An Interview with John Jagerson

[seetrader1]

An Interview with John Jagerson

Since I first started visiting dinar forums one thing that has bothered me is the fact that most of the "experts" on this investment have a background in something other than finance, economics, or investment analysis. Many of them come from the world of MLM, selling products like Xango or Fuel Legacy. Some are former military personnel. Some work as contractors or in the oil business. One guy was a corporate recruiter. Another worked in the restaurant business. One guy was even a snake breeder. Not exactly what I was looking for.

Well I found one man who has discussed the dinar at length who is indeed qualified to discuss this investment, but some of you probably won't like what he has to say. His name is John Jagerson. He runs a website called Learning Markets, and his videos were included on one of the first posts I did back in September. Recently he commented on my blog which frankly surprised me. I replied and invited him to participate in a brief discussion for my readers which he agreed to do. I may not agree with John on everything, but I respect his credentials and his opinions and welcome his thoughts on investing in the IQD.

Sam: I appreciate your taking the time to answer a few questions for us. Could you give us a brief bio with your credentials?

John: I graduated from Utah Valley University with a degree in Business Administration where I emphasized in accounting and finance. I later completed the PLD at Harvard that has a strong international business focus. I have spent most of my career as an entrepreneur, which led me in two directions that eventually converged to form my current occupation. The first direction was to become involved in private equity (AKA venture and angel capital), which gave me experience in investment and risk analysis. The second was my experience (early in my career) importing products and equipment from Asia. While I was doing that I was frequently hedging currency risk and the currency-trading bug bit me. I haven’t turned back.

In 2003 I left entrepreneurship briefly and went to work with Investools, which was a roll-up of several online companies focused on investor education and information. Investools later acquired the options-brokerage thinkorswim (Barrons’ #1 rated), which was later acquired by TDAmeritrade after I left the company. I was a Vice President at the firm and was responsible for content, training, and client education. Working at thinkorswim Group I had the opportunity to get to know how individual investors work. This gave me a lot of insight into the biggest mistakes they make as well as the commonalities among successful traders.

For a brief period I was also a principle for a small CTA (NFA registered) focusing on forex trading, but left the industry when regulation changes in the U.S. pushed so many domestic traders overseas. I currently still write two option advisory letters that have done well. I ended 2011 profitably, which is “pretty good” in my book even if I didn’t blow the doors off.

I have written three books published by McGraw Hill. Two of these were about the international currency market or “Forex”. The third is on gold investing. I am currently writing a book on the coming (in my opinion) bond market collapse. I regularly write and record videos for online publications including Nasdaq.com, Scottrade, International Stock Exchange (ISE), LearningMarkets.com, Mint (an Intuit company) and Alpari among others.

OK that was not brief and I apologize for that but I thought it would be helpful to make sure that people wondering about the dinar know that I am not just speculating. I have experience in this business and I can show them how to find real information for themselves.

Sam: That's quite all right. Have you reported on other redenominations that were pumped as big profit opportunities?

John: Yes and no. I have reported on RVs and RDs in the past, but the dinar is an unusual situation that is being pumped unlike anything I have seen before. Everyone in the business knows that RVs and RDs are virtually impossible to trade so pumping would have just been seen as nonsense. The IQD RV is being pumped successfully because they are using it to scam non-professionals who don’t know how the currency market works.

I was “introduced” to the dinar RV by a friend who asked me what I thought. I told him RVs don’t work that way and that it sounded like a “rain maker” scam, but he invested anyway. I did a little investigation into how this scam was working and starting writing about it in 2008. I felt like this was a good thing to take a stand on since so many service men and women are being taken advantage of by the scammers.

I have written about other redenominations (Turkey, Mexico, Venezuela, Zimbabwe, Germany, Japan, China, Kuwait, Iraq, and Vietnam) and revaluations (China, Japan & Switzerland). Both redominations and revaluations happen but none of them have or could work like dinar-RV investors think. – I have also written about other investor scams like advance-fee frauds, target date funds, HYIPs, and mail-order bullion dealers.

Sam: I'm sure a lot of my readers are saying "how can you call the dinar a scam? I bought dinar at BOA or Chase". How do you respond?

John: It is legal to exchange currencies with a service bureau or a bank in the U.S. There are still a few that will even exchange the dinar. However, that is not the same as advising that this is a “good investment opportunity.” That is the scam. The currency is just paper issued by the Iraqi government.

