ICW Podcast- Dinar Corp part 2

podcast 7Welcome to another podcast From Iraq Currency Watch. In this episode, we will cover part 2 of our discussion that we had on July 16th regarding Dinar Corp and the guilty plea. We also cover an experiment you can do while you listen to this Podcast. You will need a computer with the browser of your choice. You will also need  Microsoft Office or Open Office. Download Open Office from the link below. It is a free program and it can be used in place of Microsoft Office.

https://www.openoffice.org/

As we sat down to talk about recent events over 90 minutes flew by. So instead of taking the whole conversation and putting it into a really long podcast I decided to split it up into  two parts. Each part will provide incredible insight to the dinar community. Those who are still in this investment should follow along with the experiment. So if you are still invested in this thing then tighten your seatbelt because things are about to get really bumpy. Just click on the play button and enjoy the ride.

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.

Recorded on July 16th, 2016

Connecting The Dots

Connecting the Dots (7/26/12)

Connecting the Dots II (9/9/12)

https://iraqcurrencywatch.com/sams-misc-files-bggpoppy/ (March 14, 2013 – Ivy Johnson and Dinar Corp owner (now indicted) Husam “Sam” Tayeh

The Indictment and Guilty Plea

http://www.cftc.gov/PressRoom/PressReleases/pr7206-15

https://www.justice.gov/usao-mdal/pr/illinois-man-pleads-guilty-wire-fraud-connection-sales-iraqi-currency

http://www.wmcactionnews5.com/story/32425959/illinois-man-pleads-guilty-to-wire-fraud-in-al

Defending The Faith

https://www.amazon.com/Defending-Faith-Word-Apologetics-ebook/dp/B00ULQEOJ6

The Truth About The Global Currency Reset

https://www.amazon.com/Truth-About-Coming-Global-Currency-ebook/dp/B00RYIY21Y

Economics BVAWE

https://bvawe.wordpress.com/economics-explained/

https://bvawe.wordpress.com/monitary-history/

Free Guitar Lessons

http://www.marcuscurtismusic.com/free-guitar-lessons/

Jew and Greek

http://jewandgreek.com/

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

Disclaimer

podcast 4The 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. 

This Podcast was recorded on February 18th 2016

There NEVER was a Kuwaiti Revalue

That’s the truth! There NEVER was a Kuwaiti revalue. In my last post I went into detail as to why. This was a response to an article I read on Mr. IQD’s site. I finally got a response from Mr. IQD 2 days later after I commented on his site. I just want to make some corrections in his assumptions about my motives. I am posting from his response here in this article because he has banned me from his site.

http://mriqd.com/2014/06/30/eureka-ny-times-article-confirms-kuwaits-1991-iqd-rv/

Mr. IQD “Marcus – thanks for your post – but I have decided to not approve it. I do believe that the Iraqi Dinar will eventually increase significantly in value.”

Just for the record I don’t fault you for believing the pipe dream about the Iraqi dinar revalue. You have every right to believe whatever you want.

Mr. IQD Also, I’m deleting your post because I don’t appreciate the scathing remarks you made about me and my website on another blog.

Scathing remarks? What scathing remarks?! You obviously don’t know me very well because you really have no idea how scathing my remarks can actually be. This is what I actually said.

“Now this comment is gone. For some reason it vanished. So allow me to elaborate a little more. I bought Iraqi dinar based on a lot of lies that I believed.”

Notice that I am addressing the fact that there was never a Kuwaiti Revalue not that the comment did not post. You call that scathing?

MR IQD “YOUR STATEMENT THAT YOUR POST SUDDENLY ‘VANISHED’ AFTER YOU WROTE THEM IS INCORRECT AND A FLAT-OUT LIE!!!

All comments on MrIQD.com are ALWAYS “Held for Moderation” by everyone who posts on my site.”

When I posted the comment it was listed in the comment section after I sent it. I read through the whole comment after I sent it off and it was posted as an approved comment. I then refreshed the page that your article was on and my comment was still there. I did not know if you held comments for moderation but there was no “this comment is held for moderation” notice that typically appears when comments are indeed held for moderation.

