This is the second part of the discussion I had with Sam I Am as to why the dinar can never revalue like the gurus claim. Hold on to your hats and buckle up because now we are going deeper into this subject. We will discuss hidden strengths within the dollar that most people don’t seem to know about and we also talk about the reserves that back the dinar. What actually gives the dinar value? We have already learned that it is not oil.
If you are an investor and you were upset with the information in the last Podcast be prepared! This time your cage is really going to be rattled! Sometimes the truth is hard to accept, but we need to see everything in its proper place and in its proper role. So listen at your own risk and don’t shoot the messenger.
We will also go into gold and briefly cover the GCR. We will talk about conspiracy theories that keep this scam afloat. There are many aspects to this dinar scam and it is really a complicated mess. So now is your chance to get the facts. Most of this information can be found in my book The Truth About The Coming Global Currency Reset.
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Recorded on February 18th 2016
Remember that you can meet us over at Dinar Daily. Come talk with Sam or myself. Talk with all the Guru Hunters and get the facts. If you want more information about the things we talked about check out the book The Truth About The Coming Global Currency Reset. If You want more information about gold and silver click on the Gold and silver links below.
Iraq Currency Watch 
February 25, 2016 at 2:17 AM
First of all, you’re right about the fact that we have no credentials in economics or currency speculation. That’s why we have provided links to dozens of organizations that have called the dinar investment a scam, including the BBB, the DOJ, BOA, Wells Fargo, the state of Utah, and writers from Forbes Magazine among others. To date I haven’t heard one reputable, qualified investment expert refer to the dinar investment as legit.
SAM…U R A LURKER AT NUMEROUS SITES. I CONCEDE THAT THE MAJORITY ‘DINAR SITES’ R CESS-POOLS OF DECEPTION. IF I HAD SPENT MY TIME CRUISIN THE SWAMPS THESE PAST YEARS, I TOO WOULD BE AN ALLIGATOR AND COTTON-MOUTH EXPERT LIKE YOU. I YIELD THE TROPHY FOR ‘BEST SUPPORTING JUSTIFICATION OF DINAR FRAUD’. BUTT I FIND SUSPECT YOUR CONTENTION THAT ANY MONEY-CENTER-INSTITUTION IS NOTE WORTHY AS A FOUNDATION OF INTEGRITY/COHESION. AFTER ALL….EVEN MY FATHER TOOK A SHOWER EACH NIGHT TO DISINFECT. AS FAR AS DOJ OR FORBES…..DON’T THEY MAKE-UP ALPHABET SOUP?
SAM…NO THINKING PERSON CAN LOGICALLY OR RATIONALLY DENOUNCE THE SIGNIFICANCE OF RIGHT AND WRONG. LIFE MUST HAVE EXPLICIT VALUES OF BLACK AND WHITE. EVERYTHING CANNOT BE GRAY…….BUTT INVESTMENTS FALL INTO THE MAJORITY GRAY. WE’D ALL BE RICH OTHERWISE!!!!!!!
I BELIEVE IT IS TRUE THAT DURING A DEBATE ON AN ISSUE, IF U SIMPLY POINT OUT TO YOUR OPPONENT A LOGICAL FALLACY THEY HAVE JUST MADE, IT GENERALLY GIVES U THE UPPER HAND. YET, MERELY HAVING THE UPPER HAND IS NOT THE GOAL……TRUTH IS. NEVERTHELESS, LOGICAL FALLACIES HIDE THE TRUTH, SO POINTING THEM OUT IS VERY USEFUL.
WE CAN SPEND OUR LIVES DEFINING AND REDEFINING THINGS AS WE TRY TO APPROACH A GOAL BUT IT ACTUALLY PREVENTS US FROM ARRIVING AT THAT GOAL. UNFORTUNATELY, THIS IS WHAT PHILOSOPHY DOES AT TIMES IN SEEKING TO EXAMINE TRUTH. IT CAN CLOUD ISSUES SO MUCH THAT NOTHING CAN BE KNOWN FOR SURE.
