Another month comes and goes, and the dinar world is again listening to the proverbial chirping of crickets. It appears that the post-Ramadan period produced nothing encouraging for the dinar hopeful, and yet the hopium is still being consumed in mass quantities. In reviewing the events of October I really couldn't find much of interest to write about, except for a few things. First, a certain guru pretty much outed himself in a conference call. The other day on a whim I decided to listen to a call by a guy called Loechin who has been making the rounds recently. To my amazement he offered his true name and even gave out the URL of his website. His name is Charles Walters and he's an itinerant evangelist.
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| Charles "Loechin" Walters |
http://www.loechinlive.com
http://www.charleswaltersministries.com
http://www.youtube.com/watch?v=hpgOzbQVXE8
He also mentioned the donate button on his website after talking about the orphanages he works with in places like Bolivia.
During this call he cited TonyTNT as somebody credible, told us that the current rate showing for the IQN (apparently we're not supposed to call it the IQD now) is $25.99 and the VND is around $2. He also insisted that he has negotiated the highest cash in rate with Wells Fargo over the past two years.
For the life of me I can't understand why an established minister of the gospel would jeopardize his credibility and ultimately his ministry on a scam like the revaluation of the Iraqi dinar. It's one thing to hope that the dinar will provide you with some substantial increase, but to say as he did July 17:
"It's been a very exciting day. At 2:15 this afternoon, the United Nations officially announced the revaluation of the Iraqi dinar. At this moment, we are simply awaiting a call to go to the bank. All has been done and all has been completed. From what we are hearing, we could be at the bank as early as tomorrow and as late as Monday."
and this on October 3:
"WOW all the info coming in today has been amazing. Read Eagle1, Tony, and Bluwolf, and you will get most of the info. As of this very moment the rates are still in the $25 plus change, and I think we will see the VNN at $3 plus. Seems like the closer we get someone wants to push the date back well not this time. It can and I believe will go any moment. It's no longer going to be banks closed or open, Tues-Thur stuff. This is off the table now and we are waiting for any second."
I have to admit I'm stumped. Does he really believe this? And if not, why say these things? I don't see any dinar dealer banners or VIP memberships on his sites. The only thing I can figure is he's fishing for donations, but I have to ask "is it really worth it?" When Iraq does eventually get around to redenominating he's going to have a lot to answer for. In that he's hardly alone, but unlike most gurus he has put his name out there and left his dangling backside completely exposed. When the faithful realize that the CBI's plan was always a lop and that there was never a chance of anybody getting rich from buying dinar they're going to be extremely wroth. For his sake I hope he's got a parsonage ready in Bolivia.
Next, many of you will recall a recent post I did about the rumour sites Dinar Recaps and Dinar Guru which feed content from other sites into their sites to draw hits and generate ad revenues. Well it appears that Breitling took notice and started a similar site of his own less than a week after I posted that and is now encouraging his followers to check it out. And so it goes .......
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| 2013 Douchebag of the Year TNT Tony |
Apparently Tony's douchebaggery was even too much for the 2011 winner Dan from PTR, because he cut Tony loose back in the summer. Now Tony is free to fly solo and pursue the heights of absurdity with his thrice weekly RV updates. Congrats to TNT for proving that all you need to get ahead in life is a little determination, hard work, creativity, and personality. Unless of course you're a pathological liar and scammer.
The content of the broadcast was filled with the same old recycled pumper BS - the mythical Kuwaiti RV, Iraq can't be a great country with a suppressed currency, oil backs the dinar, Iraq will be the next Dubai, Bush and Cheney set the RV up, Obama is willing to meet with Maliki because he knows about the RV ..... blah blah blah .... He also claimed that Iraq is constructing the world's tallest building in Basra, although I couldn't find anything more than a conceptual rendering of what would be the tallest building in Iraq. Wikipedia has an article on tallest buildings and there's no mention of any building in Iraq. This is actually quite typical of pumpers, making claims that can't be verified by any factual information. But who cares about facts anyway? After all, this is the dinar we're talking about.
