Tuesday, November 12, 2013

Baghdad Invest

Last week a site called Baghdad Invest caused quite a stir as they announced that the IQD has RVd at around 62 cents.  It wouldn't be unusual for this to come from a site like Dinar Recaps, but Baghdad Invest had previously said the RV would never happen so this was coming from a non-pumper.  Well after a weekend of chatter in the dinar world the fun loving folks at Baghdad Invest announced that it was all a hoax designed to show how gullible the dinar community is.  While that comes as no surprise to readers of this blog, I expect it to deflate a few balloons and ruffle a few feathers in the land of the make believe RV.  I had actually thought about doing something like this, but I didn't want to be responsible for anybody buying more dinar.  I have to admit though, it was kind of amusing to see this play out.





  1. I have to tell you Sam I Am, I just love your site and everything that you try to do in order to show how bogus this whole thing is. I have to say this whole thing with BI has been so funny to watch unfold, yet very sad. If you look at some of the posts that are attached to the Facebook Site FakeGurus55, it is amazing the awful things that they are saying about this site. I just can't believe even after all they did people are blaming them and saying nasty things about killing peoples hopes and dreams. I must say that this whole thing has gotten so out of hand, it really scares me at times. Keep up the great work

    1. It's completely out of hand, and is very scary. The negative effect the dinar scam has had on numerous people's lives really cannot be overstated. We've seen the stories here, and we've seen the stories on other sites, it has seriously ruined people's lives. Ruined marriages, lost homes, bankruptcies, I'm sure there have even been suicides.

      Would you live your life the same way if you thought you were going to be rich sometime within the next year or two? What if you KNEW you were going to be rich within the next year or two? All these people are basically one or the other (and more than you'd probably think fall into the latter category, I've probably read "it's not a matter of if, but a matter of when" 10,000 times on dinar forums).

      People say there's nothing wrong with hoping and dreaming but the fact is that most of these people think there's a 50-100% chance they're going to be millionaires any day now. They're making life decisions, even if only subconsciously, based on something that has literally a zero percent chance of happening. Anyone that doesn't think that's extremely harmful is an idiot.

      There's nothing wrong with buying a 2 dollar lotto ticket and hoping that you win, as long as you understand that it's almost guaranteed you wont.

      There's something incredibly wrong with spending thousands of dollars on a currency based on total lies and then not just hoping that you "win", but thinking you've got a pretty good shot at it. And by "pretty good shot" I mean even 1% chance or more, which probably accounts for close 100% of dinarians.

      Dinarians = Spend thousands of dollars for what they think is a 1% or better chance millions.
      Lotto players = Spend 2 dollars at what actually IS about a 0.000001% chance at millions.
      Reality of dinarians = Spend thousands of dollars on what is a 0% chance at millions. You are literally infinitely more likely to win the powerball than to become wealthy off the dinar (unless you're one of the guys selling it or pumping it, obviously).

    2. gt5junkie, I have to say that you have some of the best posts I have ever seen. They always make so much sense and are right on topic. I would like to share some of your posts with some friends of mine that are thinking about doing this stupid thing and won't seem to listen to me, is that all right?

    3. Did "fakegurus55" disappear from facebook?? I don't seem to find them on FB. It would be extremely funny if they read this blog and shutdown that page for being exposed. AND,,,, if that is so it's because of Sam's hardwork as well as you posters who share legitimate information. ;-)

  2. Too funny, yet too sad. Maybe this saved some.

  3. That is brilliant. What a perfect way to illustrate the absurdity of this scam. I hope it shakes a few people to reality. But I'll bet, even after this hoax, there will still be dinar believers that haven't had their faith shaken. They have invested so much emotionally, it would be psychologically devastating if they recognized the fraud. If after 10 years of waiting, federal indictments of dinar pumpers, and admitted hoaxes like this haven't caused them to recognize this scam, there probably is nothing that will. It's a testament to just however powerful (and dangerous, if abused) faith can be.

