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.
http://www.cbi.iq/index.php?pid=Statistics
Oil
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.
http://en.wikipedia.org/wiki/Money_supply
http://en.wikipedia.org/wiki/File:Money-supply.png
“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
http://en.wikipedia.org/wiki/Contractionary_monetary_policy
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.
http://www.carlg.org/engrothschild.html
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.”
http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=4511240
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.”
http://en.wikipedia.org/wiki/Bank_for_International_Settlements
http://en.wikipedia.org/wiki/World_Intellectual_Property_Organization
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.
http://globalresearch.ca/index.php?context=va&aid=25247
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.
http://mikephilbin.blogspot.com/2011/11/rothschild-owned-central-banks-in-all.html
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.
Iraq Currency Watch 
Pingback: This is it for me | Iraq Currency Watch
Sometimes you just can’t save stupid. Thanks for trying Marcus!
LikeLike
even so…..shine the light!
LikeLike
Hi Marcus, thanks for another great article. I’ve been reading your blog for a couple years now and was delighted to see this is your opinion on the subject now. When I heard that the re-denomination officially going ahead in Sept this was a HUGE warning signal to me– this “RV” event that has been hyped-up over and over again *IS* this coming re-denomination and there will be nothing more. At that stage, none of the dealers will be interested in swapping notes, they’ll all be gone. I sold my few million on eBay within days after hearing the re-denomination news. You’re too right about the game of music chairs – and whoever holds on the longest will definitely have the hardest time trying to get rid of it. Even now I would be surprised if anyone would be silly enough to buy… thanks again for all your research and views on the entire subject.
LikeLike
Anthony,
Unfortunately, there are a lot of newbies. And many of my friends whom I have warned still tell everyone they meet about the Dinar. So there will be many that will still buy. Its unfortunate but people are very naive about this scam and they buy before they do their due diligence. And even if you did check things out on the net, there are so many forums you fall for it, like I did. Then finally realize later there’s just something that’s not right about this investment. I too have sold my dinars and invested on hard assets instead.
LikeLike
Marcus, I see you had a link to a similar article but the one I just sent you is more complete.
Per your answer to Pilgrim:
Forth, I believe that the dinar will only be used in Iraq after the redenomination. It will be valued lower to help attract industry. This will make the cost of manufacturing goods inside Iraq cheaper.
Just as an example…….I was researching the history of currency in Vietnam….. and they did lower the value of their currency to attract industry. And here is a little more information for people to read…..
Vietnam’s economy remains dominated by state-owned enterprises
In February 2011, Vietnam shifted its focus away from economic growth to stabilizing its economy and tightened fiscal and monetary policies.
In early 2012 Vietnam unveiled a broad “three pillar” economic reform program, proposing the restructuring of public investment, state-owned enterprises and the banking sector. Vietnam’s economy continues to face challenges from low foreign exchange reserves, an undercapitalized banking sector, and high borrowing costs. The near-bankruptcy and subsequent default of the state-owned-enterprise Vinashin, a leading shipbuilder, led to a ratings downgrade of Vietnam’s sovereign debt, exacerbating Vietnam’s borrowing difficulties.
dong (VND) per US dollar –
As you can see, for each year, the value of their money is getting lesser.
20.820 (2012 May)
20,585.6 (2011)
19,130.5 (2010)
17,799.6 (2009)
16,548.3 (2008)
16,119 (2007)
The gurus are now pumping the Dong quiet a bit lately, saying that people can double dip. According to information passed on to me, it will RV Monday the 21st between 78 – to 86 cents! And IQD to be expected on Tuesday!
Unfortunately, I have friends who still believe all of these lies, and are giving these dealers their hard earned money!
LikeLike
Gogomez,
I had a friend that traded a million dinar in to get dong because he wanted to do a double dip. I warned him back then not to do it. He did it anyway. All we can do is warn people. I can tell you if dealers are around selling dong after the RV/Redenomination they could be in serious trouble. First their location will be exposed. And second they can face civil and criminal law cases. That would be great to watch.
The Dong is not going up. If it does this would affect how cheap the labor is and how much it would cost to manufacture goods. Plus like you said the economy is dominated by state owned enterprises. Currencies in countries like this don’t go up much If at all.
Thanks for all your input If I actually made money from this blog I would hire you
LikeLike
Thanks for all your time and research Marcus, I know what it is like to research and spend time reading and making sure everything is documented. I was once a nutraceutical research writer for a Women’s newspaper, and everything I wrote had scientific studies behind the actual product not just the ingredients. I had to let people know that just because one ingredient in a product had scientific research on it, it had to work synergistically with the whole product, and had a significant effect to be valid.
