Where do we go from Here?
That is a good question. So what now? I would like to move on with my life. Eventually I would like to finish with the dinar all together. I feel a sense of obligation to my readers. I need to let them know exactly what to expect and exactly what I believe is about to unfold. I probably will only post about this a one more time. I will leave the site up as an archive so people have what they need to combat anyone telling lies to make a buck. You pumpers know who you are! Don’t come on this site thinking you can get away with it because you will be NUKED! Too many people have too much invested and too much to lose. I won’t stand for anyone pumping here. You will be exposed!!
People had a hard time believing I sold all of my dinar. In fact, I get asked all the time did you really do that? Now that is the most asked question followed by, How much did you have? Then its, how much money did you lose?
I do think it is a good idea to count the cost. What did I lose? I had a total of 3 million 650 thousand dinar. I paid 1070 per million. I sold it all for 900 per million. I sold it back to a dinar dealer. I lost a little over $500.00. I also lost two years of my life following this investment. I spent long hours away from my family. I just knew that any minute I would be rich. I was really gung-ho! This is probably why so many people find it hard to believe I sold everything.
What did I gain? While I did not make any money I gained a great deal of things. For one I gained an education about currency and how it works. I gained an education about economics that most people don’t have simply because they don’t care. People don’t venture to far away from their life to learn something about which they have no interest. It was the carrot dangling on the end of a dinar stick that caused me to learn what I know today. If it was not for the dinar, I would still be clueless about money and economics.
I gained a great deal of good friends. I found that for the most part people who have invested in this are really good people. They don’t know they are being scammed. They tend to be responsible and accountable. They tend to carry more of a burden in life and they tend to be very giving in nature. I made some great friends as a result of this.
I gained knowledge of the internet. I learned about blogging and websites and search engines and stuff I really did not want to know about. (thank you carrot on a dinar stick) I only learned that stuff to spread the word about the dinar. Now everything I have learned I can apply to my music. It will come in handy when I develop my music site. This was something I was going to do after the dinar revalued. Not a bad haul for 500 bucks. I returned to the life I had before the dinar. I appreciate it a whole lot more too! I am reminded of a line in the movie, Shaw Shank Redemption. Get busy living or get busy dying.
What is going on with the dinar?
To understand the answer to this question we got to talk about two things.
1. Government in turmoil,
We got to understand the power struggle going on in Iraq right now. We got to realize all the players and what they are after. I will cover this in the next post.
2. Follow the money,
Whenever you want to figure out why a politician, a government, or a social group does a certain thing you got to follow the financing. Who is providing the money and why. When you follow the money all kinds of answers and agendas come into view. So let’s follow the dinar in the rest of this post. How does the dinar get here to America?
Some people argue over whether or not it is illegal to own dinar. Some quote executive order 13303. Then there is this article.
Here is a small quote from this article.
“Iraqi Dinar and US Banks
The SOFA, or Status of Forces Agreement, was proposed in November 2008. The proposal is for the abolishment of the sale of the Iraqi Dinar by banks throughout the world, making the export of the Dinar illegal. The government of Iraq constantly notifies the banking institutions to stop the practice of selling the Iraqi currency.”
Even if this were true this agreement expired at the end of 2011 when all the troops were brought home. The question still remains if is it illegal like this article claims, how does the dinar get through customs? Back when I bought all of my dinar, I purchased it all from Dinar Trade. At that time you could still get dinar in some of the banks in my area. I went through dinar trade because they had the best rates.
Let’s go back and look at how things were set up when I bought my dinar. As far as I could tell most of the dinar coming to America came from the Bank of Ireland through a business they had set up called Foreign Currency Exchange.
The bank of Ireland got it from the Bank of Jordan. The bank of Jordan owns 49 percent of the National Bank of Iraq. (NBI) This was awarded to them after the invasion. Check out the Wiki Leaks document dated may 7th 2004.
2. (C) Ali K. Al-Husry, Chairman of the Board and CEO of the Export & Finance Bank (EFB), called on the Ambassador February 29 to detail a strategic partnership agreement EFB had signed January 4 with the National Bank of Iraq (NBI) whereby EFB acquired 49 percent of NBI’s paid up capital in return for USD 7.3 million. The agreement gave EFB management control of NBI, according to the bank’s proprietary chronology that Embassy is faxing to NEA/ARN (protect). Al-Husry said that the deal had been approved by the Central Bank of Iraq and also by the Central Bank of Jordan.
This is from 2003 and it explains the last Wiki Leaks Document.
2. (S) Marto made clear that in addition to issues regarding frozen Iraqi assets, he would like to discuss the status of the $1.4 billion in Central Bank of Jordan claims on the Iraqi Central Bank. He said that Jordan felt strongly that these claims were different from other government’s claims on Iraq and that they should not be lumped with other Iraqi government obligations dealt with by the Paris Club. In response to the question raised in para 4 of reftel, Marto confirmed that the Jordan National Bank, was heavily exposed to Iraqi trade and was in danger of financial collapse if its claims on Iraq were not covered.
