Last January 1 I made three predictions. I predicted that neither the dinar nor the Vietnamese dong would increase by more than 20% for the year. The year ended with the same exchange rate of 1166:1 for the dinar and the dong was at $.00004745 on January 1, 2014 and $.00004682 on January 1, 2015. That's a decrease of 1.3%. I also predicted that Iraq's M2 would increase in 2014. The M2 finished at 88 trillion which is more than the 84 trillion it was at a year ago, albeit not as much as I had anticipated. So I was 3 for 3. And while I didn't predict that Maliki would win the election, I stated my belief that he would probably win and he did. He was removed shortly thereafter however, due to the sectarian division he fostered which led to the current ISIS crisis.
Also in December we had more douchebaggery from Adam "Wolfyman" Montana in this little slice of stupidity in his December 17 weekly Q & A:
First of all, a revaluation to a dime would be a 10,000% increase, which is only about 9,965% higher than the largest revaluation in history. And on a managed float like Iraq is on they back their currency 100% with their foreign currency reserves, which last I saw was about $80 billion. So an RV to a dime means that they would only be backing the dinar to the tune of about 1% of their monetary base ... in a country on the brink of failing, mind you.
And second, if it's a managed float how is the market going to drive it up? By definition a managed float is not market driven! It's managed!!!
And people pay this guy for his expertise ... why?
Marcus Curtis just published a book on the global currency reset that you might want to check out. I'm putting a link to it on the top right. It's a bit long and more than a little technical, but it's worth the effort if you want to understand what's going on with the GCR. Also, check out Nick Giammarino's site Global Currency Reset
And now ................ (drumroll) ...........................
The 2014 Douchebag of the Year Award
|TNT Tony Renfrow|
So 2014's Douchie goes to both Tony and Davy for their shameless (albeit creative) purveying of douchedoody to naive and inexperienced currency speculators all across dinarland.