It amazes me to see how people are so patient regarding scams. We have seen the many failed dinar predictions. Some guru would make another prediction and even though they were wrong, people would put their hope into another prediction that is doomed to fail all over again from the same person. When someone calls B.S. on the lies behind the failed predictions they are attacked. The primary reason for this has nothing to do with who is right and who is wrong. The reason for this is because you are going against false hope that people harbor which keeps them from facing the many realities they deal with on a daily basis. It has nothing to do with the truth! This thing is purely emotional and it escapes all logic and reason.
Now the same thing is happening on a much broader scale within the global reset community. These people keep presenting junk economics with false conclusions and they keep making false predictions. The GCR crowd will tell everyone how rich they are going to be if they buy silver and gold. They tell them they are going to survive the end of the world and all they’ve got to do is buy their junk newsletters that contain all the details. They scare them into a sense of urgency and tell them time is short. That is the reason for setting dates in the first place. It’s propaganda 101.
The dollar collapse predictions keep coming. Over the last decade, there have been many failed dates and we have seen 4 dates just in 2016 alone. First, the dollar was supposed to crash sometime during the entire month of April. Then the dollar was supposed to crash on May 28th, 2016. Then the dollar was going to crash on September 27th, 2016. Then once that date expired the dollar was going to crash on December 31st, 2016. Now that we are past this date a new date has been set by the GCR community. The dollar is now going to crash on April 5th, 2017.
The reason the global currency reset crowd keeps setting these dates is because it creates urgency. If the world is going to end when the dollar collapses then these people hope you buy gold, silver, emergency food supplies, and a host of other products. This has become big business.
There are many different conspiracies that combine to make a super conspiracy in what is now referred to by these scam artists as the Global Currency Reset. This fictional event is constantly compared to the 2008 meltdown. In fact, many compare their fictional end of the world scenarios to the 2008 meltdown.
They won’t point to the actual causes of historical events. Instead, they make claims that are not true. For example, they claim that inflation happened in the 1970’s and it was primarily due to increasing the money supply. They totally ignore the role the oil embargo of the 1970’s played on inflation during this time. This is well documented. They will point to the 2008 meltdown and claim that increasing the money supply brought about the 2008 meltdown. The truth of the matter is one of the main causes of the collapse came from government-sponsored enterprises or GSE. These types of institutions like Fannie Mae and Freddie Mac were operating under very loose government restrictions. If this was addressed as secretary of the treasury Snow wanted to do back in 2003 then the whole meltdown may have been avoided altogether.
But the GCR people blame the central banks and what they call the banking cartel. They increased the money supply and all those evil guys on Wall Street are all to blame too. So as we see the GCR crowd misrepresent economics and they rewrite history in an effort to present a false narrative that will cause people to believe in a coming dollar collapse. Then the only thing to do is to set the date to create the urgency. Soon we see people are buying products like dinar and other foreign currencies. They buy all kinds of crap they don’t need and they tend to over leverage as a result. They take loans out from their retirement accounts, they work overtime on their job, and they prepare for the end of the world.
What makes GCR investment scams even more cruel is the fact that they are not just ripping people off. They are taking control of their life with a cult-like scam. There are those that are caught up in this thing who are so emotionally invested. They live in fear every day and they live a very restrictive lifestyle. They prepare to live through the end of the world as they know it, but they never learn how to really live. They spend their life in bondage and fear, all so some scam artist can make a buck!
In 2014 I decided to write a book about the global currency reset which is called “The Truth About The Coming Global Currency Reset” The purpose of the book was to debunk the GCR, and my book was the only one that did this. It stood against many books on Amazon that promoted these ideas. Just 2 years later all the numbers in the book become outdated. For example, at the time I wrote the book China had 120 trillion Yuan. Just two years later they have 151 trillion Yuan. In addition to this, economic situations changed. The BRICS are no longer and Brazil was one of the first nations to have economic problems. China had problems in 2015 as their stock market took a turn for the worse. They started to burn through their reserves as well.
So I decided that an update was needed. I was going to update all the numbers in the book to 2016 numbers and write a little more about how the economic landscape had changed. I would also address more history that the global currency reset crowd has tried to rewrite. This was going to be the second edition and it was only going to happen one time. This was only going to take one week, two at the most. I started writing and updating in September of 2016. Four months later the rewrite is completed and it was released on January 1st of 2017. I started doing research in August and finished in late December.
At the time I did not really know what I was getting myself into. I kept digging and finding more and more information. This book totally and completely debunks the global currency reset belief system. The first four chapters deal with monetary history. This is done to address all the efforts from the GCR to rewrite this history. Researching the actual history and documenting every quote from founding fathers and other historical figures took a long time.
