Friday, February 7, 2014

Dinar Daddy Post and Rebuttal

The other day one of our regs named DaveD brought to our attention a recent post by Roger Dorman, owner of the Dinar Daddy site and husband of Treasury Vault owner Angela Dorman.  As I read through his thoughts I knew that this tosh had to be addressed.  The words of George Bush Sr. came to mind.  "This Shall Not Stand".  Below is Roger's post followed by my rebuttal.


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Why the Long Faces? Iraq Is On The Rise!

All,
I’m posting this to address the absolute change in attitudes of so many following the Iraqi Dinar and its speculated-about revaluation. The feeling I get when reading what so many are saying about the IQD is so different than what I had two years ago. I’ll provide an example of the issue, problem, or situation I see, then I’ll give my thoughts about that particular issue and back it with a positive perspective. I’m hoping my thoughts shared here will help many gain perspective and retain resolve about the official currency of Iraq.

Roger
"Dinar Daddy"
Dorman
First off, it’s clear to me that the constant pumpers who’ve tirelessly shared their daily prognostications about the imminent revalue of the Dinar (my site’s perennial “Doozies” and “Rumors” dwellers) have really damaged the morale of their followers, and that of the reputation of Iraq’s legitimate currency. Here we are year after year and the same people continue to be wrong. Bad information naturally gives the Dinar a bad wrap.

My take on this?
Well, despite incorrect information and false rumors, the fact remains the IQD has grown in value over the years. What was once valued at 4,000 IQD to 1 USD, is now valued at 1062 IQD to 1 USD. Iraq is only improving daily (Rome wasn’t built in a day, neither was the USA, and China is taking forever but growing nonetheless). So, are you really worried the IQD is a scam? Really?! The only scam happening in this speculative play is coming from those creating false hype and rumors in order to generate interest. Otherwise, sit back, relax, and enjoy the ride of Iraq being “raised from the ashes”.

Secondly, the misfortunes of the few have somehow been placed on the many. What I mean by this is that some well-known “gurus” and posters of information within the online Dinar-following world have occasionally dealt with public matters that in one way or another smeared the Iraqi Dinar by association. Many news outlets in the past have tried to tie them together just because of the common interest but the reality is that whatever their troubles were had NOTHING to do with the official currency of Iraq but with how they handled their business activities and the things they chose to involve themselves in.

My take on this? What transpired publicly with certain individuals had nothing to do with the legitimacy of the official currency of Iraq. Their personal actions, activities, charges, and concerns don’t impact Iraq in the least. I’m sad for all involved. Personal actions by individuals don’t immediately destroy the fact that the IQD has real value and can be liquidated by Dealers or utilized in Iraq. The Dinar currency itself is not a scam. How people present themselves, handle their business, or what they say for gain can be.

Thirdly, somehow speculation around the revaluation of the Dinar has somehow been tied to various timelines. Due to there being so many who’ve given a timeline for when Iraq will raise the value of its currency against that of the Dollar and other world currencies, many have disregarded the currency as a scam because timelines came and went with nothing to show for it.

My take on this? Rome wasn’t built in a day. Why would anyone know an exact time and day? Why would a potential increase in value of a currency that would instantaneously create trillions in wealth across the world be handled tritely in a way that so many would know about it? Why would they they rush the process? The answer… they wouldn’t! The date and time are no doubt in constant flux. There is no doubt a plan for Iraq that meets the needs of Iraq’s citizens. Even the money coming into Iraq from western speculators was thought out and allowed. Yes, each of you who holds Iraq’s Dinars is a part of a bigger plan. Things will happen, but in the time of Iraq and not before.

Bottom line… I believe the Iraqi Dinar will increase in value over time. Regardless of a re-denomination, revaluation, or gradual increase, I’m confident in my holdings. Its up to each of you to come to your own comfort level about what your timeline is, how much you hold, and what you’re willing to do about it. Just remember though, your timeline and threshold for waiting may or may not match that of Iraq and the rest of the world.

Go Understanding… Go Patience… Go Dinar!
Dinar Daddy

http://theiraqidinar.com/tidbits/why-the-long-faces-iraq-is-on-the-rise-238952



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Iraq is on the rise?  Well, let's just ignore the fact that 2013 was the most violent year in Iraq since 2008.  Let's overlook the fact that Ramadi and Fallujah recently came under the control of Al Queda.  Let's forget that over 900 people were killed in Iraq in January.  Let's dismiss the fact that Iraq is considered one of the most corrupt countries in the world.  Let's assume that the economy is growing at 10% or more every year.  Let's just pretend that the government is getting things done at a record pace, that all of the sects and political parties are getting along famously, and that everybody in the country is joining hands and singing Kum Bay Allah.  That still doesn't mean that the dinar is going to go up in value.  Currencies aren't stocks.  They don't go up in value just because the economy is growing.  That's just one of the many lies told to draw suckers into this investment scam.      

