The Dinar Will Not Be A Reserve Currency

/ Marcus Curtis

I have read on various forums that people believe the dinar will be a reserve currency. Reserve currencies were first set up under Bretton Woods. This is where a country would hold a certain amount of another nation’s currency as a reserve to give that nations currency value and worth.

So does the dinar qualify, or will it qualify after the mythical revalue happens? How likely do you think it is that they will replace the US dollar (an over printed fiat currency) with the dinar (another over printed fiat currency) as a reserve in the event of a complete global collapse?

I have another blog that I maintain called Biblical Views and World Economics. It really has little to do with biblical views and more of a focus on world economics. I have about 4 years of research on global economics that is displayed through this blog. Lately I have been writing for that blog. I just finished an article called, The Monetary History of America. This topic is so important to our understanding of money that I decided to make this a page on the site instead of an article or post.

It is amazing to me how the bankers, central banks, and the money changers have been screwing things up for the last 300 years. There is a lot of doom and gloom with the economy and our current financial system. A lot of prophets are predicting the end of the dollar and the reign of some other standard overnight, but is this a practical point of view? Will the dinar be the savior of the monetary world like all the forums and gurus predict? Highly unlikely! In fact this is not at all possible.

Will the dollar crash overnight? Even if this was the case it is highly unlikely that the new standard will be another over printed fiat currency from a country with no infrastructure and whose entire GDP depends only on oil given the track record of such currencies.

So people are returning to real money. (Gold and Silver) Prices for these metals have soared as people stock-pile them and as nations add them to their reserves. The main reason people are stocking up on gold and silver is because they can see what is happening with the dollar. In my new blog page we cover the history of money in America. When you study this out some interesting things come to light. I will talk about just a few highlights here. If you want to read the whole thing just click on the link below

http://bvawe.wordpress.com/the-monetary-history-of-america/

“James A. Garfield became president in 1881.Throughout Garfield’s extended Congressional service after the Civil War he fervently opposed the Greenback, and gained a reputation as a skilled orator. President Garfield advocated a bi-metal monetary system”.

Under this system the metal was the money and the currency was merely the receipt for the money.

“Ulysses S. Grant was our 18th president. There was a panic in 1873 which led to a depression for 5 years. People wanted more paper currency in circulation. The Inflation Bill was pushed through on April 14, 1874 to increase the nation’s tight money supply as a result of the contraction act. Many farmers and working men favored the bill, but Eastern bankers wanted a veto because of their reliance on bonds and foreign investors. On April 22, 1874, Grant unexpectedly vetoed the bill on the grounds that it would destroy the credit of the nation.”

“Stephen Grover Cleveland was the 22nd and 24th President of the United States. He is the only president to serve two non-consecutive terms. (1885–1889 and 1893–1897) In his second term the panic of 1893 struck the nation. The panic was worsened by the acute shortage of gold that resulted from the free coinage of silver. Cleveland oversaw the repeal of the Sherman Silver Act. At the time the repeal seemed a minor setback to silverites, but it marked the beginning of the end of silver as a basis for American currency.”

“William McKinley is our 25th president. He secured the passage of the Gold Standard Act”.

Every major currency left the gold standard during the Great Depression. This put and end to what is known as the classical gold era. Some of the doom and gloom prophets that are forecasting and end to the dollar are calling for a return to the gold standard. While this idea may have some merit, the gold standard did not protect anyone during the great depression and in fact the faster nations removed themselves from this standard the faster their economies recovered. (Sources and links provided from original article on my other blog)

The big mistake in my opinion was the removal of silver and that gold was the only metal used for money, or to back money. I think James Garfield had it right. A bi-metal monetary system would be better. But whatever system winds up replacing the dollar just know it won’t be like anything we had in the past. In fact I believe that when the dollar is replaced it will be a whole new system of exchange. Gold and silver will serve to protect people while the new system is being set up. That’s why prices are going through the roof. Fear is driving the market. Whenever people panic they always run back to real money. (Gold and Silver) paper fiat currency is not real money. It might as well be monopoly money. For now though, the dollar has value.

I don’t agree that the dollar will crash overnight like some people think. I think the dollar will meet a gradual demise. The indicator is oil. Two thirds of our currency is overseas and it is used to buy and sell oil. Since the dollar is the medium of exchange for oil, other nations secure the dollar by their oil supplies. It does not matter what quantity The Federal Reserve puts out. Although this weakens the dollar it won’t destroy it. When nations start to use some other medium to exchange for oil, then those dollars overseas will no longer be needed. When that happens most of all the foreign U.S. dollars will make their way back to the United States where they originated. When this happens hyperinflation will set in as there will be too much money in circulation.

