In the dinar world many have yet to declare their independence from guru hype and have chosen instead to remain under the tyranny of the emotional roller coaster brought on by RV fantasies. Hopefully they'll catch on soon.
The removal of UN Chapter 7 sanctions caused quite a stir as most of the gurus viewed this is a direct precursor to the RV. As the days elapse it is becoming apparent to many that this was just more guru BS. The fact is the CBI has raised the value of the IQD several times through the years that those restrictions were in iplace. Chapter 7 had nothing to do with any RV or lack thereof.
One dinar dealer that I have written about named Marshall Wayne sent this notification out in a recent email.
"Today is a good day.
The UN Security Council voted to remove Iraq from Chapter 7 bankruptcy."
This is yet another example of why you don't want to listen to these guys. Why would the UNSC be dealing with the issue of bankruptcy? This isn't a US bankruptcy court. This is the UN Security Council that imposed restrictions on the use of Iraq's oil revenues following the Gulf War of 1990. Those restrictions have now been lifted which means that Iraq can use those oil revenues as they deem fit. However, it also means that other countries can come after Iraq for its debt obligations.
I think the logic behind some of the spin is that the $11 billion owed to Kuwait can only be paid via a substantial revaluation of the IQD, but I can assure you that Iraq isn't going to destroy their economy to pay off a debt that they could pay off over the next couple of years with increasing oil revenues.
Also in June another dinar douchebag was convicted. This time the charges were illegally operating a money service business, failure to report on exporting and importing monetary instruments, and unlawful structure of transactions to evade reporting requirements. Nice to see somebody else being held accountable.
http://www.justice.gov/usao/sd/pressreleases/RC-2013-05-30-Olmsted.html
About a year ago I quit awarding Douchies to the pumper/guru who did or said the most despicable thing for the week, but I reserved the right to issue Douchies on an ad hoc basis for future cases of dinar douchebaggery. Such is now the case with Eagle1, the RV/currency basket intel guy for Frank (Frank26) Villa. During the last week of June he offered this priceless explanation for the delay in the release of the basket of currencies.
"We were initially advised to watch for this release to take place Sunday Night/Monday Morning on FOREX, with a 24-hour delay before the currencies became tradable.
Obviously we saw nothing. We expected that the delay might have been pushed to Tuesday in order to comply with normal international banking policies, and in fact were told that might be the case.
All of you have heard about the NSA leaker issue in the news, the fact that he fled to China, and that both China and Russia have cooperated in hiding him or preventing the US from finding the young man's whereabouts.
Not in our wildest thinking did anyone consider that this event might have a bearing or interfere in any way with the release of these currencies.
Turns out that because of the administration's demands on China for the return of this individual, they decided to throw a temper tantrum and provide a short delay in the release process by fussing over the revaluation of the Vietnamese Dong."
Not in our wildest thinking did anyone consider that this event might have a bearing or interfere in any way with the release of these currencies.
Turns out that because of the administration's demands on China for the return of this individual, they decided to throw a temper tantrum and provide a short delay in the release process by fussing over the revaluation of the Vietnamese Dong."
I've heard some imaginative excuses before but this one takes the cake. The whole global reset currency basket story is absurd, and the idea that this "solution" to the world's economic woes could be held up by a dispute over the fate of Edward Snowden is beyond absurd. Even diehard believers in the RV were calling BS on this one. If there was ever any doubt that Frankie Frankie and his team are world class liars this should dispel it henceforth and forthwith.
Think about it folks. Dinar investors are wondering what the holdup is for the RV of the IQD that was introduced in 2004. Well the war in Vietnam ended nearly forty years ago and they haven't gotten around to RV'ing yet. Is that due to an incredibly long string of unforseen events, snags, glitches, and delays or could it possibly be that perhaps they don't intend to RV? Yeah, I think that's what it is. I think Vietnam has concluded that they can function just fine with a currency valued at $.000048 or whatever.
So congratulations to Eagle1 for winning the first Douchie of 2013. It was well deserved.
