Why The Iraqi Dinar Will Never Revalue Part 1

podcast 7Sam I Am came by the studio last week. We began to have a discussion about the pending indictment for Sterling Currency Group. The case was brought before a grand jury on February 10th. The indictment was handed down soon after.

It comes as no surprise that many of these dinar gurus are paid by dealers to lie about the currency. In fact, some of these guys are paid well. The biggest problem is that they are lying about basic economics. They throw out junk economic terms with half meanings in order to fool people who have no background in economics. This includes most of the population.

45c98-sam252822529Before the dinar I could care less about economics. I only learned about this subject as an investor. The more I learned the more I knew I was scammed! If more people knew why it is impossible for the dinar to have a massive revalue like the gurus claim then there would be no one left to scam.

5575f-marcusSo while Sam and I had our chat we decided to do a podcast explaining the basic economics of this guru fiction and why it is impossible for the dinar to revalue in this manner. By the time your done you should know why the revalue or any revalue with any currency like the gurus describe is purely fictional. We had a long chat and it is broken down into two separate podcasts. Here is part 1

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This Podcast was recorded on February 18th 2016

More Dinar Indictments

In the fall of 2012 three members of the BH Group (Brad Huebner, Charlie Emmenecker, and Mike Teal) and their cohort in a hedge fund scam Rudy Coenen were all indicted for dinar fraud.  Since that time they were all convicted and sentenced.  In June of last year we reported the federal civil complaint against Sterling Currency Group in Atlanta and the subsequent raid.  Well today that complaint was followed up with four indictments.  Ty Rhame, James Shaw, and Frank Bell from Sterling were indicted along with TerryK (Terrence Keller) from the GET Team. (pictured below in order)

 

Ty Rhames  James-Shaw  Frank Bell  Terrence Keller

 

Except for the hedge fund these are basically the same charges that the BH Group faced.  This is now officially a trend.  I believe more indictments are on the way.  Marcus and I started writing about these guys and their lies four years ago, and everything we said has been vindicated.  The dinar investment is a scam, and the people promoting it are scammers.  Feast your eyes on this.

 

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Executives and promoters of Atlanta-based Sterling Currency Group LLC were indicted Monday for their roles in an alleged $600 million scheme to fraudulently induce investors into buying the Iraqi dinar.

According to U.S. Attorney Horn, the indictment, and other information presented in court: During the scope of the conspiracy, the Iraqi dinar was touted by some as a potential investment opportunity. Information publicly available on certain internet websites, blogs, chat rooms, and conference calls fueled this speculation by predicting that a “revaluation” of the Iraqi dinar would occur imminently. A “revaluation” or “RV,” in this context, meant a sudden, exponential rise in the value of the Iraqi dinar as compared to the U.S. dollar and other relatively stable global currencies. Individuals who owned Iraqi dinar would realize potentially enormous gains if an “RV” ever occurred in this manner.

Sterling Currency Group, which also did business as Sterling Online Processing Services LLC and Dinar Banker, was a Georgia corporation with its principal place of business in Atlanta. Sterling sold and exchanged so-called “exotic currencies,” including most predominantly the Iraqi dinar.

Tyson Rhame and James Shaw were co-owners of Sterling, which began operations in 2004.

Frank Bell began working for Sterling in 2010 and became Sterling’s chief operating officer in 2011.

According to the indictment, Terrence Keller, who was also known as “TerryK,” led an Internet-based group known as “The GET Team,” which consisted of a website, an internet chat forum and weekly conference calls in which, among other things, information was disseminated to participants concerning the potential investment value of the Iraqi dinar.

Keller, through The GET Team, was one of the leading internet-based proponents of the “RV” theory. On The GET Team’s website, internet chat forum, and on weekly conference calls, Keller is alleged to have falsely claimed to have information from, and verified by, high-level confidential sources in the U.S. government, the Iraqi government, international organizations, and major financial institutions, regarding an imminent “RV.”

http://www.bizjournals.com/atlanta/news/2016/02/22/sterling-currency-group-execs-indicted-in-600m.html

http://www.justice.gov/usao-ndga/pr/atlanta-executives-and-internet-based-promoter-charged-scheme-defraud-investors

https://www.iraqidinar.org/criminal-indictment-of-james-shaw-tyson-rhame-frank-bell/


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We are in the process of producing more podcasts on this and related material, so stay tuned over the coming days and weeks.  It’s getting very interesting.

