Hello again, everybody.  This month’s update is pretty much the same as every other month this year.  More douchebaggery from gurus and pumpers and no increase in the IQD.  At the start of the year I made the following predictions.

“I will stake my reputation on the fact that the value of the dinar will not increase by more than 10% in any given month or by 50% this year unless there’s a lop. The same goes for the Vietnamese dong. I also predict that we will see another indictment of one or more of the douchebags I’ve written about in the past. I predict that Iraq’s M2 will end the year at more than the current figure of 72 trillion unless they redenominate. And finally, I predict that Obama and Maliki will both end the year without being removed from office.”

Well the third quarter of the year has passed and the dinar’s value hasn’t changed.  The dong (VND) has depreciated from 20,820:$1 to 21,125:$1.  To my knowledge none of the douchebags that I have written about in the past have been indicted this year, although I’ve heard rumours to that effect.  I’m starting to sweat that one a bit.  The M2 has grown from about 75 trillion at the start of the year to a tentative figure of about 84 trillion in July.  And both Obama and Maliki are still in office, like it or not.  We’ll take another look at all of this in three months to see how my predictions held up.

The first week of September saw an on-air meltdown by Phoenix as he agonized over the Obama administration’s apparent determination to conduct a military strike against Syria.  He stated that if he were to tell us the truth he would be arrested.  I strongly doubt that the men in black are concerned about Phoenix Rising radio.  I actually think there’s some merit to what he had to say on this issue.  Maybe if he hadn’t spent the last two years interviewing psychics and talking about comets, electro-magnetic pulse, earthquakes, the Mayan calendar, and the impending revaluation of the Iraqi dinar more people would take him serious.

Also in the first week Forbes Magazine did yet another feature on the dinar scam called “Inside the Dubious Dinar Revaluation Ruse“.

Breitling referred to the article’s author John Wasik as a “knucklehead with no credibility and no accountability”.  Well here’s this knucklehead’s bio.

John Wasik

As the award-winning author of 13 books, Wasik has spoken to crowds from coast to coast on investing, retirement and protecting your money. As a personal finance columnist/blogger for Reuters, the world’s largest news service, he covers investing/investor protection, financial planning, taxes, insurance, retirement, college and life planning. His columns have been seen in newspapers on five continents and he regularly comments on top economic news in all media.

He’s also appeared on NBC, NPR, PBS, CNBC, MSNBC, CNN, CNNfn, Bloomberg TV and radio and on hundreds of TV and radio stations across the country. He earned his B.A. (psychology) and M.A. (communications) from the University of Illinois-Chicago and resides north of Chicago with his wife and two daughters.

As former special projects editor for Consumers Digest magazine, he has won 18 awards for his columns and investigative reporting, including the National Press Club award for Consumer Journalism. He has spoken at the New York Money Show, the National Home Center Show and the University of Chicago Business School. He is also a popular lecturer on investing at the University of Chicago’s Graham School.

Wasik also has contributed to Reader’s Digest, The New York Times, Bloomberg News, Fortune.com, Morningstar.com, AARP Magazine/Bulletin, eFinancial Careers, Minyanville, Modern Maturity, Parade, Smart Money, Popular Science, Health, Kiplinger’s Personal Finance, Barron’s, The Chicago Tribune and newspapers across North America.

His books include:

• The Audacity of Help
• The Cul-de-Sac Syndrome
• iMoney
• The Merchant of Power (2006)
• The Bear-Proof Investor (Owl, 2002)
• The Kitchen-Table Investor (Holt, 2001)
• Retire Early and Live the Life You Want Now (Holt, 2000)
• The Late-Start Investor (Holt, 1999)
• The Green Company Resource Guide (NCI, 1997)
• The Investment Club Book (Warner, 1996)
• Green Marketing & Management: A Global Perspective (Blackwell, 1996)
• The Green Supermarket Shopping Guide (Warner, 1995)
• The Electronic Business Information Sourcebook (Wiley, 1987)

http://www.johnwasik.net/

As for Breitling, you probably won’t find his bio on the internet but here’s what he has claimed in his YouTube videos.

“Breitling has claimed to be a private pilot, a banker, and a professional investor who knows people at J.P. Morgan Chase and Citigroup, guys who make $7 million a year on Forex, and people in the military who made a fortune on the Kuwaiti dinar. He claims that he has worked as a corporate recruiter, a video game developer, an investigator for the Justice Department, a political consultant, a real estate consultant, and a network consultant who worked with people at Southern California Edison.   Additionally he says that he has been involved in manufacturing in China, in writing PPMs (Private Placement Memorandums for raising venture capital), and in developing dental equipment for Latin America. B also says that he and his business associates have their own Delarue machine, that he has had cars like a Lamborghini., and that he just bought a race boat that he never even takes out. He also claims that he has contacts in the IMF, the UN, and the US Senate.”

I documented all of this in The Breitling Catalog.  Now who’s the knucklehead with no credibility?

The fact is John Wasik is a very respected journalist for a very reputable news organization, reaching hundreds of thousands of readers.  As an employee of Reuters he has both credibility and accountability, and John has been writing about financial matters for many years to establish himself as an authority on the topic.  He has seen scams come and go and he knows what he’s talking about.  Gurus like Breitling, on the other hand, are almost always wrong about almost everything and yet with the exception of Rudy Coenen never seem to be held accountable.  Well in the words of Susan Boyle, “here’s hoping that will change”.

Also in September some douche named Dave Schmidt did a post called “So Who Wants to be a Millionaire?” at a site called Golden Age of Gaia that made its way over to Dinar Recaps.  This post has Dave telling us that 198 currencies are about to be reset, even though there aren’t that many currencies in the world.  He claims to be a former state senator although he didn’t mention in which state he served.  He went on to claim that Vietnam would back the dong with rice.  I kid you not.

I did a little digging (yeah I know …. what are the odds?) and found a state senator by that name in the state of Washington who apparently got himself into some trouble a while back.  Could this be our new dinar guru Dave?  I’m thinking it just might be.  http://ullala.wordpress.com/2012/05/31/dave-schmidt-are-you-ready-for-the-change/

Until next time.

-Sam