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It seems like every few months a new clown emerges on the scene. As soon as followers grow weary and skeptical of the current crop of pumpers, they inject a new "expert" or "source" into their conference calls or onto the website to pump new life into the scam. That seems to be how most of these clowns got their start. Yet there are just as many clowns that we no longer hear from at all. I suspect they lost credibility with the followers and became bad for business. So they quietly stop posting or start a new life as a new "expert" on Iraq under a new screen name somewhere. I compared it to a trashy romance novel a few months back. I think that is still true. The names of the characters change but the plot and storyline remain the same. Loechin will eventually lose his flock of dinar followers and fade into the sunset. But, without a doubt, somebody else will emerge and take his place. It's a ridiculous cycle.
ReplyDeleteSome of those who have gone away did so after Brad and Rudy were indicted. The reality of the situation finally dawned on them. I think this blog also scared a few off, which is fine by me. Dinar scammers now realize that pumping the dinar entails a certain amount of risk and inconvenience.
DeleteIt does make your blood boil that these clowns so shamelessly prey on christians in this scam. They probably figure they are predisposed to believe things they can't fully understand. If you think about it, the RV has a lot in common with christianity. There is the concept of a crucifixion (the value of the old dinar being "destroyed"), a savior (only certain people know about it and will benefit from it) and a resurrection (the value "instantly" being restored in the future). It probably appeals subconsciously to many christians for just that reason. Whatever the reason, it is dastardly to take financial advantage of people in such a manner.
DeleteNetworth, I agree. From what I have learned in the cheesy dinar community the christians foolishly attach themselves to anything that spews the name jesus or god. Please understand that although I am not a believer in churchhood of any faith my intentions is not to bash any religion. However, these pathetic gutter-gurus realize that many christians believe that the rv event is of bibilical proportions therefore only those who believe in jesus are blessed to be in the investment and will reap the financial prosperity as most evangelical preachers or pastors falsely propagate in the churches. That to me is low and despicable. It's sort of like attacking a helpless handicapped person.
DeleteThanks Sam.
ReplyDeleteThe funniest is the 3 dollar overnight RV of the Dong. LOL. I guess its plausible that the Dong M2 could be worth 3 thousand trillion USD overnight. Or 3 quadrillion USD. Yeah sure, why not? I mean the dinar is going to RV by 2,500,000% overnight based on Tony TNTs "intel". Its amazing to see the new economics at work. Thank goodness we have professionals like Tony, Frank, Adam, and Not-so-Breitling to help us understand the workings of the new made up economics that could never happen.
Indeed Dinark. If you "believe" enough then it 'makes perfect sense' that Vietnam will have more money than 37x planet Earth's sized economies... ;-)
DeleteThe only question is where to spend it given that just 2.6% of Vietnam's "magic wealth RV" will buy every product & service produced every year in every country on on the planet combined...
Let's face it briansimpson65, Tony's evangelic minions are like flies on a turd. Neither one is of much value or use nonetheless rational. Now ToeKneeJerk is pumping the Zimbabwe currency as if the Dong is not far fetched enough. He's got these meatheads now purchasing that currency by the trillions!! LMAO. I mean how MK Ultra'd can these hemorrhoids get??
DeleteI think we can assume that Charles "Loechin" Walters either believes both in what he preaches and the RV nonsense, or neither. If he doesn’t really think the Dinar will RV (or already has I guess) then surely he must be planning on an unpleasant eternity for scamming people. I suppose he is not expecting that upon his arrival in the afterlife that god might ask “The Dinar RV? Really? What do you think I put that spongy thing in your skull for, a paperweight?”
ReplyDeleteOnce again we see that those who have fully integrated belief without external evidence (something essential to religious belief) into their thinking can, under the right circumstances, be lead to believe just about anything no matter how nonsensical. The failure to be able to discriminate, if not the tendency to actively do so, between that which is mysterious and that which is simply fabricated nonsense, is among the most dangerous aspects of humanity in my view.