So the sentiments of the dinar community have changed over the past two years, have they?  Hmmmm ... I wonder what could have contributed to that?  Let's see ...... what happened two years ago, Roger?  Could it be a certain blog was launched?  Since January of 2012 the owner/guru of one of the most popular dinar forums was exposed as a fraud.  A ton of information debunking pumper lies and revealing the truth about the dinar "investment" and the people promoting it has been made easily accessible to the dinar community.   Also four dinar douchebags have been indicted and there have been two dinar fraud convictions.  In addition to all of that there were about a thousand failed RV predictions from gurus featured frequently on sites like yours, and the dinar hasn't even gone up 1% in value.

As for your Doozies, if you're so concerned about the impact on morale caused by this nonsense why post it on your site?  Could it be the traffic those lies rumours generate and the advertising dollars that they produce?  The bad wrap [sic] isn't just the result of the BS intel, though.  It's also the result of facts being presented to the dinar community that weren't so readily available a couple of years ago.  Facts like the growing money supply in the tens of trillions and the stated plan to demonetize the IQD upon redenomination.  Facts like there was no RV in Kuwait or Germany, and the largest revaluation in history was 35% which would barely even cover the spread of buying dinar through a place like the Treasury Vault.*  Hard to be upbeat after discovering those annoying little facts.

Speaking of misinformation, the IQD was never valued at 4000:1 Roger.  That was the old Saddam dinar's market value.  The IQD was introduced at around 1500:1 and is currently at 1166:1, not 1062:1.  The vast majority of the increase in value came as the CBI placed the IQD on a crawling peg exchange regime in a successful effort to bring down inflation, then they went back to their policy of stability which they've been on for five years now.  The increase had nothing to do with economic growth, and the fact that the dinar community is getting educated about this is probably why many people are walking away from the dream of instant wealth from a fantasy RV.  That fantasy is the scam, Roger.  Nobody is going to get rich from a redenomination, and any gains from revaluation will likely be wiped out by markup and exchange fees because currencies don't revalue enough to overcome the nearly 20% spread dealers are charging.  

The "certain individuals" that got into trouble were charged with fraud, Roger.  And part of the fraud charges were lying about the CBI's currency reform plan which is a redenomination and not a revaluation.  One of them lied about being a former VP at J.P. Morgan Chase, too.  They also lied about the US Treasury holding trillions of dinar and EO13303 protecting dinar speculators.  Sure, the dinar has value and the currency itself isn't a scam.  If you're planning to visit the wonderful tourist spots of Iraq on your next vacation you might want to pick up some dinar so that you can make some purchases with it when you're there.  But you're not going to get rich by holding dinars any more than you are going to get rich by holding Mexican pesos, and anybody who sells you dinar by telling you that is a scammer.

Timelines?  Yeah, I guess some got discouraged because timelines passed with no RV.  But come on.  If a person truly believes that the dinar is destined to go from a tenth of a penny to a dollar in value wouldn't they hold on regardless of failed timelines?  I certainly would.  Even if it took 20 years that's a heck of a profit.  (100,000% increase divided by 20 years = 5000% annual returns.  Sweet, huh?)  The bottom line is people are giving up because it doesn't make sense and they eventually figure that out.  It's not about timelines.  It's about math.  You can't back 85 trillion dinar with $80 billion in foreign currency reserves and still have room to revalue enough to make people rich.   

Trillions in wealth?  See the paragraph above, Roger.  The needs of the Iraqi citizens will be met with a currency that is easier to use in daily transactions, meaning fewer zeros.  That will be accomplished by the proposed RD (lop).  If the assumption here is that this RV will give the Iraqis wealth, that's assinine.  You don't RV your country into wealth.  Wealth comes from work, from progress, from education, and from stability.  It doesn't come by waving an economic magic wand.

The Iraqi dinar will not increase in value over time unless the CBI changes their policy of exchange rate stability (Annex 1 page 3), and there is currently no indication that they intend to do that prior to replacing the IQD.  

Go Understanding… Go Common Sense ... Go AWAY, Douchebag! 
-Sam I Am




* Currently one million dinar from The Treasury Vault costs $1010 (40 $25K notes).  A 35% increase in the buyback price of $800 would be $1080, leaving a profit of $70 before shipping fees.





50 comments:

  1. Great article Brian keep them coming. You're doing a great job waking up the dead heads.

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    1. Hi Kenny, as much as I'd love to take credit for this awesome rebuttal, it was actually written by Sam (the site's admin) not me.

