Earlier this week I got into a conversation with some people. It was made known to me that what I believed about the dinar was just my opinion. These guys implied that their belief in the revalue was based upon facts, and they did their homework. One of the things I remember about school is, just because you did your homework did not necessarily mean you would get an A on that homework. It also did not mean you would pass any tests. It just meant that you completed an assignment.
As I began to think about their point I discovered that they were right! What I believe is my opinion. Now that does not mean I am wrong. It just means that my analysis is completely my opinion. Whether those things become true yet remains to be seen. I did my homework too and I based my opinion on facts as well. The real question here is this. Who is going to get the higher grade based on the assignment called the Iraqi Dinar?
I remember when I use to be a dinar investor. I remember when I had high confidence in this investment. I was a member of the Dinar Vets Forum. I posted in there on a weekly basis and I defended what I believed based upon the so-called facts. I ran into someone in that forum whose name was Dustin Hayes. He coined a term called “Forum Facts”. A forum fact was something that was believed to be true only in the dinar community and the dinar forums. Outside the community that forum fact had no basis in truth what so ever.
I thought I did my homework when I was invested in the dinar, but as it turns out all of my so-called facts were wrong. The information that I had was recycled guru lies that was received as gospel truth! So-called facts like the Kuwaiti revalue and other facts of that nature had no truth at all. The thing that influenced me and caused me to change my mind about this dinar investment was learning the truth about the facts I was basing my belief on. Once that happened I saw that this whole thing was a lie and the facts I was basing my conclusions on were all lies as well. I was deceived.
So I thought it would be proper to put together a truthful fact list as to why I now believe the way I do. Please feel free to add to this fact sheet in the comment area, but keep in mind untruthful facts will be debunked! Some of these facts will be talked about in more detail in upcoming articles. This list of facts will correct guru lies and they will also include the way currency really works.
Fact 1: Currently there is over 34 trillion Iraqi dinar in circulation outside of the banks. That’s Trillion with a T!
Fact 2: The CBI has over 71 trillion Iraqi dinar in there M1 money supply. Check the CBI website
Fact 3: The CBI has over 85 trillion Iraqi dinar in their M2 money supply. Check the CBI website.
Fact 4: America’s total M2 money supply is only 11 trillion. There is not enough to cover a revalue to even a dollar.
Fact 5: In all of history there has never been a revalue above 50 percent. NEVER!
Fact 6: If the dinar were to revalue to 1 penny that would be a 1,000 percent revalue given the current exchange rate.
Fact 7: If the Dinar were to revalue to 1 dollar that would be 100,000 percent revalue given the current exchange rate.
Fact 8: If the dinar were to go to Its prewar rate it would be a 300,000 percent revalue given the current exchange rate.
Fact 9: Iraq was involved with a currency scam in the 1990’s which is similar to the current dinar scam going on today. In 1993 25 billion was lost to private investors outside of Iraq because of the same hype we see today. Check the Link below,
Fact 10: Iraq’s reserves have been growing as a direct result of their currency being exported. The United States does not have a bilateral investment treaty (BIT) with Iraq. There are no bilateral treaty obligations which protect the dinar outside of country. Check the link below. In addition Iraq’s National Investment Law does not cover the banking sector and excludes it’s currency. A copy of this law can be obtained here. http://www.export.gov/iraq
Fact 11: A redenomination would strengthen the dinar and drastically reduce the amount of currency in circulation.
Fact 12: A revalue like the gurus claim would be the same as adding currency to the money supply and it would contribute to hyper-inflation. It would not only make the currency weak it would totally collapse the currency. (check the feds document called Modern Money Mechanics)
Fact 13: There was never a Kuwaiti revalue after the gulf war. Check the Kuwaiti Central Bank Website. Look at Wiki-Pedia. and Check the link below.
Fact 14: In 2005 Turkey went through a redenomination with their currency. (TURKISH LIRA) They did not revalue their currency. Check the link below.
Fact 15: Only pegged currencies revalue. It is a policy decision made by the central bank for that country. Floating currencies don’t revalue. The market determines the price.
Fact 16: Japan’s currency floats. It did not revalue in the 1980’s.The yen isn’t pegged so it wasn’t a revaluation. Second, the yen gained ground simply because the dollar was devalued as a cold war strategy in 1985. Although there were people who did make money from the yen, it was never because of a revaluation. This is known as the Plaza Accord
Fact 17: There is a feasibility study that circulates the dinar forums as proof of a coming revalue. Gurus claim that it is proof for a $1.13 to $1.17 revalue. Here is the study.
