The Iraqi Dinar Will Not Revalue Here’s Why
Back in 2010 I wrote an article called “The Iraqi Dinar Will Revalue, Here’s Why” This turned out to be the most popular thing about the dinar I have ever written. It was copied and pasted in all the forums. Since I spent the last few months correcting things I have said and debunking myths, I thought I would end with the things that were talked about in this article. This subject became too long to include at the end of the last post. (Supposed to be in the last post)
Of course I no longer agree with the premise of this article. As you know by now I do not believe the dinar will revalue. There is something in my disclaimer I would like to point out. It is the part that says. “My opinion is subject to change if new information surfaces that I am not aware of.” Once I started looking in the right places lots of information surfaced I knew nothing about. So now I would like to go into this article with a bit more detail.
Iraq reducing its money supply
Well as we now know this is not the case. They have been expanding the money supply ever since 2004. There was an article that said Iraq was reducing the excess liquidity by 70 percent. This was one of the articles I used that came from Iraq to say Iraq was reducing its currency. Numbers at the CBI have indicated otherwise. It was a matter of not trusting the CBI’s numbers and looking to other sources to confirm currency supply. This goes along with the smoke and mirrors conspiracy thing. The truth is you can trust the numbers from the CBI. They need to be transparent. The IMF would not tolerate deceit.
It is interesting to note that the CBI has released a new version of the key financial indicators document which now shows currency outside of banks being 29 trillion and not the 35 trillion as it declared back in March. In fact the new document does not show the M2. The only real correction was line 79 which stated there was 35 trillion outside of banks. There are other numbers in this document that are missing. Now the new version of this document is saying there was really only 29 trillion outside of banks for the month of March. So what happened? If they did not need to be transparent then there would be no need to indicate they had 35 trillion outside of banks. They could have just lied about the numbers from the start and avoid a lot of headache.
It is my guess this whole turmoil started when Shabibi tried to do something with the currency and released this vast amount. He got a backlash from Maliki and certain members of parliament that support Maliki. This is the thing that caused all the turmoil and now the money is back at the CBI. Of course I don’t know for sure. I do not believe it was a typo. This is because line 79 added correctly with the other figures in the document. Shabibi got caught doing something. That much is obvious. You can go look at the document yourself. I downloaded the version that said there was 35 trillion outside of banks. Now one month later there is magically 29 trillion outside of banks in the new document. There was 28.5 trillion in February. So it is still an expansion and not a reduction. Things that make you go hmmmm.
The dinar article in question was the first one I wrote that talks about the oil effecting GDP, and how oil will not be traded for dinar. I do make the point that a higher GDP will affect the currency’s value. This is the only part of the article that was correct concerning any change in the value of the dinar.
Fractional Reserve Banking
People proposed questions in forums about currency supply. These were people who believed that there would be no revalue. These are also people with financial backgrounds and degrees. At that time I thought there would be a revalue and I knew this was a trick question. Here is the general question that was asked. How can America even support an RV when it only has 3 trillion dollars in circulation according to the money supply? If there is 25 trillion dinar in circulation how can it RV to $3.00 when the US does not even have that much money in circulation? I have read this question in at least three posts
While the question on surfaced sounded good the question itself was really deceitful. The person asking the question knew it was deceitful. They asked it only to argue against people’s hopes for a revalue. They were not interested in the truth, and they thought no one would address this question. It was obvious to me that this was not a question from someone who was searching to expose the truth, but its intended purpose was to antagonize. This was a question from someone who thought everyone in the dinar community was stupid and did not know what he (Mr. Finance Guru) knew about money. So after studying money for a while I was going to let these guys have it with both barrels.
If you really come to a place like I have where you no longer believe there is going to be a revalue, you don’t need to ask deceitful trick questions like this. The facts themselves will support your theory. So I gave my response which I stand by to this day.
In the first place not everyone believes the dinar will revalue that high. (Above the 3.00 mark) The 3 trillion US dollars mentioned here did not make up all of Americas money supply like this question led you to believe. This was only M1, and M1 is physical currency. Only 3 percent of America’s currency is physical currency. So where does the rest come from? Well there is also M2 which is M1 plus electronic currency. It is a different number. This was about 9 trillion at the time. Then there is M3. The Federal Reserve no longer reports on M3. They stopped reporting M3 in 2006. M2 would be base money and this is expanded through something called Fractional Reserve Banking. This is outlined in a book put out by the feds called Modern Money Mechanics. It works something like this (watch Video)
As a direct result of fractional reserve banking the money supply expands. Watch the next video to see how.
