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| Dave Schmidt |
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.
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/
If anyone is in any doubts about this guy's past:-
ReplyDelete"In the largest questionable expenditure by Schmidt, PDC investigators, in a report issued last week, allege he improperly reimbursed himself $32,260 in unspent donations for wages he claims to have lost serving in the Senate from 2003-06."
http://heraldnet.com/article/20111207/NEWS01/712079892
"In Sep 2011 this douchebag this guy got together with Steve Beckow of Golden Age Of Gaia (GAOG) to start Hope Chest Fund with people donating money and Dave supposedly gave it to needy people. This is the same site that in 2012 booked a lightworker conference in Sedona at $180 to listen to 12 channelers and had 600 fools go there. The same site that was booking a flying saucer trip to Neptune from the idiots that inhabit that site. [Hey I want to go to Neptune also.... I'm sure Okie and Tony would love that if I really did!!! LOL!!! ~Mr. IQD] Well the aliens never showed up they had to cancel the trip. I can’t make this stuff up.
'Archangel Michael' has said for the idiots at GAOG to buy dinar and dong and when Steve fired Dave Schmidt when the accusations came out he stole over $41,000 Dave figured their was another gold mine waiting around the corner so he figured he would start pumping dinar and dong."
http://mriqd.com/2014/03/28/rant-respected-state-senator-has-fallen-to-hack-guru/
here is more babble from god himself!>>>and in his posts he pokes fun at other liars. well who the hell is he to call someone else out when all he has done is call rv's of dong or dinar for years with no factual basis for such and then makes up some bull after it doesn't happen. the typical religious fraud!
ReplyDelete[poppy3] RICH FRIENDS . AT NEARLY MIDNIGHT LAST NIGHT DURING A BAD STORM HERE IN TENNESSEE I GOT A CALL AND THEY INFORMED ME THAT MANY OF THE CONTRACTORS WHERE PAID SATURDAY AGAIN IN USD SO I DOUBT WE ARE GOING TO SEE THE RV UNTIL AFTER THE ELECTIONS ARE COMPLETED AND THE NEW P M IS NAMED AND IN PLACE. IT WILL ALSO BE VERY INTERESTING TO SEE IF HE WILL LEAVE TURKI AS THE GOVENOR OF THE CBI. HE WAS STILL TALKING WHEN THE PHONE WENT DEAD SO I HAVE NO IDEA WHAT HE SAID FURTHER. MYSELF, I AM TRYING TO BE AT PEACE AND QUIET AND JUST PASS ALONG THINGS THAT DIRECTLY EFFECT THE TIMING OF THE RV BUT TO STAY IN A QUIET PLACE AT THIS TIME AND MEDITATE ON THE POSSIBILITIES OF THE BLESSING. NOT TO GET CAUGHT UP IN ALL DAY DEWELLING ON ALL THE POLITICAL NEWS AND MADE UP BULL THAT MANY ARE PUTTING OUT TO MUDDY THE WATERS JUST TO PUSH SELLING MORE DINAR AND MAKING PROFITS FOR THEMSELVES. BE AWARE AND CONSIDER THE POSTERS AND THEIR PASSED RECORDS AND MODE OF ACTIONS OVER THE YEARS . FOR ME I HAVE A NEW COUNTDOWN BEGINNING TODAY AND I AM NOT GOING TO TRY ANTICIPATE THE RV DATE BUT AM GOING TO ALLOW IT TO COME TO ME. I DESERVE IT AND KNOW BEYOND A SHADDOW OF DOUBT IT IS MINE SO DAY BY DAY I WILL PRAY FOR FAVOR IN THE TIMING OF THE BLESSING FOR MY FAMILY AND YOURS.NO HYPE JUST PLAIN FACTS . POPPY3
Id love to see what you all have to say tomorrow after Tony's conference call. it DID revalue. Actually it was Reinstated to the old Saddam rate, all we have to do is let it go live. Just a matter of time.
ReplyDeleteOK Lennox. We'll be here. Come on back and gloat when it happens. LOL!
DeleteI'd love to hear what you have to say when tomorrow comes and goes and the RV doesn't happen. Or the next day. Or the next day. Do you promise to come back and give us the lame-brain excuse? We'll be here.
This is a very common expression in Dinarland. i.e. it was RV'ed or RI'ed and now just has to "go live". What does that mean Lennox? An exchange rate only has meaning to the extent that it is actually offered. A rate that is not offered doesn't exist other than in someone's imagination, which fits Tony pretty well.
DeleteOnly a complete idiot would say and/or believe that crap.
DeleteLennox Adanosi - "Id love to see what you all have to say tomorrow after Tony's conference call. it DID revalue. Actually it was Reinstated to the old Saddam rate, all we have to do is let it go live. Just a matter of time."
DeleteAre you for real? It's "tomorrow" already and guess what?... I guess you need more "time", eh? Just like last year:-
Tony - "Got a call, said it might be tonight, things are hapening tonight. Look for The RV between 7:00 a.m. and 12 noon tomorrow, Iraqi time. There’s additional info, but I can’t tell you.
