Saturday, December 21, 2013

BH Group Re-Indicted

From the Toledo Blade:



As federal prosecutors had promised, new indictments were handed up this week against three Toledo businessmen accused in a $23-million fraud scheme. 

Bradford L. Huebner, 66, of Ottawa Hills, Charles N. Emmenecker, 66, of Sylvania, and Michael L. Teadt, 67, of Maumee were indicted by a federal grand jury Wednesday in connection with the sale of Iraqi dinar currency and two allegedly nonexistent hedge funds.

All three are charged with conspiracy to commit wire fraud and wire fraud, while Mr. Huebner, owner of BH Group in Toledo, also faces multiple counts of money laundering and structuring financial transactions to evade reporting requirements.

The trio were originally indicted on similar charges in 2012, but on Nov. 27 — just days before their trial in U.S. District Court was to begin — Judge Jack Zouhary “regretfully” dismissed the indictment, citing a technicality raised by defense attorneys.

Steven M. Dettelbach, U.S. Attorney for the Northern District of Ohio, said in a news release that investors lost some $23.8 million from dinar sales and more than $700,000 from the sale of nonexistent hedge fund seats and placements.

Beginning in 2010, the trio allegedly made false statements to investors about the U.S. Treasury Department’s holdings of dinar and involvement in the Iraqi dinar investment market.

“These defendants made false statements time and again to convince people to part with their savings and hard-earned cash,” he said. “The fact that they falsely claimed one member of the conspiracy was wounded while fighting in Iraq is particularly egregious.”

A fourth co-defendant, Rudolph Coenen, 47, of Jacksonville, Fla. pleaded guilty in April to conspiracy to commit wire fraud, wire fraud, and five counts of money laundering, but he has not yet been sentenced. Coenen owned Bayshore Capital Investments LLC in Jacksonville.

http://www.toledoblade.com/Courts/2013/12/20/3-local-men-reindicted-in-fraud-scheme.html





56 comments:

  1. Sadly $23.8 million lost is gonna be peanuts compared to what the entire community loses when the LOP pops! You think dinarians are depressed now that the RV info fails daily just wait till 2014/2015. People will be jumping off bridges then with massive dreams suddenly come crashing down on them in the form of reality. ;-)

    ReplyDelete
    Replies
    1. Exactly, people like Dinarbeliever, Dontlop, Caz, etc from over at DV all know full well this is going to happen but the thought is so devastating to them they will deny to the end even when they know now what the end is going to be. The guy in the last thread, Alejandro Torres, with his standard lame Dinar scam arguments and childish attempts to laugh at everyone through his keyboard is just another shinning example. His desperation and near panic at the helplessness of knowing he has been scammed but unable to do anything about it is quite obvious, we see it all the time when these guys are faced with irrefutable truth. They have no argument to counter the facts and logic presented so they invariably resort to insults and name calling but why? Will that change the outcome? Of course not and sooner or later these guys will not be able to deny any longer, the people who have been warning them will be proved right (as if more proof is even needed!) and their egos just cannot accept this. In due time they will be forced to accept it however and we all know that, including them!

      Delete
    2. Well I see Easyrider thinks I'm Fib over at DV (Hi there Easy I just KNEW you came here, Lol!) When I was banned over there a couple of years ago they were saying I was someone I had never heard of and were giving themselves high fives for banning me "Again", they were wrong that time too but then when have they ever been right about anything? No Easy I'm not Fib or anyone else except for someone who was banned there about two years ago after only 2 weeks, but I'm honored that you thought I was Fib!

      Also DB keeps poking jabs at me, don't know for sure why I was singled out but I suppose it was for making him take a look at himself and apparently he didn't like what he saw. Hilarious actually watching him squirm like that.

      All just more examples of what I was talking about, by now these guys know the truth as well as we do but they lash out because of shear frustration at seeing their little dream come apart and it becomes more apparent with each post. Some have a bruised ego and some know they are going to sooner or later have to face friends and relatives that have been suckered into this scam by them and they get angry with anything that causes them to have to face that fact. Fellas we all know this is a scam, and they do too, but the little charade is about finished and those who refuse to face it and throw childish little tantrums and resort to insults and name calling should realize that's not going to do a damn thing to change the outcome!.

      Delete
  2. Dontlops desperate rant over on DV is entertaining to say the least. He is doing everything he can to try and convince the dinar masses that the Swiss Dinar Rved massively. Its funny. All of it started when FIb totally punked him out and showed where Dontlop said a while back that the Kuwaiti Dinar never RVed because the exchange rate never changed. We all know Dontlop has been pumping the Kuwait RV like mad the past couple of months. Then when Dontlop tried to weasel out of it by saying that he thought that only before getting educated, Fib punked him out again by posting Dontlop saying........I was there....I lived through it......I know what happened. ROFL. I got a huge kick out of it all and a HUGE high five to Fib for putting that hype pumper Dontlop in his place. So now Dontlop is whining along side Caz about the "lopsters" since they have nothing else to bring.

    Basically Dontlop said that the Swiss dinar "RVed by trillions of percent" (LOL his words) because it had been demonetized by Saddam and then remonetized by the CPA. So......if I went down to some tiny island that uses seashells as a type of currency and gave them a US dollar for one of them by Dontlops thinking, seashells just "RVed" by trillions of percent. Hahahaha....what a joke. The Swiss dinar was nothing more that a bartering item that the Kurds all agreed still have value so they used it for trade. Of course a dinar hype pumper like Dontlop would make up fabricated lies to create an illusion that RVs are real. The sad thing is, hundreds of people are probably believing the lies that he is spewing. Its too bad he is a coward and will not join this site. He knows better. I would really love to see the members here take him apart. All he really has is duuuuuhhhh........market rate or exchange rate.......duuuuuhhhhh.....trillion percent RV......duuuuhhhh.