The point here is our currency supply is not 3 trillion dollars. That was just our physical currency which is only 3 percent of the money supply. (watch videos) According to the principles in fractional Reserve Banking it also means that outstanding debt is also money in circulation. The banks created the money when it generated the loans. So our national debt is over 15 trillion dollars. Consumer debt is 57 trillion. All of this is money in circulation. This explains why the dollar is in trouble. But don’t sit there and tell me that the US has only 3 trillion dollars to pay for the mythical revalue when there is plenty of other evidence that goes against the revalue theory.
So how much money is there? Well here are some links that explain it.
“In economics, the money supply or money stock, is the total amount of money available in an economy at a specific time. There are several ways to define “money,” but standard measures usually include currency in circulation and demand deposits.” Notice that this standard definition of the money supply does not include debt. Check total debt and total money supple here
Notice that 3 of the 4 contraction and expansion measures for the money supply involve the loan process.
Some people have taken my statements here and thought I said that Iraq’s banks were going to use fractional reserve banking (FRB) to finance the revalue of the dinar. That’s not what I said or what I meant to say. My only reason to point that out in the article was to show America has more US dollars in circulation then the so-called financial experts in the forums were saying. This put a stop to those kinds of questions. At least while I was there.
Iraq won’t use FRB to finance a revalue because this process expands the money supply. Iraq needs to contract their money supply in order for the revalue theory to work. Most of Iraq’s money is base money it has not been expanded through the loan process. This narrows down the contraction measures to one thing which is Redenomination. If you doubt that debt becomes a part of the money supply just look at how money is expanded and contracted. If the fictional RV happened as portrayed in the forums this would cause an immediate increase in the world’s money supply. As people paid off debts like mortgages, credit cards, and cars the money supply would go through a slight decrease.
However, dumping that much money in the general world money supply would have an end result of inflation. This to me is a much better argument then saying the united states only has 3 trillion in circulation. If this is the case how did the United States acquire a debt of over 15 trillion? The point of explaining Fractional Reserve Banking was to show the expansion of the money supply. Not to explain the mechanics of the RV scenario.
The Rothschild Dynasty
In the article I posted in 2010 I talked about the Rothschild family. I talked about their involvement in the first two central banks that America had. I talked about their involvement in the Formation of the Federal Reserve. Part 1 of this article series talks about that. I was speaking about their involvement as part of a world banking cartel. I even said they owned or had a hand in almost all the Central Banks around the world. They basically controlled almost all the central banks.
I talked about what happened during the revolutionary war. I talked about how on one hand the Rothschilds said the colonial script (colonies money) would not amount to anything, and it was worthless. Then secretly they were buying up all the colonial script they could get. After the war one of the things Alexander Hamilton was able to do was place a value on the currency (colonial script) so the Rothschild family could cash in all of the colonial script they had purchased for next to nothing after the war. I mentioned that they are doing this with the dinar today. On one hand they are saying the currency is worthless and then the CBI will revalue the currency that all the fat cat banking cartel own.
Well first I want to address the Rothschild family. Let’s talk about who they are, their history, and what they really own. This alone would fill volumes of books, but in the interest of time I will sum everything up in 5 videos. First watch the videos to gain a basic back ground.
So if you took the time to watch these videos you know of the Rothschild’s involvement in the banking system, the industrial revolution, and the political system. Their old houses are used today as embassies and one mansion was even used as a headquarters to implement the Marshal plan. You see their involvement in the current central banking system. While there seems to be many conspiracy theories surrounding this family, controlling the banking system is not one of them. Here is one link that will provide numerous links for further study. Some of the links in my view are conspiracy minded. Other links bring forth documentation about the truth.
The Rothschild family operates their holdings by degrees of separation. Basically it works like this. Company A is owned by company B, which has a sister company C. all these companies have a parent company D, which is managed and controlled by company E which is controlled by the main corporation that the Rothschild family controls. So with all these degrees of separation there are few companies that bare the name Rothschild that are actually owned by them. It also makes it harder to trace ownership of a given company back to the Rothschild family.
The ultimate parent company of the Rothschild dynasty is a private Swiss company, “Rothschilds Continuation Holdings. AG (RCH) Rothschilds Continuation Holdings AG is a bank holding company which through its subsidiaries, provides banking, treasury, investment banking, fund management, private banking and trust management services to governments, corporations and individuals worldwide. The company is based in Zug, Switzerland. Rothschilds Continuation Holdings AG operates as a subsidiary of Paris Orleans S.A.”