Big Care here:
ReplyDeleteInitially, I thought ... okay... $1000 investment for what will probably gain in value someday (doubling would be nice)... then the more these idiot lack-of-actual-intel "gurus" claimed .... each one more spectacular than the week before...
Well.... lets just say... I would be happy if my investment doubled. And I no longer even expect that!
Pretty much everyone here has been in your shoes, we all got sucked in on the fantasy of hitting it big. But unless you managed to buy very early (like in 2004) you won't even break even at this point. Now dealers are selling IQD for about $1,000/million and buying it back for $840. Once an RD is official (maybe next year but maybe not) their customers will dry up and they will have to actually get the IQD they buy from customers back to Iraq (or Jordon or Kuwait or whereever they are getting it) and that means they will likely charge about that same margin the other way, so then they might only pay $640 since they will be selling it back to the bank for $860 or less. So with $1000 invested, in my view, your choices are lose $160 or so now, or $360 or so later. Its possible that once they RD you won't even be able to exchange it, but I think that is unlikely, though still possible.
DeleteThank you for the insightful response. That amount of money is not the end of the world. I can place the dinar next to a few penny-stock company's I have invested in.... and look at it occasionally to keep from making the mistake again. Lesson learned... this time.... I swear. lol
DeleteMy cousin convinced me to invest in the dinar and Dong 2 years ago. He has a very successful business and has done very well. Knowing that, I thought he knew something or had some inside info or the dinar. So I jumped in and got hook on reading Recaps daily. although I suspected that it might be a scam from day one,after hearing him say that it was going to happen any day now reading Recaps, I started to believe it and convinced others to invest also.
ReplyDeleteAfter about a year I started to notice how obsessed I had become. My Business was beginning to suffer because I had convinced myself that I was going to rich soon and didn't need it to do good anyway. Thank the lord for my wife and Web Sites like this!! I was reeled back into reality.
My cousin is a different story. He has invested well over 100k usd and we will never convinced him that this is a SCAM. He has drug many others in this scam. The same way he got me. He is not an internet guru, He is real life brainwashed guru who is in so deep that his ego wont let them believed the truth.
I believe that there are thousands just like him including this (Loechin) guy. Sam thanks for putting your time is this!!
$100K ? OUCH! Unfortunately he's not the only overextended "investor" out there. That's one of the biggest problems in this scam. If you want to drop a couple hundred bucks on this just for kicks that's one thing, but far too many are convinced that this is some God-ordained event unfolding before our eyes and they sink ungodly amounts into it. This isn't going to turn out well for them, I'm afraid. Good to hear you caught on, Jay.
DeleteSam, once again thanks for all your hard work. Tony TNT is slowly inching up week after week with his fantasy exchange rates of the IQN vs. the dollar... I bet he is calling for the rate to be over $50 by Christmas.
ReplyDeleteI certainly can't argue with the Douchebag of the Year award. TNT Tony has worked hard and deserves it. It just proves that if you work hard, stay true to your principles and don't take no for an answer, you can achieve your goals. Being the biggest douchebag in the dinar community is a big deal, especially when it's full of nothing but douchebags. Congratulations Tony!
ReplyDeleteAnd we still have those 2 Nashville pumpers just a pumping away over at dinar updates. They now refer to it as "the window of opportunity (RV)" they tell their sheeple that either the window is wide open or it has closed a bit due to Maliki and all this other bull. Poppy is so clueless it's hard to imagine how he survives day by day with all the fairy tales he tells his sheep. He can't spell, has horrible grammar, and some sheep in his chat room have been saying BGG and poppy should run for president and Vice President. Good god, as if it's not bad enough now with the current president they want 2 lying pumpers to run things. Just he stupid are pale these days?? I guess pretty dang stupid if you ask me. They sit in that chat room day in and day out waiting for BGG or poppy to throw them a bone. Of course as we all know they are fully supported by a dinar dealer.
ReplyDeletei meant, just how stupid are these people these days! my prev post had a few typos!