Sam: You say the IQD hasn't revalued since 2003, but many investors will tell you that they have doubled their money since they purchased.

John: A real RV is the result of intentional action by the central bank. Most currencies fluctuate in value over time without any interference from the bank. It is definitely possible to have bought the dinar at some point over the last few years and to be in a profitable position right now but that was not the result of an intentional RV. The real question is whether the dinar can continue to appreciate versus the dollar now?

Whenever I hear this I get pretty skeptical though. Where is the proof? There are plenty of folks who can show they bought between 1500 and 1100 to the dollar, which is where the official rate has ranged since the new series was issued, but counting costs and spread that is a far cry from a money-doubler. There was a VERY brief period in 2003 when the dinar was exchanged at over 1900 to the dollar, but I have yet to see anyone prove that they bought during those few months. Keep in mind that these aren’t my numbers. These are from the Central Bank of Iraq. I always tell people to go look it up themselves and make sure they are getting their information from the source rather than a pumper.

Sam: Can you tell us definitively how the Kuwaiti dinar redenomination unfolded?

John: Stage one – Fall 1990

Iraq invades and replaces the Kuwaiti dinar with the Iraqi dinar as the “official” currency. The Kuwaiti government was essentially in exile. However, because of the way currencies were managed in the early 1990’s the official rate for the KWD never changed. The UN condemned the invasion and no one of any consequence recognized the right of Iraq to replace the government and currency of Kuwait. There are many anecdotes floating around that you could have bought the KWD for a fraction of its original value on the black-market for a few weeks during that period but I don’t know of anyone brave enough to come forward and admit (and prove) that they did it.

Stage two – Winter 1991

The U.S. led invasion and liberation of Kuwait was chaotic to say the least for money supply in Kuwait. I have again heard anecdotes of people being able to buy KWD on the black market during this period but the official exchange rate was still the same. The old Kuwaiti government was restored following the withdrawal of Iraqi troops. This is really important => Unlike Iraq, the same government, currency, central bank, money, and civil system was in place before and immediately after the Iraqi invasion.

Stage three – September 1991

The KWD was redenominated with new bills in 1991. This means that the old bills held by the public were exchanged for new bills. Sometimes redenominations are done at a ratio (referred to as “lopping”) but this one was 1:1 straight across. Theoretically it is possible (this is a big “if”) for some investors who had bought KWD on the black market during the occupation to have made a big return but there are no known institutional investors who have admitted engaging in that activity and I suspect that the few people who did it are keeping quiet since war-profiteering is generally an unpopular if not illegal thing to do.

KWD Exchange rates

The KWD has been pegged to a basket of currencies (dominated by the dollar) or the dollar itself since 1975. Since the mid-1980s when the dollar was released to float more freely the KWD has had an exchange rate that has ranged between $2.78 and $3.10. This includes the period of the Iraqi invasion and the U.S. invasion of Iraq in the early 2000s.

The bottom line is that if you had 1,000KWD worth $3,000 before the invasion you still had 1,000 new KWD after 1991 that was still worth about $3,000 assuming you were able to exchange your hard currency. No one profited from the invasion.

Sam: What about the claims that some people made a fortune on the KWD?

John: As I mentioned above I have heard rumors and stories about profits being made by people who were buying KWD for a few weeks on the black market in the fall and winter of 1990, but where is the proof? There is none. In any case, these stories don’t help the hopes for the Iraqi RV because the same money and government existed before and after a 6 month war in Kuwait, which is why it is even theoretically possible to have made some profits. The only thing the Iraqi dinar has in common with the pre-1990 IQD is the name. Everything else has been changed. The government, central bank, and quantity of money supply has been changed since the invasion.

Sam: Did any currency dealers profit from the Kuwaiti dinar?

John: Theoretically it was possible to profit from the KWD if you had purchased it on the black market during the Iraqi invasion. There was a brief window of time that it was possible. However, it’s a lot like saying “oh I knew Apple was going to come back so I bought it at the absolute lowest price and sold it at the highest.” That sounds great but where is the proof? Even if he did its still moot. The KWD was the same thing with the same government backing it before and after the invasion. You can pull the historical exchange rate right from the central bank’s website. The IQD is a different currency, different government backing it, different supply, etc, etc.