GENTS, IN ORDER FOR TRUTH TO BE DEFINED PROPERLY, IT WOULD HAVE TO BE FACTUALLY/LOGICALLY CORRECT. IN OTHER WORDS, IT WOULD HAVE TO BE TRUE. PERHAPS WE CAN DETERMINE WHAT IT IS NOT. TRUTH IS NOT ERROR. TRUTH IS NOT SELF-CONTRADICTORY NOR DECEPTION. SURE, IT’S TRUE SOMEONE CAN BE DECEPTIVE…..BUTT DECEPTION …..AIN’T A PRODUCT OF TRUTH.
WOULD IT BE A TRUTHFUL STATEMENT?
NEITHER OF YOU GENTLEMEN HAS EVER PARTICIPATED IN ANY ‘CURRENCY TRADE TRANSACTION’..NOR INVESTMENT OF THIS NATURE.
WHAT ABOUT?
YOU DO NOT KNOW OF ANY INDIVIDUALS THAT HAVE GAINED/LOST IN A TRANSACTION BROUGHT TO COMPLETION. WHY NOT?
AND?
THE IRAQI DINAR [NOT SADDAM DINAR] IS A LEGITIMATE EXOTIC/THIRD WORLD CURRENCY. IT DOES EXIST.
SOMETHING CANNOT BRING ITSELF INTO EXISTENCE.
FINAL TRUTHFUL STATEMENT:
ANY COMMENTS ON THIS SITE BY EITHER FORUM MANDATES OR PARTICIPANTS ARE OPINIONS ONLY……TRUE OR FALSE
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SAM…U R A LURKER AT NUMEROUS SITES. I CONCEDE THAT THE MAJORITY ‘DINAR SITES’ R CESS-POOLS OF DECEPTION. IF I HAD SPENT MY TIME CRUISIN THE SWAMPS THESE PAST YEARS, I TOO WOULD BE AN ALLIGATOR AND COTTON-MOUTH EXPERT LIKE YOU. I YIELD THE TROPHY FOR ‘BEST SUPPORTING JUSTIFICATION OF DINAR FRAUD’. BUTT I FIND SUSPECT YOUR CONTENTION THAT ANY MONEY-CENTER-INSTITUTION IS NOTE WORTHY AS A FOUNDATION OF INTEGRITY/COHESION. AFTER ALL….EVEN MY FATHER TOOK A SHOWER EACH NIGHT TO DISINFECT. AS FAR AS DOJ OR FORBES…..DON’T THEY MAKE-UP ALPHABET SOUP?
SAM…NO THINKING PERSON CAN LOGICALLY OR RATIONALLY DENOUNCE THE SIGNIFICANCE OF RIGHT AND WRONG. LIFE MUST HAVE EXPLICIT VALUES OF BLACK AND WHITE. EVERYTHING CANNOT BE GRAY…….BUTT INVESTMENTS FALL INTO THE MAJORITY GRAY. WE’D ALL BE RICH OTHERWISE!!!!!!!
-Maybe investments do, but investment scams don’t. Scams are perpetrated by liars who sell the investment under fraudulent claims, which is certainly the case with the IQD.
I BELIEVE IT IS TRUE THAT DURING A DEBATE ON AN ISSUE, IF U SIMPLY POINT OUT TO YOUR OPPONENT A LOGICAL FALLACY THEY HAVE JUST MADE, IT GENERALLY GIVES U THE UPPER HAND. YET, MERELY HAVING THE UPPER HAND IS NOT THE GOAL……TRUTH IS. NEVERTHELESS, LOGICAL FALLACIES HIDE THE TRUTH, SO POINTING THEM OUT IS VERY USEFUL.
WE CAN SPEND OUR LIVES DEFINING AND REDEFINING THINGS AS WE TRY TO APPROACH A GOAL BUT IT ACTUALLY PREVENTS US FROM ARRIVING AT THAT GOAL. UNFORTUNATELY, THIS IS WHAT PHILOSOPHY DOES AT TIMES IN SEEKING TO EXAMINE TRUTH. IT CAN CLOUD ISSUES SO MUCH THAT NOTHING CAN BE KNOWN FOR SURE.
GENTS, IN ORDER FOR TRUTH TO BE DEFINED PROPERLY, IT WOULD HAVE TO BE FACTUALLY/LOGICALLY CORRECT. IN OTHER WORDS, IT WOULD HAVE TO BE TRUE. PERHAPS WE CAN DETERMINE WHAT IT IS NOT. TRUTH IS NOT ERROR. TRUTH IS NOT SELF-CONTRADICTORY NOR DECEPTION. SURE, IT’S TRUE SOMEONE CAN BE DECEPTIVE…..BUTT DECEPTION …..AIN’T A PRODUCT OF TRUTH.
