"I will stake my reputation on the fact that 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. I also predict that we will see another indictment of one or more of the douchebags I've written about in the past. I predict that Iraq's M2 will end the year at more than the current figure of 72 trillion unless they redenominate. And finally, I predict that Obama and Maliki will both end the year without being removed from office."
Well the third quarter of the year has passed and the dinar's value hasn't changed. The dong (VND) has depreciated from 20,820:$1 to 21,125:$1. To my knowledge none of the douchebags that I have written about in the past have been indicted this year, although I've heard rumours to that effect. I'm starting to sweat that one a bit. The M2 has grown from about 75 trillion at the start of the year to a tentative figure of about 84 trillion in July. And both Obama and Maliki are still in office, like it or not. We'll take another look at all of this in three months to see how my predictions held up.
The first week of September saw an on-air meltdown by Phoenix as he agonized over the Obama administration's apparent determination to conduct a military strike against Syria. He stated that if he were to tell us the truth he would be arrested. I strongly doubt that the men in black are concerned about Phoenix Rising radio. I actually think there's some merit to what he had to say on this issue. Maybe if he hadn't spent the last two years interviewing psychics and talking about comets, electro-magnetic pulse, earthquakes, the Mayan calendar, and the impending revaluation of the Iraqi dinar more people would take him serious.
Also in the first week Forbes Magazine did yet another feature on the dinar scam called "Inside the Dubious Dinar Revaluation Ruse".
Breitling referred to the article's author John Wasik as a "knucklehead with no credibility and no accountability". Well here's this knucklehead's bio.
 |
| John Wasik |
He's also appeared on NBC, NPR, PBS, CNBC, MSNBC, CNN, CNNfn, Bloomberg TV and radio and on hundreds of TV and radio stations across the country. He earned his B.A. (psychology) and M.A. (communications) from the University of Illinois-Chicago and resides north of Chicago with his wife and two daughters.
As former special projects editor for Consumers Digest magazine, he has won 18 awards for his columns and investigative reporting, including the National Press Club award for Consumer Journalism. He has spoken at the New York Money Show, the National Home Center Show and the University of Chicago Business School. He is also a popular lecturer on investing at the University of Chicago's Graham School.
Wasik also has contributed to Reader's Digest, The New York Times, Bloomberg News, Fortune.com, Morningstar.com, AARP Magazine/Bulletin, eFinancial Careers, Minyanville, Modern Maturity, Parade, Smart Money, Popular Science, Health, Kiplinger's Personal Finance, Barron's, The Chicago Tribune and newspapers across North America.
His books include:
- The Audacity of Help
- The Cul-de-Sac Syndrome
- iMoney
- The Merchant of Power (2006)
- The Bear-Proof Investor (Owl, 2002)
- The Kitchen-Table Investor (Holt, 2001)
- Retire Early and Live the Life You Want Now (Holt, 2000)
- The Late-Start Investor (Holt, 1999)
- The Green Company Resource Guide (NCI, 1997)
- The Investment Club Book (Warner, 1996)
- Green Marketing & Management: A Global Perspective (Blackwell, 1996)
- The Green Supermarket Shopping Guide (Warner, 1995)
- The Electronic Business Information Sourcebook (Wiley, 1987)
As for Breitling, you probably won't find his bio on the internet but here's what he has claimed in his YouTube videos.
"Breitling has claimed to be a private pilot, a banker, and a professional investor who knows people at J.P. Morgan Chase and Citigroup, guys who make $7 million a year on Forex, and people in the military who made a fortune on the Kuwaiti dinar. He claims that he has worked as a corporate recruiter, a video game developer, an investigator for the Justice Department, a political consultant, a real estate consultant, and a network consultant who worked with people at Southern California Edison. Additionally he says that he has been involved in manufacturing in China, in writing PPMs (Private Placement Memorandums for raising venture capital), and in developing dental equipment for Latin America. B also says that he and his business associates have their own Delarue machine, that he has had cars like a Lamborghini., and that he just bought a race boat that he never even takes out. He also claims that he has contacts in the IMF, the UN, and the US Senate."
I documented all of this in The Breitling Catalog. Now who's the knucklehead with no credibility?
