It was recently brought to my attention that Dave Schmidt, the former Washington state senator turned dinar guru, has a photo of a gold vault on his website where he says:
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“… we are moving into the new “Golden Age” where the world’s gold will be released for a shift and change to our planet and our world. Dave has countless photos of this gold that is beyond most people’s comprehension. This gold has been kept hidden from the public for thousands of years and is kept in custody by “keepers” at various locations around the world.”
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The photo accompanying the text is presumably one of those hidden gold locations that he mentioned, but it turns out that it’s actually a vault in the UK that was used as a dining hall during WWII. Seems Davie heisted the photo from a UK news site. (Thanks to RamblerNash at Dinar Daily for pointing this out to me.) The first photo below is a screenshot from Dave’s site, and the second photo is from a UK news article about the London vault.
Can you say “busted”? Now, Dave might claim that he never stated that this photo was from the secret stash, but I think the implication is obvious. Anybody reading his site and seeing that photo is going to assume that this is supposed to be a photo of one of those secret vaults. But I’ll tell ya what Dave … shows us the real photos along with some evidence that this gold exists and I’ll drop the matter. Introduce us to this nameless, faceless “ambassador” you’ve been talking to about the Dragon Family’s gold, along with some evidence that the Dragon Family actually exists and I’ll remove this post. For that matter, make one prediction about something … ANYTHING … that proves that you actually have any information worth listening to and I’ll humbly apologize for all of the “nasty” things I’ve said about you. In the meantime, you remain on my Schmidt list.
Here we go boys and girls. The whole dinar thing is about to implode. The dinar scam is going to cave in on itself. At least that is what some people are promising. Someone sent me a link to an article called “Iraqi Dinar Revaluation – Strong Thoughts From Jack.” I thought it had some good information. People are beginning to wise up to this scam. The truth is now out there and I am no longer part of a minority. This article basically laid out the course of the whole so-called investment. I thought it was pretty truthful.
But the interesting thing to me was the comment section. I started to scroll through it and I came across a comment from a man called Zahlid. This is what he said
I WORK OR CBI AND BELIEVE ME THEREWILL BE NONE RV OF MY COUNTRIES CURRENCY,WE PLAN IN REDOMINATING OUR NOTES SAME AS TURKEY, IN FACT WE HAVE HAD TURKISH MOF WITH US DIRECTING OUR ACTIONS AND PLANS
I first thought wow what is going on here. I began to read through the rest of the comments when I discovered another post from Zahlid. This time he said,
THE REASON OUR RESERVES ARE GROWING IS DUE TO MISINFORMATION SPREAD THAT WE WILL REVALUE OUR CURRENCY WHEN IN FACT THERE IS ALSO TALK ANY EXCHANGE WILL BE DON INSIDE OF IRAQ ONLY SO OUTSIDE INVESTORS WILL LOSE UNLESS THEY CAN COME TO IRAQ TO EXCHANGE WITHIN A SET TIME DEADLINE,THIS WAS ALWAYS OUR PLAN AND IT WAS USA WHO ENTICED PEOPLE INTO THIS IN FACT THE PTB PLAN HAS WORKED WHERE OUR COUNTRY RESERVES ARE INCREASED TO MOVE FORWARD WITH REBUILDING FOR MY BROTHERS , I DO KNOW THAT CERTAIN COUNTRIES HAVE BEEN LOOKED AFTER FOR THERE HELP AND I FEEL SORRY THAT PEOPLE WILL LOSE MONEY AND FEEL BAD AGAINST MY COUNTRY WHEN THEY LOSE THERE MONEY,THERE IS TALK THAT FEB WILL SEE THIS RD AND ALL OUTSIDE DEALERS WILL NO LONGER SELL IQD OLD AND WILL BE UNABLE TO BUY FROM OUTSIDE INVESTORS BACK. MAY PEACE E WITH YOU ALL SHUKRAN
I thought wow this is what I have been saying for the last 2 years! This is what some of the wiki leaks documents on Iraqi banks revealed to me to.
Then Bagdad invest responded, he said
“Selam Zahlid. I think either the Iraqi embassy in America or the Central Bank of Iraq itself should write a press release once and for all and publish the truth because too many are getting hurt. You and I both know the truth but there are hundreds of thousands of people who think differently. Thanks.”