Dinar flowed from the CBI to the Iraqi banks via the auctions, from NBI to Jordan, from Jordan to Ireland, From Ireland’s Foreign Currency Exchange to the banks and dealers in the US. The Dinar dealers had a network set up to move the currency. Some Sites hyped the currency to unsuspecting investors like you and me, and other sites sold the dinar. I believe these sites where working hand in hand with each other. More on that in a future post. Everyone is getting a cut. US dollars flowed from American citizens to the dealers, from the dealers to the bank of Jordan in most cases via Bank of Ireland, From the Bank of Jordan to the National Bank of Iraq, and from the NBI to the CBI Auctions where it was exchanged for dinar once again. Everyone gets their cut in this process
It is important to note that this is only one of the main paths dinar was brought to the US. By the year 2008 the Iraqi banks were doing great. All these US dollars were coming From American citizens. American Citizens were promised they would be made rich by the dinar dealers. The banks in Iraq were cleaning up. Check out this Wiki Leaks document. It is dated 2008
Fouad Mustafa, chairman of the Iraqi Private Banking Association and president Credit Bank of Iraq, told econoff on July 6 that private banks are growing and “doing well” in Iraq. In the past three years, the average capital of private banks in Iraq has grown from approximately USD 6 million to over USD 40 million.
The Credit Bank currently has about USD 500 million on its balance sheet and 10,000 customers. It adds new customers every month. All of its bank branches are connected electronically, allowing customers to deposit or withdraw funds from any branch.
By the time I heard about the dinar the banks were doing well, but Iraq’s progress had been slow. At that time Iraq ranked 152 out of 181 nations at the World Trade Center check out this wiki link. Here are a few observations
“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”.
“whether foreign investors will enjoy protection from expropriation that meets international standards will likely depend on domestic implementing legislation and/or future bilateral treaty obligations with investor states. The United States does not have a Bilateral Investment Treaty (BIT) with Iraq.”
“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”.
So by 2009 this was a well-oiled machine. Now we get to the Status Of Forces Agreement
Currency and foreign exchange
‘The United States Forces may not export Iraqi currency from Iraq, and shall take measures to ensure that members of the United States Forces, of the civilian component, and United States contractors and United States contractor employees do not export Iraqi currency from Iraq.”
This is part of what the first article posted was talking about. Dinar could only enter through the proper back door channels. It was only illegal to go outside the banking structure.
Something changed in May of 2011. Foreign Currency Exchanged was sold to Wells Fargo
09 May 2011
Bank of Ireland announces that it has agreed to sell its US based foreign currency business, Foreign Currency Exchange Corporation, Inc. (“FCE”) to Wells Fargo Bank N.A. (“Wells Fargo”).
This happens to be the same time Ali from Dinar trade closes up shop. This is also the same time the banks in my area stop selling dinar. When I sold my dinar a few weeks back none of the banks would exchange it. My brother down in Texas could not sell his dinar through any bank that had a foreign exchange service where he lived. He is in Dallas Texas. They knew of no currency place that would exchange it. Banks in my area that use to deal with it won’t even touch it now. No bank wants it. This to me was a big Red flag!
My options for getting rid of the dinar were now limited. I could sell it on eBay and try to break even, or I could sell it back to a dealer. I sold it back to safe dinar. I had my money in just a few days. They gave me 900 per million. Dealers need the dinar to sell to new people who are just learning about this investment. Dealers are still getting dinar from Jordan too. You can get dinar from Jordan. Look at this eBay auction
IRAQ NEW UNC IRAQI 50 DINARS X20 LOT 100,000 FREE SHIP 2000 PIECES
Item condition: Uncirculated
Ended: Apr 19, 201217:50:21 PDT
US $880.00 [ 0 bids ]
FREE Economy Shipping
Item location: JORDAN, Jordan
The dinar keeps coming in and the dealers buy it up and sell it to new investors. They also supply a sense of liquidity when somebody wants to get out. The US money now goes the other direction. It goes through Jordan, from there it goes to the NBI, from there it goes to the CBI auction and more dinars are sent out. Once again this is but one path. Shabibi released 6.5 trillion dinar in the month of March why? This is the way we wash the money, wash the money, wash the money!
Dinars come to the US and Dollars go to the Central Bank of Iraq! Everybody gets their cut in the process. The currency auctions buy more and more US dollars and the currency supply expands. It is important to note that this expansion is not a normal expansion due to the loan process or newly acquired debt. This is the base money supply expanding. This is much harder to contract and makes a Redenomination scenario much more plausible.
How will this all play out?
Please allow me to give you my opinion of the wiki Leaks documents I poured over. This is what I now think will happen. The currency supply will continue to expand because it keeps More US dollars coming into Iraq at a time when the dollar is getting scarce. Iraq will need to redenominate because of the supply. If they redenominate today they will take 69 trillion and make it about 69 billion dinars. Thus reducing the currency supply and raising the value. At the same time they will remove and delete the zeros!