And the year before that...
Tony - "5-5-2011 everyone should expect to see this at Midnight (last night). Iraqi’s were promised to be paid today."
And the year before that, etc, etc...
Somehow, I think we won't be hearing from Lennox again. LOL!
DeletePretty typical of a dinar pumping guru to talk trash about this site yet be too much of a coward to join the conversation here and back up (with all of his "hard work") the "RV" that he pumps daily. Just another gutless scam artist.
ReplyDeleteit hasn't been announced in the us yet because the fed doesn't want to let go of their hold on the public, but the USTreasury is holding control of the gold now, so it going to happen. If you're so certain, then why dont you listen in to the call this afternoon? Better yet, call in and ask questions.
ReplyDeleteLove conspiracy theories LoL! When was hillbillies overseas? Now just traditional banking story and sermon :)!
DeleteLennox I know this may be hard to accept, but everything you're hearing along these lines is made up by con artists. The dinar's not going to make you rich. It's probably not even going to make you a profit. You're probably going to lose money on it, and you could lose it all. This scam has been going on for years. These guys just change their names and change their stories but they keep stringing people along so that they can line their pockets. Check back with us in a month or two and let us know if you still believe in the RV/RI/GCR.
DeleteI strongly suggest you read some previous topics here Lennox. This isn't a guru-run scam site. LOL.
DeleteCuse me, but asking questions isn't allowed. People may actually wake up if real questions were allowed. Like, Geez, Tony, you have been saying this would happen virtually every single day since a year ago last month. Do you ever get tired of your "sources" being wrong? And why should we believe you this time for the 400th time? You mean a question like that Lennox? Is that why dinar recraps won't allow those comments, LOL?
Delete... My mind gets blown on a daily basis thanks to this site and commenters such as Lennox!
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteI am actually really curious to know what the removed comment by Lennox said... Any way you could elaborate Sam?
ReplyDeleteIt was just a duplicate post, same as the previous one.
DeleteLooks as insanity taking dinar enthusiast wholesale, is it due Arkansas hurricane season?
ReplyDeleteROFL..........Says who Lennox? Okie? Tony? Frank? We can show you those lies being spouted by these criminals going back weekly for years. Its unreal that people like yourself still believe them.
ReplyDeleteRe-instating to 3.25? I guess the 90 trillion dinar in existence is irrelevant to your fantasy overnight 300,000% "re-instatement". It always is with brainwashed clueless "investors" of foreign currency.
Something tells me we have another troll. Unless there are still a few who are delusioned beyond belief then I think someone maybe messing with us.
Lennox, you heard this from a guru or you read this in the news? Please post link to article...
ReplyDeleteNo trolling here, just a believer. I think theres lots going on beyond what we are told.
ReplyDeleteThere is! What's going on is THERE IS NO RV! I know you're told constantly that the RV is coming but those clowns are scam artists. They're pathological liars! It is mathematically impossible for the dinar to massively RV. It will never happen. That is not an opinion! That is a mathematical certainty. It's a preposterous and absurd notion. It has never happened in history. It can't happen. Stop believing everything you're told and start using some common sense.
DeleteI've been trying for 5 months to get on the Blast. I guess Tony Turd knows my number by heart LMAO. Have't you noticed idiot that the callers are the same 5 or 6 callers with maybe an extra paid one every call mental giant. Nobody gets on that call without Pam making sure they're not going to ask any pertinent questions just the same old garbage about after the Rv which will never happen so the calls are just about nothing to fill the 2 hours so Turd can get paid. I see Schmidt has cut his prices for his next gig ''Who Wants To Be A Millionaire'' even though he told me he had 120 people in Dallas at his last one. I thought Turd looked like a conman but just looking at his face makes me want to throw up'' The car salesman, evangelical preacher, and goatee looking conman. You couldn't have a more perfect face for stealing other peoples money scumbag. I've seen you on car lots and Church Cabal networks to many times punk and you will be taken down scumbag.
DeleteA lot going on? Sure there is. Nothing that has to do with a fantasy,made up impossible, economic event. It literally does not exist in economics. It literally cannot exist in economics due to the fact that it defies the very principles of economics starting with the most basic principle which is the more there is of something the less it is worth. You have been duped Lennox. The RV is nothing more than a fabricated myth to sucker people like yourself into buying inflated currency. Sorry but mathematics will not change to suit your overnight get rich quick scheme.
ReplyDeleteI have a funny suspicion this is Andrew Reed toying around like he did @ Baghdad Invest until he was recently banned much like when Sam banned him here. Just saying.
ReplyDeleteI thought the same at first. However, if you take a more careful look at Lennox's sentence structure, punctuation, and general syntax, it is pretty unlikely.
Delete@Sam: Is Lennox using a proxy? If so, where is it?
They don't include anything in the way of analytics with this version of Blogspot. My opinion is that it's not Andrew Reed because Lennox sounds like a Tony follower and Andy never showed any such leanings.
