http://video.cnbc.com/gallery/?video=3000346909
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Addressing the hype surrounding the Iraqi dinar to prevent more people from being misled about this investment.
We will be updating this blog periodically so please join to be notified about the updates.
Thursday, January 15, 2015
CNBC Video About the Dinar Scam
Just learned about this from Kenny Lejkowski Sr. Thanks, bud!
http://video.cnbc.com/gallery/?video=3000346909
Everybody should have caught on by now, but just in case a few are still on the fence this should make it clear. Currencies don't increase in value by 100,000%. Have a good weekend.
http://video.cnbc.com/gallery/?video=3000346909
Thursday, January 8, 2015
2014 in Review
Happy New Year! Yes, another year has come and gone and still no RV. Another 365 days of conference calls, RV predictions, GCR intel, and wealth management/tax avoidance advice from your favourite dinar douchebags. All for nada. The IQD is still at 1166:1, the VND keeps declining in value, and the Zimbabwe dollar is still worthless. We're still waiting for the mythical TRN (Treasury Reserve Notes) to appear. We're still waiting for any announcement about a return to asset backed currencies. We're still waiting for Maliki's replacement Al-Abadi (who took over in August) to tell the CBI to pull the trigger on the millionaire-creating revaluation of the dinar. What's taking them so long, anyway? I need the money for my new Lamborghini to start that new orphanage.
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.
The dinar community was all abuzz around Christmas with talk of Shabibi returning as governor of the CBI. The hopeful were doing a collective high-5 in the mistaken belief that Shabibi's plan was to revalue the dinar by 100,000%, and that his return means that day will be here soon. Unfortunately for them Dr. Shabibi's plan was always and most likely still is a redenomination, which means that the IQD that speculators hold will become worthless rather than 1,000 times more valuable. See my post Shabibi Videos.
Eagle1 was back with a bank rumour of a different sort. Supposedly he had two sources who told him that Wells Fargo was going to be dealing in dinar again, and the announcement was supposed to occur on Christmas Eve. Well as of 1/7/15 the Wells Fargo website still says "Wells Fargo does not sell Iraqi dinar in any location - online, by phone, or in our stores." So it looks like Eagle1's batting average is still a big ol' goose egg.
Also in December we had more douchebaggery from Adam "Wolfyman" Montana in this little slice of stupidity in his December 17 weekly Q & A:
"I expect it to come out as a managed float at about .10 and then the market will drive it up."
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?
And then there was the return of tlar. A few months ago he said that he would stop posting if his RV prediction didn't work out, but of course he's back with more Tom Foolery. This time it's something about the budget and the ISX will bring the RV in January. Here's a post I did about tlar last year, for anybody who is tempted to believe that this guy has good information.
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) ...........................
Back in February Tony "TNT" Renfrow launched his infamous "We Are The People" Twitter campaign that claimed the elites were cashing in their dinars at the revalued rate while us peons are left holding onto dinars that are worth less than a tenth of a penny to anybody who is interested in buying them. Unexpectedly the BBC got wind of the campaign and did a story on it, exposing the use of bogus followers on Twitter. Tony continued shoveling similar BS throughout the year .... contract rates, NDA's (Non-Discolure Agreements), and 1-800 numbers to inform people when and where they could cash in. For this douchebaggery Tony wins his second consecutive Douchebag of the Year award. Congrats!
However ......
Equally doucheworthy was Dave Schmidt, the former Washington state senator turned dinar guru who went from predicting the RV to talking to "The Ambassador" about the vast storehouse of gold entrusted to the Asian Dragon family that was about to be dispensed to worthy souls all around the globe. Seems Davy had an epiphany that there wasn't enough money to pay everybody with a big RV, so he latched on to the GCR (Global Currency Reset) and Prosperity Package nonsense and started touting it, instead.
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.
.jpg)
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.
 |
| Shabibi |
 |
| Eagle1 |
Also in December we had more douchebaggery from Adam "Wolfyman" Montana in this little slice of stupidity in his December 17 weekly Q & A:
 |
| Adam Montana |
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?
 |
| tlar |
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 |
However ......
 |
| Dave Schmidt |
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.
Monday, December 1, 2014
December Update
Hello again. I only have a few things to discuss this month.
There was a discussion at Dinar Vets about our friend Marcus Curtis' post a while back entitled "Trials for Dinar Holders". In that post MC postulated that Iraq was actually using dinar sales to feed their foreign currency reserves, and that there are about 25 trillion dinar in the hands of speculators. The responses were predictable. "He's a guitarist and an armchair economist" .... "That was before Maliki was removed" ... "It's just a blog; he ddn't even bother to purchase a domain name" ... etc. No real discussion occurred as to the links Marcus provided or the facts he presented.
First of all, the fact that he plays the guitar has nothing to do with whether or not his analysis is valid. After all, what qualifications does Adam "Wolfyman" Montana or any other guru have? What matters is whether or not his theory holds water, and if it's based on facts.
