Addressing the hype surrounding the Iraqi dinar to prevent more people from being misled about this investment. We will be updating this blog periodically so please join to be notified about the updates.
Tuesday, April 9, 2013
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.
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.
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.