DeleteAll Guru's = An Antisocial personality disorder. This is a mental health condition in which a person has a long-term pattern of manipulating, exploiting, or violating the rights of others. This behavior is often criminal. When you believe a lie it isn't a lie. They just can't help themselves. Therefore we should pity them.
ReplyDeleteThe mere fact this guy tried to have Okie on tells me everything I need to know about how brain dead this Dave really is. A nut job who has called this 200+ times? Suuuuurrreeeeee Dave.
ReplyDeleteI promise Im not anyone who has ever posted here as someone else. Dont look too deep into it, Im just someone who believes things are going to happen.
ReplyDeleteSince you continue to frequent here, perhaps it's a sign that there is creeping doubt in your mind. If so, there is reason to believe you can understand logic and common sense.
DeleteIt is really not hard to understand. Iraq has produced 88 trillion dinar. It has foreign currency reserves of just $80 billion. It has a GDP of just $210 billion. If each dinar, somehow, was declared to be worth even 1 cent each, the money supply of Iraq would be worth $880 billion. That's more than 4 times their entire annual economic output and more than 10 times their foreign currency reserves! Think about that. How could Iraq possibly support a money supply valued at more than 4 times their entire economic output? For some contrast, the US GDP is approximately $17 trillion and the US money supply is approximately $11 trillion. In addition, the US is the world's reserve currency so the US dollar is provided "exorbitant privilege" (widely accepted) around the world. Yet, even with the status of world's reserve currency, the entire money supply of the US is only 64% of its GDP.
There is nothing to believe in this scam. It isn't about "belief". You can't believe it into existence. The notion of a massive RV is an absolute, undeniable scam. It is a mathematical impossibility. There's nothing to "wait and see". You were scammed because you were talked into paying 20-30% more for dinar than they are worth. At a minimum, that will be your loss in this scam. The only question now is whether you accept the loss or stubbornly refuse to sell and risk losing 100% (if there is a redenomination) because you think there is something magical or mysterious about the dinar that people are just too stupid to see.
You now have the information, it's up to you to decide if greed prevails or if logic prevails.
They only printed 30 trillion and ive seen articles from cbi stating they have reduced that. They may have gold and other assets thats worth 88 trillion.
DeleteONLY thirty trillion??? LOL, Do you have any idea how much 30 trillion is? Even if that were true, and it's not if you are talking about amount in circulation and not physical notes, do you not realize that "RVing" even 30 trillion is just as absurd as the actual 80+trillion? They have around 90 BILLION dollars worth of reserves (including that gold) to back their currency so do the math, thirty TRILLION backed by 90 BILLION.
DeleteBTW the official CBI documentation shows positively that the amount of Dinar in existence is INCREASING not decreasing and I challenge you to show otherwise!
David, you've seen NOTHING from the CBI that has said they've reduced the amount of dinar. If I asked you to produce the articles, you couldn't do it. You likely heard a bunch of clown gibberish that told you that and you want to believe it so, to you, it's true. It's just the opposite. The official CBI website tells you EXACTLY what the money supply is. The information is audited and verifiable. It's incredibly easy to confirm. Why do people refuse to accept it yet they will, without question, believe anything an unknown, anonymous user on an obscure website tells them? It's mind boggling! A massive dinar RV is so easily debunked yet people still refuse to believe it.
DeleteAnd $88 trillion dollars worth of gold? You have got to be kidding me? Do you have any idea how ridiculous that is? Do you have any idea how much gold that is? That is over 70,000,000,000 ounces. That is 175 times more gold than exists in the entire world! The level of absurdity involved in this scam is almost unimaginable. If I didn't read the assertions myself, I wouldn't believe that they were actually made.
Simple math skills would reveal the dinar RV as a scam in 30 seconds. Yet so many people that claim to have so much information and so many contacts and so many secret sources apparently refuse to believe the laws of mathematics apply to the dinar. Somehow, they believe, there's a magic spell cast over the dinar that suspends the laws of the universe and all logic so they don't have to do the math. It is scary to think that many people can be that stupid.
david phillips - "They only printed 30 trillion and ive seen articles from cbi stating they have reduced that. They may have gold and other assets thats worth 88 trillion."
