I listened to a conference call on Tuesday that featured Randy Koonce from Currency Chatter. In this call Randy said two things that stood out to me as blatantly untrue. First, when a caller asked him if deleting the zeros means removing the notes with three zeros from circulation why don’t they just say it that way? Randy’s response was that they are saying it that way in Arabic, but the translation into English distorts the meaning. Well when Shabibi was in Washington D.C. last year he talked about deleting the zeros in English, and he didn’t say squat about removing larger bills from circulation. He said it was being done to “facilitate payments”. No translation issues there. Shabibi was describing a redenomination. And second, Randy said that Allawi won the election but Obama put Maliki back in office. Actually nobody won the election. Allawi may have won more votes but he didn’t get enough to win the election according to their system. It’s just as wrong to say that Maliki stole Iraq’s election because Allawi got more votes as it is to say that Bush stole the 2000 election because Gore got more votes.
When I started this blog I listed Randy as one of the good guys, despite the fact that he said many things that I disagreed with. His rate of $3.41 was based on the requirements of Iraq’s budget which to me is nonsense. Currencies aren’t valued based on budgetary requirements. They’re based mainly on the size of the economy and the money supply. Still, I couldn’t see that Randy was selling anything or making any money off of his analysis so I considered him harmless.
Well over the past year Randy has been slipping further and further into pumper territory. He has an ad from Dinar Corp on his website. He has flown to Chicago to do an interview with Ivy from Dinar Corp. He has been doing conference calls promoting Dinar Corp and Freedoms Radio. This disturbing tendency caused me to take another look at RK. Here’s what he has said over the past year or so.
5-16-2011 (via spice4life74) I just spoke with Randy Koonce and he informed me that Parliament is in Special Session now to vote on the remaining ministers. Once that is accomplished we will have our RV
5-19-2011 I understand that everything is done, ministers picked, agreements signed, all we need is a vote, supposedly meeting today for the vote & RV will be shortly afterwards.
5-23-2011 …I feel the ministers were voted on last week… we only lack the announcement which I feel they will do this week…
5-29-2011 At this time we are day to day for the RV to take place…rate HAS to be at least…$3.41
6-12-2011 It looks so good for tomorrow I can’t stand it…I’ve told you to watch 2 things…The money (budget) and Ministers…news says ministers approved Ministers of Electricity budget request–means they are ready to open budget and political blocks have agreed on security ministers and will resolve (vote) tomorrow (Sunday)…If they do what they say they are going to do, tomorrow (Sunday) this is over…If they don’t announce ministers it may be delayed a few days…my rate based on the budget numbers is $3.21
7-9-2011 …I believe the pressure is about to break, we are in a pissing contest with maliki and the rest of parliament….I am having trouble with this going 2 weeks
7-9-2011 the Erbil Agreement is agreed on and they can vote on it Tuesday. Then if they vote on it Tuesday and it is passed then Shabibi should pull the trigger…it will be (rate) about $3.40, maybe a little more, to cover the budget
7-20-2011 Looks good for Thursday or any day after that, the Prime Minister has to be in town. Maliki was upset that the U.S. held them up last weekend. The lower denoms are in the banks, not in the streets. Rate won’t be $.86 or $4.40, it will be enough to cover their budget, $3.41, it’s simple economics
8-2-2011 The Erbil agreement has been voted on, we are waiting for the announcement that they will implement it, today, no later than tomorrow, if they do, we are on, we should have an R/V. The rate will come in to make the budget work – $3.41, the people that say $.86 can’t add.
9-18-2011 [via VNJW] The Kurds are saying to M to impliment the Arbil (Erbil) Agreement & giving him til Tuesday or ask for the no confidence. If M does not, then they will try to get M out of office. This puts M in a corner! If he does impliment the Arbil, we have an RV. if not, we will probably be waiting until they oust him & put someone into position to do just that. We need to see the Ministers in place, the HCL, the Arbil implimented and we have an RV. [I] feel Maliki will co-operate rather than loose out….which means the RV would happen by Tuesday. [I] feel the rate will be $3.41 or a few cent more to meet the budget…..but no more and it will stay that way a long time.