      Why "Dinar Daddy" lies about the obvious "What was once valued at 4,000 IQD to 1 USD, is now valued at 1062 IQD to 1 USD" is beyond me given anyone can see its value on xe.com - still over 1160:1. Reading the general underlying "tone" of DD's rant, it sounds a lot like he's desperately trying to cheer-lead it after a fall in customers / web traffic due to an increasingly number of people who've been hooked on this for years waking up and no longer seeking guru's "advice". Even the best lie in the world starts to wear thin when told every week for 5 years solid. Great news if that's the case :-)

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  2. Good work, Sam. I read his garbage and wanted to post a rebuttal myself. But, of course, he shut off the comments section of his website almost a year ago. Strange for a guy that claims to be interested in transaparency. He wants to be the home for "All things dinar". All things except the truth, I guess. If he were honest he would say that the real reason he continues to post all those garbage predictions is that they increase his dinar sales. As a money service business, he benefits every time some poor schlub gets hyped up by those lies and scrambles to buy dinar before it's "too late". Just today, I see he made another ridiculous post about the mechanics of a currency exchange that can explain how wealth can be created "out of thin air". He claims it was developed by an economist (no name or location, of course). It's recycled gibberish from years ago that shouldn't even pass the smell test by now. This "economist" sees no problem with the federal reserve simply posting trillions of dollars to bank capital accounts as people cash in their dinar. It's laughable. Wealth is not created out of thin air and no economist would ever suggest it is. Obviously, if it was, there would never be poverty in the world. The poorest countries could just revalue their currency to whatever they wanted and make their citizens wealthy, right? Unfortunately, this garbage will probably get picked up and re-posted by a bunch of users at other dinar sites and, without a doubt, some poor schlubs will read it, get all hyped up and go pay a 25% premium for dinar (hopefully from The Treasury Vault). Just as Roger intended.

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  3. It was a couple of us that caused him to shut down his comments section. We were wiping the floor with his arse and it wasn’t good for moral.
    Something’s up with our buddy Roger.
    When he and his wife took over Treasury Vault is about the time he stopped posting and his site always had a link to Treasury Vault on it.
    I think there is a pretty clear line on this. I think you can sell dinar but make no claims about it. Or you can make stupid false claims about it, but not sell it or profit from those claims.
    Well… now Roger feels the need to get back into the pumping mode, and I don’t seem to see those Currency Vault ads on his site any longer.

    After Rudy and pals got indicted, Roger came out with a “I see the light” post. He made it known that he thought all the articles coming out of Iraq were talking about a lop/redenomination and that’s what he felt Iraq was going to do. It was a major “cover my arse” post.
    I really wish I could find that post he made. It was about the same time Ali caused a stir while doing a conference call and saying that anyone who expected a huge RV was on drugs.

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    1. Thanks Sam, probably about the same time basically the same context, but no it was a text statement he posted where he said he believed it would redenominate and all the articles to date were in fact talking about a redenomination/lop.
      Now back to the link you posted. I'm not wasting a 1/2 hour of my life listening to Dinar Daddy, but I did scan through it and at the 17:00 mark he tells quite the lie. He tells people that if they redenominate it will only be the 1000, 5000, 10000, and 25000 notes that will be replaced, and that the 500 and smaller notes will remain. That sounds like the type of misinformation that a guy who owns a currency company selling dinar could get in a lot of trouble for.

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    2. Hey Sam, the link that you posted takes you to a blog radio broadcast and I guess that you have to listen to what he has to say. However if you go to his site: http://theiraqidinar.com/ and then look over on the right hand side there is a column titled "Tidbits from Dinar Daddy" and the first article there is one titled "The Logic Behind the Dinar Revaluation Explained Dinar Daddy". I think this is the article possibly in written form. It is a joke, I have never read anything like it in my life, and I really want to meet the economist that things money is made this way. Believe me I have been with a bank for 15 years now, and this is not how it works.

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    3. Yes, that was around the time him and Brietling were pumping the lower denoms.

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    4. DaveD - How about this one? Dinar Daddy: Preparing for All Scenarios It seems that this was removed from the Dinar Daddy site.

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  4. O how our "believer" buddy is probably wetting his pants right about now after reading the masterful dinar pump by Dorman. This is the exact economic ignorance that he thrives on.

    The part that stuck out to me was the "creating trillions in wealth". Really? Like has already been pointed out.....if trillions in wealth could be created this way then what is everyone waiting for? Anyone with half a brain (that leaves you out DB) could easily ask that question and come up with the common sense answer which proves that the dinar RV is bogus. There simply is no such thing in economics no matter how much Donlop rambles pointlessly about irrelevancies.

    I guess Roger needs a little uptick in dinar sales right about now. How convenient for him that all it takes is spouting off lies....I mean opinions about the dinar to achieve his sales goal. Kind of like how Dontlop does for his bosses everyday on DV.