Please understand I am not calling you a liar. If anything I thought it was a system glitch. The reason for my post was not to address the missing comment. It was to address the things you wrote about. There were gross misinterpretations in your post about the New York Times article. This was not an attempt to straighten out your thinking or your belief system.

When you provided wrong information that said there was a Kuwaiti Revalue I knew that would come up in the search engine. A person who knows nothing about the dinar may do a search and find your post. A person with no currency background may very well believe your post. That same person may purchase dinar based on a total BULL-CRAP belief in a Kuwaiti Revalue. I know this was the number one selling point with me. After I found out the truth I was upset with this lie. So this is a pet peeve to say the least. I was writing that post to would be dinar investors to serve as a warning and nothing more. It was not directed towards you and it was definitely not scathing.

Mr. IQD Therefore, your comments never posted in the first place, to then “vanish” later as you said.

Fair enough. Like I said maybe it was a system glitch of some sort. I don’t know why your article page showed my comment as posted. Maybe it was some bug in the system software. Not really sure.

Mr IQD I have approved your comments many times in the past, and they are still up for anyone to read – but now you will no longer be approved for ANY COMMENT you make on my site.

This is true you have approved my comments in the past. And you even disagreed with some of the things I wrote. Since I cannot reply directly on your site I decided to speak to you through this post. I know your reading this. I just want to thank you for your loyal support!

Mr. IQD What you did by blogging your immature hate comments about me and my site shows the Dinar Community that you are more like a spoiled child who always insists on getting his way!

Well, little child – you won’t get your way here anymore by throwing temper-tantrums!

Immature hate comments? Do you mean like most of your posts about Gurus? This coming from a guy who posts rants on a regular basis. You should notice that I did not resort to calling you names as you have now just done. I find that people tend to start name calling and leaving civil debate behind when they cannot address the facts. There were no hate comments in my post and for the record I don’t hate you.

I read your site because of the way you called out Tony TNT and other Gurus. I knew you still believed in this scam of an investment. But I always believed you were at least fair and sincere.

OH NO! what ever shall I do with all my free time? Mr. IQD won’t let me comment on his site anymore. Life is just not worth living anymore….No one likes being the one that tells little kids that there is no such thing as Santa Clause! This time it really cost me. What ever shall I do? Excuse my sarcasm.

OK let us get real. Your belief in the revalue of the Iraqi dinar is based on crappy speculation which comes from reading between the lines and putting meaning in news articles that is not even there. Banning me instead of discussing the facts put you on the same level of all the other Gurus you tend to criticize. This looks like hypocrisy to me. The only real ratings you got on your site was due to the fact that you went after the extreme gurus that were lying through their teeth. There is no doubt in my mind that you are sincere, but if you think you will ever make any money from this worthless paper then you are sincerely wrong and sadly mistaken.

I know that in your case it is ok if you lost everything you invested. You won’t feel the same pain that a lot of people feel because they over leveraged and sold everything they have to buy dinar. The reason people do this is because they hear Bull-Crap stories like the Kuwaiti Revalue hype and they begin to look at this investment as a sure thing. I don’t hate you. I never did. I feel sorry for you.

I will tell you what I am going to do. I will leave this open and I will not ban you as you have done me. If you feel like you want to post a comment and express the reason for your beliefs feel free to do so here. Your comments will not go into moderation. They will be posted right away. MR. IQD I believe we can have a civil discussion. The ball is now in your court!

 

 

The Kuwaiti Dinar NEVER Revalued!

Earlier today I received an email from Baghdad Invest. He left a link to an article written by Mr. IQD. After reading Mr. IQDs article I Just had to leave a comment. I came back later in the day only to find that the comment had vanished. It is missing! I don’t know what happened but I now feel a need to respond to this in an effort to set the record straight.

Mr. IQD posted an old article he found through a person who goes by the name “MyDigitalDr” Mr. IQD makes the claim that this article validates and confirms that Kuwait did indeed revalue their currency. The link to the article is found here.

http://www.nytimes.com/1991/03/25/world/after-the-war-no-electricity-but-kuwait-reopens-its-banks.html

Here are is a small part that was quoted by Mr. IQD

All other old dinars can be exchanged for new ones on a one-to-one rate until May 7, when the old dinars become invalid. The new official exchange rate is 3.47 American dollars for one new Kuwaiti dinar.

