Thursday, June 12, 2014

Crisis in Iraq

I've been enjoying a break from the dinar over the last few weeks, but recent developments inside of Iraq have compelled me to write again.  The second largest city of Mosul fell into the hands of Islamic militants, along with Saddam Hussein's hometown of Tikrit.  Hundreds of thousands of people fled their homes amidst the fighting and turmoil.  Many Iraqi soldiers apparently fled as well, inspiring Maliki to call on Iraqi citizens to take up the fight.  The situation is now chaotic to the point of threatening the fragile democracy that was left behind when coalition forces left at the end of 2011. 

While we can assign political blame to either Obama for allowing the situation to deteriorate to this point with apparently no plan or willingness to act, or to his predecessor Bush for creating the mess in the first place with seemingly no well-thought-out plan for the post-war Iraq, the facts are not very encouraging.  Iraq may well be headed toward toward either a failed state or an Islamic theocracy like their neighbor Iran.  The best case scenario would be a return of coalition forces to an occupied state like they had three years ago, a step back rather than forward for Iraq's new government. 

One report stated that the miliant group ISIS stole $429 million worth of dinar (500 billion dinar) from a bank in Mosul.  That being the case, how can anybody believe that any revaluation is now possible?  To raise the value of the dinar now would only increase the value of the currency held by the forces trying to topple Iraq's government.  A much more likely scenario would be for the government to act now to carry out the currency reform plan to demonetize the IQD, thereby leaving the currency that ISIS stole worthless.  That of course would also leave the currency held by dinar speculators worthless.  Whether they'll do that or not I won't venture to guess, but it's safe to say that the "RV today, cash in tomorrow" BS has never been more obvious, and the idea of the dinar being released on a free float where it will skyrocket in value has never been more laughable.

Despite the current crisis dinar gurus were doing their best to calm their followers and keep their crumbling empires intact.  "Maliki is behind this because he knew he was losing the election."  "Saudi Arabia and Iran are behind it."  "It's actually good for the dinar investment because it gives Maliki more clout."  "Iraq needs the RV now more than ever!"  Blah, blah, blah ..... What did you expect?  You think these guys are going to just toss away this gravy train of dinar investors buying their investment crap and providing ad revenues for them by admitting that the RV is dead?  Of course not!  These guys are unconscionable and incorrigible.  They'll milk this dinar thing for all it's worth until a better scam comes along.

At this point I'd like to remind everybody of what I wrote in my first post called "RV Reality Check" in September of 2011.

"Don't put any more into the dinar than you can afford to lose. PERIOD!!! Anybody who tells you it's a sure thing and that you're buying a winning lottery ticket is either stupid or dishonest. Some have the idea that you can always sell your dinar and recoup most of your money. Really? Have you tried that? A lot of people bought their dinar from currency dealers who are no longer in business. You can try selling your dinar on ebay but you'll have to take an even bigger hit there. And even if you could sell back to the dealer you bought from, who's to say that the dinar won't go down in value? I mean anything could happen. An earthquake. A meteor. Civil war. A coup. War with Iran. If the dinar is ever completely devalued I can assure you that none of the dinar dealers will give you a plug nickel for them. There's absolutely no guarantee that you won't wake up tomorrow and find that every dollar you invested in the IQD is gone."

That warning has never been more applicable than it is today.  Hold on to those dinars at your own peril, folks.  But even if somehow Iraq's crisis were to be magically resolved, I maintain as I have from day one of this blog that nobody will get rich by holding dinar.  It's just not possible from the standpoint of economics.

I feel for the people of Iraq.  They've been through over thirty years of war and tyranny, and now this.  I also feel for the hundreds of thousands, perhaps millions, of people who have been duped into buying dinar in the belief that it could experience a substantial revaluation and change their lives.  After nearly three years of blogging about this topic and warning people about the scam and scammers however, I have to admit that my compassion is wearing thin.


  1. Very true. It is a terrible situation and the people of Iraq will pay the price. Without a doubt, the country will be in a full fledged civil war very soon. Unfortunately, I think this crisis provides great cover for the clowns. The RV was a scam the whole time but some of the clowns will use this crisis as an excuse to cover their tracks. They'll claim everything was on track and moving forward until this happened (which, of course, no one could have predicted). What a convenient exit strategy.

    I was really pulling for a peaceful, prosperous Iraq. The people of Iraq deserved a chance to make their own way in the world based on their own talents, skills and abilities. Another nice bonus would have been watching the clowns squirm as Iraq prospered yet their currency's exchange rate still didn't massively RV. The RV scam may have dragged on longer but it would have resulted in more of the clowns being exposed as scammers. Too bad (on both counts). The people of Iraq are suffering and dying and many of the scammers just got left off the hook.