    ReplyDelete
    Replies
    1. You know it's a real damn shame that these pumpers have not utilized their creativity skills at writing books or producing movies for Pixar or Disney. They'd actually be much wealthier than they ever dreamed of because you just can't make this doo doo up!!!

      Delete
    2. Yea dontlop claiming not to see the difference between a currency that is no longer legal tender and a 0 rate is pretty funny. Could you go into a bank and offer a penny (since you a generous fellow) and walk out with a trillion Swiss dinar? Of course not. The whole idea is silly.

      His constant refrain (Montana says this as well) that

      "Fiat currency are by decree and as long as they keep books and pay their debts
      Govts can and do decree value of currency
      They can change their value right now if they want"

      Read more: http://dinarvets.com/forums/index.php?/topic/168191-the-parliamentary-financial-attributes-the-delay-to-delete-zeros-to-hard-currency-control/page-6#ixzz2oDp2gyUa

      is yet another guru mainstay. Of course no government decree can control what value people place on goods or currency in a private transaction. Iraq is a constant reminder if you think a little about it. The "official" rate that the CBI offers in auctions is 1166 IQD/USD, but the banks that buy at that rate turn around and sell those dollars for about 1280 IQD. If the rate is "by decree" how can this happen? Of course the answer is that a pegged currency is pegged only to the extent that the central bank can actually offer the rate they claim. Its not by decree, its by actually offering that rate. In Iraq the CBI only allows auctions to be used for import purposes (not sure how its regulated) so dollars are still in demand and the down stream banks can get a higher rate (worse for dinar holders).

      I don't know where folks like dontlop fall in the range of really not understanding these simple things to just lying to themselves not being able to accept that they have been scammed. I see more folks over at DV going with the refrain that its looking like they will only make 300% after Iraq does the RD, then raises the rate from $0.86 to $3 . That shows that while some may have accepted that "delete the zeros" does not mean an RV, they still do not grasp that the exchange rate can not exceed the money supply divided by reserves.

      Delete
    3. They also don't seem to grasp the fact they are FAR MORE LIKELY TO LOSE 50% to 100% of their "investment" than to make "only 300%"! In fact it is extremely unlikely they will make a cent but almost a certainty they will lose at least a significant portion of what they have spent. They could cut their losses now by selling before the RD but that would of course only be passing the loss off onto someone else.

      Delete
    4. Dinarck - "Basically Dontlop said that the Swiss dinar "RVed by trillions of percent" (LOL his words) because it had been demonetized by Saddam and then remonetized by the CPA."

      To clear up anyone's confusion over the issue, the "Swiss Dinar" didn't "revalue". What happened was it appreciated naturally under Saddam because the Swiss printing plates were no longer available during the sanctions on Iraq and damaged notes never got replaced. In 2003, the CPA redenominated it by 150:1 (which didn't make Swiss Dinar holding Iraqi's 150x richer either) when they changed the banknotes design of the Saddam Dinars over and merged the two to correct the discrepancy in value vs the inflated Saddam's -> NID's.

      The "correction" the "RV" brigade are amusingly waiting for already took place back in 2003. Here's the official announcement from 10 years ago:-

      New Iraqi Currency Introduced October 15, 2003

      "Starting on October 15th 2003 a new national currency known as the 'new Iraqi dinar' will begin to replace the existing currency, the 'old dinar', and the currency used in the North of Iraq, the 'swiss dinar'. The new Iraqi dinar will create a single unified currency that is used throughout all of Iraq and will also make money more convenient to use in people's everyday lives.

      The currency exchange will last from October 15th 2003 to January 15th 2004. Currency can be exchanged at any time during this three-month period. Locations where money can be exchanged will include banks and other official locations, for example post offices, throughout Iraq. No fees will be charged for exchanging currency.

      The conversion rates for new Iraqi dinars will be as follows:

      - one 'old dinar' will be exchanged for one new Iraqi dinar;

      - one unit of the 'swiss' dinar will be exchanged for 150 new Iraqi dinars.

      Bank accounts and financial contracts in Swiss dinars will also be converted at the rate of 150 new Iraqi dinars for every one Swiss dinar. Bank accounts and contracts in old Iraqi dinar will not change.

      What will be the rate that is used to convert old currency into new currency?

      People who hold one old Iraqi dinar will receive one new Iraqi dinar. People who have one 'Swiss' dinar will receive 150 new Iraqi dinars.

      Why were these rates selected?

      These rates will help to equalize prices throughout all of Iraq -- helping to ensure that the prices of goods will be roughly the same across the whole country. Key Iraqis, including officials at the Iraqi Central Bank as well as leaders of the autonomous regions in northern Iraq, were consulted on this issue and fully supported this decision.


      Also note this gem at the bottom:-

      Can dollars also be exchanged for new Iraqi dinars? What will be the conversion rate for dollars?

      Dollars will not be converted directly into new dinars during the official exchange. Following the exchange, dollars will be convertible directly into new dinars at the market exchange rate. New dinars will also be convertible into dollars as well as other currencies at the market exchange rate.

      Will it be possible to exchange currency outside of Iraq?