One man who has written and spoken out about the dinar scam is Jay Adkisson. He's the author of the August 2012 Forbes Magazine article entitled "You Can't Fix Stupid: The Iraqi Dinar Scam Lives". As you might imagine he took a lot of flack from hopeful dinarians for writing that, but he stood his ground. In fact he's gone beyond that, and is actually taunting his bashers a bit. He's been updating that post on a monthly basis since he wrote it. On May 31 he wrote:
Another month, and another month where the Dinar did not massively appreciate but more suckers bought into the scam thinking that it would. But we are starting to approach the one-year anniversary of the date that I wrote this article, after which I received numerous e-mails from folks telling me to basically, “Just wait, you’ll see! Within a few weeks I’ll be stinking rich and you’ll just be a sad commentator for Forbes.” Well, at least they got the stinking part right, and so now own to the monthly update:
(1) As mentioned, the Dinar did not massively appreciate.
(2) There are no signs that the Dinar will ever massively appreciate.
(3) I did see that I had missed this article on the Dinar by John Wasik – http://www.forbes.com/sites/johnwasik/2012/02/24/dinar-doubts-multiply/ John is more diplomatic that I am; he can call folks “stupid” without using that word. As for myself, I have no patience for people who can’t figure out that they were suckers.
(4) Self-Annointed “Dinar Guru” Blanche Bonet put out this “amazingly” list of Iraqi Dinar “experts” who predicted that the Dinar was about to soar in value – http://www.dinarguru.com/ Trouble is, they were all wrong. The list does pretty much prove, however, that the “Iraqi Dinar community” is just a bunch of suckers trying to convince each other that they made good investments. As just mentioned, the trouble is that they are all just wrong.
(5) This video posted on YouTube discussed predictions that the Iraqi Dinar was about to appreciate upwards on May 11, 2013 – http://www.youtube.com/watch?v=iunTQLI432w Those predictions were wrong.
(6) Meanwhile, back to the real world, news came out that the Iraqi government is struggling mightily to try to keep the Dinar from DEvaluation, i.e., going down in value – http://www.al-monitor.com/pulse/originals/2013/05/baghdad-hault-dinar-collapse.html In the words of Homer Simpson, “D’oh!”
(7) Yahoo Finance weighed in here – http://answers.yahoo.com/question/index?qid=20130507151558AASjt4B
(8) And finally, a new book has been released, “The Iraqi Dinar Scam: Why Buying The Dinar Is For Dummies” by John Jagerson at http://www.amazon.com/gp/product/B007Z9DFN8
Talk to you again on June 30, when the Iraqi dinar still will not have revalued upwards (but maybe has gone down, again).
I love this guy!
Taking a cue from Jay, back in January I made my own predictions for the dinar in 2013. Well, the year's half 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. So far the IQD is unchanged and the VND is slightly lower.
- We will see another indictment of one or more of the douchebags I've written about in the past. The conviction above was the result of an indictment from 2011 so technically no new indictments yet, but we have seen two convictions this year including Rudy who plead guilty in April.
- Iraq's M2 will end the year at more than the current figure of 72 trillion unless they redenominate. Last I checked it's around 78 trillion.
- Obama and Maliki will both end the year without being removed from office. Both have managed to survive physically and politically, although it hasn't been pretty for sure.
See you soon.
good post
ReplyDeleteHi Sam. Too bad you already awarded your douchie. I read last week that Tony (presumably the douchebag formerly known as TNT Tony) claimed that the RV was all set to go but it was called off at the last minute because banks didn't authorize the overtime for the tellers. How preposterous is that? How do you make something like that up with a straight face? How do douchebags like Tony and Frankie continue to have any subscribers with the ridiculous garbage they spew out every week? At what point in time do they lose credibility? For some people, it may be never. They live in a dream world and don't want to wake up from the dream. It boggles my mind. Anyway, another great article. Keep up the good work.
ReplyDeleteI'm tellin' ya man, I've thought for a long, long time that all these gurus are shaking their heads in amazement at just how stupid people really are.
DeleteI think any discussion of Douchies would be remiss without examining the latest disgusting cash grabs from our pals Adam Montana and Blaino.
ReplyDeleteFor days Adam says he's going to cut off VIP membership and then he doesn't, he just cuts off the "cheap" VIP memberships, forcing his brainwashed masses to cough up 400 bucks if they want to be a member of his useless VIP forum.
And Blaino, with his "Fulton Bonanza" where, for some unknown (and to my knowledge, unexplained) reason Blaino has found someone willing to pay $1+ for dinar, even though you can buy as many billions as you want at 1166. I saw a thread where 70+ people were asking for the email so they can get on board and pay their 4 dollar membership fee. I don't really feel sorry for those people though, if you're so desperate or stupid to believe in the Fulton Bonanza then you deserve what you get, tbh, and 4 bucks is small price to pay to have a small chance of indicating how gullible you might be, not that I expect anyone to learn any lessons at this point.
