Another Douchie for Davey

Well Davey is back.  That's right, March Douchie winner Dave Schmidt decided to respond to winning this illustrious award in a video where he was also forced to give an account for why he was booking and attemtping to book some less than credible gurus on his call-in show.  During the video he said:

Dave Schmidt

"I had a distinction this week that I guess I would consider it as a badge of honor.  I've been put on what is called the Dinar Douchebags blogsite as what is called the dinar douchebag of the month.  You know folks, when you step into historic changing events there's always critics.  There's always doubters.  There's always those that want to complain, want to criticize, and want to call this a scam.  First of all this can't be a scam, because a scam is when you're defrauding people out of money."

First of all, I've been on both sides of the aisle. I owned dinar. I believed in this thing until I finally got around to doing my own research and discovered that almost everything that I was told was a lie. So I'm not just a critic or a doubter or a complainer. I'm a guy who woke up and recognized the RV for the scam that it is, and once I knew it was a scam I knew that those who were promoting it were scammers. In the two and a half years of this blog I've shown time and time again that scammers are drawn to the dinar like flies to schmidt.  And yes, it can be a scam. I've listed dozens of organizations that have referred to it in exactly that manner. A scam is defined as a fraudulent business transaction. The fraud in the case of the RV is creating the expectation in speculators of an unprecedented 100,000%+ increase in the value of the IQD by a decree of the CBI. Pegged currencies are never revalued by more than a few % at a time. The largest RV in history was only 35% over an eight year period. The fraud is also based on lies told to convince speculators that this unprecedented increase is going to happen. The DOJ listed some of these lies in their case for fraud against Brad Huebner and Rudy Coenen. "EO13303 gives speculators the right to invest in the dinar." "The US Treasury holds trillions of dinar." Those were among the charges in the indictment. Also, Rudy lied about his background to convince people that he was a currency professional. That's fraud, too and was also included in the indictment. I've listed many other lies in my page "Forum Facts". So enough of this BS about "this can't be a scam". It can be and it is. That's why Rudy is now convicted and Brad is facing trial for fraud.

"The other thing is critics are those who usually are very quick to shoot from the hip, and they refuse to do their homework.  I'm going to be very honest.  They're lazy.  They wanna be angry, they wanna be mad, because down inside they wanna believe that it's too good to be true and they just won't do their homework."

Actually I wanted to believe that it wasn't too good to be true.  Who wouldn't?  But the facts indicated otherwise.  As for "lazy", I can tell that Davey hasn't read much of my blog or he wouldn't make such an ignorant statement. Even my critics will acknowledge that I've done extensive research. They might not agree with my conclusions or my style, but I've never had anybody say that I'm lazy. Not doing my homework is what got me into this mess. Doing my due diligence (a bit late, unfortunately) got me out of it. Over the past two and a half years I've posted about 250 times on everything from the (often fraudulent) backgrounds of the gurus to charts for the dinar and other currencies to IMF statements to the definitions of economic terms to the redenominations of the Turkish lira and the Brazilian real to an exposé on eight months of dinar commentary by Breitling which took me about four months to compile and which yielded a plethora of debunking material for future cases of dinar douchebaggery. So don't tell me I'm lazy and haven't done my homework. If anybody is lazy it's people who go by intel and rumours and never have any facts to back up their hype. If anybody is lazy it's people who try to make money off of "millionaire" seminars and donate buttons rather than earning a living by being productive members of society. With what I know about the dinar I could easily make a six figure income by misleading people, but I like to sleep at night.


In a previous video Davey had announced that Okie was going to be on his program, and when Okie was a no-show Davey's explanation was that Okie's life was threatened, a claim that was quickly debunked by fellow douchebag TNT Tony. It's pretty bad when a sociopath like Tony has to call you on your BS. (And now another sociopath "frank26" is calling Tony on his BS.  Hilarious!)  This was obviously a ploy by Davey to attract listeners and gain some guru creds, but it seemed to blow up in his goatee-adorned face as a firestorm of criticism erupted over the call.  Davey ended up pulling the show (which included a "U.S. Treasury informant" providing details about the ongoing cash-in) off the air for "legal purposes".   No schmidt!


Anyway, since Davey seemed to embrace his March Douchie I figured I'd grant him another for April.


For more info on this month's winner, Mike Diston and our friends at Mr. IQD have some great commentary on this guy.  Check it out.

http://mriqd.com/2014/03/28/rant-respected-state-senator-has-fallen-to-hack-guru/

Dinar Trade / Xchange of America

Ali Agha

Many in the dinar community have noticed that Dinar Trade just announced that their business would be conducted by Xchange of America. I think most assumed that this was just a name change or a restructuring of Dinar Trade, but apparently there's a bit more to it.