      No. The only official currency exchange locations will be located within Iraq.


      http://www.usembassy.it/file2003_10/alia/a3101405.htm

      Delete
    5. Brian reported, "The only official currency exchange locations will be located within Iraq."

      I now ask Brian, what am I to do with the airline ticket to Wells Fargo in Nevada and the huge trunk I was going to transport my dinar in to exchange with the "Big Whales"?? This is not what Madame Wu lead me to believe.

      LOL!!!!

      Hey Brian, that was a really good post. Sadly, I don't think the dreamers will let this sink in.

      Delete
  3. I read that little exchange and it's hilarious to say the least! Fib smoked him that's for sure, like I said I'm honored that Easy thought I was fib using another name!

    ReplyDelete
  4. Thanks for the education that you and the frequent posters have given me. dwm009, whispering299, Brian Simpson, CFO, DaveD, Vinnyg7 and networth thank you all. I truly feel like you have given me a bachelor's level education on macroeconomics, foreign currency, redenominations. After having read every post that Sam has published and most if not all of the comments on this website. 2 years ago I was encouraged to "invest" in this once in a lifetime opportunity. After all of the hype and missed predictions I started looking for real answers and found this site around a year ago. I have been lurking ever since. My only regret is that I haven't been able to educate anyone else that I know that is tied up in this scam. Most everyone is too busy dreaming, and too greedy to listen to reason. I just don't know what else can be done for some of these folks.
    Thanks for listening to me ramble. I guess I will go back to lurking.

    ReplyDelete
    Replies
    1. Why just be a lurker? As someone who once believed but looked for and found the truth you have a lot to contribute so why not join the discussion! I too was a long time lurker until just recently but I wish I had of jumped in a long time ago, as the old saying goes "better late than never". Maybe you can help someone realize there's nothing to be embarrassed about from getting caught up in this thing and that admitting the truth is not only a relief from the madness and waiting but it could very well help some take that first step on the road to recovery. Victims of this nonsense need to realize there's no shame in being caught up in a scam that has affected many thousands but there is a total loss of creditability and respect for those who continue to argue in light of irrefutable facts and logic, those who chose to ignore common sense and the obvious facts do indeed have a lot to be embarrassed about! A lot of these guys will remain in denial even after the scam falls apart, they will simply resort to saying they were "cheated out of it by Obama, Maliki, the "PTB" or whoever but since it will then be all the more obvious there was never anything to be cheated out of they will just look even sillier than they do now.

      Delete
    2. Steveasite, As the adage goes "the bigger they are the harder they'll fall!" sadly will be fitting for their dreams of being millionaires. Even wealthy people I know don't have absurd dreams like these speculators. They live modestly like most others in society. I pity these poor folk because they will be emotionally in worse position as they were the day they l invested in the dinar.

      Delete
    3. Steve, many of us here if not all had bought into the dream of being rich at one point or another. If they say they say they hadn't and are on the forums then they would be lying to themselves. I lurked at Nenos place when I first got into this and ended up following two lovely ladies to KTF. There is where I started my research and found quickly it was a pipe dream. I am not on a mission to make everyone see it my way or to change everyones minds on the subject but rather to present the facts as they are. The facts speak for themselves and if it opens the eyes of just one person and keeps them from lining the pockets of a guru or a dealer then mission accomplished. If people still think an rv is possible in leu of being presented the facts then that's their right. Probably nothing can change their minds until Iraq finally redenominates. I just hope those people weren't so desperate they do something irrational at that point. Heck I just got the boot from a "secret" facebook group from one of those two ladies I followed all these years. It just goes to show that even after years of fighting the fight, you can still lose the war. Only when they finally do what they will do will people realize fully what they have gotten themselves into.

      Delete
    4. dwm, you are absolutely correct. People will freely speak about personal business in the forums most others would not consider doing publicly yet admitting to making an investment mistake with the dinar scam suddenly is too private to discuss in an honest forum. There's something wrong there with the ego picture.

      Delete
    5. Thank you Steve. If posting the truth steers just one person away from the scammers (and it already has), it will be worth it. Feel free to jump in the conversation at any time. No-one's going to mock anyone for being new, naive, or asking questions, only for deliberate scamming.

      Delete
  5. Check out this gem from a member on DV...Nadita...sounds like she's one of Adams plants.

    I have been in this investment for three years and I have read, learned, heard, paid for the information to get educated about the dinar and RV. I don’t consider the money spent as a loss as I learned so much J I think I have gotten a grip about the dinar and the rv J, yet there are much more to learn as the time I think “this is it” there is another twist and turn to the story or the news. Here is what I have learned so far J