At long last, the book is finished and the case is solid. Anyone caught up in this cultic money belief system needs to read this book. The last chapter contains nothing but links. These links are there to verify the things written in the book. I almost doubled the link count from the previous version. I have a kindle version, a version for iPad, and it is available through all the major eBook retailers too. This time it is even going to be available in print. I am currently working out those details. The eBook version is ready to go. Now you can read the first three chapters for free. Just scroll down. The most important thing is deprogramming those caught up in this GCR. That is the mission of this book. As far as I know this is the only book that is doing this.
Click the link below to go to the pdf page
Iraq Currency Watch 
how can I put this in layman’s terms for my friends. even I had a hard time reading this.
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In the twentieth century, the first U.S. dollar reset, when we were still on the gold standard, was done by Roosevelt to benefit his banker buddies by executive order, forcing honest Americans to turn in their gold coins in exchange for U.S. government issued paper currency. Obviously, some people were smart enough to hide theirs for a while. Roosevelt then reset the value of gold higher than the money he paid for it, causing a loss of 40% to the currency holders who were honest and stupid enough to turn in real money for paper notes. Notes are legally IOUs.
In 1973 the Nixon Administration facing pushback from especially the middle east (Saudi Arabia) was forced to reset the U.S. dollar a second time. The double digit inflation of the late 1970s and early 1980s was the result as prices of everything more than doubled. I bought a house for $32K in late 1998 and sold it for $90K in late 1981, but I had added a pool and another bedroom worth about $20,000.
It is only a matter of time until all fiat currencies eventually reach their intrinsic value. Not fiat currency has ever survived a long period of political manipulations, ever. If you are buying currencies that are not in circulation, the changes are they are worth at least their intrinsic value; the paper it is printed on. Unless you need some wallpaper or starter kindling, I wouldn’t suggest buy them.
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Thanks for proving one of the main points I have in my book. Global Currency Reset proponents have a tendency to rewrite history in order to sell their worthless crap. The inflation in the 70’s and early 80’s had nothing to do with a currency reset. That is fiction in the purest form. Remember how high interest rates were in the 70’s? We entered a period of stagflation. Inflation was not solely caused by the currency supply as these people claim. Inflation came about due to the oil embargo and the energy crisis. Read Wiki
“The 1973 oil crisis began in October 1973 when the members of the Organization of Arab Petroleum Exporting Countries proclaimed an oil embargo. By the end of the embargo in March 1974, the price of oil had risen from US $3 per barrel to nearly $12 globally; US prices were significantly higher. The embargo caused an oil crisis, or “shock”, with many short- and long-term effects on global politics and the global economy. It was later called the “first oil shock”, followed by the 1979 oil crisis, termed the “second oil shock.”
https://en.wikipedia.org/wiki/1973_oil_crisis
You see, contrary to popular GCR belief the currency supply is not the only cause of inflation. In this case rising costs for oil also meant rising costs for gas and other products made with petroleum. The reason for the rising costs was something called supply and demand. Supply was limited and the demand was increasing. This made the costs go up.
Because it costs more to bring goods to market (due to rising fuel costs) it narrowed profit margins. So this cost was once again passed on to consumers. This made everything else go up too. It costs more for food and the basic necessities of life. It cost more to bring goods to market. This is known as cost push inflation.
http://www.investopedia.com/terms/c/costpushinflation.asp
The inflation had little to do with the currency supply and we entered stagflation. There was no reset!
https://benjaminstudebaker.com/2012/12/30/stagflation-what-really-happened-in-the-70s/
I agree that fiat currencies do not survive political manipulations for a long period of time. Proof of this can be seen in Argentina and Zimbabwe. But it seems to me that GCR propagandist also ignore the problems we had on the holier than thou gold standard. They ignore problems that happen with any gold back currency. Historically there were many problems with gold backed currencies. During the late 1800’s to early 1900’s banks failed at an alarming rate. The banker’s panic of 1907 was made worse because money supply could not expand or contract under the gold standard. It got so bad that banking reform was a hot topic in 1910. Woodrow Wilson was elected in part because of his banking reform platform. We even entered the great depression on the gold standard! See links for problems with the gold standard.
http://www.theatlantic.com/business/archive/2012/08/why-the-gold-standard-is-the-worlds-worst-economic-idea-in-2-charts/261552/
http://www.salon.com/2012/08/31/the_gold_standard_delusion/
http://mentalfloss.com/article/12715/why-did-us-abandon-gold-standard
What you call a US dollar reset in 1933 was not a reset! We did not go back to the same monetary system with everything set back the way it was! We left the gold standard! Every Nation around the world left the gold standard after the great depression and the sooner they did the sooner they recovered!