Hey this is the first time I have been here and read your articles and as an "investor" of 4 years I love how you roll! I have come to the conclusion a long time ago that this has been the most elaborate scam ever known to man, however, at the risk of sounding flaky I remain positive that the value will change one day in the future, it's just the same as I am positive I will win the lotto some time in the future too! Have you done an article on TerryK? I would love to read what you have to say about that dipshit!
ReplyDeleteYou're not alone, Nannee. For the first year of running this blog I held on to some dinar thinking that it could still double or triple in value. As for TerryK, I've given him a Douchie and listed him in my post The Pumpers, but I have spent more time on gurus that people actually listen to like Adam Montana, Breitling, Randy Koonce, Frank26 .... etc. You can read about TerryK by looking through my archives.
DeleteFor years the IQD mythology has included claiming Iraq's money supply was vastly smaller than stated (despite it being very much in line with what one would expect given the size of their economy). At some point is has morphed to admitting the money supply is huge (though usually, as here, they only state M0, not the 75T of M1) to claiming its irrelevant (and to think some are worried about the US printing dollars or that hyperinflation was what lead to Sadam's IQD exchanging at 3000:1). Following classic scam principles, when the mark starts to see through your lies, tell even bigger lies!
ReplyDeleteFrom Adam's 7/11/2013 chat:
11:14 AM [Saint] sxsess Hi Adam, my question: Do you trust Iraq's claim of 30 trillion IQD money supply? If this were true, do you see this being a problem as it pertains to an RV/RI? Thanks
11:15 AM [Adam Montana] sxsess, I'm glad you asked this question. I'd like to set something straight once and for all.
11:16 AM [Adam Montana] It DOES NOT MATTER. They can "say" their money supply or m1 or any other number is whatever they want to say it is, and it does not matter at all. The value of the IQD is ARBITRARY - it's made up. The value of the Iraqi Dinar is simply whatever the CBI says it is, just like the value of the USD is made up. We do not have enough "cash" or gold to back up our total "number" of dollars (including our debt), so how do we sustain the value of the USD? Because we SAY it is so.
11:17 AM [Adam Montana] I know that is going to confuse a lot of people, so here's your homework for the day - google "fiat money system". That concept, once you understand it, will change the way you view our monetary system and the way things work.
That's hilarious! Montana's statement ought to beg the response: well then why doesn't the US revalue the dollar then? Or why doesn't Brazil revalue the real? If currency values don't matter, if they have no impact on nations or economies why don't gov'ts just declare a higher value. Why doesn't the US just declare an arbitrarily higher value for the dollar? That's all it takes, right? Why is the world waiting on little ole Iraq to declare a higher value for the dinar? If poverty and misery and economic morass is solved with a revaluation, why are we waiting on Iraq to do it? Why doesn't Europe revalue the euro and solve Greece's problems? Why doesn't India revalue the rupee and rid itself of extreme poverty? That's all it takes according to Montana right? A simple decree by the gov't does the trick. Apparently the mindless followers at Dinar Vets can't ask the next logical question.
DeleteWhat a moron. Really Adam? What value do we "say" the USD is worth? Why doesn't it stay that value? Why does it go up and down? Why has it dropped in value so much against currencies like the AUD in the last decade?
DeleteIf we can say it's worth whatever we want, why is QE a bad thing? Why don't we just "print" 75 trillion USD, like Iraq has done, and then hand it all out to US citizens? Why stop at 75 trillion? Our economy is, what, over 100 times stronger than Iraqs? According to your logic, and some basic math (which you seem to have a lot of trouble with given the numbers in your rate manifesto), we should be able to print 7.5 quadrillion dollars and still have it worth what it is now (or at least 10 cents, gotta be reasonable, right Adam?). That'd be enough to give every man, woman, and child in the US 25 million dollars. Even if it devalued the USD to 1/10th what it's worth now, that's still 2.5 million worth of buying power.
If Iraq can say it's worth whatever they want, why 10 cents? Why not 10 dollars? Seems pretty stupid of Iraq to sell themselves so short, since they can say it's worth whatever they want and US Banks are for some reason forced to honor it (lol).
