinar guru bandwagon, presenting himself as an authority so that he can make a few bucks off of dinar investors.  I've mentioned before that the worlds of MLM, penny stocks, and currency speculation are crawling with scammers.   Stryker might be an exception to that but from what I've seen so far it doesn't look good.



4/13/13 ...  UPDATE!!! ... Stryker responds to my comments.   He says he has difficulty reading because of dyslexia and that I shouldn't make fun of him.  Actually I wasn't making fun.  I was just making an observation, that he seems to have trouble reading which he just confirmed.  I did poke fun at him for rambling and tweaking his audio and looking for documents during his broadcasts but that has nothing to do with dyslexia.  I also said that he doesn't seem to understand what he's talking about, and I stand by that statement based on his comments listed above.  He also seems to think that the CBI's currency reform plan isn't a redenomination when we have a federal document stating that it is. 

http://www.realscam.com/attachments/f12/1576d1348185792-bayshore-capital-investments-bh-group-bhgroup_indictment.pdf (page 3, points 7 & 8)


By the way, it's difficult to find anything negative about Ambit because apparently their marketing strategy is to have their associates flood the search engines with wonderful things to say about the company and push the complaints to the rear.  But here they are.

http://www.complaintsboard.com/complaints/ambit-energy-c81141.htmlhttp://www.complaintsboard.com/complaints/ambit-energy-c81141.html

  



Monday, April 1, 2013

April Fool!

In case you haven't already figured it out that last post was a gag.  In fact, I have gathered even more evidence of douchebaggery on the part of these clowns.  First, let me tell you about a financial publisher named Porter Stansberry.  This is a man who puts out newletters and videos from time to time that offer tips on how to make huge profits from his inside information and insights.  In a recent investment tip video he predicts that President Obama will either serve a third term himself or his wife Michelle will serve in his place.  He also claimed that Obama will:
  • Greatly increase the size of the Fed's quantitative easing, leading to massive increases to inflation.
  • Seize control of the entire 401k retirement system, forcing Americans to buy more of our government's risky debt.
  • Implement vast new taxes across our economy, as they have already done with the health care program and which they will do next by implementing a national sales tax.
  • Continue to expand the welfare rolls by record amounts, buying still more votes, more power and setting the stage for a third Obama term
  • Reshape our foreign policy, drawing America into partnerships with dictators and socialists around the world. 

He then shared this:

"One of the things I haven't told you yet is how and why I know so much about the shale gas opportunity in America today.

After all, I'm a global financial publisher… not an oil man.

Well, the truth is, I first learned about this huge opportunity in America, from my good friend Cactus. Unlike me, Cactus is from Texas. He's a real wildcatter, who has made his living for the past 30 years finding oil in the ground. Although I know a lot of experts close to shale oil, Cactus is hands down my best source for information.

He spends all his time in the oil fields, and knows the top people in the industry.

Cactus began telling me about the opportunity in shale oil and gas about 8 years ago, when we first met on a high-end fishing trip in Panama. Since then, I've had dozens of meetings, conversations, and trips with Cactus. I fly him in to my most important meetings every year. We go hunting together, and we've become close friends.

Cactus has been able to make a sizable fortune with shale gas and oil plays in recent years.

But here's the really interesting thing he told me recently…

What very few people in the investment world know right now is that there's about to be a major new shale play that's only now being staked out by the major independent oil companies in the U.S.

Based on information I have from Cactus and other industry insiders, it appears this new field could become the largest oilfield in the U.S. over the next 20 years with 35 billion barrels of recoverable oil."



As I read about his wildcatter friend from Texas named Cactus I couldn't help but think about Okie Oilman and his inside information on the RV of the dinar. Am I imagining things or is there an amazing similarity here?  He went on to predict a coming oil boom in 2015 that will create a rare bonanza of profits for savvy investors who pay only $49.50 for a one year subscription to his newsletter.

Well you don't have to search for very long to find reports that Stansberry was ordered by the SEC to pay a $1.5 million fine for defrauding investors.  Channel4Updates.com did a story about this guy in which they stated:

"Porter Stansberry published a series of informative newsletters, in which he claimed to reveal insider tips for investors looking to make some serious cash. In this report, Porter Stansberry claimed that the government would soon negotiate a new pricing scale with the USEC (as he was secretly informed by a high-ranking government official), and that purchasers of his newsletter could cash in big if they followed his advice. About 1,700 bought into the scam, purchasing the newsletter for $1000 each! The problem was that Porter Stansberry had completely invented the "insider information" he claimed to be sharing with those unfortunate enough to purchase his newsletter.