Mr. IQD goes on to say the following.

Now you can know with CERTAINTY that Kuwait did in fact “RV” their Currency for 3.47 KWD to $1.00 USD – and friends I’ve been searching for this fact based article for years, and poof, out of the blue, “MyDigitalDr” on LJ’s Board found it and posted it.  So, thanks to you, whoever you are.  Also, thanks to the NY Times for including it in their Archives – that is really awesome!

To those out there who claim that it is just not “possible” for Iraq’s Central Bank to “RV” the IQD because it has “never been done before” – THEN TELL THEM TO READ THIS NEW YORK TIMES ARTICLE, AND SEE HOW THEY RESPOND!!!…

http://mriqd.com/2014/06/30/eureka-ny-times-article-confirms-kuwaits-1991-iqd-rv/

Well I left a response in the form of a comment and it was rather long. I made every effort to be polite. I came back later and found that my comment was no longer there. So I will now include my original comment

The Kuwait RV was one of the reasons I invested in the dinar in the first place. It was articles like this that caused me to have confidence in my investment. On the surface this does look like an RV. But the fact remains that Kuwait never revalued their currency. Kuwait redenominated their currency. What is an RV? It is a policy decision from the central bank to change the value of its currency. It can only happen to pegged currencies. This is because the market determines the value for all those currencies that float. This is the standard definition of an RV.

The Kuwaiti Central Bank NEVER adjusted the rate of the dinar. The rate plummeted when Saddam invaded the country and took over the central bank. Everyone was instructed to trade the Kuwait dinar for Iraqi dinar in October of that same year. Speculation drove the price down. Once Iraq was kicked out of Kuwait it took 7 months to get the country up and running again. They had to put out fires because the oil wells were set ablaze. The value of the Kuwaiti dinar was reestablished after Iraq left. The Kuwaiti central bank redenominated the currency because Saddam left with a lot of Kuwaiti dinar. But in the exchange there was no change in value.!

Even Wikipedia acknowledges that this was a redenomination and not a revalue. This scenario is a lot different then what gurus say is going to happen to the dinar. The claim is the dinar will revalue which is due to a policy decision. That is not what happened in Kuwait. The Kuwaiti dinars change in value was due to speculation in the currency itself. It is nothing the central bank controlled. When the country was invaded the value fell because no one new Kuwait’s future. When Kuwait recovered the value came back. The central bank had nothing to do with the change in value! It was perception of a fiat currency and the fact that people lost faith in the Kuwaiti dinar that changed its value.

So there was never a Kuwaiti revalue! And given the very definition of revalue it has never happened before on the scale of what people expect from the dinar. There has never been a revalue over 50 percent.

We need to also consider that Iraq has over 34 trillion dinar in circulation. The dinar is backed by U.S. dollars. They don’t have enough dollars in their reserves to back any kind of significant revalue. Given the fact that there is only around 12 trillion U.S. dollars in America’s M2 money supply it is highly unlikely that Iraq will ever get enough reserves to revalue to any significant level

At least 28 trillion of the Iraqi dinar in circulation today is outside of Iraq’s border. When dinar is exported it is exchanged for US dollars. That money goes straight into their reserves. I agree that Iraq will take the path of Kuwait. They will redenominate their currency. When they do this they will not honor the currency outside of their border and they will cite their currency laws as the reason. Then they get to keep all of that reserve that was collected over the years due to the export of their currency.

Now this comment is gone. For some reason It vanished. So allow me to elaborate a little more. I bought Iraqi dinar based on a lot of lies that I believed. I fell for it hook line and sinker and at the time I knew nothing about how currencies actually worked. I spent 4 years researching economics after I purchased dinar.

Two years after my purchase I am researching economics and I discovered that there was never a Kuwaiti Revalue. In fact I began to research the other lies I was told only to find out that nothing that I was told was even true! That is when I decided to sell my dinar and I started posting the truth about this fraudulent so-called investment on my blog. I spent about two years posting the facts instead of make believe wishful thinking. So now let’s go a little deeper.

The paragraph in question is this one

All other old dinars can be exchanged for new ones on a one-to-one rate until May 7, when the old dinars become invalid. The new official exchange rate is 3.47 American dollars for one new Kuwaiti dinar.