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  5. Lol.......Fib just posted Brians write up on the GCR lie over on DV and the confused are in a panic. At least Dontlop had the brains to not go into the Swiss dinar pointless endless ramble he is so good at. As a matter of fact he was quite speechless for once other than the why are you here cop-out. Hahaha.....of course a certain "believer" chose not to "believe" the facts as written by Brian and remains in dinar coma.

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  6. So now we have talk that the conspiracy of this and the screwing of "regular folk" dinar holders will be exposed on the Sunday shows TOMORROW !! What is the scoop on that??
    smh....,

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    1. The last time I recall these idiots talking about the Sunday morning talk shows it was how Jack Lew was going to talk about the RV. He didn't, of course. I'm sure that this time tomorrow everybody will realize that this idiot is just as wrong.

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    2. I just wish this whole debacle would come to an end. Today my EX-fiancé {who I broke up with over the RV ISSUE, but who I still love, because you don't just stop loving someone because they are gullible}, called to tell me to be sure to tune into the Sunday shows tomorrow because "it" was all finally going to come out... the truth... and he would finally be coming into his "pay-out" . Then he and I can get back together and ride off into the sunset! I pressed him rather hard about the validity and there was no shaking him. He is ADAMANTLY convinced this WILL BE THE TOPIC of THE Sunday shows tomorrow. I just kept saying "Really! Really? You really truly believe that?" And he said he was never more sure about anything than the truth in that. CMON!

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    3. Okay, here's the listing for Meet the Press. And here's the listing for Face the Nation. And here's the listing for ABC's This Week. Looks to me like it's all going to be about the winter olympics, Obamacare, immigration, Chris Christie, and Hillary Clinton. I don'to see anything about Iraq or a GCR.

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  7. If the Sunday morning shows did talk about the Dinar it would be about how its a scam. Regular folks are getting screwed alright. Sad thing is a show dedicated to the Dinar scam would be seen as a positive for the confused. It would be "smoke" from the PTB to keep people from "investing" in the Dinar.

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  8. WOW!!!!!!! Dontlop just said that Brian doesnt understand money concepts. This coming from a guy who thinks Iraq is going to back the dinar using roads and bridges and that Iraq is removing 37 trillion dinar from circulation by selling gold. ROFL

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    1. LOL. The guy's an obvious shill. He has no other answer. His claim "If you use the oil to back your currency Then as you sell the oil the dollars go to the reserves as the oil supply gets smaller so there's always the same amount of backing" is utterly worthless as 95% of Iraq's oil revenue gets spent on domestic govt spending, police & army wages, healthcare, education, security, infrastructure, etc, not 100% donated to the CBI. If he can't even figure out something that basic after 6,500 posts, what does that say about the "quality" of his knowledge... ;-)

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  9. Oh and he also said the recent decisions by some congressmen not to run for re-election is because they have already illegally "cashed in". And that there is another 40 to 80 who have also been "paid" and will be resigning as well!!!!

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    1. From an anonymous commenter. .......... This is to Dmp9501. Your ex must be a Tony Turd tweeter, Tony tweeted watch the morning programs Sunday and the tweeter world started tweeting that they would be talking about the RV, insane. My first 2 twitter accs were suspended because I replied to some trolls and they made a complaint and after 2 complaints they suspend you. I've learnt and now I reply with my own tweet instead of hitting their reply button lol. I've finally broke through to them last night when after tweeting 250 times just with this acc using various tweets when this girl Kathy said how could I keep tweeting when 5,000,000 people hated me and I started a number of tweets to her saying I was the one that Tony Turd gave out my number to 5000 listeners and told them to call me and call me a dumb ass and 300 did and I started texting and calling these people and the horror stories they started telling me gave me the resolve to put this scumbag in jail. I tweeted about 8 stories that was told to me over the phone and all of a sudden people started to retweet everything I said. I've gotten 10 followers now that was Tony Turds sheeple and I've tweeted his court case bit.ly/tnttony and the victims stories from his 14 daily plus scam ripoffreport.com type Tony Renfrow and not tooting my own horn have seen a big difference in the amount of tweets from #wearethepeople tnt tony. I hope Dmp9501 that your ex was one of them that woke up but like I've tweeted Tony Turd is one of the best conman I've ever seen and I've seen a lot in the MLM game. PEACE

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  10. Could you guys help me out on something? I just got an email asking my opinion on this. It was apparently written in Arabic and translated into Spanish. A couple of Puerto Rican gurus are saying that this proves the naysayers wrong. Take a look and comment, please. Thanks. https://www.facebook.com/notes/james-a-mendez/fmi-compra-mas-de-350-millones-en-dinares-12102013/10152269091357803

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    1. Most likely Bluwolf one of the PR gurus scumbags who uses the religious platform to attract followers. He's a graduate of Okie's Anus-Spew Academy.