WOULD IT BE A TRUTHFUL STATEMENT?
-I’m not sure what you’re trying to say here so I don’t know how to respond. I guess you’re saying that we presented a logical error somewhere that clouds the issue, butt [SIC] I don’t see where we did that.
NEITHER OF YOU GENTLEMEN HAS EVER PARTICIPATED IN ANY ‘CURRENCY TRADE TRANSACTION’..NOR INVESTMENT OF THIS NATURE.
WHAT ABOUT?
YOU DO NOT KNOW OF ANY INDIVIDUALS THAT HAVE GAINED/LOST IN A TRANSACTION BROUGHT TO COMPLETION. WHY NOT?
-Actually I have spoken to a few people who bought dinar early on and managed to make a few bucks. That’s not the point. I never claimed that it’s impossible to make a profit by owning dinar. I said that nobody is going to get rich through a revaluation of 100,000% or more and I stand by that statement. Very few people bought dinar hoping to make a 5% annual return. People buy it because they’re told that they’ll be rich after the RV, and that’s a lie.
AND?
THE IRAQI DINAR [NOT SADDAM DINAR] IS A LEGITIMATE EXOTIC/THIRD WORLD CURRENCY. IT DOES EXIST.
-So does the Mexican peso, but nobody’s going to get rich when the peso revalues, either.
SOMETHING CANNOT BRING ITSELF INTO EXISTENCE.
-No argument there, but that’s a statement that belongs in a debate with an atheist over the origin of the universe. I have a Christian apologetics site where those issues are discussed but I don’t see how that applies here.
FINAL TRUTHFUL STATEMENT:
ANY COMMENTS ON THIS SITE BY EITHER FORUM MANDATES OR PARTICIPANTS ARE OPINIONS ONLY……TRUE OR FALSE
-False. It’s not an opinion that the IQD is a pegged currency. It’s not an opinion that it’s backed by Iraq’s foreign currency reserves of about $57 billion. https://en.wikipedia.org/wiki/List_of_countries_by_foreign-exchange_reserves It’s not an opinion that their money supply is about 35 trillion dinar outside of banks, 65 trillion for their M1, and 80 trillion for their M2. http://www.cbi.iq/documents/key%20financial.xls Those are facts, and if you can do basic math you can easily conclude that a substantial revaluation isn’t possible.
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“NEITHER OF YOU GENTLEMEN HAS EVER PARTICIPATED IN ANY ‘CURRENCY TRADE TRANSACTION’..NOR INVESTMENT OF THIS NATURE”
You assume to know a great deal about us. This is not true. In addition I have some investments in mutual funds and other stocks as well. Plus gold and silver.
YOU DO NOT KNOW OF ANY INDIVIDUALS THAT HAVE GAINED/LOST IN A TRANSACTION BROUGHT TO COMPLETION. WHY NOT?
Once again not true.
AS FAR AS DOJ OR FORBES…..DON’T THEY MAKE-UP ALPHABET SOUP?
Neither one of these groups specialize in making soup sir.
THE IRAQI DINAR [NOT SADDAM DINAR] IS A LEGITIMATE EXOTIC/THIRD WORLD CURRENCY. IT DOES EXIST.
I think third world currency is the key here. Just because it is the official currency for use in Iraq does not mean that your going to make a bunch of money by investing in it.
ANY COMMENTS ON THIS SITE BY EITHER FORUM MANDATES OR PARTICIPANTS ARE OPINIONS ONLY……TRUE OR FALSE
Not at all true. Some people leave comments that are based on opinion. Some people leave financial data that is based on fact. It sounds like you have a hard time discerning what our opinions are and the facts that are stated within Blog posts, comments and Podcasts, but we will be happy to clarify the difference for you.
Just in case you did not know I think your keyboard may be broken. The caps lock button seems to be stuck.