When this happens people in the United States will not be able to go to the banks and trade in their dinar. At that time US citizens will have no legal recourse even on an international basis because of the lack of law. They will go to the dealers to try to trade out their dinar. The dealers will all be gone. They will close up shop and take their profits and cuts with them. They will be looking for the next con, or maybe they will just retire all together. The American people would have shipped anywhere from 500 million to 2 billion US dollars over to Iraq with no way to get it back. Once the transfer period expires and time runs out to trade in the new notes for the old Americans will be stuck holding a lot of worthless dinar paper.
And that is how the scam works! You will need to go to Iraq to trade in. the hard part will be getting through customs with a vast amount of dinar and getting to Iraq with no way to protect you or the dinar. Good luck with that.
I use to believe that the dinar itself is not a scam. There are just people running scams with a legitimate currency. After reading a ton of Wiki Leaks documents, I no longer believe that. I believe
31 thoughts on “Where do we go from here part 1”
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It’s a remarkable post designed for all the online visitors; they will get advantage from it I am sure.
You stated, “To control who the other half of the appointees are, you would have to influence the President.” The president is a puppet and does the bidding of those who place him in his position or else…research Lincoln’s Greenbacks and Kennedy’s Executive Order 11110. Although, I suppose it could be one of the greatest coincidences of all time that both of our assassinated presidents wanted the government to regain control of the money supply and remove the power from the bankers.
John F. Kennedy said these words in a speech shortly before his assassination, but he may also have just been a conspiracy theorist…
“For we are opposed around the world by a monolithic and ruthless conspiracy that relies on covert means for expanding its sphere of influence–on infiltration instead of invasion, on subversion instead of elections, on intimidation instead of free choice, on guerrillas by night instead of armies by day. It is a system which has conscripted vast human and material resources into the building of a tightly knit, highly efficient machine that combines military, diplomatic, intelligence, economic, scientific and political operations.”
Like a phoenix rising from the ashes, a favorite symbol of theirs, they plan to create their “new order of the ages” (see the back of the USD) out of the destruction of the old. Research the burning of London 1666 and why dragons guard all four corners of the “square mile”. The men who rule the world very much believe in Lucifer, even if you don’t. Seriously, research the “Crown” and the City of London Corporation. It should tie in nicely with “13 Bankers”. This “oligarchy” began long before the U.S.
As far as your statement, “I don’t believe in God or Lucifer. I see not the slightest evidence of their existence nor of any move toward world government.”, we will have to agree to disagree. I see evidence everywhere I look.
Just one point of clarification, when I said “evidence” I was referring to evidence which can stand up to scientific standards. i.e. the sort of thing we would want for evidence that a plane or drug is safe, that a device works, that an unseen particle exits.
The IMF and WTO, are run by their member nations, the EU is “run” (which I put in quotes as it has far less power over member countries then say the US Federal government has over states) also by its members. As we currently see the Eurozone is not really working out all that well in some respects.
Central banks are organized differently in different countries. In the US the Fed is run by its member banks and by governors appointed by the US President. The decision making committees of governors are about half and half from the branches and by Presidential appointment. The equity ownership of each member of a Fed branch is dependent on the size of the member bank, but each member bank only gets one vote so all members are treated equally as far as electing governors goes. So to exert some control over who half of the Fed governors are, any entity would have to own a controlling interest (say 30%) of 30% of all the member banks in each Fed region, which clearly is not the case. To control who the other half of the appointees are, you would have to influence the President. Ideas like (and I don’t know if you have this view) “the Rothschild’s own the Fed” is just nonsense.
I don’t believe in God or Lucifer. I see not the slightest evidence of their existence nor of any move toward world government. I do see oligarchies, particularly in finance in the US, and that indeed is a problem. But its not a conspiracy as such. Their goal is to make money and taking down the world economy would be terrible for them. I suggest reading “13 Bankers” which traces the US financial system (and the growth of the oligarchy) from Jackson’s time through the recently meltdown.
Issues around world government are not the intended subject Marcus has for his blog however so I’ll leave that subject at that.
Thanks for your prompt response. I am always open and willing to learn and will be the first to admit that there is alot I don’t know. What I will say, however, is the fact that the CBI has to be accountable to the WTO, IMF, and UN doesn’t exactly give me a warm and fuzzy feeling. I don’t know…maybe since the end goal and purpose of ALL these organizations is a one world government, which hearkens back to the days of Nimrod and the Tower of Babel.
At the end of the day, I am equally as comfortable having 1 million IQD put away as I am having 1 thousand USD. I do not believe the IQD will provide the windfall everyone was hoping for and your estimate of a future $650.00 value may be spot on, but then again, who’s to say the USD will retain it’s present value once the powers that be decide to knock over the game board? I’m betting that it won’t.
Back to my original question…who do think runs the central banks (or the WTO, IMF, and EU for that matter)? In other words, who was Andrew Jackson talking to when he said, “you are a den of vipers, and I intend to rout you out.”? I suspect he was talking to the modern day “money changers”, who currently rule the world and ultimately serve and do the bidding of Lucifer.
Of course, if one were to be inclined to dismiss everything I have stated as conspiracy theory, which is quite common, then studying all the numbers and facts you provided may prove to be more useful. As you stated, it’s up to you and I respect your opinion.