 

458b3-sam

Sowing and Reaping

I have made a very strong case on this blog as to why the Iraqi dinar cannot possibly revalue. Those who cannot see it at this point are probably the ones who don’t want to see it. This may be because they are over leveraged. They went way overboard on this so-called investment. They don’t want to believe that there will be no revalue because if they accept that, then the next logical conclusion is they will lose all hope for their current situation. The dinar may serve as their only hope for what may appear to be a way out.

Throughout the course of this roller coaster ride known as the dinar there have been many people lying through their teeth. The agenda was simple. These people were making money off of a gullible public who knew nothing about economics. Their goal was to trick people into believing in a massive revalue of Iraq’s currency.

The money from this scam was made several different ways. Money was made through commissions and kickbacks from various dealers. Money was also made through VIP programs and newsletters. It was also made through forums and websites. Money was also made through group conference calls that these guys hosted. All of this hype about the dinar was spread through these programs. It just so happens that spreading the hype became profitable.

These guys became known as Gurus because they presented their research and themselves as being all-knowing about the currency. There were those such as myself and others that actually believed in the investment and thought it was genuine. We also did our fair share of research. The only problem was my research was based on how currency actually works. I would have saved a lot of time and heart ache if I focused on the lies being told rather than trying to understand economics in general. I should have verified everything being said. Not everyone doing research was a Guru. The Gurus were these larger than life characters who seem to have all the answers. Later on many of these guys were exposed through a website known as dinar douchebags.

dinarThose who over leveraged and thought they would get rich quick followed everything these Gurus said, and they accepted all the lies as though it was the gospel truth. It did not matter what facts you put up. Facing the truth also meant facing reality. This was just too painful and scary for some people. No one was going to get rich except the dealers and the Gurus.

One such person/guru was a man by the name of TNT Tony, AKA Anthony Renfrow. This guy said a lot of things that were just false and he had no way to back up his claims. He gathered together a huge following. He had a campaign that most people remember as “we are the people, release the RV”! This cry which came from him and his followers on twitter resulted in an article produced and written by the BBC. This did not stop new sheeple from following him, and this get rich quick scheme still began to gain some momentum because of this release the RV campaign.

Now it seems that judgement has finally come for TNT tony. Before the dinar scam Tony was involved in something called 14 Daily Plus. Check the link below

http://www.ripoffreport.com/reports/directory/tony-renfrow

Here are links where you will find the government’s indictment against Renfrow

https://www.docketalarm.com/cases/Kansas_District_Court/2–12-cr-20041/USA_v._Renfrow_et_al/1/

The quotes below are from the indictment

“12. During the period from in or about March 2006, to in or about May 2007, in the District of Kansas and elsewhere, RENFROW and FOX, together with each other and others, both known and unknown to the Grand Jury, knowingly devised a scheme to defraud individuals to join 14DailyPlus.com as “investors,” and to obtain money and property by means of material false and fraudulent pretenses, representations and promises made to individuals to convince them to join 14DailyPlus.com.

13. It was part of the scheme to defraud and to obtain money and property by” means of material false and fraudulent pretenses, representations, and promises, and in furtherance of it, that the defendants knowingly and intentionally engaged in and caused the following activities:

a. Recruited individuals to become investors in 14DailyPlus.com, when in truth and in fact there was no investment vehicle;

b. Enticed purported investors with the promise of a 14% daily return on the purported investment, when in truth and in fact such a return was completely unrealistic;

c. Falsely promised a return on the purported investment to be realized by merely clicking on certain web pages for a limited amount of time each day;

d. Recruited additional “investors” used as the basis for the individuals to receive the “return” on the original “investment,” when in truth and in fact no such returns were made to the “investors”;

e. Solicited “investment” funds to be paid in cash up to $9,000, which made the tracing of funds more difficult and avoided currency transaction reporting requirements;

f. Regularly conducted conference calls via telephone and Internet for recruitment of new “investors” and conveying assurances of the program, when in truth and in fact, these were utilized to lull the individuals into believing the program was a legitimate investment vehicle; and

g. Promised returns on the “investments” despite having no secured method to process payment of the investment returns.