Bagdad invests also said
“Thanks for posting that. Just checked the IP of the person who posted it and it is coming up as Glasgow, Scotland so I think we can assume it is indeed false in terms of the persons position but the relevance is good but we can assume he does not work for the CBI.”
I believe the site where the article is posted belongs to Bagdad Invests. Zahlid responded by saying
“@BAGHDAD INVEST ,
CORRECT MY BROTHER WITH MY IP ADDRESS , MY FAMILY MOVED TO SCOTLAND WELL BEFORE SADAAM DESTROYED MY COUNTRY, MYSELF AS A FINANCE MINISTER FOR CBI
AND MY WIFE A DOCTOR WHO NOW WORKS FOR NHS SCOTLAND,I HAVE AN ADVISOR
ROLE WITHIN THE CBI AND TRAVEL CONSTANTLY ON BUSINESS WORLDWIDE FOR CBI
SO YOU HAVE WRONGLY DIAGNOSED MY AUTHENTICITY MY FRIEND,ALL THAT GLITTERS
IS NOT GOLD BELIEVE OR NOT MY FACTS ARE TRUE AND COME FROM WELL INSIDE THE CBI ANY MAJOR RV RETAINING OUR 000S WOULD BANKRUPT OUR ECONOMY WITH
THE AMOUNT F DINARS WORLDWIDE DUE TO OVERPRINTING SIMILAR TO THE DOLLAR
I HAVE NOTHING TO LIE ABOUT OR PROVE WATCH AND REMEBER MY WORDS I SPOE BEFORE RD= THERE WILL BE NO MILIONAIRES MADE OUT OF IRAQ CURRENCY REFORM
THIS WILL BE MADE CLEARER OVER THE NEXT MONTHS PRIOR TO ELECTIONS
SHUKRAN”
Bagdad invests responded by saying
“Okay Zahlid. Lets see how it goes over the next few months. Shukran”
That’s good advice but finally here was a man who was saying what I have been saying all along. It did not matter to me if he did work for the CBI this man was validating my theories and he was the only person I have ever read that did so. This meant that I had to leave a comment. So this was my comment.
“I just knew it. I have been saying this for years. Iraq’s reserves are growing because the dinar is being exported. As dinar leaves Iraq it is exchanged for dollars. This is why their reserves have grown. As their reserves grow the bank releases more dinar. It really is about collecting the US dollar isn’t it? This was revealed in wiki leaks documents as well. (which I have) Zahlid would you be kind enough to answer a few questions that I have that have bothered me for the last few years
1. Out of the approximate amount of 31 trillion dinar that is currently outside of banks right now, how much of that is out of country? How much do spectators hold?
2. How far does this go up? In other words did Iraq discover that their reserves were growing as a result of foreigners being scammed by gurus and liars here in America? Or are they a part of the perpetuating myth?
3. Did they delay the redenomination knowing that their reserves were growing because Americans were buying dinar? Was this the reason for the delay?
Let me tell you people are being hurt by this. I spent the last 2 years debunking this and I got some pretty bad stories from people. My only hope is that all the gurus are rounded up and the American government prosecutes them all to the fullest extent of the law!”