There are quite a lot of checks on the CBI’s figures. The only figures that matter really are M2 and reserves as that is what produces the exchange rate they can support (i.e. 60B USD / 70T IQD = roughly .00086 USD/IQD, the present exchange rate). Could this ratio be off by say a factor of 10 which would allow an RV to one penny? I don’t see how.
For M2 we can look at the M2 and the GDP of many other countries and we see M2 is usually about 75-80% of GDP. Even the outliers are maybe a M2 of only 50% or a few with 150%. This makes sense as if M2 is tiny compared to GDP the economy won’t have enough currency to function, no one will be able to get a loan or pay bills etc, there won’t be enough cash. So maybe M2 is only 60T instead of 70T, or maybe its even only 50T, but no way can it be only 7T. We know their GDP figures are roughly correct as 85% or so of their economy is oil and we know how much oil is being produced, checked by how much other entities are buying, etc.
Could reserves by vastly greater then specified? Where would they have come from? Again we know oil is the source and we know how much is being sold and how big the GOI budget is and there just has not been enough left over, over the past decade or so to have vast undeclared reserves. So like M2, might they have 70B USD instead of only 60B USD? sure, but no way can they have a secret stash of $700B USD. And if they did, they would be far better served by just spending it on themselves then to revalue their currency by 10x.
Further the CBI has been audited (and issued a qualified, not adverse report so its basically sound with a few minor issues), and has been under the scrutiny of the WTO, the IMF, the UN, and the UST and Iraq very much wants acceptance into that group which makes is seem very unlikely to me that they would be try to pull a fast one so to speak. Finally when banks or countries misreport things its usually that they underestimate liabilities and overestimate assets. So if the CBI figures are off by a bit, it seems more likely that M2 is a bit bigger then they say and maybe the reserves are a bit less. The street exchange rate for the IQD in Iraq being less then the CBI rate lends some support to this notion.
As far as riding it to the end thinking you don’t have much invested. I don’t really understand that view. An RV to even one penny is not possible. Its not unlikely, its impossible. Now you can get around $1000/M if you sell. Once they RD (and they might of course choose to delay) you will likely only be able to get $650 or so. To me there is no point in suffering a sure greater lose for no added gain. But of course up to you.
First of all, thank you, Marcus, for genuinely trying to inform others about what you have learned from your research. I am not saying I have any answers here (I personally plan to ride this thing out as I don’t have much invested anyway), but I find it hard to believe that after all the information available on the destructive and deceptive nature of the central banks/bankers that we should accept the CBI as a credible source of information. Granted, it may be the closest thing to “official” we have to go by, but if the mainstream media or government or especially the “money changers” start feeding me information and facts, I am a tad sceptical. And, I do know the rabbit hole goes deep, but I’ll bite…JMW, who do you think is really behind the central banks?
Yamandu Costa great player indeed, Brazilian I think. Did he play a seven string guitar? I bet it was a good show.
I considered your point and it is valid. As people try to not lose everything the dealers may trade it out. The banks won’t deal with it. What if Iraq won’t allow the currency to come back withing it’s boarders? That is a very likely scenario. If the dealers have no way to provide liquidity they will be gone. Most of the small time dealers will not be able to do this. That way Iraq won’t be liable for currency beyond it’s boarders. This is what I think will happen. Notice that Ali closes up 1 to 2 months before they announce the redenomination in June of 2011. Notice that it has been announced that it is postponed and he is opening up for business again. I think everything will depend on what Iraq will allow for the redenomination process. Why would Iraq put itself on the hook for the currency beyond it’s borders?
Yes Costa is Brazilian (but has lots of different influences in his music) and was playing a 7 string guitar, a band new one by Will Hamm he talked about it a little (they didn’t have a translator so a bit of difficulty here) mostly that it was the best guitar he has ever played (Hamm was in the audience and given a round of applause as well). He played for nearly 2 hrs and indeed it was a great show (only 700 seat theater). Amazing emotion and color in his music.
Its true Iraq could hinder exchange of dinar from outside their borders when they RD, but I don’t think its in their best interests. If they go with a ten year period where the IQD will be acceptable at a CBI branch, that gives a lot of time to find a way into the country. DinarBanker I think once said it gets its dinar from a bank in Kuwait, so there is legitimate bank to bank transfers going on now so cutting that off might make investors more warry than they already are (i.e. questioning if Iraq will make good on its commitments). If they were going to do the whole exchange in a few days I can see them closing the borders, but if the CBI will accept IQD for ten years I think its likely they will allow it to be brought back. If there is a legitimate method to bring IQD back then the dealers will be happy to profit on peoples desire to cash in for a loss, but if there is any question about it I’d expect them to run for cover and just fold up shop leaving folks stuck with wall paper. I’m very glad to be out of it.
