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.
Sunday, August 25, 2013
A Blast from the Past
Last year one of my readers named F8 provided a link to a dinar site called RolClub where a pumper named shotgunsusie was saying the RV was done and the rate would go live by Oct. 1, 2006. A subsequent post mentioned a target of $1.68 for the revalue. Another member named rentonrolr provided a link to the financials at the CBI website and said that $1.68 was impossible given the (at that time) money supply of 10 trillion dinar in circulation with an M2 of 17 trillion. He was banned shortly thereafter. It's amazing to read this from seven years ago and see how little has changed. Sure, the numbers are different. The money supply has grown, there are hundreds of gurus now, dozens of dinar forums, and the dinar has gone up in value about 20% (due to the crawling peg policy from Nov. 2006 - Jan. 2009 that allowed them to get inflation under control) rather than the 250,000% increase Susie was pumping. But the basic argument of whether Iraq can RV to an amount that would provide a windfall to dinar investors hasn't changed, and of course people who point out inconvenient facts are still called names and banned from dinar forums. Reading through this thread was a real eye-opener.