The reason for Roosevelt’s executive order was because people were hoarding gold! The Treasury attributed widespread bank runs and failures to private “gold hoarding.” So they used the “Trading With the Enemy Act” (1917) This act gave the president wide latitude to restrict exchanges and seize assets during “emergencies”. The economy came to a complete stand still and there was no movement. I would call that an emergency. The executive order was actually replaced by legislation from congress. When FDR’s Executive Order #6102 eventually expired, it was replaced by the banking act of 1934. There have been three major banking acts starting from 1933-1935. Google them! Read them! This finalized the government’s ban on private gold holding. The prohibition on gold wasn’t fully lifted until early 1975. It was lifted in a bill signed by President Gerald Ford. Yet the GCR community continues to blame everything on FDR!
None of this information is ever given in the global currency reset community because the actual history does not support the GCR position that gold is the only true form of money. It is common practice for the GCR crowd to point to failures that happened with fiat currencies and totally ignore failures that happened when we were on the gold standard! It is delusional to expect that a return to this standard will provide financial stability. It is also delusional to say that gold is the only real money. Tell that to the Indians that used beads and shells for centuries!
GCR people also claim that the definition of fiat means faith based as if to imply that fiat currency is the only faith based form of money. All money is faith based. Commodity money, representative money and fiat money is all faith based. It only has value because people believe it has value. Gold only has value as money because people believe it has value as money! In other words they believe they will be able to conduct future exchanges with it. When is the last time you tried to pay for things at Walmart using gold? Faith in money is a rule that applies to every form of money otherwise money would not be used as a medium of exchange!
The real definition of fiat is a currency that has value because of government decree or rule of law. Outside of that law or decree there is no intrinsic value. (No actual value) where as gold has value outside of the use as money. But GCR people tend to leave out the law and decree part when they say fiat currency has no intrinsic value as if to imply that it is worthless even in respect to the decree or the law and that is a false narrative.
There have been no currency resets. There have only been new systems that were put in place. But to call a new monetary system a reset is perhaps the biggest delusion of all.
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Good article. Even most “GCR” proponents can’t explain what they’re trying to pump beyond throwing round a few buzzwords like “fiat” and “fractional reserve banking” (and then laughably attributing them only to the USA). Then tying themselves in knots trying to describe which of the competing sub-conspiracies is the “One True One” based on the incoherent and contradictory ramblings of a fake “whistleblower” (Karen Hudes) who was fired from her former job at the World Bank for serious mental health reasons.
GCR contradictions include:-
1. Pricing in and then “double counting” natural resources as “currency backing”. This is one of the more deluded ‘Hopium’ beliefs that also ‘keeps the dream alive’ for the Iraqi Dinar “RV”. Basing a currency’s value on “resources” simply laying in the ground is total nonsense. Eg, Iraq may have 144bn barrels of oil (which at $55 oil price = $8tn assets) – BUT that $8tn worth of oil is going to be spread over the next +80 years in the form of 4.8m barrels per day actual production (avg real wealth of $96bn per year) which isn’t even enough to pay for the ongoing Iraqi govt budget (hence why they’re running a deficit of $26bn which in percentage terms vs spending is even worse than the USA’s).
Reality : Every barrel of oil extracted gets used (either consumed internally or exported for cash that pays for Iraq’s govt budget in lieu of Western style income taxes). Yet some highly deluded people genuinely think all that 144bn barrels will all be magically teleported out of the ground in a single day, donated to the CBI for free then placed in some giant warehouse for “backing the Dinar” tomorrow without a single drop being sold or used ever again…
Trying to “value” a currency based on reserves when the same oil will later be extracted and used for real is nothing more than double counting. Iraq consumes around 1/4 to 1/5 of their oil and the rest gets exported (consumed abroad) for cash that pays govt wages (police, military, doctors, teachers, schools, hospitals, power stations, etc). In neither case does that consumed barrel of oil even exist anymore nor does any money acquired from its sale get “kept” by the central bank to back issued currency as it goes on the budget. Oil is already factored into the economy during year of export, yet some are trying to “double up” on it being priced in twice over.
2. Using non-renewable resources (like oil) as a “currency backing” as an inflation hedge is also totally backwards & contradictory. As each year goes by oil gets consumed or sold to someone else to consume and no longer exists, making whatever arbitrary initial “GCR resource peg” more and more OVER-valued no different to current fiat currencies. And all the while their population is growing they still have to print more money for liquidity purposes amplifying the effect. Curing “fiat inflation” by using a fixed peg against a constantly dwindling resource that’s inherently inflationary? What economically-challenged “genius” came up with that? LOL. If you want a hedge against inflation, you don’t peg your currency to an asset which shrinks each year (oil) as that’s exactly the same long-term inflationary effect as “printing too much fiat money with a static gold reserve”.