The cause and effect of this will mean several things. First we as Americans will see a dramatic fall in our standard of living. America’s credit rating will plummet. And the economy will adjust accordingly. The adjustments will be gradual. Second, America could face a redenomination of its own. We should be familiar with this process after we watch what happens with the Iraqi dinar. Third, there will be a new global exchange that could move beyond the medium of fiat currencies, or the nations that held our debt will be the new reserve currencies. What will the new system be?

http://articles.nydailynews.com/2012-06-01/news/31965723_1_verichip-dna-testing-microchip

Who really knows for sure. What will America do when our dollar is no longer the medium and standard for the world? Simple, they will start drilling for oil here in America and tap America’s vast oil reserves that until now remain untouched. For more information on this, research the petro dollar and see its global impact. This is also talked about in great detail on my other blog about global economics. (BVAWE)

11 thoughts on “The Dinar Will Not Be A Reserve Currency”

  1. Pingback: This is it for me | Iraq Currency Watch

  2. Well stated, My hat is off to you,Some things you are right on, However we should think of things that are of a good report, true, honest. Philipians 4;8, not on the negitive thing, let some people have some hope , instead of popping their dreams . GEO.

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    • GEO,
      That statement makes no sense. Marcus is choosing to focus on the truth of this investment, and he’s been honest about what is going to happen with it. The “negative thing” is actually the mythical RV which is never going to happen. The notion that you’re OK with people believing in the RV simply for a sense of false hope is contrary to the point you are trying to make and the Bible verse you are trying to make it with.

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    • Geo,
      I got to agree with Reeder on this one. I am beginning to wonder if you even clicked on the links I gave you in my other comment, because if you did then you would know that I refer to more than two books in the bible. You have accused me of taking a few scriptures and not taking the whole book into account. I think you have been doing this very thing. Well I feel that since you like scripture let’s look to that for answers.

      Isaiah says God word is not subject to private interpretation. It says there is only a certain way scripture fits together line upon line and precept upon precept Isa 28:13 Revelation displays a warning not to add to or take away from Gods word. Deuteronomy does too. 2 Tim says, All scripture is given by inspiration of God, and is profitable for doctrine, for reproof, for correction, for instruction in righteousness:

      You can’t just take the bible out of context and apply a scripture in a way it is not meant to go. One scripture says Judas went out and hanged himself, another scripture says go ye and do likewise. If You put those two together then you’re going to have problems and now you’re putting scripture together in a way that was never meant to be. The instructions are Line upon line precept upon precept.

      You quoted PHILIPPIANS 4:8 but you should have also included

      Php 3:2 Beware of dogs, beware of evil workers, beware of the concision.
      Php 3:8 Yea doubtless, and I count all things but loss for the excellency of the knowledge of Christ Jesus my Lord: for whom I have suffered the loss of all things, and do count them but dung, that I may win Christ,
      Php 3:18 (For many walk, of whom I have told you often, and now tell you even weeping, that they are the enemies of the cross of Christ:
      Php 3:19 Whose end is destruction, whose God is their belly, and whose glory is in their shame, who mind earthly things.)
      So do these things sound like they are lovely or of good report? The theme of all this can be found in this versus
      Php 3:13 Brethren, I count not myself to have apprehended: but this one thing I do, forgetting those things which are behind, and reaching forth unto those things which are before,
      Php 3:14 I press toward the mark for the prize of the high calling of God in Christ Jesus.

      4:8 is the conclusion to this and tells how to obtain this goal. It is not saying never dwell on anything negative. How will you be able to judge anything right if you don’t consider everything? This scripture was not meant to be applied to the negatives of a dinar investment. But since you like scripture how about this verse.

      Joh 8:32 And ye shall know the truth, and the truth shall make you free.

      I am baffle as to why you would prefer people stay in bondage over this investment because you don’t want to wake them! I know people who destroyed themselves over this dinar investment. Why not set them free?

      John 17:17Sanctify them in the truth; your word is truth.

      Ephesians 1:13-14In him you also, when you heard the word of truth, the gospel of your salvation, and believed in him, were sealed with the promised Holy Spirit, who is the guarantee of our inheritance until we acquire possession of it, to the praise of his glory.

      Psalm 25:5Lead me in your truth and teach me, for you are the God of my salvation; for you I wait all the day long.

      Psalm 43:3Send out your light and your truth; let them lead me; let them bring me to your holy hill and to your dwelling!

      Psalm 86:11 Teach me your way, O LORD, that I may walk in your truth; unite my heart to fear your name.

      James 1:18Of his own will he brought us forth by the word of truth, that we should be a kind of firstfruits of his creatures.

      John 1:14And the Word became flesh and dwelt among us, and we have seen his glory, glory as of the only Son from the Father, full of grace and truth.

      This is why we must tell the truth concerning this investment; I hope I used enough books for you. The absolute worse lies out there are the ones we tell to ourselves. One more scripture

      Rev 21:8 But the fearful, and unbelieving, and the abominable, and murderers, and whoremongers, and sorcerers, and idolaters, and all liars shall have their part in the lake which burneth with fire and brimstone: which is the second death.

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  3. Marcus let me hear your explaination on Prov 13,22. I notice to use Danial, Isaiah, and Revalation, alot. As believers we need to use the bible completely, (put it all together) and not just a few verses that will help further our cause. Geo.