What I would honestly really love to see is for Maliki or some other crackpot really take over the country and actually tell the CBI to start telling the world that the IQD is worth 1 dollar each. No bank on the planet, including those in Iraq, would honor the rate (except for the crackpot dictator and his cronies). The howls of protest and dismay from the dinarians would be delicious, as they go to the banks with their printed out Reuters articles about the CBI stating they now have 75 trillion USD worth of currency, at 1 to 1. Every bank on the planet would laugh at them and refuse to exchange even a single bill.
In years past, culminating in 2011, SCADS of potential new suckers were getting turned onto the dinar and I think the handful of do-gooders trying to educate people about this SCAM (yes, it is a scam, no, I don't mean the currency itself) really did a lot of good and probably saved people from getting scammed out of a lot of money.
These days most of the people that are left on the dinar sites are just completely hopeless. Too ignorant or desperate or greedy or stupid to be possible to help, to be honest. The vast majority of them believe every single guru lie ever told, except the rate and date lies, and then they pat themselves on the back for being "down to earth" and "grounded" because they only think the IQD will be worth 10 cents or 1 USD, not 3.47 or 12+. It becomes pretty obvious that these people are hopeless, after seeing the 700th person ridicule the gurus for rate and date lies, and then in their very next post regurgitate different lies from the exact same gurus (e.g. deleting three zeros = RV, or how the UST is going to buy their dinar and hold it in reserve or exchange it for oil, or how George Bush said you know what, or how nominal value = exchange rate (that one really kills me, these are normal English words, look them up for cripes sake.)).
Oops, typo in the date above. That should have read "From Adam's 7/10 chat" i.e. the usual wed one which can be viewed here http://www.dinarvets.com/forums/index.php?/topic/154055-adams-official-chat-7-10-2013/
ReplyDeleteHahaha.........totally classic. No one knows better that Montana is full of crap than Montana himself. He is nothing more than a dinar pimp taking advantage of ignorant people and making money doing it because he can. He knows all the right things to say and knows his sheep are void of the common sense required to see through his lies. Ever since they were told that the dinar was going to make them overnight millionaires they have been easily swayed by economic nonsense spewed by internet con men like Montana.
ReplyDeleteWhat I still can't figure out is why everyone keeps talking about a nonexistent event likes its a real thing. The RV this, the RV that, Iraq will RV, what's holding up the the RV, chapter VII and the RV and on and on. When is someone other than me going to ask WTF they are talking about? Have any of them even stopped to ask themselves if any other country has ever attempted one? Where did the notion even come from that "RVs" are real. I guess if a lie is spouted off enough it becomes truth.
Hello, I just found your blog today. I am a dinar holder and also have dinar on layaway with Sterling. I have some legitimate questions, like if it is all a scam, why is Wells Fargo and other banks involved? Won't Iraq have to have a tradable currency now that they are out of Chapter 7?
ReplyDeleteNo one likes to be played for the fool, so I am looking for non-snarky (you are stupid) answers.
Thanks
Hi tn4336. Welcome to the blog. Your first question is based on a misconception I'm afraid. To my knowledge no banks are currently handling dinar. You might want to call Wells Fargo and verify your assumption. The scam isn't the currency itself, but on the unrealistic potential stated by gurus and pumpers. The IQD will likely never be worth much more than it is now, and will be completely worthless if Iraq redenominates as they've stated they will. As for your second question, Iraq can have a tradable currency at the current valuation just as South Korea's currency is tradable at a tenth of a penny. Revaluation isn't necessary.
DeleteIt's okay that you have questions. Most of us were new and had questions like this early on. Don't worry about snarky answers. I've got the comments on moderation and I'll make sure my readers behave. ;-)
I would disagree a bit with (or perhaps just expand upon) what Sam said about an redenomination. It is possible that Iraq could RD and prevent any currency coming in from outside the country, but I don't think it is likely (but it IS possible). I also think it is likely that there will be a long exchange period (a year or two). At the end of that period the current iQD might be worthless, or you might be able to exchange them for a long time but likely only in Iraq (like you can still exchange some pre-euro currencies but you have to go to a major bank in that country usually). So even if you IQD don't become literally worthless, exchange will be difficult maybe very difficult and hence have a big spread if you use a dealer to do it for you.