DeleteNo you haven't. What you mean is, you've seen guru's twisting words around of deliberately badly mis-translated articles to "suggest" that to suit their sales agenda. In reality, Iraq's M0 (banknotes alone) are over 68tn Dinar. Iraq's total money supply hasn't been under 30tn since 2007:-
Iraq's Annual M2 Money Supply since the war:-
2004 = 12.25tn Dinars
2005 = 14.68tn Dinars
2006 = 21.08tn Dinars
2007 = 26.95tn Dinars
2008 = 34.92tn Dinars
2009 = 45.44tn Dinars
2010 = 60.26tn Dinars
2011 = 65.11tn Dinars
2012 = 72.02tn Dinars
2013 = 87.77tn Dinars
And they have assets worth 88 billion Dollars, which will back 88 trillion Dinar at a rate under 1000:1, but wouldn't even back 0.1% of 88 trillion Dinar at 1:1 vs the USD. Not to mention the obvious common sense facts such as $88tn (in dollars) dwarfs USA + Europe + China + Russia + India, etc, all combined (all for a country smaller than Canada with an economy smaller than Finland), but it is in fact larger than the entire global economy. Or that $88tn works out to having an "RV'd" money supply supposedly 419x times larger than the Iraqi economy. Or how can Iraq have between 1-40x planet Earth's worth of non-inflated money? They can't. It's a scam whose sole purpose is to sell you Dinar for 20-30% more than they're worth on the back of a get-rich-quick myth targeting people with little to no knowledge of how currencies actually work in reality.
Iraq has between $80b-90bn of assets inc approx $2.5bn gold, $2bn SDR's and the rest is USD's. That backs 87tn Dinar at a rate under 1166:1 ($74.6bn worth) with a 10% overhead, but it's sure not going to back 87,000bn Dinar at stupid $3.5-$35 rates ($304,500bn-$3,045,000bn). All that would do is cause every bank in Iraq up to and including the CBI to go completely bankrupt within the space of 24 hrs...
There is no "RV". It's a 100% fabrication of Western "guru's" who make up to $5-10k per week on conference call & advertising revenue. The only money in the Dinar is selling & pumping it, not buying and holding banknotes at +20% their market value.
My dad is a dinarian believer too. I cant get through to him. He gifted me many millions, but I researched and sold right away. Most everything those "guru's" say is a lie and facts can be found to prove all the lies, if you want to really see the infi. Lennox, I dont think you want to see the real truth, no offense, you sound like my Dad, closed minded and doesnt even want to hear the facts or do some research. The biggest lie the Guru's use is that Iraq will be just like Kuwait when Kuwait revalued, only thing is, Kuwait never revalued. That can be proven by looking at historic currency exchange rates. Kuwait had a temporary devaluation IN country mostly, the Kuwait people fleeing the Iraq invasion were selling their Kuwait Dinar's on the cheap and many US service people and contractors purchased from the fleeing desperate people and later sold when stability returned. There was no Kuwait devaluation or RV. You also seem to forget that the Iraq was not Internationally traded currency under Saddam H., he made up the value of his Dinar and pegged it himself at what value he wanted. Why would the Dinar ever return to a fake Saddam value? Just cuz Saddam once said so? Hmmm. There are 80+ TRILLION Dinar printed and there is only approx 11 Trillion US dollars printed, if the Dinar increases to US $3, there wouldnt be enough US dollars in existence to cover the massive cash-in that would happen. Iraq also runs a deficit daily, if their Dinar went up, it would just cost them more for every item they import or owe on, and they owe alot. Oil in the ground means nothing, I knoe the Guru's say all that oil is why it will RV. If that were true then places like Africa or Afghanistan would have the highest valued currency due to their huge natural resources, but they dont add much to currency values. The things that add to currency value is a stable Govt, open markets, no threat of civil war, no constant internal disagreements (Kurds vs Shiite vs Sunni), a smooth running financial market, and not printing more money on a daily basis to satisfy your current bills (something Obama/Congress could learn), and having a balanced economy not based just on oil revenues. All the highly valued Middle East countries have opened their markets and have a much more balanced economy than Iraq. If all that means nothing, okay. With so much info available most of us are baffled by the Dinar believers.
ReplyDeleteLennox, is it the thought of being rich that keeps your hopes up or another reason. Im trying to understand how and why my Dad will not accept any other facts then the ones the Guru's keep spouting. Believers seem realize this has been going on for 10+ years now, with the RV always just an hour, a day, or a week away, yet it NEVER happens, yet the sheep continue to follow...
Great post Greg. You're 100% correct about Kuwait not "RV-ing":-
DeleteThe Kuwaiti 'RV' is a total myth
Lennox the flaw to your argument on this is that "RVs" simply are not real and are economically and mathematically impossible, the whole thing is just made up non-sense that is easily debunked by logic, mathematics and just plain old-fashioned common sense! The truth is that Iraq is not even considering and never have even considered doing such a thing, they couldn't even if they wanted to, the "RV" has not happened yet and never will simply because Iraq CAN NOT do the financially and economically impossible! Look at who supports and "pumps" the idea of a massive "RV", only people who sell (or are associated with those who sell) and/or people who operate Dinar forums promote this as an "investment" while EVERY single credible financial professional who is willing to take the time and trouble to even comment on this non-sense call it a scam! In short the ONLY people who support the idea of a "RV" are those who stand to make money from getting you to believe it while everyone from the true experts, the BBB and even some state Government agencies are warning people this is nothing but a scam.