 If you'll go to their website at www.dinartrade.com/ or www.xchangeofamerica.com/ you'll see at the bottom that they're located in Stuart, Florida which is a long way from Santa Monica or Las Vegas, the previous headquarters for Dinar Trade. If this new location sounds familiar, it should. Stuart, Florida is the headquarters for Dinar Inc. You might also notice that the addresses for Dinar Inc. and Xchange of America match. What gives?





 

Robert Hoffman

You might recall that last year Dinar Inc. announced that they took over Tampa Dinar.  Apparently Tampa Dinar fell on hard times and Dinar Inc. was there to scoop them up.  What you might not be aware of however, is that two years ago Robert Hoffman of Dinar Inc. established Xchange of America.

 
What does this mean? Too soon to tell, really. Maybe Ali just got burned out. Maybe he had financial setbacks or legal issues. Or maybe he felt that the time was right to get out of the currency game. But this could also be some sort of merger rather than an acquisition, where Ali will now gain access to Xchange of America's locations. After all, the news came out the same day as the news about money transfer businesses being allowed to set up accounts with the CBI.  Who knows?  But this is news that the dinar world should be aware of. No cryptic messages or shell games here. Just the facts. Let the discussion begin.

 

 

 



Iraqi Election

Nouri al-Maliki

For the past four years we've been hearing from the gurus that Maliki is history.  He's going to be run out of office, arrested, assassinated, tortured, or run out of the country.  Supposedly the powers that be (PTB) were tired of him holding up the RV or the GCR or whatever.  In 2010 the election was essentially a tie and the stalemate lasted for eight months.  Almost all of the gurus said that Allawi would prevail.  They were wrong.  Time after time those same gurus told us that Maliki was a crook and wouldn't finish out the year.  They said that in 2011, 2012, and again in 2013.  Wrong, wrong, and wrong.  Now the gurus are telling us that Maliki is seeking a third term in violation of the Iraqi constitution.  I don't know about that since I'm no expert on their constitution or political process, but according to this article the Iraqi supreme court overturned a law limiting the prime minister to two terms.  Regardless, I don't think it really matters where the dinar is concerned.  Maliki or no Maliki this millionaire-creating RV isn't going to happen.

Anyway, we're hearing almost unanimous declarations that Maliki won't win another term in the upcoming election.  He's "in a world of hurt" or he's "toast" or he's "finished" or he's "fighting for his life".  All rubbish.  But the gurus have to have somebody to blame for the fact that this RV hasn't materialized, don't they?  I wrote about this nearly two years ago in "Maliki and the RV".  You see, these guys have made Maliki the scapegoat for years, saying that he is holding up the RV or the GCR or whatever.  So they have to tell their listeners that Maliki won't win another term because if he does we're looking at another four years of Maliki holding up the RV or the GCR or whatever, and who wants to hang around another four years waiting for this thing to pop? 

Let me go on record as being neither pro-Maliki or anti-Maliki.  My position is that the guy is probably no better or worse than any other leader would be, but he's obviously a better politician.  He knows how to work the system, and despite all of the problems in Iraq he has managed to keep the country from self-destructing.  So far, anyway.  While I won't make any predictions about the election I will say this .... based on Maliki's track record and the track record of the gurus I wouldn't be the least bit surprised to see Maliki win and serve a third term as prime minister of Iraq.

If that occurs be prepared to hear more cries of Maliki holding up the RV or the GCR or whatever.  If Maliki doesn't win then be prepared for new non-Maliki-based excuses as to what's holding everything up now.  It's how the gurus roll.

Deleting the Zeros II

June 24, 2011

BAGHDAD -- A senior Iraqi Central Bank adviser says the government has adopted a two-pronged plan to restructure the national currency in order to facilitate large transactions and make government accounts more efficient, RFE/RL's Radio Free Iraq reports. 

Mudhhir Muhammad Salih, a member of the bank's advisory panel, told RFE/RL on June 23 that in the short term, larger banknote denominations of the dinar would be issued to simplify major transactions.

He said that because so many Iraqis still dealt mainly in cash, it was cumbersome to carry bags full of money to pay for expensive items like cars. The inconvenience leads people making such purchases -- as well as many entrepreneurs -- to use dollars for those kinds of transactions instead of dinars, something the government wants to end.

He added that large denominations equivalent to around $100 would be issued to simplify major purchases, and new coins and lower denominations would be introduced for smaller transactions.

In the longer term, Saleh said a redenomination was needed wherein three zeros will be dropped so that the 25,000-dinar banknote -- currently the largest denomination -- becomes a 25-dinar note.