DeleteEven during the easy exchange period (of a year or so), the problem is that once it RDs the demand by the RV crowd will dry up, so now to exchange to dollars or newIQD the dealers will only be paying the official rate they can get in Iraq minus their spread not the rate they can get from the RV hopeful minus their spread. That means you might only get $600 per million (maybe less) and that is likely a lot less than you paid. So you might consider that a smaller loss now is bette than a bigger loss later. I bought into the myth 2 or 3 years ago and soon after came to my senses and sold for about a 10% loss. I sold to individuals and even clearly told each one that this was a huge mistake and an RV is impossible, and they bought anyway.
The issues about a "tradable currency" is also just part of the pumper mythology. There is nothing from a legal perspective preventing trade from occurring in IQD today. Four or five yeas ago some banks in the US did offer it and that was while Iraq was fully under Chapter 7 sanctions. But Iraq does not produce anything to buy in dinars so no one has any need for them (other than this scam). Iraqi's are perfectly happy to accept dollars as well of course (as is the case in many parts of the world). If Iraq manages to avoid falling back into civil war, and their economy keeps growing, maybe in 20 or 30 years they will have an economy not entirely, though still largely, based on oil and then some international trade in IQD would naturally occur. But even if that bright future comes to pass, it implies nothing about the exchange rate going up.
The exchange rate of a pegged currency is dominated by the ratio between the money supply and their reserves. That's it.
Hi tn4336. As Sam said, the scam isn't the fact you can buy Dinar outside of Iraq, it's the deliberate mis-selling of it as a mathematically impossible get-rich-quick scheme on the back of a pack of lies by "guru's" who twist a simple value-neutral redenomination into some "magic bean" "million dollars for nothing" scam.
DeleteA good analogy is stocks - it's legal to buy and sell them. But it's not legal to sell stocks them with a "guaranteed 1,000x return" pseudo-promise mixed in with a bunch of bogus factually incorrect conspiracy theories (that change week by week) as to why the "1,000x return stock RV" hasn't occurred "this week" because it's being "held up" by [insert 1,000x different boogeymen here]. Another analogy is insurance - it's legal to sell insurance - but it's not legal to mis-sell it via gross misrepresentation of the insured value (ie, "of course we'll given you $1m cash if your $1k Home Cinema system blows up"...)
The old chestnut "If you can buy Dinar then it can't be a scam" is simply a gross mis-representation of a gross mis-representation (a giant straw-man), and is about as valid as saying "If you can buy motor insurance, then conmen who engage in motor insurance fraud can't possibly exist". Owning and mis-selling are two completely separate issues. Same with the "I'm registered as a Money Service Business status so I'm the real deal" nonsense - all that has to do with is required money laundering regulations - it doesn't mean they're telling the truth about their made-up "intel" or have any Forex experience. Any cowboy can fill in an MSB form.
As for Wells Fargo - that's just more grotesque twisting of the truth. They'll start trading the Dinar when everyone else does, but that has zero impact on its value in the "RV" sense because until they redenominate, Iraq will continue to have almost 80tn (80,000bn) Dinar in circulation with only $65bn or so currency reserves to back it internationally (hence the 1200:1 real exchange rate). Compare that to Kuwait's 30 billion) KWD circulation to see the obvious "elephant in the room".
In fact, here's what Wells Fargo have actually said about the Dinar in their own words:-
"Considering the illiquidity and fraud risk, Wells Fargo Bank has no plans to trade in the Iraqi currency, and considering that Iraq remains a dangerous place with an uncertain future, we strongly advise investors against taking the risk of buying Iraqi dinar as an investment. If you’re considering such a purchase, ask if the dealers will guarantee to buy back the currency, how they will peg the price and how much they will charge. Then ask a fiduciary financial advisor such as a certified financial planner, chartered financial analyst, lawyer or accountant if such an arrangement makes sense for you. It may not be worth your time and consume every dime — or dinar — you’ve invested."
http://www.forbes.com/sites/johnwasik/2012/02/24/dinar-doubts-multiply/2/
Of course, Dinar "RV" pumpers and rumor-forum addicts will selectively snip this out of their "secret Intel reports" precisely because despite their claims, many Dinar "RV" sellers do not want to give refunds as the only money to be made is on taking a 20% cut in selling Dinar and buying Dollars on the back of manufactured hype, not buying or holding Dinar! In fact they do the exact opposite and openly lie to their customers about refunds.
John - I don't disagree with what you said. My point was that a redenomination will eventually result in a worthless IQD, whatever the timeframe is. The details about how difficult exchanging them will be is still debatable. From what I've read you'll have two years to use the IQD for purchases and ten years to exchange at banks.
