Dinar Daily and TNTBS

Over the years I have seen several dinar forums that allowed and even encouraged openPonee discussion of the dinar investment – lop and all – to their members, but most of those have long since shut down as the forum owner saw the light and moved on.  There is one such site however, that has kept its lights on.  That site is Dinar Daily (www.dinardaily.net).  The site owner Ponee has turned the original home of Okie Oilman into a haven for guru busters.

When I closed down my blog a year ago, one of my devotees who goes by the handle TNTBS took up the cause and went after the likes of DC (TNT Tony’s intel guy) and Dinar Recaps, in addition to dogging Tony all the way to prison.

TNTBSTime and guru fatigue have taken their toll on the dinar community, and they have become increasingly fed up with the lies, obfuscations, distractions, and otherwise disgusting behavior of the devious dinar dirtbags posing as experts.  As a result, more and more people are taking up the cause of outing these jerks and exposing their lies.

In the coming weeks and months I think you can expect to see more gurus opposed, exposed, and deposed as the RV scam encounters its final death throes.  TNTBS is in the process of launching his new site, which will keep you up to date on his success in making life miserable for the scammers.  That site is www.tntbs.net.  Iraq Currency Watch and Dinar Daily will be working alongside of him and the other guru busters as we continue to shine the light of truth into the darkness of the dinar world.



The Next Great Currency Scam (Mike Rothschild)

Over the past year, I’ve written quite a bit about the Iraqi dinar, the foreign currency that many self-appointed “gurus” try to convince buyers will suddenly “revalue” from being one of the most worthless currencies in the world to one of the most valuable. Dinar brokers sells bundles of the dinar that you can only buy in cash directly from Iraq, then you sit on it and wait for the Iraqi government (or President Obama, or the IMF, or whatever) to pull the trigger on boosting it hundreds of thousands of percent in value.

It doesn’t take a degree in finance to tell you that this is false. Many actual financial experts have debunked the myth of the Iraqi dinar “RV,” and while gurus have been promising for years that the magical day where millions of dinars turn into millions of dollars was right around the corner, it’s not, it never has been and it never will be. Iraq’s economy is nowhere near being able to support an electronically traded currency with serious value, and it might be a decade or more before that happens.

Fortunately, the dinar scam looks like it’s finally abating. There are numerous, well-written pieces by people at Forbes, Business Insider and others presenting well-researched and logical information about why the dinar is about as worthwhile an investment as magic beans.

The Vietnamese dong

Not only that, but law enforcement is starting to crack down on dinar brokers who exploit a loophole in currency law to sell cash as a collectable. Of the four dinar websites I mentioned in the piece, one, Sterling Currency Group has been raided by the FBI and shut down, while Bet on Iraq is now a dead link. Additionally, one of the most vocal dinar gurus, Anthony “TNT Tony” Renfrow, recently pled guilty to wire fraud in relation to a different prosperity scam – one that used many of the same techniques as the dinar.

But just as scams like the “Omega Trust” and NESARA begat the dinar scam, it’s only a matter of time before the resources put into selling and pimping this worthless currency is put toward selling and pimping some other worthless currency. Which one will it be? Here a few different national currencies to be on the lookout for as the next great money scam:

Vietnamese dong
If there’s one other currency that dinar gurus love to sell along with the dinar, it’s the dong. Vietnam has a complex history when it comes to currency, one intertwined with the fractured history of the country. Both North and South Vietnam issued their own currency, both called the dong, in the 1950s. When Vietnam was united by the communist insurgency in 1975, the dong was also unified. It went through several redenominations, lopping zeroes off the inflated exchange rate with old currency exchanged for new. For decades, Vietnam struggled with inflation, counterfeiting, and the dong’s lack of value against other currencies.

Finally, in 2003, Vietnam introduced new notes that were harder to counterfeit, and it developed a new banking system designed to handle large transactions.

Even with all of these reforms, the dong is one of the most, if not the most, worthless currencies in the world. It currently trades for around 21800 to one dollar, and only in cash, not electronically. Like the dinar, you can buy them in cash from brokers working under the “money service business” loophole. Like the dinar, the dong is massively overprinted. And like the dinar, they take a massive cut, usually charging between 20 to 25% more than the value of what you’re getting. And finally, like the dinar, the dong has lost value in the past year, as it traded at 21175 to one dollar one year ago. Dongs are becoming less valuable, not more.