  4. Hello All,

    Check some News about todays news at here:

    1. None of which has anything to do with the Dinar's value. That's what pumpers do - spawn off 100 odd links to irrelevant news about Iraq in general.

      And they come from a ripoff sales site with ludicrous commission fees. "Pay $1,030 for 1m Dinar ($857 worth) only to be given $697 back with buyback ("Minus $160 per million circulated Iraqi Dinar processing fee"). Or $1,080 for 10k Dinar notes (worth $857) or $1,300 for 5k Dinar notes (still worth $857).

      So overall, you lose a whopping 32% (25k notes) / 36% (10k notes) / 46% (5k notes) of your investment. Wow what a bargain!

      Almost a good a "bargain" as their other deals : Selling 1m Vietnamese Dong ($47 worth) for $80 or 1m Indonesian Rupiah ($88 worth) for $150! What an incredibly honest non cowboy-run site!

      (Sorry for being a little sarcastic but you really shouldn't link to those sites on this blog. Unlike DinarVets, people here are actually quite good at maths and seeing a blatant ripoff for what it is...) :-)

    2. "Check some News about todays news at here"

      Why? It has no bearing on an RV whatsoever.

    3. Brian: Even worse than the rip off spreads, to me, are all the "extras" that people are literally spending (cumulatively) millions and millions of dollars on.

      Blaino is financing people on trusts for christs sake. People that literally can't afford the 400 bucks or 900 bucks or whatever it is to get a (useless) trust set up can still get one through Blaino. Talk about poor financial management and poor decision making.

      People are paying Montana thousands of dollars for all his VIP/OSI/OGIT nonsense, and then apparently there are "maintenance fees" on top of that.

      I don't really feel much pity for these people though, to be honest. Getting suckered by the dinar scam is one thing, but buying into all these useless tax avoidance and wealth preservation scams means you're also being greedy IMO, so the heck with you. It's not enough to make millions for doing practically nothing for these people, they also don't want to pay any taxes on their enormous windfall.

    4. Agreed GT5 Junkie. Those premium "avoidance" scams don't even work either (even if the "RV" was real, which it isn't). I think it was Dinar Daddy who was pumping the "LLC" tax avoidance scam a couple of years ago. Back in the real world, a lot of people have learned the hard way that setting up a Limited Liability Company or Trust as a fake "business" or "charity" and buying your investments through that still doesn't make you immune to Capital Gains Tax / income tax on capital appreciation.

      As for premium alert services, it truly boggles the mind as to how people can seriously believe no-one in Iraq will notice every banknote, bank ATM, retail cash till, accounting / auditing process, FX rate, ISX stock values, etc, all being being changed for 30m people with no supposed media coverage, and will have to rely on some guy 6,000 miles away with an endless string of 3,971 failed predictions, who can't speak a word of Arabic to "break the news to the world" by basically writing a Javascript that monitors xe.com's USD vs IQD rate. That's "Dinar Alert" in a nutshell. Their "super-secret high level CBI source" is literally just a few lines of Javascript that watch xe.com all day long...

      The fact that the same xe.com's webpage on Iraq's planned redenomination says "The intention would be to drop three zeros from the nominal value of bank notes; but the actual value of the dinar would remain unchanged" is obviously the "wrong" kind of intel that "must be excluded"... LOL. ;-)

    5. Sorry Mark but somehow I am missing your point with these links. First of all be very leery of these Iraqi blog sites as many report garbage because they are not even TRUE Iraqi sites. There have been journalist who've outed companies who've used propaganda media practices pre, during, post iraqi war. It's pretty pathetic but it was and still is a big money machine which is why I don't believe anything that comes out of that country ESPECIALLY government & CBI related. Sadly, the only news I believe is when they report bombings.

  5. Sam, forgot to add - excellent article. This is exactly what the "RV" community need. For way too long they've been hooked on "confirmation bias" (believing absolutely ANYTHING that promises free money or sound nice & fluffy) just as much as any drug addict. To some it's ended up almost like a religious cult fawning over their favorite "guru" but with "naysayer" taking place of "Suppressive person", "heretic", "kaffir" or "disbeliever".