    1. Iraqi Dinar is a currency of a country that is rich in natural resources and has been undervalued and hopefully it will be restored to its original rate if not at least it will have some value that will make us happy.
    2. Iraq doesn’t need to revalue its currency as the way it is now the rate will be just fine.
    3. Iraq need to have its currency tradeable internationally in order to play a role in the world trade and also to be in free market. With all its natural resources, it is just a wise business decision to be a player in the world trade.
    4. I don’t believe in high rate.. I think it will rv between 5 cents to a dollar and hopeful that I am wrong.
    5. I don’t believe there is a street rate and contract rate.. I believe it’s one rate and that rate is whatever Iraq states on the day of the RV.
    6. What is NDA..? I thought this is a currency exchange and why do I need to sign NDA? This is not a business deal
    7. I don’t believe there will be different rates if you say IQD or IQN. I think IQN is guru’s invent.
    8. I don’t believe there won’t be any tax consequences if you use the word “currency exchange”. Let’s call a duck, a duck.
    9. I believe we will be paying taxes. Prepare for worse which is ordinary income that can go as high as 39.6% plus obamacare of 3.8% plus state tax. Lucky you who lives in the states with no state tax otherwise it will be capital gain 20% plus obamacare plus state tax wherever applicable.
    10. The dinar can be treated as investment i.e. stocks. If you hold more than a year, you pay capital gain 15% and if you make more than 250K+, you pay 20%.
    11. We are closer than ever these past few months than when I first started 3 years ago.
    12. Am I going to get rich overnight with dinar..? I am hoping as I bought into the dream that the dinar would revalue at 3 dollars per dinar three years ago and I am still here holding my dinar LOL
    13. I am getting disgusted hearing the gurus calling the rv everyday and playing with people’s emotions day in and day out.
    14. I believe a lot of people invested in the dinar are educated people with some common sense that can filter what’s right and wrong. The other bunch of people are followers that would buy and hold on to every word gurus speak. It’s time for people to wake up and smell the coffee of reality.
    15. Money is universal thing. Even the dumbest person knows money J Iraqi people know how to count their money even the ones in the remote areas J
    16. If Maliki wants to be elected for third term, he can use the RV to win people’s votes and he should do it beginning of 2014 to win the election. Will he do it..? only he knows. Has he thought about this..? many times
    17. Will it RV soon..? I hope so for the sake of many people in dire need of the rv. Yet again, you can’t depend on the rv and postpone your life. Get up and do something productive and soon your mind will be off the dinar crazy world.

    ReplyDelete
    Replies
    1. This person is seriously delusional as are most of those speculators but what she lists are simply unsubstantiated regurgitated guru pu pu. But here is my favorite stupid line of all time .... "We are closer than ever before...." yeah and I am closer to my death date than the day I was born!!

      Delete
    2. Not only is Nadita's post total nonsense, but the follow up posts calling it "very logical" just shows that logic and reasoning are alien concepts to these folks.

      Delete
  6. Sadly I don't think Adam needs "plants". I suspect most of the nonsense that is posted is volunteered so to speak.

    ReplyDelete
  7. I saw that little bit of brillance CFO. There are many who are in for a rude awakening indeed. One of those is our good friend dinarbeliever. Here are some quotes from him today at DV.



    "They will RV I have no doubt about it" ............



    Really?..........That is like saying........"Unicorns will fly across the sky with the Easter Bunny and Leprechauns riding on their back". Since there is no such thing as huge RVs in economics then how can DB have "no doubt" that iraq will perform one? Its not a real thing.



    "That old chestnut boomer-Kuwait revalued their currency so will Iraq"............



    Well looks like Dontlop has done his job here and convinced the gullible of an event that never happened. Wow.........pretty shocking that DB would believe some dinar pumper that tells him what he wants to hear.......NOT......Of course the Kuwaiti RV is bogus and fabricated by scam artists but lets pretend we live in fantasy land and say that it did happen. What does that have to do with the Iraqi Dinar? When did Kuwait have 85 trillion dinar in existence? When did Kuwaitis run around buying camels with stacks of 25,000 KD bills? Kuwait never even experienced hyperinflation and they still had a redenomination. What does that say about the Iraqi Dinar? Once again dinarbeliever completely ignores the inflation issue in order to remain in his feel good place.



    "Get yourself a translation of Iraqi TV- It will open your eyes- the IQD is grossley undervalued".............



    LOL......this one is priceless.......poor guy learned nothing. The only thing being said on Iraqi TV is that Iraq is trying to LOP. Of course GO RV of the brain confuses this will a massive RV (that is impossible in economics) Iraqi TV is saying that the result of the redenomination will put the value of the dinar on par or close to the US dollar effectively raising its value. Anyone who thinks that Iraqi TV is telling everyone in Iraq that the dinar is about to appreciate by 1000 times its current value has serious mental problems. No I mean really.......anyone who would believe that needs to seek help immediately. The fact that I cannot accept that anyone could be that stupid leads me to believe that dinarbeliever is either a dinar pumping scum bag who acts like an illiterate child as a front or he is an illiterate child who is so deeply emotionally involved in the RV fantasy that he simply refuses to accept reality and believes whatever sounds good no matter how freaking illogical it may be. Once again he spouts off the undervalued ignorance after being shown REPEATEDLY proof of why the dinar is valued where it is. This leads me to believe that dinarbeliever is a dinar pumping scum bag who acts like an illiterate child as a front.

    ReplyDelete
    Replies
    1. Yep go "RV" of the brain causes Lop blindness and makes the zero deletion articles look like a "RV". There are two or maybe even three new such articles out today calling for the RD to start in 2015 and those dummies are back to cheerleading for it to happen but moaning that 2015 is taking too long.

      Honestly Sam I'm trying my best not to call anyone idiots but these guys are making it hard not to, Lol!

      Delete
    2. Yup!! I haven't seen the article about the 2015 but it surely follows the annual year end trend of them broadcasting the push back of the RD yet another year.

      I mean gee whiz this stuff is more predictable than yesterday's weather.

      Delete
  8. Okay, I've been getting messages from dinarbeleiver for a couple of days that I haven't published, and now dinarck is responding to something DB posted at DV. I'd rather not drag that dispute into my blog if you don't mind. And for the record, DB's messages were very disturbing. The guy truly has issues. It was kind of amusing at first but now it's not. I hope for your sake DB that you seek help. In the meantime could we just let it go?

