In my last article I gave 40 facts about the Iraqi dinar. These facts were meant to debunk a video that had a lot of wrong information. The video is now pulled down and no one has access to it anymore. This is a good thing. The video made wild claims. It said that Turkey revalued their currency. The video also said that Japan and Kuwait revalued their currencies. My post was just an effort to set the record straight. The article is called That’s a Fact Jack.
Baghdad Invest copied the article to their site. A lot of people commented and the discussion was great. As a result more people became familiar with the fact list. The fact list was arranged in a way so that when people saw the video they would recognize the things it said were untrue. That is why the video was at the bottom of the facts list. You got the facts first then you watched the video. People could see the truth and then when they saw the video they would identify all the wrong information.
A man named Stryker copied my whole article to his site. He also responded to each of the 40 facts I listed. He invited me to come on his show and debate these facts with him. I watch both of his videos and seen his response.
I am of the opinion that any discussion will not be civil. While I respect Stryker’s point of view I don’t feel like he would respect mine. In his video he was very condescending. He acted like I wrote the article and put his name on it. He acted like the whole thing was addressed to him. He was offended, He was rude, and he was arrogant as well as insulting. He was quite bitter and vindictive especially at the end where he talks about speaking to his “buddy” about my use of the phrase that’s a fact jack.
For these reasons I don’t feel like we could have a civil discussion. I don’t think anything will be accomplished. I am not upset with this guy and I actually like him, but I think he would be too emotional. If we can’t just talk about the facts in a friendly way then there would be no point! I remember him from my time at Dinar Vets. He has been around a while. We got along fine and I had respect for him back in the day. In fact we were friendly towards each other back then. I also understand his frustration.
To be fair Stryker was offended because I used terms like Gurus claim that. He was upset with me because he thought I lumped everyone into the same category. This is not the case. I did not say All Gurus or All Dealers are dishonest. I was not all inclusive because that is simply not the case. I did not single anyone out with the exception of Tony TnT, which I will clarify later. Nothing in that article was directed at Stryker or at anyone he may represent. He was offended at comments that were not directed towards him or his research team. Stryker did have some misconceptions about my facts that I want to clear up now
1. In the first video he seems to think that Baghdad Invest wrote the article. I think he figured it out by the end of the next video. But in the first video he seemed to address Baghdad Invest as the author
2. He said that I was hiding under a user name. Once again I think he was thinking of Baghdad Invest when he said that. I am not hiding. Google Iraq Currency Watch and my name come up. Google my name and Iraq Currency watch comes up. Everyone knows where I am and who I am. It is not hard to find me.
3. He seems to imply in his first video that I said the currency is a scam. That is not the case. The dinar is not a scam in and of itself. There are people using the dinar to operate scams. But I will qualify this later when we get into the facts
4. Stryker questioned the agenda of the author which is me. I believe at this time he assumed Baghdad Invest (B.I.) wrote this when all they did was copy my article and link to it. As for my personal agenda I don’t have any ads on my site that generate any compensation. The reason for the ad toward the bottom of the page is simple. It is placed there by the blog host to generate revenue for the server not me. There are no donate buttons. I have never ever made 1 dime from this whole thing. My opinion is not purchased and it can’t be paid for. I don’t sell other products on this site. So money is not the agenda and no one pays me. My only agenda is the truth, that’s it.
5. He seems to question why certain facts where in the list. And in some of his comments I could see that he did not understand why I was stating certain facts. He seemed unclear of the points I was making and the reason for certain links. In spite of his venting toward me I still like this guy. We probably even have similar political views. I am willing to bet that there are others who had problems understanding my points as well. So for the sake of clarity I will go through each fact in more detail in an effort to provide some clarity. I will address each video Stryker made. It is my hope that this will clear up any confusion.
The facts from the previous article will be BLUE. Stryker’s response will be PURPLE. My clarification will be BLACK and very important points will be RED.
Fact 1: Currently there is over 34 trillion Iraqi dinar in circulation outside of the banks. That’s Trillion with a T!
Stryker says that some articles in Iraq say 34 trillion and some say 35 trillion.
My numbers don’t come from articles. They come straight from the CBI. I said over 34 trillion and did not use an exact number.
Fact 2: The CBI has over 71 trillion Iraqi dinar in there M1 money supply. Check the CBI website
Stryker says that I believe the government is transparent.