The fact is John Wasik is a very respected journalist for a very reputable news organization, reaching hundreds of thousands of readers. As an employee of Reuters he has both credibility and accountability, and John has been writing about financial matters for many years to establish himself as an authority on the topic. He has seen scams come and go and he knows what he's talking about. Gurus like Breitling, on the other hand, are almost always wrong about almost everything and yet with the exception of Rudy Coenen never seem to be held accountable. Well in the words of Susan Boyle, "here's hoping that will change".
Also in September some douche named Dave Schmidt did a post called "So Who Wants to be a Millionaire?" at a site called Golden Age of Gaia that made its way over to Dinar Recaps. This post has Dave telling us that 198 currencies are about to be reset, even though there aren't that many currencies in the world. He claims to be a former state senator although he didn't mention in which state he served. He went on to claim that Vietnam would back the dong with rice. I kid you not.
I did a little digging (yeah I know .... what are the odds?) and found a state senator by that name in the state of Washington who apparently got himself into some trouble a while back. Could this be our new dinar guru Dave? I'm thinking it just might be. http://ullala.wordpress.com/2012/05/31/dave-schmidt-are-you-ready-for-the-change/
Until next time.
-Sam
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Guess who does a ton of conference calls? Did you guess Kaperoni? No one, NO ONE, spends 10-15 hours a day, three to five days a week on this scam and NOT get paid. Do they Michael?
ReplyDeleteOne of the more ridiculous statements ever made was when not-so-Breitling claimed “the loppers have ignored the intent to reduce the money supply and issue a new currency”.
ReplyDeleteWow, I'd never heard that one before. It takes a special kind of stupid to say something that moronic.
DeletePainting reality as you like it by just making matter of fact statements that are in fact lies, is a time tested method of those wishing to convince you of something that is not true (whether a politician, corporation, guru, or dinar-beliver drunk on koolaid.). I am particularly amused by the claim that a rising economy leads to a rising exchange rate which seems quite popular these days. Its hard to imagine a more easily disproved assertion yet it continues to make the rounds in Dinarland.
ReplyDeleteMahma Khalil Member of the Iraqi Parliament and official spokesperson of the Economic Committee says an agreement has been reached about the mechanisms of introducing the new banknotes after a series of meetings and discussions with the CBI Governor Dr. Sinan Al Shibibi.
ReplyDeleteHe added the exchange rate between the new banknotes and the old ones would be 1:1,000
yes Dr. Sinan Al Shibibi is not the gov of the cbi anymore but Abdul Basit Turki Saeed is
his take on the dinar is to Redenominate aka delete three zeros on the iraqi currency
http://goo.gl/B8VBsH
One of the things that kills me is people talking about how much they've "learned" from people like Breitling and Kraperoni and Montana. Yesterday on DV someone was saying how they've learned from both sides, learned things from guys like Dinarck and Keep but have also learned the opposing viewpoint from guys like Krap and Montant and Breitling.
ReplyDeleteOf course, the punchline is that what they learn from Dinarck and Keep are facts that are pretty easily verifiable through legitimate sources (the CBI, basic economic theory, other countries that have RDd, etc) and what they "learn" from guys like Breitling and Montana and Krap are flat out lies that aren't verifiable anywhere and completely fall apart once you apply even a modicum of common sense or research to them.
But they don't care. Most of the hardcore true believers these days believe some anonymous idiot with a youtube account is just as credible (actually, more credible) than someone that has spent their entire life studying and educating themselves on economics and investing (e.g. J.J.). It's no coincidence that conspiracy theories of every stripe are one of the most discussed things on DV these days.
Couple questions, based off the Wasik article and comments made on same:
1. It was said that it's okay to sell dinar, as long as you don't lie about it (true, of course, people need foreign currencies). Also said that it's okay to lie about dinar, as long as you don't sell it (true also, as far as I know, though I don't really agree with it). But the people lying about dinar are being paid by the people that are selling dinar. In some cases this is through an intermediary, such as Google ads, but in many cases I don't even think there's that degree of separation, I think they're being paid directly by the sellers.
Is this really legal? Doesn't this mean that I could, for example, buy a worthless mining claim, start issuing stock, and pay someone 10 grand to tell the most outlandish lies possible about my claim? Even if I could only sell 10 million shares for 1 cent each to people looking for a massive long shot, it'd still be "money for nothing" (no chicks for free though).