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While overall I agree with everything in the Podcast, there is just one little area I would take exception to (having really nothing to do with Dinar). That is the idea of digital money and being “chipped”. First just a little detail I think it was Marcus that mentioned that this is Infra-Red technology and that’s generally not the case. An RFID chip is just radio and usually in the same frequency range is TV or conventional Radio (a few Mega hertz). They are in many things like credit cards, and transportation cards (the Clipper in the Bay area), and company badges and the little grain of rice sized things that you can get inserted under the skin in your pet to provide your name and address if Fido gets lost. So they don’t directly have anything to do with currency, its just a way of passing information around between two things, usually something portable (like the card) and a reader.
I do know of a case or two where people have gotten “chipped” and used it to do things like open their locks and so on, but as yet you can not do financial transactions with such a self inserted chip. Now I agree that governments would like to go to digital currency and many folks are already doing so. This is conventional dollars, but just recorded digitally just like you do when your company pays you directly into your bank account and you pay bills the same way. Not to be confused with crypto-currency like bitcoins that are an entirely different means of recording transactions. So what we are seeing today really isn’t “digital currency” but just digital transactions for conventional currency.
I hardly ever use cash these days. But I find it very hard to believe we will ever all get a chip installed. Who knows for sure of course, but I think the trend is for biometrics (finger prints, blood vessel patterns, facial recognition, etc) which is very very hard to fake, while a chip (at least currently) will work for anyone that has it. e.g. if I lose my Clipper card, anyone who finds it can use it (until I cancel it) on all the bay area transportation systems just like they were me. If a chip were inserted into your hand say, it of course will be much harder to lose it, but its also possible to duplicate the signals without removing the chip by just using a custom reader, so this is not as secure as biometrics. The copying problem can be dealt with by more sophisticated algorithms and cryptography but that is really not in place yet.
Also you make a mention of “as is being done in Europe” and it wasn’t clear if you meant some countries in Europe were requiring people to get chipped, which is certainly not the case, or if they were encouraging less use of physical cash, which might be though I have not heard about it. The move away from physical cash is just one of expense. It costs a lot to print the stuff up and move it around etc. You never have to make change when doing a digital tansaction. Its also anonymous and the government would like to have all transactions recorded. Whether that is a good idea or not is another issue, but that is why some have come out recently to suggest the US should stop printing $100 bills so cash transactions of huge sums (which often involve illegal things being bought) would be harder to do just due to needing 5 times the space to carry the money if you had to use $20s.
But otherwise, great podcast, keep it up!
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Hi jrg,
Good to hear from you. The only problems I seem to have with the podcasts are my communication skills. I am better at writing my thoughts down then I am talking about them. Typically when we do these podcasts I have about 4 separate streams of thought on different subjects going on in my head. Sometimes I will say millions or billions when I actually mean trillions and sometimes I say the wrong words. When that happens I don’t convey the points I was actually trying to make accurately. When I write about things I can go back and proof read. I can change things around and use the right words. I can get rid of misspellings and totally remove things that seem misleading. It’s easier to correct the wrong written thing then it is to correct the wrong words that are in audio.
This is perhaps the most frustrating part of creating podcasts for me. Saying a few words out of context when I really am talking about something else is a result of my brain not shutting off and bouncing all over the place on related subjects. All that being said let me clarify a few things.
I know that the question was where is currency heading? My mind went to an entirely new system that not only dealt with the way things are purchased, but I also thought about products and tracking systems for goods too. So when I mentioned the Infer-red or IR scanning. That was in the context of tracking merchandise. This is already used today. I did not mean to imply that this would be used as a form of money. I am sorry about the confusion. It’s harder to proof read audio and I should have clarified this better.
The use of forcing microchips on everyone will come about through congress and legislation
“It was reported that the use of Micro-Chips in Bill H.R. 4872 was located on Page 1014 under “National Medical Device Registry” it tells about a “Class II Device That is Implantable” and yes, they passed the bill. READ MORE:”
http://www.disclose.tv/news/nbc_news_all_americans_will_receive_a_microchip_implant_in_2017/115801
H.R. bill 3962 concerning the RFID Microchip contains the ability to Chip Every Citizen of the United States. This chip will be used for identification, medical records, and transactions. This was part of the plan with Obama Care all along.
http://www.cnet.com/news/chip-implant-gets-cash-under-your-skin/
http://nationalreport.net/rfid-chip-now-being-issued-in-hanna-wyoming-as-part-of-new-obamacare-plan/
http://topinfopost.com/2013/10/23/all-americans-microchipped-by-2017-video
http://www.thenewamerican.com/tech/item/18184-will-microchip-implants-in-humans-become-mandatory
http://www.bbc.com/news/technology-31042477
So as you can see this same chip can open doors, start cars, contain your medical records, serve as personal identification, and a host of other things. Some governments want to force this on their citizens and others are trying to condition people to take it voluntarily. I for one would rather die than take this chip.
http://topdocumentaryfilms.com/human-microchipping-agenda/
http://www.nowtheendbegins.com/pages/mark_of_the_beast/markOF_theBEAST.htm
Although these chips don’t have anything to directly do with currency today, they will in the future and that is my prediction.