ReplyDeleteI am willing to bet that by now you have serious doubts about the "RV" actually happening because the truth about this is so glaringly obvious that now (unlike in the beginning) a person must hide from it in order not to see it and keep on believing the lie. I am also willing to bet that you, like most others caught up in this mess, keep hanging on because you are haunted by that nagging question "what if"? What if I sell out and it really does happen, what would I do and how would I feel? Be honest, have you not asked yourself that? That one question, "what if it happens and you get left out" has probably sold more of that nearly worthless hyper-inflated paper than anything else the gurus and pumpers have come up with but the fact is it's simply illogical to even ask! Sure you would feel terrible, we all would, but it's an absolutely impossible event that has zero chance of leaving you in that predicament so why even ask? This thing has gone on for years with people asking themselves that and it has caused untold thousands to waste untold millions of dollars making a bunch of scam artists rich and there's absolutely nothing more to it than that, do you want to be a part of THAT is the real question you should be asking yourself! It all boils down to do you want to believe the banks, credible sources such as Forbes, numerous financial/investment experts using their real names with VERIFIABLE backgrounds all of whom stand to gain nothing and are interested only in stopping the scum bags or do you choose to believe in the gurus? It's a no-brainer really, a choice between credible sources that are easily verifiable or anonymous characters hiding behind a silly nickname on the internet who stand to make a lot money by creating this scam! Wake up man and look at the impossible numbers, the real truth is as simple as that no matter who you choose to believe!
http://thecurrencynewshound.com/2014/03/06/the-process-to-stop-deletion-of-the-zeros-of-the-iraqi-currency-rigged/
ReplyDelete"The aim of the process – according to the Central Bank of Iraq – to reduce the enormous mass of cash flabby, and easing inflation, which he considered the bank (monetary inflation) caused by an increase in the amount of cash pumped into the street, which invited him to foot the deletion of three zeros from the currency."
DeleteThis is talking about the redenomination that the CBI has planned since at least 2011. They're planning on removing the IQD and replacing it with a more valuable currency with a smaller money supply. For example, the 25K note would be replaced by a 25 note of equal value. The 10K note would be replaced by a 10 note of equal value ... etc. The money supply would go from X trillion to X billion. That would reduce the money supply but it wouldn't increase the value of the IQD because the new exchange rate of 1.16 to the dollar (or $.86) would only apply to the new currency. This is the dreaded lop, and it's the only way for the dinar's money supply to be significantly reduced. The net result is no gain for the IQD that speculators hold.
Still another case of the hopeful not being able to understand what they are reading, no wonder this scam is so easy to keep going! How many times have we seen obvious "LOP" articles presented as evidence of a reduced money supply or even proof of an impending "RV"? It's happening yet AGAIN today over at DV with a new article out of Iraq stating that no lifting of the zeros will be done unless and until economic and social stability can be achieved, in spite of it's very obvious reference to a "LOP" (lifting of zeros) the moaning has already started that it's going to be delayed another year or two. These delusional people take articles about lifting the zeros as something they actually want to happen and moan about delays when the lifting is delayed and cheer when there's some indication it may happen soon! LOL, it's like the condemned cheering for the executioner and anyone who makes the mistake of trying to explain it's NOT what they want is immediately pounced upon as being "negative", pathetic!
DeleteYeah...what he said. LOL!!!!!!!
ReplyDeleteWhy would the cbi print the same currency with better security features just to get rid of them. That cost a lot of money.
ReplyDeleteThey're going to replace the new bills whether they lop or not, because all bills eventually wear out. My feeling is that they intended to redenominate prior to 2014, but circumstances and politics have prevented that so far. With the current bills wearing out they had to do something, so they went ahead with this plan to replace the worn out IQD notes. These new notes are of superior quality and apparently can last up to ten years. The currency reform announcements from the CBI indicated that the IQD notes would remain in circulation for two years but would be honored at banking institutions for up to ten years, so they've given themselves ample time to enact the currency reform. While the printing of new bills suggests that the redenomination might be a few years away still, it doesn't mean that it can't happen sooner or that it won't happen at all. No matter what any of these dinar douchebags tell you, the only way that the zeros can be removed is via redenomination.
DeleteNo one is saying a RD/replacement of the currency is imminent and in fact it appears to be years away if it ever happens at all, in the mean time physical notes need to be periodically replaced just as they do in every other country and re-issuing an updated version of the same notes obviously means no change at all for the time being. A better question would be "why would they reprint the same denominations if they plan to "RV" the Dinar to even one dollar"? How many countries on this planet have literally bales of notes worth $25,000 each? Think about it, in addition to stacks and stacks of 25,000 Dinar notes held by foreign speculators there would be individual Iraqis walking around with the equivalent of $25,000 bills in their pockets! How many countries even have a $25,000 equivalent note in use? If it were to "RV" to $3 then Iraqis would be carrying the equivalent of US $75,000 dollar bills, does any of that sound even remotely logical? Do you not see how absurd it is to argue that Iraq would simply declare those 5,000/10,000/25,000 Dinar notes to be worth $1 to $3 per Dinar each? Why is it so hard to understand that Iraq will simply (if they ever get around to doing anything at all) do what many other countries in the past have done and re-denominate the Dinar by issuing a new currency at a new rate, THAT'S how it works not by simply declaring the old inflated currency to be worth more!