1a. Would it be illegal to lie if you ran a site being paid directly by dinar sellers, but legal if the money is filtered through Google ads? If so, this seems like total BS, and basically the investing worlds version of money laundering.
2. What's the difference between Montana selling, for hundreds of dollars, access to "post RV investments", and the BH Group selling, for hundreds of dollars, access to a "post RV hedge fund"? It's illegal if you call it a hedge fund, but A-Okay if it's just a vague reference to non-specific investments? Why isn't he in jail?
You're exactly right. It is an incestual relationship between the sellers and the pumpers. I was the one that posted that info on Wasik's blog. That's exactly how the sellers perpetrate the scam. Roger Dorman lets the lies free flow on his DinarDaddy site (although I'm sure he'll tell you that he doesn't endorse any of it with that silly disclaimer "Do Not Believe"). That site doesn't directly sell anything. But, of course, it allows "advertising" from all sorts of dinar dealers. His TreasuryVault site doesn't have a forum or posting area. But it is happy to accept any traffic that just happens to wander over from his pumping site. I don't know the corporate structure of either site but I would suspect that DinarDaddy has a different owner than TreasuryVault. It is the textbook way to perpetrate a scam. It is despicable. It is morally bankrupt. But, unfortunately, it is probably legal.
DeleteHere is another dandy from that arrogant fool scammer kaperoni:
ReplyDeleteYou are all missing the boat here. There is no RV period. Neverwill be..Itsa madeup lie by pumpers. What there will be based on sound monetary policy is a gradual rise in the dinar over a period of time. That is why these articles that state 2015 are more accurate than not. It will simply take a period (at least 6 months) once they begin the float to acheive a rate at or about 1 to $1 in which they can official declare theyhavedeletedthe zeros (and implement the Law of Indebtedness).
Wakeup, i have been studying this investment for over 6 years. Not a few hours a day, but literally 6-10 hours a day. Nobody, knows more aboutthisinvestmentthan I do. So don't come in here and tell me what you think are facts or what you think is the plan. I know the plan and I know the facts. What this article does say is more important than who said it. What is says is that the dinar will not rise overnight and that is just more confirmation of a float. It also says the dinar will rise in value (no LOP) and it says the dinar will help other world currencies (reserve currency)
Really Crapper-pony? Sound monetary policy? He likes to use words like that to keep his victims convinced that he knows what he is talking about. Just the fact that he has to say that no one knows more than him proves that he doesn't know shite. Of course he never explains how "sound monetary policy" would allow a currency to increase in value by 100,000% in 6 months. Maybe he can point to an example in history so that his victims can see that he is right. O....wait a minute.....he cannot even show and example of a 50% increase over 6 months of any currency throughout history because there is no such thing as movements of that volume yet he wants his victims to believe in a 100,000% increase?
DeleteIts amazing that he has the balls to say that RVs are made up by dinar pumpers. LOL.....does he really think that people cant quickly post proof that he has been doing exactly that for years? Please....this clown has lost his freaking mind.
Thanks for the laugh Whispering. I needed that.
Crapper-Pony.......you are a gutless dinar pumping scam artist coward. I dare you to come to this site and defend the ignorance that you use to con people out of their money daily. 6-10 hours a day studying? More like studying how to scam the gullible out of their rent money. Low life.
The day the dinar is a reserve currency is the day the Earth reverses it's rotation. Iraq is a violent, unstable nation in the most violent, unstable part of the world. It's annual GDP is barely $210 billion, 95% of which is due to oil production (which is priced and traded in dollars, by the way). It has no agriculture, no manufacturing, no tourism and no service industries. It has a corrupt gov't. It is a violent nation on the brink of civil war. Over 6,000 people will die this year due to sectarian violence. No nation in their right mind will ever own the dinar as a reserve currency until these problems are fixed (which means they will NEVER own the dinar in our lifetimes). Only delusional fools full of greed and ignorance think the dinar has real "potential".
ReplyDeleteEven more directly, what a central bank looks for in a currency they might want to use as a reserve is first that it floats as if its pegged then you might as well use whatever it is pegged to as your reserve and cut out the middle man so to speak. And secondly that its value is as stable as possible (i.e. relative to other floating currencies). As long as Iraq is a single industry economy they are not going to go off the peg and risk their exchange rate fluctuating with oil prices, and even if they do their economy/country (as you say networth) is not big enough or stable enough to remotely be in consideration as a reserve. Its beyond nonsense.