I agree with a lot of what you said in your comment. Biometrics is much harder to fake, but massive amounts of research and money have already been poured into this system. Governments and the banking sector now have enough chips now to cover everyone. I don’t think they are going to abandon the chip at this point.
When I talk about digital or electronic currency I am not only referring to transactions. I am also referencing the electronic currency that only exists on government servers and banking systems. That is part of our M2, while M1 covers physical cash only. So I was referencing electronic transfers using electronic currency. Not to be confused with bitcoin.
The problem was this question. Where do you see the future of money? That question contains many subtopics which are impossible to cover in detail with my brief reply. We are not heading back to a gold standard! We are heading to an electronic standard, a digital currency where ever transaction will be monitored. If the dollar crashes then the digital currency crashes along with it. I really don’t think that is going to happen.
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Sometimes Marcus I’m not sure you learned anything in the whole Dinar experience. Lets take these references one by one (note a better editor would make it easier to distinguish the quotes from my responses, so sorry if that gets a bit jumbled).
““It was reported that the use of Micro-Chips in Bill H.R. 4872 was located on Page 1014 under “National Medical Device Registry” it tells about a “Class II Device That is Implantable” and yes, they passed the bill. READ MORE:”
http://www.disclose.tv/news/nbc_news_all_americans_will_receive_a_microchip_implant_in_2017/115801”
First the report title says we all will receive a chip in 2017, but is that what the actual NBC news video says? No. It was a piece done in 2007 and it merely speculates that this technology COULD be applied by 2017 but says nothing about being FORCED to do so. I didn’t go to the links in the article but just went to the House site and looked up HR4872. Yes that language is in the bill but its not about RFID chips but implantable medical devices that must have serial numbers on them. Anything from pins put into broken bones to pace makers must have a serial number so it can be traced back to the manufacturer in case something goes wrong, or to help identify your body. This has been the case for many decades. The bill extends this to some more devices. RFID or information technology devices are not mentioned, though would of course have to have a tiny serial number on them for exactly the same reason. i.e. this is nothing. The NBC video is also mostly about biometric identification, not RFID chips.
Next: “H.R. bill 3962 concerning the RFID Microchip contains the ability to Chip Every Citizen of the United States. This chip will be used for identification, medical records, and transactions. This was part of the plan with Obama Care all along.
Total BS. No where in HR 3962 will you find the word RFID or MicroChip (and yes I checked). So no it was not even mentioned in Obama Care.
Next: http://www.cnet.com/news/chip-implant-gets-cash-under-your-skin/
This is a CNET article obviously, and its about Applied Data Solutions who were trying to market this idea and offering to chip volunteers. Their stock went form $12 to $0.40 and now they are in the speech analysis business.
Next: http://nationalreport.net/rfid-chip-now-being-issued-in-hanna-wyoming-as-part-of-new-obamacare-plan/
Are you kidding me? The “NationalReport”? This is the far right’s version of the National Inquirer. This piece claims legislation has been passed to require all welfare recipients to get chips, but gee what a surprise they do not mention the Bill number (this is from 3 years ago). They note that the major media is quiet on this issue. Well duh! they made the entire thing up! Of course it is filled with Biblical references to suck in people believing the end times and the mark of the beast. This is an affinity scam but here they just want to promote themselves instead of selling you something.
http://topinfopost.com/2013/10/23/all-americans-microchipped-by-2017-video
This is the same 2007 NBC piece you referenced earlier. Its just speculation on what COULD be done. Do you now think that this year everyone will be forced to be chipped? As we used to say to the Guru followers, put down the cool-aid and do some research.