The truth is I believe the numbers from the CBI. Not the news articles.
Fact 3: The CBI has over 85 trillion Iraqi dinar in their M2 money supply. Check the CBI website.
Stryker thinks the CBI is not truthful and they are not giving accurate numbers.
All these numbers I got from the CBI website. They are in a document called key financial indicators. You can go to the CBI website and download the document. It is an excel document. That is what I base these first 3 facts on.
Fact 4: America’s total M2 money supply is only 11 trillion. There is not enough to cover a revalue to even a dollar.
Stryker said that if you take 1 dollar out of circulation you are removing 1166 dinar out of circulation. It is an artificial economy.
I would challenge anyone. Go to google and type in United States money supply M2. I am not really sure what Stryker’s point has got to do with only 11 trillion U.S. dollars in circulation? The term I believe he is thinking of is dollarized or currency substitution. Here is a link.
Fact 5: In all of history there has never been a revalue above 50 percent. NEVER!
Stryker agrees with me on this one.
Fact 6: If the dinar were to revalue to 1 penny that would be a 1,000 percent revalue given the current exchange rate.
To answer this Stryker goes into a rant about currency before the war the difference in oil prices before the war and now. He covers a few other points.
None of his points invalidate this fact. None of his points have anything to do with this fact.
Fact 7: If the Dinar were to revalue to 1 dollar that would be 100,000 percent revalue given the current exchange rate.
Stryker says that the dinar will be a reserve currency and there will be about 25 billion in circulation in Iraq.
This does not even rebut Fact 7 and it is speculation at best.
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.
Instead of addressing this one Stryker thanks me. He says thanks for the lesson fact boy.
It’s nice to know that all my hard work is finally being appreciated. Thank You Stryker.
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,
Stryker gets on a soap box about my use of the word scam. Later on he criticizes me for using an article in my blog as proof for this fact.
If Stryker had taken the time to click on the link he would have found out that link is an article I wrote that contains third-party links which in turn verified that fact. The article explains everything about that fact in much more detail. So let me provide some third-party links now. I will not use my site at all.
There are three links and you will find more if you use Google. The link below is an ongoing lawsuit that says this current dinar scam has been going on since the first gulf war. This assessment is from the prosecuting attorney for another law suit under way in Ohio.
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
The link I provided above is a Wiki leaks document. This is an official government report from the embassy in Baghdad. Let me just quote the important stuff so you don’t have to read the whole thing.
“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”.
The point is there are no treaties or laws in place between Iraq and America that demand Iraq honors it’s currency outside of it’s borders. I will go into much more detail in my next article.
Fact 11: A redenomination would strengthen the dinar and drastically reduce the amount of currency in circulation.
Stryker says that this is surface research only. (not sure what he means by this)
My research is pretty detailed and the fact is not debunked by making fun of my research abilities.
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)
Stryker says that is the reason for so many studies.
Hopefully I can give Iraq a tip and this will save them some money and they won’t need to conduct any more studies. Here is the tip.
IF YOU WANT A STRONG CURRENCY THEN DON’T TAKE 85,000,000,000,000. DINAR THAT IS CURRENTLY WORTH 1166 TO A $1.00 AND MAKE EACH DINAR WORTH $1.00
There you go, no need for any more studies. Hope that helps. This number is taken from their M2 supply. However the same holds true for their M0 supply.
Fact 13: There was never a Kuwaiti revalue after the gulf war. Check the Kuwaiti Central Bank Website. Look at Wikipedia. and Check the link below.
Stryker said I got this one right, but I was speaking in half facts. He asked what my point was
Ok my point is simple. The video that this fact was addressing says that there was a Kuwaiti Revalue, second the Kuwaiti dinar fell and rose again due to market speculation. It had nothing to do with a revalue of the currency.
Some gurus in the past used Kuwait as a comparison to what Iraq’s currency is going to do and why Iraq’s currency will revalue. This is not the same thing. Kuwait was a market driven event. Any revalue is a policy driven event done by the central bank. Kuwait’s dinar history provides no evidence what so ever of a coming Iraqi revalue of even 1000 percent. That’s my point!
Stryker started with fact 13 even though he covered it in the last video. He said I was speaking in half facts again.
Fact 14: In 2005 Turkey went through a redenomination with their currency. (TURKISH LIRA) They did not revalue their currency. Check the link below.