Zahlid left one more comment he said
“I can concur that there are plans for legal action as have been on meetings and conference calls with
regards this, I CN TELL YOU CATEGORICALLY AY EXCHANGE WILL HAVE TO BE DONE IN IRAQ
THIS HAS ALWAYS BEEN THE PLAN, EVEN MORE SO NOW WITH THE AMOUNT OF DINAR OUTSIDEOF IRAQ,WE HAVE THE CAPITAL IN RESERVES NOW AND IT HAS BEEN PAID FOR
AND TOO BE HONEST OUTSIDE SPECULATORS ARE NOT OUR WORRY.THEY HAVE BEEN DUPED BY FALSE LIES FROM ALI BABAS AND I DO KNOW THESE PEOPLE WILL BE ADDRESSED WHEN THE TIME COMES, ALL THE DEALERS WILL SOON BE INFORMED TO STOP TRANSACTIONS AND WILL NO LONGER BUY BACK THE OLD IQD, THE NEW IQN
WITH OUR KURDISH LANGUAGE HAS BEEN PRINTED ND IS READY T BE DISTRIBUTED
TH TIMELINE I HAVE HEARD WILL BE FEB/MARCH ,IN IRAQ WE HAVE ALREADY STARTED
THE COUNTDOWN WITHIN CERTAIN AREA WHERE NONE MONIES CAN BE TRANSFERRED
OUT OUR COUNTRY AND ALSO THE BORDER SECURITY HAS BEEN STEPPED UP, BELIEVE
OR NOT I ONLY TELL YOU THIS AS I FEL I HAVE BEEN GIVEN A SECOND CHANCE FROM
PERJURY AND HURT Y CITIZENS OF BRITAIN TO REGAIN MY LIE FOR ME AND FAMILY AND DO NOT LIKE LIES THAT I SEE BEEN TOLD, THERE WILL BE NO RV OR RETURN TO OLD SADAAM DAYS OF OUR MONEY PEOPLES25000 DINAR WIL BE 25 DINAR WHEN RD,TURKEY IS OUR BROTHE WHO IS MAKING UR CURRENCY REFORM SAME AS THERES SO I ASK YOU NOT TO LOSE YOUR MONEY AND IF CAN TAKE BACK WHAT YOU CAN NOW BEFORE YOU HAVE SAND GRAINS
SHUKRAN
ZAHLID”
For some reason I think this guy is legit and if he is correct that means with any luck we will see this thing will come to an end this year. He says the redenomination process will start before the elections. He says people will be prosecuted. Well I guess we will just wait and see. I still question Iraq’s involvement with all this. If you want to read this article and the comments for yourself then click the link below
Welcome to the latest dinar update. As gurus give updates about a potential fictional revalue, I will give updates about an imminent redenomination. I know it has been a while since the last update. I really don’t follow the dinar as close as I use to. Since I have been free from this scam I have been busy doing other things.
As most people know I have another blog that deals with world economics. The Blog is known as BVAWE. I started a new series on the blog called The Real Battle. It deals with the rise of the New World Order. It talks about these people using oil and the banking structure to come to power. While I was working on this new series I came across this.
Suspicious Activity Involving the Iraqi Dinar
“Over the last year, the circumstances of the war in Iraq have created the phenomenon of businesses trading in new Iraqi dinars. Many of these businesses advertise or conduct business over the Internet, and suggest that the Iraqi dinar, much like the Kuwaiti dinar following Operation Desert Storm, will increase in value exponentially following United States military involvement in Iraq. Most investors purchase dinars from websites established particularly for selling dinars or from major auction websites.
FinCEN has been receiving inquiries regarding the legitimacy of websites offering Iraqi dinar sales. While it is not necessarily illegal to buy or sell Iraqi currency, there are a number of risks and compliance concerns for the financial community. For example, Iraqi officials state that it is illegal under Iraqi law to export dinars. Therefore, in addition to questions about the source of the currency, and the potential for investment or securities fraud, businesses offering to sell dinars may also pose the risk of being used to fund terrorism or as a vehicle for money laundering. FinCEN also has a particular interest in these businesses because they may be money services businesses required to comply with the Bank Secrecy Act.
Any United States entity that buys or sells currency, including Iraqi dinars, in amounts of more than $1,000 U.S. to any one person in one day may be a money services business under FinCEN’s regulations at 31 C.F.R. Section 103.11(uu). [Note: there have been questions about the old dinar with Hussein’s picture on it. That dinar ceased to be legal tender around January 15, 2004 and thus ceased to be currency for purposes of the Bank Secrecy Act.]”
I found this part interesting
“Moreover, even if the business is registered with FinCEN, that registration does not guarantee that the business is in compliance with other Bank Secrecy Act requirements or with applicable state law.”
This is excerpted from SAR Activity Review Issue 8, page 41
Years ago when I invested in the dinar I did a search to see if the dinar was a scam. Back then it was hard to find out any information on the currency outside of the dinar forums. Now it seems that there are independent articles all over the internet warning people about this. Well better late than never I guess. Here are a few examples.
“The hype about the investment in Iraqi Dinars has been going around for a while. Sellers explain that as democracy comes to Iraq, the economy will flourish and the value of the Dinar will grow.”