During the course of this indictment many people stood up for Renfrow. Over the course of several conference calls various people said, “Leave Tony alone, let him have his day in court. We should not judge him until we see the outcome.” It was believed by some that Tony would be vindicated. Meanwhile this was used as an excuse to spread his lies and present this false information as “intel”! This only served to promote false hope within the dinar community and gain new investors. While some people were on to him, others defended him.

Well as it turns out, Renfrow had his day in court. Instead of fighting it as some had claimed, he actually admitted guilt. He entered into a plea agreement which was filed on May 21st 2015. This plea agreement is only for one count of the indictment. You can download a copy of this agreement by clicking on the link below

http://kiwi6.com/file/p4caonjudt?autostart&utm_campaign=hotlink&utm_source=http%3A%2F%2Fwww.truthcall.com%2Ftony.html&utm_medium=rand&utm_content=p4caonjudt

Let’s read some quotes from the plea agreement

Judgement and Sentence

By entering into this plea agreement, the defendant admits to knowingly committing this offense, and to being guilty of this offense. The defendant agrees to plead guilty by May 21, 2015. The defendant understands that the maximum sentence which may be imposed as to Count I to which the defendant has agreed to plead guilty is not more than twenty years of imprisonment, a $250,000 fine, three years of supervised release, restitution as determined by the Court, forfeiture, and a $ 100 mandatory special assessment. The United States agrees to move to dismiss the remaining counts of the indictment at the time of sentencing.

This means that the rest of the charges are dismissed

2. Forfeiture of Assets: The defendant agrees to the imposition of forfeiture judgment against him in the amount of $ I .676 million which sum represents proceeds obtained through the scheme charged in Count l.

The Plea agreement also says

The “investors” were recruited through these ploys and encouraged to either deposit their “investment” into one of the defendant’s accounts with Bank of America or wire-transfer funds into the defendant’s account. alliteratively, codefendant Fox encouraged “investors” to provide him with cash. At least six “investors” provided approximately $195,000 cash to codefendant Fox as part of this scheme. At least twelve investors deposited or wire-transferred approximately $170,000 into the defendant’s bank accounts, and the defendant then used the funds for personal expenditures with multiple monetary transactions involving proceeds of the wire fraud in excess of$10,000. At least 202 “investor” victims have been identified, who lost approximately $ I .676 million.

The parties propose, as an appropriate disposition of the case, a sentence of not greater than 1 year and 1 day in prison on count 1; three years of supervised release; no fine; restitution as determined by the Court; forfeiture judgment of $ I .676 million; and the mandatory special assessment of $100.

So it looks like tony will also get a year of jail time. People take dinar advice from this guy? He is one of the so-called experts? Maybe we can now safely add falsely claiming a revalue of the Iraqi dinar to his defraud list of charges. We will wait and see if this actually happens as he has yet to answer for any of his dinar pumping.

These are just some of the many types of experts you will find in the dinar community. This investment goes against all logic and reason. For this reason people cling to conspiracy theories such as the Global Currency Reset or GCR.

While there are obvious problems with the dollar, America’s dollar is not going to crash while every other over inflated fiat currency that is backed by the dollar soars in value overnight! This is just too ludicrous to even imagine. If people want to know my opinion and see the research on the GCR, then you can read various posts throughout this site. If you want to know the research in even more detail with all the resources to back it up, then you can get my book from Amazon.

06 GCR-mockup6

If you want to know even more information about Tony’s Plea agreement then download the agreement and read it for yourself. You can also click the following link.

http://www.truthcall.com/tony.html

https://www.youtube.com/watch?v=1c6pAmDw1oQ

Lies, Deceit, and Denial

I think most people lie because it is more convenient to lie. It makes you look like the hero. Who cares if it is not based on truth, It is all about the perception right? At least that must be the mindset of the gurus. It is harder to tell the truth especially when it puts your past statements in question. One reason for this is because the truth is not always well received. People judge you because you are messing with their comfort zone. They question your motives and find ways to discredit you. Anyone who has been truthful without agenda, impartial without taking sides has experienced this. Even though the truth brings conflict and it may be harder to tell there is freedom in it. There is bondage in lies and deceit. Yet I think that people sometimes like being in bondage or just maybe they don’t know they are even in it.