Once again Stryker asks what’s my point?
The point is this. The video I was debunking said that the Turkish Lira revalued. The fact was addressing the video and that was the reason for the link. If he had taken the time to watch the video he would have known that.
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.
Once again Stryker asks what is my point? and once again this point is meant to address the video.
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
Stryker says that Japan has nothing to do with the dinar and that no Guru even mentions Japan.
Once again this fact addresses the video. This is because the video says that Japans floating currency revalued. The video showed this as proof that Iraq’s currency was certain to revalue because Japans currency did the same thing.
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!
Stryker says that Iraq did not have hyperinflation in the 90’s. He says it was a combination of 3 things.
Please note the following link.
Scroll down to see Iraq’s hyper- inflation. You will see hyper-inflation happened between the years 1987 to 1995. That equates to approximately 315% inflation per year averaged over that eight-year period. I guess because I did not include the years 87, 88, and 89 I was only using a half fact. The truth is this study still predates hyper-inflation and it does not invalidate that fact!
Fact 18: Oil in Iraq is sold in dollars. It is not sold in dinar.
Stryker asks what does that fact have to do with the revalue of the dinar?
I found that question odd because later on he makes a case for assets possibly backing the currency and throughout the video talks about Iraq’s oil supply as if it is going to have something to do with the new rate. Maybe I just don’t understand his point.
Fact 19: Iraq is not reducing the money supply. Check the CBI website
Here Stryker says that I do no real research. He says he looks at articles that say Iraq keeps money in vaults outside of banks waiting to be destroyed. He claims you can’t trust everything the banks tell you.
This is one of the fundamental differences between my belief and Stryker’s. My fact is based on the central banks numbers. Line 79 of the Key financial indicators says that Iraq has 34 trillion 466 billion outside of banks as of this writing. This is not money waiting in vaults to be destroyed.
This is money that went to the public banking system and has been released into circulation. Stryker raises a good point when he talks about the dollar. His point about Iraq being dollarized and not that many dinar in circulation could be true.
There is a lot of dinar outside of Iraq. I don’t have exact circulation numbers but trillions left the country. That would make up for any lack of dinar inside of Iraq if there is one.
Fact 20: The U.S. Treasury does not have trillions of dinar. (check the BH indictment)
Here Stryker says I have no real research and that I do not know for sure.
The problem is I do have some real research and I will show it to you in a minute. This same evidence covers fact 21, and 22.
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.
He agreed with me on this but he says no one said 13303 protected the investor.
Stryker should know that this is one of the forum facts that circulated D.V. back when I was there. Everyone believed that 13303 protected people who purchased dinar. It was also on dealers websites. Keep in mind that I am not implying that every dealer had this on their site. I am not going to name any dealer or any guru. I am not going after anyone. I only want the truth.
Stryker thinks because I say dealers I mean all dealers. He thinks if I say Gurus I mean all Gurus. That is simply not the case. I am not lumping everyone together. This is a misunderstanding on his part.
Stryker did not agree with the statement about importing Iraqi dinar is illegal. He asked the question, what proof do I have? Check out this link.
Stryker seen this link at the end of fact 26 and he criticized it for saying real scam. If he had taken the time to click on the link like us surface researchers do then he would have discovered that a download would have opened. He could have downloaded the entire B.H. Indictment unedited as it was submitted to the court. Those who have been involved in the dinar community for any length of time need no introduction. For those who do need an introduction I will allow this indictment to do that. So I am going to quote directly from this document. You can download it and compare it to the statements below to see if I am being truthful.
The “BH Group” was formed by BRADFORD HUEBNER to market and sell the Iraqi official currency, the “dinar,” to individuals as an investment.
BRADFORD HUEBNER filed paperwork registering the BH Group as a money service business specializing in the sale of Iraqi dinar.
CHARLES N. EMMENECKER is a self-styled entrepreneur who resides in Sylvania, Ohio. In recent years, CHARLES EMMENECKER has primarily marketed and sold a health related beverage described as “Xango.” In August 2010, CHARLES EMMENECKER merged his direct-marketing business with BRADFORD HUEBNER’s dinar business, which BRADFORD HUEBNER and MICHAEL TEADT were operating. By this time, BRADFORD HUEBNER had allied himself with a Jacksonville, Florida based resident by the name of RUDOLPH COENEN, in connection with marketing two non-existent “hedge funds” to both the BH Group’s dinar customers, as well as CHARLES EMMENECKER’s Xango distribution list.