Sam: If a dinar guru claims that he profited from the Kuwaiti dinar would you say he's lying? Adam Montana for example made such a claim in a book he wrote.

John: Yes, but can I prove it? No, but I can’t prove he doesn’t have magic beans either. It seems extremely unlikely that he was present in Kuwait and prescient enough to buy the KWD on the street when it was available before the Americans went in. If he did it then it should be easy to prove.

Sam: To your knowledge, what is the most substantial RV in history?

John: In absolute value terms the most significant RV in history was the RV of the Chinese Yuan in 2005 that is still ongoing. The exchange rate has actually moved in favor of the yuan 31%. However, there are slim pickings for this kind of RV. Usually an RV is done to lower your currency’s value. The Bank of Japan does this periodically by budging its exchange rate down by a few percentage points that usually evaporates within a few weeks. The Swiss National Bank did it last year when they pegged to the Euro but the change was just a few percentages then as well.

The IQD has fluctuated but has not been revalued since it was reissued in 2004. The Central Bank of Iraq (CBI) has been raising interest rates to head off inflation which probably helped protect its official peg of 1170 to the U.S. dollar. However last year, inflation started getting away from them and the unofficial exchange rate (as reported by the CBI) is now about 1200 to the dollar.

Sam: Have investors ever managed to make a profit off of a redenomination?

John: Its pretty tough, but it is possible. The problem is usually one of liquidity because it is really difficult to buy and sell most of these currencies that go through a redenomination. If you want to do it, the most reliable way to make money from a redenomination is to short the currency. The vast majority of redenominations lead to a currency that continues to fall. You would have made money shorting the TRY in 2005 or the MXN in 1995, which were both trading actively in the forex at the time. This problem is that this is exactly the opposite of what IQD buyers are waiting for. They believe the IQD will go up after an RD, which has pretty much never happened.

If you are wondering about making money from the actual “redenomination” process then the answer is no. A redenomination does not affect the total value of the currency. If you had 120,000 IQD that are currently worth $100USD (1,200 USD/IQD) and the dinar remonetizes tomorrow by dropping three zeroes to a new exchange rate of 1.2 IQD to the dollar then you are flat. You would have to exchange your 120,000 dinar for 120 new dinar, which are worth $.833333 each or $120 in total. A redenomination results in the same aggregate value. Outside of the costs incurred in the transaction there are no gains or losses.

Sam: Is it possible that the US Treasury will take our dinar and use them for oil credits? This is a common claim made to explain how the RV process will work.

John: I don’t know why they would. The Treasury has FX reserves but not in any amount that would put a dent in oil imports from Iraq in the far future. Besides that, why would spending (injecting more dinar) into the world market drive its value up? Increasing supply drives prices down not up. Secondly – and this is really important - Oil is priced in U.S. dollars and most exporters sterilize their capital flows to prevent becoming dollarized or to head off inflation and some kind of massive reserve of the dinar would make that very difficult. The last thing I always ask when this question comes up is how do they know that the Treasury has some massive dinar reserve? Where did that data come from? It didn’t come from the Treasury. Like most of these rumors and “facts” it was just made up by the scammers.

Sam: Can fractional reserve banking allow investors to cash in $2 trillion or more?

John: Not without creating a significant shift in the value of the U.S. dollar. Money supply is measured in different ways but one of these – M1, which is a measure of liquid dollars and deposits in the economy - is just over $2 Trillion now. So you would basically be doubling the liquid dollars in the market. Can a fractional system absorb that from a practical perspective? No.

Sam: Would you be willing to debate Kaperoni, Space Cowboy, Medic, Breitling ... etc. on this?

John: Yes, in person or in writing. Anytime.

[amal]

Good stuff. Im not surprised by anything in here. Believing in a large dinar rv requires believing in something that hasnt ever happened before. I think most investors after they have been in a while and done some research know that. I still believe. Im not sure I understand the following statement by this guy though.

"A real RV is the result of intentional action by the central bank. Most currencies fluctuate in value over time without any interference from the bank. It is definitely possible to have bought the dinar at some point over the last few years and to be in a profitable position right now but that was not the result of an intentional RV"

If a currency is pegged to something like the dinar is to the dollar and the value is moved over night then how is that not a direct result of something the central bank did? When the dinar moved from 1170 to 1166 last week how was that not a small rv?

