tag:blogger.com,1999:blog-55963795802039152552024-03-14T11:49:25.815-07:00Dinar DouchebagsAddressing the hype surrounding the Iraqi dinar to prevent more people from being misled about this investment.<br>We will be updating this blog periodically so please join to be notified about the updates.Unknownnoreply@blogger.comBlogger279125tag:blogger.com,1999:blog-5596379580203915255.post-3037463944406316202016-03-25T09:25:00.000-07:002017-02-07T08:09:55.644-08:00I'm Back!That's right, folks! Just when the scammers thought it was safe to go back in the water, Sammy returns. Only I'm not really reactivating my blog. I'm merging my posts with Marcus Curtis' "<a href="https://iraqcurrencywatch.com/">Iraq Currency Watch</a>" blog. I'll be posting there from time to time and participating in his podcasts, so make your way over to Marcus' site and drop me a line. I'd love to hear from some of the old gang. Happy New Year!<br />
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<a href="https://whychristianity.com/">Why Christianity</a><br />
<a href="https://globalcurrencyresettruth.com/">The Truth About The Coming Global Currency Reset</a><br />
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<br />Unknownnoreply@blogger.com7tag:blogger.com,1999:blog-5596379580203915255.post-75763043968580658222015-01-15T14:34:00.000-08:002016-09-17T01:19:40.440-07:00CNBC Video About the Dinar ScamJust learned about this from Kenny Lejkowski Sr. Thanks, bud!<br />
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<a href="http://video.cnbc.com/gallery/?video=3000346909">http://video.cnbc.com/gallery/?video=3000346909</a><br />
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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.<br />
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Unknownnoreply@blogger.com8tag:blogger.com,1999:blog-5596379580203915255.post-87998812522710403162015-01-08T16:45:00.000-08:002016-12-01T22:06:12.550-08:002014 in ReviewHappy 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 <strike>for my new Lamborghini</strike> to start that new orphanage.<br />
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Last January 1 <a href="http://dinardouchebags.blogspot.com/2014/01/happy-2014.html" target="_blank">I made three predictions</a>. 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. <br />
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<tr><td class="tr-caption" style="text-align: center;">Shabibi</td></tr>
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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 <a href="http://dinardouchebags.blogspot.com/2013/10/shabibi-videos.html">Shabibi Videos</a>.<br />
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<tr><td class="tr-caption" style="text-align: center;">Eagle1</td></tr>
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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 "<a href="https://www.wellsfargo.com/foreign-exchange/">Wells Fargo does not sell Iraqi dinar in any location - online, by phone, or in our stores</a>." So it looks like Eagle1's batting average is still a big ol' goose egg.<br />
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Also in December we had more douchebaggery from Adam "Wolfyman" Montana in this little slice of stupidity in his December 17 weekly Q & A:<br />
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<tr><td class="tr-caption" style="text-align: center;">Adam Montana</td></tr>
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<b><span style="color: #990000;">"I expect it to come out as a managed float at about .10 and then the market will drive it up."</span></b><br />
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<span style="color: black;">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. </span><br />
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<span style="color: black;">And second, if it's a managed float how is the market going to drive it up? By definition<b> a managed float is not market driven! It's managed!!! </b></span><br />
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And people pay this guy for his expertise ... why?<br />
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<tr><td class="tr-caption" style="text-align: center;">tlar</td></tr>
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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. <a href="http://dinardouchebags.blogspot.com/2014/06/tom-foolery.html">Here's a post I did about tlar last year</a>, for anybody who is tempted to believe that this guy has good information. <br />
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<br />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 <a href="http://globalcurrencyreset.net/">Global Currency Reset</a><br />
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<b><span style="color: #20124d; font-size: large;">The 2014 Douchebag of the Year Award</span></b></div>
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<tr><td class="tr-caption" style="text-align: center;">TNT Tony Renfrow</td></tr>
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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!<br />
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However ...... <br />
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<tr><td class="tr-caption" style="text-align: center;">Dave Schmidt</td></tr>
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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. <br />
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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.<br />
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<br />Unknownnoreply@blogger.com7tag:blogger.com,1999:blog-5596379580203915255.post-53977001253682349232014-12-01T20:42:00.001-08:002016-09-17T01:19:40.403-07:00December UpdateHello again. I only have a few things to discuss this month.<br />
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There was a discussion at Dinar Vets about our friend Marcus Curtis' post a while back entitled "<a href="http://iraqcurrencywatch.wordpress.com/2014/08/04/trials-for-dinar-holders/" target="_blank">Trials for Dinar Holders</a>". 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. <br />
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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. <br />
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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.<br />
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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. <br />
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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.<br />
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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.<br />
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<a href="http://finance.yahoo.com/echarts?s=%5Egspc+interactive#%7B%22range%22%3A%2210y%22%2C%22scale%22%3A%22linear%22%7D" target="_blank">http://finance.yahoo.com/echarts?s=%5Egspc+interactive#%7B%22range%22%3A%2210y%22%2C%22scale%22%3A%22linear%22%7D</a><br />
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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.<br />
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<a href="http://www.xe.com/currencycharts/?from=IQD&to=USD&view=10Y" target="_blank">http://www.xe.com/currencycharts/?from=IQD&to=USD&view=10Y</a><br />
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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. <br />
<br />
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 <strong>REDUCING</strong> 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. <br />
<br />
<a href="http://dinardouchebags.blogspot.com/2012/08/mop-report.html" target="_blank">http://dinardouchebags.blogspot.com/2012/08/mop-report.html</a><br />
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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.<br />
<br />
<span style="font-family: Verdana; font-size: 9pt;"><strong>In turn, The Guidance For Technical And Economic Feasibility Studies And Post-Project Assessment Of Development Project (<span style="mso-bidi-font-weight: bold;">Regulations No. 1 <span style="color: #990000;">for the Year of 1984</span> and it’s amendment <span style="color: #990000;">for the year of 1990</span>) has specifies a </span>series of steps to be undertaken, which lead to the completion of a Capital Budget.</strong></span><br />
<br />
<a href="http://dinardouchebags.blogspot.com/2012/12/seasons-greetings.html" target="_blank">http://dinardouchebags.blogspot.com/2012/12/seasons-greetings.html</a><br />
<br />
<br />
<br />
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) <br />
<br />
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. <br />
<br />
<br />
<br />
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. <br />
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<strong><span style="font-size: x-large;"><span style="color: #274e13;">H</span><span style="color: #cc0000;">a</span><span style="color: lime;">p</span><span style="color: #660000;">p</span><span style="color: #274e13;">y</span> <span style="color: #990000;">H</span><span style="color: lime;">o</span><span style="color: #0c343d;">li</span>d<span style="color: #990000;">a</span><span style="color: #38761d;">y</span><span style="color: #cc0000;">s</span>!</span></strong></div>
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<br />Unknownnoreply@blogger.com25tag:blogger.com,1999:blog-5596379580203915255.post-38153004572160378632014-11-05T16:31:00.001-08:002016-09-17T01:19:40.374-07:00November UpdateNot much to report this month other than a couple of articles and a really
stupid guru comment. <br /><br />The article that seemed to generate the most
interest was this one.<br /><br /><strong><span style="color: #20124d;">"A few days
ago announced a committee of economy and investment in the Iraqi parliament,
that the deletion of zeros from the Iraqi currency will be working by next year
(2015).<br /><br />It is noteworthy that the subject of the deletion of zeros from
the Iraqi currency is not new, it was the Iraqi government project about
deleting three zeros from the Iraqi dinar, to reduce inflation suffered by the
Iraqi currency, but it has been postponed. He was scheduled to testify in 2011
to delete the three zeros from denominations of Iraqi currency, so that it
becomes the new dinar, equal to 1000 Old dinars.<br />What does that
mean?<br /><br />First, it is necessary to clarify the fact that the abolition of
zeros any currency in the world, does not mean in any way an improvement in the
exchange rate, and this in turn leads to another conclusion is that the deletion
of zeros does not mean as well as any improvement in the Iraqi citizen's income,
it does not mean to address the many </span></strong><span style="color: #20124d; line-height: normal;"><strong>economic problems suffered
by the Iraqi economy. If that is the case, for all the world's governments
scrapped zeros from their currencies. The deletion will not address inflation
and will not contribute to the aggravation, and will enhance the economic
reform, that if there is any economic reform originally.<br /><br />The only goal is
to facilitate the buying and selling processes, and the mitigation of carrying
large quantities of banknotes, and perhaps give a positive psychological boost
for Iraqis, so that they feel, even if only from the door of the feeling, that
the purchasing power of the dinar, has become the best. In any case, we must
clarify here is the fact that the Central Bank of Iraq, the authority is
independent of the government is not entitled to state intervention
work."</strong></span><br /><span style="line-height: normal;"><strong></strong></span><br /><span style="line-height: normal;">The article clearly states that:</span><br />
<br />
<ol>
<li><span style="line-height: normal;">The new dinar will be equal to 1000 old
dinars. That means that it will be valued at $.86. That would be a lop,
folks. </span>
<li><span style="line-height: normal;">The deletion of the zeros doesn't mean in
any way an improvement in the exchange rate or in the Iraqi citizen's income.
That would be a lop too, folks. </span>
<li><span style="line-height: normal;">This isn't being done to fix their
economic problems. If they could fix their economic problems by removing zeros
then every country would do it. While that sounds sooo obvious it's amazing how
many dinarians can't seem to comprehend the fact that you can't revalue your way
into prosperity. </span>
<li><span style="line-height: normal;">The only goal is to facilitate buying and
selling. "Facilitate" means it will be easier, which is what a redenomination
(lop) does. It makes cash transactions and accounting easier. They go on to
say that they hope that this will provide a psychological boost to use a
currency with a higher value, even if there's no true increase in purchasing
power. </span> </li>
</li>
</li>
</li>
</ol>
<span style="line-height: normal;">The article
concludes with a reference to the dinar returning to its glorious past (how many
times have we heard gurus talking about the dinar returning to its glorious past
through a revaluation?), but that this is "false joy, nothing else". In other
words, the redenomination will give the people a good feeling, but it's only a
feeling. There's no true increase. </span><br /><br /><a href="http://translate.google.com/translate?hl=en&sl=ar&u=http://arabic.arabianbusiness.com/politics-economics/2014/oct/27/373512/&prev=/search%3Fq%3D%25D8%25AD%25D8%25B0%25D9%2581%2B%25D8%25A7%25D9%2584%25D8%25A3%25D8%25B5%25D9%2581%25D8%25A7%25D8%25B1%2B%25D8%25A7%25D9%2584%25D8%25AB%25D9%2584%25D8%25A7%25D8%25AB%25D8%25A9%26num%3D100%26safe%3Doff%26sa%3DX%26biw%3D1920%26bih%3D969%26tbs%3Dqdr:d" target="_blank"><span style="font-family: inherit;">Read the article
here.</span></a><br />
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<strong><span style="font-family: inherit;"></span></strong><br /></div>
<span style="font-family: inherit;"></span><br /><span style="font-family: inherit;"></span><br /><span style="font-family: inherit;"></span><br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg1xOa6CsfbwB3qcsrDA0pSB7KG0TYhyphenhyphenid_7hQlwR1ZJJx955QjuSr8XlMQxdXJ7u1N6wOb_nOK82P4chEcyhreL1pXUhbO1KqNlyZEB7p5no2xCuNehhqKyMtXFXUMVBaPgn9JV96Fyow/s1600/frank.JPG" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><span style="font-family: inherit;"><img border="0" height="123" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg1xOa6CsfbwB3qcsrDA0pSB7KG0TYhyphenhyphenid_7hQlwR1ZJJx955QjuSr8XlMQxdXJ7u1N6wOb_nOK82P4chEcyhreL1pXUhbO1KqNlyZEB7p5no2xCuNehhqKyMtXFXUMVBaPgn9JV96Fyow/s1600/frank.JPG" width="71" /></span></a><span style="font-family: inherit;">A November
Douchie is awarded to Frank Villa (Frank26) who stated his opinion that the
algorithm has been released and is making its way around the world. Folks, this
line is almost three years old. </span><a href="http://dinardouchebags.blogspot.com/2011/12/very-merry-douchie.html" target="_blank"><span style="font-family: inherit;">Take a look at this post I did
in December of 2011</span></a><span style="font-family: inherit;">. There's no
algorithm, no activation, and no RV. The IQD is stuck at 1166 to the dollar and
will probably remain there until it is replaced by the new dinar. The
only thing in the system that's making its way around the world is pumper BS.
</span><br /><span style="font-family: inherit;"></span><br /><span style="font-family: inherit;"></span><br /><span style="font-family: inherit;"></span><br /><span style="font-family: inherit;"></span><br /><span style="font-family: inherit;"></span><br /><strong></strong><span style="font-family: inherit;"></span><br /><span style="font-family: inherit;">Another article getting a lot of attention was
</span><a href="http://www.iraqinews.com/features/iraqi-dinars-project-postponed-5-years-says-central-bank/" target="_blank"><span style="font-family: inherit;">this one that says the
initiative to revalue and delete zeros from the Iraqi Dinar will be delayed for
five years</span></a><span style="font-family: inherit;"> because of the
political and security situation in Iraq. Of course there are some who will
point to the word "revalue" and insist that it's not a redenomination or "lop"
that they're talking about but an increase in purchasing power from a
revaluation. But as many of us can attest, you have to go by the description of
the process and not the particular verbage resulting from the translation of
Arabic into English. The process they've been talking about for at least four
years is a typical redenomination that you can read about in any financial or
investment dictionary. You don't delete zeros, issue new currency, and remove
the old currency from circulation in a revaluation. Even if they botch the
translation the description tells you very clearly what they intend to
do.</span><br /><span style="font-family: inherit;"></span><br /><span style="font-family: inherit;"></span><br /><span style="font-family: inherit;"></span><br /><span style="font-family: inherit;"></span><br />
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<tbody><span style="font-family: inherit;"></span>
<tr>
<td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEirjsahPEQnnZ7D1RsAaXy4NeHS8cX-6X8MHZKffsHU-1OWRM1i6jHvZpE0dJaZkjsLMg4wJCclDZljMlRagYOZTC-RtNeYK1Ma0oQ7vXdfkBWRbxMPOMlBPZbbe42vHzhGVV_7SZyuvi0/s1600/Huebner-Teadt-Emmenecker.jpg" imageanchor="1" style="clear: right; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><span style="font-family: inherit;"><img border="0" height="171" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEirjsahPEQnnZ7D1RsAaXy4NeHS8cX-6X8MHZKffsHU-1OWRM1i6jHvZpE0dJaZkjsLMg4wJCclDZljMlRagYOZTC-RtNeYK1Ma0oQ7vXdfkBWRbxMPOMlBPZbbe42vHzhGVV_7SZyuvi0/s1600/Huebner-Teadt-Emmenecker.jpg" width="200" /></span></a></td></tr>
<span style="font-family: inherit;"></span>
<tr>
<td class="tr-caption" style="text-align: center;"><span style="font-family: inherit; font-size: x-small;">Removing Three Zeros - Brad,
Charlie, and</span><br /><span style="font-family: inherit; font-size: x-small;">Michael Teadt do the perp walk
(Sept. 2012)</span></td></tr>
<span style="font-family: inherit;"></span></tbody></table>
<span style="font-family: inherit;">But the good news from October in my opinion was
the sentencing of Brad Huebner and Charlie Emmenecker from the BH Group. Brad
got seven years and Charlie got three for dinar fraud and related charges. It
seems there is at least some justice in this world. Apparently Brad is still in
denial, stating that "one day in the near future the Iraqi government would
revalue its currency and everyone’s investment would pay off". Unbelievable!