    What's needed for many is a good kick up the *** to start learning how to think again. It's obvious the way some "guru's" and the usual forum posers with made-up "secret agent contacts" reacted - they are not selling "secret information" (and never have been), they are selling manufactured hype, fabricated "rumor" and contrived hysteria on the back of whipping up an "expectation addiction" in their followers:-

    From the article:-

    - - [theviking] gb said he has gotten about 17 confirmations it has happened

    - [sherlockdinar] theviking 17 confirmations is strong!

    [diwd] lgtennis do u know how many intel gathers have confirmed that article.

    [lgtennis] diwd several yes

    A few more "wake up calls" like this can only be a good thing...

  6. This is a bit off topic as it relates to Bitcoins, but since folks at DV do seem to read this blog I thought I would use it to reply to something said at DV on this subject that is not accurate. One of the few remaining "lopsters" at DV who has managed not get get themselves banned despite understanding that an RV is impossible, fib1618 commented that

    "Here's line 54 of the bitcoin code............................

    : static const int64_t MAX_MONEY = 21000000 * COIN;

    So when 21,000,000 bitcoins isn't enough, the programmers can just increase it? How convenient. Where have we seen this scam before??"

    from: http://dinarvets.com/forums/index.php?/topic/162628-deleting-three-zeros-from-currency/page-2#ixzz2kdjhjBl6

    Alas fib has fallen into the very trap he usually tries to warn others away from, which is coming to a conclusion on little if no real understanding. That constant is (in current code) line 53 of main.h . It is NOT imposing a limit on the number of Bitcoins that exist but reflecting the limit of the number that are theoretically possible. That number is not know exactly, we just don't have the math to be able to figure it out, but an upper bound can be computed and that is 21M coins. That limit is fundamental to the encryption codes and algorithm used and can not be changed with out invalidating all existing Bitcoins. i.e. this would be making a new currency Bitcoin2 say, but the original Bitcoins would remain and be limited to under 21M coins.

    I am not suggesting anyone buy Bitcoins, and have never owned any myself. Since they are a world unto themselves there are no fundamentals one might use to project their value and their extreme volatility is (it seems to me) to be based entirely on owner or speculator sentiment. So I would use extreme caution if thinking of investing in BItcoins. But one thing you do not have to worry about is that when the last coin is mined (i.e. numbers that fulfill the crypto specs for the currency can only be found via brute force searches originally on plain old PCs then GPUs then FPGAs and now there are custom ASICs for this purpose), that the limit will just be increased to allow more of them as that can not happen.

  7. people still care about the iraqi dinar?

    1. Of course they do sonny, you spent years doing everything you could to convince them that they were going to be millionaires any day now. What are you saying? That you were full of it and didn't know what you were talking about?

    2. I don't know about the other sites but the traffic here has never been better.

    3. LOL........Whats up Sonny? Yeah there are thousands who still care about the dinar because they are brainwashed into believing in economic fantasy by the likes of you. You can fade away from the forums if you want but we all know that you read them all daily. Maybe it would be best if you just admit that you were mistaken about the dinar and that you regret all of the hype that you spread over a period of a few years. I openly admit that I was mistaken and gullible as have many. When are you going to admit it? Pretending that you no longer care doesn't erase the electronic record of your role in the dinar world.

    4. Although I posted very little during the 4 years I owned Dinar, I would read the different forums until I got the comments that made me "feel good." I couldn't wait till Wednesday to get my don't worry, everything's OK pep talk. I would even get aggravated with some of the posters from this site when they disputed what was the "norm"......sorry guys! It wasn't till Breitling started to pushing the lower denominations that the warning bells were to much for me to ignore. Although I sold all of my Dinar, it has become a hobby of mine to frequent some of the sites I didn't even know existed. Wow.....when I go to Dinar Recaps and read the reply's to the stuff there.....I'm speechless!!! ....I know I took the bait and was a little gullible but come on...that's Jim Jones kool aid brewing in the wind. I stop by DV occasionally and only see the same dozen or so names propping each other up. I even see some of the old hard core posters selling some of their Dinar. I guess its a good thing. There comes a time when we just have to admit we were "suckers".....but we did learn a valuable life lesson........I also trusted every word Sonny said..........peace!