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    • Geo,
      I do read and use the whole bible. I have studied the entire book. I still study every day and learn more and more as time goes on. I am writing about bible prophecy and its connection to world economics and world events. That is the theme of this blog. So given the subject matter scriptures will be used that have a prophetic nature. Those books you listed are not the only books I wrote about or use. If you would click on the links you will see I used Ezekiel, Genesis, Psalms, Jeremiah, 1kings, Jonah, Zechariah, and Colossians in those posts, and all those books are all used in the links supplied in my comment,

      It is important to note that the blog in question is not intended to be a complete guide to the bible or my entire view of scripture. It is only intended to give a partial and very brief overview of biblical prophecy and how to recognize the day and times we live in. I have a lot of readers that don’t even believe the bible. I know this because I hear from them. So I provided a biblical views page in defense of scripture for those who think the bible is not true or bogus. This page provides answers to tough questions that fight against people’s faith. We need to fight the good fight of faith taking every thought into captivity. This includes every thought that opposes the knowledge of God!
      Now to provide an answer to your question I will use KJV
      Proverbs 13:22

      Pro 13:22 A good man leaveth an inheritance to his children’s children: and the wealth of the sinner is laid up for the just.

      Wealth and the effects of sin to someone’s wealth seem to be the theme to the whole chapter Your right we do need to include the whole word and not just a few versus to further our cause. So let’s look at some other versus in this chapter.

      Pro 13:1 A wise son heareth his father’s instruction: but a scorner heareth not rebuke.
      Pro 13:2 A man shall eat good by the fruit of his mouth: but the soul of the transgressors shall eat violence.
      Pro 13:3 He that keepeth his mouth keepeth his life: but he that openeth wide his lips shall have destruction.
      Pro 13:4 The soul of the sluggard desireth, and hath nothing: but the soul of the diligent shall be made fat.
      o 13:7 There is that maketh himself rich, yet hath nothing: there is that maketh himself poor, yet hath great riches.
      Pro 13:8 The ransom of a man’s life are his riches: but the poor heareth not rebuke.
      Pro 13:11 Wealth gotten by vanity shall be diminished: but he that gathereth by labour shall increase.
      Pro 13:18 Poverty and shame shall be to him that refuseth instruction: but he that regardeth reproof shall be honoured.
      Pro 13:25 The righteous eateth to the satisfying of his soul: but the belly of the wicked shall want.

      So as you can see the whole theme of this chapter deals with the effect that sin has on wealth, but is this to say that if you don’t leave a good inheritance of wealth to your kids then you’re an evil sinful man? What about those who have been born in poverty or what about those who live in third world countries and have nothing? Are the poor wicked because they have no inheritance to leave? Of course not.

      Is the inheritance here only referring to material wealth, or is it referring to things like knowledge.

      Pro 13:1 A wise son heareth his father’s instruction: but a scorner heareth not rebuke.
      Pro 13:5 A righteous man hateth lying: but a wicked man is loathsome, and cometh to shame.
      Pro 13:6 Righteousness keepeth him that is upright in the way: but wickedness overthroweth the sinner.
      Pro 13:9 The light of the righteous rejoiceth: but the lamp of the wicked shall be put out.

      Does this chapter seem to imply that honesty, integrity, and truthfulness are also a part of a good inheritance? Here is the whole theme

      The heaped up treasures of the wicked find their way at long last into the hands of better men.

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  4. It is very accurately portrayed that the Iraqi Dinar will not be a reserve Currency in any foreseeable future… as there are no 3rd world countries that have had their currency made into a World Reserve Currency! Until Iraq settles it’s internal problems, and gets their engine on the right track toward internationally recognized status, and become ultimately far more transparent in it’;s reporting methods…. there is no hope for a reserve status! Or at least that is the way I see it!

    Long before this reserve status could ever happen, The currency would have to be internationally trade able for a convincing time to install world confidence in it, and it would have to be declared an Governmental Issued Official Promissory Note… of which regardless to what most think… it is not at this time, and this fact can be substantiated by access Iraqi CBI LAWS 32 – 36, which state it is not an official promissory Note and it’s purpose is not even designed for usage outside of Iraq!

    Good Work MARCUS….. Highfive to you and to this Blog for the excellency it presents to the community, even if community desires to believe otherwise!

    BEST WISHES,
    Proteus

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  5. Logically Markus is right. All the rumors and unsubstantiated crap about the Dinar is is just that “crap”. No currency ever has revaled from almost zero to some large phantom amount. So logically it shouldn’t happen with the Dinar. Logically the Iraqi’s have been clever in taking in US dollars for their worthles Dinars. They are clever in that they have deliberately over produced Dinar, cleverly “pumped’ unsuspecting Americans into buying the exiisting 70 trillion Dinar only to re denominate making the 70 trillion worthlesss. It is my opinion that their cleverness is going to backfire. God is in control not the CBI, World Bank or the US Treasury!! If God has a plan that plan will be fulfilled no matter how clever or logical the plans of man are. The question is: What is Gods plan? will the wealth of the wicked be put up for the righteous? or is it all a scam orchestrated by the devil? Only God knows. The bottom line is that no matter what happens with the dinar, the dollar , the euro or the yen it will be what God says it will be. Dinar holders will be the beneficiery of Gods plan whether it is a large reval or just a bust. The key is God is in charge, not the CBI, Ali, Shabbibi, or Markus. We should focus on God’s will not on our pocket book.

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