Second, as I've mentioned for some time Maliki has nothing to do with whether or not there's an RV. He's been gone for four months and no RV. I'm confident that four months or four years from now there still won't be any RV of the IQD. Nothing more than a few % anyway. The bloated money supply of the IQD is the issue, not Maliki or Obama or Madame Wu or anybody else. It's about the numbers.
And third, Marcus has never run any ads or made any money from his site, so why should he purchase a domain name? And again, domain name or no domain name ... what counts is facts. It's a fact that the CBI financials show 34 trillion dinar outside of banks, and that less than 10 trillion can be accounted for within Iraq. It's a fact that their money supply steadily increased from 2004-2013. (It seems to have stalled over the past year or so. By a strange coincidence dinar sales have really fallen during that time. Dealers don't really need to buy from out of country any more because they can get all the dinar they want from disillusioned specuators, which would support Marcus' theory that they have used the sale of dinar to grow their foreign currency reserves. No dinar exports for USD = no FCR growth = no expanding money supply. With fewer USD flowing into Iraq for oil due to lower oil prices, and with fewer USD being exchangd for IQD, my guess is that the market value of the IQD will take a hit in 2015 which could trigger another round of inflation, which ironically enough could lead to an increase in the official value of the IQD from its currenct value of $.000857. I wouldn't be surprised to seem them bump the value up a few % next year. Anyway, back to the original topic.) And it's also a fact that dinar from outside of Iraq wasn't accepted during the previous two currency changeovers in Iraq. Marcus provides links for all of that.
So LAC (the lady who asked if there was anything to what Marcus said) take note of the fact that nobody who responded to you dealt with any of these facts. Then form your own conclusions.
On Nov. 17 Breitling said that in the last five or six years the dinar has gone up 26% while the S&P has only gone up about 12%. I thought it might be nice to look at some charts to see if there's anything to this.
http://finance.yahoo.com/echarts?s=%5Egspc+interactive#%7B%22range%22%3A%2210y%22%2C%22scale%22%3A%22linear%22%7D
As you can see the S&P six years ago was at 903, and today it's at 2041. That would be an increase of 126%, or about 21% per year. Now let's take a looksie at the dinar.
http://www.xe.com/currencycharts/?from=IQD&to=USD&view=10Y
As you can see, the dinar was at $.00085 six years ago and today it's at $.000857 which is an increase of about 8/10 of 1%, or about .0013% per year.
While I'm talking about B, let me issue a reminder about his claim that the Ministry of Planning's feasibility study told us that they're going to raise the value to $1 and eventually $3. That study said that they recommended REDUCING the exchange rate from $3.20 to $1.13. The IQD was never valued at more than a tenth of a penny. The feasibility study is from the Saddam era and is 100% irrelevant. The issue that they were adressing was that depreciation of the Saddam dinar during the 80s had rendered the $3.20 valuation obsolete.
http://dinardouchebags.blogspot.com/2012/08/mop-report.html
It turns out that the study was from 1984 and was revised in 1990. As our friend Brian has pointed out more than once, basing your dinar speculation on this feasibility study makes about as much sense as shopping for a house based on real estate prices from the '70s. I wrote about this two Decembers ago.
In turn, The Guidance For Technical And Economic Feasibility Studies And Post-Project Assessment Of Development Project (Regulations No. 1 for the Year of 1984 and it’s amendment for the year of 1990) has specifies a series of steps to be undertaken, which lead to the completion of a Capital Budget.
http://dinardouchebags.blogspot.com/2012/12/seasons-greetings.html
Also, as you've probably heard in the news the price of oil has dropped about 40% since June. What does that mean for dinar investors? Well, it's good news of course! This means they'll have to hurry up and RV because they're going to be hard up for cash, you see. At least that's what you'll hear from the gurus. Interestingly enough it's also good news for dinarians when the price of oil goes up, because they'll be able to RV at a higher rate. And it's also good news when the price remains stable because Iraq needs stability, you know. So no matter what happens it's all good. (facepalm)
The truth is things are really bad in Iraq, what with ISIS controlling a good amount of the country and sectarian division and all. This slump in oil prices (remember that oil revenues account for nearly 90% of their GDP) only makes things worse. The gurus won't tell you this of course, but I will. Right about now anybody with any sense who has dinar ought to be questioning this "investment". Don't worry, you're not alone. I went through the same epiphany a little over three years ago, and many of my readers did as well. We all make mistakes in life. The important thing is that you learn from them and move on.
And finally, I'd like to issue my annual reminder that the gurus love to predict an RV by the end of the year, and they're ALWAYS wrong. They'll be wrong this time, too.
There was a discussion at Dinar Vets about our friend Marcus Curtis' post a while back entitled "Trials for Dinar Holders". In that post MC postulated that Iraq was actually using dinar sales to feed their foreign currency reserves, and that there are about 25 trillion dinar in the hands of speculators. The responses were predictable. "He's a guitarist and an armchair economist" .... "That was before Maliki was removed" ... "It's just a blog; he ddn't even bother to purchase a domain name" ... etc. No real discussion occurred as to the links Marcus provided or the facts he presented.