In 2011, Porter Stansberry released a very grim, 77 minute long video called "The End of America".  In infomercial format, this video illustrates the certain collapse of the American economy (as Porter Stansberry would have you believe), and also outlines specific steps that you need to take - NOW - if you are to protect your financial well being. And what, according to Porter Stansberry, must you do? It's quite simple: get his booklet of off-shore investment advice, and his book entitled "The Gold Investor's Bible" and his report "The Secrets of Silver Investing".  All of these you get for FREE . . . when you pay fifty dollars to sign up for his newsletter. See where this is going?

In spite of the bad publicity surrounding his name, Porter Stansberry continues to bilk the American public. Are you falling for it?"

Now, to my knowledge Stansberry has never promoted the dinar in his investment letter, so why am I talking about him?  Very simple.  His ad ran on Dinar Daddy recently. 



I was snooping around dinar sites the other day and came across this while reading TerryK's lame account on why his latest intel failed.  I circled the ad/link to the promotion in red and left the URL in the lower left for verification.  Just a little reminder about the caliber of people we're dealing with in the dinar community.



On Randy Koonce's March 21 call we were told that he expects to see Shabibi back at the CBI and the RV by the end of March.  So far - NADA!  In that same call Randy claimed that Dick Cheney and Bremer set up the Kuwaiti RV for Bush Sr., that the RV was supposed to happen in 2010, that every country who is owed money by Iraq owns dinar and will be paid back with the RV, and that the dollar will strengthen after the RV because we'll pay down the debt. He went on to say that Uncle Sam says they have about 4 - 4.5 trillion dinar.  Randy has stated before that the US holds 3.5 trillion dinar.  For his sake I hope he's not suggesting here that the US Treasury holds trillions of dinar.  This is the kind of thing that got Brad Huebner and Rudy Coenen indicted for fraud.  Randy seems like such a nice guy.  I'd sure hate to see him doing a perp walk like those bozos did.     




On March 18 Frank Villa (aka Frank26) did some commentary on an article entitled Parliamentary Finance: do not oppose the project to delete zeros from the currency. The article is talking about the currency reform plan that the CBI has proposed for the last three years. This plan is what we call in the dinar world a "lop". The plan is to remove three zeros from the current value of $.00086, issue a new currency at the new value of $.86, and gradually remove and demonetize the dinar currently in use. This is also addressed in the indictment of Brad and Rudy in the case for fraud, where it states that they misrepresented the CBI's proposed redenomination as a revaluation that will make investors rich.
Frank Villa

What Frank suggests in this call is that the article is talking about raising the value of the dinar in the sense of revaluation, not redenomination ... the same thing these other douchebags got busted for. Keep it up, Frank. I'd love to see your creepy mug in a perp walk photo. About 43 minutes in Frank says that both currencies will co-exist, which means that the 000 notes will still be in circulation even after they supposedly have increased in value 100,000% - 400,000% (according to his view.) Frank has stated many times that he believes the dinar will be "re-instated" to $3.86. So imagine for a moment people walking around in a dangerous country like Iraq carrying bills worth anywhere from $3,860 to $96,500. This of course is absurd. The 000 notes won't increase in value at all. They'll simply be replaced by the new notes without the 3 zeros. How about this Frank? Your 25K note worth $21.50 will still be worth $21.50 after they remove the zeros. You can spend it or use the new 25 note worth $21.50 because they will both be viable currencies as long as they co-exist. Which sounds more likely? Your scenario or mine?

The indictment's fraud case also clearly stated that the US Treasury won't have any involvement in exchanging IQD for USD. And yet Frank has repeatedly stated over the past six months that they would do exactly that. Most of these douches have wised up and tweaked their dog and pony shows so as to avoid indictment, but Frankie just keeps plowing along. I figure either this guy ain't too bright or he's an evil genius with a brilliant getaway strategy that he can execute on a moment's notice. However, after hearing him mention "creditors and debitors" (debtors), a decision to "demacrate" (demarcate) the border with Kuwait, his sincere hope that he doesn't sound "condensending" (condescending), and refer to John Kerry as "Kelly" I have to go with the former theory.