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    2. From original Arabic article:-

      "The General Secretariat of the Council of Ministers of the Council of Ministers decided that the minutes forty-fifth regular meeting held on 12.10.2013 approved by the Ministry of Finance to pay the contribution of the Republic of Iraq to increase (14) of the resources of the International Monetary Fund.

      And showed the Department of Cabinet Affairs, the Office of Information and Communication, state reimbursement will be according to the three mechanisms, the first: the proportion (25%) and of (118 850 000) one hundred and eighteen million eight hundred and fifty thousand special drawing rights are in dollars.

      The second ratio (75%) of $ (356 550 000) three hundred and fifty-six million five hundred and fifty thousand representing the rights of a private local currency deposited in the Fund's account at the Central Bank of Iraq.

      The third is to inform the International Monetary Fund to increase formally by the CBI.

      The contribution of the increase in Iraq lead to maintain the voting power in the International Fund in proportion to the amount of a contribution."


      ROFL. So someone posts an article about Iraq's SDR's (which total just 1.188bn or worth around $1.826bn), and RVaholics thinks that means it must "support a $300,000bn RV" and "proves the naysayers wrong". Enough said about the average literacy skills of the average Dinar "investor"...

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    3. If literacy were the only issue I would pardon their ignorance. But these Dinar RV dreamers have been in the desert too long seeing RV Mirages in every article simply because they want to justify their stupidity which just is unfathomable to the average logical being. This whole thing is just like a combination of AIDS and Cancer like symptoms combined. There is no cure for some of these people.

      I had a friend who's mother had emphysema but refused to quit smoking because she was confident that by cutting back on smoking it would heal on it's own and go away. She'd even resort to light version of the cigarettes because it would be lighter on her yet all the while she was making the matter worse. All of the help was available to her but she did not want to reason or accept the truth that she needed help. She did not want to face reality and in the end she passed away.

      Like her, I see this analogy very fitting because though the investment does not kill or at least should not, these people fail to see the truth because they refuse it. There has to be a way that the emotions are satisfied. Much like an alcoholic / drug addict / gambler addiction can kill by way of slow and deep depression ultimately.

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    4. Probably why the gurus are making it for now in Puerto Rico as a glimmer of hope to the RV dreamers. I hope Bluwolf is the dude under the stairs in the picture.

      http://www.nytimes.com/2014/02/09/us/economy-and-crime-spur-new-puerto-rican-exodus.html?_r=0

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  11. I hit the translate button in the top left corner and it looked like it was written by millionday from recaps a, a bunch of gibberish lol

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  12. Even after translation its not clear what it says. However transactions with the IMF are nothing new.
    http://www.imf.org/external/np/fin/tad/extrans1.aspx?memberKey1=460&endDate=2013-12-31
    The last news release about Iraq was from Nov 2013 about letting them slide on being somewhat out of compliance on something.
    http://www.imf.org/external/np/sec/pr/2013/pr13464.htm

    Transactions with the IMF in no way implies the IMF thinks the currency is going to appreciate at all let alone do an impossible RV. In fact it means the IMF thinks your currency and economy is being managed in a reasonable way (i.e. not "hugely undervalued" as so many believers like to say).

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  13. You know what. It's all going to be over Monday. :) Yes...Monday. because TNT has said this is the last weekend on this dinar. It's going to RV this weekend. I know...LMAFO...another date he has been told by his "person at a 3 letter agency" from Washington. When are people going to just realize they have been had. I hope they continue to invest and waste time and money...but when they go for welfare because they have no money...we should make them cash in their Millions of dinar to support their families...or just send them to Iraq to live since they'll have enough to live there.

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  14. Would someone on DV please answer Dontlops stupid question so the he will STFU with his endless ramblings?

    Could they go to the cbi before October 15 2003 and get 150 times the IQD official exchange rate for the Iraqi Swiss dinar ? Read more: http://dinarvets.com/forums/index.php?/topic/171449-are-they-talking-about-removing-35-trillion-in-dinar-out-of-circulation/page-14#ixzz2sqZauYK3


    The answer is no because IT WAS THE DAY BEFORE THE REDENOMINATION!!!! The day of the REDENOMINATION they could in fact go into the CBI and exchange the Swiss Dinar at its DETERMINED CONVERSION RATE BY THE CPA. Not by the CBI who at the time had no control over the decisions being made about the exchange. So......it was a REDENOMINATION of the Swiss dinar. End of story. Of course Dontlop will go another 6500 post yapping about the same lie. The guy is a joke. His little sidekick is freaking out about past screen names. What is his obsession? I guess since he has zero argument he has to resort to whining.

