You heard right. The rate just adjusted again. It is now trading at 1190 to one U.S. dollar. Sam i am predicted the rate would drop a while back on a conference call. So with that in mind an updated conference call just took place. Topics include how far the rate will drop and the future of the dinar. Here is the call in its entirety.
Of course, many of the dinar holders on YouTube did not like this news. We have been going at it pretty hard and heavy in the comment section. Some of the commenters came back and deleted their comments when they realized we were telling the truth. One of the people who has been leaving comments is a guy by the name of haissemweneht. When we were talking about the strength of the dollar he had this to say
“Remember when gasoline was worth 1 dollar per gallon? The value of the US Dollar is 14 – 16 percent less than a few years ago. Now gas is 3 dollars. I would say that the dollar is worthless.”
This is total GCR propaganda nonsense and this is what these guys do. They confuse economic terms and rant like idiots! The big mistake in this GCR talking point is the fact that they are taking a nominal inflation rate and judging the strength of the dollar by it to make the claim that the dollar has lost global value. These are actually two different things blended together to look like one thing. They are comparing inflation rates with exchange rates and claiming the dollar is weak!
First, we are talking about the global value of one currency against another currency. Let me give you an example. When we were invested in the dinar it took 1166 dinar to get one U.S. dollar. Today it takes 1190 dinar to get one U.S. dollar. This means that the value of the dinar has gone down and the value of the dollar has gone up. In fact, if you research this you will discover that the dollar is a lot stronger globally than most people know!
We are not talking about national purchasing power. We are talking about exchange rates not Inflation rates! If we were talking about inflation then it would only be fair to compare the United States inflation rates with other inflation rates. Let’s take his gas example. Gas went over a dollar in the 1980’s. In 1986 Gas was about 1.18 a gallon. That was 32 years ago. Now let’s look at what gas cost in England 32 years ago and compare that price with today’s price in England. By this dumb logic we would conclude that the pound is completely unstable.
Every country has inflation. That is a side effect of a decent economy. When the economy goes bad you have deflation or worse, hyperinflation. All currencies lose purchasing power over time. Even the dinar loses purchasing power and it had hyperinflation during the 1990’s. He was comparing the inflation rate of the dollar with the exchange rate of the dinar. These are two different animals and it is a really bad argument. The dollar is strong compared to other currencies, not inflation rates.
This is the type of typical GCR nonsense used to sell precious metals and dinar gurus steal the same talking points. They need the dollar to tank in their presentations in a feeble attempt to make the dinar look like a good investment.
Just as a side note, look at the name of our commenter who was spreading this nonsense. The name haissemweneht is actually the new messiah spelled backwards! I don’t think I would trust anyone who has a name like that. Thanks to Nash for pointing that out!
If you have been following this series on bitcoin then you should have a pretty good handle on this cryptocurrency by now. Part one gives a brief history of bitcoin and talks about some of the risks. Part 2 talks about why bitcoin will never be a viable currency. It also covers the limitations it has functioning as a legitimate currency. Read 
For our example we will look at gold. Gold’s all time high was hit in August of 2011. It was going for $1,917.90 an ounce. It pulled back that same day to $1880.00 an ounce. It’s all time high is officially 1889. 70. Later in that same year gold began to drop. Eventually it bottomed out in 2013 as we saw a drop by 28 percent. By 2014 gold hovered around $1140 to $1180 an ounce.
Many gold experts blamed the fall in price on bitcoin. At the time bitcoin was just starting to become popular. The story is that most people were pulling their money out of gold and buying bitcoin. This hype helped those that sold precious metals for a while. Then these gold merchants began to spread a false narrative of a Global Currency Reset. The more they attacked the dollar, the more sales they got. Now the hype was going to be that the dollar was going to crash any minute. This seemed easy to believe simply because the 2008 meltdown was still fresh on everyone’s mind. Many people were still hurting from those events, but the real truth about gold’s fall in value is much different.
When will bitcoin recover? Nobody knows for sure, but typically with these things, you will hear a lot of hype and blame from those responsible for selling bitcoin, and from those holding bitcoin. They may blame other cryptocurrencies, and there might be some truth to that. They may make claims that the dollar crash is emanate. They may even spread some of the same global currency reset nonsense that was used to hype precious metals and foreign currencies from third world nations!
In part 1 of “The Bitcoin Phenomenon” we covered all the background about this currency. We covered a brief history of cryptocurrencies, and we covered some problems associated with them. We also covered some of the risks. If you have not read part 1 then 
However, I do see something that disturbs me. There seems to be a lot of hype based on fiction with bitcoin as well. Because of the potential to make money, common sense has left many investors. Reasoning and understanding is left in the dust as people rush out to buy it. Some of the same patterns we have seen in the dinar world are starting to emerge with bitcoin. This cryptocurrency has acquired its very own set of gurus, and information is made up. Nothing is vetted or verified, and total fictional fabrications are made up to make the investment more attractive. This causes many people to over-leverage, and they are not aware of the risks.
Let me explain a few things and give my analysis. First, “fiat” does not mean “no intrinsic value”. Fiat currency is currency that is used by a government because of decree or law. Outside of that decree or law it has no intrinsic value. When gold was used for money it had value outside of any law or decree, whereas our paper currency does not have value. The law that gives the U.S. dollar value is the Federal Reserve Act, and a series of laws were passed during the early 1930’s which modified the act, making it even stronger. These laws serve to protect the dollar against counterfeiting and declare that it is the official currency of the United States. When you pay your taxes it must be in dollars!
Dinar gurus constantly made the claim that the definition of “fiat” is ‘no intrinsic value”, as if to imply that the dollar really has no value and it was all based on faith, even in regard to the law of the land. This is where some of the GCR propaganda comes into play. I now see bitcoin gurus making the same arguments that we debunked when the dinar was popular! The reason for this is to hype bitcoin so investors can make more money.
While bitcoin expands due to mining, there is no built-in contraction mechanism should demand drop. This is probably the main reason bitcoin has been so volatile in the past. This is why all cryptocurrencies are subject to pump and dump schemes. Cryptocurrencies will almost always have massive imbalances in supply and demand, because there is effectively an unlimited supply of them but a clear demand ceiling. The fatal issue for cryptocurrencies is that the supply can only go up! There is unlimited upside to the supply of all cryptocurrencies.
Another key feature of a currency is that it acts as a store of value. This means you can put your money into it and be reasonably sure that in normal circumstances its value will not fluctuate on a massive scale. Cryptocurrencies cannot do that. Bitcoin has had many hyperinflation episodes. In a few cases it has dropped as much as 80 percent in value. In some cases its ability to purchase goods has dropped more than 25% in the course of just one week. That is not a stable store of value.
Recently I sat down with Sam I am and we started to discuss the global currency reset. One hour and twenty minutes later we finished our conversation. We went into many aspects of this belief system. We covered a lot of the same information that is in the book and we talk about other areas of our websites where you can go and find much of the same information that is in the book. I put together a new website that promotes the book and it has links to the articles on ICW that contains much of this information. The link to the new site will be posted below the podcasts.
We recorded this conversation because we wanted to bring out areas of this belief system that are seldom talked about. I wanted to bring you the conversation in its entirety without chopping it up into weekly segments. Therefore I made two parts. If you are short on time then this should allow you to take a break. You can listen to the second half at a later time.
Iraq Currency Watch 