People are just too easily mesmerized by propaganda, like the gurus do with their websites, forums and now even getting bonuses (if you buy 1 million dinars you would get 10,000 to 25,000 extra dinars), or the way they are doing reserves now. What a scam!!!!
The sad part is that those gurus are also pushing this dong and getting pretty good money for them also. Double dip is the word they are using to get more people to buy! Heck, you might as well buy every currency they say that is going to RV, then eat hotdogs and garbage food until RV time…..that’s a plan! Sad, Sad, Sad!
I really prefer to have hard assets… things that are in my hand or I fully own. With some of the money these people have invested, even as low as 1.5 million dinars ( with the dollar value they paid for ), I would have a nice lot in a subdivision in Florida ready to build, or even metals, which has been around since the Roman times and has value!
What do you think about the Yuan! There has been many media articles on that because they pretty much own us. We can never repay them!
LikeLike
Marcus, some months ago, there was news that the dinar will not delete the three zeroes until they disucss the situation again in 2013. But I found this article which was written in Mid May…….
(This is a translation from Arabic to English)
Delete the zeros of the Iraqi currency early 2013 and printing new currency early June
Author Maher Babylonian news/Baghdad
Tuesday 15/5/12 3: 47 PM
Iraqi parliamentary sources said that the new Iraqi currency printing will begin early June next will replace currency and delete zeros from the beginning of next year will be 2013.
The parliamentary Finance Committee said, Tuesday, that the deletion of zeros and replace the Iraqi currency would be early January 2013, indicated it will start printing the new currency in various categories.
Member of the Finance Committee, said Haitham Al-Juburi said January next year will delete the three zeros 2013 and replacement of currency, “he said, adding that” starting from September 2012, will next direct printing new currency by various categories. ”
Jaburi said that “the process of replacing the old currency will continue year old should be withdrawn in full during the first six months of the year 2014”, stating that “delete the three zeros and replace would preserve stability in Iraqi currency and reducing the demand for hard currency.
He Al-Juburi said Iraqi Central Bank allayed all fears concerning money-laundering and forgery during the process of replacing the old with the new currency, “he” possesses a special body to combat money laundering. ”
Jaburi said that “reform of currency management system into the work of the Central Bank and to delete zeros is a strategic functions,” the Finance Committee in Parliament supports the policy of the Central Bank of Iraq in that direction “.
Issued by the Secretariat of the Council of Ministers on 12 April 2012, a decision to wait in the application deleting zeros from the currency and requiring all the procedures relating to stop the process until further notice.
Some economists believe that Iraq is not initialized at this time to delete the zeros of the Iraqi dinar, pointing out that this step requires political stability and security, along with economic stability.
The Iraqi Central Bank, announced in January 2012, intended to put three large segments of the Iraqi dinar include 200, 100 and 50 dinars after deleting three zeros from the currency, he said the process of replacing the currency take two years.
What’s your take on this?
LikeLike
Thanks for another great article. I love all your research. Thanks for replying to all these posts too. If IRAQ redonimanates to 69 billion Dinars (or however many will be in existance), would these newer Iraqi dinars then be tradeable in the world? So then why wouldn’t banks and the dealers want to stick around to make the trades for our current dinars for the new dinars and make all those commissions? Also if all the current dinars all of a sudden become 69 billion dollars worth of dinars, then how will a country so rich in resources use only 69 billion dollars to do business with the world?
LikeLike
Hi Pilgrim
So many really good questions let’s take these out one at a time
First, Banks won’t trade dinar now and it is highly unlikely that they would trade dinar in the event of a redenomination. If Iraq closes its borders it may not allow currency outside of its borders to be traded in. If they do this the banks hands will be tied anyway and they will be unable to exchange it. If Iraq will not change out the currency outside its borders then that reduces the cost of a redenomination for them. In addition to this the trillions of dinar outside of Iraq will be null and void. This means Iraq won’t need to provide liquidity for the dinar outside of Iraq saving even more money. (Billions of dollars in this case)
Second, dinar dealers operate under something called a Money Service Business (MSB) license. This does not give dealers the freedom to market dinar as an investment. They can only sell dinar as a novelty or a collectable item. Yet all dealers have been selling it as an investment. Ali Agha’s email regarding trade in places after a revalue is an example. Him saying you invest in Iraq when you buy dinars on a conference call is another example. This makes the dealers legally liable if the dinar does in fact redenominate. This gives the customers legal recourse to sue for up to 3 times what they paid for the dinar. There will be so many people who are angry when they figure this out that a title wave of civil law suits will be waged at all dealers, but you can’t sue who you cannot find.