**********************************************************************

The other day I was watching a certain guru attempting to answer an email about deleting the zeros.  Essentially the question was "what is meant by deleting the zeros?"  The guru proceeded to babble on for more than ten minutes about economic growth, the wealth of the Iraqis being restored, the money supply figures aren't accurate ... etc.  As far as I could tell he never really answered the question but he clearly suggested that it means revaluation rather than a lop.  I felt that it was a good question and it deserved a good answer. 

I asked this question myself a few years ago.  It drove me to study the subjects of redenomination and revaluation.  In my studies I came across numerous news articles about other currencies that lost value after periods of hyperinflation, and were now being replaced with a new currency.  I noticed a pattern.  They all seemed to include references to removing zeros from the nation's currency.  Sometimes they used the word "cut".  Other times they said "chop".  Some of the articles used "lop", "slice", "lift", or "drop".  No matter what word was used, they were all clearly describing the same process.  I wrote about this a while back in "Deleting the Zeros".

When a country removes zeros from its currency it is a process that includes several components.  First they have to announce it.  A currency reform of this nature must be explained to people in order to proceed smoothly with no misunderstandings or complications, otherwise people might get the idea that the government is stealing from them.  That is especially true in a country like Iraq where they had a ruthless dictator for decades who did exactly that.  For the past few years the central bank of Iraq has been educating Iraqis about the coming monetary change.  They've been telling them that the dinar that they're using now will be replaced by a new currency at a ratio of 1000 old for 1 new dinar.  This will be accompanied by a new exchange rate where the decimal will move three spaces to the left (from 1166:1 to 1.16:1) and the new value will see the decimal move three spaces to the right (from $.00086 to $.86), thereby removing three zeros.  The new notes will have three less zeros.  The 25,000 dinar note worth about $21.50 will be replaced by a 25 dinar note worth about $21.50.  The 10,000 dinar note worth about $8.60 becomes a 10 dinar note worth about $8.60.  The 5,000 dinar note worth about $4.30 would become a 5 dinar note worth the same ...... etc. 

After the announcement is made and the education process has begun, the new currency is designed and printed.  There have been numerous articles about the designs being approved in Iraq but to my knowledge the printing process has never been approved because of the concerns among some in parliament that Iraq needs more stability before they can carry out this project.  There have also been articles such as the one I recently wrote about stating that the current denominations are being printed with new paper, designs, and sercurity features.  These would replace the worn out bills presently in use.  If they go to the trouble and expense of printing new notes in the current dinar series one would assume that printing up notes to replace the IQD would still be a ways off.

Once the new bills are approved and printed they would be introduced into circulation.  For a certain time frame (most articles about the dinar state two years) both currencies would be valid for in country purchases.  In Iraq's case an item that cost 86 cents could be purchased with either a 1,000 old dinar note or a new 1 dinar note.  When the time frame expires only the new currency would be considered legal tender.  Some articles have referred to a ten year period where the old currency will be redeemable at banks, but to my knowledge none have stated that it could be used for purchases beyond 2 years. 

When the process is complete the people have a new currency without the all the zeros that were added because of hyperinflation.  Transactions are simpler.  Accounting is simpler.  And the people feel better about using a currency that has greater value.  But there is no net change in the purchasing power.  If a person had 10 million of the old currency worth $10,000 they would now have 10 thousand of the new currency worth $10,000.  No increase or decrease. 

This process has been carried out dozens of times over the past 50 years in large countries like Russia and Brazil and small countries like Iceland and Turkmenistan.  It's been done in countries with great natural resources and countries without great natural resources.  It's occurred in countries with growing economies and countries where the economy wasn't growing so well.  The purpose is simplification of the monetary system, not to increase or decrease the wealth of the citizens.    

I've discussed this process with a friend of mine who lives in a country where a redenomination occurred.  I asked him if there was any change to his net worth when it happened and he said there wasn't.  "As long as you exchange for the new currency in time" he told me. 

Shabibi in Washington D. C. - April 2011

Now that we've discussed what "deleting the zeros" means, let's talk about what it doesn't mean.  It doesn't mean removing three zeros from the value so that they can revalue 100,000% from $.00086 to $.86 and turn a $1,000 investment into $1 million.  Revaluations don't work that way.  The largest revaluation in history was only 35% (China's renminbi) and it took over eight years to move that much.  It doesn't mean removing the three zero notes from circulation, either.  As I mentioned earlier they're apparently planning on printing more three zero notes which they wouldn't be doing if they were interested in removing them from circulation.  The gurus insist that in Arabic the CBI is saying that they will remove the 000 notes from circulation, but it loses that meaning when translated into English.  But the fact is Shabibi spoke about this in English when he visited Washington D.C. in 2011 and he clearly stated that deleting the zeros means redenomination.  He said nothing about removing the 000 notes.  I wrote about this in Shabibi Videos.