DeleteI love the "gradual rise of 100,000% over 6 month" so basically 4% per day, every day, for 6 months, yea that's gradual! But he says only he knows the facts so it must be true! 6-10 hrs per day of study for 6 years and he still doesn't understand the basics of how currency works. its way past being a joke. It would be interesting someday to find out if he knows its al crap, or if he's really that stupid, or really that drunk on Koolaid or mentally ill or what.
About two years ago Kap saw a new story and stated this.
DeleteKaperoni: "This article is not good. It appears clearly in this article they are talking redenomination or LOP. I am not giving up hope, but this seems pretty compelling that Iraq may not be honoring the dinar at face value post redenomination. The best one can gain from this is 2X or 3X our investment if this is true."
The interesting thing was this was right after Rudy and the other guys got indicted. Ali was first, he went public and told everyone they were on drugs if they thought a big RV was going to happen. Dinar Daddy than made a public statement that he thought there would be a redenomination, and he suddenly knew what that meant after confusing people about it for years. Then Kap put out his statement.
I think it's obvious they were all covering their butts and scared as crap they were next.
Good post Networth. Its funny how some think that Iraq is an economic giant. Take TrinityeXchange over at DV for example. Here is a quote from him (or her)........."to compare other economies with Iraq is a severe mistake. Iraqs economy is an emerging market at the purest sense of the word. their stock exchange is nowhere near where its going to be. their gdp is (I believe) the fastest growing and will continue to do so for years."
DeleteNot only is all of that pumper regurgitated nonsense, even if it was true it has zero to do with the value of their hyperinflated currency. Take their GDP for example. How much can it really grow? If they double their oil out put then what? It grows to 400 billion? Whoopty Dooo......weak small backwards corrupt economic peons Iraq will remain. What else are they going to sell other than oil? Sand? Camel dung? These believers bring pictures of the Kurdistan region and say.....O yeah.....look how modern and wonderful Iraqs future and growth is. LOL....of course they don't show some of the most extreme poverty on earth that the other 95% of Iraq lives in. Then they mention banks and oil companies coming into Iraq. Uuuuuummmm......Duuuuhhh......There is an oil boom going on there. You think maybe banks and oil companies might come in? These believers live in a dream land if they think Iraqs economy is going anywhere. They have 30 million people with no skills. Good luck with that super fast economy growth. Hahaha. Again.....even if Iraqs economy grew 1000% every year their hyperinflated dinar would still not rise in value. Currency value doesn't increase due to economic growth. If the believers think I am wrong there then all they have to do is show an example of when it ever has. How hard is it for the delusioned to understand that 83 trillion dinar in existence allows you to buy a million of them for 1000 USD? That isn't "undervalued" That's hyperinflated. Its an easy distinction to grasp.
Agreed Dinark. I'm actually working on a post about this topic, and was surprised to find that Iraq's economy wasn't even in the top ten for GDP growth in 2012, not that it really matters. Stay tuned for that.
DeleteI would suggest looking into the jesuit agenda and their plans to bring the world's financial headquarters to Dubai while making Iraq the political HQ.
DeleteHERE is an enlightening perspective basrd on substantial efforts to find out what really is happening in global agenda/history:
http://theunhivedmind.com/UHM/conspiracy-research-interview-1-oct-2013-with-the-unhived-mind/
excerpt of statement above -
Which is more important, the United States or Israel?
"Israel is not important in the slightest. What is important is the Latin Kingdom of Jerusalem. The Vatican and the Jesuits do not care about Israel as a nation, they merely use it for now to create social engineering in the Middle East. When all is achieved by the Jesuits in the Middle East, the nation of Israel and Zionism will be no more in existence. The Middle East will end up become one big trading block modelled on the European Union. The Latin Kingdom of Jerusalem will be the Capitol City of the New Middle East not to mention the spiritual head of the world. Dubai will be the financial head of the world and Iraq will be the political head of the world. A lot of what sits in the West today will end up being located in the Middle East as the West is turned into a third world slave plantation. The Vatican will be destroyed by either a giant planned disaster or terrorist event resulting in a massive holocaust burning of souls as a ritual prior to the Roman powers moving to the Latin Kingdom."