    ReplyDelete
    Replies
    1. Agreed 100% Sam. We've reached the stage where any intelligent debate (directly or indirectly) with a certain 2 or 3 "cultists" wandering around in a confused stupor on DV is pretty futile.

      Anyway, if this is going to be Sam's last blog before Xmas, then have a Merry Christmas everyone and a Happy New non-Scamming Year! :-)

      Delete
    2. On the one hand I certainly agree that dragging unproductive arguments into the forum is not a good thing. But I'm not sure its a good to keep ALL such posts out. This in some ways give the DB's of the world a bit of ammunition to claim that they were effectively banned for showing support for the mythical RV. Anyone that frequent this site knows that is not the case, but for those that just drop by to see what happened to one of their fellow believers it might not be so clear. If a single representative instance of their disturbing behavior is posted to show why they are (effectively) banned, that at least puts the evidence out for all to see. But its Sam's blog and he should do what works for him, so just food for thought.

      Delete
  9. 10-4 Sam. I guess I just couldn't help myself. Sorry about that. I guess I will just have to settle for the pleasure of knowing that the upcoming redenomination will finally silence all of the hypsters. GO LOP!!!!!!!!!!!!!

    ReplyDelete
  10. I've posted here a coupe of times. I ended an engagement with an otherwise wonderful man....until his dinar obsession progressed to him being frighteningly delusional. He evolved into someone I don't recognize. I talked with him recently and it is clear he is desperate. The discussions here really just make me ill. I truly fear for this man's life....and others. I hope we don't see a run of dinar suicide Very very afraid

    ReplyDelete
    Replies
    1. It's one thing to discuss anonymous individuals known only by screen names who are obviously suffering from this Dinar induced delusional behavior but quite another be close to such an individual, the family member I have mentioned kind of fits the desperate situation you describe. It's exactly this type of behavior by a close family that has driven me to do anything I can to help stop these scammers and to help the victims of this massive swindle to see the truth, it's been an uphill battle but finally there seems to be a light at the end of the tunnel. My cousin Lou (his real name and I hope he sees himself here) started out excited and hyped up to the point of being annoying to be around, Dinar dominated every conversation and at first everyone just tried to be polite thinking this would soon pass but it has in fact gotten much worse over time. He has gone from being elated by his soon-to-be-wealth to quiet desperation, he no longer talks endlessly about what he's going to do with his riches but still he spends hours on the computer and listening to those incredibly stupid phone calls. A once happy and very friendly man has withdrawn into his own world that's totally involved with this mythical "RV", in short he has become someone we no longer know that resorts to anger if anyone tries to reason with him. I'm sure he is far from being a rare case but rather I think he, and the man you are describing, are in fact part of a large group that may have serious problems dealing with the shock of finally having no other choice but to face the truth. I also fear what's going to become of these people and I feel extreme anger at not only the scammers themselves but both anger and frustration at law enforcement for not doing more to stop this thing, maybe I'm wrong but it sure seems to me there could be a lot more done to stop it than they are doing now!



      Delete
  11. This was found on the TNT website. The damage Tony, Okie and the others do is real. I'm sure this lady isn't the only one.

    Thank you for your solid replies to this posting. Finally, there seems to be some reasonable consensus that this activity with dinar may not ever happen. I believed; I hoped; I dreamed; I believed. My husband only lives for that RV moment. He has everything in place and is subscribing to all areas in which to invest this dream. We are tanked out...no money. My husband will still be dreaming about the great RV and all the money he will soon have on hand. Afterall, today is THE day!! Did I say dream? Yes, to help my daughters and grandchildren. To help homeless, veterans, poor school children, etc. But, by the time we lose our home as a part of the dream of living the American dream, I will be gone. Too tired from all this BS, and not having chance to get ahead, while sinking money into reserves. I do NOT want to hear from nerdpig about being negative. This life sucks and we were just trying to get a piece of the pie. We deserve it as much as anyone! But, before we lose our home, I will take a big out, because this life will not be worth anything, since money is what makes the world go around and determines your true worth. I hope that some day, the dinar WILL RV and my husband will achieve this American dream of being rich, but, alas, it will be without me.

    Mrs. Talisman

    ReplyDelete
    Replies
    1. Broke and losing their home but buying ON RESERVES!!!! That says it all about how deeply these people have become involved in this mess. Some may find it hard to believe that people would really become that involved but believe me they do and I personally know some that have, THAT'S the reason I'm here!

      Delete
    2. This is exactly the perfect storm brewing for these poor gullible folk. So many stories of families being torn apart, homes being lost, family & personal businesses collapsing, and many inflicting illnesses upon themselves as well as those around them due to the stress of a BIG LIE!! If that is not enough for them to wake up perhaps they never will because once they come to the temporary realization that the "wealth" by way of IQD RV will never happen all we can expect is the worse for them. Possibly even the suicide. This RV is more than a curse, it is a cancer. A real cancer that spreads and kills. There have been some alleged suicide stories in the past few years because people ended up living in their cars due to sinking all of their money in this trash investment so their last ounce of hope for salvation was "hitting it big".

      What's even worse is that innocent bystanders may very well become victims and unintended targets if these people don't get a grip of themselves. Surely this can have a profound negative effect on society and no one will see it coming.