Their partner in crime Rudy Coenen received a five year sentence back in
September for his role in the ruse. Now if we can just get the justice
department to follow up with a dozen or so more indictments. </span><br /><span style="font-family: inherit;"></span><br /><a href="http://www.toledoblade.com/Courts/2014/10/31/Local-men-sentenced-in-dinar-case.html" target="_blank"><span style="font-family: inherit;">http://www.toledoblade.com/Courts/2014/10/31/Local-men-sentenced-in-dinar-case.html</span></a><br /><br /><a href="http://www.nbc24.com/news/story.aspx?id=1116530#.VFOaKPnF9WN" target="_blank"><span style="font-family: inherit;">http://www.nbc24.com/news/story.aspx?id=1116530#.VFOaKPnF9WN</span></a> <br /><br /><br /><br /><br /><br /><br />
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Unknownnoreply@blogger.com7tag:blogger.com,1999:blog-5596379580203915255.post-4158038341284571272014-10-14T12:35:00.000-07:002016-09-17T01:19:40.388-07:00October UpdateIt's been a month since I did a post, so I thought I should write something. The truth is there really isn't much to talk about. The "war" against ISIS isn't going well, but even if we could instantly eradicate them it wouldn't bring about any increase in the official value of the IQD. The leadership in Iraq is still trying to figure out who is in charge of what and how they're going to proceed from here. And of course the gurus are still saying "any day now".<br />
<br />
I've been asked to comment on a couple of things. First is this Dave Schmidt guy. I've already given him two Douchebag of the Month awards. The guy is a serious contender for the 2014 Dinar Douchebag of the Year. For anybody who is on the fence about him check out the links below.<br />
<br />
<a href="http://dinardouchebags.blogspot.com/2013/10/october-update.html" target="_blank">http://dinardouchebags.blogspot.com/2013/10/october-update.html</a><br />
<br />
<a href="http://dinardouchebags.blogspot.com/2014/03/douche-of-month.html" target="_blank">http://dinardouchebags.blogspot.com/2014/03/douche-of-month.html</a><br />
<br />
<a href="http://dinardouchebags.blogspot.com/2014/04/another-douchie-for-davey.html" target="_blank">http://dinardouchebags.blogspot.com/2014/04/another-douchie-for-davey.html</a><br />
<br />
<br />
The second thing is the Zimbabwe dollar. Somebody emailed me telling me that the gurus are pumping it again and that it's a scam. NO KIDDING!?!?!?! I know the fact that the ZWD has a ton of zeros excites people at the possibilities of a revaluation, but you have to realize that the currency is valued that low for a reason. NOBODY WANTS IT! Nobody except for gullible speculators, that is. From Wikipedia:<br />
<br />
<i>"Despite attempts to control inflation by legislation, and three redenominations (in 2006, 2008 and 2009), use of the Zimbabwean dollar as an official currency was effectively abandoned on 12 April 2009 due to the skyrocketing inflation."</i><br />
<a href="http://en.wikipedia.org/wiki/Zimbabwean_dollar" target="_blank">http://en.wikipedia.org/wiki/Zimbabwean_dollar</a> <br />
<br />
Just because something has a very low price doesn't mean it's undervalued. Toothpicks are pretty cheap too. Why not stock up on them? Maybe the Central Bank of Toothpicks will raise the value on them and you'll get rich! It makes about as much sense as buying Zimbabwe dollars. As <a href="http://zimbabwedollars.net/" target="_blank">one honest ZWD dealer</a> says "ZIMBABWE CURRENCY IS DEFUNCT AND NOT LEGAL TENDER ANYWHERE.". <br />
<br />
<br />
In closing, I'd like to direct you to a great post. Jay Adkisson from Forbes did an article called "You Can't Fix Stupid - The Iraqi Dinar Scam Lives" a couple of years ago, and every month or so he updates it with his thoughts on the dinar investment. This month he said, among other things:<br />
<br />
<span style="color: #993300;">"Sometimes currencies lose their value to
the point where the mere size of the bills means they have become
impractical. Thus, if you’re having to pay for a pack of smokes with a
Dinar-10,000 bill, things are obviously out-of-whack, and the government
has to re-denominate the currency so that the folks using the currency
don’t lose all confidence in it and start trading in some other
currency. That is what is happening to the Dinar.</span><br />
<br />
<span style="color: #993300;">But re-denomination of a currency does
not, repeat NOT, change its value relative to other currencies. What
actually happens with a redomination is that the government simply
issues new bills, knocking a few zeros off, and then sets a deadline by
which the old bills become worthless unless they are traded in by that
date. So, the local resident might take in their old Dinar-10,000 bills
and exchange them for new Dinar-100 bills."</span><br />
<span style="color: #993300;"></span><br />
<span style="color: #993300;"><a href="http://www.forbes.com/sites/jayadkisson/2012/07/30/you-cant-fix-stupid-the-iraqi-dinar-scam-lives/" target="_blank">http://www.forbes.com/sites/jayadkisson/2012/07/30/you-cant-fix-stupid-the-iraqi-dinar-scam-lives/</a> <span style="color: black;">(Give the page a minute to load, and then scroll down to the bottom right before the comments.)</span></span><br />
<span style="color: #993300;"><span style="color: black;"></span></span><br />
<span style="color: #993300;"><span style="color: black;">Now, lest anybody conclude that Jay talks about the dinar like I do, I assure you it's the other way around. Experts like Jay and John Jagerson are responsible for my epiphany. I learned what I know from them, from a few sharp guys who frequently comment on this blog, and from my own research</span><span style="color: black;">. </span><span style="color: black;">My thanks once again to Jay for his frank analysis of this scam. Until next time.</span></span><br />
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<span style="color: #993300;"><span style="color: black;"> </span></span><br />
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<span style="color: black;"> </span>Unknownnoreply@blogger.com2tag:blogger.com,1999:blog-5596379580203915255.post-52938625006807720782014-09-10T04:20:00.000-07:002016-09-17T01:19:40.399-07:00Three YearsMy how time flies. Three years ago this month I started this blog. In those three years a lot has happened. A few dinar douchebags have been arrested and convicted. Many have been exposed as frauds. Some have disappeared. Others have just tweaked their presentation and kept on going. Many people have caught on and sold their dinar. Some have actually joined me in the cause. And then there's Iraq. Coalition forces left at the end of 2011. Shabibi was removed as the governor of the CBI in October of 2012. President Talibani was disabled by a stroke two months later. Now in 2014 the terrorist organization ISIS has taken over about a third of Iraq, and it appears that the US is heading back into Iraq to some extent. <br />
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Yes, a lot has happened but one thing hasn't happened. The much heralded RV. Oh sure, the dinar's value went from $.0008547 to $.0008576 (or 1170:1 to 1166:1) a couple of years ago but that's not the RV that the gurus were hyping and the hopeful were waiting for. That RV will never happen.<br />
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When I started the blog a lot of people got mad at me for calling gurus "douchebags" and insisting that nobody would get rich by owning dinar. Since then the hatred has waned as people started waking up. Today almost all of the sites are bashing gurus to one extent or another. In fact I hear some of what I've said being repeated in conference calls and posted in forums. <br />
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Since September of 2011 this blog has had 850,000 hits. By my estimate it should hit 1 million next summer if the blog is still up. Considering how little traffic I had the first few weeks that's just amazing to me. A lot of that is due to the word of mouth advertising done by my readers, and for that I am truly grateful. <br />
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I have started another blog and have moved on for the most part, but this experience will always be with me. The one thing I've proven to myself is that one person can make a difference. You should never be afraid to respond when you see an injustice taking place. You should never refuse to try just because the odds are against you. When you hear yourself saying "why doesn't somebody do something about this?" stop and ask yourself if you might be that somebody. And don't ever be intimidated into silence, thinking that you don't know enough to have a valid opinion or to voice those opinions. I have learned more since I started the blog than I did before I started it, but I started with what I knew and proceeded from there.<br />
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I'm certainly not taking all of the credit. John Jagerson was the voice in the wilderness two years before I came along. Others like DaveD and Brian Simpson were debunking guru BS on various forums for years. Marcus Curtis revamped his pro-RV blog and denounced the dinar scam two years ago. Baghdad Invest joined in the fun for awhile, even trapping the gurus with a fake RV story which they later admitted was a hoax to see how many gurus "confirmed" their intel. They've now returned to their true passion which is updating people on the events in Iraq. We wish them well.<br />
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All of us have contributed to the decline in dinar sales and dinar site traffic. All of us have been vindicated over time. All of us have helped to curb the hype and irrational exuberance that was prevalent in the dinar world a few years ago.<br />
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As for the dinar, I'm afraid the future's not too bright. If it survives at all the value is likely to remain below 1/10 of a penny. I still maintain that nobody will get rich from owning the IQD or the VND. You will probably lose money on both. If you haven't figured that out by now I can't help you. <br />
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Thanks again everybody, and best wishes to all! <br />
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Unknownnoreply@blogger.com13tag:blogger.com,1999:blog-5596379580203915255.post-77365034587004247042014-08-10T15:04:00.000-07:002016-09-17T01:19:40.447-07:00In Memory of Chuckles<div id="yiv1790876278yui_3_16_0_1_1405580854371_7305">
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Early on in the life of this blog I conducted interviews with members of the dinar community. My purpose in doing this frankly was to provide content for the search engines (which apparently worked), but it was also to provide examples to the dinar community of people who had stories to tell about how their views on the dinar had evolved since they first invested. One interview that I conducted was with a dinar forum owner known affectionately as Chuckles. </div>
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Chuckles was kicked out of several dinar forums for "being a troublemaker", so he started his own forum where people were free to discuss the dinar from all viewpoints. Nobody was banned for being negative or a "lopper". There were no ads and no paid membership or post-RV programs. He paid the monthly expenses out of his own pocket just because he wanted to provide an environment that was needed. <br />
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For the first few months there wasn't much traffic to his forum, but when a mod revolt occurred at Dinar Vets a couple thousand people found their way over to his Dinar Dater site. ("Dater" was his tongue in cheek reference to the "RV Monday" BS from dinar gurus who are perpetually setting dates and rates, but when the site became well known some of the other forum owners started ignorantly referring to it as a dating site.) The site became a popular location for some well known people in the dinar community, and because of that Chuckles was able to find some of the answers that he had been looking for about this "investment". In time he sold off his dinar and denounced it as a scam. The forum closed down in late 2012.<br />
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Chuckles took his name from his love of comedy and his incredible sense of humour. He loved to make people laugh, and even mentioned his wish to try his hand at doing standup. The photo below is one he provided for me when I posted my interview with him.<br />
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiib8r9vNesE0gNndEKcu4s4WOH2NAdYvQaY81HeaypAOjF1YzQNukymf6gQFjhVStxcPLfXI2eS0lm-_jcHHu9OGFClNsLd9iIWv2NmDq6AuLc1Yrb_3s9hE8ZvZLkAH5gf7UZDDuFVEE/s1600/chuckles+1.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiib8r9vNesE0gNndEKcu4s4WOH2NAdYvQaY81HeaypAOjF1YzQNukymf6gQFjhVStxcPLfXI2eS0lm-_jcHHu9OGFClNsLd9iIWv2NmDq6AuLc1Yrb_3s9hE8ZvZLkAH5gf7UZDDuFVEE/s1600/chuckles+1.jpg" height="269" width="320" /></a>In that interview Chuckles said that he learned about the dinar from his father who was approached by a member of the BH Group. They sold him on the possibility of a huge payout and like many of us who have since learned better he quickly bought a few million, thinking that he didn't have time to do sufficient research. When he told Chuckles about the dinar he also bought a few million "just in case", but he was always trying to figure out just how Iraq was going to pull this off. That set him on a quest for the facts, and that quest eventually led him to this blog. He was then able to direct his father to accurate information and his dad sold off his dinar. Shortly after that his dad's acquaintances in the BH Group were indicted, and he expressed his gratitude to Chuckles for getting him out of this scam.<br />
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Tragically, we lost Chuckles in July to a medical condition that had plagued him for some time. He leaves behind a wife and daughter along with many friends from his days of playing in bands and his years of working in IT. He also leaves behind a thankful dinar crowd whom he welcomed into his forum at no expense to them and with no pressure to conform. He will be missed. <br />
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<a href="http://dinardouchebags.blogspot.com/2012/03/interview-with-chuckles.html" target="_blank">http://dinardouchebags.blogspot.com/2012/03/interview-with-chuckles.html</a><br />
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<a href="http://www.heavensguest.com/chrisearl.html" target="_blank">http://www.heavensguest.com/chrisearl.html</a><br />
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Unknownnoreply@blogger.com2tag:blogger.com,1999:blog-5596379580203915255.post-83387803907647312532014-07-29T23:04:00.001-07:002016-09-17T01:19:40.455-07:00More Bad News for Dinarians<strong><span style="font-size: large;">The Dinar's Dismal Future: Sell Now (Forbes)</span></strong><br />
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It’s not looking good for the Iraqi dinar revaluation.<br />
For those just tuning in, millions of Iraqi dinars have been sold to “investors” hoping to make a windfall when, and if, the currency is revalued in their favor. No one knows how many people have been sold this tale of overnight wealth since the dealers for these notes are not regulated.<br />
<br />As you’ve probably noted from the headlines, Iraq is in bad shape. Sunni insurgents have taken most of the northwestern part of the country; the central government and army are weak, abusive and indecisive; and the Kurds are asserting their virtual autonomy in the Northeast.<br />
<br />Iraq is basically enmeshed in a brutal civil war without any cohesive social fabric to pull it back together. Except for some military advisers, the U.S. and Western powers are staying out of the country. Iraq could very well break apart into three separate regions dominated by Sunnis, Shiites and Kurds. No one is sure what’s going to happen next.<br />
<br />Where does that leave the untold thousands holding dinars who are awaiting their payday? The endgame may be near for this currency, which probably won’t survive if the country breaks up.<br />
Professor Cory Bunting, director of the Capital Markets Center at Virginia Commonwealth University in Richmond, Virginia, is not optimistic. Prof. Bunting has been watching the situation and offered me this blunt advice:<br />
<br />“In my opinion, the dinar will never ‘revalue’ to the rate the pro-dinar pundits lead people to believe. In fact, it remains to be seen if the country of Iraq, as we know it today, will even exist in its present form in 10 years time. Many people who currently hold dinars probably view them as a ‘sunk cost’ or a call option on a dream.<br />
<br />If I held dinar, I would sell them back to a currency dealer. You will likely lose about 20% as the bid price ( to sell to dealers) is far below what the price is to buy from them.<br />
<br />As an investor, I would just take the 20% loss and move on rather than sit on a stack of paper that will likely be worth nothing, or nearly nothing, in ten years time. That said, taking losses is hard for most people and hope springs eternal that wealth is just around the corner.”<br />
<br />What, sell a pile of potentially lucrative lottery tickets? Who in their right mind would want to do that?<br />
<br />The reason it’s so difficult to take a loss in dinar is that 1) they were oversold by currency dealers, 2) people believed the “story” that the dinar would be revalued upward, 3) they didn’t cost much to begin with and 4) losses are felt twice as intensely as gains. No one likes to take a loss and move again, although it’s the rational thing to do.<strong> </strong> <br />
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<br />Although no regulator knows how many investors hold the dinar, Prof. Bunting estimates “that there are around 40 trillion Dinar in circulation and only about 5 trillion actually reside in Iraq so the rest in held by dinar speculators around the world. I guess you could say that the Dinar is Iraq’s largest export product).”<br />
<br />In the interim, heed this advice about currency dealers in general:<br />
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<li>“The Iraqi dinar scheme has been surprisingly long-lived, giving federal and state regulators and nonprofit consumer groups time to issue warnings about the dinar and other foreign currency investment opportunities. Take them seriously</li>
<li>Read the prospectus or offering document. You should receive a written statement that provides all relevant information about the investment and the company selling it, including the company’s history, operations, financial conditions, and key personnel. No prospectus? Don’t invest.</li>
<li>If I buy the investment, then what? Who is going to buy the dinars you have in a drawer in your house? While there are no guarantees in the return of, say, a mutual fund that invests in stocks, you can at least sell it the day after you bought it.”</li>
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Even though I’ve been warning about dinar buying for years, I have no idea what the Iraq Central Bank will do with this currency. It may very well revalue it in the favor of those who hold it. But it has to go through a lot of anguish and bloodshed before that happens.<br />
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<a href="http://www.forbes.com/sites/johnwasik/2014/07/28/the-dinars-dismal-future-sell-now/" target="_blank">http://www.forbes.com/sites/johnwasik/2014/07/28/the-dinars-dismal-future-sell-now/</a><br />
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<strong><span style="font-size: large;">Iraq is already splitting into three states (USA Today)</span></strong><br />
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Ever since U.S. forces invaded Iraq and toppled Saddam Hussein in 2003, the U.S. government has worried that Iraq would splinter into three states — each representing the feuding religious and ethnic factions the dictator held together through his iron rule.<br />
It may no longer be necessary to worry that Iraq will break apart. In many ways, it already has.<br />
The radical Islamic State that seized a swath of western and central Iraq last month effectively left the nation in three pieces, government officials and analysts say.<br />
The United States worries that a fractured Iraq could lead to a failed state, allowing the radical Islamists to establish a stronghold from which they can export terrorism to other parts of the region and world.<br />
Ryan Crocker, who served as U.S. ambassador to Iraq from 2007 to 2009, described the divisions as "Shiastan," "Jihadistan" and Kurdistan. The references are to the majority Shiite Muslims, who run the national government in Baghdad; the insurgent Sunni Muslim jihadists who make up the Islamic State; and the ethnic Kurds, who have long presided over an oil-rich, semiautonomous enclave in the north<br />
"In a sense, it's apocalypse now," Crocker said.<br />
<br />"Iraq is not one Iraq anymore," Fuad Hussein, chief of staff to Kurdistan Regional Government President Massoud Barzani, said at the Washington Institute for Near East Policy during a recent U.S. visit.<br />
<br />The challenge for Washington is determining whether — and how — the country can be pieced back together. The Obama administration says Iraq must stay united if it is to take back the country from the radical Islamists.<br />
<br />Ironically, Joe Biden had argued as a U.S. senator in 2006, when Iraq was in the throes of sectarian violence, that the country be divided into three autonomous regions with a weak central government . His idea never gained traction, and the administration in which he serves as vice president argues the opposite view.<br />
<br />"The strongest single blunt to that threat (division) would be a strong capable federal government in Iraq that is actually able to exert control and influence to push back on that threat," Elissa Slotkin, a top Pentagon official, testified to Congress recently.<br />
<br />Politicians in Baghdad are haggling over formation of a unity government that can fulfill the mission outlined by Slotkin. By custom, the top three jobs are parceled out to the three factions.<br />
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<aside class="single-photo float" itemprop="associatedMedia" itemscope="" itemtype="http://schema.org/ImageObject">Iraqi President Fouad Massoum attends a news conference during the fifth session of the Iraqi Parliament in Baghdad on July 24.<span class="credit">(Photo: Ali Abbas, epa)</span></aside><br /></div>
Last week, Kurdish politician Fouad Massoum was named the new president of Iraq by Parliament. His selection followed lawmakers' election of a Sunni, Salim al-Jabouri, as speaker of Parliament.<br />
Lawmakers have a long way to go before creating a broad government that would lessen tensions among the Kurds, Sunnis and Shiites. Prime Minister Nouri al-Maliki, a Shiite, has been widely criticized within his country and the USA for limiting Sunni participation in his government and empowering Shiite militias that have targeted Sunnis during his eight-year rule. Al-Maliki is fighting to stay in office for a new four-year term.<br />
<br />One key to holding Iraq together is convincing the Kurds, who have long sought an independent state, to remain part of the central government. The Obama administration is trying to convince Kurdish leaders to remain part of Iraq.<br />
<br />"Without the Kurds, you're going to have a struggle with all Sunni Arabs against an Iranian-backed Shiite rump state," said James Jeffrey, a former U.S. ambassador to Iraq.<br />
