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

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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

The Iraqi Dinar Scam

There comes a time when the facts are gathered and weighed in the balance. Opinions become validated or invalidated by the facts that support your point of view. I have said that the Iraqi dinar is a scam. Many people have disagreed with me. Now it seems that the state of Oklahoma has issued a warning regarding this currency back in 2012.

“Oklahoma residents have been offered unsubstantiated claims for extraordinary returns on Iraqi Dinar investments. High pressure sales techniques are used when offering the investment including stating this is a time sensitive investment that requires immediate action. The majority of these investments result in the Oklahoma investor’s complete loss of principal.”

“Irving L. Faught, Administrator of the Commission urges investors to learn the warning signs of investment fraud and independently verify any investment opportunity as well as the background of the person and company offering the investment. The Commission provides detailed background information about those who sell securities or give investment advice, as well as whether the products being offered are registered transactions. Visit the Commission website, securities.ok.gov, to check out the registration of a broker-dealer, investment adviser or investment products.”

http://www.securities.ok.gov/Press_Releases/PRDetail.asp?ID=74

Washington State issued a similar warning in 2011 part of which says,

“Several websites have recently begun advertising investment opportunities in Iraqi Dinars, the currency of Iraq. These websites are asking the consumers to send a check, wire, money order, or pay cash upon delivery of the Dinars. What consumers are not told is that the Dinars can be redeemed only in Iraq, as most of the established currency exchange houses and banking institutions cannot convert the Dinar to US dollars. Since no exchange exists for the Iraqi Dinar, dealers can charge whatever they want to sell and buy back the Dinars.”

http://www.dfi.wa.gov/consumers/alerts/iraqi-dinar-scams.htm

Banks stopped selling the dinar at the beginning of 2011 following Wells Fargo’s purchase of foreign currency exchange in Ireland. Now the only place left to purchase the dinar is directly from the dealers. Forbes even calls this investment a Scam

http://www.forbes.com/sites/jayadkisson/2012/07/30/you-cant-fix-stupid-the-iraqi-dinar-scam-lives/

http://www.forbes.com/sites/johnwasik/2012/01/19/the-curse-of-saddam-iraqi-dinar-deals/

There is a lot more evidence posted throughout this blog that shows that any investment in this currency is indeed a scam. Yet that does not seem to matter. Many people are willing to use emotion and hope to hold on to something that is not real in order to face tough times. Many people who invested are down on their luck. This investment seems to be their last hope and they become emotionally attached. You can’t use logic and reason with people who did not use logic and reason to arrive at their point of view.

Forbes even calls out investors for not being transparent

http://www.forbes.com/sites/johnwasik/2012/06/19/iraqi-dinar-soars-again/

What can be done for the people who invested in this worthless paper?

As I have said in the past, I believe that if Iraq does redenominate that the dealers would vanish. They would be gone. I caught heat from many people for this point of view. My reasoning was due to the legal process. I reasoned that many people would figure out that they were taken advantage of. If the dealers began to get a lot of lawsuits, they would just close up shop and vanish. I think legally they would be held liable in both criminal and civil cases. This would be their motivation.

I have read on some forums were people have physically threatened those who sell dinar if they found out they were lying. So all this would provide the motive for the dealers to close shop. Now it seems that information has been collected for class action lawsuits against dealers and forums alike. If you are stuck holding dinar or if you took a loss you can now join the class action process. If the lawyers get enough people to sign up they will pursue the case. Here is a link to sign up.

http://www.iraqidinarscam.info/iraqi-dinar-lawsuit/

For more information about this visit this link

http://www.iraqidinarscam.info/

By now most government agencies are calling this a scam and you have a right to file a complaint with the U.S. Securities and Exchange Commission.

https://tts.sec.gov/oiea/Complaint.html

People send me many stories about their experience with the dinar. This investment has caused more divorces and broken homes then I can count. Usually a spouse gets carried away with the get rich quick promises and believes the dinar is a sure thing. They tend to go overboard and sell everything they can get their hands on just to buy even more dinar. Why do people believe the dinar is a sure thing? They get this impression from different forums on the internet. Apparently, this link above is seeking information about dinar forums too.

So if you have been a victim of the Iraqi dinar investment you can now file a complaint and register to take part in a class action civil law suit. If you have not invested in the dinar but suffered the consequences from a family member investing in the dinar I would encourage you to tell your story as well. Was the Iraqi dinar the reason for your divorce? You would be surprised at just how many marriages were broken up as a result of a spouse going off the deep end! You can even use the form on this site to tell me your story as well. everything is kept confidential and I don’t sell or share any information. Many people have told me their story and that action has encouraged me to keep this site going. here is the link.

https://iraqcurrencywatch.wordpress.com/about-iraq-currency-watch/

Scroll to the bottom of the page.

Book Update

Progress is being made on the book. It is finished and the cover is done. The final proofreading is almost complete. After that the copyright process starts. I will keep you posted as I get closer to release. Although the focus of this book is not the dinar it is used as an example to explain a few things. There is a whole chapter dedicated to the dinar and it is mentioned throughout the last part of the book.

 

 

The Dinar Will Not Be A Reserve Currency

I have read on various forums that people believe the dinar will be a reserve currency. Reserve currencies were first set up under Bretton Woods. This is where a country would hold a certain amount of another nation’s currency as a reserve to give that nations currency value and worth.