http://www.thenewamerican.com/tech/item/18184-will-microchip-implants-in-humans-become-mandatory
Yet another far right piece that takes a few instances of people (as far as I know they have all been University Researchers) and then blows it way out of proportion with Biblical references to the mark of the beast to suck in Christians. How is this any different form the Dinar Gurus using the rise of Babylon to convince believers that their story has more merit than it really does? its exactly the same affinity scam tactic. This piece also has numerous false statements like that the government tracks your every move with RFID in your phone. No, the carrier tracks your every move with GPS. Don’e like that? Turn off your phone. Or that the feds can remotely turn on the camera in your phone presumably to spy on you, yet the FBI can’t even unlock an iPhone 5. Total paranoia. We are being tracked, but its not the government, its the credit card companies, and Facebook, and cellular carriers. Its not big brother, its big marketing.
Next: http://www.bbc.com/news/technology-31042477
This is a case in Sweden where a private office block developer/manager offered RFID chips to its tenants to access locks and copying machines and make purchases (eventually) at the offices internal cafe (i.e. this is not a credit card tag) etc. Some took them up on it, others declined. The reporter that tried it said it didn’t even work very well. This is the largest test I have heard about, but clearly was not mandatory in any way nor involved the government.
So in short you are letting your Christian fundamentalism let you get sucked into believing things that simply aren’t true due the authors linking it to biblical passages. BE SKEPTICAL Marcus. The training you got about the Dinar Gurus applies many places.
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Unfortunately I have learned a great deal from the dinar jrg. I am not letting my Christian viewpoint cloud my judgement. I am very skeptical. In fact, I think you will find that I am a lot more skeptical then most Christians and this comes from dealing with many false doctrines that have become traditions by the modern church, In fact, if we sat down to discuss a few things you may be surprised to find that I have a much different view of biblical prophecy then the common Christian, I was not trying to insert this into the near future of currency, but perhaps we should save that conversation for Jew and Greek.
However, I do owe you an apology and I would like to take this opportunity to tell you I am sorry for my response. It was sloppy and not well researched. That is not typically like me. I was pressed for time and I already spent 20 minutes on what I think is the worse response I have ever made to you or anyone else for that matter. So for that I am truly sorry. Being pressed for time is no excuse for sloppy work!
But you assume some things about this response that are not true. So let me clarify what I was thinking with the links.
I posted the bbc link because I thought it was the case you were talking about and this was an effort to verify the things you said.
NEWSNBC News: ‘All Americans Microchipped by 2017’ For some reason I did not even pay attention to the headline, or that point that was made in the video. I only posted this video because it referenced finger prints and iris scans. It also showed the deadbolt that unlocked which you referenced. In short it backed up your biometrics point. Things like finger prints, blood vessel patterns, and facial recognition ect.
I posted the video because it backed up the things you said. I did not even consider what was on the webpage itself. Of course I don’t believe that everyone is going to be chipped by 2017! That was not the point, and I don’t know why those comments on the page did not even register with me. I think it was because I was rushing through a response
I found the other link that had the same video and I added it because it had the references to the laws that were going to be passed, but I forgot to remove the other link. I should have done what you did. I should have looked up the laws myself and that’s on me. I should have not taken the word of that website.
National Report is not a right wing site. National Report is a news and political satire web publication. In other words every article is made up and it’s basically a joke. I did not know this when the link came up in the search engine. Believe it or not I never been to this site before and did not know it was a joke website. I thought it was a legitimate news site. Once again that’s on me because I did sloppy work.
http://nationalreport.net/disclaimer/
I was too rushed to respond to you and I was cutting corners trying to save time. I should have responded when I had enough time to sit down and digest what you were saying and do the proper vetting in the search engine. Needless to say it is embarrassing. I don’t have a need to be right. I only want to know what the truth is and I can admit when I am wrong. In this case I was wrong.
Now all that being said this whole thing started with this question. What do I believe the future economic system will be? What is the future of money going to look like? Like I said in the Podcast, I believe we are heading to a model of digital currency. I am not just referring to transactions here. I think in time there will be less physical cash and more electronic currency. And the means of exchange will evolve to reflect this system. What that will look like is anyone’s guess. But I think one thing is certain. I don’t believe we are going back to a gold standard. And that was really the only point I was trying to make. Everything else was meant to be speculation on my part.