MICHAEL TEADT entered into a conspiracy with BRADFORD HUEBNER regarding the sale oflraqi dinar currency in July 2010.
5. RUDOLPH M. COENEN is a resident of Jacksonville, Florida and holds himself out as a currency expert and former Vice President at JP Morgan Chase. RUDOLPH COENEN has variously claimed to be a former Marine who was wounded in combat during the first Gulf War, as well as a Purple Heart recipient. In fact, RUDOLPH COENEN worked for JP Morgan Chase for a total of one day as an Account Executive/Loan Officer and not as a Vice President, never served in the first Gulf War, was never wounded in combat, and never received a Purple Heart. RUDOLPH COENEN was instrumental in developing materially false and misleading statements regarding the Iraqi dinar currency and in falsifying information regarding the two non-existent hedge funds.
14. BRADFORD HUEBNER, RUDOLPH COENEN, CHARLES EMMENECKER, and MICHAEL TEADT often discussed during weekly telephone conference calls with potential investors, Executive Order 13303 which they alleged to protect the right of U.S. citizens who invest in Iraqi dinar currency. In fact, Executive Order 13303 protects assets of the Development Fund of lraq (DFI) and other Iraqi assets from legal attachments or liens. The Coalition Provisional Authority created the DFI in 2003 in order to promote the transparent use of Iraqi funds for purposes benefiting the people of lraq. Any assertion that Executive Order 13303 promotes, protects, or regulates the sale of, or investment in, Iraqi dinar is false.
15. BRADFORD HUEBNER, RUDOLPH COENEN, CHARLES EMMENECKER, and MICHAEL TEADT often discussed during weekly telephone conference calls with potential investors, the U.S. Department of the Treasury holding the Iraqi dinar, further alleging the Department of the Treasury held trillions of lraqi dinar for investment purposes. In fact, the U.S. Department of the Treasury does not hold any Iraqi dinar for investment purposes and holds only a nominal amount for use in daily operations. It was further the purpose and object of the conspiracy that BRADFORD HUEBNER,
Now look at this link. It is from U.S. Customs and the Department of Homeland Security
I am going to quote directly from homeland security and customs using their link.
According to court documents, Olmsted arranged for shipments of Iraqi dinars, the country’s currency, to be sent from the country of Jordan to the United States in split shipments in February 2011. He had previously been federally licensed to conduct foreign currency transactions in 2004 and 2006, but his license lapsed in 2008. Also, importing Iraqi currency is against federal law.”
Now this part is important. I did not say that importing Iraqi dinar is illegal. I said According to the Government importing Iraqi dinar is illegal. Also according to the government they don’t have trillions of dinars for investment. I am not saying this at all. The government is.
It is also important to note that I don’t know if they have also including Iraq Currency law in their indictment. The indictment could be referencing Iraq currency law too. (which I have and studied)
Here is a man they convicted for fraud just for making these statements. Check this link out
So as you can see these facts are accurate. That is why they are included. They are not made up and there is evidence to support them.
Fact 22: George Bush never said the war will pay for itself.
Stryker said that Dick Cheney said it or Donald Rumsfeld said it. He said it was a half fact because someone said it.
The truth is this was another forum fact that circulated the forum back when I was at Dinar Vets. People said that George Bush said the war would pay for itself. It was implied that Bush was hinting about a revalue of the Iraqi dinar and it was part of some great plan. The only problem is no one ever said it. The Bush Administration said oil revenues in Iraq will help pay to rebuild the country. Check out these links.
This somehow evolved into Bush said the war will pay for itself. It circulated the forums as fact with no links or sound bites. No proof what so ever.
Fact 23: There was never an agreement for Iraq to compensate America for the war.
Stryker agreed with this assessment, but wondered why I brought it up.
This was another forum fact that was around in 2010-2011. This was just one of the many rumors told to sell dinar. It usually went along with Bush said the war would pay for itself. This whole thing gave credence to something called the plan. These were all rumors and lies. Stryker should know this.
Here are 3 threads where people claim the war costs must be repaid.
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.
Stryker claims that the B.H. group was busted due to hedge funds and it had nothing to do with the dinar. I would say read the indictment and decide for yourself.
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.