<br />The Kurds have seized on the offensive by the radical Sunnis to further assert their independence. Kurdish forces have occupied territory abandoned by Iraq's army, attempted to sell oil without Baghdad's approval and announced plans for a referendum on independence.<br />
<br />"Division is the only solution, provided that this division should be consensual," said Barzo Ibrahim, a civil engineer in Irbil, in Kurdistan. "This is the most difficult part of the task."<br />
<br />The Kurds have the best chance of survival should they break away from Iraq's central government. They have created an oasis of political stability in the north, fueled by their own oil reserves and protected by one of the most disciplined fighting forces in the region, the <i>peshmerga</i>.<br />
<br />The Kurds have used the crisis to expand their control over oil-rich Kirkuk in the north by taking over positions from Iraq's army when it retreated in the face of attacks from Islamic militants. It's not clear whether the Kurds will withdraw should the crisis subside.<br />
<br />"They are making the most of the current tactical situation," said Mark Kimmit, a retired Army brigadier general and former State Department official with extensive experience in Iraq.<br />
<br />"They achieved on the ground what they were unable to achieve politically, by moving into positions abandoned by the Iraqi security forces," he said.<br />
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<aside class="wide single-photo" itemprop="associatedMedia" itemscope="" itemtype="http://schema.org/ImageObject">The Kawergosk Refinery in the Kurdish region of northern Iraq.<span class="credit">(Photo: Safin Hamed, AFP/Getty Images)</span></aside><br />
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The Kurdish regional government has begun pumping oil from the Kirkuk field into its own network, so it can sell it independently through its pipeline into Turkey, according to the Iraq Oil Report, which covers the industry. Baghdad considers the move illegal.</div>
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<br />The Kurds have said Iraq's central government hasn't fulfilled its commitment to support the regional government's budget, leaving the government with no choice but to sell its own oil.<br />
<br />Baghdad still has control over the bulk of Iraq's oil wealth. The Kurdish region produces about 220,000 barrels per day, compared with about 2.6 million in the Shiite south.<br />
<br />The Sunnis, whose power center is in western Iraq, have little in the way of resources to fall back on. Their anger against al-Maliki's Shiite-dominated government has driven many to support the Islamic State.<br />
<br />While the government's forces are in disarray, al-Maliki has turned again to Shiite militias to help provide security, further heightening sectarian tensions.<br />
<br />Iraq has long had sectarian clashes and divisions. The Sunni minority held power for centuries until the United States ousted Saddam, a Sunni. Iraq's mostly Sunni Baath Party, which ruled Iraq for decades, ruthlessly suppressed Shiites and Kurds.<br />
<br />Some Iraqis, such as Omar Mohammed, a dentist in Diyala in eastern Iraq, see a splintered Iraq as the only solution after so many episodes of sectarian bloodshed.<br />
<br />"I would accept any solution to stop the bloodshed," he said, "even if it was a confederation or division."<br />
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<a href="http://www.usatoday.com/story/news/world/2014/07/28/iraq-divided-into-three-states/13165519/?utm_source=feedblitz&utm_medium=FeedBlitzRss&utm_campaign=usatoday-newstopstories" target="_blank">http://www.usatoday.com/story/news/world/2014/07/28/iraq-divided-into-three-states/13165519/?utm_source=feedblitz&utm_medium=FeedBlitzRss&utm_campaign=usatoday-newstopstories</a><br />
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Unknownnoreply@blogger.com7tag:blogger.com,1999:blog-5596379580203915255.post-6029286752493589452014-07-22T17:23:00.000-07:002016-09-17T01:19:40.416-07:00Babylon the GreatSince September of 2011 I have been blogging about the dinar "investment", exposing frauds, reporting on pumper lies, and debunking guru rubbish. When I started writing the expectation of a historic windfall to speculators was palpable, and very few seemed willing to jump on board with me, but slowly the sentiments have turned until now I truly believe the trend has reversed itself. People are getting facts rather than hype, and are waking up to reality by the tens of thousands. <br />
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Among the holdouts though, are the innumerable devotees who are convinced that this big RV will happen despite all of the numbers, facts, and documentation that I (or any other guru-buster) provide. The reason is usually this ..... Iraq is the location of the ancient city of Babylon, and they have been told that Babylon must be rebuilt in order for bible prophecy to be fulfilled. In order for that to happen, Iraq needs a valuable currency, so the dinar must revalue. <br />
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<a href="http://www.antipasministries.com/images/jpeg/image048.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="http://www.antipasministries.com/images/jpeg/image048.jpg" height="298" width="400" /></a>With that reasoning in mind, I'd like to approach this subject from a different angle. Why do people believe that Babylon must be rebuilt? The answer in most cases is remakably similar to the situation with the dinar - <strong>GURUS</strong>! You see, the church world is crawling with self-professed experts on bible prophecy who have proven to be wrong time and time again. <br />
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In 1970 Hal Lindsey wrote a book entitled "The Late, Great, Planet Earth" which ignited an incredible interest in bible prophecy by addressing current events and stating that they were somehow linked to bible prophecy. This was the height of the cold war and the nuclear arms race, and people were on edge about the possibility of mutually assured destruction from a nuclear conflict. That book went on to sell 30 million copies, and prompted dozens of imitators who attempted to cash in on the popularity of the topic. <br />
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Unfortunately the book was full of misinterpretations, misconceptions, and just plain bad theology. For example, Lindsey stated that the Soviet Union would be the empire of the antichrist. Well the Soviet Union collapsed a quarter of a century ago. He also stated his belief that Jesus would return by 1988 because in Matthew 24:32 Jesus said <span style="color: #990000;">"<em>Now learn a parable of the fig tree; When his branch is yet tender, and putteth
forth leaves, ye know that summer is nigh: So likewise ye, when ye shall see all
these things, know that it is near, even at the doors. Verily I say unto you,
<strong>This generation shall not pass, till all these things be fulfilled</strong>.</em>" </span><br />
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<span style="color: #990000;"><span style="color: black;">Lindsey claimed that</span> </span>a biblical generation was 40 years and the modern nation of Israel was created in 1948, so he concluded that 1988 was the cutoff date. His subsequent book "Countdown to Armageddon" included his belief that the 1980s would see unprecedented tribulation and international chaos. In fact the global economy did quite well in the 1980s, and the decade ended with the collapse of the Soviet Union. <br />
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I'm not trying to pick on Hal Lindsey here. There are plenty of other bible prophecy teachers who have an equally poor track record, but I don't think anybody was more influential in embedding these misconceptions into the minds of evangelicals. Having said that, Hal Lindsey was never one to take the rebuilding of Babylon to mean modern day Iraq. He always subscribed to the theory that the Babylon of bible prophecy is the revived Roman Empire, which would make the city of Rome the modern Babylon. In fact many bible prophecy teachers have concluded that the prophetic references to Babylon in the New Testament were referring to Rome, and with good reason. Peter referred to Rome as Babylon in his first epistle. <br />
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From Wikipedia:<br />
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<span style="color: #990000;">"In </span><span style="color: #990000;">1 Peter</span><span style="color: #990000;"> 5:13 Babylon is designated as the place from which that Epistle was written, but this has traditionally been interpreted as an example of the figurative sense of "Babylon", as a metaphor for Rome. Peter is believed to have spent the last years of his life in Rome."</span><br />
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<a href="http://en.wikipedia.org/wiki/Babylon_(New_Testament)" target="_blank">http://en.wikipedia.org/wiki/Babylon_(New_Testament)</a><br />
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<a href="http://prophecyproof.blogspot.com/2011/06/my-current-thoughts-on-jerusalem-as.html" target="_blank">Others have taken the view that Babylon is a reference to Jerusalem</a>, and still <a href="https://www.youtube.com/watch?v=DIOxfiG0D4k" target="_blank">others consider it to be a reference to New York City or Wall Street to represent the world's financial system</a>. Some have no concrete view on who Babylon is, but<a href="http://insight2bp.homestead.com/116.html" target="_blank"> they insist that it will not be the literal city of Babylon</a>. Others however, insist that these references to Babylon are to be taken literally. <br />
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As you can see there is no consensus on how to interpret the references to Babylon. But let's just assume for the sake of argument that the references are to be taken literally. Does that mean that this is being fulfilled today with the GOI and the dinar? Couldn't things change drastically? Suppose the recent incursion of ISIS into Iraq is a precursor to a revamping of Iraq and its currency. Or suppose the GOI recovers and fends off the radicals. They could still replace the IQD with a new dinar as they have stated they will on numerous occasions. You see, even a literal interpretation of the references to Babylon doesn't mean that the IQD will go up in value. <br />
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It's a bad idea to invest money based upon the interpretation of bible prophecy by so-called prophecy experts. Just as with the dinar, there are prophecy teachers who are confusing and misleading people for their own gain. <br />
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Recently noted prophecy authors Perry Stone, Sid Roth, and John Hagee were promoting the "Blood Moon" theory on the lunar eclipse. This theory is thoroughly debunked in the video below.<br />
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Perry Stone claims to have studied the bible for 80,000 hours. He's 54 years old, so let's assume that he started studying at the tender age of 10. That's 44 years. If we divide 80,000 hours by 44 years we come up with 1818 hours a year. Divide that by 365 and you get about 5 hours a day every day for 44 years. That include school days, work days, sick days, holidays ... you name it. And that's assuming that he started at 10. Does this sound like a guru exagerration to you?</div>
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<a href="http://www.timesfreepress.com/news/2013/oct/27/visions-of-grandeur-how-one-cleveland-evangelist/" target="_blank">http://www.timesfreepress.com/news/2013/oct/27/visions-of-grandeur-how-one-cleveland-evangelist/</a></div>
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John Hagee is a very controversial figure. Among other things he claims that terrorists will disable the electric grid in the US with an electromagneticpulse bomb. </div>
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<a href="http://www.rightpundits.com/?p=8498" target="_blank">http://www.rightpundits.com/?p=8498</a> </div>
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<a href="http://americanvision.org/9872/camping-dead-long-live-john-hagee/#sthash.7BJJAlkU.dpbs" target="_blank">http://americanvision.org/9872/camping-dead-long-live-john-hagee/#sthash.7BJJAlkU.dpbs</a></div>
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Both of these guys have sold millions of copies of their books that are full of hype, fearmongering, and bad theology. I could name several others who have capitalized (literally) on the popularity of this topic, but suffice it to say that in my opinion 90% of what you hear from bible prophecy "experts" is bunk. </div>
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I've said all along that you should do your own research on the dinar rather than listening to gurus. Well now I will say the same thing regarding bible prophecy teachers. I know that bible prophecy seems confusing at first, but I promise you with a little effort you can start to make sense of it. For that matter all of your spiritual needs are too important to entrust to some spiritual guru. It's okay to learn what you can from bible teachers, but do your own research to see if their teaching stands up. After awhile you'll be amazed at all of the religious BS you've uncovered. </div>
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Unknownnoreply@blogger.com12tag:blogger.com,1999:blog-5596379580203915255.post-70865299466542185462014-07-14T16:43:00.000-07:002016-09-17T01:19:40.436-07:00Guru Updates<div class="paragraph" style="text-align: left;">
<span style="color: black;">Just thought it would be fun to let everybody who is still paying attention to dinar events know what the gurus are saying, now that Iraq is in such dire straits.</span><br />
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<strong><span style="color: #990000;">7-7-2014</span> <span style="color: #c23b3b;">Kaperoni</span></strong> <strong> </strong><span style="color: #990000;">Article: "<em>Political blocs warns of blocking the formation of the government for "a long time" because of the insistence of Maliki confirms: Star is not the most likely candidate</em>" Maliki has set the stage...stating he will not give up the right to a 3rd term which is really saying.."I am not leaving no matter what" unless toes up. <strong>The reality is everyone...nobody wants to admit it, but this is a real bad situation...not only for Iraq but for us as investors...when these types of events happen (terrorists taking over a province) or Maliki (refusing to leave)...the end result is not only an escalation in violence but the destruction of years of hard work rebuilding the infrastructure. The [longer] this continues the more damage is done. And this is a setback. In reality, If Maliki squats, and the violence escalates we could be looking at a year or more to restore what had been accomplished prior.</strong> I wish there was better news..but this is not good news and we all need to be aware and should watch it closely as it is significant to our investment. I am keeping my fingers crossed and hoping for the best!</span></div>
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Some of my readers get mad at me because I don't come down on Kap any more than I do, but this is a good example of why. Although we obviously disagree on the potential of the dinar as an investment, I will at least give honour where honour is due. Kap is one of the very few gurus willing to point out the risk and obvious negative circumstances investors face.</div>
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<span style="color: #990000;"><strong><strong>7-6-2014 Poppy3</strong> IRAQ MEETING ON TUESDAY AROUND NOON WITH A LARGE AGENDA AND I PROMISE YOU THEY WILL NOT GET IT ALL DONE.</strong> WE WILL BE VERY FORTUNATE IF WE SEE THE PRESIDENTS VOTED ON MUCH LESS REMOVING MALIKI . I HOPE I AM VERY WRONG AND THEY ACCOMPLISH ALL THAT IS NEEDED INCLUDING GETTING RID OF HIM.</span><strong><span style="color: #990000;"> IF THEY FINISH ALL THEN THE MOVEMENT WILL BE SWIFT IS WHAT I AM STILL BEING TOLD.</span> </strong></div>
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This guy hasn't been right about anything in the three yeas I've been blogging, but he might get this one right. Nothing in Iraq is ever done in a timely fashion. As for the swift movement, maybe if we send them a shipment of prune juice.<br />
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<span style="color: #990000;"><strong>7-6-2014 wmawhite </strong> <strong>It appears to only support Maliki has is within the SoL...the rest of the NA don't want him, the Sunnis don't want him, the Kurds don't want him</strong>...and he bought a $3 million home for his family within the last 3 weeks in Qatar...maybe he knows.</span></div>
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Funny how nobody wants Maliki but they can't seem to get rid of the guy. People have been saying that Maliki is history for as long as I've known about Maliki, and he's still there. Don't hold your breath waiting for his exit.</div>
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<span style="color: #990000;"><strong>7-6-2014 Tlar </strong> There is a lot of confusion going on now with some articles offering hope then other articles saying there are disputes within the coalition and even more saying they won't be ready. I feel very comfortable that this is the finest snow job I have ever been witness to. <strong>The intention of which is to keep the SOL and Maliki in the dark. IMO they are ready this time just as Allawi stated a couple of days ago. With all the confusion being spread, the SOL has no clue how to react or plan. That's exactly the way it is supposed to be IMO. Keep them guessing and then lower the "boom". Walk in and vote them into oblivion and quickly leave</strong>. We will just have to see on Tuesday whether what have been witnessing in the press is just smoke.</span> <br />
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As I pointed out recently tlar is way out there in lala land. As we now see the press is far more reliable than gurus like tlar.<br />
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<span style="color: #990000;"><strong>7-6-2014</strong> <strong>Hub</strong> ... have three close very close people that know more than we do...real...time business currency business info and they were in on the kuwait rv and they know the talk and talk the walk...<strong>the real information is the dinar has been revalued.</strong> <strong>two major contacts, yes. </strong> ...some of my people are all oil people in iraq, iran, kuwait, saudi, and the other mid east oil people...these people are a special breed...my contact which is a currency broker, made a killing on the revaluation of the kuwait dinar ..... the dinar has had a value for 200 years and will retain the value...in 1955 it was $2.55 and in 1990 it was $3.22. <strong>...the main outlook is the dinar will revalue...it has too to maintain the history...and so we are waiting for it to happen.</strong> i dont know what it will revalue at... </span><br />
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A common flaw in the thinking of dinar investors and gurus is that a currency has a natural value that it gravitates toward, kind of like with gasses such as helium rising above oxygen, or chlorine settling below oxygen. But currencies don't have a "natural" value. They have a value that is determined by the unique history, money supply, and GDP of the country that they represent. China has a huge economy but their currency is valued at around 16 cents, yet smaller countries like Bahrain with a GDP of only about $25 billion have a currency worth about $2.50. Nothing causes depreciation of a currency more than war, and countries like Germany, Japan, Vietnam, and Iraq have currencies that depreciated in value because of war. Germany redenominated to bring their value back, but Japan and Vietnam left their currency valued very low and just went on with life. If Iraq decided to bing their currency's value back to where it was over 30 years ago then they will do it just like Germany did, with a redenomination or "lop". <br />
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<strong><br /><span style="color: #990000;">7-6-2014 Chattel - T<strong>he Kurds had announced in advance their intention to leave after being sworn in if there was no declaration of the PM nominee in advance</strong>...there is a procedural "game" being played out between the SLC and the National Alliance and the anti - Maliki forces are watching it closely. <strong><span style="color: #990000;">BUT, who can know what is "in play", Kurdish independence, oil sales, or does any of this have any effect upon our liquidity event? there is no "RV manual", this is all " unploughed " ground.</span></strong></span><br />
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</strong><span style="color: #990000;"><span style="color: black;">Unploughed [sic] ground? I thought Kuwait RV'd? I thought Germany RV'd? I thought Iraq was going to create millionaires just like those two did? LOL!!! Chattels is right, an RV that creates millionaires has never occurred, and for one simple reason - it doesn't make sense. Why would a country want their currency to go up substantially in value thereby making it more expensive for other countries to do business with them?</span></span><br />
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But all of this was topped off by Breitling's rambling geopolitical history lecture where he claimed that Hitler devalued the deutsche mark, that Donald Rumsfeld said that the US sold Saddam WMD, that the US put Saddam in charge as a buffer against Iran, and that Tulsa brings in more money than LA. A few minutes with Google will reveal that Hitler died three years before the introduction if the deutsche mark, that Donald Rumsfeld never said anything remotely like "we sold WMD to Iraq", that Saddam came up through the ranks of the Baath party in Iraq and was in fact the leader of Iraq before our ally the Shah was deposed in Iran, and that LA's GDP is roughly $750 billion while Tulsa's is roughly $50 billion. (LA's population is roughly 10 times that of Tulsa, so even going by GDP per capita the numbers don't favour Tulsa.) <br />
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What better reminder does one need of the folly of following gurus?<br />
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</span><br />Unknownnoreply@blogger.com16tag:blogger.com,1999:blog-5596379580203915255.post-32249533465278231412014-07-06T20:49:00.000-07:002016-09-17T01:19:40.362-07:00Adam Montana's Take on the Crisis in Iraq<div>
Recently "Adam Montana" sought to console his troubled minions with a word of encouragement about their "investment". Below you will find a few of his comments followed by my commentary in bold.<br />
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Good morning everyone!</div>
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25th of June, 2014 - the situation in Iraq isn't one of peace </div>
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and tranquility just yet, but I get the feeling things are coming </div>
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to a head and it's not turning out that bad. Quite frankly, I feel </div>
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that if things were to take a drastic turn for the worst we would </div>
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<strong>Not turning out that bad? Excuse me??!!? Their second largest city has been taken over by a terrorist group called ISIS that also stole millions from the bank there to further fund their organization. So many Iraqi troops deserted that Maliki had to call on Iraqi citizens to join the fight. Take a look at this map and tell me things aren't that bad. About 1/3 of the country has been overrun by these militants. </strong></div>