The truth is this study is from 1984. It is during the Saddam era and it predates both gulf wars. It also predates the hyper-inflation Iraq went through during the 1990’s. In addition to this, the Gulf Wars in Iraq did not devalue the currency. The currency went through hyper-inflation during the 1990’s as a result of overprinting and Saddam invalidating the Swiss dinar outside of country. (See dinar updates 5) This Study no longer applies!
Fact 18: Oil in Iraq is sold in dollars. It is not sold in dinar.
Fact 19: Iraq is not reducing the money supply. Check the CBI website
Fact 20: The U.S. Treasury does not have trillions of dinar. (check the BH indictment)
Fact 21: Executive order 13303 does not protect the dinar investor. (Once again check the BH Indictment) The U.S. government got a conviction for fraud based on the statements in Fact 20 and Fact 21. According to the Federal Government, It is illegal to import Iraqi dinar. Check the link below.
Fact 22: George Bush never said the war will pay for itself.
Fact 23: There was never an agreement for Iraq to compensate America for the war.
Fact 24: Dinar Gurus are being prosecuted for lying about this investment in order to make money off of unsuspecting people. The B.H. Group and David Olmsted serve as examples.
Fact 25: There are many more people who lied concerning the dinar. Tony TnT is just one of many people. In Fact a lot of gurus are multi-level marketers and they come from a questionable past. Check this link.
Fact 26: The B.H. indictment says that Iraq plans on redenominating their currency. They got convictions of fraud based on statements saying Iraq was going to revalue its currency. Check the indictment below
Fact 27: A revalue does not work in tiers. It does not occur in one country before it goes into another country. Revalues are global and they happen everywhere at once. Check Iraq’s history. Every time they changed the rate it was reflected the following day at the currency auctions. New rates go into effect immediately every where at once.
Fact 28: The dinar is the most lied about currency I have ever seen. There are a lot of scams associated with the dinar investment. Please note that this does not mean the dinar currency itself is a scam. It is valid and used in Iraq. The scam comes from people (dinar gurus) lying to sell the currency to foreign investors to make a huge profit from it.
Fact 29: The lower denominations were not printed in July of 2011 as the gurus claimed.
Fact 30: The dinar requires a reserve in order to give it value. The reserves for the dinar is the U.S. dollar. Currently there are not enough U.S. dollars (reserves) in Iraq to support a revalue to even a penny. Check the CBI website.
Fact 31: There is no coming Global Reset that will result in a revalue of the dinar. (article coming)
Fact 32: They don’t need to revalue the dinar in order to join the World Trade Organization (article coming with evidence)
Fact 33: The dinar cannot revalue according to the countries resources. There are not enough resources to back the dinar to even a dollar given the amount of Iraqi dinar in circulation.
Fact 34: There have been well over 70 redenominations in the past. In just about every case hyper-inflation happened as a result of over printing the currency. Redenominations happened both during hyper-inflation and years after hyper-inflation. Check out this study.
Fact 35: Removing the zeros is redenomination language not revalue language. Look at Turkey’s redenomination articles, and the study on redenomination above for examples.
Fact 36: Deleting the zeros does not mean pulling only the higher notes out of circulation. Once again this is redenomination language and it means changing out the entire series of notes. (See the link to the redenomination study)
Fact 37: When you go to Forex, (a currency exchange market) and you search for the Iraqi dinar. (IQD) They say the Iraqi dinar is going to redenominate. Furthermore Iraq announced a redenomination.
Fact 38: Currencies don’t work the same way as stocks and the stock market.
Fact 39: Some nations keep an artificially low value on their currency because it increases their exports which in turn provides jobs. The end result is a stronger economy. China can serve as this example.
Fact 40: Shabibi never said that they would have the most valuable currency … he said it would be the strongest and he was referring to it being backed 100%. Once again there is not enough reserves to revalue the dinar to a penny!
There it is. I have just listed 40 facts with links to back those facts. These facts are all true and you can base an opinion on them. Now it is important that when you form any belief or analysis that you get your facts straight. Forming an opinion based on guru lies or conspiracy theories can cause you to make the wrong choices in the end. If you believe in the revalue then you can put your fact in the comment area, but remember the burden of proof is on you.
The video below was made to sell dinar. In my view it is an effort to hype the currency. Now that you have had a chance to see the real facts pay close attention to so-called facts in the video.
People are getting hurt because of the type of hype you see in the video above. Families are being destroyed and people are selling everything they have to buy this crap based on the lies in the video. Dealers are cleaning up on dinar sales and that is the only wealth building going on!
If you watched this video then you know it is loaded with facts. They only problem is the facts are all wrong. For example it called Turkey’s redenomination a revalue. So you did your homework. So you studied facts. That does not mean you know what is going to happen. Remember that is only your opinion. In the end only time will tell whose opinion is right and who’s opinion is wrong, and that’s a fact jack!