“Going on 10 years, this scam hasn’t turned anyone into a millionaire, or even a thousand-aire. In fact, since the fall of Saddam Hussein’s regime, one note has been worth less than a tenth of a U.S. penny.
Word of warning today: Expect a flare-up in dinar marketing. Sellers often refer to the government of Iraq revaluing its currency to make it appear stronger and more attractive.
Wouldn’t you know, just as the dinar’s value plunges further, Iraq parliament is considering just that.
Last week, Al-Monitor (The Pulse of the Middle East), reported that a member of the Iraqi parliament’s Economic Committee said, “Reforming the management of the Iraqi currency now requires the deletion of three zeros. The Iraqi currency is weak, and the money supply has amounted to multi-trillions because of the existence of these useless zeros. The country will witness a significant increase in oil revenues, financial earnings and high budgets. Thus, we need to print new banknotes, as estimated by the Central Bank.”
This is redenomination language. When they talk about printing new notes because their currency has become weak they are talking about printing a new series of dinar and that is a redenomination. And that is what this scam is all about. It seems to me that these days there are all kinds of scam warnings about the dinar.
Wait a minute…The Iraqi dinar is a scam? Maybe this video will help explain one of the scam aspects.
When I decided to post another dinar update I did a quick search and found this Warning from Washington State about the dinar.
“The Washington State Department of Financial Institutions is warning consumers about potential scams regarding Iraqi Dinar currency exchange services. While foreign exchange scams are not new, the sudden popularity with the Dinar and resulting consumer complaints to our banking partners is concerning.
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”
Even though this warning is from 2011 this is the first time I saw it. So as you can see the Iraqi dealers are the only ones providing liquidity for the currency they are selling. Talk about a conflict of interest. When the Redenomination goes down how many dealers will there be left to provide the liquidity needed to exchange the investment?
Contact Me
I have included a contact form on the home page of this blog. Anything that is put there is kept confidential and will not be posted on this blog without your permission. From time to time I get requests to contact people but keep in mind I am not interested in debating anyone about this investment. My time is limited.
And Then There Is This
There are people who got into this investment because they believe that this fictional revalue is prophetic. They believe it can be found in biblical prophecy. As far as these people are concerned no amount of reason will convince them. Even if you explain the logic of why it won’t happen they won’t believe it because to them it is a matter of faith. I would like to personally address these people now.
1. First you should know that Kim Clement is a false prophet. He has said a number of things that have not come to pass. I observed him when he first came to TBN. I marked the things he said at that time and waited to see if they would come to pass. The time of the prediction came and went and what he predicted did not come true. Here is an extensive list of some of the many wrong predictions this man has made.
Deu 18:20 But the prophet, which shall presume to speak a word in my name, which I have not commanded him to speak, or that shall speak in the name of other gods, even that prophet shall die.
Deu 18:21 And if thou say in thine heart, How shall we know the word which the LORD hath not spoken?
Deu 18:22 When a prophet speaketh in the name of the LORD, if the thing follow not, nor come to pass, that is the thing which the LORD hath not spoken, but the prophet hath spoken it presumptuously: thou shalt not be afraid of him.
Mat 24:24 For there shall arise false Christs, and false prophets, and shall shew great signs and wonders; insomuch that, if it were possible, they shall deceive the very elect.
So do you really want to trust this guy for dinar analysis? When I first invested in the dinar I wondered if the dinar was part of biblical prophecy. I am a long time student of the bible and I began to see if I could make a connection. The more I studied the more I saw that the dinar has nothing to do with biblical prophecy.
The other blog I have which I mentioned earlier is called Biblical Views and World Economics or BVAWE. It contains the prophecy research. It also explains world economics and how it relates to what is on the horizon. Although I will be quick to say it is based on my opinion and independent study. Right now the new series (The Real Battle) is taking all my writing and research time, but if anything interesting happens in the dinar world I will be sure to put it on this blog. If you want to see the other blog click the link below and see what a trillion dollars looks like.
It was recently brought to my attention that Dave Schmidt, the former Washington state senator turned dinar guru, has a photo of a gold vault on his website where he says:
Iraq Currency Watch 