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So here's the current scoop. ISIL is holding on and making waves </div>
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still, but it's starting to look like they are stretching themselves </div>
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thin and that's never a good thing for an attacking party. Jordan </div>
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is aligning forces with Iraq, and it makes sense for them to do so </div>
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because if they allow Iraq to fall victim to these attacks, they are </div>
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not too far from suffering the same fate. Other countries (such as </div>
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<strong>I got news for you, pal. Iraq's progress has already been destroyed. Ten years' worth of political progress establishing a democratic presence in the region is virtually dead in the water. Listen to these quotes from Kurdish president Barzani. </strong></div>
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<strong><span style="color: #351c75;">“Iraq is obviously falling apart"</span></strong></div>
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<strong><span style="color: #351c75;">“The time is here for the Kurdistan people to determine their future and the decision of the people is what we are going to uphold.”</span></strong></div>
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<span id="more-8734"></span><strong><span style="color: #351c75;">“Now we are living [in] a new Iraq, which is different completely from the Iraq that we always knew, the Iraq that we lived in ten days or two weeks ago.”</span></strong><br />
<strong><span style="color: #351c75;">“After the recent events in Iraq, it has been proved that the Kurdish people should seize the opportunity now – the Kurdistan people should now determine their future.”</span></strong><br />
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<a href="http://amanpour.blogs.cnn.com/2014/06/23/exclusive-iraqi-kurdish-leader-says-the-time-is-here-for-self-determination/" target="_blank">http://amanpour.blogs.cnn.com/2014/06/23/exclusive-iraqi-kurdish-leader-says-the-time-is-here-for-self-determination/</a><br />
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<strong>These are not the words of a man who thinks that this is just a temporary setback for the new Iraq and the GOI. These are the words of a man who sees that Kurdistan has been a good sport and given the new Iraq a chance, and now sees that it has failed and the time has come for Kurdish independence.</strong> <strong>Have a listen to this discussion on NPR with four experts on the region.</strong><br />
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<a href="http://onpoint.wbur.org/2014/06/23/iraq-regional-responses" target="_blank">http://onpoint.wbur.org/2014/06/23/iraq-regional-responses</a><br />
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You would think that with all this madness and chaos and "OMG the </div>
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sky is falling!" going on over there, the currency would be plummeting </div>
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back to the 4000:1 rate it was at a decade ago… but that's not the case.</div>
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In fact, the stability was only in question for less than a week, when the </div>
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<strong>The IQD was never valued at 4000:1. That was the street value of the old Saddam dinar. The IQD has never been valued at more than about 1500:1</strong><br />
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<a href="http://www.xe.com/currencycharts/?from=USD&to=IQD&view=10Y" target="_blank">http://www.xe.com/currencycharts/?from=USD&to=IQD&view=10Y</a><br />
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Turki / Central Bank states that despite the current events, the dinar is </div>
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<strong>Surely you jest, Wolfy. The IQD would plummet if it were allowed to freely float. A country facing the possibility of secession and war with such deep sectarian division doesn't exactly inspire a lot of international confidence. And the current exchange regime that <a href="http://dinardouchebags.blogspot.com/2013/07/dirty-float.html" target="_blank">the dinar is on is a managed float</a>, which means that they manage it in order to maintain exchange rate stability. How does one profit from a policy like that?</strong></div>
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<strong>Yeah, right! This is all just misinformation from the media who is owned by the cabal. Unfortunately the gullible are likely to lap this up and hold onto their dinar, but thankfully many are wising up and moving on.</strong><br />
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<strong>People like Adam Montana will never come out publicly as negative on the dinar "investment" for one simple reason. They need people to believe in order to keep their revenue stream going. Take if from me, there's not much money in telling people the truth about the dinar.</strong><br />
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Unknownnoreply@blogger.com19tag:blogger.com,1999:blog-5596379580203915255.post-56516327555628721962014-07-02T13:13:00.000-07:002016-09-17T01:19:40.406-07:00Happy 4th of July!The other day I was browsing through dinar sites and caught a glipse of this article. <br />
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<span style="color: #20124d; font-size: large;"><b>Uncomfortable Independence Day Questions</b></span><br />
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<span style="color: #20124d;"><b>Here comes <i>another</i> Fourth of July - a good time to ask some serious questions – and ponder just how “free” we really are: <br /> </b></span><br />
<span style="color: #999999;"><span style="color: #20124d;"><b>* Why is it ok to celebrate <i>violent resistance</i> to a government by our wig-wearing ancestors, but “extremist” to <i>say</i> anything negative about government today?</b></span></span><br />
<span style="color: #999999;"><span style="color: #20124d;"><b>* If people can’t be trusted to govern themselves, how is it that <i>some people</i> can be trusted to govern others?</b></span></span><br />
<span style="color: #999999;"><span style="color: #20124d;"><b>* What’s so great about taxation <i>with</i> representation?</b></span></span><br />
<span style="color: #999999;"><span style="color: #20124d;"><b>* Has anyone ever showed you the “social contract”?</b></span></span><br />
<span style="color: #999999;"><span style="color: #20124d;"><b>* If we’re so “free,” why can’t we even celebrate our “freedom” by lighting off a few firecrackers and bottle rockets in our own backyards? They’re illegal in most states these days for ordinary citizens to even <i>possess</i> – let alone use.</b></span><a class="bbc_url" href="http://ericpetersautos.com/2014/06/30/independence-day-questions/uncle-sam-pic/" rel="nofollow external" title="External link"><span style="color: #999999;"></span></a></span><br />
<span style="color: #999999;"><span style="color: #20124d;"><b>* If the Constitution is the supreme law of the land, why do the “interpretations” of that law by judges supersede the plain language of the Constitution?</b></span></span><br />
<span style="color: #999999;"><span style="color: #20124d;"><b>* Why do civilian cops have <i>military</i> ranks? Sergeants, captains – even four-star “generals” . . . some of them have military flair (AKA “fruit salad”) too … as if they’d “served” in a <i>war</i> somewhere.</b></span></span><br />
<span style="color: #999999;"><span style="color: #20124d;"><b>* If it’s wrong for me (an individual) to do something aggressively violent, how does it become right when a <i>group</i> does the same thing?</b></span></span><br />
<span style="color: #999999;"><span style="color: #20124d;"><b>* Is morality merely a question of numbers and percentages?</b></span></span><br />
<span style="color: #999999;"><span style="color: #20124d;"><b>* Does calling a thing by a different name change the nature of the thing? Does a cat become “not-cat” by dint of <i>calling</i> it “not-cat”? If it’s still a cat – no matter <i>what</i> I call it – how is it that taking someone else’s money (theft) becomes not-theft when it’s called “taxation”?</b></span></span><br />
<span style="color: #999999;"><span style="color: #20124d;"><b>* If abortion is acceptable because it’s “the woman’s body” and thus, “her right to choose<img alt="arrow-10x10.png" class="bbc_img" src="http://cdncache-a.akamaihd.net/items/it/img/arrow-10x10.png" />”- how come a <i>man</i> can’t choose to do what he likes with <i>his</i> body? Like choosing not to wear a helmet while riding his motorcycle, for instance?</b></span><a class="bbc_url" href="http://ericpetersautos.com/2014/06/30/independence-day-questions/police-state-pic-2/" rel="nofollow external" title="External link"><span style="color: #999999;"></span></a></span><br />
<span style="color: #999999;"><span style="color: #20124d;"><b>* How come there are no “senile citizen checkpoints”?</b></span></span><br />
<span style="color: #999999;"><span style="color: #20124d;"><b>* If the “right of the people to keep and bear arms <i>shall not be infringed</i>,” why are the people forced to get the government’s <i>permission</i> to keep and bear arms?</b></span></span><br />
<span style="color: #999999;"><span style="color: #20124d;"><b>* How is it “reasonable” to stop people <i>en masse</i> and at random, and force them to submit to an interrogation/search?</b></span></span><br />
<span style="color: #999999;"><span style="color: #20124d;"><b>* Why are we forced to transact our business with <i>privately owned</i> banks? Why is it illegal for us to exchange value for value among ourselves?</b></span></span><br />
<span style="color: #999999;"><span style="color: #20124d;"><b>* If you have the right to not incriminate yourself, why is it considered a criminal act to decline to fill out a federal tax form?</b></span></span><br />
<span style="color: #999999;"><span style="color: #20124d;"><b>* Did anyone ever ask you for your “consent” to be governed? What if you do <i>not</i> consent?</b></span></span><br />
<span style="color: #999999;"><span style="color: #20124d;"><b>* Why is an <i>officer’s</i>“safety” more important than <i>your</i> safety?</b></span></span><br />
<span style="color: #999999;"><span style="color: #20124d;"><b>* If the “civil” war was fought to free the slaves, how come the commanding general of the Union Army, Ulysses S. Grant, owned a black man while he waged war on the South? (He freed the poor man <i>eventually</i>.)</b></span><a class="bbc_url" href="http://ericpetersautos.com/2014/06/30/independence-day-questions/police-state-2-3/" rel="nofollow external" title="External link"><span style="color: #999999;"></span></a></span><br />
<span style="color: #999999;"><span style="color: #20124d;"><b>* If corporations are “persons,” how come you can never get one on the phone – much less put “him” in prison when he defrauds you?</b></span></span><br />
<span style="color: #999999;"><span style="color: #20124d;"><b>* Why is it ok for big cartels like Monsanto to sell genetically modified foods on their say-so that it’s ok, but a “crime” for a local farmer to sell unpasteurized milk?</b></span></span><br />
<span style="color: #999999;"><span style="color: #20124d;"><b>* If slavery is against the law, why is it we’re compelled to work for the benefit of others?</b></span></span><br />
<span style="color: #999999;"><span style="color: #20124d;"><b>* Shouldn’t everywhere – anywhere – be a “free speech zone”?</b></span></span><br />
<span style="color: #999999;"><span style="color: #20124d;"><b>* If you own your home, why must you pay rent to the government every year in order to be <i>allowed</i> to continue<img alt="arrow-10x10.png" class="bbc_img" src="http://cdncache-a.akamaihd.net/items/it/img/arrow-10x10.png" /> to live there?</b></span></span><br />
<span style="color: #999999;"><span style="color: #20124d;"><b>* How come <i>other people</i> choosing to have sex – and choosing to have kids – imposes a financial obligation on <i>you</i> that’s enforceable at gunpoint, but choosing to adopt a cat and figuring out how you’ll feed him and pay for his bills is entirely your own problem? </b></span></span><br />
<span style="color: #999999;"><span style="color: #20124d;"><b>* Why don’t school busses have to have seat belts?</b></span></span><br />
<span style="color: #999999;"><span style="color: #20124d;"><b>* If guns are so dangerous, how come politicians are surrounded by cordons of heavily armed men?</b></span></span><br />
<span style="color: #999999;"><span style="color: #20124d;"><b>* How did the good ol’ USA become the “homeland”?</b></span><a class="bbc_url" href="http://ericpetersautos.com/2014/06/30/independence-day-questions/dmv-pic/" rel="nofollow external" title="External link"><span style="color: #999999;"></span></a></span><br />
<span style="color: #999999;"><span style="color: #20124d;"><b>* If you believe it’s ok to fight off a mugger, how come it’s not ok to fight off a tax collector?</b></span></span><br />
<span style="color: #999999;"><span style="color: #20124d;"><b>* If only “Congress may declare war,” how come we’ve been “at war” (on “terror”) for going on 13 years without a congressional declaration of war?</b></span></span><br />
<span style="color: #999999;"><span style="color: #20124d;"><b>* Why can’t DMV (or IRS) “customers” say “no thanks” to the services offered?</b></span></span><br />
<span style="color: #999999;"><span style="color: #20124d;"><b>* How can health care be a <i>right</i> if someone else is forced to provide it?</b></span></span><br />
<span style="color: #999999;"><span style="color: #20124d;"><b>* Do you suppose motorcycles would be “allowed” if they were a new invention<img alt="arrow-10x10.png" class="bbc_img" src="http://cdncache-a.akamaihd.net/items/it/img/arrow-10x10.png" />?</b></span></span><br />
<span style="color: #999999;"><span style="color: #20124d;"><b>* If you’re a free man, why must you obtain <i>permission</i> to travel, marry or work?</b></span></span><br />
<span style="color: #999999;"><span style="color: #20124d;"><b>* How is eminent domaining a man off his land any different than simply stealing his land?</b></span></span><br />
<span style="color: #999999;"><span style="color: #20124d;"><b>* Why are we <i>forced</i> to do business with, feed, house – even hang out – with people we’d <i>avoid</i> if we were <i>free</i> to do so? </b></span></span><br />
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<span style="color: #999999;"><span style="color: #20124d;"><b>Answer – hell, even<i> read</i> – these questions and you’ll come to grips with just how unfree we actually are this Farce of July. Better to stay home, wear black and mourn what we’ve lost – what some of us have freely given away – than to go through the sad pantomime of celebrating our enslavement.</b></span></span></div>
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<i><span style="color: #20124d;"><b>Throw it in the Woods?</b></span></i></div>
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This strikes me as talking points from one of those "patriot" groups who think that we're a step away from living in a dictatorship or a police state because there have been restrictions placed on our freedoms. In reality, our freedoms have always had restrictions. </div>
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Nearly a century ago there was a case where a defendant named Charles Schenck claimed the right to freedom of speech in handing out leaflets discouraging people from submitting for the draft during WWI. Justice Oliver Wendell Holmes stated that avoiding the draft was a criminal offense, and that encouraging such a criminal offense during a time of war presented a clear and present danger and could be punished, thereby placing established limitations on freedom of speech. In his opinion he used the example of falsely yelling "fire" in a crowded theater to illustrate how freedom of speech is not absolute. </div>
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People who claim that we're losing our right to freedom of speech overlook the fact that we have more rights today in this area than we did a century ago. Can you imagine somebody today being prosecuted for voicing opposition to the draft?</div>
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People complain about taxes, but the truth is taxes are lower across the board, and the top marginal tax rate today is less than half of what it was during the 70s.<br /></div>
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People complain about their 2nd amendment rights being taken away, but gun ownership is still legal. True, there are restrictions on gun ownership, but there are also restrictions on vehicle ownership and operation. We don't complain about that because we understand the need for public safety provided by those restrictions. Why should it be easier to own and operate a gun than it is to own and operate a vehicle?</div>
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My point is that many of these claims that our rights and freedoms are being taken away are based on perceptions, and not facts. Having said that I'd now like to address a few of the points in the article.</div>
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<li> I don't hear anybody saying that it's extremist to say anything negative about our government. I criticize the government all the time and I've never been called an extremist.</li>
<li>Of course nobody has ever seen the social contract, because it isn't a written contract. It's a concept behind the relationship between the governmental authority and the citizen who gives up a certain amount of freedom in exchange for the services that the government provides. We accept the contract without being conscious of its existence, but if it didn't exist we would certainly notice because we would have anarchy. </li>
<li>Fireworks are deemed illegal in many states because they are dangerous. DUH! Sure, they're fun, but talk to your local fire department about their experiences at New Year's and July 4. Does that mean that we don't live in a free country? Of course not. It means that we're tired of irresponsible people posing a threat to our neighborhoods with fireworks and we've passed laws to protect our property.</li>
<li>The "plain language" of the constitution isn't always so plain. For example, the 8th amendment says that cruel and unusual punishment isn't allowed. Now how do we interpret that? Is capital punishment cruel? Some people think so, and as a result we've tried to make it painless. It's certainly severe, regardless of whether or not you consider it cruel. But what about unusual? It's definitely not unusual, because it has been practiced for thousands of years in virtually every civilization. So does the expression "cruel and unusual punishment" refer to punishment that is <b>either</b> cruel or unusual, or <b>both</b> cruel and unusual? (We have the same dilemma with the wording for impeachment because of "high crimes and misdemeanors") If it refers to "either" then perhaps we should do away with capital punishment, but if it refers to both then we shouldn't necessarily end it because while it might be considered cruel by some people it certainly isn't unusual. Language by its very nature is often vague and subject to interpretation. The founding fathers knew that and that's why they built into our constitution a mechanism to deal with this issue. Another reason we have judges to interpret the constitution is to provide checks and balances within out government. For example, if congress passes a law that is unconstitutional, we have a mechanism in place to address that called judicial review. The courts review the law and determine its constitutionality. And if the court gets it wrong, their ruling can be reversed in the future by another court. Such was the case with capital punishment. For ten years there were no executions in the US, but prior court rulings were reversed and it resumed in 1977.</li>
<li>I don't see the connection between a woman having an abortion and a man wearing a helmet while riding a motorcycle. Abortion is legal because of a Supreme Court ruling (which I don't agree with, by the way) and motorcycle laws are established by states. A better argument in my opinion would be why should a woman have the right to terminate a pregnancy without the father's approval, but if she decides not to terminate the father can't force her to do so and then is required to provide for the child after it's born. To me that is the inequity. Still, how does that support the assertion that we don't live in a free country?</li>
<li>It's okay to fight off a mugger because they're breaking the law and presenting you with the threat of severe bodily harm or death. It's not okay to fight off a tax collector because they're enforcing the law and there is no threat of bodily harm involved. </li>
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Okay, I think that's enough. Basically this is just a good exercise in critical thinking. What sounds good to some paranoid anti-government people when they first read through something like this fails to hold up under closer scrutiny. The US is still a free country. Are there restrictions on those freedoms? Certainly there are, but we can still come and go as we please, and we can still criticize our government and vote to change our leadership if we don't approve of the job that they're doing. For all of its faults the USA is still the greatest country in world history IMO, and hopefully will remain so for many years to come. <br />
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<span style="font-size: large;"><b><span style="background-color: #cccccc;"><span style="color: #cc0000;">Happy</span> <span style="color: white;">Independence</span> <span style="color: blue;">Day!!!</span></span></b></span> </div>
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Unknownnoreply@blogger.com4tag:blogger.com,1999:blog-5596379580203915255.post-39377824346409700032014-06-22T02:06:00.001-07:002016-09-17T01:19:40.380-07:00Tom FooleryA few weeks ago Stryker had a special guest on his broadcast. According to Stryker he's a fellow Texan named Tom Larsen who goes by "tlar" in dinar forums. I would like to address some of the nonsense that I heard in this show, but first I would like to acknowledge all of the wonderful people who have made donations to me to allow this blog to continue busting gurus and exposing this scam.<br />
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The following people have contributed to DDB:<br />
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That's right. No donations.<br />
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Now let's take a look at all of the organizations that have paid DDB over the course of this blog.<br />
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Notice that there are no currency dealers paying me ... no membership dues ... no post-RV program fees .... and no "millionaire" seminar revenues. And the information here has been far more accurate than the information people get on the dinar sites that receive funds from the members. Just something to keep in mind before wandering over to some guru's blog or forum.<br />
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Okay, among other things tlar said that Iraq's budget is based on a rate of 1.16 dinar to the dollar. WRONG! It's based on the current rate of 1,166 dinar to the dollar. Iraqis place a decimal where we place a comma, and every year some guru gets it wrong when they look at the budget numbers. <br />