10-2-2011 The only part of Erbil that we are concerned with is that they have a government. It will be in the news, no it has not happened yet. Maliki said he agrees with everything…BUT is all of this legal, constitutional???…that’s how he stalled it again. They are going to make sure it is constitutional at the meeting on Wednesday. Are we close, yes, Wednesday is the day Maliki has to put up or shut up, otherwise they will ask for a no confidence vote, if they do it will be another 3 weeks. If you hear anyone say the rate is above $4, take everything they said before that and throw it out of the window. They are not going to drop a rate out that is any more than their budget. Their entire oil revenue was 26 billion, their entire budget was 90 billion, divide the two, that gives you the rate, $3.45, not too far out from that. Don’t let the emotion of an $8 rate get you worked up, don’t be deceived. Check CBI to see if it has RV’ed, if it didn’t RV there, it didn’t RV.
11-13-2011 Shabibi is the ultimate guy that can pull the trigger, he wants a full government, Security Ministers and Stratigic Council should give us a full government. They are putting special sessions together to get this done. The U.S. got ourselves in a bind with this immunity thing, it should have been settled months ago. It’s a political process and we are observers, but we are in a very good spot. We are in a window, don’t know a date…I personally think that before Thanksgiving we are out of this. It’s not a matter of IF, it’s a matter of WHEN. Monday – Thursday watch the news. The rate is $3.41, I know this from so many sources, always to the USD.
12-12-2011 Bottom line is you need to see the implementation of the Erbil and announcement of the ministers & then the rate will show. No one knows the date, Shabibi doesn’t even know the date. Maliki wants out of Chapter 7 – not going to happen until it RV’s. I don’t see it happening on the 15th, the closer it gets to the end of the month, the hotter it gets, yes, it could go to the 1st of the year. I don’t see anything that says this is our week, next week looks better. A $6 or $7 rate, not right. Based on the official numbers, the rate will be $3.41.
1-1-2012 there will be no RV on Sunday or Monday or Tuesday…the earliest time would be around Wed or Thurs of Next week if it happens. there is things starting to take place that gives me hope for the end of the week…Look for the announcement of the Ministers and the completion of the strategic council…do not believe the 4 to 8 dollar rates and do not believe all the hype about the UN or IMF or anybody forcing Iraq to do anything…they are just about finished putting Maliki in a position to show all of this…Exxon, Shell, have said if Iraq does not start paying then they were going to shut there operations down… this was such a great sign because it puts Maliki in a position that he cannot afford…this is coming to a close.
1-9-2012 Iraqs GOI is coming together and they are getting ready to show the ministers. ..Watch for Ministers to show… I believe there are better times than others to show this thing…so my way of thinking is at the end of Business Day In Iraq on Thursday or the Start of Business in Iraq on Sunday….because it makes the most sense… Monday Tues is out of the question this week so I look to the latter part of the week and the Sunday morning for us…My Rate has always been 3.41, because it makes the budget work…I will say that this month is shaping up very good and the next 2 weeks do hold lots of promise…this is on the last legs of the journey.
2-9-2012 Exxon is shutting down if Iraq doesn’t pay them. The biggest thing about the Arab Summit is to show these guys they’re big enough…they’re arrogant enough. Exxon would have to pack up to show them but they think they need them. I don’t think they’ll have an Arab Summit if they don’t get this going. Next week ought to be a very hot week for us…this conference has got to start…it’s all a matter of timing as to how fast they get out.
2-27-2012 I am looking for this thing soon but it will happen after the conference, do I know when the conference will happen i do not yet but I believe this next week should enlighten us on that…So this next week look for a date or a no confidence on Maliki…the big event the Arab Summit must have RV to pay for the Summit. I do not believe at this time they will move the summit even tho Maliki’s group has asked to have the national conference delayed until after the summit…that cannot happen.
3-11-2012 This Arab Summit will not take place until the RV. I do think the Arab summit has them pinned…they have to have the money and Kuwait said you [Maliki] can’t come on the 14th until you have the money…I think we’re in a spot where it’s about to break, but I just don’t know which way…either he finds a way out of it or we find the RV.