John you may be right. I think it is interesting that I brought out in this article how a lot of dinar came through Jordan. Do you know the percentage of kuwaiti banks owned by Jordan? This again is in the wiki leaks docs. Not the ones I posted here but others I have read. When the Kuwaiti dinar was sold on the black market a lot of it was sold to Jordan banks. Jordan banks are the ones who made the most profit from kuwait. As it turns out they hold a high percentage of ownership in the kuwaiti banks according to some of the things I read in the wiki leaks,
I Just think it is interesting how all this connects together. In articles about Iraq’s redenomination I think they are looking at one to possibly two years. They are looking at turkeys model for redenomination. I think Turkey was 2 years. maybe it was one. can’t remember. Gogomez is right when she points out that most redenominations are between 6 and 7 months. We just got to wait and see what Iraq is going to do.
The big problem here is what John Jagerson points out in part 2. All dinar dealers are operating under a money service license like Western Union. However they have been marketing this as an investment. which is illegal. They don’t have a license for that. The civil Law suits and the anger that people will have torward these dealers will be huge. I think they would rather close up shop and not be found. This is because they will deal with all the legal claims. What good would it do for a dinar dealer to take all his profits and spend it all on Lawyers and legal issues?
Although……I would very much like to see this!!
Marcus, I agree with 99% of what you have posted, which is why I sold all my dinar earlier this year. I sold to individuals so I got ~$1050/M after costs, thus my loss was a smidgen less. Actually that was an interesting process as well since I talked to everyone I sold too and tried my best to talk them out of it. I only managed to convince one prospective buyer that this was not a good idea, all the others could not be dissuaded.
The one point I disagree on is that I think the dealers will remain to profit again from people cashing in their IQD when Iraq’s redenomination officially starts. Once the RD is official, that will for most I think signal the end of the 100,000% return dream and a lot will want to get out. Some may stay for a possible long term rise as Iraq’s GDP goes up, but that is pretty risky in my view as well. The dealers have a gross margin of about $350/million IQD by getting it in Iraq and selling it in the US. I expect that they can quite easily reverse the flow and with the IQD at $860/M they will offer $500-$600/M and make the same spread (i.e. there costs should be about the same no matter which way the currency is flowing). Over time the dealers will certainly fade away so by the end of the period where IQD are still exchangeable (maybe ten years) it likely will get increasingly hard to find a method to cash in without going to Iraq.
I went to see Yamandu Costa last night in SF. Wow! amazing performance.
John based on the research I have done, currency exchanges due to redenominations were only given 4 to 7 months and then it’s no longer tradeable.
My thought for selling my dinar was that I felt certain it was a scam, and dealers and pumpers profited from all these. However I thought that if we were following the money, it is favorable to Iraq to sell their Dinars to get dollars which is what they use anyway, so why would they ever want to exchange their money and give us back dollars? They can use the dollars in any country but their Dinars are not worth anything outside of Iraq!
When I was in the Czech Republic, they were very glad to exchange their money to get my dollars but I was told that I would not be able to trade back! I had Czech money left over after several trip to that country and I could not give it away….. I just left whatever I had on top of a table in the restaurant and just kept a few for souvenirs! And that’s trying to exchange the Czech money in their country!
I was just recently in the Bahamas, and the stores only used dollars. The Taxi driver was the only one who gave us change in Bahamian coins! Since the dollars still is somewhat of value, why trade it for something worthless! For them it’s a 1 to 1 exchange but they wanted dollars!
By the way, just for the reader’s info. They have contracted 3000 Chinese laborers to build an expensive resort to compete with Atlantis and as a gratitude gift, the Chinese built the Bahamians a sport’s Arena! (Whoopee doo!) The Bahamians would have certainly loved to be employed but Chinese labor is still cheaper! ……. Yes the Chinese laborers are using dollars….. probably glad to get rid of it!
Gogomez: I think the timer period for the old currency in redenominations varies significantly. The most far reaching or wide spread has to be the conversion to the Euro and many central banks will take their respective old currency in exchange even today. That a little different than exchanging currency on the street in other countries, where I have run into the same thing as far as being easier to sell your dollars than to buy them back. Though I have never had a problem going to a bank to do so (or just an exchange back in the US), a a lower rate usually. We won’t know until we see the formal plan from the CBI, but the articles have all said 1 year of co-existence in the market and them some years at CBI branches (or major banks or something). So again hard to say, but since I’m out of it, I don’t have to worry!
Thanks again Marcus…I always have enjoyed our interactions and only wish they could have been more frequent…I too believe that people holding dinar when it RD’s will be left out or have to pay a significant premium to a dealer in order to exchange for the new currency. Hopefully more and more people will continue to educate others so that they don’t become dependent on a big RV…as many already have. Curious…do you still believe the Rothchild’s are behind the central banks?…If you are I would enjoy showing you a different side to that argument!…all the best my friend…I’m sure you will be successful at whatever you put your mind to.