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tlar also claimed that Bush said the war would pay for itself. I've been waiting for nearly three years for somebody to provide any evidence to back that claim. For the 100th time, Bush never said that. There was no plan to snag trillions of dinar and RV them. It's guru BS.<br />
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<tr><td class="tr-caption" style="text-align: center;">Stryker and tlar</td></tr>
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Then tlar claimed <span style="background-color: white;"><span style="font-family: inherit;">that Iraq has $250 billion to back 2.7 trillion dinar which isn't true, but even if it was it would only mean a possible RV of about a dime, yet<a href="http://www.dinarrecaps.com/1/post/2014/05/tlars-q-a-with-members-after-commentary-part-2.html" target="_blank"> tlar thinks that the new value is going to be more than 86 cents</a>.</span></span><span style="background-color: white;"><span style="font-family: inherit;">He went on to claim that the US Treasury has at least 5 trillion dinar, which I've stated repeatedly is disproved by a federal indictment stating that they only have a nominal amount for daily transactions. They could have left that out of the 80+ counts listed in the indictment, but they were confident enough of that fact to include it. </span></span><br />
<span style="background-color: white;"><span style="font-family: inherit;">Then he said that nobody knows what "<a href="http://dinardouchebags.blogspot.com/2012/06/deleting-zeros.html" target="_blank">delete the zeros</a>" means. The only people who don't know what it means are dinar speculators who refuse to accept what the CBI has clearly stated repeatedly. It means redenomination and it has always meant that, even before the IQD was ever conceived and printed. </span></span><br />
<span style="background-color: white;"><span style="font-family: inherit;"><br />Then the biggest doozie of all, the dinar in bank accounts won't go up in value but the cash will. What economics book did he get that from? Revaluations affect all currency - paper and electronic, not that the CBI has stated that any revaluation is forthcoming.</span></span><br />
<span style="background-color: white;"><span style="font-family: inherit;"> </span></span><br />
A month after this broadcast when the current crisis hit in Iraq, Tom said that Maliki would be gone within 48 hours. Wrong again. He followed up that Tom Foolery with this gem:<br />
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<span style="color: purple;">"Here it is guys. You can believe or not believe at you own discretion. <b>This my friends is a CIA operation pure and simple</b> the purpose of which is to remove Maliki under the guise that terrorists are over running the country. I know some will say I sound like a quack and some will judge me as such. I don’t care anymore.<br /><br />Recently the CIA set up an operation that a refinery was supposed to be taken over by ISIS. This was to be a shock to the economic system bringing everyone to the conclusion that this was an attack on western interests requiring western involvement. The refinery was left intentionally undefended and open to invasion by insurgents..<br /><br />The news originally reported the refinery was taken over by the ISIS. As it turned out an Iraqi officer noticed that the refinery was not well protected so he moved in and brought his forces with him. They repelled the attack by the ISIS and they killed approximately 40-50 ISIS terrorists. The news recanted and said the refinery was back in control of government forces. This CIA plot was foiled.<br /><br />Three of Malikii generals ordered their troops to lay down their arms and abandon there assignments. All three of these generals have asked for asylum in the US. Had they not done this there might have been a lot of blood shed instead of cities being lost without a shot being fired. What and why did they abandon?<br /><br />The Kurdish disputed territories and the Sunni enclave cities were given up without a fight. The net result, the map of Iraq has been redrawn<u>. Things that would have never been done through negotiation with Maliki’s government are now corrected. Sunni’s are once again in control of Sunni areas as is the Kurds once again in control of Kurdish towns.</u><br /><br />Maliki hasn’t got a clue as to why his army has collapsed without fighting. He is like a chicken with his head cut off running around threatening court martial and executions. The CIA is working their magic. Maliki won’t leave so there is more heat being tuned up.<br /><br />So what’s next?<br /><br /> Next week the new government will be formed. Pressure is being put on the coalition. GET ER DONE. As far as I have been told, it is imperative that once the government has been announced we will see two things.<br /><br />The first is world support for the new government in fighting terrorism.<br /><br />The second is an RV.</span></div>
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<span style="color: purple;">For some reason it seems to be extremely important to those in control that Turki pull the trigger on or a little before July 1st.<br /><br />So that’s what I know. Please by all means, judge me on this as you will. I am prepared to be full of Shiite before this is over. Watch this as it unfolds." ~ Tlar</span></div>
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So according to tlar, the Central Intelligence Agency of the United States is behind the beheadings, mass graves, and barbarian behaviour of ISIS inside of Iraq in an effort to oust Maliki from power. (While there's no confirmation of the mass graves within Iraq, <a href="http://www.cnn.com/2014/02/17/world/meast/syria-isis-addana/" target="_blank">you can read about similar acts in Syria here</a>.) I don't think any comment is really necessary. <br />
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<span style="background-color: white;"><span style="font-family: inherit;">Tom comes across as a decent guy who isn't a scammer, and perhaps that's the most dangerous kind of guru because people who might not follow the blatant scammers might be more inclined to listen to a guy who speaks with such certainty about things that they don't understand. But he doesn't understand either, and therein lies the problem.</span></span><br />
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<span style="background-color: white;"><span style="font-family: inherit;">There was a time when I listened to gurus like tlar folks, because I was impressed and perhaps intimidated by all the jargon and the overwhelming amount of information that they prattled off. But when I noticed that they never got anything right I set out to educate myself, and I soon discovered that it's not that complicated. If I can do it you can do it. Quit listening to the likes of Stryker, tlar, Breitling, Frank26, Adam Montana, ... etc. and do your own due diligence. It's your money. Don't entrust it to hack gurus that you don't even know. </span></span><br />
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<br />Unknownnoreply@blogger.com39tag:blogger.com,1999:blog-5596379580203915255.post-87545883154825467892014-06-16T09:56:00.000-07:002016-09-17T01:19:40.459-07:00A Few Thoughts on the SituationSoooo ..... did we RV yet? All kidding aside, the current situation in Iraq is an unmitigated disaster. Let's just forget about the dinar for a moment and think about the ramifications. Turkey to the north is concerned because dozens of Turkish diplomats have been taken hostage by ISIS. Shia-controlled Iran to the east is offering military assistance to fight off the invasion. Syria to the west is also concerned, since a Sunni-led revolution next door in Iraq could pose an ongoing threat to their government which is seen as Shia-supported. When their government faced resistance from ISIS they found Russia among their supporters so we could assume that Russia would support the Iraqi government in this conflict as China already has. Saudi Arabia to the south is mainly Sunni, and some of the funding for ISIS came from there. The Saudis have offered resistance to the Shia influence in the region and will no doubt be watching for any signs of renewed uprisings in their area. Allowing an anti-western entity like ISIS to gain a foothold in the region is a huge mistake, and sooner or later it's one that is going to draw US military involvement again. But it's hard to isolate this one foreign policy screwup, because it stems from a long line of miscues going back decades. <br />
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<tr><td style="text-align: center;"><a href="http://upload.wikimedia.org/wikipedia/commons/4/4e/Shah_of_iran.png" imageanchor="1" style="clear: left; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" src="http://upload.wikimedia.org/wikipedia/commons/4/4e/Shah_of_iran.png" height="200" width="133" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Shah of Iran</td></tr>
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<tr><td style="text-align: center;"><a href="http://upload.wikimedia.org/wikipedia/commons/9/9d/Khomeini_portrait.jpg" imageanchor="1" style="clear: right; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" src="http://upload.wikimedia.org/wikipedia/commons/9/9d/Khomeini_portrait.jpg" height="200" width="131" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Ayatollah Khomenei</td></tr>
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In 1978 there was an Islamic uprising inside of Iran. At the time Iran's leader was the Shah, a US ally who followed his father into power in 1941. In 1951 he was forced from power and fled Iran after a failed coup attempt. He was restored to power two years later in a CIA funded and orchestrated coup under Eisenhower. In 1979 he faced another political threat as cries came to "oust the fascist Shah", largely coming from forces loyal to Ayatollah Khomenei, an exiled Muslim cleric. When he came to the US for medical treatment radicals in Iran stormed the US embassy and took State Department employees hostage for over a year. President Carter had the option at the time of authorizing a CIA covert operation similar to what Eisenhower had done in 1953 which could have kept a US ally in power, but he refused. He naively thought that American interests would be better served by non-interference. As a result the Shah was deposed in 1979 and Iran became an anti-American theocracy under Khomenei.<br />
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This led to an Islamic fundamentalist movement that spread throughout the Muslim world. Prior to the deposition of the Shah the Arab world was becoming westernized. Young Arab boys listened to the Beatles and watched American movies. Young Arab girls wore blue jeans and makeup. That all changed after the Ayatollah came to power. <br />
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In the photo above you can see Osama bin Laden (from Saudi Arabia) wearing bell bottoms during a ski trip to Europe around 1971. This was very typical of younger Arabs in that day. It's quite a contrast from the way that younger Saudis and Iranians dress today. Had we been willing to stand by the Shah it's likely that this would be the norm now instead of the fundamentalist code that is currently being imposed, and it would be much more difficult to radicalize them.<br />
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As Iran's radical government became more powerful they posed a threat to the reign of Saddam Hussein next door in Iraq. Saddam's government was secular, as opposed to Iran's theocracy. Religious elements in Iran were trying to inspire their fellow Shias in Iraq to overthrow Saddam. A war ensued, and the US armed Saddam in order to limit Iran's power in the region. But while Saddam was seen as an ally at the time, he eventually became more of a threat as he pursued WMD and nukes and eventually invaded his neighbors in Kuwait and had troops amassed along the border with Saudi Arabia prior to Desert Storm.<br />
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<tr><td class="tr-caption" style="text-align: center;">Beirut barracks bombing</td></tr>
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During the Reagan administration in 1983 terrorists blew up buildings being used as barracks by US and French forces in Beirut, Lebanon. Nearly 300 US and French soldiers died in that attack. Reagan's focus was on winning the cold war against the Soviet Union, and he didn't seem to know how to prevent or respond to the threat from religious radicals. His successor George H. W. Bush didn't seem to fare any better as Al Queda emerged following Desert Storm in response to US military presence in Saudi Arabia.<br />
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<tr><td class="tr-caption" style="text-align: center;">Kenyan embassy bombing</td></tr>
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Under Clinton US embassies in Kenya and Tanzania were bombed by Al Queda in 1998. Clinton's response was minimal, launching a missile attack against a pharmaceutical facility in Sudan that was never conclusively linked to Al Queda . He seemed more focused on fighting Serbian leader Slobodan Milošević (who posed no threat to US national security) than Bin Laden, and when Saddam Hussein refused access to UNSCOM inspectors in 1998 Clinton passed up an opportunity to go to the UN and put a coalition together to deal with the situation as his predeccesor had, and again resorted to dropping a few bombs. This was the best time to act on this as the international community had the will at that time to hold Saddam accountable because of his defiance of UNSCOM. Instead, the US drifted into a policy of containment, the same policy more or less that was pursued with Al Queda.<br />
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<tr><td style="text-align: center;"><a href="http://www.independent.co.uk/migration_catalog/article5319074.ece/alternates/w620/26-Bush.jpeg" imageanchor="1" style="clear: left; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" src="http://www.independent.co.uk/migration_catalog/article5319074.ece/alternates/w620/26-Bush.jpeg" height="218" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Bush being informed of the attack on 9/11</td></tr>
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When George W. Bush took office in 2001 there was an excellent opportunity to abandon the containment policy with both Saddam and Bin Laden, but Bush's focus during the campaign and during the first months of his presidency was on education. He wanted to be known as "the edcuation president", and in fact was sitting in a classroom on 9/11 promoting his education program when the attacks occurred. It wasn't until after the attacks that his focus shifted toward national security and the war on terror. He responded to 9/11 by invading Afghanistan to attack Al Queda and remove the Taliban who were harboring them. He then proceeded to pursue a second war in Iraq to remove Saddam Hussein and install a democratic government which would be friendlier toward the US and its allies, but that spread US forces too thin and stalled the progress in Afghanistan. The Iraq war itself went well, but the post-war phase was a disaster. What was expected to take less than half a year ended up taking eight years and cost over 4,000 troops and upwards of $1 trillion, and killed countless Iraqi citizens as a war of insurgency dragged on, a war that seemed to catch the Bush administration completely off guard. Saddam was a Sunni Muslim and a Bathist, so as a result Sunnis and Bathists were alienated by how the Coalition Provisional Authority set up the new government and military. That alienation continued into the Obama administtion.<br />
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Which brings us to today. The rapid advancement of ISIS into Iraq seems to have caught Obama sleeping, and he is just now talking with advisors about how to respond where he should have been on top of things weeks or even months ago with a plan in place to prevent the current crisis. Since coalition forces pulled out of Iraq at the end of 2011 Sunnis have been marginalized by the government of Maliki, who is a Shia. The advancements that have been made by ISIS in Iraq were due more to the lack of support for the Iraqi government by Sunnis than by the prowess of ISIS' forces. There were many reports of military leaders instructing their men to abandon their posts. Loyal forces don't do that. As a result it would appear that Iraq is headed for a full blown civil war. <br />
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What is the solution? I could be wrong, but at this point I think it's too late to bring the country back together under the current government. Even if Maliki doesn't win a third term the die is cast. Either the UN oversees a breakup into three seperate countries for the Sunnis, Kurds, and Shias, or a civil war follows that could draw in Iran, Saudi Arabia, and God knows who else. The time to prevent the current dilemma has come and gone, and both Republican and Democrat presidents share the blame. For the sake of the Iraqi people and the international community, I hope our leaders can handle the situation today better than they have in the past.<br />
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Unknownnoreply@blogger.com23tag:blogger.com,1999:blog-5596379580203915255.post-65010476826825603672014-06-12T03:39:00.000-07:002016-09-17T01:19:40.425-07:00Crisis in Iraq<div class="separator" style="clear: both; text-align: center;">
<a href="http://i.dailymail.co.uk/i/pix/2014/06/11/article-2654861-1EAAC59200000578-423_964x539.jpg" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" src="http://i.dailymail.co.uk/i/pix/2014/06/11/article-2654861-1EAAC59200000578-423_964x539.jpg" height="222" width="400" /></a></div>
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. <br />
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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. <br />
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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.<br />
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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.<br />
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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.<br />
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<span style="color: #20124d;"><strong>"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."</strong></span> <br />
<br />
<a href="http://dinardouchebags.blogspot.com/2011/09/rv-reality-check.html" target="_blank">http://dinardouchebags.blogspot.com/2011/09/rv-reality-check.html</a><br />
<br />
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.<br />
<br />
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.<br />
<br />
<a href="http://www.ibtimes.co.uk/mosul-seized-jihadis-loot-429m-citys-central-bank-make-isis-worlds-richest-terror-force-1452190" target="_blank">http://www.ibtimes.co.uk/mosul-seized-jihadis-loot-429m-citys-central-bank-make-isis-worlds-richest-terror-force-1452190</a><br />
<br />
<a href="http://www.dailymail.co.uk/news/article-2654861/Escape-Mosul-150-000-Iraqis-overnight-refugees-flee-terror-al-Qaeda-splinter-group-taken-countrys-second-biggest-city.html" target="_blank">http://www.dailymail.co.uk/news/article-2654861/Escape-Mosul-150-000-Iraqis-overnight-refugees-flee-terror-al-Qaeda-splinter-group-taken-countrys-second-biggest-city.html</a><br />
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<br />Unknownnoreply@blogger.com11tag:blogger.com,1999:blog-5596379580203915255.post-80841735479857473252014-05-25T19:49:00.002-07:002016-09-17T01:19:40.451-07:00Dinar Movie - "The Bond"<div class="separator" style="clear: both; text-align: center;">
<b><span style="color: #20124d; font-size: x-large;">The Bond</span></b></div>
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Somebody sent me the link to this movie the other day, and I think it's great. It really reveals the human drama beyond the dinar "investment". Does the Money Maven remind you of anybody?</div>
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<a href="http://goldenboydigital.com/featured-work/2013/12/18/the-bond" target="_blank">http://goldenboydigital.com/featured-work/2013/12/18/the-bond</a></div>
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Unknownnoreply@blogger.com13tag:blogger.com,1999:blog-5596379580203915255.post-60617014997856605202014-05-21T10:45:00.000-07:002016-09-17T01:19:40.422-07:00The Verdict <div class="separator" style="clear: both; text-align: center;">
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<a class="colorbox cboxElement" href="http://www.toledoblade.com/image/2014/05/06/800x_b1_cCM_z/n4huebner-5.jpg" rel="storyimage2" title="Bradford Huebner ">Enlarge</a>
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Two of three Toledo area businessmen charged in a scheme to defraud
investors in Iraqi currency and two nonexistent hedge funds were found
guilty by a jury in U.S. District Court today, while the third defendant
was convicted only of an unrelated mail fraud charge.<br />
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<a class="colorbox cboxElement" href="http://www.toledoblade.com/image/2014/05/06/800x_b1_cCM_z/n4emmenecker-3.jpg" rel="storyimage" title="Charles Emmenecker ">
<img align="left" alt="Charles Emmenecker" border="0" oncontextmenu="return false" src="http://www.toledoblade.com/image/2014/05/06/150x_b1_a3-4_cCM_z/n4emmenecker-3.jpg" title="n4emmenecker-3.jpg" />
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Charles Emmenecker<br />
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<a class="colorbox cboxElement" href="http://www.toledoblade.com/image/2014/05/06/800x_b1_cCM_z/n4emmenecker-3.jpg" rel="storyimage2" title="Charles Emmenecker ">Enlarge</a>
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Bradford Huebner, 66, of Ottawa Hills and Charles Emmenecker, 67, of
Sylvania each were convicted of conspiracy to commit wire fraud and wire
fraud. Michael Teadt, 67, of Maumee was acquitted on those counts and
on three counts of structuring transactions to evade reporting
requirements and one count of making a false statement to an Internal
Revenue Service agent.<br />
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<a class="colorbox cboxElement" href="http://www.toledoblade.com/image/2014/05/06/800x_b1_cCM_z/n4teadt-6.jpg" rel="storyimage" title="Michael Lee Teadt ">
<img align="left" alt="Michael Lee Teadt" border="0" oncontextmenu="return false" src="http://www.toledoblade.com/image/2014/05/06/150x_b1_a3-4_cCM_z/n4teadt-6.jpg" title="n4teadt-6.jpg" />
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Michael Lee Teadt<br />
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<a class="colorbox cboxElement" href="http://www.toledoblade.com/image/2014/05/06/800x_b1_cCM_z/n4teadt-6.jpg" rel="storyimage2" title="Michael Lee Teadt ">Enlarge</a>
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Huebner, the founder of BH Group, which sold the currency known as
dinar, also was convicted on 30 counts of structuring, nine counts of
money laundering, and one count of mail fraud.<br />
“The IRS put together a great case. They worked very hard on it,”
Gene Crawford, an assistant U.S. Attorney and lead counsel on the case,
said afterward. “…We’re gratified with what the jury did.”<br />
The verdicts were read at 10 a.m. after the jury of six men and six women had deliberated for more than 17 hours over four days.<br />
During the men’s two-week trial, federal prosecutors said the trio
had collected millions of dollars from investors by feeding them lies
and half-truths about the get-rich-quick scheme that never materialized.