  2. Just when I though the Dinar scam had sunk to about as low as it could go there seems to be a new low being hit on the dinar forums! I am absolutely sickened by these greedy A$$#*!^$ crying about all the suffering going on in Iraq and about America's need to rescue these "poor people"! It's so glaringly obvious that the ONLY people these idiots are really sorry for is themselves! They would have America send in our young men and women to die and be maimed plus kill and maim untold thousands of additional innocent Iraqis as collateral casualties just to save the "RV", which of course was never going to happen in the first place! These SCUM (and that's what they are, the lowest of the low!) are willing to sacrifice other people's lives for greed, greed based on nothing but a fairytale, in the name of compassion for the Iraqis when their real concerns are only themselves! How many of these people would even care one way or the other about what happens to Iraq if they didn't own Dinar? How many of these people who are suddenly shedding all these tears of compassion for the Iraqis are also crying about all the suffering in neighboring Syria? How many of these greedy selfish idiots cried about Libya's people?

    The fact is most of them would not even pay attention to what's happening in Iraq even if they saw it on the news and most would have an "Oh well, whatever, those people are always fighting " attitude even if they did see it were it not for the fact they had been scammed into buying Dinar! These people are willing to have thousands of people die in a war defending their dreams of riches on the pretext of defending the "poor Iraqis"! This is the most sickening aspect of this stupid scam yet!

    1. Dwm spot on. It's sickening what's being said for their own greed. I've been to Iraq and witnessed what's it like and I'm glad our president won't send in troops now. We should have never been there to begin with because as you can see this is what happens. And now these dinar idiots are blaming Obama for not sending in kids to die for their greed. It's a terrible situation for the people for Iraq but it's time to stop invading countries and making them worse. It's time for them to take care of themselves. Im tired of being the worlds police. And you should here the other crap being said on how this is all planned by Maliki to take control and blah blah blah. Just total idiots

  3. It's very sad that Iraqi's are going through this, though if the cloud has a silver lining - it's also more obvious now than ever of just how absurd the "RV" scam is. Ebay auctions for Dinar by private sellers have been a steady 6,500-7,000 per week (338,000-364,000 per year). This week they're up to 7,700 - another 10-15% increase and have now broken the 400,000 per year barrier. Only some of these are regular sellers - most are just one-time auctions of former "RV investors" bailing out quietly. Despite the moronic drivel churned out by guru's and their emotionally desperate devout followers, I believe many are underestimating just how many people who bought Dinar are fast waking up to the scam and simply quietly selling up without making any statement.

    DWM - "Just when I though the Dinar scam had sunk to about as low as it could go there seems to be a new low being hit on the dinar forums! These SCUM (and that's what they are, the lowest of the low!) are willing to sacrifice other people's lives for greed, greed based on nothing but a fairytale, in the name of compassion for the Iraqis when their real concerns are only themselves!"

    I have to sadly agree with dwm too. Reading some comments by "RV investors" on some forums, the shocking level of raw blinding greedy arrogance and wildly over-inflated sense of entitlement is unreal. Hundreds of thousands of Iraqi's have just fled their homes, dozens if not hundreds dead, about 15m Iraqi women now living in abject terror of the worst case of a stone-age misogynistic theocracy and all some "investors" can do is sneer "I won't get my winnings I deserve" like some pompous medieval imperialists sitting on their thrones looking across their imaginary empire down at the "little brown people"... Likewise for some others, the feigned 'oh let us pray for them' "compassion" as a cover for what they really want is incredibly transparent. If there were two "shakes head in disbelief" and "how low can you go" 'smileys', I'd insert them right here...

    "Love is blind and greed insatiable" - Chinese Proverb

    1. Actually I'd like to correct that Ebay figure. I just checked again on Ebay auctions and it's now up to 9,000x auctions - that's a whopping 30% increase in people dumping Dinar... MSB "buy back" rate have also fallen to as little as $700 per 1m (for $860 worth of notes), so it looks like they're experiencing high demand for "buy-backs"...

    2. LOL! Check E-Bay again in a few hours and I bet it will be a much higher number! Not only that but the sale prices will plummet along with a corresponding rise in the number of auctions that go unsold. I predict that for the next few days the hopelessly addicted will be unable to pass up all the new found "bargains" (BARGAINS, yeah right!, Lol!) on E-bay then as the numbers of auctions climb and the sale prices decline even they will stop buying, I really think E-Bay is going to be a leading indicator of what's happening for the scam and it's going to be fun to watch for the next few days.

