Why The Iraqi Dinar Will Never Revalue Part 2

podcast 7This 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.

59336-sam252822529If 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.

5575f-marcusWe 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.

podcast 4Disclaimer

The podcast player may not display if you are using Apple’s Safari browser, but it will display in every other browser. This is a problem that is unique to the Safari browser. At this time we provide no support for this problem.

This page loads fine in every other browser and all aspects of the page are visible. Therefore we recommend that you view this site using a different browser. Chrome, Firefox, Internet Explorer, and the new Microsoft Edge browser all work well with this site and the Podcasts.

We recommend that you download one of these browsers for your Apple computer and use it in place of Safari. This is an issue with Safari. It is not a WordPress or an ICW issue.

Recorded on February 18th 2016

podcast 2Remember 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.

Gold                 Silver

Dinar Daily and TNTBS

Over the years I have seen several dinar forums that allowed and even encouraged openPonee discussion of the dinar investment – lop and all – to their members, but most of those have long since shut down as the forum owner saw the light and moved on.  There is one such site however, that has kept its lights on.  That site is Dinar Daily (www.dinardaily.net).  The site owner Ponee has turned the original home of Okie Oilman into a haven for guru busters.

When I closed down my blog a year ago, one of my devotees who goes by the handle TNTBS took up the cause and went after the likes of DC (TNT Tony’s intel guy) and Dinar Recaps, in addition to dogging Tony all the way to prison.

TNTBSTime and guru fatigue have taken their toll on the dinar community, and they have become increasingly fed up with the lies, obfuscations, distractions, and otherwise disgusting behavior of the devious dinar dirtbags posing as experts.  As a result, more and more people are taking up the cause of outing these jerks and exposing their lies.

In the coming weeks and months I think you can expect to see more gurus opposed, exposed, and deposed as the RV scam encounters its final death throes.  TNTBS is in the process of launching his new site, which will keep you up to date on his success in making life miserable for the scammers.  That site is www.tntbs.net.  Iraq Currency Watch and Dinar Daily will be working alongside of him and the other guru busters as we continue to shine the light of truth into the darkness of the dinar world.

 

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The Next Great Currency Scam (Mike Rothschild)

Over the past year, I’ve written quite a bit about the Iraqi dinar, the foreign currency that many self-appointed “gurus” try to convince buyers will suddenly “revalue” from being one of the most worthless currencies in the world to one of the most valuable. Dinar brokers sells bundles of the dinar that you can only buy in cash directly from Iraq, then you sit on it and wait for the Iraqi government (or President Obama, or the IMF, or whatever) to pull the trigger on boosting it hundreds of thousands of percent in value.

It doesn’t take a degree in finance to tell you that this is false. Many actual financial experts have debunked the myth of the Iraqi dinar “RV,” and while gurus have been promising for years that the magical day where millions of dinars turn into millions of dollars was right around the corner, it’s not, it never has been and it never will be. Iraq’s economy is nowhere near being able to support an electronically traded currency with serious value, and it might be a decade or more before that happens.

Fortunately, the dinar scam looks like it’s finally abating. There are numerous, well-written pieces by people at Forbes, Business Insider and others presenting well-researched and logical information about why the dinar is about as worthwhile an investment as magic beans.

The Vietnamese dong

Not only that, but law enforcement is starting to crack down on dinar brokers who exploit a loophole in currency law to sell cash as a collectable. Of the four dinar websites I mentioned in the piece, one, Sterling Currency Group has been raided by the FBI and shut down, while Bet on Iraq is now a dead link. Additionally, one of the most vocal dinar gurus, Anthony “TNT Tony” Renfrow, recently pled guilty to wire fraud in relation to a different prosperity scam – one that used many of the same techniques as the dinar.

But just as scams like the “Omega Trust” and NESARA begat the dinar scam, it’s only a matter of time before the resources put into selling and pimping this worthless currency is put toward selling and pimping some other worthless currency. Which one will it be? Here a few different national currencies to be on the lookout for as the next great money scam:

Vietnamese dong
If there’s one other currency that dinar gurus love to sell along with the dinar, it’s the dong. Vietnam has a complex history when it comes to currency, one intertwined with the fractured history of the country. Both North and South Vietnam issued their own currency, both called the dong, in the 1950s. When Vietnam was united by the communist insurgency in 1975, the dong was also unified. It went through several redenominations, lopping zeroes off the inflated exchange rate with old currency exchanged for new. For decades, Vietnam struggled with inflation, counterfeiting, and the dong’s lack of value against other currencies.

Finally, in 2003, Vietnam introduced new notes that were harder to counterfeit, and it developed a new banking system designed to handle large transactions.

Even with all of these reforms, the dong is one of the most, if not the most, worthless currencies in the world. It currently trades for around 21800 to one dollar, and only in cash, not electronically. Like the dinar, you can buy them in cash from brokers working under the “money service business” loophole. Like the dinar, the dong is massively overprinted. And like the dinar, they take a massive cut, usually charging between 20 to 25% more than the value of what you’re getting. And finally, like the dinar, the dong has lost value in the past year, as it traded at 21175 to one dollar one year ago. Dongs are becoming less valuable, not more.