DeleteHead an interesting interview on NPR the other day about scams. They were talking about the classic Nigerian Finance Minster scam email (this type of scam, send money to help me access my vast wealth and then I'll make you rich, dates back to the 1890s and the "Spanish Prisoner" letters. So why are they so blatantly silly and unbelievable? Because what they want is for all those that response to be 100% hooked already. The more people that respond who are skeptical the more they will eventually realize its a scam and bail out thus wasting the effort to real them in (of the Nigerian scam). The dinar scam isn't quite the same as there is little per person effort, but it does relate I think. What the scammers want is for all their followers to be true believers and hence not post any "negativity". This is clearly why they just ban folks from their sites that raise awkward questions. But, it might also be the reason that TNT Tony et al are so over the top. It filters out all those who will sooner or later be a pain for them and have to be banned least they try to infect others with rational thought.
ReplyDeleteAs the pumpers churn... What a soap opera these buffoons have going and it isn't even a cheap 'B' rated one either. Here's the thing. Sam is right in my opinion on what he reports here. I of course got involved because of a friend who presented me with an mp3 of a call with Dopie Okie as well as Thing 1 and Thing 2. It was presented to me that these were classified calls they had gotten a hold of and supposedly CIA and Senators were involved in this "secret investment". So me being familiar with classified type calls I listened a bit although not the whole thing as I began to research more of the currency background regarding the previous rate history of the IQD. So it made sense to me that perhaps some day in the future it could return to those rates and I bought some just to hold for however long it takes.
ReplyDeleteBut here's the thing. I began to reason how the whole LOP theory could occur and it made complete sense to me that YES it could and most likely would LOP. Well that's a fair thought. However, the idea that the LOP would occur ONLY IN IRAQ began to seem more ludicrous to me because quite frankly, there are no mechanisms in place to stop the Iraqi's from exporting triple zero dinar to let's say the US or UK for the "MAGICAL" day of the RV everyone so speculates on. At that point they would become instant millionaires by depositing their "000" notes into an Iraqi account making it electronic currency once global banking for Iraq is implemented. I mean that is what all of the dinar community minions believe no?? It doesn't take a genius to figure this out. However, I got to thinking that the US banks ALL stopped selling IQD not because of the imminent RV but because they will get shorted in the end. So here's my scenario and I'd love to hear from the brighter logical minds here.
The LOP or new fiscal policy with the currency has been implemented with removal of "000" notes in Iraq. In the US someone goes to a bank and exchanges a 25,000 note at let's say $1 ,for ease of explanation, and they now have $25,000. The bank now has a IQD 25,000 or "000" note correct?! Ok, now follow me here. That 25,000 IQD note has to go somewhere which most likely ends up in the US treasury which means the bank is re-imbursed their $25,000. Btw, I am excluding any of the fees, spreads, etc. for ease of explanation to get my point across. Now the US Treasury (good ole greedy uncle sam) says, "I am not going to lose out on this deal" and they have to return the notes back to Iraq so they get destroyed. Now Iraq says ok we will exchange that 25,000 IQD note for one of the new equivalent notes at 25 IQD. I could be wrong but I do not believe Iraq is going to exchange USD for the IQD the United States holds neither do I believe they will exchange for oil credits. It just doesn't seem feasible to me that they would pay out conceivably hundreds of billions or even trillions of dollars in oil credits or $$$.
Keep in mind no other country LIKE CHINA is going to pay face value for the notes out of the kindness of their hearts even for oil credits. If anything the US will get the oil credits and sell the oil to China at VERY profitable margin so that's a bunch of malarkey what the GURUS spew.
I conclude that there is a possibility that people could make a few dollars in this investment and could become millionaires "IF" they hold several billion dinar because once the "000" get LOP'd you would end up with millions. That their is a possibility. But if you own say 10 million dinar don't expect to yield more than $35,000 and that's being generous if the rate does magically come out at $3.50 buy back range. But that is before all of the fees / spreads / taxes, etc.
I welcome any logical and intellectual responses.