    5. Folks.. How do we even know this is the same Sonny1 of a B!tch from the community. It could simply be another imposter from the dinar community trying to drum up some more commentary. Not that I am defending NOR do I CARE FOR the original Sonny1 whoever that might be. However, I will say I welcome more commentary on the "original" Sonny1 be it this cat or not because the screen name character deserves every bit of it. ;-)

  8. So I wanted to bring to light a group of pinheaded buffoons The Gatekeepers who also hold calls twice a week (used to be 3x weekly).

    This group mainly guided by Vic / Victgk1 / Victor who also claims to go by the "REAL" name of Khach Vahan and Joey provide another twist which is appearing to be genuine by reading news that is irrelevant to the RV in and of itself such as Maliki is a crook (gee that's surprising huh!!), torture in the country, Iran has been counterfeited dinar, Syria was flying weapons over Iraq, Shabibi is still in charge in the background, GCC nations and currency, etc... I think you get the gist. Vic is a loser drummer in a band (so he says) who was once a millionaire but will be again post rv, Joey is a wannabe journalist who tells a nice story like a librarian but is nothing more than a publicly admitted used car saleswoman, Whisky6 claims to be this war hero from the first Iraqi conflict "Desert Storm" but has no evidence of it aside from talking about how he has contacts in the military but all he simply highlight's is that he likes Chivas and expensive cigars (sound like TNT Tony eh!!) and T-Dawg who is probably the smartest one because he stays in the background listening in. Vic and Joey have been booted multiple times from other pumping teams until they joined the other yahoo Whisky6.

    Oh wait!! T-Dawg coordinates both dinar dealers Sterling Currency Group and Dinar Inc to appear on their calls spewing the same ole garbage about how they will "cash out" anyone who's bought dinar from them obviously a tactic to get you to buy overpriced Iraqi toilet paper from them. Uncirculated toilet paper which guarantees that a Camel's crack was not wiped with it. ;-)

    All of this while may or may not be accurate news has nothing to do with the IQD rv'ing. Here's my point. Vic gives this long disclaimer at the beginning of each call that they are not doctors, lawyers, financial pros, etc. AND do not provide rates & dates YET they allude to dates and rates if you listen to them carefully. Such as Joey talking about how Arab meeting in 2012 was a sound time for this to happen, the tax and tariffs being passed and implemented while Vic alludes to the $4 rate based on Shabibi's statement of "largest of the smallest denoms which he claims is 25 dinar to equal $100 USD which to this date has not been notated anywhere although vic claims it has.

    They are an angry group always trying to out OTHER GURU's for their vitriol as to distinguish themselves for being honest. Look... NO ONE has conference calls weekly nonetheless 2 or more times a week and not get paid. These clowns advertise for Sterling Currency Group and Dinar Inc. on their website http://mydinarnews.com - YET they claim they are not getting paid to do so. Just recently one of their team members KJ quit because she came to the reality that she didn't belong there. KJ if anything was the smartest of them all in the sense that she kept up with the Iraqi constitution and understood it well. Bottom line is she saw through the junk and left.

    So you have to ask yourself if they are honest folk and mean well why on this green earth do they feel the need to mask their identities with fake names?? I mean it isn't like if they went by their real birth names they would be followed by the scammers post rv if they use a general email address 'thegatekeeper2012@yahoo.com', sit on a freehdconferencecall site, are not on webcams like other momo gurus, do not give out their personal email, home address, social security numbers, etc... I think you get it by now. At the end of the day all I smell is poo poo platter.


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