The "Delete the Zeros" project has been totally misrepresented by gurus.  They want to convince dinar speculators that they will somehow benefit from this process.  That's simply not true.  It's a neutral event, and in fact there's a better than even chance that holding IQD when they delete the zeros will end up costing you.  That's why this blog and others have been trying to warn people about the risk incurred in dinar speculation.  The potential for profit is minimal and the potential for loss is enormous. 

I will conclude with a quote from the September 2012 indictment of Brad Huebner and Rudolph Coenen for dinar fraud.

"A "redenomination" of the dinar refers to an actual proposal by the Central Bank of Iraq, announced as recently as June 21, 2011, to re-print the currency to remove three zeroes from the physical dinar banknotes as a matter of convenience.  A redenomination of the Iraqi currency would not lead to a revaluation by the same amount, and may have no effect on the currency's value.  Under a redenomination, a new currency replaces an old currency, but the value remains the same."

http://www.realscam.com/attachments/f12/1576d1348185792-bayshore-capital-investments-bh-group-bhgroup_indictment.pdf (article 8 page 3)

The New Dinar Notes

Well I just got a glimpse of the new dinar notes.  They should be in circulation any day now, and I must say they turned out rather well.

All kidding aside, a recent article from Iraq reports that they're printing new banknotes in Iraq, only they're not the new "lower denoms" that the gurus have been telling us about for years now .... you know, the ones that would reflect a 100,000% increase in the IQD's value.  No, these are new 250, 500,  1,000,  5,000,  10,000, and 25,000 dinar notes which are already in circulation.  They're being given a facelift with new designs and security measures as well as features for the blind. 

Okay, the gurus have been telling us for years that Iraq is pulling the three zero notes out of circulation.  They claim that this is what the CBI means by "deleting three zeros".  Now correct me if I'm wrong, but don't the 1,000,  5,000,  10,000, and 25,000 notes all have three zeros?  And they're printing more?  Supposedly they're reducing the money supply in preparation for an RV, but they're printing more??  All of the three zero notes have been sucked in, but they're printing more???  Does any of this make sense?  Or could this just be further evidence that increasing the value of the dinar is the last thing on their minds, and that these gurus are just as clueless as I've been saying they are for 2.5 years now?

A week ago they were talking about the articles that told the Iraqis to take care of those dinar notes. 

4-6-2014 BGG …if the CBI truly intended to keep the value at 1166 – would it not be a reasonable conclusion they would regularly replace the worn and damaged currency? This has been a source of major complaint for some time now…any normal economy has a plan in place for removal and replacement of worn and damaged currency. The US replaces significant amounts of our currency on a regular basis. This is a common practice. Not in Iraq (currently) – Why?

Obviously BGG was suggesting that the RV is imminent.  So a few days later we read that they are going to replace those worn and damaged notes and BGG's sidekick Poppy says:

4-11-04 DON’T WORRY ABOUT THE REPRINTING OF MORE CURRENCY, THAT IS A GOOD THING…SINCE THE SMALLER DENOMS WERE PRINTED IN 2011 THEY HAVE RELEASED BILLION MORE DINAR SO IT IS OBVIOUS THEY WILL NEED MORE LD’S THAN THEY FIRST PRINTED AND THEY ARE ADDING A LITTLE MORE SECURITY. ALL THIS IS GOOD NOT BAD.

So you see, whether their worn out currency is or isn't being replaced ... IT'S ALL GOOD NEWS!  Amazing, huh?  It was amusing to hear these nimrods stumble around as they tried to explain how "this is good for our investment".  Most suggested that the larger three zero notes would be used for bank to bank transfers, even though those transfers are done electronically in the 21st century.  And even if they did need three zero notes for those transactions, why do they need to add features for the blind?  Is blindness rampant with Iraqi bankers?  Do bankers really need more vibrant colors and a picture of a tractor "plowing a new earth"?  Unfortunately most of the sheeple seemed to accept this as good news and fell in line with the mantra "GO RV!". 

I think it's safe to say that if this article is accurate, the currency reform is still a long ways off, and the CBI plans on keeping the value about where it is for quite some time.  Good news for the scammers, but bad news for everybody else concerned as this charade continues into what seems like perpetuity.

http://www.newsabah.com/content/البنك-المركزي-يعيد-طباعة-العملة

           

Cashing In the Chips

Being the curious bugger that I am, from time to time I browse through the dinar related videos in YouTube to get a sense of what's new in Dinarland.  Here's one I came across the other day.  A guy called RJ from Morning Liberty Radio was talking about the Global Currency Reset, claiming that thousands of elites and politicians have been cashing in their dinar at special contract rates and other such nonsense when he decided to do an illustration with his favorite potato chip which turned out to be Doritos which are actually corn chips in case any of you are wondering.  I thought he was going to eat the whole bag, and I was left pondering what eating chips has to do with anything?  I finally concluded that he just wanted a snack.