DeleteAssume for the sake of argument that "RV's" are possible and Iraq were to "RV" to even $1, they would then have to pay out TRILLIONS of dollars when people started cashing in all those hoarded notes! There are not enough dollars on planet Earth to back even half of Iraq's nearly 90 TRILLION Dinar liability nor does Iraq have even a fraction of the dollars that would be needed just to pay the speculators. Even if they could do this, and it's as absurd as it sounds, why would they do such a thing? Their other option is to re-denominate/LOP (a very real and common practice done by countries in Iraq's hyper-inflated state) to achieve an exchange rate on a par or even higher than the dollar and they wouldn't have to pay anyone anything? What would be the most sensible thing to do? Of course the first option is pure economic nonsense and can't happen anyway but it's the very thing that Diniarians have been told all these years and have come to believe, as absurd as it is. The bottom line is "The RV" is not real, has never been real and never will be real and is nothing more than pumper/guru generated nonsense to dupe people into buying this nearly worthless paper, you have chosen to believe in a lie and it's as simple as that.
david phillips - "Why would the cbi print the same currency with better security features just to get rid of them. That cost a lot of money."
DeleteSame reason every other country on Earth does - to combat counterfeiting and replace old worn out notes. There is no "RV" and never was so there aren't going to be a second set of banknotes despite guru lies. Welcome to reality. As dwm said - how many countries have $25,000-$800,000 banknotes? None. Why? Because they're totally useless for trade. What store keeps $799,999 in the cash till as change even in 1st-world countries? None. And what on Earth is an Iraqi on an annual $6k salary going to do with a $800k banknote? It would take him 133 years just to match the value of 1 note, assuming he never buys anything, forages for food, and pays zero tax...
Do you honestly believe American's on $40k per year will be walking round with $5m banknotes simply because the Federal Reserve told everyone to "pretend" all existing notes are "really" worth 32,000x more, to "pretend" they haven't been printing money, to "pretend" it's still the 1960's on the gold standard? No.
Yes David, the mythical "RV" is that completely divorced from reality. The Iraqi Dinar isn't undervalued, it's just plain ordinarily inflated no different to dozens of other countries. Here's a former 500 billion Yugoslav Dinar note. It's not "secretly" worth $500bn. And the 25,000 Iraqi Dinar notes aren't "secretly" worth $25,000 either.
David, I'm trying to understand your thinking. You're worried that the reprinting of the 000 dinar notes is going to cost them a lot of money but with that same logic you fail ask how is Iraq going to afford an RV of their 87 trillion dinar to $1 / $3 or whatever insane rate is being falsely pumped with only $88 billion dollars in the foreign currency reserve.
DeleteSee this is a prime example of how dinar investors want logic to prevail only when it can justify an RV but not reality.
the problem is these sheeple have no brains of their own. you throw a prayer out there and they believe anything. of course poopy is constantly calling an RV of something whether it be dinar or dong and claims that no other site is legit except BGG's dinar corp updates and not to ask him questions about anyone else's predictions (lies). I've never seen such idiots in my life. so BGG went from doing shady business deals to a self proclaimed Iraqi expert on economics and Iraqi government. he also claimed on one of his last calls that he has 2 deep sources in Iraq telling him all his info (lies). you'd think some of those sheeple over there would finally get wise and call them out. obviously you get banned for that and the sheeple are so gullible, they would commit suicide if they got banned form his site. LOL......I used to bet morons on dinar detectives that at Christmas 2014 they would still be sitting around typing replies to the out and out lies scott huse AKA DOC DINAR posts on his site. and all the sheeple care about is becoming some overnight gazillionaire without actually thinking how they would get all this money and where will it come from? they think that the CBI is building up their reserves to pay them for all their toilet paper. LOL.....why would they do that then create a huge problem for the finances or Iraq?? the sheeple need to take their blinders and rose colored glasses off and wake the hell up! they have wasted years and years and years of chat rooms, conference calls chock full of bull and dinar recraps! I just cant wait for the sheeple to have a mass uprising against the liars......I live for that day! then of course you have KRAPeroni who has on many occasions let people know he has studied this investment for 8 years or whatever and that he is right because ether IMF told him so.............can you say RETARD? AND then we have something that calls herself millionday over at dinar corp updates who claims she is going to see a reality rate etc.....1166 is reality....get used to it!
ReplyDeleteand of course their is also CBI article 32 which states that they can make any currency outside Iraq deemed worthless SO, even if they did revalue their currency, no sheeple will be a gazillionaire. of course I tried having that posted in dinar detectives many times, it was never posted and KRAPeroni dismissed the whole thing when I called him out on not posting that particular post even though it is clearly one of the articles of the CBI. he claimed that its just a normal thing on most central banks' rules and regulations but it meant nothing as far as the dinar. just like all the other goo roo info........just more lies and crap!
DeleteCan you post a link to the CBI Article 32 please ?