The Rothschild family biographies give the illusion and impression that their total wealth has decreased over the years. But researchers estimate their wealth into something more than half of the entire world’s wealth.
Who owns and operates central banks?
Central Banks are separate from Governments for a reason. They are controlled by someone else. They are part of the elite banking cartel. They do not belong to the people of that country. A central bank is controlled in two ways. First through the International Monetary Fund, (IMF) and second through The Bank For International Settlements.
“The Bank for International Settlements (BIS) is an intergovernmental organization of central banks which fosters international monetary and financial cooperation and serves as a bank for central banks. It is not accountable to any national government. The BIS carries out its work through subcommittees, the secretariats it hosts, and through its annual General Meeting of all members. It also provides banking services, but only to central banks, or to international organizations like itself. Based in Basel, Switzerland, the BIS was established by the Hague agreements of 1930. The Hague Agreements are maintained by World International Property Organization or WIPO.”
“The World Intellectual Property Organization (WIPO) is one of the 17 specialized agencies of the United Nations. WIPO was created in 1967 “to encourage creative activity, to promote the protection of intellectual property throughout the world”
“As with all United Nations multi-government forums, WIPO is not an elected body. WIPO usually attempts to reach decisions by consensus, but in any vote, each Member State is entitled to one vote, regardless of population or contribution to the funding.”
“Unlike other branches of the United Nations, WIPO has significant financial resources independent of the contributions from its Member States. In 2006, over 90% of its income of just over CHF 250 million.”
So we can see how all this connects together. The Bank For International Settlements ultimately plugs back into the United Nations.
Bank For International Settlements Board of directors:
Christian Noyer, Paris (Chairman of the Board of Directors)
Hans Tietmeyer, Frankfurt am Main (Vice-Chairman)
Ben Bernanke, Washington, DC;
Mark Carney, Ottawa;
Mario Draghi, Rome;
William Dudley, New York;
Stefan Ingves, Stockholm;
Mervyn King, London;
Jean-Pierre Landau, Paris;
Guillermo Ortiz Martínez, Mexico City
Guy Quaden, Brussels;
Jean-Pierre Roth, Zürich;
Masaaki Shirakawa, Tokyo;
Jean-Claude Trichet, Frankfurt am Main;
Paul Tucker, London;
Alfons Vicomte Verplaetse, Brussels;
Axel A. Weber, Frankfurt am Main;
Nout Wellink, Amsterdam;
Zhou Xiaochuan, Beijing
Most of these people attend the Bilderberg meeting every year. These people control all the central banks around the world including the CBI. The collation provisional authority set up the CBI as an independent bank and as part of the international system so they could control it. When I say Rothschild owns the CBI I meant Rothschild controlled through BIS, IMF, and UN New World Order. For the Rothschild dynasty are the founding fathers of the central bank system.
Rothschild-owned Central Banks in ALL BUT THREE countries in 2011. (Check the link below) The first Rothschild world bank, the, “Bank for International Settlements (BIS),” is established in Basle, Switzerland.
You may not agree. You may even think that I am a bit to conspiracy theory minded. That’s fine believe what you want. I have provided all the evidence in the supporting links. There is no smoking gun. You got to look at all the evidence as a whole.
I was wrong when I said that the Rothschild institutions were going to revalue the dinar. I now think they already made their money off the dinar. When Iraq was invaded they left the central bank unguarded and Saddam made off with a bunch of dinar. But the invading forces took a lot of the old dinar as well. I now believe that the Rothschilds already made their money on the initial exchange back in 2004. I got several links for this as well. I am still digging in this area and I think the global interest already made their money off the first exchange. This is what the evidence suggest so far. It seems I found out about the dinar long after they were out.
So there it is, these last 6 posts gives my personal story about the dinar and my 2 year involvement with this currency. I am certain that this currency will redenominate and I believe that when this happens there will be no way to trade back for dollars here in the US. Once people figure this out the demand for the currency will stop. And once that happens you will not even be able to trade that worthless dinar paper for a stick of gum. There will be no demand for it. The dealers will all close up shop and you will not find them.
The dinar is like a game of musical chairs. Whoever is caught holding this stuff when the whole thing crashes will lose. They won’t be able to find a seat once the music stops. And that is the scam behind the dinar.