Trinity's Take: Debunking the lie of privileged exchange

[TrinityeXchange]

so who hasn't read time and time again information from gurus of some ghost or parallel foreign currency exchange market where elites, privileged, or wealthy folk are being allowed to exchange their dinar and make millions (if not billions) while we sit and wait for a publicly announced revalued exchange rate?  well, i responded to this in another thread and was encouraged by djgabrielie to port my response into a new thread.  perhaps it is a good idea so please read my response below.  the hope is that whenever anyone reads about groups of people exchanging their dinar at some revalued rate without everyone being able to participate, you will have bonafide fact filled officially supported ammunition to debunk those lies.  be blessed my friends.

 

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IMF Article VIII (8) is about what?

 

i encourage anyone ignorant (i do not mean the term in a condescending way...i was once ignorant as well on the subject of Article8) of this topic to go to this link and scroll down to the section on article 8 and read it....it is very short.  here i will even provide an excerpt for you.  keep in mind that article 8 operates clearly as it is titled "Article VIII: General Obligations of Members".  in other words every member of the Fund are beholden to these enumerated obligations.  right there in section 3 it tells all members that if they are to maintain membership with the Fund, they are to avoid discriminatory currency practices and neither can ANY of its Article 5 Section 1 entities participate in these practices.  read for yourself:

 

Section 3.  Avoidance of discriminatory currency practices

No member shall engage in, or permit any of its fiscal agencies referred to in Article V, Section 1 to engage in, any discriminatory currency arrangements or multiple currency practices, whether within or outside margins under Article IV or prescribed by or under Schedule C, except as authorized under this Agreement or approved by the Fund. If such arrangements and practices are engaged in at the date when this Agreement enters into force, the member concerned shall consult with the Fund as to their progressive removal unless they are maintained or imposed under Article XIV, Section 2, in which case the provisions of Section 3 of that Article shall apply.

 

so who are the Article 5 Sec1 entities?  it's all there in black and white:

 

Section 1.  Agencies dealing with the Fund

Each member shall deal with the Fund only through its Treasury, central bank, stabilization fund, or other similar fiscal agency, and the Fund shall deal only with or through the same agencies.

 

well since we have established the rules that IMF members are obligated to, the final question is "Is Iraq a member of the IMF?"  this is easy to answer as well and not through conjecture but through official documentation.  please click the link.  

 

with all that established, now let's reconsider a guru's attestation that for years iraq has been conducting or a participating party to ghost currency markets with the intent to operate discriminatory currency practices.  why would iraq jeopardize their charter with the IMF after working so hard to align their financial operations with IMF and Worldbank expectations???  all for the sake of 2% of some elite group.  really?!! 

 

keep believing whatever it is that you want to believe but know that your friend TrinityExchange took time to help make this thing as transparent and easy to follow as possible.  remember though that most of these gurus revert to conspiratorial conversations to explain away their ignorance.  it is human nature, but we must be careful that we conduct our own due diligence so that their ignorance does not become our gospel.

[SnowGlobe7]

I love you Trinity!!!

 

[davis411]

but but but that is not what tnt tony promised, ahhhhh dang again

 

thanks for the post trinity

[caz1104]

Greed & common sense sometimes don't go hand & hand

[gymrat76541]

I got a friend who months ago swore that his VIP group (with millions of dollars in dinar) collected all their dinar, and drove it via armored car to Reno for the privileged early cash in at the privileged high rate ($10 to 1)! They were supposed to have worked out a deal with the US Treasury for this event!

 

He is still waiting! LOL 

 

I am thinking that whoever is in charge of this group has flown the coop with all the dinar! I can not imagine handing over my dinar to someone with their promise to cash me in & pay me later!

 

He says he has faith that they would not do that! Ha Ha Ha

 

He is still waiting!

[Bunk]

 Guru's ??? They try and sell Hopium,(sometimes at a profit).  ... DaBunk...

[DoD]

TX, I held you to little higher standard than that but to answer your question, NO I haven't time an time again read all the trash these people post. After one reading of BS from one of these people I never waste another minute on their foolishness. You must be pretty bored to reply to any of these morons. Your preaching to the choir for the most people here on DV... I hope so anyway... lol

[SgtFuryUSCZ]

***///

 

Thanks for the Fresh Air up in here, TRINITYX !   

[boosterbglee]

Thanks Trinity!  Appreciate the time you took for clarification! 

[Wiljor]

Always enjoy your posts TX, thanks a million.

[millionaire in training]

I got a friend who months ago swore that his VIP group (with millions of dollars in dinar) collected all their dinar, and drove it via armored car to Reno for the privileged early cash in at the privileged high rate ($10 to 1)! They were supposed to have worked out a deal with the US Treasury for this event!

 

He is still waiting! LOL 

 

I am thinking that whoever is in charge of this group has flown the coop with all the dinar! I can not imagine handing over my dinar to someone with their promise to cash me in & pay me later!

 

He says he has faith that they would not do that! Ha Ha Ha

 

He is still waiting!

Wow that just terrible.....    

 

 

 

Thanks Trinity for always taking the time to share your knowledge with the rest of us..........Very much appreciated    

[Laid Back]

Thanks TrinityeXchange for the research and for taking the time to explain it to us.!

[skeetdog]

Thanks TX...Ignorance is Blitz...I appreciate you educating me in your forte'...As always, I do hold you in the highest regards....

[sandfly]

THANKS

[umbertino]

Grazie Trinity... Great informative post. It's appreciated

[ChuckFinley]

Thanks TX. Helps to get the right answer, so people do not get caught up in the BS.

[Freedomwish]

Keep on preaching Trinity, many thanks indeed!! 

[Willowmena]

Thank you Trinity!

[Benjamin NutnYahoo]

IF and that's a BIG IF, these people were paid as Gurus say, then I say its time we blow the lid off this whole damn mess. Dinar or no dinar I would just as well see a big international investigation on corruption and have big known politicians being escorted away in handcuffs. I pay taxes too so why are these people privileged or better than anyone else? I would just as well call BS now then to string it out any longer with day after day week after week year after year lies.