DeleteCBI Article 32 page Section 7 (page 23)
Deletehttp://cbi.iq/documents/CBILAW-EN_f.pdf
Looks like it's actually Article 36. Article 32 emphasizes that the IQD is a currency for in-country use by Iraqis. Article 36 states that the CBI can set whatever rules it wants for redemption of currency - locations for redemption, time allowed (after which the value would go "poof"), and so forth.
Deletethanks for posting that cruzer, I didn't see weatherfords request till just now!
DeleteAm I missing something here? I read the entire document and cannot seem to find the section you are referencing... Section 7 does not seem to state that the CBI has the authority to "make any currency outside Iraq deemed worthless".
DeletePlease help me out. Thanks.
Slingshot,,, Article 32 is part of "Section 7 - Currency" which starts on page 23. Sorry, I should've specified better as you're probably looking for a section 7 under article 32.
DeleteI have to post this question out of curiousity and that is, if dinar dealers (Money Service Business) are NOT allowed to speculate nor provide investment consult, would alluding to an RV also fall in the same clause? Here is why I bring this up. Dinar Dealers such as Sterling Currency Group (formerly Dinar Banker) and Hoffman at Dinar Inc. constantly would join calls like the IQD Team and The GateKeepers stating how they will have exchange locations setup at airports and would even fly to you locally if you had $5+ million worth of dinar to be exchanged. That "fly out $5+ million" was a red flag because I'm sure that at the popular $3.22 rate pump, those holding 2+ million dinar would require the SCG to do a WHOLE LOT of flying nationwide. And where exactly were they going to setup a secure exchange location?? It isn't like you throw up a standalone ATM at the airport and voila!! Why isn't SCG being pinged for that? I mean if they are simply a money service business why don't they now have a presence in all of the alleged locations at airports they claim they would be at? Not only that they also stated that they started setting up the locations and this was 2yrs ago YET they never disclosed that information. Are we to believe they would only setup a location to exchange ONLY Iraqi dinar when they sell other currencies?
ReplyDeleteSCG (like every IQD pumper site) includes a disclaimer, here is SCG's
Delete"DISCLAIMER
Sterling Currency Group / DinarBanker is not an accredited financial consultant. Efforts have been made to insure the accuracy of this information, but Sterling Currency Group / DinarBanker can not be held responsible for any losses as a result of its use. By making a purchase you agree that you have researched the currency and understand the risks involved in investing in foreign currency. You agree that you understand that the value of the currency may go down or up depending on circumstances beyond our control.
Sterling Currency Group / DinarBanker is NOT a bank, banker, or trust engaged in lending money, underwriting, selling securities, or acting as a financial planner, loan broker, or investment adviser. "
I suspect that lets them sell IQD and pump the RV full well knowing they are telling whoppers, and stay (perhaps barely) on the legal side of the line. They might get in trouble someday around the line "Efforts have been made to insure the accuracy of this information" since obviously that is false, but hard to say. They don't after say how MUCH effort was put into it. Adam pumper-boy Montana puts this at the bottom of every one of his own posts "Disclaimer: The information and content provided above is the opinion of Adam Montana, and is being provided for entertainment purposes only." Which likely will keep him out of jail.
Hey jrg, your buddy tlar made a guest appearance on Stryker's show tonight. Lots of the same BS you debunked.
Delete"... in investing in foreign currency." yet "...NOT....or investment adviser. " Basically they are telling you that you ARE investing in the currency and that could be debated I'm sure in a court YET they are not providing investment advice. That's a tricky one and just for shits and giggles I bet that if offered a large chunk of dough some lawyer may want to challenge that. Heh, heh, heh...
DeleteHa! Stryker and Tlar, what a couple of knuckleheads. I do have to give him credit for being honest about one thing. Stryker's intro says his motto is "The facts start here". Of course they start there, he makes them up!
DeleteThe UST has at least 5T of IQD, lie.
Bush said the Iraq war would pay for itself: lie.
No one knows what "delete the zeros means", lie. He even quotes Shabibi calling it a "redenomination", yet still claims no one knows.
Total amount of IQD ever issued "total out" is 35T, lie (that's only physical currency).
The CBI only has to cover "circulating currency" which he claims is only 2.7T, lie. I don't even know what "circulating currency" is. So if you buy lunch with IQD that has to be covered but if you put that same amount in your checking account that does not have to be covered? Total nonsense.
For the last 18 months the CBI has been buying back IQD through the auctions (well true in a sense, but they release it back just as fast via exchanges for oil revenue. How can he possibly think that 1+T IQD per week could be sustained for the past 5+ years if there is only 2.7T in Iraq? oh wait, "think" was really the wrong word to associate with Tlar and Strkyer!
They can't even be bothered to do a tiny bit of arithmetic. Tlar claims the CBI has 80 tons of gold, and that an article said their gold reserves are worth as much as their cash reserves so that must mean the gold is worth 80B USD. A metric tone (what gold is measured in) is about 35,000 oz so at $1,300 USD per oz that is about 45M USD per tone, not 1B per tone. Who Stryker really needs to get on his show is a random 3rd grader to help them with a little arithmetic!