Huebner, Teadt, and Emmencker each took the witness stand, testifying
that they purchased dinars and seats in the hedge funds for themselves
with the full belief that one day the Iraqi government would revalue its
currency, making them quite wealthy.<br />
Huebner argued that he was engaged in a legal business, while
Emmenecker and Teadt claimed they had no direct connection to the BH
Group and never profited from the sale of dinar or the hedge fund
placements.<br />
Sentencing is expected to be held in the fall.<br />
<br /><span>Read more at <a href="http://www.toledoblade.com/Courts/2014/05/22/Two-convicted-in-Iraqi-currency-scam-third-acquitted.html#5xIhf2HK13KDrxWH.99" style="color: #003399;">http://www.toledoblade.com/Courts/2014/05/22/Two-convicted-in-Iraqi-currency-scam-third-acquitted.html#5xIhf2HK13KDrxWH.99</a></span></div>
<table cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: left;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEirjsahPEQnnZ7D1RsAaXy4NeHS8cX-6X8MHZKffsHU-1OWRM1i6jHvZpE0dJaZkjsLMg4wJCclDZljMlRagYOZTC-RtNeYK1Ma0oQ7vXdfkBWRbxMPOMlBPZbbe42vHzhGVV_7SZyuvi0/s1600/Huebner-Teadt-Emmenecker.jpg" imageanchor="1" style="clear: left; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEirjsahPEQnnZ7D1RsAaXy4NeHS8cX-6X8MHZKffsHU-1OWRM1i6jHvZpE0dJaZkjsLMg4wJCclDZljMlRagYOZTC-RtNeYK1Ma0oQ7vXdfkBWRbxMPOMlBPZbbe42vHzhGVV_7SZyuvi0/s1600/Huebner-Teadt-Emmenecker.jpg" height="172" width="200" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Removing Three Zeros - Brad Huebner, <br />
Charlie Emmenecker, and Michael Teadt <br />
do the perp walk.</td></tr>
</tbody></table>
Two of three Toledo area businessmen charged in a scheme to defraud investors in Iraqi currency and two nonexistent hedge funds were found guilty by a jury in U.S. District Court today, while the third defendant was convicted only of an unrelated mail fraud charge.<br />
<table cellpadding="0" cellspacing="0" class="tr-caption-container" style="clear: right; float: right; margin-bottom: 1em; text-align: right;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiiPJjUft6dISXF-0-CijbuOdJEcDkvdVXU4QiLFezBZIp_2tE0KrggxGFOXisg45-lY3B9kmJz43yfdDLSwmOq6G5GvIUObxDVoZ8-25zestanmLmF-MBTUf3ARjfa2YOXMQk2L3ogKbk/s1600/Brad+mug+shot.jpg" imageanchor="1" style="clear: right; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiiPJjUft6dISXF-0-CijbuOdJEcDkvdVXU4QiLFezBZIp_2tE0KrggxGFOXisg45-lY3B9kmJz43yfdDLSwmOq6G5GvIUObxDVoZ8-25zestanmLmF-MBTUf3ARjfa2YOXMQk2L3ogKbk/s1600/Brad+mug+shot.jpg" height="200" width="133" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Brad Huebner</td></tr>
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Bradford Huebner, 66, of Ottawa Hills and Charles Emmenecker, 67, of Sylvania each were convicted of conspiracy to commit wire fraud and wire fraud. Michael Teadt, 67, of Maumee was acquitted on those counts and on three counts of structuring transactions to evade reporting requirements and one count of making a false statement to an Internal Revenue Service agent.<br />
<br />
Huebner, the founder of BH Group, which sold the currency known as dinar, also was convicted on 30 counts of structuring, nine counts of money laundering, and one count of mail fraud.<br />
<br />
<table cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: left; text-align: right;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjF_gK8ylJ4BGnNhZhFcFedsS0jO2FwRawEs5kh8a0D2jGa17ZvMuoIj33H6yt8igBQu18d9HSL_ok97OF-PsARsfuaVn9ybVE28nLAnw8G7M5JEKYIRMec2z4XomJFo1Rq7rwQ93a03bQ/s1600/charlie+mug+shot.jpg" imageanchor="1" style="clear: right; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjF_gK8ylJ4BGnNhZhFcFedsS0jO2FwRawEs5kh8a0D2jGa17ZvMuoIj33H6yt8igBQu18d9HSL_ok97OF-PsARsfuaVn9ybVE28nLAnw8G7M5JEKYIRMec2z4XomJFo1Rq7rwQ93a03bQ/s1600/charlie+mug+shot.jpg" height="200" width="132" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Charlie Emmenecker</td></tr>
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“The IRS put together a great case. They worked very hard on it,” Gene Crawford, an assistant U.S. Attorney and lead counsel on the case, said afterward. “…We’re gratified with what the jury did.”<br />
The verdicts were read at 10 a.m. after the jury of six men and six women had deliberated for more than 17 hours over four days.<br />
<br />
<table cellpadding="0" cellspacing="0" class="tr-caption-container" style="clear: right; float: right; margin-bottom: 1em; text-align: right;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi0UGR9sHFSP5NQQPZ4gRv-mLkYZPZTJe1ACJPo6B_Abf3LLyzSsh_oy0VFSG1H-NdQ341i9ZsC6EyfSdl4RU5UScb32tu5RvkAZZiWpLEK7PoqdojPiq2ZbiSc0loGIJ8_faWRrkaZJLQ/s1600/michael+teadt+mug+shot.jpg" imageanchor="1" style="clear: right; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi0UGR9sHFSP5NQQPZ4gRv-mLkYZPZTJe1ACJPo6B_Abf3LLyzSsh_oy0VFSG1H-NdQ341i9ZsC6EyfSdl4RU5UScb32tu5RvkAZZiWpLEK7PoqdojPiq2ZbiSc0loGIJ8_faWRrkaZJLQ/s1600/michael+teadt+mug+shot.jpg" height="200" width="130" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Michael Teadt</td></tr>
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During the men’s two-week trial, federal prosecutors said the trio had collected millions of dollars from investors by feeding them lies and half-truths about the get-rich-quick scheme that never materialized. Huebner, Teadt, and Emmencker each took the witness stand, testifying that they purchased dinars and seats in the hedge funds for themselves with the full belief that one day the Iraqi government would revalue its currency, making them quite wealthy.<br />
<br />
Huebner argued that he was engaged in a legal business, while Emmenecker and Teadt claimed they had no direct connection to the BH Group and never profited from the sale of dinar or the hedge fund placements.<br />
<br />
Sentencing is expected to be held in the fall.<br />
<br />
<a href="http://www.toledoblade.com/Courts/2014/05/22/Two-convicted-in-Iraqi-currency-scam-third-acquitted.html" target="_blank">http://www.toledoblade.com/Courts/2014/05/22/Two-convicted-in-Iraqi-currency-scam-third-acquitted.html</a><br />
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Unknownnoreply@blogger.com13tag:blogger.com,1999:blog-5596379580203915255.post-9221422248423387802014-05-13T23:24:00.000-07:002016-09-17T01:19:40.474-07:00A Few Questions for John JagersonAddressing guru BS is like playing "Whack-a-Mole". You knock one lie down and another one pops up. You whack it and another one pops up. You start after it and the first one pops up again. It never ends. It's also like eradicating a mutating virus. It starts off as "The RV" and then it mutates into "The Global Currency Reset (GCR)", and then it becomes "Private Exchanges with Non-disclosure Agreements (NDA)". Most of the time I can respond adequately, but there have been times when I either felt unsure of how to respond or unqualified to offer a valid response. When that happens I turn to my online buddy and currency/investment expert John Jagerson for help.<br />
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<tr><td class="tr-caption" style="text-align: center;">John Jagerson</td></tr>
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When I first heard about the dinar investment I thought it might be a scam, so I looked around on the internet for information. Among other things I found a couple of videos by John explaining why it's a scam. Unfortunately I didn't completely grasp what he was saying at the time and got drawn in by the hype and ended up buying millions of dinar "just in case". Well of course nothing happened and I eventually did my own research and came to the conclusion that everything John said was right. After I started the blog John started reading it some and left a comment following a post that I wrote. That led to an interview and a follow-up interview a couple of years ago. Well over the past two years a few other things have crept into the guru talking points that I felt needed to be addressed, so I asked John if we could do another little Q&A session and he agreed. (As one might expect from somebody who works in this field, John uses terminology that most of us aren't familiar with, so I've taken the liberty of providing links and editor notes for clarity.) The results are below.<br />
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<b>Sam:</b> With a pegged currency like the IQD, are the foreign currency reserves backing the cash outside of banks, the M1, or the M2?<br />
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<b><span style="color: #990000;">John:</span></b> FX reserves aren’t really backing either. A pegged currency just means that the central bank stands ready to buy or sell their own currency and the <a href="http://www.investopedia.com/terms/b/benchmark.asp" target="_blank">benchmark currency</a> to maintain a target rate in the currency market. M1 and M2 are measures of money supply but they aren’t the exchange rate. It is possible that expansions in money supply could lower the exchange rate, which the central bank might want to do by buying bonds or lowering reserve requirements if they needed to lower the value of the domestic currency versus the benchmark. Or they could contract the money supply by increasing reserve requirements, or raise rates by selling bonds in order to raise the value of their currency. However, its really important to remember that a peg isn’t just something you set and then forget about. You can’t have a peg if you don’t manage the peg. Its not an automatic thing. A peg can be broken so they have to be pretty active about their management. The central bank basically has to stand ready to honor that pegged exchange rate for financial institutions. They can’t do that if they aren’t managing their money supply very carefully.<br />
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<b>Sam:</b> Okay, the CBI website lists the cash outside of banks at about 35 trillion, the M1 says 72 trillion, and the M2 says 85 trillion. So when you say "their own currency" is there any way of determining which figure they would go by?<br />
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<b><span style="color: #990000;">John:</span></b> Those are just progressively more comprehensive measures of money supply. So when they set an exchange rate it doesn’t have anything to do with the different measures of money supply. Any of these kinds of supply could be manipulated to maintain the peg. M2 is the most comprehensive measure of money supply because M1 and M0 are included in M2.<br />
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<b>Sam:</b> How reliable are the figures on the CBI website or any other central bank's website?<br />
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<span style="color: #990000;"><b>John:</b></span> I believe no one knows for sure outside the CBI but I don’t think it is unreasonable to assume that there are at least some material, unintentional errors. Most central banks are subject to very little audit oversight so it is possible that the numbers aren’t accurate. Auditors aren’t fraud detectives so its also reasonable to assume that if they were faking something that the auditors may not catch it. In developed economies, it would be very difficult to fake the numbers in a big way because it would show up in the market. For example, this is what happened in the 1970’s in the U.S. when they hid the war spending and it ended the gold standard. The market ‘knew’ what was really going on. However, in the case of the CBI, I doubt the “market” would know if there were problems right away. It would probably come out eventually but it may take a while to really be discovered. I would not be surprised to find out that the numbers are inaccurate but are they intentionally inaccurate? I have no idea.<br />
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<b>Sam:</b> So if those figures are inaccurate, how much could they be off percentage-wise before the market would notice?<br />
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<b><span style="color: #990000;">John:</span></b> Honestly, I have no idea. The Iraqi government is pretty opaque. I can’t imagine it’s an order of magnitude but if I had to guess I suppose their numbers could be off +- 30% in different measures. Despite their publications, I seriously doubt they have accurate measures of inflation, which is usually the first ‘market indicator’ to react to fake numbers. So without an accurate measure of price inflation, it is really hard to say how far off they are. There isn’t a robust international market for IQD so that isn’t much help either.<br />
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<b>Sam:</b> Some of the gurus are saying that the money supply figures on the CBI website include US dollars, and that if you remove dollars from circulation inside of Iraq those money supply figures will come down. Any truth to that? Do any central banks include US dollars or any other foreign currency in circulation in their currency's money supply figures?<br />
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<b><span style="color: #990000;">John:</span></b> No, foreign currency is not counted in money supply unless you are using the foreign currency as your domestic currency. If foreign currency is being included in money supply it would be broken out separately. I can’t think of an example of this but I suppose a country could do it. However, combining them would be useless because it would make the rest of the information meaningless.<br />
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<b>Sam:</b> So those figures of 35 trillion, 72 trillion, and 85 trillion are all in dinar?<br />
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<span style="color: #990000;"><b>John:</b></span> Yes, they are all dinar. M0, M1, M2 and so forth are simply measures of hard currency, demand deposits, timed deposits and money market funds that are all denominated in IQD. So M0 is mostly just hard currency. Then M1 adds together hard currency, checks and certain deposits. M2 includes all of M1 (which includes M0) and also accounts for money market funds and other kinds of timed deposits. The U.S. money supply is measured the same way. M0 in the US is a mere fraction of M2 (which includes M0, and M1) and is currently over $11Trillion USD.<br />
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<b>Sam:</b> Money supply has been defined as "the aggregate amount of monetary assets available in a country at a specific time". Some gurus take the word "assets" and try to make it appear that Iraq's assets are included in the money supply, and that means that the money supply figures aren't necessarily liabilities that require backing by the reserves. I'm going to admit that what accounting I took in college was mostly over my head, and I'm guessing that most of my readers were no better. Without getting too technical, could you explain assets and liabilites in money supply, and how these concepts relate to the dinar and the CBI's figures?<br />
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<span style="color: #990000;"><b>John:</b></span> Currency issued by the central bank is considered a liability of the bank in the same sense that your deposit at your local bank is also considered a liability to that bank. This is confusing because it’s a little different than how you normally think about debt or liabilities. Think about it like this… the money belongs to you but it is issued and backed by the central bank/government. So its your asset but the bank has a responsibility for it, so it must be their liability. It can’t be an asset to both entities. The assets of the central bank are real assets. They could include securities, bonds, property, gold, foreign exchange reserves, etc. The assets of the bank would also include loans made to other financial institutions.<br />
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<b>Sam:</b> So the 35, 72, and 85 trillion are liabilities to the CBI?<br />
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<b><span style="color: #990000;">John:</span></b> Yes, those are liabilities to the CBI. If you pull their financial statements, you will see all the components of M2 (which includes M0 and M1) in the liabilities section of the balance sheet. Its going to vary a little because they are categorized differently but the numbers should be pretty close.<br />
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<b>Sam</b>: Some of the gurus insist that Iraq is reducing the money supply because there have been articles about a reduction in the note count. Is the number of notes in circulation relevant to money supply totals?<br />
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<span style="color: #990000;"><b>John</b></span>: Yes it is. In developed economies the hard, physical currency is a very small fraction of the money supply so it wouldn't really matter that much. However, in the case of Iraq, hard currency is a major percentage of the money supply. So the question would be are they reducing the lower denominations because they just aren't in demand? They have been doing that in the U.S. for a while now as well and it is pretty normal as you determine what kinds of notes are used most frequently. I actually don't know what kind of notes they CBI is reducing or if that is even true but printing more or less of a certain note that is used in the economy will change over time as prices change. Its normal to do that in any economy. In any case, according to the CBI, the hard currency amounts aren't shrinking so I am not sure where they are getting their information.<br />
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<b>Sam</b>: One of the gurus talks about Iraq creating demand for their currency by using it for trade with other countries. Is the frequency of use relevant to the value of a pegged currency?<br />
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<b><span style="color: #990000;">John</span></b>: Yes it is. The more the dinar is used for trade the more demand for the IQD will rise. This is relevant because a pegged currency strategy will require the Iraqis to then subsequently sell dinar to keep its value low. They are in fact doing this very thing right now and it is all normal. Its exactly what you would expect from any net exporter who isn't suffering from massive inflation. If you have to buy oil for Iraq, you have to do it in dinar. So demand for dinar grows, which would push its value up. The Iraqi's do what every other net exporter with a pegged currency does and they then sell dinar to keep its value from rising due to demand.<br />
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<b>Sam</b>: The same guru says that Iraq is holding the value down for now so that they can build their infrastructure cheaply, the implication being (as I understand it anyway) that as they approach the completion of their infrastructure they'll begin to raise the value. Is there any validity to this theory?<b><span style="color: #990000;"></span></b><br />
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<b><span style="color: #990000;">John</span></b>: This guru has it exactly backwards. If the dinar were expensive they could import what they need for infrastructure more cheaply. Internal costs aren't likely to be affected in the short run by market fluctuations of the dinar so it doesn't help them there either. In fact, they have to walk a tightrope right now. If inflation rises too quickly, not only will imports become much more expensive but internal costs will skyrocket. The IMF has issued very strong warnings to the Iraqi government this year that deficit spending is getting out of control and could become a big problem. The big savings in infrastructure would come from an expensive dinar that can buy international goods and services cheap.<br />
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<b>Sam:</b> Just a hypothetical scenario here .... if somehow the CBI were to remove three zeros from the dinar without redenominating (in other words a revaluation from $.00086 to $.86 per dinar) what would that do to their economy?<br />
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<b><span style="color: #990000;">John:</span></b> If you hold everything else equal (unlikely in this situation) then the average price level would just go up by 1000 fold. So what used to cost 100 dinar would cost 100,000 dinar. In Theory-Land there would be no effect on the economy. The currency’s <a href="http://www.investopedia.com/terms/n/notionalvalue.asp" target="_blank">notional value</a> may have been increased a thousand fold but your purchasing power (in notional terms) just dropped a thousand fold. It would just wash itself out. However, in reality I would imagine this would be incredibly disruptive and would hurt confidence. If countries could do this, why don’t they? It actually reminds me of when Saddam set the value of the old Saddam dinars at an artificial rate. It didn’t affect anything in the real world or inside Iraq, it just made revenue collection and book-keeping impossible.<br />
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<b>Sam:</b> Some are now talking about the dinar going to a free float and appreciating on the open market to $1 or more. Could you give us your take on that possibility?<br />
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<b><span style="color: #990000;">John:</span></b> Will the Iraqi government float the dinar? Maybe, but most big oil exporters don’t. It causes a lot of problems as the Russians can attest. <span style="color: blue;">(</span><span style="color: blue;">NOTE: Russia is a big oil exporter, and their currency the ruble has depreciated considerably in recent years.) </span>I suppose they could, but it seems unlikely. Will the dinar appreciate to $1 in a free float? Not a chance. That would be a complete disaster for the Iraqi economy. There is a reason no economy wants their currency to appreciate too fast. These reasons are even more important for commodity exporters. Its important to note that there is no such thing as a floating currency that isn’t manipulated by the central bank to a certain extent. So if you float your currency, that just means you aren’t targeting a specific rate and the central bank doesn’t stand ready to exchange at that rate. However, it does not mean that the central bank (as we have seen over the last several years) won’t intervene to drive the value of their currency down in the market.<br />
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<b>Sam:</b> "But Iraq's commodity is oil. Isn't their oil sold for USD?"<br />
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<span style="color: #990000;"><b>John:</b></span> Yeah, I should clarify that. Oil is sold for dollars by OPEC nations. Those dollars are called petrodollars and is at least part of the reason the USD is the world's reserve currency. However, the cost of oil production, infrastructure investment, and government spending still has to be covered in IQD. The production costs for Iraq are incredibly low but volume is still going to be very high, which would lead to an appreciation in the IQD alone. However, in addition to production costs, those petrodollars are going to have to be spent (like they are elsewhere in OPEC) on infrastructure spending, social programs/government spending, and other investments. Very little of it is likely to wind up in a surplus after imports are accounted for. So the problem remains a big issue.</div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiq85I3yEv-sRKuHbYJRVQS4xrZeiGxerx6IaYLimdkJVvf93Yt41ZAZYfjylJnO3Z3caiY1ZGYXpLPpPkyTMFoj-p55NorKuS8heK1gRKJyaiq6uhlJbU_CXOTD-vHjUZtRbOEne5xv0s/s1600/jj.JPG" imageanchor="1" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="200" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiq85I3yEv-sRKuHbYJRVQS4xrZeiGxerx6IaYLimdkJVvf93Yt41ZAZYfjylJnO3Z3caiY1ZGYXpLPpPkyTMFoj-p55NorKuS8heK1gRKJyaiq6uhlJbU_CXOTD-vHjUZtRbOEne5xv0s/s1600/jj.JPG" width="151" /></a>If those petrodollars are converted to IQD then the IQD would still appreciate in value. For example, lets say that oil's price per barrel is $100. Now lets assume that Iraq needs 100,000IQD to pay for production costs, investment and government spending. So that would mean that $85.76 of that $100 is converted to IQD and the rest is surplus that can be spent or invested outside the country. Now assume that demand for the IQD drives its exchange rate to 800IQD to the dollar. They still need 100,000IQD to pay for intrinsic and extrinsic costs but now that $100 per barrel is only worth 80,000IQD. They would essentially be selling the oil at a loss when converted to IQD. Unlike Canada or the UK, Iraq will sell its oil in dollars (petrodollars) but eventually part (or most) of that payment has to be converted to IQD. The end effect is the same... a rising IQD puts Iraq in a losing situation. They may not lose marketshare (as I suggested) but they will lose profitability. Now, also keep in mind that this situation is unique to the oil trade. OPEC countries are and should be working to diversify their industrial production. I know Iraq wants to do the same. Although it may take a long time, a more diversified export trade will need a stable (mostly non-appreciating) currency.<br />