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No worries I didn’t realize The National Review was “Onion-esq” either! I just thought they were nuts 🙂 I have a tendency to presume comments are more rebuttals than agreements so I erred a bit on that score.
As for the future of currency I agree we’re certainly not going back to the gold standard. With the difficulties the Euro has had (i.e. a common currency but not a common economic policy) I don’t think there will be any sort of vast global unification either. I think electronic transactions will continue to grow and physical cash will continue to shrink. Its also possible that there will be more diversification, i.e. that things like bitcoins will grow, but they also could die out, I have no idea. It was interesting that recently some high powered folks (previous bank CEO’s etc) have called for the US to phase out the $100 bill (maybe the $50 as well) as a way to make illegal transactions more difficult due to just needing more suitcases to hold the cash.
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What are you guys planning if what you think is going to happen, does not happen and the gurus end up being right?
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@DB
The facts are the facts! The fact is that the gurus have been proven wrong time and again. They have not been right even one time and they have a horrible track record. They will never be right because this is a scam. It is not a real investment.
Now dealers and gurus alike face Federal Indictments because it is a scam. I think it is pretty safe to say that we don’t need to worry about being wrong. If you still believe this thing in spit of all the evidence that we presented and in spite of all the evidence from the Federal government, Then I think we should agree to disagree.
Its OK to be wrong if that is what you choose to do.
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I think we will agree to disagree, but how will you and Sam feel if this thing does actually happen. I know you feel 100% certain an RV won’t happen but I feel a 100% an RV will happen. There are two sides to the story of the dinar and so far both lopsters and gurus are have been wrong.
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Don’t approach it from a lobster’s perspective. They may not redenominate at all. That was part of shabibi’s plan and the old administration. Many times lops are done because of a political agenda. I suspect that may have been the case. Plans may have changed. Even if it does not redenominate the one thing it won’t do is go up in value via revalue. In fact, just recently the currency devalued and went down.
Iraq is spending their reserves because of the lower oil prices. At one point they had 80 billion in reserve now it is somewhere around 43 billion. This may cause the currency to devalue even further. The fact remains that they don’t have the required reserves to revalue without totally crashing the currency. They may not redenominate at all at this point. They are in survival mode.
I am 100 percent certain that a substantial RV like the gurus claim will not happen. So I won’t waste time speculating on what my feelings will be about a scenario that is never going to happen. This is not about opinion or being right or wrong. This is about the facts. You either believe the facts or you don’t.
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DB. Why do you assume that an RV or a LOP are the only 2 possible outcomes? An RV is impossible but a LOP does not have to happen either. A LOP is certainly not inevitable. Iraq could very well continue to do what they’ve been doing (which is periodically adjusting the peg of the dinar). It really doesn’t matter if it LOPs or not. The absence of a LOP is not proof of an RV. What matters is if it RVs. And we know, unequivocally, that it will not massively revalue. That is not my opinion. That is not my feeling. That is not an unlikely or improbable outcome. It is a mathematical guarantee! It won’t happen. You can’t wish or hope or feel it into existence. Two plus two will never equal five. I don’t know why it continues to be so hard to understand.
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I was asked that very question four years ago. I’ll answer now like I did back then. If I’m wrong I’m in good company. Dozens of organizations have referred to the dinar investment as a scam, including the BBB and the DOJ. To date there hasn’t been one bona fide investment expert who is on record as saying that it is legit. The IQD has not increased in value over the past four years. It has decreased. Also, since I was asked that question three members of the BH Group have been convicted of dinar fraud along with their accomplice Rudolph Coenen, dinar pumper TonyTNT has been convicted of a similar internet scam and is serving a sentence for that, three members of Sterling Currency Group have been indicted for fraud along with their pumper terryk, and an indictment has been issued against Dinar Corp’s owner and their site has been shut down. I think a better question might be “what are these dealers and pumpers going to do when tens (possibly hundreds) of thousands of victims realize that they were being lied to all these years?”
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The difference here is DB that Marcus and Sam (whom I am in total agreement with) can show clear support that an RV is impossible where as on the there side you offer your “feelings”. Asking what they are planning if an RV were to happen is like asking what they are planning if it turns out the earth is really flat after all, or that there are Amazon Women on the Moon. Its just nonsense. 2+2 still equals 4 and as long as that is the case the impossibility of the RV is just arithmetic.
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