[wingit]

I would like to heare more about your last premise about M1. You didn't go into any detail of what the impact of doubling M1 would be other than saying it is not practical.

[DinarDebbie]

http://www.learningmarkets.com/the-iraqi-dinar-scam/

So how much you want for your Dinar?

[redrock]

An Interview with John Jagerson

Since I first started visiting dinar forums one thing that has bothered me is the fact that most of the "experts" on this investment have a background in something other than finance, economics, or investment analysis. Many of them come from the world of MLM, selling products like Xango or Fuel Legacy. Some are former military personnel. Some work as contractors or in the oil business. One guy was a corporate recruiter. Another worked in the restaurant business. One guy was even a snake breeder. Not exactly what I was looking for.

Well I found one man who has discussed the dinar at length who is indeed qualified to discuss this investment, but some of you probably won't like what he has to say. His name is John Jagerson. He runs a website called Learning Markets, and his videos were included on one of the first posts I did back in September. Recently he commented on my blog which frankly surprised me. I replied and invited him to participate in a brief discussion for my readers which he agreed to do. I may not agree with John on everything, but I respect his credentials and his opinions and welcome his thoughts on investing in the IQD.

Sam: I appreciate your taking the time to answer a few questions for us. Could you give us a brief bio with your credentials?

John: I graduated from Utah Valley University with a degree in Business Administration where I emphasized in accounting and finance. I later completed the PLD at Harvard that has a strong international business focus. I have spent most of my career as an entrepreneur, which led me in two directions that eventually converged to form my current occupation. The first direction was to become involved in private equity (AKA venture and angel capital), which gave me experience in investment and risk analysis. The second was my experience (early in my career) importing products and equipment from Asia. While I was doing that I was frequently hedging currency risk and the currency-trading bug bit me. I haven’t turned back.

In 2003 I left entrepreneurship briefly and went to work with Investools, which was a roll-up of several online companies focused on investor education and information. Investools later acquired the options-brokerage thinkorswim (Barrons’ #1 rated), which was later acquired by TDAmeritrade after I left the company. I was a Vice President at the firm and was responsible for content, training, and client education. Working at thinkorswim Group I had the opportunity to get to know how individual investors work. This gave me a lot of insight into the biggest mistakes they make as well as the commonalities among successful traders.

For a brief period I was also a principle for a small CTA (NFA registered) focusing on forex trading, but left the industry when regulation changes in the U.S. pushed so many domestic traders overseas. I currently still write two option advisory letters that have done well. I ended 2011 profitably, which is “pretty good” in my book even if I didn’t blow the doors off.

I have written three books published by McGraw Hill. Two of these were about the international currency market or “Forex”. The third is on gold investing. I am currently writing a book on the coming (in my opinion) bond market collapse. I regularly write and record videos for online publications including Nasdaq.com, Scottrade, International Stock Exchange (ISE), LearningMarkets.com, Mint (an Intuit company) and Alpari among others.

OK that was not brief and I apologize for that but I thought it would be helpful to make sure that people wondering about the dinar know that I am not just speculating. I have experience in this business and I can show them how to find real information for themselves.

Sam: That's quite all right. Have you reported on other redenominations that were pumped as big profit opportunities?

John: Yes and no. I have reported on RVs and RDs in the past, but the dinar is an unusual situation that is being pumped unlike anything I have seen before. Everyone in the business knows that RVs and RDs are virtually impossible to trade so pumping would have just been seen as nonsense. The IQD RV is being pumped successfully because they are using it to scam non-professionals who don’t know how the currency market works.

I was “introduced” to the dinar RV by a friend who asked me what I thought. I told him RVs don’t work that way and that it sounded like a “rain maker” scam, but he invested anyway. I did a little investigation into how this scam was working and starting writing about it in 2008. I felt like this was a good thing to take a stand on since so many service men and women are being taken advantage of by the scammers.

I have written about other redenominations (Turkey, Mexico, Venezuela, Zimbabwe, Germany, Japan, China, Kuwait, Iraq, and Vietnam) and revaluations (China, Japan & Switzerland). Both redominations and revaluations happen but none of them have or could work like dinar-RV investors think. – I have also written about other investor scams like advance-fee frauds, target date funds, HYIPs, and mail-order bullion dealers.

Sam: I'm sure a lot of my readers are saying "how can you call the dinar a scam? I bought dinar at BOA or Chase". How do you respond?