Notice that they are changing out an old currency for a new currency. This is a redenomination it is not a revalue. Revalues are slight adjustments in the value of currency and they only happen to pegged currencies to combat inflation. Now notice these two paragraphs from the New York Times article.

The Central Bank is canceling the value of Kuwaiti dinars that were seized from the Central Bank and put into circulation by the Iraqis. The invalid serial numbers were posted today in front of all banks in the city.

All other old dinars can be exchanged for new ones on a one-to-one rate until May 7, when the old dinars become invalid. The new official exchange rate is 3.47 American dollars for one new Kuwaiti dinar.

So all the dinar was exchanged with no change in value! One old Kuwaiti dinar was equal to one new Kuwaiti dinar! Wikipedia says,

The third series was issued on 20 February 1980, after the accession to the throne of Emir Jaber al-Ahmad al-Jaber al-Sabah, at that time in denominations of 1⁄4, 1⁄2, 1, 5 and 10 dinar. A 20 dinar banknote was introduced on 9 February 1986. As a result of the state of emergency after Iraq’s invasion of Kuwait, this series was ruled invalid with effect from 30 September 1991. Significant quantities of these notes were stolen by Iraqi forces and some have appeared on the international numismatic market.

http://en.wikipedia.org/wiki/Kuwaiti_dinar

So the fourth series was introduced with no change in value! The same denominations were issued in a new series. This is because Saddam had stolen a lot of Kuwaiti dinar. That was the reason for the redenomination. So let’s recap the actual events

  • 1. Saddam’s forces invade Kuwait and they over run the country.
  • 2. While some people were captured a lot of people flee taking with them as much money as possible (Kuwaiti dinar)
  • 3. Because Saddam’s forces occupy Kuwait the value of their currency begins to fall. Those outside Kuwait exchange dinar for a lower rate.
  • 4, In October of that same year Saddam makes the Kuwaiti dinar illegal and he orders that all Kuwaiti dinar must be exchanged for Iraqi dinar. He pegs the Kuwaiti dinar to the Iraqi dinar. As a result the Kuwaiti dinar which is still in circulation falls to its lowest level.
  • 5. American forces liberate Kuwait. When Saddam’s forces leave they take a lot of Kuwaiti dinar with them. This dinar was stolen from the Kuwaiti Central bank.
  • 6. The Kuwaiti government is put back in power and the Kuwaiti dinar is restored to its original price before the central bank was shut down because of Iraqi troops.
  • 7. There was a redenomination for the sole purpose of invalidating the entire dinar supply that was stolen from Kuwait. The important point is when the redenomination occurred there was no change in value. The old dinar was worth just as much as the new dinar. Here are two more articles to go with the New York Times Article.

http://articles.latimes.com/1990-09-25/news/mn-1116_1_kuwaiti-dinar

http://articles.latimes.com/1991-03-24/news/mn-1395_1_kuwaiti-banks

This is a lot different then what people are claiming the Iraqi dinar is going to do! Gurus claim that a policy decision made by the central bank will raise the value of the over 70 trillion dinar anywhere from 100,000 to 400,000 percent. And this has never happened before! This is not what happened in Kuwait! It will not happen for obvious reasons. First the amount of hyperinflation that will come from a move like this will destroy the currency. Second nations want to have the lowest currency because it helps them with exports which strengthens their economy and provides jobs.

So if this post came up during a Google search and you friends are trying to tell you to buy dinar or you are new to the dinar world, I am providing this warning for your benefit. Run away from this so-called investment! There is nothing but hype and rumor that is repeated over and over again just to sell this worthless paper.

If you still believe the dinar will revalue after reading the articles I posted or watching events like ISIS unfold in Iraq then for one last time I appeal to your common sense. It is time to set aside all the lies and seek out the truth. Wishful thinking is not going to make you rich. Denying facts won’t help you get the things in life you want. Pipe dreams filled with hype have no chance of coming true. It is high time to face reality and set aside the foolish notion that over 70 trillion dinar is magically going to be worth anywhere from 70 trillion to 280 trillion U.S. dollars. I know what I am saying is not popular and it is not what dinar investors want to hear. But God as my witness, I am speaking the truth! ultimately it is the truth that will set you free!