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  15. Dontlop's claim is that if the Swiss Dinar was never demonitized (and I have seen no docs that indicate that it was), then 1 IQD is 1 IQD, whether Swiss or Saddam, so then the Bremmer exchange would be a 150: 1 RV of the Swiss Dinar. No docs are needed, its quite easy to prove this can not have happened. The fallacy here is that clearly in the months prior to the Bremmer exchange you would not be able to go to a bank in the south and exchange Saddam Dinars for Swiss Dinars at 1:1 as the bank would not have had any Swiss dinar to exchange. An exchange rate is only meaningful if its actually offered, not just advertised (there were years after all where Saddam claimed the rate was 1 dinar to $3 USD, but in reality the CBI was exchanging 2000-3000 IQD for $1 USD).

    We know that in the north Swiss Dinars were worth 150 or more Saddam Dinars in late 2003 just before the Bremmer redenomination. So if you could get Swiss dinars at 1:1 in the south and sell them for 150:1 in the north, for each such trip you make at least 100 times the initial amount. In 3 trips you make 1 million times your money, in 6 trips its a trillion times your initial money. So this never could have happened as it would have sucked all the wealth out of Iraq in just a few days. (In more technical terms I think this would be called a violation of the One Price Law in economics).

    If the Swiss Dinars were allowed to continue in the south alongside Saddam dinars, they all quickly would find their way to the north where they could be sold for a profit. Since no new ones could be printed, as soon as they started to become more valuable in the north the entire stock available either from banks or in the market would move north. So by the time the Bremmer exchange came around there would long since be no Swiss Dinars available anywhere at 1:1 with the Saddam Dinar (I doubt there were any available at any price in banks in the south). So even if on Saddam's CBI books both notes were officially legal, if you can't actually get them it makes no difference. Again exchange rates are only meaningful if they are actually offered. The Swiss dinar essentially became a local currency for the north, and was then redenominated along with the Saddam Dinars using purchase price parity as the guide for value.

    Dontlop also likes to say this shows reserves are not needed to back pegged currency as what was backing the Swiss at 150 times as much (as if they would need 150 times the reserves)? Well again its easy. Saddam printed at least 1000 times more currency, so by the time of the Bremmer exchange the Swiss Dinar represented at most 1/1000th of M0. So even at 150 times the rate that the Saddam dinars got in the 2003-2004 redenomination, that still is an increase to M0 of only 15%. Clearly there were sufficient reserves to back that.

    The key limit for a pegged currency is reserves divided by the size of the money supply. Its the very definition of a pegged currency as one in which the entire market for the currency is sourced by the central bank instead of the market as with a floating currency. It can always fall below that (like what may have happened to the local spot price for the KWD when Saddam invaded). The Saudi's keep their rate about 3x below the limit, while Iraq's is only about 15% below. But it can never go higher than this. Can you imagine the stamped to the banks if the CBI were to announce that the new rate is 1 IQD for $1 USD, but oh by the way we will only be able to offer this rate to around 1/1000th of IQD holders and the rest will get 0 as then the CBI will be insolvent. Yea, that'l work! not.

    No matter what anyone wants to call events around the KWD during and after Saddam's invasion, or the events with the Swiss Dinar and the Bremmer redenomination, the key fact is that at no time in any of these cases did any exchange rate for any of these currencies exceed reserves divided by the money supply. It won't do so for Iraq now or in the future either.

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    1. THANKYOU jrg!!!!!!!

      Someone please copy and paste this at DV so Dontlop can shut his lying mouth. With your permission of course jrg.

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    2. I see fib1618 posted it, but of course dontlop just ignored it and continued with his nonsense as usual No surprise there. Though this got a little chuckle "I saw he sold his dinar a few months back and left dinar vets". Yea, more like 2 yeas ago and was then banned (a half dozen or so times) from DV for telling the truth about the mythical RV. You can lead a believer to knowledge but you can't make them learn.

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    3. Dontlop is just using the Swiss Dinar RV lie as a diversionary tactic. He thinks the more he spouts off garbage that can be construed as a RV then his victims will be less likely to question the actual possibility of a giant RV. As long as he keeps them thinking that maybe there is hope then his job is done. As a low life dinar pumper, Dontlops whole agenda is to create the illusion that massive RVs are a real thing and he does it using misinformation and fraudulent skewing of historical facts.