But that doesn’t stop “gurus” from hyping them as the next great currency to rise when the “global currency reset” happens. They seize on minor details, like some US banks carrying dong to exchange for dollars. But there’s a simple reason for this – more and more Americans are traveling to southeast Asia, including Vietnam. While dollars are accepted, shopkeepers will usually round their prices up when dealing with dollars, making items more expensive than using the local currency. It’s not part of any massive currency reset, it’s just tourism.

The dong is a viable currency to buy if you’re going to Vietnam. Other than that, it’s useless as an investment. The Vietnamese government might attempt to redenominate it again, but as we’ve discussed with the dinar, redenomination is not the same as revaluing – one is a real and legitimate technique to bring down inflation, the other is pie in the sky nonsense.

Stacks of Indonesian rupiah

Indonesian rupiah
The rupiah is the currency of Indonesia, and while its pimping and selling are not quite at the level of the dinar or dong, don’t be shocked if it gets there. Way back in 1949, when Indonesia first gained independence, the rupiah traded for about 3.8 to one dollar. But hyperinflation hit almost immediately, and soon price controls had to be introduced. In the 70s, the rate was about 415 to the dollar, dropping even further going into the 80s. Despite Indonesia having a strong economy, the rupiah continued to drop in value, and crashed completely in August 1997.

In 2015, there was something of a gain, as money flowed into the country before its presidential election. But post-election, the rupiah crashed again, and hit a low of 13,000 to the dollar. Compare this to their value a year ago, which was 11710, and you have another currency that would have lost you much of your investment.

The country had vowed to redenominate the rupiah, but put that on hold while its economy stabilizes. In the meantime, unless you’re an experienced foreign currency trader (and chances are if you’re reading this, you’re not), stay away from the rupiah.

The infamous Zimbabwean 100 trillion dollar note

Zimbabwean dollar
Everyone likes a big number, and the bigger, the better. So it made news when Zimbabwae, hit with crippling inflation, introduced a 100 trillion dollar note, it made international headlines. It was also the beginning of the end for the currency, as in 2009, Zimbabwe announced they’d be phasing out their currency altogether, and relying on foreign currencies like the US dollar. The zim will become completely demonetized by the end of 2015, though there are unwelcome rumors that the country is experimenting with printing new (most likely much lower) denominations.

At this point, Zimbabwean dollars are worthwhile only as collector’s items. They literally are about to have no value as actual money, and the country is attempting to get the last notes out of circulation. This admittedly makes those 100 bazillion dollar notes valuable, and the highest ones go for around 20-25 bucks on eBay. But even then, the market is flooded with them. You’re not going to get rich off any money coming out of Zimbabwae. Nobody ever has.

Something else
The Chinese yuan, South Korean won, and various other Asian and Middle Eastern currencies are also mentioned as being the “next currency” to be revalued, despite nothing being the previous one. Chances are, it won’t happen, for both simple and complex reasons.

As always, be skeptical of anyone touting the benefits of buying large amounts of a cheap currency with lofty promises for the future. They’re almost certainly not true.

About Mike Rothschild

Mike Rothschild is a writer and editor based in Pasadena. He writes about scams, conspiracy theories, hoaxes and pop culture fads. He’s also a playwright and screenwriter. Follow him on Twitter at twitter.com/rothschildmd.

 

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Podcast 1 The Dinar Scam

podcast 2Podcast Description

Welcome to the first podcast for Iraq Currency Watch. This first podcast is more of an experiment. I am learning as I go so please be patient. Your feedback in the comment area will be most helpful. I have listened to several different podcasts to get an idea as to how to do this. In this podcast I review a brief history of Iraq Currency Watch. I also reveal new information regarding Sam I am. We also go over a valuable new resource that I think many people will find useful. The best thing about this resource is the fact that it is absolutely 100 percent free. I think many people will benefit from this. I hope you enjoy the first podcast from Iraq Currency Watch.

podcast 4

Disclaimer

The podcast player may not display if you are using Apple’s Safari browser, but it will display in every other browser. This is a problem that is unique to the Safari browser. At this time we provide no support for this problem.

This page loads fine in every other browser and all aspects of the page are visible. therefore we recommend that you view this site using a different browser. Chrome, Firefox, Internet Explorer, and the new Microsoft Edge browser all work well with this site and the Podcasts.

We recommend that you download one of these browsers for your Apple computer and use it in place of Safari. This is an issue with Safari. It is not a WordPress or an ICW issue.

Podcast Notes

Podcast 1In this area you will find the things referenced in the Podcast. First and foremost are the first videos I made regarding Kodi. They are listed below. The first video covers downloading and installing. the rest of the videos deal with customizing and configuring Kodi.

Check The YouTube channel  Building A Multimedia Center for more information

From the TV show called Front Line, The episode called Losing Iraq can be found below. Just click on it.

Losing Iraq

Thank You for listening to the first Podcast from Iraq Currency Watch.