      Delete
  12. How about some opinions, does anyone think Law Enforcement should/could be doing more? How about the media, are they turning a blind eye to this? How could we contact authorities/media/whoever to voice our concerns about this huge swindle that has affected so many yet seems to have gone largely unnoticed? It's nothing short of appalling to me that this has gone on for so long yet it seems when any Government agency, state or federal, has even mentioned it they simply dodge the real problem and issue lame blanket warnings about investing in questionable ventures even when the main topic being discussed is Dinar! It's as if anyone with any authority is afraid to come right out and say "DINAR INVESTMENT IS A SCAM" but why is this?

    ReplyDelete
    Replies
    1. I certainly think they should do more. Unfortunately as John Jagerson has told me, investment fraud is rampant and law enforcement is overwhelmed. Most of the people hired to investigate investment fraud are fresh out of college and they don't have the experience necessary to adequately pursue these cases. As for the media, most of them are like a lot of dinar investors. They don't know enough to form a conclusion as to whether or not a windfall from an RV is possible, so they're reluctant to call it a scam. That's why it falls to citizen journalism to point these things out. Do you remember who broke the story on Monica Lewinski? It was Matt Drudge from the Drudge Report. He published the story that was spiked by Newsweek because it was too hot. Free Republic debunked the 60 Minutes story on Bush and the National Guard. And for those of you who don't know, it was a guy called Glimdropper at realscam.com who published the info on Rudy Coenen that led to him being indicted on fraud charges. Like it or not, we have been forced into this role by a bogged down justice system and an incompetent media.

      Delete
    2. Maybe they are overwhelmed with what they consider more important issues or maybe it's just plain old incompetence but if they aren't going to prosecute it would seem they would at least put a little more teeth into the warnings. Their so called warnings in any Dinar article I've seen looked like little more than advice to research before investing and some of them almost made it seem legit even if fraught with risk. I have yet to see any Government agency plainly spell it out and some of the articles probably did more harm than good! Maybe if we could concentrate our efforts and zero in on the appropriate agency or news service, maybe both, we might get someone involved that has the clout to get something done. Just wishful thinking I suppose and I wouldn't even know where to start or who to contact but I would sure like to do more if I could.

      Delete
    3. I suspect that fraud is a tough thing to prosecute due to the "escape clause" of the fine print. Civil suits however might e quite different and we might see a bunch of those at some point. The media certainly could do more. Maybe they are afraid of begin sued, but if that is the reason it seems a pretty lame one. Even the Forbes article didn't come fully out and call it scam. I emailed Jim Kramer's show telling him that videos of his show where he just says "maybe" buying dinar could be good is being used to promote a scam and that he could do a great service by clearly stating that its a scam, but of course no response. I emailed the IMF about the fact that their reports describing their monitoring program and the exchange rate that program uses (i.e. the "program rate") is being used by scammers to claim the IQD exchange rate is being held down but again no response. So, at least for now I think its pretty much up to us all to spread the word. Even once it RDs the scammers will just say that "well it was always a possibility", and those that have been careful will not have to answer for the misery they caused. But then again civil actions have a much lower bar then criminal prosecutions.

      Delete
    4. As most if not all of us know Forbes, who is a highly credible financial publication, has written about this being a scam numerous times yet no one else of their caliber has followed suit. That alone says something quite troubling. But to Sam's credit about the media afraid to report it a scam is like playing chicken. When you have fools like Jim Cramer of 'Mad Money' and Erin Burnett of 'CNBC' touting it a good possibility you'll be hard pressed to see any other news agency contest that view because it's the infamous 'what if' factor which is the same selling point for all those who invested at one point or remain invested today.

      Then you have this interview that was on Bloomberg News - "Taking Stock" with Pim Fox. http://tinyurl.com/njfv8rp

      On the flip side you have knucklehead scammers like Kevin Trudeau denouncing the IQD so that in and of itself says a lot about this being a scam. Even he would not recommend wasting money on dinar.

      Delete
    5. dwm,,, you might be onto something. When we want Congress or our government officials either local, state or fed to at least lend an ear we sign petitions or send letters. Ok perhaps our government is not the best example (LOL) but I think you get my drift. I'm not sure exactly how to start this but how about we put all of our ideas together and perhaps draft a really solid petition with real examples from not only our experiences but from the dinar community of those who have been severely impacted such as 'ssmith' post earlier of losing home, family, money, or even the likelihood of people seriously hurting themselves and others ie. suicide or stress destroying them.

      If Sam is willing to do this and doesn't mind us employing his superb writing skills, one way I believe we can do this is by all of us sending clips and ideas to Sam and he arranges them into a draft. Then he can put up a link with the finished product so that we can download and bombard our local minor and major broadcasting stations. Perhaps even make a youtube clip as well. Point others to the video. Just flood the airwaves and e-waves with these real stories. Perhaps even John Jagerson may have an idea or other outlets we can flood. If it gets slammed, discredited, ignored then perhaps there is a major force out there that is behind this entire scam and will explain why the media is not touching it.

      Just a thought!!

      Delete
    6. jrg, Actually Forbes did call it a scam. So at least we can give them credit.

      http://www.forbes.com/sites/jayadkisson/2012/07/30/you-cant-fix-stupid-the-iraqi-dinar-scam-lives/

      http://www.forbes.com/sites/johnwasik/2013/07/31/dinar-like-dreams-can-be-nightmarish/

      Delete
    7. One other thing I failed to comment is although there is a level of public responsibility from our justice system that should play a part in protecting the scammed investors, there is still a personal responsibility for their own actions to not allow greed to overcome logic. Unfortunately, this is precisely what we are seeing among many of the gullible speculators. I have to ask if the RV were cancer or another terminal illness would people suffice with forum opinionated rumors to seal their fate or would they be doing some deep seeking for the truth and healing?