In my last article I talked about how pegged rates worked. I talked about how Iraq is using the U.S. dollar as a reserve for the dinar. I talked about the amount of currency in circulation and how the amount of reserve dictates the revalue. I talked about how they can’t raise the value of the dinar drastically without acquiring a vast amount of additional reserves.

The type of feedback I got was interesting be it email or comments. I was actually accused of working for the dealers. I get that a lot.  Apparently some people think I talk bad about the dinar in an effort to get people to sell their dinar back to the dealers so they can resell it to other people. I then supposedly get a kickback for dinar that people sell to dealers. Anyone who believes this has got to know that this is denial on steroids. At least on their part

So let me be clear about my stated goals and desires concerning the dinar so there are no misconceptions.

1. If you are considering making your first dinar purchase, It is my hope that the factual information on this site regarding the dinar currency will make you decide otherwise.

2. If you have the dinar it is my desire to inform you that you have been told lies in an effort to sell you more. These lies amount to nothing less than fraud! I will give you examples shortly. But in the very least I hope you do not buy anymore

3. I would like to see dinar sales totally and completely shut down by the US government. I would like to see them prosecute certain dealers who have a money service business license to sell dinar based on the fact that they are marketing it as an investment with no license to do so. In the process of this they are making false claims to increase their sales.

4. If you currently hold dinar it is my goal that you are informed. I hope you will come to know that you have been scammed so that you can decide for yourself whether to keep it or sell it while you are still able to do so. You can sell it back to the dealers or you can sell it on eBay. I really don’t care. You won’t be able to sell it to banks. At least this is the case for my area and surrounding states. I know this because I tried to sell to the banks first.

5. My final goal is to expose every lie that made me invest in this currency in the first place. If I can provide the evidence and proof for the lies that circulate within the community then that will help people to make an educated decision and avoid the purchase of the dinar in the first place.

So now it is time to expose a common lie that circles within the dinar community. Here is an indictment that was handed down to the BH group. Notice some of the things that are in this indictment. I am taking this word for word.

The “BH Group” was formed by BRADFORD HUEBNER to market and sell the Iraqi official currency, the “dinar,” to individuals as an investment.  The BH Group offices are located

BRADFORD HUEBNER filed paperwork registering the BH Group as a money service business specializing in the sale of Iraqi dinar.

CHARLES N. EMMENECKER is a self-styled entrepreneur who resides in Sylvania, Ohio. In recent years, CHARLES EMMENECKER has primarily marketed and sold a health­ related beverage described as “Xango.”    In August 2010, CHARLES EMMENECKER merged his direct-marketing business with BRADFORD HUEBNER’s dinar business, which BRADFORD HUEBNER and MICHAEL TEADT were operating. By this time, BRADFORD HUEBNER had allied himself with a Jacksonville, Florida based resident by the name of RUDOLPH COENEN, in connection with marketing two non-existent “hedge funds” to both the BH Group’s dinar customers, as well as CHARLES EMMENECKER’s Xango distribution list.

MICHAEL TEADT entered into a conspiracy with BRADFORD HUEBNER regarding the sale oflraqi  dinar currency in July 2010.

5.  RUDOLPH M. COENEN is a resident of Jacksonville, Florida and holds himself out as a currency expert and former Vice President at JP Morgan Chase. RUDOLPH COENEN has variously claimed to be a former Marine who was wounded in combat during the first Gulf War, as well as a Purple Heart recipient. In fact, RUDOLPH COENEN worked for JP Morgan Chase for a total of one day as an Account Executive/Loan Officer and not as a Vice President, never served in the first Gulf War, was never wounded in combat, and never received a Purple Heart. RUDOLPH COENEN was instrumental in developing materially false and misleading statements regarding the Iraqi dinar currency and in falsifying information regarding the two non-existent hedge funds.