But that doesn’t stop “gurus” from hyping them as the next great currency to rise when the “global currency reset” happens. They seize on minor details, like some US banks carrying dong to exchange for dollars. But there’s a simple reason for this – more and more Americans are traveling to southeast Asia, including Vietnam. While dollars are accepted, shopkeepers will usually round their prices up when dealing with dollars, making items more expensive than using the local currency. It’s not part of any massive currency reset, it’s just tourism.

The dong is a viable currency to buy if you’re going to Vietnam. Other than that, it’s useless as an investment. The Vietnamese government might attempt to redenominate it again, but as we’ve discussed with the dinar, redenomination is not the same as revaluing – one is a real and legitimate technique to bring down inflation, the other is pie in the sky nonsense.

Stacks of Indonesian rupiah

Indonesian rupiah
The rupiah is the currency of Indonesia, and while its pimping and selling are not quite at the level of the dinar or dong, don’t be shocked if it gets there. Way back in 1949, when Indonesia first gained independence, the rupiah traded for about 3.8 to one dollar. But hyperinflation hit almost immediately, and soon price controls had to be introduced. In the 70s, the rate was about 415 to the dollar, dropping even further going into the 80s. Despite Indonesia having a strong economy, the rupiah continued to drop in value, and crashed completely in August 1997.

In 2015, there was something of a gain, as money flowed into the country before its presidential election. But post-election, the rupiah crashed again, and hit a low of 13,000 to the dollar. Compare this to their value a year ago, which was 11710, and you have another currency that would have lost you much of your investment.

The country had vowed to redenominate the rupiah, but put that on hold while its economy stabilizes. In the meantime, unless you’re an experienced foreign currency trader (and chances are if you’re reading this, you’re not), stay away from the rupiah.

The infamous Zimbabwean 100 trillion dollar note

Zimbabwean dollar
Everyone likes a big number, and the bigger, the better. So it made news when Zimbabwae, hit with crippling inflation, introduced a 100 trillion dollar note, it made international headlines. It was also the beginning of the end for the currency, as in 2009, Zimbabwe announced they’d be phasing out their currency altogether, and relying on foreign currencies like the US dollar. The zim will become completely demonetized by the end of 2015, though there are unwelcome rumors that the country is experimenting with printing new (most likely much lower) denominations.

At this point, Zimbabwean dollars are worthwhile only as collector’s items. They literally are about to have no value as actual money, and the country is attempting to get the last notes out of circulation. This admittedly makes those 100 bazillion dollar notes valuable, and the highest ones go for around 20-25 bucks on eBay. But even then, the market is flooded with them. You’re not going to get rich off any money coming out of Zimbabwae. Nobody ever has.

Something else
The Chinese yuan, South Korean won, and various other Asian and Middle Eastern currencies are also mentioned as being the “next currency” to be revalued, despite nothing being the previous one. Chances are, it won’t happen, for both simple and complex reasons.

As always, be skeptical of anyone touting the benefits of buying large amounts of a cheap currency with lofty promises for the future. They’re almost certainly not true.

About Mike Rothschild

Mike Rothschild is a writer and editor based in Pasadena. He writes about scams, conspiracy theories, hoaxes and pop culture fads. He’s also a playwright and screenwriter. Follow him on Twitter at twitter.com/rothschildmd.


Rod-as-Sam sm


Podcast 4 – “Sam I Am” part 3

podcast 7Well now, all my cards are on the table with this latest podcast. At this point you should see that Sam is in the process of bringing his archives over. You should also see a new post from him on occasion. He has freedom to write about anything he wants to say. We are now equal partners in Iraq Currency Watch and now this is just as much his blog as it is mine. I think the merging of our two sites is a great mix. Hopefully many of Sam’s readers will be pleased with the results.

So now I give the invitation to all of Sam’s readers to subscribe. Actually, anyone who wants to can subscribe by clicking  the follow Iraq Currency Watch blue button to the right. By subscribing you will be informed whenever a new post or podcast is posted. Any email address that is provided is kept confidential and you will never receive advertisements! You will only be notified when Sam and I release a post or a podcast. You can also remove yourself from the list at any given time. Many great things are coming to Iraq Currency Watch. So if you enjoy the content you should join the hundreds of people who have already subscribed. It does not cost you anything to do this.

podcast 4When I initially interviewed Sam for the Podcast we had 3 segments which became massive. So I decided to make each segment a separate podcast. I already posted the first two podcasts in my last post. Now we are releasing part 3. Some more surprises await.