      Delete
    8. vinny, thanks for the info, but alas they have not always taken such a clear line. In John Wasik's article
      http://www.forbes.com/sites/johnwasik/2013/09/06/inside-the-dubious-dinar-revaluation-ruse/
      he leaves the door open with:

      "The ruse is simple: Get dinar buyers to believe that the currency will be favorably revalued soon so they can sell their dinars at a huge profit.

      While that may happen, it’s highly unlikely given the current political and economic situation."

      Its not "highly unlikely", its impossible.

      Delete
    9. "While that may happen, it’s highly unlikely given the current political and economic situation."


      It was that exact tidbit of reckless stupidity that I had in mind when I said some articles do more harm than good! I find it difficult to believe he did that but there it is and it totally ruins an otherwise good article. Total waste of space, everything he said was completely negated by that one line.

      Delete
  13. While it would be nice if law enforcement and media took a more prominent stand, there is the point of individual responsibility. Our family members and others are involved in this of their own free will. And we have done all the research and provided them with facts yet they persist in their craziness. What makes us think media or law would have better influence? Now don't get me wrong I want to see these scum bags prosecuted but I don't see it as a way to get delusional dinarians to come to their senses. In fact they are very protective of the scammers. Believe they are being wronged by our government. It's all part of the world wide conspiracy In fact it hardens the resolve of my loved one

    ReplyDelete
    Replies
    1. Yes I agree it's up to the individual and the fact is that at this point they have to close their eyes to the truth instead of hunting for it like in the beginning and if it were just these individuals getting hurt it wouldn't be so bad, there is however the collateral damage to be considered. Children suffering from their parents' irresponsibility is probably the worst case but then there are the classic cases of the elderly being preyed upon as in most scams plus anytime this much misery is being visited upon such a large group the rest of society has a duty to try and stop it and bring those responsible to justice.


      Vinny, We as individuals sending a single E-Mail to each of different agencies would likely accomplish nothing but what you suggest about a group effort just might have an effect, there is power in numbers! If we could get enough people involved, I for one would be willing to do all I can, then maybe we might get some results so let's hope others will be interested in such an effort.

      Delete
    2. Dmp9501 you make some valid points. While there is always the issue of personal responsibility (after all, nobody forced Bernie Madoff's investors to buy into his hedge fund did they?) there is also the need for regulation and the involvement of law enforcement. I'm really tired of hearing people say "hey, it's a speculative investment ... we all know that" as they continue to promote scenarios that have no basis in reality that are based on distortions of facts and outright lies. Fraud isn't about marketing and hype. It's about misrepresentation of facts such as what was addressed in the indictments of Rudolph Coenn and Brad Huebner. They are hardly alone in defrauding investors out of massive amounts of money, but so far the others have gone untouched, and that's the issue with me. How is it fraud for one guy to lie about his background to sell a bogus investment but it's not fraud for another guy to do the same thing? Also, the defense of the gurus is often being done by alter-egos of said gurus IMO. There is no question that dinar sales took a hit and dinar forum traffic declined after those indictments were handed down. When gurus and pumpers are indicted it tends to wake people up. Certainly not all, but quite a few.

      Delete
  14. Do I detect just a bit of back peddling from Montana? In his Christmas letter
    http://dinarvets.com/forums/index.php?/topic/168264-dinarvets-email-december-22-2014/#ixzz2oPOXL6la

    (besides of course pumping his VIP group) he says

    "The situation with Iraq and their currency is amazingly simple. At this time, the CBI controls the rate unilaterally - there is no outside agency with any control over the rate. It is what the CBI says it is, and that's the end of the story.

    Currently they say the rate is 1166.

    What will it take for them to raise that rate? The answer is simple, once again. In order for the CBI to raise the rate, they have to be confident that they can maintain the new rate. As always, this brings us back to a major key to Iraq's future success as a country... their ability to function as a free country, producing goods and making sales.

    Chapter 7 was a major key in their progress; they are now able to act on their own without the former UN restrictions. The next major hurdle will be the HCL, and all signs are pointing towards that happening in our near future.

    One thing that I think a lot of people fail to grasp is the amazing amount of wealth in the Middle East. Saudi Arabia, Kuwait, Qatar... all extremely wealthy. You can't fly through Dubai International without bumping into a couple millionaires. And Iraq, at one time in recent history, was right up there with them. Although they have suffered a huge setback, they have been working diligently towards the goal of repairing their country and returning to a place of respect and prosperity. "

    In the past he has said a fiat currency means they can set it to anything they want, but now he at least says they have to be able to "maintain" that rate. Of course he does not explain that this means it can not exceed the money supply divided by reserves and instead talks about their economy. He also does say "It is what the CBI says it is, and that's the end of the story.". In reality it isn't what they say that is important (Saddam "said" it was $3 when in reality it was 1000 times worse), but what they can actually offer. He is still completely wrong about Iraq being so wealthy in the past, Iraq's GDP is higher today then at any time in the past, let alone in recent history. But it seemed a bit more cautions than in the past, so I wonder if he is thinking a bit more about covering his behind than in times past.

    ReplyDelete
    Replies
    1. I believe it's the holiday wine (truth serum) speaking and not Adam Montana.