In his YouTube video description he says "Okie Oil Man claims that many foreign countries are pushing the IMF for GCR activation. Eagle1 says, every night the IMF will continue to make our RV come out. China has been pushing for our RV by Feb 8th. Many people have bashed the Iraqi Dinar, but the only ones who are RV scamming are those Elite People who are lying to get gain while other people are waiting for their RV dreams. TNT Tony declares that the RV call centers are staffed and Dinar Cash-Out Centers are on high alert across America."  

https://www.youtube.com/watch?v=-SJWnuBXdi4

Major facepalm time here.  Just when you have a glimmer of hope that people are coming to their senses and seeing the RV scam for what it is, somebody like this comes along and reminds you of just what a massive global currency brain fart this has become.  

The Latest from Eagle1

A few months ago I did a post on Frank26's GCR (Global Currency Reset) intel guy, Eagle1.  In that post I not only rebutted his rubbish but I also provided links to establish who this poser is.  Since then he's been pretty quiet, but he popped up last Saturday night to update Frank's "family" on the mythical RV and GCR.  Below you will find his post along with a few comments from Yours Truly in bold black.

***********************************************

Good Afternoon, Family:

Frank is right! How's that for an introduction to this opinion piece?

Now, let me really mess with you! I'm also right! So how can that be? How can Frank be right that there is only an RV and not a GCR, while I'm right in saying that there IS and MUST BE a GCR?

Now that I have you thoroughly confused, let me take you into a little history of events and explain the why's and wherefore's of our diverging intel.

Everyone knows that George W. Bush signed Executive Order #13303 in 2003 making it lawful for Americans to purchase and hold the Iraqi Dinar, which would otherwise have been a sanctioned currency and unlawful to buy or sell.  Uh ..... no, we don't know this.  In fact the DOJ specifically addressed this lie (page 5).
....

Eagle1

We all know that the objective from Day One in the Bush Administration was for the Dinar to be restored to its original value, and with that restored value, create a flow of cash within our nation to not only pay for the Iraq War, but to at least pay off the Treasury's acknowledged public debt.  At the same time, it would bring to the American people a flow of finances and (for some) much wealth, resulting in a very big turnaround in our economy.  And how do we know this?  From dinar gurus like Frank?  There's certainly no documentation of anything like what you're saying.  Actually the Future of Iraq Project (page 14 of the pdf) says nothing about flow of cash or paying for the war. It just talks about the psychological impact of replacing the currency. HINT!!! "Psychologically significant" is another way of saying people will feel better about using a new currency with a higher value even though the net purchasing power hasn't changed. In other words, a lop. 

With all of the gold Iraq already had in its reserves -- never mind all the un-mined gold that the soldiers found under the streets and in otherwise unusual places -- by virtue of the fact that the US Treasury was holding trillions of Dinar in its reserves toward the expected date of the RV, the US Dollar would actually have some gold backing for the first time in decades.  This lie about the US Treasury holding trillions of dinar was also addressed by the DOJ.

No one is arguing with those facts. Of course they are, because they're not facts at all and you haven't provided any evidence to that effect. 

All of us have seen the events unfolding in Iraq bringing us step-by-step and closer to the day of the revalue of the IQD. So far so good?  Not really , but please continue.

What seems to have been lesser known is that members of the Bush Administration (whose names shall go unmentioned in this post) began to see the value of a global economic reset.  Again, no names ... no documentation ... no evidence to support what he says ... we're jut supposed to believe Eagle1 because he's such an honest guy.  After all, he's a minister.
There were other currencies whose values were operating under artificially low (and previously sanctioned) rates. Vietnam and Indonesia are two classic examples. Were there to be a revalue of those currencies and/or a restructuring of currency values based on actual fixed assets, this could fundamentally alter the global economies and restore some sanity to the way currencies were exchanged and commodities traded between countries.  There's nothing artificially low about the dong when you consider that their money supply is in the quadrillions.

Working with German economist and then-Managing Director of the IMF, Horst Köhler, at a meeting in Basel, Switzerland, a set of protocols began to be developed by which the member nations of the IMF would determine their respective asset bases against the amount of currency in use.  Not true.

By the time the Basel III Protocols were finally published in 2010 with then-Managing Director of the IMF, Dominique Strauss-Kahn, those protocols had undergone many iterations resulting in what was going to be a fundamental restructuring of the way banks managed their assets, along with new rules for measuring the stability of banks globally.  None of which has anything to do with this GCR flapdoodle.

Before any global reset could be implemented, however, there needed to be banking software and international exchange software developed which would accommodate all of the changes that were about to be implemented.