Just a note of clarification, I could not remember the name of the document the government served SCG. I called it a consumer complaint when it fact it was a civil complaint. I am sorry about the confusion.

Our Friend TNTBS

Sam’s blog identified many of the people who were lying about this investment. This was the reason for his identity. Since his site has closed down others have taken on his cause. Below you will see a video from our friend TNTBS. Much of this information is based on Sam’s research. He also adds his own research into the mix. TNTBS presents this information in an entertaining and amusing approach.

Podcast Notes

Defending  The Faith





Jew and Greek








cropped-06-gcr-mockup6.jpgThe Truth About The Coming Global Currency Reset


Podcast 2 and 3 – “Sam I Am” Interview

Podcast 1In the last Podcast I mentioned that I was going to interview Sam I Am. Sam had one of the most popular anti-dinar blogs on the internet. He closed his site down in the spring of 2015. Now he is having a tell all interview with me. How exciting!

SamTypically on a Podcast I will have 3 segments. I typed about 17 questions down in a Microsoft Word document. I was hoping to have enough material for all 3 segments. As it turns out I recorded 3 separate segments. We talked for 3 hours and I only got to ask a few questions from the word document. We discussed many things from our dinar years. I decided to divide each segment into a totally separate podcast. So without further ado here is the first Podcast with Sam i Am

Sam I Am – Part 1

podcast 2We had a lot of fun reminiscing about dinar days of old. As we talked about some of the people who shaped the dinar community we had a few good laughs over  the stories of what some of these guys said and did. So I am going to share the second part of the interview with Sam I Am. You will find the third podcast for this site below. There is one more segment after this but I will release it in another post. Between part 1 above and part 2 below you should get a pretty good background about Sam and his experience with the dinar.

Sam I Am – Part 2

So if you listened to both of these podcasts then you found out a lot of secrets about the dinar community. You also found out what is in store for this site. Some great changes are coming. I hope you find these podcasts entertaining. Thank you for taking the time to listen!

Podcast 1 The Dinar Scam

podcast 2Podcast Description

Welcome to the first podcast for Iraq Currency Watch. This first podcast is more of an experiment. I am learning as I go so please be patient. Your feedback in the comment area will be most helpful. I have listened to several different podcasts to get an idea as to how to do this. In this podcast I review a brief history of Iraq Currency Watch. I also reveal new information regarding Sam I am. We also go over a valuable new resource that I think many people will find useful. The best thing about this resource is the fact that it is absolutely 100 percent free. I think many people will benefit from this. I hope you enjoy the first podcast from Iraq Currency Watch.

Podcast Notes

Podcast 1In this area you will find the things referenced in the Podcast. First and foremost are the first videos I made regarding Kodi. They are listed below. The first video covers downloading and installing. the rest of the videos deal with customizing and configuring Kodi.

Check The YouTube channel  Building A Multimedia Center for more information

From the TV show called Front Line, The episode called Losing Iraq can be found below. Just click on it.

Losing Iraq

Thank You for listening to the first Podcast from Iraq Currency Watch.

Sam I Am

SamRecently I was able to connect with Sam I Am. He used to run a blog site called Dinar Douchebags. He exposed a lot of the hype regarding this so-called investment. He also researched and discovered the identities of many dinar gurus. These people did not want anyone to know who they were.

Sam not only revealed their identities but he exposed some of their past as well. Over time his blog received a huge following and he had a loyal fan base that read his posts. I was one of his fans as well. In my opinion he had one of the best dinar blogs on the internet. Then one day he decided to shut everything down and move on with his life.

Some of the same people that read my site also read Sam’s site. His readers are well informed and they made great arguments for any guru who would wander into the comment area. These guys are sharp, very bright and well informed readers.

So it was a sad day when Sam shut down his site. I understand the reasons and the need to move on. But Sam did a lot more than provide truth. He did a lot more then exposing liars. Sam was able to provide therapy to the many victims of this cruel hoax called the Iraqi dinar. His blog site assisted and helped people to move on and to put the dinar behind them.

Recently I was able to contact Sam and I sent him some questions. He answered the questions and sent them back to me. He interviewed me twice. I thought it was high time that I returned the favor. So without further ado here is the interview.