John: It is legal to exchange currencies with a service bureau or a bank in the U.S. There are still a few that will even exchange the dinar. However, that is not the same as advising that this is a “good investment opportunity.” That is the scam. The currency is just paper issued by the Iraqi government.

Sam: You say the IQD hasn't revalued since 2003, but many investors will tell you that they have doubled their money since they purchased.

John: A real RV is the result of intentional action by the central bank. Most currencies fluctuate in value over time without any interference from the bank. It is definitely possible to have bought the dinar at some point over the last few years and to be in a profitable position right now but that was not the result of an intentional RV. The real question is whether the dinar can continue to appreciate versus the dollar now?

Whenever I hear this I get pretty skeptical though. Where is the proof? There are plenty of folks who can show they bought between 1500 and 1100 to the dollar, which is where the official rate has ranged since the new series was issued, but counting costs and spread that is a far cry from a money-doubler. There was a VERY brief period in 2003 when the dinar was exchanged at over 1900 to the dollar, but I have yet to see anyone prove that they bought during those few months. Keep in mind that these aren’t my numbers. These are from the Central Bank of Iraq. I always tell people to go look it up themselves and make sure they are getting their information from the source rather than a pumper.

Sam: Can you tell us definitively how the Kuwaiti dinar redenomination unfolded?

John: Stage one – Fall 1990

Iraq invades and replaces the Kuwaiti dinar with the Iraqi dinar as the “official” currency. The Kuwaiti government was essentially in exile. However, because of the way currencies were managed in the early 1990’s the official rate for the KWD never changed. The UN condemned the invasion and no one of any consequence recognized the right of Iraq to replace the government and currency of Kuwait. There are many anecdotes floating around that you could have bought the KWD for a fraction of its original value on the black-market for a few weeks during that period but I don’t know of anyone brave enough to come forward and admit (and prove) that they did it.

Stage two – Winter 1991

The U.S. led invasion and liberation of Kuwait was chaotic to say the least for money supply in Kuwait. I have again heard anecdotes of people being able to buy KWD on the black market during this period but the official exchange rate was still the same. The old Kuwaiti government was restored following the withdrawal of Iraqi troops. This is really important => Unlike Iraq, the same government, currency, central bank, money, and civil system was in place before and immediately after the Iraqi invasion.

Stage three – September 1991

The KWD was redenominated with new bills in 1991. This means that the old bills held by the public were exchanged for new bills. Sometimes redenominations are done at a ratio (referred to as “lopping”) but this one was 1:1 straight across. Theoretically it is possible (this is a big “if”) for some investors who had bought KWD on the black market during the occupation to have made a big return but there are no known institutional investors who have admitted engaging in that activity and I suspect that the few people who did it are keeping quiet since war-profiteering is generally an unpopular if not illegal thing to do.

KWD Exchange rates

The KWD has been pegged to a basket of currencies (dominated by the dollar) or the dollar itself since 1975. Since the mid-1980s when the dollar was released to float more freely the KWD has had an exchange rate that has ranged between $2.78 and $3.10. This includes the period of the Iraqi invasion and the U.S. invasion of Iraq in the early 2000s.

The bottom line is that if you had 1,000KWD worth $3,000 before the invasion you still had 1,000 new KWD after 1991 that was still worth about $3,000 assuming you were able to exchange your hard currency. No one profited from the invasion.

Sam: What about the claims that some people made a fortune on the KWD?

John: As I mentioned above I have heard rumors and stories about profits being made by people who were buying KWD for a few weeks on the black market in the fall and winter of 1990, but where is the proof? There is none. In any case, these stories don’t help the hopes for the Iraqi RV because the same money and government existed before and after a 6 month war in Kuwait, which is why it is even theoretically possible to have made some profits. The only thing the Iraqi dinar has in common with the pre-1990 IQD is the name. Everything else has been changed. The government, central bank, and quantity of money supply has been changed since the invasion.

Sam: Did any currency dealers profit from the Kuwaiti dinar?

John: Theoretically it was possible to profit from the KWD if you had purchased it on the black market during the Iraqi invasion. There was a brief window of time that it was possible. However, it’s a lot like saying “oh I knew Apple was going to come back so I bought it at the absolute lowest price and sold it at the highest.” That sounds great but where is the proof? Even if he did its still moot. The KWD was the same thing with the same government backing it before and after the invasion. You can pull the historical exchange rate right from the central bank’s website. The IQD is a different currency, different government backing it, different supply, etc, etc.