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<b>Sam:</b> So in your opinion, what would happen if the dinar were placed on a free-float? Would it go up, down, or would the CBI attempt to manipulate it and keep it relatively stable?<br />
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<b><span style="color: #990000;">John:</span></b> Well, the dinar does float. These are distinctions that I think dinar pumpers are making out to be something they aren’t. If you can buy and sell it on the market (which thousands of dinar investors can confirm) then it is floating. The question is whether that float is pegged or not. So by definition, a ‘free float’ means you are either not intervening or intervening very little in your currency’s value. You can’t just dictate its value to the international market, you have to work to get it set where it is. </div>
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So what if they allowed the dinar to float freely without intervention? Interesting question and it’s a little complicated. It is really a balance between the current account and fiscal spending. If they don’t intervene then oil exports and their current account surplus could drive the currency higher. However, if the price of oil drops from where it is now and the government’s budget deficit continues to grow then inflation will rise and the currency will drop.<br />
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Which of these two factors is more likely to play a dominant role? I don’t know but past history shows that it is far, far more likely for the fiscal side to outweigh the current account surplus. If <a href="http://en.wikipedia.org/wiki/Brent_Crude" target="_blank">brent oil</a> prices drop below $100 per barrel, I think they are pretty hosed. However, if brent prices rise (a lot) then I think they could keep the IQD’s value relatively stable in the short run despite their spending. So the bottom line is that if they stopped intervening in the market I think the IQD would rise a little until the current account surplus evaporated due to a more expensive IQD and then it would get crushed under the weight of deficit spending and low investment. Since no one can predict the future I have to go with history and that shows that a big appreciation in the IQD is extremely unlikely. I think the bolivar is a really good analogy to this situation. <span style="color: blue;">(</span><span style="color: blue;">NOTE: Venezuela is also a big oil exporter like Iraq, and their currency the bolivar has depreciated considerably in recent years.)</span><b></b><br />
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<b>Sam:</b> You're referred to the dinar investment as a scam. For those who are still on the fence, could you briefly explain why there's no chance of getting rich from a revaluation or a float of the dinar?<b><span style="color: #990000;"></span></b><br />
<b><span style="color: #990000;"></span></b><br />
<b><span style="color: #990000;">John:</span></b> It is not in the best interest of the Iraqi government or its people to intentionally increase the value of their currency. They don’t want it to drop to nothing either but rising in value is a problem for an oil exporter and they would be expected to fight that trend. Why would you invest in an asset that is controlled by an entity that wants it’s value to either stay flat or slowly depreciate over time? That is the scam. Commodity exporters work very, very hard to make sure they stay competitive in the international market. Part of that means they have to keep their currency from appreciating against their customers’ and competitors’ currencies. Fortunately (or unfortunately depending on your point of view) almost all emerging economies have the opposite problem. Their currencies depreciate over time too quickly until inflation starts to harm the economy and they can’t import things they need.<br />
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<b>Sam:</b> Many people are buying the Vietnamese dong, too. It's not an oil-based economy, so is there any chance of getting rich from owning VND?<br />
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<b><span style="color: #990000;">John:</span></b> In my late teens I translated (very poorly) for Vietnamese immigrants in Philadelphia for doctors and social workers and such. So let me brush off a little of my tieng Viet and answer this way… múa gay vuan hoang. In other words, they are trying to get blood from a turnip with that investment.</div>
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Its possible the VND could appreciate a little but very unlikely. I am not an expert on their economic situation but my understanding is that the manufacturing sector is growing rapidly. If they are able to keep inflation under control (suppressing snickers) then demand for their exports could drive the VND a little higher. However, for the same reasons the Iraqis would not want the dinar to appreciate, the Vietnamese would NOT want this to happen. It puts them at a disadvantage to competitors like Bangladesh, Philippines and Ecuador. The bottom line is that developing countries that hope to run a trade surplus do not want an appreciating currency and they will fight it.<br />
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I learned a lot from this exchange, and even had a couple of misconceptions of my own brought to light. This makes three times that he has discussed the dinar investment on my blog. I would like to challenge any of the gurus to bring someone comparable onto their broadcasts. I saw one the other night lamenting over the fact that people don't want to discuss the dinar with him on his show. Gee, I wonder why? </div>
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You can <a href="http://www.learningmarkets.com/about/" target="_blank">read John's bio here</a>, and <a href="http://www.learningmarkets.com/videos-and-courses/" target="_blank">watch his videos here</a>. Thanks to John for taking time out of his busy schedule to answer these questions. This is a guy who is sought out by Fortune 500 companies for his expertise in these areas. He's not an anonymous, faceless guru with no credentials or accountability. He's a man whose livelihood depends on knowing his stuff and getting things right. You wouldn't want to take medical advice from an anonymous guy on the internet, so why take financial advice from one? In the five years since John produced those videos debunking the dinar investment scam absolutely nothing has happened to prove him wrong. Compare his track record with the gurus, folks. It's a no-brainer.<br />
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Unknownnoreply@blogger.com35tag:blogger.com,1999:blog-5596379580203915255.post-67825944052111582622014-05-11T01:09:00.002-07:002016-09-17T01:19:40.429-07:00WHNT's "Iraqi Dinar: Fact or Fiction?"<div class="separator" style="clear: both; text-align: center;">
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A couple of months ago Alabama TV station WHNT did a segment called "<a href="http://whnt.com/2014/03/10/tuesday-is-iraqi-dinar-investment-a-scam/" target="_blank">Iraqi Dinar Investment: Smart Move or Scam?</a>". It was a very good introduction to their follow-up segment which aired on Friday called "<a href="http://whnt.com/2014/05/09/iraqi-dinar-investment-fact-or-fiction/" target="_blank">Iraqi Dinar: Fact or Fiction?</a>" In this segment they list several of the claims made by gurus to promote "The RV" and then debunk them. If their reporting sounds a lot like what I've been saying there's a good reason. We spoke briefly back in March, and they told me that they came across this blog while doing their research, and that led them to many of their findings. Well if nothing else we've produced a good resource for debunking. The best thing to come out of this report IMO was the IMF representative stating emphatically that there is no such thing as a Global Currency Reset (GCR). Put that in your pipe and smoke it, Eagle1 / Tony / Okie! I was also glad to see our friend John Jagerson in the video. I'm preparing another interview with John for later this week.<br />
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I don't think it's any coincidence that a TV station in Alabama felt the need to do two reports on the dinar investment scam, and that Mississippi congressman Bennie Thompson warned his constituents not to buy dinar. That region has been hit especially hard by the scammers because of the lower levels of education. The dinar scam feeds on ignorance. My ignorance of how currencies work is what made me vulnerable, which is why I've endeavored to educate people along these lines as I educate myself. WHNT has now started educating people as well. Hopefully Michelle Stark's excellent reporting will make a difference, not only in Alabama but nationwide.<br />
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Unknownnoreply@blogger.com17tag:blogger.com,1999:blog-5596379580203915255.post-38264587709668375272014-05-03T23:05:00.000-07:002016-09-17T01:19:40.377-07:00Top Ten Reasons the RV is a ScamI hear starry-eyed dinar dreamers constantly repeating that the dinar can't be a scam because it's a real currency, and that they're just engaging in speculation like any other investment. Okay, let's explore that for a minute.<br />
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People have speculated in real estate for hundreds of years. It's never been considered a scam to sell real estate either as an investment or for business or personal use . But let's suppose that you were sold a piece of property that was sitting on top of a landfill and the owner didn't inform you of that. Would you feel that you had been duped? <a href="http://www.timkaren.com/lawyer-attorney-1145277.html" target="_blank">Here's a law firm who handles fraud cases like this</a>, and <a href="http://tbo.com/business/business/2011/oct/30/menewso1-developer-never-disclosed-remediated-land-ar-299288/" target="_blank">here's a story of a case where this actually occurred</a>. Or suppose that you bought at a certain price, only to find out that market prices in the area were lower than you were told. Would you feel that you had been scammed? <a href="http://articles.orlandosentinel.com/2012-09-09/business/os-cfb-real-estate-mortgae-fraud-0910-20120909_1_orlando-lawyer-industrial-center-square-feet" target="_blank">Here's a story of a converted condo scam in Florida where condo prices were fraudulently inflated</a>. Or what if you were told that real estate prices would skyrocket because of a big company that was moving into the area? <a href="http://www.kmov.com/news/local/St-Louis-area-man-accused-of-multi-million-dollar-real-estate-fraud----236401201.html" target="_blank">Here's a story about that happening in the St. Louis area</a>. Sure, real estate acquisition is a legitimate thing. But if you are misinformed about the facts concerning the investment you'd probably consider it a scam. <br />
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The problem with the dinar investment isn't the fact that the dinar isn't a legitimate currency. It is, and you can use it in Iraq to buy things if vacationing in a dangerous hellhole is your idea of a good time. You can't use it outside of Iraq though, and obviously the reason people are buying it is because of the belief that it could skyrocket in value and make them wealthy. The problem is all of the lies that are told in order to convince people to buy it. Here's my list of the top ten lies that are told about "The RV". As you can see many of these lies overlap, but they're all geared toward making people believe that the dinar will increase in value 100,000% or more and that is impossible. <br />
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<ol>
<li><b>The dinar was devalued as a war strategy before the 2003 invasion, with the intent of bringing the value (presumably $3+) back after a new government is in place and things have stabilized. </b>Actually the dinar depreciated for nearly 20 years prior to 2003 due to Saddam Hussein's reckless leadership in the '80s and 90's. This is supported by <a href="http://www.cbi.iq/index.php?pid=History" target="_blank">the CBI website</a> and <a href="http://www.youtube.com/watch?v=6jy0T9HVYFA" target="_blank">Shabibi's comments in Washington, D.C. in 2011</a> (5 minutes in). All of the references to bringing the value of the dinar back were in the context of redenomination, which won't produce any profit for dinar speculators.</li>
<li><b>Bush said that the war would pay for itself. </b>I've heard this claim for years but nobody has yet been able to provide one video, audio, or speech transcript where Bush said anything of the sort. The reason is obvious - he never said it! Some in <a href="http://www.thenation.com/article/experts-speak-iraq" target="_blank">the Bush administration talked about the fact that Iraq's oil revenues could help to pay for the cost of reconstruction</a>, but that's a far cry from the idea that there was a pre-war plan to scoop up trillions of dinar and then raise its value to $1 or more to cover the cost of the war (nearly $1 trillion) and/or pay down the national debt.. In fact, Iraq is already contributing about $5 billion a year to the cost of reconstruction without "The RV". (Watch <a href="http://www.foreign.senate.gov/hearings/hearing/?id=a421f9a1-5056-a032-52ae-3e2b956077c2" target="_blank">this video of the Senate Foreign Relations Committee</a> at 92 minutes in.) </li>
<li><b>The U.S. Treasury has trillions of dinar, in anticipation of the RV.</b> No they don't. They only have enough to handle daily operations according to the UST and the DOJ. In fact the DOJ was so sure of this fact that they charged Rudy Coenen (<a href="http://dinardouchebags.blogspot.com/2013/04/rudy-pleads-guity.html" target="_blank">who pleaded guilty</a>) and Brad Huebner with fraud for making that claim in their conference calls. <a href="http://www.justice.gov/usao/ohn/programs/vw/Huebner/Huebner_Indictment.pdf" target="_blank">Read page 5 of the indictment</a>. Another claim that is often made that this is how Bush or Obama will pay down the debt or balance the budget. </li>
<li><b>The CBI is reducing the money supply so that they can raise the value.</b> No they aren't. All you have to do is<a href="http://www.cbi.iq/documents/key%20financial.xls" target="_blank"> look at the financials on the CBI website</a> to see that the money supply is increasing, not decreasing. When you point that out to these guys they insist that those numbers aren't accurate, and that the CBI is putting out bogus numbers to discourage speculators. Really? It's a bit late for that, don't you think? <span style="font-family: inherit;"><span style="background-color: white; font-size: 14px; line-height: 19.6px;">According to Roger Dorman, owner of Dinar Daddy, </span><a href="http://www.dinarguru.com/dinar-guru-archive2.html" target="_blank">there's an estimated 3 million Americans who own an average of 1.2 million dinar each</a> (6-3-2011)<span style="background-color: white; font-size: 14px; line-height: 19.6px;">.</span></span><span style="background-color: white; font-family: Arial, Tahoma, Helvetica, FreeSans, sans-serif; font-size: 14px; line-height: 19.6px;"> </span><span style="background-color: white; font-size: 14px; line-height: 19.6px;"><span style="font-family: inherit;">That's 3.6 trillion dinar in the US alone, and that was nearly three years ago, folks! According to Marcus Curtis' research <a href="http://iraqcurrencywatch.wordpress.com/2014/02/07/guru-td-has-a-revelation/" target="_blank">there's over 25 trillion dinar held by speculators outside of Iraq</a>. Trying to discourage speculation now would be like closing the barn door after the horses got out. </span></span><span style="background-color: white; font-family: Arial, Tahoma, Helvetica, FreeSans, sans-serif; font-size: 14px; line-height: 19.6px;"> </span>Besides, Iraq is on an IMF program rate which requires transparency, and they are audited by Ernst & Young to verify their numbers. </li>
<li><b>The CBI is manipulating the rate, holding it down artificially in a dirty float.</b> Not true. (See my post <a href="http://dinardouchebags.blogspot.com/2013/07/dirty-float.html" target="_blank">Dirty Float</a>.) They manage the exchange rate just like every other oil based economy in that region does, by raising or lowering the money supply according to the size of the foreign currency reserves backing their currency. Like their neighbors I<a href="http://dinardouchebags.blogspot.com/2012/09/shabibi-and-stability.html" target="_blank">raq's monetary policy is exchange rate stability</a>. The fact that dinar dealers don't inform their customers of this policy is akin to selling real estate that is built on a landfill without informing the buyer. It's misrepresentation by omission. </li>
<li><b>Executive Order 13303 gives speculators the right to invest in the dinar.</b> Supposedly Bush signed the order because his administration set up this big RV to reap a windfall for Americans and the nation's economy. But EO13303 says nothing about the dinar or any other currency. It was issued to protect the Development Fund for Iraq. This also was one of the fraud charges against Rudy and Brad. Again, <a href="http://www.justice.gov/usao/ohn/programs/vw/Huebner/Huebner_Indictment.pdf" target="_blank">read page 5 of the indictment</a>. </li>
<li><b>The same thing happened with the German deutsche mark after WWII and the Kuwaiti dinar after Desert Storm, and people made millions from those revaluations</b>. This one is going to take some time, but it's important to establish some facts here because these lies led many people (myself included) to believe that this incredible increase in value was possible since it supposedly has happened before. First of all let's define what a revaluation is. It's an increase in the value of a pegged currency enacted by the central bank of a country. (If they decrease the value it's referred to as a devaluation). Revaluations are usually small adjustments of 1 or 2%, unless they are part of a crawling peg exchange rate regime like Iraq followed from November of 2006 to January of 2009 when they raised the value a total of 26% to bring the inflation rate down to a manageable level. The largest revaluation in history is the ongoing (over 8 years now) revaluation of the Chinese renminbi (yuan) which was raised a total of 35% as a result of political pressure. Somehow the dealers and gurus overlooked that inconvenient little fact. When you understand that you can see that it's insane to believe that the CBI would raise the value of the IQD 100,000% or more. The deutsche mark didn't even exist during WWII. The currency of Germany that depreciated during the war was the reisch mark, and it was replaced by the deutsche mark in a redenomination. The Kuwaiti dinar was replaced by the Saddam Iraqi dinar while they were occupied by Iraq. Once the Iraqis were run out of Kuwait the Central Bank of Kuwait reinstated the Kuwaiti dinar as the country's currency at essentially the same value it had prior to the occupation. There was no revaluation of either the deutsche mark or the Kuwaiti dinar, and nobody made millions in either situation. Lies! </li>
<li><b>The most you can lose is 20%.</b> Try 100%. Banks have already quit handling the dinar, and it's becoming increasingly difficult to exchange through dinar dealers. You can sell dinar on ebay but these days it's a buyer's market and there are hundreds of dinar listings to compete with. Once Iraq redenominates there won't be any dinar buyers on ebay. In a redenomination it's not unheard of for a country to do an in-country only exchange. That's what Iraq did in 1993 and 2003. If they do it again trillions of dinars will probably become worthless outside of Iraq in the hands of disillusioned speculators.</li>
<li><b>The dinar is like a stock in Iraq, and as their economy grows your stock will go up in value. </b>Not even close. (See my post <a href="http://dinardouchebags.blogspot.com/2013/10/currency-is-not-stock.html" target="_blank">Currency is Not Stock</a>.) Currency is a means of exchange for goods and services. It's typically counterproductive for a currency's value to go up by more than a few %, and more often than not a country with a growing economy will prefer a depreciating currency valuation on the foreign exchange. A stock is a share in the equity value of a company. The purpose of issuing and owning stock is to benefit both the company and the shareholder as the stock's value increases, reflecting the profitability and growth of the company. If a currency were to increase in value like stocks do it would result in deflation, because as the currency's value goes up prices for goods and services would go down. When prices go down people curtail their spending habits, and that leads to a slowdown if not a collapse of the economy. That's why economists will tell you that deflation is worse than inflation, because at least with inflation people usually keep spending and the economy keeps growing.</li>
<li><b>Deleting the three zeros means removing the notes with three zeros from circulation in anticipation of the RV which will then require new lower denoms to be issued.</b> Deleting the zeros means redenomination and always has. (See my post <a href="http://dinardouchebags.blogspot.com/2012/06/deleting-zeros.html" target="_blank">Deleting the Zeros</a>.) Sometimes they call it removing, lopping, chopping, slicing, cutting. or dropping zeros but all of these are another way of saying that a currency with added zeros because of a history of hyperinflation is going to be replaced by a more valuable currency with fewer zeros and a proportionately smaller money supply. As much as the RV crowd is rooting for the enactment of currency reform in Iraq, the currency reform plan of the CBI is the last thing that any speculator should hope for. A much better scenario would be for the CBI to scrap its plan and go to a crawling peg like they did from 2006 to 2009. Nobody would get rich from an increase of 1% per month but at least the value would be going up. </li>
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I could have added several more. The dinar isn't backed by oil. Iraq isn't a producer of gold, nor are they a wealthy country. Countries don't only redenominate when they have high inflation. Shabibi never said give me a seated government and I'll revalue the dinar. Those are all pumper lies.<br />
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Just like the real estate speculators bought because they thought that a big deal had been struck with Wal-Mart, dinar speculators are buying because of lies. The dinar isn't a scam. It's a currency. Revaluation isn't a scam. It's a legitimate monetary mechanism that is used from time to time as needed. But nobody gets rich from revaluations, and the suggested possibility of getting rich is what drives dinar sales. And <strong>THAT</strong> my friends, is the scam.<br />