The fact that Tlar appears to be chewing tobacco doesn't exactly enhance his image either! :-)
Cruzer: indeed the interesting times will come when Iraq finally RDs and people get upset. There might be enough posed off IQD holders for some law firm to go for a class action and combine all the defendants into one trial. That could be a big payday for the lawyers so they might do the whole thing on a contingency basis so no up front funds would even be needed.
Delete@jrg,,, "So if you buy lunch with IQD that has to be covered but if you put that same amount in your checking account that does not have to be covered? Total nonsense."
DeleteLOL... That's so true. It is the exact facade these stupid gurus want to implant in the minds of the guru dreamers. Like Iraqi's who have a bank account would not fly to the bank and with draw cash to exchange for USD!!! These idiots continue to fabricate anything that sticks to the wall even if for 10 seconds.
...and "pieps are dancing on the streets" ...... Remember a battle cry of dinar cult many years ago? RV is coming ..... 2007- ......... Nix!
ReplyDeleteCould some of the more knowledgeable members help me with some of the following questions regarding Article 36 of the CBI Law:
ReplyDelete1) Is there any published data that stipulates the time, location, and overall allowable exchange periods for a future exchange of currency (ie: during a redenomination)? It seems pretty normal to keep the wording rather general in nature in order to allow for greater freedom and flexibility once the LOP does occur; however, I am curious to know if the CBI has every made any official statements regarding this particular subsection of the statute.
2) When looking at the numerous countries that have redenominated their currencies in the past (http://en.wikipedia.org/wiki/Redenomination), what were the usual terms and stipulations? IE: What were the average allowable time periods for exchange? What is the percentage of countries that allowed/disallowed the exchange to occur outside of their borders? If currency was located outside of the countries' borders, what were the accepted exchange procedures?
Thanks ahead of time! ... This is pretty intriguing.
During the last currency changeover (from Saddam/Swiss Dinar -> NID's), they gave a 3 month time limit, and exchange was "in country" only. Here's the archived official announcement:-
DeleteNew Iraqi Currency Introduced October 15, 2003
"Starting on October 15th 2003 a new national currency known as the 'new Iraqi dinar' will begin to replace the existing currency, the 'old dinar', and the currency used in the North of Iraq, the 'swiss dinar'. The new Iraqi dinar will create a single unified currency that is used throughout all of Iraq and will also make money more convenient to use in people's everyday lives.
The currency exchange will last from October 15th 2003 to January 15th 2004. Currency can be exchanged at any time during this three-month period. Locations where money can be exchanged will include banks and other official locations, for example post offices, throughout Iraq. No fees will be charged for exchanging currency.
The conversion rates for new Iraqi dinars will be as follows:
- one 'old dinar' will be exchanged for one new Iraqi dinar;
- one unit of the 'swiss' dinar will be exchanged for 150 new Iraqi dinars.
Bank accounts and financial contracts in Swiss dinars will also be converted at the rate of 150 new Iraqi dinars for every one Swiss dinar. Bank accounts and contracts in old Iraqi dinar will not change.
What will be the rate that is used to convert old currency into new currency?
People who hold one old Iraqi dinar will receive one new Iraqi dinar. People who have one 'Swiss' dinar will receive 150 new Iraqi dinars.
Why were these rates selected?
These rates will help to equalize prices throughout all of Iraq -- helping to ensure that the prices of goods will be roughly the same across the whole country. Key Iraqis, including officials at the Iraqi Central Bank as well as leaders of the autonomous regions in northern Iraq, were consulted on this issue and fully supported this decision.
Also note this gem at the bottom:-
Can dollars also be exchanged for new Iraqi dinars? What will be the conversion rate for dollars?
Dollars will not be converted directly into new dinars during the official exchange. Following the exchange, dollars will be convertible directly into new dinars at the market exchange rate. New dinars will also be convertible into dollars as well as other currencies at the market exchange rate.
Will it be possible to exchange currency outside of Iraq?
No. The only official currency exchange locations will be located within Iraq.
http://www.usembassy.it/file2003_10/alia/a3101405.htm
Thanks very much for the response Brian!
DeleteArticles have talked about a 1 or 2 year period where both currencies would be accepted in the market place with prices posted in both. Some have suggested an even longer period where banks would accept, but not offer, the IQD, maybe up to 10 years. When they actually go to do it, presumably a detailed document will be published. Such is usually done months ahead of time, if not a year or so. But its totally up to Iraq. The redenomination of the original Dinar to the Bremer was only over 4 months and then that was it, the Saddam dinars were demonitized. In the other extreme the biggest RD ever has to be the Euro and that took place over only a few months relative to use in the market, though in some countries you can exchange the original currency forever at the respective central banks (http://en.wikipedia.org/wiki/Euro#History). So it really varies all over the map.
ReplyDelete