      Even if the Kurds were using seashells as currency without any "official" exchange rate like Dontlop keeps crying about and the CPA came in and said....OK.....you now have to turn in your seashells in exchange for A NEW CURRENCY at the same value in which you are using them now as trade then does that mean the seashells just RVed massively? No.....that is a redenomination of currencies. Period. The Swiss Dinar was basically an item the Kurds were using as barter which Dontlop refuses to acknowledge. Basically the CPA bought all of the Swiss dinar in an effort of fairness for the exchange. How that is an RV is beyond me. The Swiss dinar were worthless after the REDENOMINATION so how could they have RVed? Like I said.....its all just a tool Dontlop is using to keep people confused enough to believe in the impossible. Just like the backing with roads and bridges and selling gold to remove 37 trillion dinar from circulation and now he is suggesting that the IMF is going to "lend" Iraq trillions of dollar using oil as collateral. Lol. Someone called him out on that one in the mains and he panicked and went on a long winded pointless speel.

      Delete
  16. Wow Sam yes! Your right he is a Tony tweeter! So your saying he would have also received your tweets??!! Oh my. That must have yanked his chain!!!

    ReplyDelete
    Replies
    1. So what's your ex excuse now? Sunday shows? Did I miss the truth about the RV lol?

      Delete
    2. Damn it I missed the live RV being televised!!! The once in a lifetime chance and I blew!!! After all of the warning from the wonderfully connected and talented gurus who've been warning us for several years it would RV on a Sunday. I don't know how I'm gonna live with myself now.....

      Delete
  17. Why does Dontlop keep lying and no one calls him out on it? Over and over and over he keeps saying that Bremmer gave the Swiss dinar an official exchange rate. Really? His own link proves otherwise. The Swiss dinar was given a CONVERSION rate for the REDENOMINATION.


    Unless you think they just gave the Swiss dinar a official exchange rate with absolutely nothing backing it up Read more: http://dinarvets.com/forums/index.php?/topic/171449-are-they-talking-about-removing-35-trillion-in-dinar-out-of-circulation/page-16#ixzz2sw7VANOB


    During the exchange period at the new exchange rates set by bremmer at 400 dollars per million what is the exchange rate Read more: http://dinarvets.com/forums/index.php?/topic/171449-are-they-talking-about-removing-35-trillion-in-dinar-out-of-circulation/page-16#ixzz2sw8Q4fDs


    There was. Ever two official exchange rates until bremmer by decree gave Iraq two seperate official exchange rates Read more: http://dinarvets.com/forums/index.php?/topic/171449-are-they-talking-about-removing-35-trillion-in-dinar-out-of-circulation/page-16#ixzz2sw8fZRDK


    But I can show them where in history the official exchange rate was changed by Paul bremmer on October 15th 2003 Read more: http://dinarvets.com/forums/index.php?/topic/171449-are-they-talking-about-removing-35-trillion-in-dinar-out-of-circulation/page-16#ixzz2sw8smXvF



    Total proof positive that Dontlop is a liar.

    ReplyDelete
    Replies
    1. No-one calls Dontlop out on DinarVets because the entire forum is run like a cult in a "highly-controlled" environment, and cultists never criticize other cultists for fear of being booted out of "the clan" or upsetting "Dear Leader" James Wolf / Adam Montana.

      And no-one calls him out here much because everyone here already knows he's a total raving lunatic almost completely divorced from reality on virtually any issue to do with currencies, Iraq or Kuwait, and it'll end up about as fruitful as arguing with the nutter who gets on the bus and shows everyone his "homemade nuclear reactor" (a tin of corned beef)... ;-)

      You can show him the truth all you like. He's made it clear he prefers his own "internal" fantasy fabrications to reality. This is a natural reaction of someone who's basically gone into "panic mode" once reality becomes too harsh a world to live in. Sadly, there are a number of people who are going to go through some mental nervous breakdown when Iraq eventually redenominates. DL & DB being two of the most likely who are already showing strong signs of an ongoing disassociative disorder.

      Delete
    2. True Brian.......it just eats at me to see him get away with the dinar fraud that he perpetrates daily over there. A few have done a decent job of pointing out his lies. I just wish it could be more. Notice how lately he has called for Keepem and Fib to be banned? Lol......big shocker there. The gutless dinar pumping scumbag needs his daddy James Wolf to protect him from any intelligence that could expose him.

      Delete
    3. Dinarck here's what you can do to baffle those mental midgets. Make a totally off the wall comment about how the accurate Pygmy calendar prediction on climate change has had an adverse on the exportation of natural gas in Qatar which eventually triggered the Sunny - Shiite revolt in Kurdistan.

      Delete
  18. Callingfoolsout: admits there was no RV announcement on news shows. No explanation. But sent me a text that his paperwork for release of the exchange is bring prepared as we speak!!
    You know those of here find this all incredulous!! We criticize, jeer etc. and justifiably so. But take pause for a moment and realize these are REAL PEOPLE MY ex for example appears as normal and sane as anyone. It's only on the topic of the RV that he becomes something unrecognizeable. I have watched him transform before my eyes into a delusional nut!! It is frightening! Because he is otherwise so "normal" it has taken me a long long time (over year) to finally accept he is very sick and thus break up with finality. It has been a very strange experience and one I would have never imagined would be any where on the landscape of my life!