Later in the call (about 94 min. in) Regner (?) comes on and declares that we're going to have a global currency reset within the next month or two. 168 currencies around the world are being restructured. Some are revaluing and others are devaluing based on their assets. The new US dollar will be worth roughly $.50. There will be runs on stores, panic in the streets ...etc. This guy never says his real name, what his qualifications are, or how he is privy to this incredible information. He's just an anonymous expert that we're supposed to believe because like Frankie he's a Christian and he wouldn't lie.

This global reset nonsense has been bandied about since at least 2010 in the dinar community. There is no question that reforms are being implemented in the global financial world to rectify the problems that surfaced in 2008 and that led to the downturn in the economy. But there has never been any story from any reputable news outlet that reported a global reset like these douches are talking about. This is conspiracy nut rubbish being used to reel in more of the paranoid, gullible, inexperienced, and uneducated among us.

https://www.freeconferencecallhd.com/playback/?n=-17-65-67-17-65-67-17-65-67-17-65-6742-17-65-672551-17-65-6748-35-106-17-65-67-17-65-67-17-65-6771;0OTc3NDYwNjg=0



Also, there was an article March 24 that created quite a buzz in the dinar world.  It stated:

BAGHDAD/ obelisk: counting and Planning Minister Ali Shukri, Sunday, announced the World Bank to start implementing his plans to restructure the government banks Rafidain and Rasheed "It's an important step was waiting for Iraq to raise the value of the dinar."
Said Shukri for "obelisk", "The announcement of the World Bank to begin implementation of its plans to restructure the Rafidain Bank and Rasheed Bank government is an important step had been waiting Iraq," noting that "financial welcomed move the World Bank in this direction because this restructuring will ensure the country make the most of these institutions big human Bakdarathma and expertise accumulated by the cadres and joint coordination to guide these estimators. "
He added that "the Ministry of Finance confirmed that the plans will be the guarantor of restoring Iraqi dinar of his value economic between foreign currencies and this will be part of this plan," explaining that "the banking sector is suffering in general laziness around to institutions consumer is active in the financial sector the most traffic The boom in the economy in general. "
He pointed out that "the World Bank said the Iraqi side that lifted the value of the Iraqi dinar should be a priority as well as he needs to political stability in the country before everything."
Noteworthy that the second Gulf War led to a decline in the value of the Iraqi dinar in an unprecedented way to reach the Iraqi dinar to 0.144 U.S. dollars, which led to cripple the banking sector until the year


Of course the gurus all took a shot at interpreting this article, and naturally they all read RV into it.  Allow me to take a stab at it if I may.  First of all, the article isn't about the exchange rate.  It's about restructuring two prominent banks in Iraq - Rafidain and Rasheed.  What it sounds like they're saying is that they were going to delay the restructuring until the proposed redenomination takes place, which will increase the value of the dinar from $.00086 (current dinar) to $.86 (new dinar), but of course that's on hold awaiting approval from parliament.  The ministry of finance seems to think that restructuring these banks will help to expedite the redenomination, so rather than wait for the monetary change to occur they will try to hurry it along by changing their banking infrastructure.  The World Bank seems to want them to get this redenomination done, too.  But of course the instability of the country is an understandable obstacle.  The reference to a decline in value to 0.144 I believe is just a misprint of the former exchange rate of 1440 dinar to the dollar. 

See there?  No need to get too excited about this.  It's basically just another article mentioning the lop.   
   


Another article that the gurus pounced on was this:

Baghdad (news) .. Likely Vice-Chairman of the Finance Committee MP / coalition of Kurdish blocs / Ahmed Faizullah, the return of the Iraqi dinar exchange rate to its natural price against the U.S. dollar, the central bank requirement to take the necessary procedures and the use of international expertise to support the national currency.
Said Faizullah (of the Agency news): The country is suffering from floundering his policy monetary and economic terms that the money that goes out of the country for imports more than the money that comes to the country from oil sales, etc., in addition to there other funds wasted in various ways.
He added: that the central bank demands take its necessary measures to recover the value of the Iraqi dinar to its natural price against the U.S. dollar, and the use of international expertise should benefit from the recommendations of the International Monetary Fund to support the national currency.

http://www.ikhnews.com/index.php?page=article&id=79593


Of course the pumpers insist that "natural rate" refers to $3.22 because that's what it was before the war.  Well they're partly right.  That's what it was before Desert Storm in 1991, but even then that was only what Saddam said it was.  The international community rejected that valuation.  But if you just read the context here it's talking about current conditions that have brought the value down (monetary and economic policy, trade deficit, waste ..etc.) rather than circumstances from 20 years ago.  I guess I have to remind these guys that the official value of the dinar has been very stable for four years now, so this has to be talking about the market rate within Iraq being affected by mismanagement.