Questions for Sam I am

1.       I know that at one time you were a dinar investor. How long did you hold dinar?

I bought my first order in Feb. 2010 and my last in Oct. 2010, and a couple more in between.  I sold off all but 100,000 or so in 2011 & 2012.

2.       What were the main things you believed about the Revalue?

Well, I was always a bit skeptical, but I got caught up in the mania.  I guess the thing that got me to really believe in it was the stories about people making big money with Germany and Kuwait’s currency, although I also fell for the gurus’ explanation about “removing three zeros means pulling in the larger notes so that they can raise the value”.  None of that was true, of course.  Lies!  All lies!!!

3.       Describe the moment that the lights came on? When did you realize that this was not going to happen?

It was a process.  I found out the truth about their money supply and Executive Order 13303 and things like that, but the one critical moment where my heart sank was when I read Wikipedia’s article about redenomination.  It said that it’s sometimes called “cutting the zeros”, which I realized was exactly what the CBI was talking about.  That’s when I realized that their currency reform plan was a redenomination and that the gurus were either wrong or lying.

4.       Why did you choose the name Sam I am as your screen name?

I really don’t remember.  Maybe it’s because I wanted to feed people something that they didn’t want, like the truth.

5.       What are some of the things you learned from the dinar scam?

Wow!  I really learned a lot.  Where do I start?  I learned not to invest in something without taking the time to understand it.  I learned a lot about currency, more than I wanted to know.  I learned about how easily manipulated people are, including myself.  I learned how widespread investment scams are, and how hard it is to convince people that they’ve been duped.  And then there’s the non-investment stuff.  I learned about blogging.  I learned about this whole conspiracy theory driven patriot movement that I never knew about.  And I learned some things about the law, too.  It was a real all-around education that only cost me the $1200 or so that I lost on the dinar, and I made that up and more with my blog.

6.       What are some of the things you learned from owning your own blog?

Blogging is pretty cool.  I enjoy writing and researching.  Now I’m going beyond where I was with the dinar and learning about CMS (Content Management Systems) and WordPress stuff.  With the DB blog I learned the power of the press, and citizen journalism.  I was just one guy (until you and a couple others came along) against all of the pumpers, dealers, gurus, scammers … etc.  I learned some things about internet marketing which enabled me to get my search engine ranking high enough to where people had to run the gauntlet so to speak in order to visit the scammer sites.  One person can make a difference.  That was a powerful revelation.

7.       What is your system for finding someone’s identity?

I’ll never tell!  LOL!  Actually it’s not that complicated.  It’s just time consuming.  The first thing you need to know is how to do advanced keyword searches to filter out the results you don’t want.  For example, if you want to know about where an accountant named Jorge Schwartz lived in 2009 you would type “Jorge Schwartz”, accountant, and 2009 into the search engine.  The quotation marks will eliminate all of the Jorge’s without “Schwartz” as a last name and all of the Schwartz’s without “Jorge” as a first name.  If you get too many results with the wrong years you could add -2015, -2014, -2013 … etc. to eliminate the years you don’t want.  Then you just go through whatever forums or posts associated with the person until you find some clues, and use those clues in your searches.  Sometimes I would listen to hours of conference calls just to find out what I could about the person I was investigating.  Sometimes people would send me stuff, which really made things easier.  Again, that’s the power of the press.  Once you’ve made your work known it kind of takes on a life of its own.

8.       What are some of the tools you use to conduct your research?

Google, Google cache, Wayback Machine (archive.org), Website Outlook, court records, people finders, WhoIs, AnyWho … basically anything and everything.

9.       What would you say to those who have supported you and your blog?

Thank you, Thank you, Thank you.  I couldn’t have had the impact I had without a community spreading the word, because the dinar sites wouldn’t allow links to my blog.  I would also say you were on the right side of history.  The extent of the fraud and the damage is now becoming very clear to most dinarians, and when it’s all said and done you can hold your head high while others are ashamed, embarrassed, or running for cover.

10.   What would you say is the most personal bizarre dinar story you have heard so far?

That’s like saying who is the strangest person in California!  The whole thing was a venture into the bizarre.  I guess what comes to mind first though, is the group hanging out somewhere in Reno, Nevada waiting on the RV, and then everything changed and they waited around for the GCR (Global Currency Reset) and their 800 numbers with their NDA’s (non-disclosure agreements) which prevented them from discussing anything with friends and family back home.  Some were there for over a year back in 2013.  For all I know they’re still there.