  4. Great Article Sam, I started warning the zombies on #wearethepeople in Feb when Fallujah fell that the country was in a civil war but these idiots didn't blink an eye. Baghdadinvest has been over there on vacation and I emailed him last night and him and his wife are safe.The tnt zombies are in shock. I've had 4 today apologize to me and said I was right and others asking each other because they blocked me lol about what they are going to do. I watched a video that Isis made going down the road and killing servicemen driving by on leave.It's horrible how somebody can shoot a person like that with no regrets. I've called and emailed 6 dealers asking them to buy my 5 million dinar which I don't have lol 2 days ago and they said they would get back to me so I'll keep you abreast if one really does get a hold of me which I doubt it. Like any pyramid scheme it's imploding now when more people want their money back than want to buy it. PEACE MIKE DISTON alias AL AZIZ the Iraqi lol

  5. Sam, as always, thanks so much for this site and all the effort you have put into it. For me, it's been almost exactly a year since I first became aware of these scammers when my ex-wife got involved in it when a friend "gave" her 1 million Dinar and told her she would soon be rich. This was just before the start of Ramadan in 2013 and I remember at the time all the scammers were going on about how the RV was going to be a gift to the Iraqi people for Ramadan. Up until recently I was wondering to myself if the scammers were going to recycle that for Ramadan this year. But, with everything going on in Iraq with the insurgency and cities seemingly toppling like dominoes, I am disgusted (although not surprised) as to how the scammers are once again taking advantage of human misery and suffering to con folks and keep the scam afloat. For example, I just read a post on Dinar Guru that read, in part,

    "When I saw the news about the State of Emergency I knew it was a false flag. This was part of the plan all along to have some crisis created and then the troops would be there to protect the banks and change centers. I am not concerned, I am excited, encouraged. I do think the RV will happen in June, if not, in July."

    This is sad, absurd, and ridiculous.

    1. With regred have to inform "investors" that Maliki vehicles hauling all foreign currency from CBI to airport! " blessings" are all over on the ground one can pick up baskets of it! Cabaret is over.

  6. Thank you for speaking the truth and alerting people to the SCAM that is the dinar. I myself purchased some thinking it was a lotto ticket and nothing more. I just couldn't believe how a former friend thought it was "100% solid investment". The more and more I read the trash from Adam Montana and another clown I realized it was a scam. I just find it incredible how he was able to create this myth about the dinar and how I myself got sucked in. I'm just great-full that I didn't "invest" thousands into this crap.

  7. Hey Sam I just love your blog.

    I came across it a few years ago looking for information about IQD after my parents confided in me while I was visiting them that they had invested in this scam and of course tried to get me to invest too. We had found a bottle of champagne in their fridge while grabbing a beer so innocently asked what the occasion was, had they won lottery? Their response was "just about" and they did not want to let the cat outta the bag just yet as they wanted to surprise us, but then they spilled. OMG.

    They are in so deep with these gurus, conference calls and scramblers on their computers its so ridiculous. They babble on and on about whats going on in Irag and Maliki like they are correspondents for CNN. Yet they don't even watch the news...Its laughable. All their "intel" is garbage because they have been so-o brainwashed. They were giddy as school kids when they told us, telling us it was gonna RV any minute that they were just waiting for the call and that then we were gonna uncork that champagne and call a limo and go out to the most expensive restaurant of my choice for dinner. They were picking out mansions, jets, talking to lawyers. Ridiculous.

    Well that was over 3yrs ago and of course no RV has occured. About once a year for fun I tell her how much I have made with my investment portfolio and ask her how her RV is going. Sadly her entire portfolio is IQD. Just last night I said to her, well things are not looking too good on the RV front eh? knowing from watching the news (unlike my parents) what is going on at the moment. And her response was "do not talk about things you do not understand." She refuses to believe the truth. She gets very angry and seriously believes that I am the fool. Its so sad. It amazes me how intelligent people get conned like this. I told her look, I have done my research, I have lurked on some sites, its a scam. I have sent her links to threads proving her wrong. Yet she still thinks that I am stupid for not investing and she can't wait to prove me wrong. I keep telling her I would love to see that really I would but it simply isnt going to happen. My folks have a pattern of investing in scams, as a kid I remember several pyramid scams, amway, shaklee, jewelaway, scientology, now this. They have always loved a get rich quick scheme. They have lost all their money as a result. I wonder how many more years it will take for them to wake up? Thankfully their poor judgement has made me alot smarter with my own finances. Looks like my inheritance will be shoeboxes full of IQD. Woohoo. lol


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