Stryker says I cannot say he is a liar unless I have proof.
Well I would say click on the Facebook link. Read it and then click on the links within the Facebook link.
Google 14 daily plus and Anthony Renfrow just to see what comes up. You can also click the links below.
His brother Ray was indicted too
Both men pedal dinar together and make major bucks from conference calls according to this link.
There is much more on the internet concerning this man. This is just the tip of the iceberg.
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
Stryker criticized the link because it said real scam.
Once again, just click on it and instead of a webpage opening up a download happens. You can download the whole B.H. indictment. Let me quote directly from the indictment.
7. The term “revaluation” (casually shortened to “RV” in dinar-sales parlance), refers to the contention that at some point in the near future, the dinar will rise against the U.S. dollar, a circumstance which will enrich earlier purchasers of the dinar. BRADFORD HUEBNER, CHARLES EMMENECKER, RUDOLPH COENEN and MICHAEL TEADT repeatedly advanced claims to potential investors over the telephone, through web pages, and through a weekly internet conference call that even relatively small investors in the dinar would, following the “revaluation” or “RV,” become wealthy overnight.
8. A “redenomination” of the dinar refers to an actual proposal by the Central Bank of Iraq, announced as recently as June 21, 2011, to re-print the currency to remove three zeroes from the physical dinar banknotes as a matter of convenience. A redenomination of the Iraqi currency would not lead to a revaluation by the same amount, and may have no effect on the currency’s value. Under a redenomination, a new currency replaces an old currency, but the value remains the same. Under the proposed redenomination, the Iraqi government would issue a new dinar note that will be equivalent to 1000 current dinars. The exchange rate would be 1.17 new dinars to the dollar, equivalent to 1,170 current dinars to the dollar.
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 everywhere at once.
I am not really sure of Stryker’s point is here but this is modern money mechanics. I never said that pegged currencies don’t revalue, or that revalues never happen. I said that historically speaking there has never been a revalue above 50 percent.
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.
On this point Stryker says that I am declaring everyone is a pumper. Everyone is a scammer.
This is not the case. I don’t create a list of names or say where these rumors come from. I just go after the rumor itself. Not everyone involved in the dinar is dishonest and that is not what I am trying to communicate here.
My observation is there is an element in the dinar community that is based on rumors and lies. I am not accusing anyone except those who have already been indicted, and even then I am only repeating things directly from the indictments.
Fact 29: The lower denominations were not printed in July of 2011 as the gurus claimed.
Here Stryker claims I got my dates wrong. He goes into different explanations about the new currency.
When I first joined the dinar community in 2010 It was always said that the lower denominations were already printed for the revalue. This rumor circulated often and everyone including myself believed it until these articles came out
These articles came out in July of 2011. They say that Iraq is going to redenominate their currency. Then they say that when they print the new lower denominations they are going to add Kurdish symbols to it.
This shattered the rumor that the lower denominations were already printed which everyone in the dinar community believed at the time. This is when I first began to seriously doubt this investment. Shortly after this I closed down Iraq Currency Watch.
Here are 3 threads that contain claims that the lower denominations were already printed before July 2011.
This also adds credibility to the term Forum Fact.
Fact 30: The dinar requires a reserve in order to give it value. The reserves for the dinar are 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.
Stryker goes into an explanation about the DFI funds may become part of the reserves and how 13303 protects the DFI funds
Just for the record currency reserves and oil reserves are two different things. One has nothing to do with the other. It does not matter how much oil Iraq has. The currency is not backed by Iraq’s resources. It is backed by the reserves the central bank has. The DFI funds are intended to be used for rebuilding Iraq. Any assertion that part of these funds will go into the central bank’s reserves is pure speculation at best and not based on fact. The current reserve amount can be found at the central bank. I go by those numbers.
Fact 31: There is no coming Global Reset that will result in a revalue of the dinar. (article coming)
His response to this was to claim that George H Bush said this or maybe it was Reagan.
President Bush said there is going to be a New World Order. He was speaking about holding nations accountable. He was not talking about currency rearranging itself.
Fact 32: They don’t need to revalue the dinar in order to join the World Trade Organization (article coming with evidence)
On this Stryker comments on researching IMF documents.
I don’t know how he concludes that I am not looking at those documents along with GATT and World Trade Organization documents. This research is still going on. I never say anything without supporting links unless I am speaking from an opinion. Even then I give supporting facts. There were only two facts where I said article coming. Then I will present my evidence. You can decide then if I am right or wrong.