My view of the Rothschild dynasty is something I am going to address in post 5 the next post. It has change from my previous position. The purpose of bringing back Iraq Currency watch is to correct and change the things I said that I now believe are no longer true. All of this will be addressed in the next post. You should wait for that and comment in that post. Always good to hear from you JMW,
Talk to you soon
Geo mentioned going into this investment with eyes wide open. I have to say, that couldn’t be farther from the truth. Anyone with their eyes wide open wouldn’t get sucked into this “investment” in the first place. I speak from experience. Once you buy into all of the BS and the ridiculous rationalizations (easy to do when you don’t actually understand anything about currency) you get stuck. Most of us became really excited, felt like we were privy to a secret “limited opportunity” and just had to tell everyone we knew about it. Other people getting excited gets you more excited, and people scoffing at the idea just gives you more resolve to prove them wrong. But, if you can manage to actually pry the Dinar Goggles off and really look at things, I think it becomes easy to see the truth.
The old saying, If it’s too good to be true it probably is, didn’t become a cliche just because it’s cute. It has merit. And this is definitely one of those situations that is just too good to be true. Waaaaaaaaay too good to be true. Once you look at the facts that Marcus and others have pointed out, there is nothing about what the “Gurus” tell us that even makes sense.
I know on the dinar sites if you even say the word lop you usually get chastised and/or banished. But the lop is really the only scenario that even makes sense. And the chances of being able to exchange our dinar anywhere after the lop and the new currency is issued is highly unlikely. The only place that may actually exchange at that time would be your local international airport currency exchange. Maybe. And going to Iraq isn’t even an option. It’s nearly impossible to gain access to that country. It’s not like you can just buy a plane ticket and fly over for the weekend to exchange.
These “gurus” have the system wired. Okie has been at this for years and years! He’s notoriously known as a pumper. And he’s very good at it because people just keep following him and buying more dinar, only to hear him say it’s RV’d again and again and again with no truth to his statements whatsoever. (Gogomez, I would love a copy of the list of sites owned by dinar dealers!)
If you want to hang on to some “just in case” then go for it, but I think the smartest move is to sell what you have, take the partial loss, and invest in something real. That’s a lot better than taking a total loss when they re-denominate, which they will. No doubt about it.
Thanks Marcus for all of the research and for sharing it. I look forward to your next post.
I believe I sent you info on Dinar Banker and all his websites. I don’t see it now….. it’s possible Marcus removed it…… it was pretty extensive but he had about 10 or more sites.
I did not remove this. Don’t know what happened to the info. You are welcome to send it again. I am sorry if it is missing,
I will keep mine thank you, Marcus if you were so thight with money why did you buy in the first place. Because your finances are so tight $3000.00 don’t spoil it for some one else who got into this with eyes wide open , and not affraid to take a chance This was an investment, Don;t invest any more than you can lose, I’am not a pumper just a very sensible
Geo, many of us appreciate what Marcus has done. He had solidified what I also have found but not in the depth that he did. He is not spoiling it for anyone. You decide if you want to continue keeping the dinars hoping that it will RV. I came to the same conclusion that he has when I did my own research. I am selling my dinars not because I need the money, I am investing it in other things that are making money…. I may just keep some for souvenirs but I am investing in something that I know will be increasing, and have been doing so in the last 5 years!
If you go to some of the forums, and you read some of the comments people are saying now, you will see they are tired of the lies!
In the beginning, I believed the people on the conference calls telling me about the presidential order 13303. As far as I have read, there is nothing in it that is referring to the dinar, I am rereading it again ( and other materials I have downloaded ) while I am on vacation, so I can concentrate better on what I am reading.
I was also made to believe that the Dinar will RV like Kuwait. Kuwait’s situation is definitely different. Marcus has that link, and I have found that to be correct.
Here’s something else I found from a website “Economy Watch” under the Dinar Exchange Rate as I was following the money trail. The writer states:
Benefits of the New Iraqi Dinar
The new Iraqi Dinar was introduced in 2003 with a wider range of currency denominations. This
facilitates more convenient local transactions. The new currency is backed by the central
government. Moreover, the adoption of a new currency is better than dollarizing the previous
currency, since the latter would hurt the Iraqi economy, which depends largely on oil exports.
It is beneficial for the Iraqi economy to have a fixed currency that is local with a smaller dollar
As it states,the old dinars depended largely on the oil exports but the new currency is backed by the central government. And Shabibi said before an RV they have to control inflation. (See my previous post and link) And right now, the dinar is local. If it does not RV yet, and they delete the zeroes first in 2013, are the dealers going to exchange it? Looking back at the history of the Iraqi and Kuwait currency, they only gave people about 4 to 6 months to trade in the old money for new money. If the dealers don’t exchange it, then all the Dinarians will loose their money, unless they go to Iraq! Not me, I prefer to stay stateside, thank you……
Now, if it RVs first, like you hope it does, are you really sure the banks and dealers will exchange it? Some dealers say yes, the others don’t say anything about exchanging currencies. Gurus are saying they have bank packages that you can be a part of if you register or join them. Do you really think that will happen? Why would a bank want to give up dollars for Dinars that are only valuable in Iraq? Oh yes, they said all the Dinars will be turned in to the Department of the Treasury…. and then what? I don’t know…. there are just too many lose ends and questionable things going round and round in my mind?