I would like to take this time to announce that starting with the next post I will begin to insert a Podcast into each post. These Podcasts will discuss global economics, and they will hit on the dinar. I believe that we are near the end of this thing. If that is the case then we are about to see who is right and who is wrong. We will see how the government deals with those responsible for ruining a lot of lives. I want to be able to talk about that in detail if for no other reason to say I told you so! Na not really…. Well maybe a little.

I want to insert personal observations about this whole mess we call the Iraqi dinar. Regarding that subject I have been hard at work on a new book about the dinar. This book will be available to everyone and the price will be free of charge. More details will come and you will be able to get the book at Amazon, Smashwords and other eBook merchants. More information about the book will be available soon.

The End Is Near

Lately I have seen a few people predict that the end of this dinar investment was near. I saw this as I was cruising through some of the dinar forums this week. Although they may be talking about a revalue, I believe the end is going to be something completely different. Who knows, maybe the end is near. The end has been near for the past 10 years. So at this point, it is hard to tell.

Apparently September or October is supposed to be the time that everything will change. Maybe in November I will write about how wrong these guys are yet again. If people have not figured this out by now then I don’t know what it will take. There is no Iraqi dinar revalue and there is no global currency reset. Even in spite of all the evidence I put out there, people have yet to refute many of the main points I have made.

Time For Some Changes

I really needed to update this site. The changes are long overdue. The old look and feel was not html 5 code. It would not configure to mobile devices like iPads, cell phones and tablets. The new look and feel of this site will now configure to any mobile device. It has modern and updated code. That is the main reason for the new look and design for Iraq Currency Watch.

Questions about article 32

Lately I have been getting some feedback about a post I wrote a while back. In the post I said that according to Iraq’s currency laws (especially section 32) that the Iraqi dinar was only intended to be used in Iraq. Some people have disagreed with that analysis. I have also said that the Federal Government claims that the dinar is illegal to export and bring to the states. So for the sake of clarification allow me to expand on this.

So far there have been 4 main cases brought against dinar dealers. With each conviction, indictment, or civil complaint the government has exposed many of the lies that have been floating around in the dinar community for years. Please note that I am not saying that the dinar is illegal to export and import, Departments of the Federal Government made this claim with its prosecution of dinar dealers. Let me go into a little more detail.

1. The first conviction was made against a man by the name of David Olmsted, aka Dale Cooper Jr. This is what was said about the dinar from The Department of Homeland Security and U.S. Customs.

“According to court documents, Olmsted arranged for shipments of Iraqi dinars, the country’s currency, to be sent from the country of Jordan to the United States in split shipments in February 2011. He had previously been federally licensed to conduct foreign currency transactions in 2004 and 2006, but his license lapsed in 2008. Also, importing Iraqi currency is against federal law.”


2. The Second set of convictions was against the B.H. Group. Many lies were exposed in this conviction. This is directly from the indictment.

The “BH Group” was formed by BRADFORD HUEBNER to market and sell the Iraqi official currency, the “dinar,” to individuals as an investment.

BRADFORD HUEBNER filed paperwork registering the BH Group as a money service business specializing in the sale of Iraqi dinar.

14. BRADFORD HUEBNER, RUDOLPH COENEN, CHARLES EMMENECKER, and MICHAEL TEADT often discussed during weekly telephone conference calls with potential investors, Executive Order 13303 which they alleged to protect the right of U.S. citizens who invest in Iraqi dinar currency. In fact, Executive Order 13303 protects assets of the Development Fund of lraq (DFI) and other Iraqi assets from legal attachments or liens. The Coalition Provisional Authority created the DFI in 2003 in order to promote the transparent use of Iraqi funds for purposes benefiting the people of lraq. Any assertion that Executive Order 13303 promotes, protects, or regulates the sale of, or investment in, Iraqi dinar is false.