3. No country is going to “squeeze in” every single year’s economies from 2017-2100AD’s all into 2017 currency’s valuation (the absurd GCR in a nutshell). You could make the same argument with the USA and claim the US Dollar “is going to skyrocket” if you “count” the next 80 year’s worth of unsold US production which = $1480tn or the equivalent of 187x Iraq’s worth of oil reserves, then “back” the dollar with it “GCR” style…
4. The fake “GCR intel” is ludicrously inconsistent. Eg, “The USA and Canada are going to fall and Iraq’s going to rise due to Iraq’s oil” based purely on natural resources. Which is hilarious given that Canada (175bn barrels) has 25% more oil than Iraq (140bn barrels) and a whole lot more other natural resources and industry, whilst the USA is producing +80% more oil than Iraq (8.7mbpd vs 4.8mbpd). China is proclaimed to be a winner and yet is actually net IMPORTER of virtually every raw resource going from oil & LNG to iron, copper & aluminum, titanium, uranium, coal, timber, rubber, etc. Why do people think they’re running around buttering up Africa & South America? Because they don’t have enough resources to sustain even what they consume (let alone surplus leftover to “back” 150tn Yuan at some wonder high rate)! Yet more proof that the people shovelling this GCR conspiracy haven’t even bothered to research any of the countries they’re pumping.
5. Paradoxical conspiracies. Eg, “When the GCR is announced, currently hidden Tesla-style free energy devices will be released for everyone and the Iraqi Dinar will be backed by oil”. If those “Free Energy” technologies genuinely were real, then the value of oil (and any currency backed by it along with coal & gas) would actually plummet when demand for burning fossil fuels for energy / transportation completely grinds to a halt…
6. Gold. “China’s buying gold so they must be rich”. Reality : China is CONSUMING gold at a rate (1,200t) almost 3x faster than they domestically produce it (423t). That’s where a large chunk of imports are going. 2017 Chinese PRIVATE sector demand for Gold is set to rise above 1,350t in 2017. Most of this isn’t “investment bars” held by the central bank, but rather privately owned jewellery or industry consumption, which no more backs the Yuan than your own wedding ring backs the Dollar. Same is true for India where a lot of demand for imports goes on jewellery.
As with the Dinar “RV”, it’s all down to psychology. Many desperate people cling to this because they’re deathly afraid of admitting the Iraq / Vietnam / Indonesia “magic millionaire get rich quick RV scam” is indeed a scam. Most people hanging round GCR conspiracy stuff are either “Doomsday gold bugs” predicting “imminent $10,000 gold prices” every month since 1999 or are Dinar holders who’ve only partially realized the absurdity of a “100,000%-3,500,000% RV” for Iraq, yet strangely see nothing wrong in extending the same contorted logic to the whole planet, throwing around silly figures equal to several hundred Planet Earth sized economies to “gift” to ourselves in imaginary Zimbabwe-style “correction” events, to try and “keep the dream alive”…
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Hi Brian,
As usual, you made an excellent comment. I agree with every point you made! Most of the information you shared is in the book. In fact, I think you had a lot to do with pointing me in the right direction when I was researching this for myself. I went through many economic websites verifying the things in this comment. Your points are right on target.
I will say that China has been adding some gold to their reserves, but they have been consuming more gold too. It is interesting to see how much the currency supply has expanded in the last 2 years. Back in 2014 when I first wrote this book china backed its currency with 2 percent of gold reserves. At that time they had 120 trillion Yuan in circulation. Today China has over 151 Yuan in circulation. Even though they added some gold Their gold reserves still only represent 2 percent of their currency supply. So that has not changed!
In just two years time China added over 30 trillion currency units! That is mind boggling! China is a big consumer of gold in part because they have one of the biggest manufacturing bases in the world! Much of their gold goes to industry. But your right and it drives me absolutely crazy. Why is America the only one that will suffer from overprinting their currency!
I agree with you about the dinarians and the gold bugs. The GCR is also responsible for making many people preppers. In addition to this, there are people who sell junk newsletters with inside economic tips. These newsletters make claims on how they can guide you through the stock market in the event of a GCR. These guys are making millions. These letters are nothing but GCR propaganda and they are used to hype the GCR agenda. This part of the agenda appeals to all the Ron Paul types.
As a result, many people live in fear today because they have been taught junk economics and they are held prisoner by their make believe economic world.
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