Oh yes, by the way, the so called gurus also tell you not to call the banks and ask questions. Here an example I saw a few days ago……. I have friends who live and breath Dinar and send me the chats, which I mostly ignore. But this one is just another red flag….. lies, lies, lies!!!!!
BULLDOG AND MYSELF HAS JUST RECEIVED A REQUEST (VERY STRONGLY WORDED)
THAT WE SHOULD NOT ADDRESS ANY PERTINANT INTEL FROM THIS POINT FORWARD– BECAUSE–WE WERE TOLD THAT SOME OTHER (OTHER) SITES BECAUSE OF THEIR
SPECIFICITY WITH DETAILS HAS DELAYED THIS PREVIOUSLY FROM R/VING.
So what are they saying….. that because Dinarians are wanting to know more, or checking, or asking and other sites are restating…… whatever…. etc….. they are causing the RV from being delayed? I don’t think so….. I wasn’t born yesterday! (By the way, several of these dealers do own many sites….. I have a list owned by Dinar Banker, alone)
Here’s another thing I also researched……. (like I said, I have my own research about dinars…..)
I wanted to understand surrencies…… so….
What is a Highest-valued currency unit?
From Wikipedia, the free encyclopedia
The highest-valued currency unit is the currency in which a single unit buys the highest number
of any given other currency or the largest amount of a given good. Most commonly the
calculation is made against a major reserve currency such as the euro (EUR), the pound
sterling (GBP) or the United States dollar (USD).
A high-valued currency is distinct from a hard currency, which is a currency with a good buying
power [clarification needed] and which is widely accepted as a reliable store of value. For
example, a Kuwaiti dinar is not of very much use outside Kuwait, and is bound to the economy
of that country. It is in fact pegged to a basket of hard currencies. In contrast, the Japanese
yen is considered a hard currency even though the nominal rate of the dinar is more than 280
times that of the yen.
Based on this information, the Yen’s value is $1 = .01227 at this moment. But it is a tradeable currency and a hard currency. Some countries will accept it. I know the country I was from, accepts the Yen for payment. They don’t accept the Kuwaiti Dinar. What makes anyone so sure that the Iraqi Dinar will be concidered a hard currency. If not, then it is only good in Iraq! If the dealers are gone, then you are out of luck because the banks won’t trade it. There is no agreement with the US banks as Marcus stated above and I requote… and have rechecked…..
“Iraqi Dinar and US Banks
The SOFA, or Status of Forces Agreement, was proposed in November 2008. The proposal is
for the abolishment of the sale of the Iraqi Dinar by banks throughout the world, making the
export of the Dinar illegal. The government of Iraq constantly notifies the banking institutions
to stop the practice of selling the Iraqi currency.”
Even if this were true this agreement expired at the end of 2011 when all the troops were
Banks stopped selling the Dinar….. will they open the exchange department and accept dinars if it revalues? Are you sure? The gurus say they will…… hummmmmm
I could go on and on myself but won’t and I will end this comment on this note……..
I don’t say the Iraqi Dinar is a scam….. I will say, that the way it is being sold here in the US and the UK and Canada is the scam. It is giving false hopes to many people, especially to people who keep buying them on reserves and losing their money after 30 days. There are too many questions that remain unanswered by the powers that be. In the meantime, the dealers, the website owners are making money off everyone for one thing or another. They are making the money at this point!
Knowledge is powerful. Do your own research, and then you do as you wish. Marcus is just telling you what he has found, and so do I. Good luck on this investment!
Words of wisdom indeed, Knowledge is powerful. People do your own research and don’t take my word for anything!! that is why there are so many links in these posts. Prove me wrong not by “intel” but by facts. not not by some mythical person someone claims to know, but by a knowledge of how currency works and what it is used for,
Thank you Gogomez for sharing what you came up with, but most of all THANK YOU for standing up for the truth! Love your post!
I again want to thank you for all you have done. I know what it like to uncover the truth and some will believe, and some won’t. I know someone right now who is a close friend who still wants to believe it will happen each weekend. SAD to say she has a melt down when it does not happen! But I warned her and gave her many things to read and even read ther your post and my research. She still bought a large amount on reserve this weekend.
LIke you, I learned a lot of things about currencies, commodities, following the money, and learning to dig more using the internet. And as soon as all my dinars are sold except for the souvenir I will keep to remind me of a lesson learned, (The paper currency is pretty to add to my old currency collection ) I am tucking this research away as well. I have done my duty to inform people as you have. At least your conscience is clear and you can move on!
I am dying to see your next post! Your a man of honor and you are commendable!
Why are you so mad at me? This in itself is an interesting question. I have always said don’t invest more then you are willing to lose. I said that from day one. It is not a matter of being afraid to take a chance. The truth is there is no chance. It is not a matter of being tight. I just don’t have 3,700.00 to throw away on something THAT IS NEVER GOING TO HAPPEN!!! END OF STORY! (3700 is around what I spent) I lost money and I am fine with that
If you don’t like this post you are really going to hate the next post that is coming out soon. My finances are not that tight. After all I did not sell because I needed the money. I sold as a result of the evidence. I have other investments and I am not afraid to take a risk. In fact I take them all the time. This dinar cost me way more than 3700 bucks. It cost me two years of my life tracking this so called investment and listening to every rumor, which I’m pretty sure is something you do. It is never foolish to count the cost and consider the sacrifice. The foolish thing is to not do that.