Third, Iraq is dollarized they get dollars for the sale of their oil because the dollar is internationally traded. 80 percent of their budget is currently made up of dollars not dinar. This is how Iraq operates in the international arena. They only need enough dinar to trade within their country. They will use the dollar for everything else.
Forth, I believe that the dinar will only be used in Iraq after the redenomination. It will be valued lower to help attract industry. This will make the cost of manufacturing goods inside Iraq cheaper.
I hope that answers all your questions
LikeLike
Wow, thanks. That’s great stuff. I do have one other question. I tried looking at your previous post tracing the flow of Dinar from Iraq to the US and the wiki leaks URL’s wern’t working. Assuming that the flow of Iraqi Dinars is an underhanded scam as you pointed out from banks in Iraq to the dealers in the US, my question is why hasn’t the US government stepped in and given warnings since there are so many of them being sold here?
LikeLike
Pilgrim,
On the day you checked it the server was down probably for maintenance reasons. Everything works now and the post you are referring to is called Where do we go from here part 1. How come the government has not stopped this yet? I have many theories but no hard evidence as of yet. First The Government did stop the BH group and ceased documents from their establishment. They can no longer sell dinar. Second prosecuting a case like this is difficult and complex. They may be working on it now for all we know.
Do you know about CMKX diamonds? In short this was a penny stock that suffered from Naked Short Selling which is highly illegal. The government got involved through the Security Exchange Commission. They set up a sting operation to arrest the stock brokers selling the bogus stock. People who bought all the stock lost as a result of the government’s sting operation. They sued the United States government to the tune of 4.7 trillion dollars. That is a lot of money lost over a penny stock. This is talked about in my Rabbit Hole series on my other blog. all the links you will need to investigate is found there.
The government can’t even run the post office much less deal with these guys. They are going to need some help from the inside. I thought about sending the authorities all my research on the gurus and how they are connected. Maybe I will offer it to them when all is said and done
LikeLike
Hi Marcus,
Another question for you. If in the beginning history of the CBI that it’s execs knew that the new currency would go out of the country, when did they make it illegal for banks and others to sell it out of the country?
According to an article I saw in wikipedia the Provisional Government setup the CBI and knew that foreign speculators were buying the currency.
http://en.wikipedia.org/wiki/Iraqi_dinar
“These new banknotes led to a new industry of selling the new Iraqi dinar to oversea investors who hoped to profit from Iraq’s new currency when the economy improved. The provisional government of Iraq has made this legal, but the banknotes are exchanged at different rates by companies wanting to make profit. Due to the success of this program, though, Iraqi dinar has been widely counterfeited. However, there are six different security features on the 25,000 Iraqi dinar note that one can check for authenticity.”
LikeLike
Hi Pilgrim,
I have been a little vague on this point and for that I apologize. I do not believe currently that the dinar is illegal to buy and hold. I never held this position. I don’t think the dinar is illegal to sell, I think the sale of dinar is controlled. Although there are some people who believe it is illegal to sell.
It is controlled; take for example the SOFA agreement. Article 20 says that US and International contractors are not allowed to export dinar. US soldiers are not allowed to bring dinar back or mail it home. The dinar must leave the country through the banking system. The reason for this is simple in my opinion. When contractors and solders take money out of the system they compete with the auctions and the dollars don’t make it to the banks.
In the beginning when the dinar was first set up here in America you could get it at the banks. I know people who bought it at a bank. Now that the dealer network is in full force they no longer need the banks to sell the stuff. I believe the reason for this is so Iraq won’t need to provide liquidity in the event of a redenomination. All the dollars go to Iraq and all the dinar comes here. The secret is Iraq will wind up keeping the billions of dollars that went over there and the dinar will be worthless. You see in the end the American citizens will have sent billions of dollars to Iraq willingly under the ruse of a get rich quick scheme.
LikeLike
Marcus,
Why is the US government allowing dinar to be sold in the US if it will be worthless when it revalues
and why is the US govt. buying so much of it? Doesn’t make sense…
LikeLike
Hi Linda,
First let me ask you this. Is the United States buying up Iraqi dinar? If so please provide a link because I have been looking for evidence of this everywhere. I have not found anything outside of the dinar forums that can verify such a statement. As far as the facts go the Burdon of proof comes from the person making the statement. This is why I provide so many independent links in my blog posts.