Babylon II was the outgrowth of this process, gaining its name from Babylon, LTD, an Israeli software company based in Or Yehuda, Israel. Wikipedia says of this software, " Babylon is a tool used for translation and conversion of currencies, measurements and time, and for obtaining other contextual information."

Anyone who has spent any time at all in the computer industry working with translator programs will be acquainted with the Babylon Translator which, for a period of time, was bundled with Google as a language translator program. This is the same company that developed the new banking software.  I looked up the currency page on the Babylon translation website and here's what they say.  "Currency Dictionaries - Get instant translations and term definitions at a click customized to your field of interest- Free"  So you can clearly see that when Wikipedia refers to the translation and conversion of currencies, they're talking about the currency codes, terminology, and definitions.  It has nothing to do with converting exchange rates!

In February of 2012, this software began its installation process and testing throughout banks globally. Many of you will remember the glitches that took place with NASDAQ and the NYSE when they began to roll out the version of the software designed for trading in 2013, and we saw the exchanges go down for several hours because of problems in the software.  Okay, they went down for a few hours.  So how do you explain the 14 month downtime for this Babylon II implementation?

OK, that's some of the nuts and bolts behind both the RV and the GCR. Let's get to what appears to be a discrepancy between Frank's focus on the IQD RV and my emphasis on a Global Currency Reset, and why both of us are correct.

By the time we reached the maturity of the two processes for the revalue of the Dinar, and the implementation of the currency reset, none of the original players were involved.  I thought the global elites were pulling all the strings?  You know ..... the "Powers That Be"?

The Bush Administration was no longer in power, and while members of that administration were certainly invested in the respective outcomes, the Obama Administration had taken over.

Much of Frank's intel comes from folks who are connected to the current administration in one way or another, as well as his very dominant sources of intel from within Iraq.

Much, if not most, of my intel comes from people who either were in the Bush Administration, or are connected currently to the IMF and the World Trade Organization, with only a couple of sources within the current administration. I actually think most of your intel comes out of your large intestine.  Ditto for Frankie. 

Here's where what appears to be a strong (albeit friendly) disagreement stems from.  The current administration is very pro-Iraqi RV. They want the U.S. to gain AND KEEP the upper hand globally where finances, and particularly the USD, are concerned. On the other hand, the current administration is very anti-GCR. Why, you ask?

We've seen a lot of talk and hullabaloo over the 2010 Code of Economic and Governance Reforms in the past two weeks. This past week, the Senate overwhelmingly passed a bill providing Ukraine financial aid in the face of its virtual cutoff from Russia. Included as a rider to that bill was this 2010 Code of Reforms being actively pushed by Treasury Secretary Jack Lew.  Pumpers like to throw out references to current events and people involved in those events.  It makes them sound like they know what they're talking about.  When Jack Lew became the head of the US Treasury they were all quick to point out that he worked in the Clinton administration when the budget was supposedly balanced  as a result of the windfall from the Kuwaiti RV (another pumper lie), and was surely put in place to oversee the revaluation of the Iraqi dinar.  What they didn't point out is that Lew joined the Clinton administration in 1993 and the Kuwaiti RV supposedly took place in 1991.  They also failed to mention that he left in 1994 and the budget wasn't balanced until 1998, nor did they mention that Lew's job was focused on AmeriCorps and health care reform.  Apparently most guru followers don't bother to fact check these things, but never fear ... Sammy's here!

 
That sounds like I just contradicted myself, doesn't it? I just said that the current administration is very anti-GCR, and yet Jack Lew, our gifted Treasury Secretary is pushing these IMF reforms. How can that be?

The 2010 Reforms were stripped from the bill before it went to the House of Representatives as already noted in a previous post, and the aid to Ukraine passed overwhelmingly, minus the IMF bill. Even yesterday, the 28th, Christine Lagarde was expressing her dismay and aggravation with Congress over its failure to pass these reforms.  More name dropping.  "Wow, this Eagle1 guy knows all about what's going on with the head of the UST and the IMF!!!  He's really got the scoop on the GCR!"  Anybody who knows how to read and knows how to use Google can look these names up.  However only pumpers can come up with such inane storylines.

So, to borrow a catch phrase from an old TV commercial, "Where's the Beef?"  Where indeed!!??

One of the principal provisions of the IMF Code of Economic and Governance Reforms keys in on the word, "Governance." These reforms include creating a 10-member governing board which includes Russia, China, Brazil and India -- among others. This governing board would, if agreed to by the U.S., put Russia on an even playing field with the United States as far as having a say in global economic issues.