So now I am back to my original question. Why are you so mad at me? It can only be for one of two reasons. 1. You are so emotionally involved and somewhere in the back of your mind you have doubts and you know I speak the truth, OR.. 2. you are a pumper and your upset because the information I provide is hurting your sales. Hence the phrase “spoiling it for someone else.” For you maybe? If this is the case just know stealing from people is not cool, and pumping here will not be tolerated. However, I am going to give you the benefit of the doubt.
If either one of these reasons were not the case you would not be so upset.
I got to tell you that very soon I am going to put the dinar far away from me. Once everything I got to say is said I am gone. I got to tell you Geo it is nice to be at peace and feel peace once again. It is a peace that can only come from knowing the truth. I wish you well and I wish you peace. It is your choice if you want to continue to hold.
Its hard for me to think that ANYONE got into this with their eyes fully open (personally I could not see thorough the Koolaid I was swimming in at the time) since if that was the case everyone would realize a 1000x return is unlikely to the point of being impossible for al practical purposes and no one would have bought IQD in the first place.
This is what I have been suspecting ever since I first heard of the possibility of a “lop”, but no one would talk about it. All of the dinar sites will silence you if you even try to bring this information to their boards. I’m very grateful to you for doing the research and putting this out there. My problem now is to get my wife to see the truth and sell back our dinar before it’s too late. She is still waiting for the RV to make us millionaires any day now. I would rather sell it back now and recoup most of our money than take a total loss when the redenomination happens. I suspect, as you said, there will be nowhere to exchange when that happens.
Thank you Marcus for taking the time and making the effort to speak out about all the pieces that are finally coming together, and for having the courage to share it. I also have come to similar conclusions as you have over the last year. Enjoy your life free from this circus, and my very best wishes to you in all your endeavors!
All my best!
Great research. Thanks Marcus, it causes me to think. A question I have for you is if they have 69 trillion Dinars out there and they turn them in to 69 billion dinars, would they have enough dinars in circulation to pay for their budget and money for the people of Iraq? 69 billion seems reallly low. So if 69 billion is low how would they get more into circulation without lowering the value again, and since Iraq pulled a scam on everyone, they would now have a lot of enemies and no one would invest in them again. That would keep their society at the same dismal level that they are in now wouldn’t it?
They have 69 trillion dinars now, but who knows how much they will have when they finally redenominate. Since I have been in this investment the money supply did nothing but grow. A lot of what is in Iraq’s budget is for rebuilding the nation. Currently about 70 percent of the budget comes from oil sales. Oil is sold in dollars. So 70 percent of the budget is already made up of us dollars. This should be used to cover the reconstruction costs. I am going to cover your question in more detail in the next post
In April of 2011 Shabibi was addressing the US Chamber of Commerce. Several people there asked him about revaluation of the Dinar. His answer was first they have to worry about inflation. Inflation has to be controlled first, and other things are necessary before an RV. And if he knew when, he wouldn’t be able to tell us.
Then this year, the news I have read is that Shabibi and his staff will be leaving the CBI and they are also leaving the country. I am sure with dollars and not Dinars.
Marcus, you actually answered most of the questions I had been pondering over. One of that was, if the Dinar did not RV before they take the three zeroes off, would the dealers exchange it? Or how would we be able to exchange it locally……. and I am sure there will be a time frame, and Dinarians will be stuck with it.
This link talks about the Dinar Revalue but this new information basically talks about a 1000 dinar being 1 dinar. So it is not about the actual exchange these pumpers are talking about! It is the deletion of the three zeores.
If the deletion of the three zeroes happens, based on what happened here in the US when we had a $1000 bill a long time ago, it had to be replaced with $100 bills….. today, that $1000 bill is worthless (except for collectors). So the alternative would be to go to Iraq and exchange the Dinars people are holding and … that’s impossible!
I remember a few years ago, when I visited the Czech Republic, you could always exchange the US dollars for their money, but if you have any left over money, you can not exchange it anywhere for dollars. Not even in the country; they would not take it back! That is what I think will happen to the Dinars if the dealers all disappear.
I think the Dinar will Revalue but only in baby steps and it would be a very long time, and I may not be around to enjoy it. I think the deletion of the three zeroes will more than likely happen first. By that time, the dinars we are all holding will be worthless!
IMHO, if I exchange my dinars for dollars and still want to delve into other currencies, the Renimbi would more than likely give me a better rate of return than the dinars would.
I thank you, Marcus, for all your research and time. I appreciate all you have done especially in helping me clear my doubts about this scam.
I just had my RV, it was gaining a friend like you. The next thing that’s going to be interesting to watch is the fact that folks who thought their funds investeded in an insolvent bank like Warka are protected. Read the laws folks, it’s not! Don’t hate me, I’m just trying to help.
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