Please provide an official link that is not from a dinar forum or blog site. This is because dinar websites tend to lie to push or pump the sales of this otherwise worthless paper. I have been able to document the very fact that they lie in the last 6 articles here on this blog. If you can provide a verifiable link about the US buying up dinar then we will discuss and consider this point.
Happy hunting
LikeLike
Marcus,
In answer to where is the proof ‘The US govt has purchased dinar’…..
I don’t have the time to research where this may be found. I did hear it on a few dinar conference
calls…don’t know where they found this information.
But, you may find the following interesting:
Breitling pointed this statement out from a report titled ‘Special Inspector General for Iraq Reconstruction Quarterly Report to the United States Congress’ dated April 2012.
You have to read the top left hand paragraph on page 84 which states that the dinar
was going to be worth slightly less than $1.00. It is worth less than one tenth of a cent now.
This tells me that Iraq’s intention is to revalue it’s currency now or sometime in the future.
http://www.sigir.mil/publications/quarterlyreports/index.html
Linda
LikeLike
Hi Linda,
My point is there is no proof of this. I spent long hours looking for evidence with intricate key word searches and found nothing. The only thing I found was an obscure link that has the total of exotic currency in the possession of the treasury. This was the total amount of all currency from all countries. The number was not high enough to indicate that the US has trillions of Iraqi dinars. There is no proof of this.
You heard this on a conference call. You need to be aware that the people on these calls make their money off of you believing there is going to be a revalue. This colors their view and it is well documented that they give misinformation. Breitling has said a number of things that were false. Check out these links for a short list of false statements he was caught saying.
http://dinardouchebags.blogspot.com/2012/02/breitling-catalog.html
http://dinardouchebags.blogspot.com/2011/10/breitling-busted.html
You can see here a long line of lies and deceit spoken by this man so he can make his profit. These guys will tell you anything to get you to buy dinar and dong from their associates. They obviously make commissions.
I have read through the Special Inspector General’s Report. He does say the dinar will be worth slightly less. But the key here is he does not say how the dinar is going to be valued slightly less. He does not say the currency is going to revalue. In fact if Iraq redenominates they will save billions because they don’t need to provide liquidity for all their notes. Iraq is going to redenominate. The new notes will be printed in September. They will be distributed in 2013. Check it out here is a link.
http://iraqidinarchat.net/?p=3452
Ok you see how I provide links for everything I say? I just need one that says the US has trillions of dinar from a source that does not sell or represent dinar.
Even Breitling and Roger Dorman from Dinar Daddy are starting to admit there is going to be a redenomination.
http://dinardouchebags.blogspot.com/2012/05/and-backpeddling-begins.html
I implore you to click on the links and learn the truth. I was where you are now. I believed I would become rich from this investment. This was because I was listening to all the wrong people and I did not do my own research. Find out the truth. You won’t be sorry. I will leave you with one more thought.
I have looked at the code and I can not get this video to play. Just hit the youtub icon in the lower right hand corner and go to youtubes site to watch.
LikeLike
Marcus thanks for your reply. I listen to very few calls, in fact I really only listen to one call
and maybe Breitling on occasion. I’m willing to hold on to what I’ve purchased and take
the chance they will revalue in time. Why cash in and look for reasons that this is not
going to happen….that doesn’t make sense to me plus it’s very negative.
I feel Iraq’s currency will at least match it’s surrounding countries at some
point so to me it’s worth the ‘wait and see’. I’m not expecting to get rich just pay
off a few debts. Plus I’d like to invest in the Iraqi Stock Exch or companies that are
developing their infrastructure…maybe some hedge funds here in the US.
Their is a lot of money to be made from this newly developing country. Look at the
positive aspects of what Iraq has to offer. They need everything that we take for granted, computers, cell phones, cars, houses clothes, safe and decent food, shopping malls,
(and the list goes on) that we take for granted.
I see lot’s of opportunity and a chance of a life time to make some money using Iraq as
a vehicle. That’s where I’d like to spend my research time.
LikeLike
Linda,
Being informed is not negative. It is gaining the wisdom to know how and where to invest. I have investments as well with a greater rate of return. In any event I wish you well and may you find the prosperity you are looking for
LikeLike