14. BRADFORD HUEBNER, RUDOLPH COENEN, CHARLES EMMENECKER, and MICHAEL TEADT often discussed during weekly telephone conference calls with potential investors, Executive Order 13303 which they alleged to protect the right of U.S. citizens who invest in Iraqi dinar currency.  In fact, Executive Order 13303 protects assets of the Development Fund of lraq (DFI) and other Iraqi assets from legal attachments or liens.  The Coalition Provisional Authority created the DFI in 2003 in order to promote the transparent use of Iraqi funds for purposes benefiting the people of lraq. Any assertion that Executive Order 13303 promotes, protects, or regulates the sale of, or investment in, Iraqi dinar is false.

15. BRADFORD HUEBNER, RUDOLPH COENEN, CHARLES EMMENECKER,  and MICHAEL TEADT often discussed during weekly telephone conference calls with potential investors, the U.S. Department of the Treasury holding the Iraqi dinar, further alleging the Department of the Treasury held trillions of lraqi dinar for investment purposes. In fact, the U.S. Department of the Treasury does not hold any Iraqi dinar for investment purposes and holds only a nominal amount for use in daily operations. It was further the purpose and object of the conspiracy that BRADFORD HUEBNER,

RUDOLPH COENEN, CHARLES EMMENECKER, and MICHAEL TEADT and others known and unknown to the Grand Jury, would aggressively market the Iraqi dinar and the non-existent hedge funds, to the point where their customers numbered in the tens of thousands, both in the United States and in foreign countries, thereby greatly increasing gross revenues to over $24 million U.S. dollars in less than a two-year period. In addition, the Iraqi dinar gross sales were materially enhanced by the merger of BRADFORD HUEBNER’s dinar and hedge fund sales list with CHARLES EMMENECKER’s Xango distribution list.

Read the full indictment.

http://www.realscam.com/attachments/f12/1576d1348185792-bayshore-capital-investments-bh-group-bhgroup_indictment.pdf

So here are two main lies that circle the dinar community and the forums.

1. The government has trillions of dinar and they are waiting for the RV

2. Executive order 13303 makes it legal to sell the dinar and the executive order protects the dinar.

So our proof that this is not true is the fact that the government is pursuing a fraud case in part based on these two statements! Let us add this to the other lies that we were able to debunk on this site.

Here are all the actual true statements that are based on the facts.

1. The dinar will not be used to sell oil.

2. The dinar will not be used to rebuild Iraq.

3. There has never been a Kuwaiti revalue!

4. The lower denominations for the RV are not already printed

5. The dinar will not be an international traded currency

6. Iraq is not reducing the money supply

7. The Dinar will not be a reserve currency

8. The US does not have trillions of dinar

9. Executive order 13303 does not make it legal to sell dinar and it does not protect the dinar holder.

I purchased dinar based on all these lies. You may have too. This does not make us suckers. It makes us victims. The factual information on these statements was not easy to find. It took me two years. If the government is successful in this case (and they will be) then I think the BH group will be the first of many other gurus and dealers to be called into account.

Now I would like to talk about just one more lie that the indictment addresses. Let me quote from the indictment itself

7.  The term “revaluation” (casually shortened to “RV” in dinar-sales parlance), refers to the contention that at some point in the near future, the dinar will rise against the U.S. dollar, a circumstance which will enrich earlier purchasers of the dinar. BRADFORD HUEBNER, CHARLES EMMENECKER, RUDOLPH COENEN and MICHAEL TEADT repeatedly advanced claims to potential investors over the telephone, through web pages, and through a weekly internet conference call that even relatively small investors in the dinar would, following the “revaluation” or “RV,” become wealthy overnight.

8.  A “redenomination” of the dinar refers to an actual proposal by the Central Bank of Iraq, announced as recently as June 21, 2011, to re-print the currency to remove three zeroes from the physical dinar banknotes as a matter of convenience. A redenomination of the Iraqi currency would not lead to a revaluation by the same amount, and may have no effect on the currency’s value. Under a redenomination, a new currency replaces an old currency, but the value remains the same. Under the proposed redenomination, the Iraqi government would issue a new dinar note that will be equivalent to 1000 current dinars. The exchange rate would be 1.17 new dinars to the dollar, equivalent to 1,170 current dinars to the dollar.

So according to the Federal Government, the dinar is not going to revalue or RV. It is going to redenominate! In fact the government is pursuing a major fraud case based on the fact that the dinar will never RV! What further proof does one need! THE DINAR IS A SCAM!!!!!