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Unknownnoreply@blogger.com34tag:blogger.com,1999:blog-5596379580203915255.post-58602897680142670752014-04-29T04:17:00.000-07:002016-09-17T01:19:40.410-07:00Another Douchie for DaveyWell Davey is back. That's right, <a href="http://dinardouchebags.blogspot.com/2014/03/douche-of-month.html" target="_blank">March Douchie winner</a> Dave Schmidt decided to respond to winning this illustrious award in a video where he was also forced to give an account for why he was booking and attemtping to book some less than credible gurus on his call-in show. During the video he said:<br />
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<tr><td class="tr-caption" style="text-align: center;">Dave Schmidt</td></tr>
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<span style="color: #990000;">"I had a distinction this week that I guess I would consider it as a badge of honor. I've been put on what is called the Dinar Douchebags blogsite as what is called the dinar douchebag of the month. You know folks, when you step into historic changing events there's always critics. There's always doubters. There's always those that want to complain, want to criticize, and want to call this a scam. First of all this can't be a scam, because a scam is when you're defrauding people out of money."</span> <br />
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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. <a href="http://dinardouchebags.blogspot.com/2013/05/scam.html" target="_blank">I've listed dozens of organizations that have referred to it in exactly that manner</a>. 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. <a href="http://www.realscam.com/attachments/f12/1576d1348185792-bayshore-capital-investments-bh-group-bhgroup_indictment.pdf" target="_blank">The DOJ listed some of these lies in their case for fraud against Brad Huebner and Rudy Coenen</a>. "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 "<a href="http://dinardouchebags.blogspot.com/p/fact-fiction.html" target="_blank">Forum Facts</a>". 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. <br />
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<span style="color: #990000;">"The other thing is critics are those who usually are very quick to shoot from the hip, and they refuse to do their homework. I'm going to be very honest. They're lazy. They wanna be angry, they wanna be mad, because down inside they wanna believe that it's too good to be true and they just won't do their homework."</span><br />
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Actually I wanted to believe that it <b>wasn't</b> 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 expos<span style="background-color: white; color: #252525; font-size: 14px; line-height: 22.39px;"><span style="font-family: inherit;">é</span></span> 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.<br />
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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!<br />
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Anyway, since Davey seemed to embrace his March Douchie I figured I'd grant him another for April. <br />
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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.<br />
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<a href="http://mriqd.com/2014/03/28/rant-respected-state-senator-has-fallen-to-hack-guru/" target="_blank">http://mriqd.com/2014/03/28/rant-respected-state-senator-has-fallen-to-hack-guru/</a><br />
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<br />Unknownnoreply@blogger.com68tag:blogger.com,1999:blog-5596379580203915255.post-59360712259874712562014-04-23T04:14:00.000-07:002016-09-17T01:19:40.413-07:00Dinar Trade / Xchange of America<div class="separator" style="clear: both; text-align: left;">
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<tr><td class="tr-caption" style="text-align: center;">Ali Agha</td></tr>
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<span style="font-family: inherit;"><br />Many in the dinar community have noticed that Dinar Trade just announced
that their business would be conducted by Xchange of America. I think most
assumed that this was just a name change or a restructuring of Dinar Trade, but
apparently there's a bit more to it. <br />
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</span><span style="font-family: inherit;">If you'll go to their website at <a href="https://www.dinartrade.com/" target="_blank">www.dinartrade.com/</a> or </span><a href="https://www.xchangeofamerica.com/" target="_blank"><span style="color: blue; font-family: inherit;">www.xchangeofamerica.com/</span></a><span style="font-family: inherit;"> you'll
see at the bottom that they're located in Stuart, Florida which is a long way
from Santa Monica or Las Vegas, the previous headquarters for Dinar Trade. If
this new location sounds familiar, it should. </span><a href="https://www.dinarinc.com/locations" target="_blank"><span style="color: blue; font-family: inherit;">Stuart,
Florida is the headquarters for Dinar Inc</span></a><span style="font-family: inherit;">. You might also notice that the
addresses for Dinar Inc. and Xchange of America match. What
gives? <o:p></o:p></span><br />
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<tr><td class="tr-caption" style="text-align: center;"><span style="font-family: inherit;">Robert Hoffman</span></td></tr>
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<span style="font-family: inherit;">You might recall that last year <a href="http://dinarvets.com/forums/index.php?/user/16721-man-kind/?tab=topics" target="_blank">Dinar Inc. announced that they took over Tampa Dinar</a>. Apparently Tampa Dinar fell on hard times and Dinar Inc. was there to scoop them up. </span><span style="font-family: inherit;">What you might not be aware of however, is that </span><a href="http://search.sunbiz.org/Inquiry/CorporationSearch/SearchResultDetail/EntityName/flal-l12000007904-4287bad5-0a49-4981-b1fd-ec9dd0cba7fd/xchange%20of%20america/Page1" target="_blank"><span style="color: blue; font-family: inherit;">two years ago Robert Hoffman of Dinar Inc. established Xchange of
America</span></a><span style="font-family: inherit;">.</span><br />
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<span style="font-family: inherit;"> </span><br />
<span style="font-family: inherit;"></span>What does this mean? Too soon to tell, really. Maybe Ali just got burned out. Maybe he had financial setbacks or legal issues. Or maybe he felt that the time was right to get out of the currency game. But this could also be some sort of merger rather than an acquisition, where Ali will now gain access to Xchange of America's locations. After all, the news came out the same day as <a href="http://ninanews.com/english/News_Details.asp?ar95_VQ=HDMGFF" target="_blank">the news about money transfer businesses being allowed to set up accounts with the CBI</a>. Who knows? But this is news that the dinar world should be aware of. No cryptic messages or shell games here. Just the facts. Let the discussion begin.<br />
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Unknownnoreply@blogger.com26tag:blogger.com,1999:blog-5596379580203915255.post-4279861282830137612014-04-22T04:00:00.000-07:002016-09-17T01:19:40.391-07:00Iraqi Election<table cellpadding="0" cellspacing="0" class="tr-caption-container" style="float: left; margin-right: 1em; text-align: left;"><tbody>
<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhHQ90GazZscdO9UsW1RXOEuW7xlArId5nbQkj0teWY-D98TS2xoJ-bgiD-Q5QnMHYYKiNqEAPeLysIlB6SL-MT9n25Z2u_QE6lfk6naeDmScA3VF_XcZGFgDCvF2L23A0JVzLa386Ur6Y/s1600/maliki.jpg" imageanchor="1" style="clear: left; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhHQ90GazZscdO9UsW1RXOEuW7xlArId5nbQkj0teWY-D98TS2xoJ-bgiD-Q5QnMHYYKiNqEAPeLysIlB6SL-MT9n25Z2u_QE6lfk6naeDmScA3VF_XcZGFgDCvF2L23A0JVzLa386Ur6Y/s1600/maliki.jpg" height="208" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Nouri al-Maliki</td></tr>
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For the past four years we've been hearing from the gurus that Maliki is history. He's going to be run out of office, arrested, assassinated, tortured, or run out of the country. Supposedly the powers that be (PTB) were tired of him holding up the RV or the GCR or whatever. In 2010 the election was essentially a tie and the stalemate lasted for eight months. Almost all of the gurus said that Allawi would prevail. They were wrong. Time after time those same gurus told us that Maliki was a crook and wouldn't finish out the year. They said that in 2011, 2012, and again in 2013. Wrong, wrong, and wrong. Now the gurus are telling us that Maliki is seeking a third term in violation of the Iraqi constitution. I don't know about that since I'm no expert on their constitution or political process, but a<a href="http://www.al-monitor.com/pulse/originals/2014/02/iraq-nia-decision-third-term-prime-minister-maliki.html#" target="_blank">ccording to this article the Iraqi supreme court overturned a law limiting the prime minister to two terms</a>. Regardless, I don't think it really matters where the dinar is concerned. Maliki or no Maliki this millionaire-creating RV isn't going to happen. <br />
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Anyway, we're hearing almost unanimous declarations that Maliki won't win another term in the upcoming election. He's "in a world of hurt" or he's "toast" or he's "finished" or he's "fighting for his life". All rubbish. But the gurus have to have somebody to blame for the fact that this RV hasn't materialized, don't they? I wrote about this nearly two years ago in "<a href="http://dinardouchebags.blogspot.com/2012/06/maliki-and-rv.html" target="_blank">Maliki and the RV</a>". You see, these guys have made Maliki the scapegoat for years, saying that he is holding up the RV or the GCR or whatever. So they have to tell their listeners that Maliki won't win another term because if he does we're looking at another four years of Maliki holding up the RV or the GCR or whatever, and who wants to hang around another four years waiting for this thing to pop? <br />
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Let me go on record as being neither pro-Maliki or anti-Maliki. My position is that the guy is probably no better or worse than any other leader would be, but he's obviously a better politician. He knows how to work the system, and despite all of the problems in Iraq he has managed to keep the country from self-destructing. So far, anyway. While I won't make any predictions about the election I will say this .... based on Maliki's track record and the track record of the gurus I wouldn't be the least bit surprised to see Maliki win and serve a third term as prime minister of Iraq. <br />
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If that occurs be prepared to hear more cries of Maliki holding up the RV or the GCR or whatever. If Maliki doesn't win then be prepared for new non-Maliki-based excuses as to what's holding everything up now. It's how the gurus roll. <br />
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<br />Unknownnoreply@blogger.com6tag:blogger.com,1999:blog-5596379580203915255.post-3475766000178938842014-04-18T15:13:00.002-07:002016-09-17T01:19:40.370-07:00Deleting the Zeros II<div>
<span style="background-color: white; color: #717070; font-family: Arial, Helvetica, 'Arial Unicode MS', sans-serif; font-size: 11px; line-height: 11px;">June 24, 2011</span></div>
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<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg5jZvcrCI5NKuwgwTNHK_z1h2XLp3S6PPfUfVeaUhm5-19DHZ6Ev4KGVpzATGN3SglNW8q9UbC3zK6uzYun4gP3GpvYwOdmpD-OaVbO7fvGpdcLs1TujKBXY-iQ7qfkPR3asAElYQSmHQ/s1600/dinars.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg5jZvcrCI5NKuwgwTNHK_z1h2XLp3S6PPfUfVeaUhm5-19DHZ6Ev4KGVpzATGN3SglNW8q9UbC3zK6uzYun4gP3GpvYwOdmpD-OaVbO7fvGpdcLs1TujKBXY-iQ7qfkPR3asAElYQSmHQ/s1600/dinars.jpg" height="180" width="320" /></a></div>
<span class="firstLetter" style="background-color: white; display: block; float: left; font-family: Georgia, 'Times New Roman', Times, serif; font-size: 45px; font-weight: bold; line-height: 42.75px; padding-bottom: 0px; padding-right: 3px; padding-top: 0px;">B</span><span style="font-family: Times, Times New Roman, serif;"><span style="background-color: white; font-size: 15px; line-height: 22px;">AGHDAD -- A senior Iraqi Central Bank adviser says the government has adopted a two-pronged plan to restructure the national currency in order to facilitate large transactions and make government accounts more efficient, RFE/RL's Radio Free Iraq reports. </span><br style="background-color: white; font-size: 15px; line-height: 22px;" /><br style="background-color: white; font-size: 15px; line-height: 22px;" /><span style="background-color: white; font-size: 15px; line-height: 22px;">Mudhhir Muhammad Salih, a member of the bank's advisory panel, told RFE/RL on June 23 that in the short term, larger banknote denominations of the dinar would be issued to simplify major transactions.</span><br style="background-color: white; font-size: 15px; line-height: 22px;" /><br style="background-color: white; font-size: 15px; line-height: 22px;" /><span style="background-color: white; font-size: 15px; line-height: 22px;">He said that because so many Iraqis still dealt mainly in cash, it was cumbersome to carry bags full of money to pay for expensive items like cars. The inconvenience leads people making such purchases -- as well as many entrepreneurs -- to use dollars for those kinds of transactions instead of dinars, something the government wants to end.</span><br style="background-color: white; font-size: 15px; line-height: 22px;" /><br style="background-color: white; font-size: 15px; line-height: 22px;" /><span style="background-color: white; font-size: 15px; line-height: 22px;">He added that large denominations equivalent to around $100 would be issued to simplify major purchases, and new coins and lower denominations would be introduced for smaller transactions.</span><br style="background-color: white; font-size: 15px; line-height: 22px;" /><br style="background-color: white; font-size: 15px; line-height: 22px;" /><span style="background-color: white; font-size: 15px; line-height: 22px;">In the longer term, Saleh said <b>a redenomination was needed wherein three zeros will be dropped so that the 25,000-dinar banknote -- currently the largest denomination -- becomes a 25-dinar note</b>.</span></span><br style="background-color: white; font-family: Arial, Helvetica, 'Arial Unicode MS', sans-serif; font-size: 15px; line-height: 22px;" /><br />
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The other day I was watching a certain guru attempting to answer an email about deleting the zeros. Essentially the question was "what is meant by deleting the zeros?" The guru proceeded to babble on for more than ten minutes about economic growth, the wealth of the Iraqis being restored, the money supply figures aren't accurate ... etc. As far as I could tell he never really answered the question but he clearly suggested that it means revaluation rather than a lop. I felt that it was a good question and it deserved a good answer. <br />
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I asked this question myself a few years ago. It drove me to study the subjects of redenomination and revaluation. In my studies I came across numerous news articles about other currencies that lost value after periods of hyperinflation, and were now being replaced with a new currency. I noticed a pattern. They all seemed to include references to removing zeros from the nation's currency. Sometimes they used the word "cut". Other times they said "chop". Some of the articles used "lop", "slice", "lift", or "drop". No matter what word was used, they were all clearly describing the same process. I wrote about this a while back in "<a href="http://dinardouchebags.blogspot.com/2012/06/deleting-zeros.html" target="_blank">Deleting the Zeros</a>".<br />
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When a country removes zeros from its currency it is a process that includes several components. First they have to announce it. A currency reform of this nature must be explained to people in order to proceed smoothly with no misunderstandings or complications, otherwise people might get the idea that the government is stealing from them. That is especially true in a country like Iraq where they had a ruthless dictator for decades who did exactly that. For the past few years the central bank of Iraq has been educating Iraqis about the coming monetary change. They've been telling them that the dinar that they're using now will be replaced by a new currency at a ratio of 1000 old for 1 new dinar. This will be accompanied by a new exchange rate where the decimal will move three spaces to the left (from 1166:1 to 1.16:1) and the new value will see the decimal move three spaces to the right (from $.00086 to $.86), thereby removing three zeros. The new notes will have three less zeros. The 25,000 dinar note worth about $21.50 will be replaced by a 25 dinar note worth about $21.50. The 10,000 dinar note worth about $8.60 becomes a 10 dinar note worth about $8.60. The 5,000 dinar note worth about $4.30 would become a 5 dinar note worth the same ...... etc. <br />
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After the announcement is made and the education process has begun, the new currency is designed and printed. There have been numerous articles about the designs being approved in Iraq but to my knowledge the printing process has never been approved because of the concerns among some in parliament that Iraq needs more stability before they can carry out this project. There have also been articles such as the one I recently wrote about stating that the current denominations are being printed with new paper, designs, and sercurity features. These would replace the worn out bills presently in use. If they go to the trouble and expense of printing new notes in the current dinar series one would assume that printing up notes to replace the IQD would still be a ways off.<br />
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Once the new bills are approved and printed they would be introduced into circulation. For a certain time frame (most articles about the dinar state two years) both currencies would be valid for in country purchases. In Iraq's case an item that cost 86 cents could be purchased with either a 1,000 old dinar note or a new 1 dinar note. When the time frame expires only the new currency would be considered legal tender. Some articles have referred to a ten year period where the old currency will be redeemable at banks, but to my knowledge none have stated that it could be used for purchases beyond 2 years. <br />
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When the process is complete the people have a new currency without the all the zeros that were added because of hyperinflation. Transactions are simpler. Accounting is simpler. And the people feel better about using a currency that has greater value. But there is no net change in the purchasing power. If a person had 10 million of the old currency worth $10,000 they would now have 10 thousand of the new currency worth $10,000. No increase or decrease. <br />
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This process has been carried out dozens of times over the past 50 years in large countries like Russia and Brazil and small countries like Iceland and Turkmenistan. It's been done in countries with great natural resources and countries without great natural resources. It's occurred in countries with growing economies and countries where the economy wasn't growing so well. The purpose is simplification of the monetary system, not to increase or decrease the wealth of the citizens. <br />
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I've discussed this process with a friend of mine who lives in a country where a redenomination occurred. I asked him if there was any change to his net worth when it happened and he said there wasn't. "As long as you exchange for the new currency in time" he told me. <br />
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<tr><td style="text-align: center;"><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgTBG5Sr_u3_nelK1_FBvlU7BQo0ScSPlH5_xU0PaFPYC9JSVH1cowVZ7_yO1Jmaedi1VMFuw7-M7ownF7HsImuf_1WGrEQ8tbLzyDhC_pL2o-MuBx1zY-OkK_y6X8HBSZDkXrEj8F1MQo/s1600/shabibi+april+19,+2011.jpg" imageanchor="1" style="clear: right; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgTBG5Sr_u3_nelK1_FBvlU7BQo0ScSPlH5_xU0PaFPYC9JSVH1cowVZ7_yO1Jmaedi1VMFuw7-M7ownF7HsImuf_1WGrEQ8tbLzyDhC_pL2o-MuBx1zY-OkK_y6X8HBSZDkXrEj8F1MQo/s1600/shabibi+april+19,+2011.jpg" height="160" width="320" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Shabibi in Washington D. C. - April 2011</td></tr>
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Now that we've discussed what "deleting the zeros" means, let's talk about what it doesn't mean. It doesn't mean removing three zeros from the value so that they can revalue 100,000% from $.00086 to $.86 and turn a $1,000 investment into $1 million. Revaluations don't work that way. The largest revaluation in history was only 35% (China's renminbi) and it took over eight years to move that much. It doesn't mean removing the three zero notes from circulation, either. As I mentioned earlier they're apparently planning on printing more three zero notes which they wouldn't be doing if they were interested in removing them from circulation. The gurus insist that in Arabic the CBI is saying that they will remove the 000 notes from circulation, but it loses that meaning when translated into English. But the fact is Shabibi spoke about this in English when he visited Washington D.C. in 2011 and he clearly stated that deleting the zeros means redenomination. He said nothing about removing the 000 notes. I wrote about this in <a href="http://dinardouchebags.blogspot.com/2013/10/shabibi-videos.html" target="_blank">Shabibi Videos</a>.<br />
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The "Delete the Zeros" project has been totally misrepresented by gurus. They want to convince dinar speculators that they will somehow benefit from this process. That's simply not true. It's a neutral event, and in fact there's a better than even chance that holding IQD when they delete the zeros will end up costing you. That's why this blog and others have been trying to warn people about the risk incurred in dinar speculation. The potential for profit is minimal and the potential for loss is enormous. <br />
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I will conclude with a quote from the September 2012 indictment of Brad Huebner and Rudolph Coenen for dinar fraud.<br />
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<strong>"A "redenomination" of the dinar refers to an actual proposal by the Central Bank of Iraq, announced as recently as June 21, 2011, to re-print the currency to remove three zeroes from the physical dinar banknotes as a matter of convenience. A redenomination of the Iraqi currency would not lead to a revaluation by the same amount, and may have no effect on the currency's value. Under a redenomination, a new currency replaces an old currency, but the value remains the same."</strong><br />
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<a href="http://www.realscam.com/attachments/f12/1576d1348185792-bayshore-capital-investments-bh-group-bhgroup_indictment.pdf" target="_blank">http://www.realscam.com/attachments/f12/1576d1348185792-bayshore-capital-investments-bh-group-bhgroup_indictment.pdf</a> (article 8 page 3)<br />
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<br />Unknownnoreply@blogger.com14