Deletetn-Sorry you got suckered into this scam. Unfortunately, many of us did. Kudos to you for sniffing out the other side of the story. The whole idea of a "tradeable currency" is bunk. If a currency is issued by the gov't, it is "tradeable". The problem is that there is really nothing to trade it for, unless you're in the country (except for the US dollar). But that's not unique to Iraq. Most currencies can't be used except for purchases in the country. You can't buy groceries at your local store with dinar, euros or yen. They want dollars. And the vast majority of international trade is settled in US dollars. When China manufactures a bunch of cheap coffee cups, they sell them to an importer for US dollars. When Iraq produces a bunch of oil and sells it, it receives US dollars. If it turns around buys a bunch of wheat from farmers in the Ukraine, it will pay for that wheat with US dollars. None of that will change, regardless of the exchange rate. So the dinar is as "tradeable" as any other currency. Nothing about the exchange rate makes a currency more "tradeable". The Iraqi dinar has nearly the same exchange rate as the South Korean won and South Korea has no problems trading with the rest of the world. In fact, if these clowns were telling you the truth, they would tell you that a stronger currency is bad for a nation's economy. It makes their products and exports more expensive for the rest of the world. Don't believe the garbage these clowns spew. You'll be a lot less aggravated for it.
DeleteNetworth you are correct about South Korea and Iraq's current exchange rate. They is roughly 100 pips / point separation. That being said, South Korea has a stronger economy and trading partners than North Korea yet N. Korea has a higher exchange rate against the USD. So you yes, just because the economy is doing better doesn't necessarily mean that the currency exchange rate will be higher or proportionately because this is just one example. Good point on your part.
DeleteHey tn4336,
ReplyDeleteLike I said earlier, the bottom line is that there is no such thing as "RVs". If you disagree or any of the pumpers telling you differently disagree then just ask them to show you one. They wont because they cant. The term RV is used in economics to describe slight increases in exchange rates towards the positive usually percents of a percent not 100s or 1000s of percent. There is no such thing as currency value increase such as that. Its all made up to con people into buying dinar at ridiculously marked up prices. Like was already pointed out in this section, if RVs were a real thing then why do all countries not do them? Pumpers are good at pretending like Iraq is special but its all nonsense. Iraq has a GDP of around 150 billion a year. That is an absolute joke in the economic global picture. The US has a GDP of I think around 14 trillion. So why cant the US "RV" the dollar? The answer is because there is no such thing. If there was then countries around the world would have been doing it since the beginning of time. It all comes down to the amount in circulation in relation to how much you can back it. To put it in perspective, Iraq has an estimated 20 trillion US dollars worth of oil in the ground and over 75 trillion IQD in existence, so ask yourself, how is the IQD going to become worth a dollar a piece overnight especially since oil in the ground cannot be used to back a currency. Again if it could then the dollar should skyrocket because the US has more oil in the ground than Iraq.
Just look to history, economics, and common sense and you will quickly see that the IQD has no chance of EVER gaining enough value for any holders to see profit after dealer rip off spreads. It will redenominate or continue in a hyperinflated state forever. There is nothing else.
Its funny (in a sad and pathetic sort of way) how after Montana seeds the idea that the money supply is irrelevant for a fiat currency, that now his sheep are all busily repeating and reinforcing that mantra to each other in post after post.
ReplyDeleteIf Iraq ever does officially announce their RD and get a new currency code etc, then watch Montana and his fellow scammers come out with something like "well now we know the speculation for 1000x is lost, but now we are ever more certain to get 3x, so it just means you have to buy more dinar!". The lies will get bigger and bigger until it finally collapses. Even then the faithful will likely see it that "It could have RVed but TPTB would not allow the little guy to get rich".
I've made a point of saying that nobody will get rich by holding the IQD. I even made a prediction at the start of the year to show how certain I am. I'm doing everything I can to hold these douchebags accountable when the RD comes. I will be able to say "no, it didn't just turn out this way .... they told you all along what they would do and these douches lied to you". I think these guys figured that if Iraq lops they will just use some lame excuse as you suggested, but they didn't count on blogs like this one recording what they said and what the CBI has been saying. Judgment day is coming.
DeleteI with you there. In addition to the faithful that keep the faith and no matter what view it as the RV that could have been, I had considered that there might be another group of deluded followers that turns into angry victims. Its not clear how well the fine print of "I am not a financial advisor" will protect those that are knowing making clearly false statements.
Delete