With Russia having taken such an aggressive and adversarial stance with regard to Ukraine, its annexation of Crimea, its huge military buildup on the Ukrainian border, and what appears to be further adventurism towards Estonia and other neighbors, the last thing our Representatives in the House want to see is for Russia to have equal footing in the IMF on a governing board.  A common tactic of these intel gurus is to take current events and weave them together with a storyline about the RV/GCR.  If they really had the connections that they claim wouldn't they be able to tell us about events like Crimea ahead of time?  Remember, prior to the dinar revaluing from 1170:1 to 1166:1 in January of 2012 not one single stinking guru said anything about that small increase, but after it happened they all had their explanations of what it meant.  These guys have NO contacts, NO intel, and NO clue whatsoever what is going on with international negotiations and maneuverings.  They take everything from the same headlines that you and I have access to and then they fabricate.

Consider, also, the fact that Obama has placed sanctions on Russia, along with our European allies, because of Russia's adventurism.  More current events references, designed to build confidence in his expert analysis.
 
Obviously, the Obama administration has no particular love for China because of China's participation in the BRICS group, and its currency trading between these countries without the use of the USD. China could be tolerated on this governing board with some economic agreements between us, but under the present circumstances and the present regime in Russia, that will never happen!  The BRICS nations include Brazil and South Africa.  Obama has been to both countries since taking office and has expressed no hostility toward either because of their involvement in the BRICS alliance, so why would such an association be a problem with China?
 
Thus, as you see, the signing off on these reforms (which include this new governing board) is not something that is widely accepted within the current administration.

They are more than happy to see an RV because it does not require any acceptance of the IMF Reforms, and it solves our economic woes -- at least for the time being.

Christine Lagarde, on the other hand, is not about to stand by and allow the US to run away with this boon economically while the remaining 187 member nations gain little benefit. Some folks have suggested that because Christine is basically a socialist at heart, she and Obama are joined at the hip.  Oh Dear God!!!

The problem with that analysis is that Christine and Obama are galaxies apart when it comes to implementing their respective socialist policies. Oh for the love of ........  For Christine, her brand of socialism is to provide a more level playing field when it comes to making decisions that aid the developing and emerging economies of other nations. Hence, the 2010 Reforms.  Somebody shut him up!!!

Hopefully I'm drawing a picture that helps you understand the divergent views between the intel I receive and share, and that which Frank receives and shares with the family. If your sources are strongly pro-RV and strongly anti-GCR, then your view will be that if there ever is any such thing as a GCR, it's going to be way down the road.  And if neither one of you has any real sources, you're both just making everything up.

Under the present circumstances and view of this administration, were their agenda to succeed, Frank would be 100% correct. And -- based on the intel he has been given -- he IS correct!  Frank has never been right about anything.  I've done three posts on just how clueless the guy is.

http://dinardouchebags.blogspot.com/2011/12/frankly-reeking.html
http://dinardouchebags.blogspot.com/2012/07/frankly-reeking-ii.html
http://dinardouchebags.blogspot.com/2012/08/frankly-reeking-iii.html

On the other hand, knowing what I know from behind the scenes at the IMF, Christine isn't about to stand by and allow an RV of the IQD without other nations getting to join in this restructuring.

Could we see an RV of the IQD and a later GCR?

Sure! The kicker here is that "later" is going to be measured in microseconds, minutes or hours at worst -- not weeks or months. Everything is in play, and everything is in a state of readiness for both possibilities.

With the House and Senate at an apparent impasse over the "Governance Reforms" one wonders if there is any real solution, and the answer is, YES! I'm going to make what I believe is a simple proposal that I hope my friends on both sides of the aisles in the Senate and House of Representatives will take to heart.  I'm sure they're waiting with bated breath for your priceless advice.

As Senator Ted Cruz pointed out last week (and several members of the House concurred), with Putin and Russia so h*ll-bent on rebuilding the old Soviet Empire and reclaiming territories and nations they considered as "Soviet," the simple solution is to amend the Governance portion of the 2010 Reforms by removing Russia from the governing board of ten members, either substituting another acceptable nation in its place, or simply leaving Position 10 empty until such time as Russia complies with the demands to withdraw from the Ukraine, surrender the Crimea back to Ukraine and withdraw its forces from its western borders on Ukraine and Estonia.

The alternative would be to simply hold the position open until such time as Russia has a more flexible leader, or one who is willing to partner with the rest of the nations in a peaceful way.  Okay, thanks Mr. Kissinger.  We'll get right on it.

The above solution, of course, would require the amended Reforms to go back to the other signing nations in order to get their agreement with the change. It is a relatively simple change that I believe most of the House and Senate would agree to, in fact with a "super veto-proof majority" that Obama could either sign or simply allow to become law without his signature.

In view of Russia's belligerence and the already imposed sanctions by many of the signatory nations to the IMF, I believe this amendment could pass quickly and smooth the way for a Global Currency Reset.