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.
Once again Stryker says I have faith in the CBI
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.
Stryker says that this is an education on currencies that have nothing to do with the Iraqi dinar. He then cites all the resources Iraq has including oil resources.
This is the reason for Fact 18. The resources in Iraq have nothing to do with the currency! The two things that directly affect the currency is the amount they have in circulation and the reserves that are in possession of the CBI that are used to back that currency. The oil reserves don’t back the currency.
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.
Here Stryker says that Turkey has different Resources and it is different entirely.
This fact was meant to address the video which says that Turkey revalued their currency. A country’s resources are totally different from the country’s currency. National resources do not back currencies. Reserves at a central bank backs currencies
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)
Here Stryker claims that they are speculating on a revalue before they redenominate.
I think if both happen it will be the other way around. Even so, his opinion does not make this fact void. Read redenomination language and you will see terms like Deleting the Zeros, Removing the Zeros, pulling higher notes out of circulation. This is evidence for a redenomination not evidence for a revalue.
Simply look at the 3rd video In D.C Where Shabibi said deleting the zeros means redenomination
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.
On this fact Stryker says that it is someone’s opinion on Forex.
I made a mistake on this fact. I meant XE says the currency will redenominate. Forex does not say this. When you search Forex for the Iraqi dinar it really says that it does not trade with the IQD at this time. As far as XE goes, it is a disclaimer put out by xe.com. Check it out and see. I am sorry for this slip up. Yes sometimes I make mistakes. Let me correct this fact.
Fact 37: When you go to XE and search for the Iraqi dinar the site says the dinar is going to redenominate. It is a disclaimer based on Iraq’s announcement.
Fact 38: Currencies don’t work the same way as stocks and the stock market.
Stryker asks what is the point of this fact?
This fact was included due to the many comparisons of currency to stock. These Forum facts also circulated the forums.
This link below reveals that the B.H. Group has said this before. The link also shows more light in the ongoing prosecution. It is a 3 page article.
Fact 39: Some nations keep an artificially low value on their currency because it increases their exports which in turn provide jobs. The end result is a stronger economy. China can serve as this example.
This fact is a conclusion that backs up fact 38 and that’s why it is included.
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!
Stryker claims Shabibi never said this but the link below totally debunks this claim.
Stryker was pretty angry with me for writing this piece. It is clear that he tried to rebut the things I said without researching the links that I posted. He made a lot of assumptions during his rebuttal that are not true. He called me names and mocks my research. He called me Bozo more than a few times, and in a mocking way he referred to me as fact boy. He went on a rant several times and declared how superior his research was to mine even though he never took the time to clearly understand the reason behind some of the facts or research the links.
To be fair I don’t blame him for his reaction. I was once a dinar investor myself. I had millions of dinar. I was pretty mad when I found out about those facts that I listed. When this happens you are forced to face a totally different reality. I have been called a lot worse since I brought Iraq Currency Watch back. I remember Stryker from the days I hung out at Dinar Vets. He was always a decent man and we got along fine. My opinion of him has not changed and I still respect his point of view. That is why I have not attacked him. I just disagree with him. I believe the truth needs no defense.
Our disagreement basically boils down to one thing. He does not believe the numbers that the CBI puts out there. I totally believe the numbers that the CBI puts out. The CBI is a member of the IMF and BIS. They have to give an account to these global organizations and they are under a microscope. They have adopted a policy of transparency see the link below.
If you think the central bank is being deceitful and they are not reporting real numbers, then why would you want to invest in their currency in the first place? What makes you think they are going to treat you in a fair manner? If you invested in the Iraqi dinar then this is my advice. Don’t take my word for anything. Don’t take Stryker’s word for anything. Click on the links and do your own research. Reach your own conclusions. Let that determine your course of action!
Just for the record I am not a liberal. I am a conservative. I am a capitalist and I have nothing against a guy making an honest living, but in a lot of cases the dinar investment isn’t based on honesty. In my last article I said the only ones building wealth were the dealers. The reason why I said that was because the video I was debunking showed all these redenominations. It presented them as revalues. Then it talks about wealth building by purchasing the Iraqi dinar. This was dishonest so I addressed it. If Stryker had taken the time to watch the video he would have known this.