3-14-2012 he [Maliki] went and signed papers to pay Kuwait…They gave him until Sunday to make good on GOI and RV… Before or Iraq gets the Summit pulled.
3-21-2012 We need to see these political things done: 1. The Ministers 2. The Stratigic Council. Then right after we should see the RV. That should fulfill everything Sahbibi wanted. It’s never looked this good. Shabibi said he will change the exchange rate to make up the budget – $3.41, $.86 doesn’t make the budget work. This is a great time, we are seeing this come together.
4-2-2012 Iraq did not have the money to do the Arab Summit so they just stayed at the airport for all the meetings. They did move some of the meetings to the green zone, all of which the United States provided the security…The two biggest countries did not really participate in the Summit. And, by everyone’s standard, other than Maliki’s own group, was the biggest bust there could be. Saudi Arabia did not go because Iraq has not lived up to the agreements that Maliki signed off on. That is…showing the Government and letting the money RV. DO NOT WORRY there is still pressure on Maliki to finish at the National Conference on April 5th. which is when they promised to show the Ministers and the Strategic Council.
4-2-2012 So, do we look for the RV? No we look for the Ministers and the GOI. Ban Ki Moon, from the UN, did not go to the Arab Summit to release Iraq from Chapter 7. He went on behalf of another country trying to expose the fact that Maliki Lied on Documents…”and by lying…all things were signed and promised to be done before the Arab Summit.” The only reason they were not done is Maliki wanted to go to the Summit with total control of Iraq. This has back fired on him and now he is facing the wrath of the Kurds which started today…they have quit sending oil. This is a very great sign So do not expect anything until the 5th. It can happen at anytime, but do not expect until the 5th. If there is no GOI, then we will have to see what is happening at that time.
4-5-2012 There’s pressure – tremendous pressure to get the government set up…it doesn’t mean it’s tomorrow, but it does mean it’s not far from the road. If they have it, you’ll see the strategic council and then the money…there’s no if’s, and’s or butt’s…you don’t have to worry about a $14 dollar or $4 rate…It drives me up against the wall with 86 cents….it only means to remove 000’s off the street…you can’t remove 000’s off a rate. Don’t worry about the rates falling from the sky on the bank screens…it’s bs…it will show on the CBI…Just check the CBI and if it hasn’t changed , it hasn’t changed. My number is $3.41.
4-26-2012 The National Meeting has to take place in the public eye. All that is left is an announcement. As soon as Maliki announces the Stratigic Council he looses 2/3 of his power; as soon as the ministers are announces it becomes law. It’s not the IMF, it’s not Chapter 7 etc., holding this up, it’s one man [Maliki]. Now Shabibi says, I’m not pulling the trigger until I get the power sharing. When we see the dates for the National Meeting…that’s our date, well then, Maliki does have to show up. The removal of the 3 zeroes has nothing to do with the rate, it is just about removing them from the streets. The rate, $3.41 based upon the budget. IMO, it can go a couple more weeks, but not much longer than that. I really believe that we are at the end of this.
5-7-2012 We are really close to seeing the National Conference. Maliki has said that he is ready to do this. All has been done in Parliament. All that needs to be done is the Stratigic Council and the Ministers, announced in the public. What we are looking at is political. Are we close, I believe so, as soon as Talabani announes the National Meeting, we are done with this thing. Chapter 7 will not be lifted until we have a Stratigic Council & Ministers. Follow the news and look for these certain things. Do we feel that this is coming to an end – yes. Maliki can force them to call a no confidence. Do I think he will – no. I feel very good about where we are at. Each day that goes by for the next 2 weeks is a good day. We were kind of hoping to see the National Conference today, but it didn’t show. Rate – $3.41, it’s all about the budget.
I don’t enjoy posting this because Randy comes across as a nice guy, but facts are facts. Randy has a track record over the past year about as good as BGG and Frank. I hope my fears aren’t confrimed but at this point he seems to be going the direction of so many of these guys – down pumper alley.
For further consideration you can listen to some old conference calls featuring RK.
(8/29/12 …. UPDATE!!! Audios are working now. 🙂