    ReplyDelete
    Replies
    1. You need to marry a legitimately broke guy and not an imaginary wealthy guy. LOL

      So sad people are willing to release the bird in hand for two in the bush. Greed is a deadly cancer.

      Delete
    2. Hey Dmp, I've been tweeting your ex since last night telling him you're waiting for him if he wakes up. I've tweeted him about 20 times and the last 3 used the name Callingfoolsout Is that the name he uses? I do know these people who are in this fairy tale are smart people that somehow has got lost in a dream that has turned into a nightmare. I've talked to quite a few people that with my help woke up and they were in shock None of them have talked to me since they woke up because I think they are embarrassed and confused how they could of been had. So I'll keep tweeting him and hopefully can wake him up Out of 400 tweets I've probably woke up 30 people so it's not easy. They don't want to give up on the fairy tale of them being multi millionaires PEACE

      Delete
  19. Well...I am saddened today that the weekend has come and gone and no RV. But I am yet again excited that it will now be Today!! :) I know. You all needed a good laugh. I was seeing that Recraps posted from someone that now it's today...but be patient if it's not as this could take time. A bunch of currencies had changes over this past weekend...blah blah blah. I wondered how they were going to spin yet another failed timeline. I actually don't know what I'll do if I ever get to a point that I don't have this humor in my day.

    ReplyDelete
  20. Lol at easyrider. Someone grab me some tin foil please.....


    easyrider → dinarbeleiver
    GCR is coming hang tight dont let these guys tell you diferent. If any of them trade on the forex they are scared and its their worse nightmare come to life. This has been a plan for quite sometime i have been told to go back to gold standard the fiat system was destined to fail and they knew this.
    Today, 04:37 PM


    easyrider
    anyone that believes we wil continue under the fiat system and continue to borrow and print is sadly in for a surprise. If you pay attention to world economy news it doesnt look pretty.
    Today, 04:38 PM


    Read more: http://dinarvets.com/forums/index.php?/user/43314-dinarbeleiver/#ixzz2sxiqMFoi

    ReplyDelete
  21. Another gem from easyrider lol

    that 30 trillion in circulation is comical they are lying straight out of their a$$es. I have told many of you watch what they are doing NOT what they say. They are setting the stage to go international and have worked hard to get their banks on par to be Article 8 compliant. The next step is to add true value to their currency and the rest will fall in place. Ask your self this why are countries spending millions to get their way into Iraq? why is the london stock market taking interest in Iraq? do they know something we dont?

    Read more: http://dinarvets.com/forums/index.php?/user/21974-easyrider/#ixzz2sxjcJEgz

    People actually listen to this moron. But it's DV and it's a cult filled with paranoid conspiracy idiots. Pathetic

    ReplyDelete
  22. Just a question. All of this back and forth from dinar vets to here and back has struck a "hmmm" nerve. Why do those sites even have a "lopster" forum? Now I don't go to all the sites but I know of two for a fact wgich do and that's dinarvets and dinar detectives. Are they using the "lopsters" in those forums as a tool? Meaning are you guys over there pointing out the fallacies in the way they think, providing links and other facts, providing those guys a way out of criminal charges? Can they say, "well hell, I have a section pointing out what COULD happen." Just an observation. If they really wanted to only push the rv or float agenda then why have a "lopster tank" at all? Why not simply completely ban all lopsters and not have anything on the site showing an rd?

    ReplyDelete
  23. Even Dontlop admits that the whole KWD and Swiss dinar events "has no bearing what so ever on the dinar we hold" (http://snipurl.com/28keoq8). Of course that isn't quite accurate, as they are yet another data point confirming the reserves/money supply limit of the exchange rate of pegged currencies, but dontlop will never admit that either.

    I think he just likes to call others ignorant etc and has latched onto these events as if he understands them while no one else does. There is no point in getting into it as he will never actually debate the points (and perhaps he is not capable of doing so). I know its frustrating to see such idiocy heralded as truth, but you just have to let it go.

    As for why DV maintains a lopster tank, I'm just speculating but I suspect its to perpetuate the myth that DV allows multiple points of view, but to not allow such views to "infect" the rest of the forums. Few folks there visit the tank so it keeps a lid on the truth about the RV, which otherwise would be popping up all the time.

    ReplyDelete
  24. Mike Diston: Omg are you kidding me with the tweets? Too funny!! Well he hasn't shared any if them with me
    At any rate he's "standing by" for his any minute now new wealth!!

    ReplyDelete

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