15. BRADFORD HUEBNER, RUDOLPH COENEN, CHARLES EMMENECKER, and MICHAEL TEADT often discussed during weekly telephone conference calls with potential investors, the U.S. Department of the Treasury holding the Iraqi dinar, further alleging the Department of the Treasury held trillions of lraqi dinar for investment purposes. In fact, the U.S. Department of the Treasury does not hold any Iraqi dinar for investment purposes and holds only a nominal amount for use in daily operations. It was further the purpose and object of the conspiracy that BRADFORD HUEBNER,

Download the indictment using the link below


3. A civil complaint was also filed against Sterling Currency Group. Some of the Details are found here.


Here we find out that dealers and even some pumpers knew that the dinar will never revalue. According to the indictment they sold this worthless paper anyway. The government has been watching them since 2010.

“Email communications between Rhame, J.Shaw, C.Shaw, and Bell confirm that these individuals know that the concept of the dinar revaluation is a scam.

“Sterling has knowingly benefitted from false representations made by web sites and blogs, including “The GET Team.”

“26.Thereafter, beginning at least as early as 2011, Sterling began making monthly payments in the amount of $4,000 to TerryK.  In total, Sterling has paid TerryK more than $150,000 since 2011.”

Not only did certain dinar dealers know that the dinar would not revalue, but for the first time we can now see that pumpers are on the payroll.

Check out the video in the link below from channel 11 News. It is an updated story that takes place about a week after the bust on SCG


At the same time the raid was conducted on SCG another raid was carried out in Puerto Rico by the FBI.

“The raid conducted by the Federal Bureau of Investigation during the morning in a business that sells dinars, located on Roosevelt, Hato Rey Avenue, is related to a fraud investigation,”

“FBI agents, accompanied by the IRS and police officers in Puerto Rico, arrived at about 7:00 am at the offices of Internet Management Mendez. Quinones explained that could be there until noon.

He said that, in general, in raids seeking documents and computers.”


I am sure as time goes on we will learn more about these raids. It may take a while.

There Has Been Yet Another Legal Action Taken By Authorities!





The point I am trying to make is simple. Apparently the government has been watching the dinar dealers and the pumper networks as early as 2010. Just read through some of the cases. They have been gathering evidence the entire time. They probably have records on every dealer. Maybe the prophecy is right. Maybe we are at the end of this thing. But it won’t end as investors suspect. It may very well end with a lot of people going to jail. I really don’t know what the outcome will be. Everyone under indictment is innocent until they are proven guilty, but to watch this whole thing implode has been at the very least interesting. This is not just one group of people selling dinar.

Iraq’s Currency Laws

Section 32 says this

Article 32 – Issuance of Currency.

1. The CBI shall have the exclusive right to issue banknotes and coins INTENDED for CIRCULATION in Iraq. Banknotes issued under this Article shall be the first charge on the assets of the CBI. The CBI shall make appropriate arrangements for the issue of its banknotes and coins for circulation in Iraq. Banknotes and coins issued by the CBI and intended for circulation in Iraq are not: promissory Notes, Bills of Exchange, or any other type of commercial document under the applicable commercial law, and the CBI is obligated to honor them only as provided for in this Law.

2. Only banknotes and coins issued by the CBI that have not been demonetized shall be legal tender in Iraq.

3. The CBI shall be responsible for the supply of Iraq’s banknotes and coins and shall endeavor to maintain the availability of an adequate number of banknotes and coins in all regions at all times.


Intended for use basically means circulation or currency. That is currency used to conduct commerce. The currency is not supposed to be used outside of Iraq for the purpose of conducting exchange for goods and services. It is only meant to be used in Iraq for this purpose. People have been using the currency as an investment. This is not the intended use for the dinar.

Sure the currency is exported, all currencies are exported. The reason for this is so people can convert dollars to whatever currency they need in preparation for their visit to that country. The dinar is only supposed to be used as a medium of exchange in Iraq.

Article 32 section 3 declares that Iraq has the responsibility to keep a reasonable amount of currency in country for exchange.

 ARTICLE 34 – Withdrawal of unfit banknotes and coins

1. Banknotes and coins in circulation that are unfit for circulation shall cease to be legal tender. Subject to paragraph (2) of this article, the CBI shall withdraw, destroy, and replace, with banknotes or coins of an equivalent amount, any banknotes or coins presented to it that are unfit for circulation.

2. The CBI may decide to redeem banknotes and coins by issuing, free of charge, other banknotes or coins in equivalent amounts. A decision to redeem banknotes and coins shall be issued in the form of a regulation of the CBI specifying the period during which the exchange shall take place and the locations and times at which withdrawn banknotes and coins shall be presented for redemption.

