- 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.
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.
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.
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."
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.
- 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.
- 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.
- 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.
- Obama and Maliki will both end the year without being removed from office. So far so good.
See you soon.