Thursday, June 12, 2014
Crisis in Iraq
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.
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.
Posted by Sam I Am at 3:39 AM