So does the dinar qualify, or will it qualify after the mythical revalue happens? How likely do you think it is that they will replace the US dollar (an over printed fiat currency) with the dinar (another over printed fiat currency) as a reserve in the event of a complete global collapse?

I have another blog that I maintain called Biblical Views and World Economics. It really has little to do with biblical views and more of a focus on world economics. I have about 4 years of research on global economics that is displayed through this blog. Lately I have been writing for that blog. I just finished an article called, The Monetary History of America. This topic is so important to our understanding of money that I decided to make this a page on the site instead of an article or post.

It is amazing to me how the bankers, central banks, and the money changers have been screwing things up for the last 300 years. There is a lot of doom and gloom with the economy and our current financial system. A lot of prophets are predicting the end of the dollar and the reign of some other standard overnight, but is this a practical point of view? Will the dinar be the savior of the monetary world like all the forums and gurus predict? Highly unlikely! In fact this is not at all possible.

Will the dollar crash overnight? Even if this was the case it is highly unlikely that the new standard will be another over printed fiat currency from a country with no infrastructure and whose entire GDP depends only on oil given the track record of such currencies.

So people are returning to real money. (Gold and Silver) Prices for these metals have soared as people stock-pile them and as nations add them to their reserves. The main reason people are stocking up on gold and silver is because they can see what is happening with the dollar. In my new blog page we cover the history of money in America. When you study this out some interesting things come to light. I will talk about just a few highlights here. If you want to read the whole thing just click on the link below

http://bvawe.wordpress.com/the-monetary-history-of-america/

“James A. Garfield became president in 1881.Throughout Garfield’s extended Congressional service after the Civil War he fervently opposed the Greenback, and gained a reputation as a skilled orator. President Garfield advocated a bi-metal monetary system”.

Under this system the metal was the money and the currency was merely the receipt for the money.

“Ulysses S. Grant was our 18th president. There was a panic in 1873 which led to a depression for 5 years. People wanted more paper currency in circulation. The Inflation Bill was pushed through on April 14, 1874 to increase the nation’s tight money supply as a result of the contraction act. Many farmers and working men favored the bill, but Eastern bankers wanted a veto because of their reliance on bonds and foreign investors. On April 22, 1874, Grant unexpectedly vetoed the bill on the grounds that it would destroy the credit of the nation.”

“Stephen Grover Cleveland was the 22nd and 24th President of the United States. He is the only president to serve two non-consecutive terms. (1885–1889 and 1893–1897) In his second term the panic of 1893 struck the nation. The panic was worsened by the acute shortage of gold that resulted from the free coinage of silver. Cleveland oversaw the repeal of the Sherman Silver Act. At the time the repeal seemed a minor setback to silverites, but it marked the beginning of the end of silver as a basis for American currency.”

“William McKinley is our 25th president. He secured the passage of the Gold Standard Act”.

Every major currency left the gold standard during the Great Depression. This put and end to what is known as the classical gold era. Some of the doom and gloom prophets that are forecasting and end to the dollar are calling for a return to the gold standard. While this idea may have some merit, the gold standard did not protect anyone during the great depression and in fact the faster nations removed themselves from this standard the faster their economies recovered. (Sources and links provided from original article on my other blog)

The big mistake in my opinion was the removal of silver and that gold was the only metal used for money, or to back money. I think James Garfield had it right. A bi-metal monetary system would be better. But whatever system winds up replacing the dollar just know it won’t be like anything we had in the past. In fact I believe that when the dollar is replaced it will be a whole new system of exchange. Gold and silver will serve to protect people while the new system is being set up. That’s why prices are going through the roof. Fear is driving the market. Whenever people panic they always run back to real money. (Gold and Silver) paper fiat currency is not real money. It might as well be monopoly money. For now though, the dollar has value.

I don’t agree that the dollar will crash overnight like some people think. I think the dollar will meet a gradual demise. The indicator is oil. Two thirds of our currency is overseas and it is used to buy and sell oil. Since the dollar is the medium of exchange for oil, other nations secure the dollar by their oil supplies. It does not matter what quantity The Federal Reserve puts out. Although this weakens the dollar it won’t destroy it. When nations start to use some other medium to exchange for oil, then those dollars overseas will no longer be needed. When that happens most of all the foreign U.S. dollars will make their way back to the United States where they originated. When this happens hyperinflation will set in as there will be too much money in circulation.

The cause and effect of this will mean several things. First we as Americans will see a dramatic fall in our standard of living. America’s credit rating will plummet. And the economy will adjust accordingly. The adjustments will be gradual. Second, America could face a redenomination of its own. We should be familiar with this process after we watch what happens with the Iraqi dinar. Third, there will be a new global exchange that could move beyond the medium of fiat currencies, or the nations that held our debt will be the new reserve currencies. What will the new system be?

http://articles.nydailynews.com/2012-06-01/news/31965723_1_verichip-dna-testing-microchip

Who really knows for sure. What will America do when our dollar is no longer the medium and standard for the world? Simple, they will start drilling for oil here in America and tap America’s vast oil reserves that until now remain untouched. For more information on this, research the petro dollar and see its global impact. This is also talked about in great detail on my other blog about global economics. (BVAWE)