Without this amendment, what we have is a stalemate between the U.S. and the IMF with the U.S. currently holding a complete veto capability to any change in the Reforms.

Christine has made it clear to many that she is willing to bypass the U.S. and move ahead with the Global Currency Reset.  Christine Lagarde has never talked about a global currency reset where all currencies will be backed by precious metals.  When she talks about resets she's talking about economic reforms, banking reforms, and tax reforms.  A meeting is planned with the IMF and the World Bank on April 10 and 11.

It is conceivable that if we don't get an RV/GCR by that date that a decision could be made to move ahead unilaterally with the other nations. Am I predicting that? No. I'm expecting things to move without us having to reach such a confrontational stage.  I will predict that no GCR or substantial RV of the dinar will occur by April 10 of this or any other year. 

Keep your eyes peeled, folks! We're in the midst of something exciting, and whether we see it this weekend, next week, or the week after is less important than the fact that we are coming to the finish line! God is on the move!  The obligatory bone throw to the religious devotees.

Blessings on you.

Eagle1

***********************************************

It's unfortunate that so many people listen to the likes of these bozos.  Eagle1 has never produced a shred of evidence to support anything that he's saying about this reset, and there's a reason for that.  It's simply not true.  I understand that most people don't have the time to follow current geopolitical events and study the intricacies of economics.  They're too busy working, raising their families, and trying to get by.  That's why I'm here.  That's why Bagdad Invest is talking about this.  That's why Marcus Curtis is debunking this hokum.  And that's why John Jagerson has been telling people since 2009 that this is all a scam.  Fortunately many are catching on, because there are enough of us out here now sounding the alarm about these scammers to put the skids on their little dog and pony shows like this one. 



March 25 IMF Statement

A few days ago representatives from the International Monetary Fund visited with CBI officials in Amman, Jordan to discuss developments in Iraq's economy and banking sector.  At the conclusion they released the following statement:


“Iraq maintained macroeconomic stability in 2013, despite lower than projected oil production and exports. Growth remained solid at 4.2 percent, thanks to non-oil activity of about 7 percent, driven by construction and retail trade. Inflation declined slightly to 3.1 percent from 3.6 percent in 2012, reflecting stable world food and fuel prices. The exchange rate remained stable, and international reserves grew by $7 billion to $78 billion at end-2013 (about 10 months of imports of goods and services).
“Economic activity is projected to strengthen in 2014, with GDP growth rising to over 6 percent thanks to oil production of 3.2 million barrels per day (mbpd) and oil exports of 2.6 mbpd, even though non-oil activity is affected by the security situation.
“However, in 2013, lower than expected oil revenues and increased spending pressures—largely arising from the difficult security situation—weighed on the overall fiscal performance. As a result, the budget deficit rose to 6 percent of GDP for 2013, financed though the Development Fund for Iraq, which declined from over $18 billion to $6.5 in the course of the year.
“The draft 2014 budget envisages large spending outlays reflecting new commitments for security, social assistance and pensions, and transfers to the provinces. To preserve macroeconomic stability, planned expenditure commitments should be scaled down, while preserving key social spending. In the longer run, Iraq should strive to manage well its large, and rising, oil revenues by containing current spending and building up fiscal and external buffers.
“In this connection, we also underlined the importance of strengthening public financial management, including budgetary processes, classification, and reporting, and introducing an integrated information system, to help prepare and execute sustainable fiscal policies.
“We also discussed progress in the financial sector reform agenda. The Central Bank of Iraq is pressing ahead with the improvement of its operations and the reform of the financial sector by preparing new central bank, commercial bank, and anti-money laundering/combating the financing of terrorism legislation, and introducing a new payment system. However, more needs to be done by the government and the central bank to restructure the large state-owned banks, and leveling the playing field for private banking sector, gradually increasing their access to government business.
“The exchange rate—supported by ample international reserves of the central bank—provides a key nominal anchor to the economy and has served Iraq well. We encouraged the Central Bank of Iraq to renew its efforts to liberalize gradually the foreign exchange market, further reducing the spread between the auction and parallel market rates.
“We would like to thank the acting minister of finance, the acting governor of the Central Bank of Iraq, and their staff for the productive and candid discussions we had during the mission.”

http://www.imf.org/external/np/sec/pr/2014/pr14124.htm



The gurus seemed to be all jazzed about this meeting, concluding that it signals a huge increase in the dinar's value.  But seeing as how the recommendation was to bring the auction price closer to the market price, I would have to say that this would mean a devaluation if anything since the market price is lower than the auction price at this time. 

http://www.cbi.iq/documents/CBI_FOREIGN_EXCHANGE_AUCTIONS.pdf (figures encircled are at the bottom of the page)


Reading comprehension skills are obviously no prerequisite for guru status.