First of all, the fact that he plays the guitar has nothing to do with whether or not his analysis is valid. After all, what qualifications does Adam "Wolfyman" Montana or any other guru have? What matters is whether or not his theory holds water, and if it's based on facts.
Second, as I've mentioned for some time Maliki has nothing to do with whether or not there's an RV. He's been gone for four months and no RV. I'm confident that four months or four years from now there still won't be any RV of the IQD. Nothing more than a few % anyway. The bloated money supply of the IQD is the issue, not Maliki or Obama or Madame Wu or anybody else. It's about the numbers.
And third, Marcus has never run any ads or made any money from his site, so why should he purchase a domain name? And again, domain name or no domain name ... what counts is facts. It's a fact that the CBI financials show 34 trillion dinar outside of banks, and that less than 10 trillion can be accounted for within Iraq. It's a fact that their money supply steadily increased from 2004-2013. (It seems to have stalled over the past year or so. By a strange coincidence dinar sales have really fallen during that time. Dealers don't really need to buy from out of country any more because they can get all the dinar they want from disillusioned specuators, which would support Marcus' theory that they have used the sale of dinar to grow their foreign currency reserves. No dinar exports for USD = no FCR growth = no expanding money supply. With fewer USD flowing into Iraq for oil due to lower oil prices, and with fewer USD being exchangd for IQD, my guess is that the market value of the IQD will take a hit in 2015 which could trigger another round of inflation, which ironically enough could lead to an increase in the official value of the IQD from its currenct value of $.000857. I wouldn't be surprised to seem them bump the value up a few % next year. Anyway, back to the original topic.) And it's also a fact that dinar from outside of Iraq wasn't accepted during the previous two currency changeovers in Iraq. Marcus provides links for all of that.
So LAC (the lady who asked if there was anything to what Marcus said) take note of the fact that nobody who responded to you dealt with any of these facts. Then form your own conclusions.
On Nov. 17 Breitling said that in the last five or six years the dinar has gone up 26% while the S&P has only gone up about 12%. I thought it might be nice to look at some charts to see if there's anything to this.
http://finance.yahoo.com/echarts?s=%5Egspc+interactive#%7B%22range%22%3A%2210y%22%2C%22scale%22%3A%22linear%22%7D
As you can see the S&P six years ago was at 903, and today it's at 2041. That would be an increase of 126%, or about 21% per year. Now let's take a looksie at the dinar.
http://www.xe.com/currencycharts/?from=IQD&to=USD&view=10Y
As you can see, the dinar was at $.00085 six years ago and today it's at $.000857 which is an increase of about 8/10 of 1%, or about .0013% per year.
While I'm talking about B, let me issue a reminder about his claim that the Ministry of Planning's feasibility study told us that they're going to raise the value to $1 and eventually $3. That study said that they recommended REDUCING the exchange rate from $3.20 to $1.13. The IQD was never valued at more than a tenth of a penny. The feasibility study is from the Saddam era and is 100% irrelevant. The issue that they were adressing was that depreciation of the Saddam dinar during the 80s had rendered the $3.20 valuation obsolete.
http://dinardouchebags.blogspot.com/2012/08/mop-report.html
It turns out that the study was from 1984 and was revised in 1990. As our friend Brian has pointed out more than once, basing your dinar speculation on this feasibility study makes about as much sense as shopping for a house based on real estate prices from the '70s. I wrote about this two Decembers ago.
In turn, The Guidance For Technical And Economic Feasibility Studies And Post-Project Assessment Of Development Project (Regulations No. 1 for the Year of 1984 and it’s amendment for the year of 1990) has specifies a series of steps to be undertaken, which lead to the completion of a Capital Budget.
http://dinardouchebags.blogspot.com/2012/12/seasons-greetings.html
Also, as you've probably heard in the news the price of oil has dropped about 40% since June. What does that mean for dinar investors? Well, it's good news of course! This means they'll have to hurry up and RV because they're going to be hard up for cash, you see. At least that's what you'll hear from the gurus. Interestingly enough it's also good news for dinarians when the price of oil goes up, because they'll be able to RV at a higher rate. And it's also good news when the price remains stable because Iraq needs stability, you know. So no matter what happens it's all good. (facepalm)
The truth is things are really bad in Iraq, what with ISIS controlling a good amount of the country and sectarian division and all. This slump in oil prices (remember that oil revenues account for nearly 90% of their GDP) only makes things worse. The gurus won't tell you this of course, but I will. Right about now anybody with any sense who has dinar ought to be questioning this "investment". Don't worry, you're not alone. I went through the same epiphany a little over three years ago, and many of my readers did as well. We all make mistakes in life. The important thing is that you learn from them and move on.
And finally, I'd like to issue my annual reminder that the gurus love to predict an RV by the end of the year, and they're ALWAYS wrong. They'll be wrong this time, too.
Happy Holidays!
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