3. The CBI shall not be required to provide any compensation for banknotes and coins that were lost, stolen, or destroyed: it may confiscate without compensation any banknotes that have been altered in their external appearance, including particular banknotes that have been written on, painted on, overprinted, stamped, or perforated, or to which adhesive matter has been applied.

Here we see that the CBI (Central Bank of Iraq) is responsible for maintaining the currency. Any damaged notes will be replaced and according to articles 32 and 34 the CBI must maintain a reasonable supply of currency. This means as the currency is exported it must be replaced. The CBI will release more into circulation to maintain the supply. This is the exact reason that the currency supply outside of banks has been increasing ever since 2004! Today there are well over 35 trillion dinar outside of the banks in Iraq. There are several trillion dinar outside of the country. I would say most of that is outside the borders of Iraq.

 ARTICLE 35 – Disposition of Currency

1. The CBI may decide to redeem banknotes and coins by issuing, free of charge, other banknotes or coins in equivalent amounts. A decision to redeem banknotes and coins shall be issued in the form of a regulation of the CBI specifying thew period during which the exchange shall take place and the locations and times at which withdrawn banknotes and coins shall be presented for redemption.

2. At the end of the exchange period, or at any other time specified by the CBI, redeemed banknotes and coins shall be demonetized and cease to be legal tender.

3. The CBI shall notify the public, by publication in the official publication, of the banknotes and coins that are legal tender.

Here we can see the redenomination language. Article 35 talks about the right to redenominate or replace currency. They are not required to honor currency outside their borders because article 32 states “INTENDED for CIRCULATION in IRAQ.” They can claim that the currency is intended to only be used in Iraq and that they will not honor currency that was illegally sent outside of their borders.

They may claim that using the currency as an investment is against the intended use of the currency. They will cite the costs of maintaining a currency supply. The amount of costs used to replace currency that was exported will be a central argument and they will site article 32 of these laws.

If you don’t think that can happen then I would suggest you revisit the events that unfolded in 1992 and 1993. Here we see a history where the country encouraged people outside of their borders to invest in their currency on one hand then they closed the borders and invalidated the currency outside their borders after the bulk of the investments were made. They cited currency laws and they said their enemies tried to destroy them through investing in their currency. This is where the Swiss dinar came from!

Don’t take my word for any of this! Do your own research! The following links should get you started.




So the big question here is this, Will history repeat and will the same thing happen that happened in 1993? Maybe the end is near, but chances are that won’t be a good thing for the investors or the dealers.

The other important point is that within Iraq’s foreign investment laws their Currency is exempt. Let me quote from a document from America’s foreign embassy in Iraq.

“NIL’s provisions should provide an open investment regime for foreign investors. However, the NIL does not permit foreign investors to own land, though they may lease (for 50 years, renewable). It also does not cover investments in the oil, banking and insurance sectors. (A copy of the National Investment Law can be obtained from the U.S. Department of Commerce Iraq Task Force website – http://www.export.gov/iraq/.)”

“Banks may engage in spot transactions in any currency, but are not allowed to engage in forward transactions in Iraqi Dinar for speculative purposes”.

“Article 27 of the NIL, which details the rights of Iraqis and foreigners with respect to Iraqi law, refers to dispute resolution. However, the absence of implementing regulation makes application of the law uncertain in practice”.

The Book

cropped-06-gcr-mockup6.jpgThe Price of my Book “The Truth About The Coming Global Currency Reset” has been lowered to $2.99. for a limited time. You should see the new price shortly. If you want to know the basics about economics and why the dinar can’t possibly revalue then this is a good place to start.

If you still don’t want to purchase the book then no worries. Over half of the information in that book can be found at my other blog called BVAWE. Here are two links that will provide much of the information in the book. Click on links within those articles to continue reading the information. There are some things in the book that are not found on the blog. But if you are just after the basic information then you can start here. This represents 4 years of research.




 Disclaimer- Comments will be held for moderation due to the ongoing investigation and the legal matters at hand. No comment about Dinar Corp or Sterling Currency Group will be approved or allowed. These companies are innocent until proven guilty and any perceived wrong doing will not be posted. We need to wait until the outcomes of any and all civil or criminal trials are over. This is for personal liability reasons.

You may comment on anything else regarding this investment but no accusations or name calling will be allowed regarding these two groups. Please be civil.