      Delete
  15. if EVERYONE would start filing complaints with the FBI and their local state atty generals office about this, I think things might start happening. I mean THC tony is under indictment now for other things and he STILL is scamming people left and right and has no regard for the law. his fat ass should be in jail and in jail NOW. people like poppy and bgg should be in jail as well. poopy is such a liar or so far out there he's on mars! he continues to tell sheeple that the bible says the rv will happen and he has all these sources and Kuwait rv'd and iraq will do the same! LOL. he was even bold enough 2 weeks ago to start cackling about the dong going to rv within 2 weeks etc.....of course not another peep about it just like he did about a year ago. kept talking about the dong rv and all his secret banking sources.....well guess what, the dog has DEvalued twice since last year. bgg has a history of scamming people online with his golf nonsense and some other business venture where he was accused of being dishonest. funny thing is now, he tells sheep that dinar corp is just an advertising "sponsor"....if that is the truth, then why would he forward email correspondence between himself and me to IVY of dinar corp if they are just "sponsors"......LOL...and further, why would be have something on his site stating if anyone has a legitimate issue with dinar corp to contact him?? if they have a problem with dinar corp they could contact dinar corp, not bgg. plus why would bgg handle issues with a "sponsor" he is so full of crap! then of course he talks about how all the other goo roos are going be in trouble for pumping etc.......when he is the pumper and so is his sidekick poopy! not one thing either of those 2 have conjured up has been true at all. bgg seems to allow poopy to do the predictions and pumping these days but is well aware obviously of the implications that could come his way. he also loves to threaten people with lawsuits with no basis of such!
    it does amaze me though that more legal action has not been taken yet because PLENTY of time has passed to make a case and lord knows all these pumpers love to hear themselves talk with all their hours and hours of conference calls and posts on sites such as recraps, updates and detectives. so again, people just have to keep complaining till something gets done. I think the magnitude of money lost by people including myself is VERY high and def worthy of legal intervention.

    ReplyDelete
    Replies
    1. I have heard more than once that these guys are just exercising their rights to free speech and there's no law against lying (or being stupid!) if it does not defraud anyone, supposedly they aren't selling anything and they do have that silly "for entertainment purposes only" disclaimer but is this really free speech, REALLY??? There is also the old saying that free speech does not give someone the right to yell fire in a crowded theater so if it could be proven, and it looks to me as if there's more than enough evidence, that what these idiots (sorry Sam but that's what they are) are saying does in fact cause a lot of psychological and financial harm then it would seem they could/should be held accountable. Is it too soon to sue for damages before the RD? Maybe if the law won't do anything then the lawyers might, if a class action lawsuit could be brought against these individuals I think they would get little sympathy from the courts and even more so than seeing them in jail I would dearly love to see them destroyed financially!


      Oh well, I guess this morning is not the morning to be carrying on with a rant so I will get off of my soap box now and just wish everyone a big merry CHRISTmas!!!!

      Delete
  16. oh and now poppy is stating that the price of gold keeps dropping and insinuating that the RV is near because of that. then of course he rambles on further with scripture quotes and merry Christmas stuff etc.......these people are just delusional!

    ReplyDelete
  17. Over at DV someone posted an entry from DinarRecaps from Eagle1 (do we know who he is?).
    http://dinarvets.com/forums/index.php?/topic/168353-thoughts-from-eagle1-monday-evening-emailed-to-recaps-12232013/

    Its all about how Basel III requires the Babylon II software to be run at the worlds banks and that capital requirements will be 10% and currencies will be backed by assets as part of the global currency reset. All of course total bunk. Within 30 secs of going to www.bis.org you can find a nice one page summary of the Basel III requirements
    http://www.bis.org/bcbs/basel3/b3summarytable.pdf
    and it clearly shows the new level is 4.5% not 10% and no where does it even contain the world "currency" let alone talk about some goofy asset backing scheme. As far as I can tell "Babylon II" software is also totally made up and of course there is no global entity that could require banks to run some particular piece of software in the first place.
    But over at DV the replies are just how informative and interesting it all is, no one it seems even considers questioning any of it. Its also interesting that Eagle1 says "When I was the president of Union Bond & Trust Company in the 80's". That seems likely to be yet another lie, but with some digging one might be able to find a list of such folks. Though it will take some work as (assuming it is the same firm) Union Bond and Trust is now at least a subsidiary of Morely Financial, so getting back to executives in the 80s will not be that easy so if it is a lie it might be a pretty safe one.


    ReplyDelete
    Replies
    1. Rudy Coenen claimed that he was VP in the foreign currency division of JP Morgan Chase, which was easily disproved by investigators. Anybody can claim to be anything on the internet, especially when they're anonymous. Eagle1 knows that if he wants to prove his credentials and background all he needs to do is give us his name, the years he worked there ... etc. He won't do it of course. People are just supposed to believe him because he's a Christian. Yeah, right. I'll be talking more about Eagle1 soon.

      Delete
    2. "People are just supposed to believe him because he's a Christian."

      That's precisely why these so-called pastors/ministers keep the BS RV bible storyline going. I just posted a link about FBI busting a pastor over investment scam. Using his position and church platform to pump that junk. There are more pastor scams on FBI site also if you just search pastor. Hopefully they will land more in jail.

      Delete
  18. According to this FBI article they are taking very serious investment frauds making it a priority.

    http://www.fbi.gov/denver/press-releases/2013/pastor-pleads-guilty-to-wire-fraud-in-connection-with-5-million-ponzi-scheme

    ReplyDelete

Please keep your comments civil and respectful. No namecalling, insults, or accusations against other participants. Do not post phone numbers or addresses.