On March 26 Blaino said:

"OK...WOWSER, LOOK AT THIS! 1 MILL VND @ $60 COST TIMES A (POSSIBLE) REVAL RATE OF $.478 = $478,000.00 OR IF DIVIDED BY THE $60 YOU SPENT TO GET THAT MILLION, A RETURN OF $7,966.00 FOR EACH $1.00 YOU ORIGINALLY CONVERTED TO VND OUT OF THE $60.00 YOU PAID FOR THE CURRENCY! THEN, WE LOOK AT IQD AT $3.42 REVAL (POSSIBLE)1 MILLION IQD AT SAY $1100.00 WOULD BECOME $3,420,000.00 DIVIDED BY THE $1100 YOU MAY HAVE SPENT (AN AVERAGE) EQUALS $3,109.00 FOR EACH DOLLAR OF THAT $1100.00 YOU CONVERTED. NOW YOU SEE WHY THE "FOLLOWER" (VND) COULD BECOME FAR AND AWAY THE "LEADER" IN RETURN PER ORIGINAL DOLLAR CONVERTED TO EACH CURRENCY ORIGINALLY. AT THESE RATES AND SCENARIOS, THE VND RETURNS $7,966.00 VERSUS THE IQD AT LESS THAN HALF THAT .... $3,109.00 :::::::::::::::::::: DO THE MATH!"

Sure, Blaino. If this scenario was realistic you might have a point. However Vietnam's recent policy is a gradual devaluation of the dong, not increasing it. And even if they wanted to increase it, they've got over 3 quadrillion in their M2. An RV to $.478 would increase their monetary base to about $1.5 quadrillion. LOL!!!! Yeah, right. And Iraq's policy is stability as I pointed out last month, but even if they wanted to increase it they couldn't bump it up more than a few % with (now) 77 trillion in their M2. An RV to $3.42 would expand their monetary base from about $70 billion to about $263 trillion. Not bloody likely, mate.



On March 27 Adam Montana said:

"What people sometimes fail to understand is that the since the Iraqi Dinar is pegged to the USD, and is therefore a fiat currency (not backed directly by anything with real value such as Gold), the actual value of the currency is a completely made up number. It's basically whatever they say it is, regardless of what does (or doesn't) support that value. If they want to say it's $3 - Boom! It's $3."

http://dinarvets.com/forums/index.php?/topic/144693-adams-wed-chat-3-27-2013/#ixzz2Omw6s1WH

Yeah, well Saddam tried that and it didn't work because he was spending their foreign currency reserves.  If it's going to be internationally traded then it has to be a rate that the international community deems appropriate, and at this point that would be a rate that is backed 100%  by their reserves.  So that pretty much leaves it around a tenth of a penny.  



And finally, in January I made some predictions for 2013.  Well the first quarter is over so let's see how I'm doing. 

  1. The value of the dinar will not increase by more than 10% in any given month or by 50% this year unless there's a lop. The same goes for the Vietnamese dong.  No movement on the dinar.  The dong has slightly decreased.  Looking good.   
  2. We will see another indictment of one or more of the douchebags I've written about in the past.  Nothing yet on this one, but I'm still hopeful. 
  3. Iraq's M2 will end the year at more than the current figure of 72 trillion unless they redenominate.  As it turns out it ended 2012 at 75.5 trillion, and January's M2 is tentatively showing 77.84 trillion, so without a trend reversal I'm good on this one. 
  4. Obama and Maliki will both end the year without being removed from office.  So far so good.
See you soon.



    


April Update

I have come across some amazing information recently that completely transformed my views on the dinar.  As difficult as this is I must now offer an apology to all of the people I've called douchebags and scammers over the course of this blog.  I now believe that the dinar will indeed RV, and soon.  I don't know the date or rate yet, but as soon as I have more details I'll be sure to pass them along.