Sam: If a dinar guru claims that he profited from the Kuwaiti dinar would you say he's lying? Adam Montana for example made such a claim in a book he wrote.

John: Yes, but can I prove it? No, but I can’t prove he doesn’t have magic beans either. It seems extremely unlikely that he was present in Kuwait and prescient enough to buy the KWD on the street when it was available before the Americans went in. If he did it then it should be easy to prove.

Sam: To your knowledge, what is the most substantial RV in history?

John: In absolute value terms the most significant RV in history was the RV of the Chinese Yuan in 2005 that is still ongoing. The exchange rate has actually moved in favor of the yuan 31%. However, there are slim pickings for this kind of RV. Usually an RV is done to lower your currency’s value. The Bank of Japan does this periodically by budging its exchange rate down by a few percentage points that usually evaporates within a few weeks. The Swiss National Bank did it last year when they pegged to the Euro but the change was just a few percentages then as well.

The IQD has fluctuated but has not been revalued since it was reissued in 2004. The Central Bank of Iraq (CBI) has been raising interest rates to head off inflation which probably helped protect its official peg of 1170 to the U.S. dollar. However last year, inflation started getting away from them and the unofficial exchange rate (as reported by the CBI) is now about 1200 to the dollar.

Sam: Have investors ever managed to make a profit off of a redenomination?

John: Its pretty tough, but it is possible. The problem is usually one of liquidity because it is really difficult to buy and sell most of these currencies that go through a redenomination. If you want to do it, the most reliable way to make money from a redenomination is to short the currency. The vast majority of redenominations lead to a currency that continues to fall. You would have made money shorting the TRY in 2005 or the MXN in 1995, which were both trading actively in the forex at the time. This problem is that this is exactly the opposite of what IQD buyers are waiting for. They believe the IQD will go up after an RD, which has pretty much never happened.

If you are wondering about making money from the actual “redenomination” process then the answer is no. A redenomination does not affect the total value of the currency. If you had 120,000 IQD that are currently worth $100USD (1,200 USD/IQD) and the dinar remonetizes tomorrow by dropping three zeroes to a new exchange rate of 1.2 IQD to the dollar then you are flat. You would have to exchange your 120,000 dinar for 120 new dinar, which are worth $.833333 each or $120 in total. A redenomination results in the same aggregate value. Outside of the costs incurred in the transaction there are no gains or losses.

Sam: Is it possible that the US Treasury will take our dinar and use them for oil credits? This is a common claim made to explain how the RV process will work.

John: I don’t know why they would. The Treasury has FX reserves but not in any amount that would put a dent in oil imports from Iraq in the far future. Besides that, why would spending (injecting more dinar) into the world market drive its value up? Increasing supply drives prices down not up. Secondly – and this is really important - Oil is priced in U.S. dollars and most exporters sterilize their capital flows to prevent becoming dollarized or to head off inflation and some kind of massive reserve of the dinar would make that very difficult. The last thing I always ask when this question comes up is how do they know that the Treasury has some massive dinar reserve? Where did that data come from? It didn’t come from the Treasury. Like most of these rumors and “facts” it was just made up by the scammers.

Sam: Can fractional reserve banking allow investors to cash in $2 trillion or more?

John: Not without creating a significant shift in the value of the U.S. dollar. Money supply is measured in different ways but one of these – M1, which is a measure of liquid dollars and deposits in the economy - is just over $2 Trillion now. So you would basically be doubling the liquid dollars in the market. Can a fractional system absorb that from a practical perspective? No.

Sam: Would you be willing to debate Kaperoni, Space Cowboy, Medic, Breitling ... etc. on this?

John: Yes, in person or in writing. Anytime.

I guess we need to get Shabibi on the phone and let him know his plan won't work! It would be interesting to hear a discussion between this gentleman and Scooter or Marcus Curtis or Enoch 8. So, any way, Sam, I suppose he has you convinced now and you either have already or will be liquidating your dinar supply...if you ever invested. And we will probably not hear from you any more unless you are going to hang around to save us from ourselves. Either way, thanks for the post. God bless.

[Drez]

Thanks for bringing this over, not really good news but doesn't really discourage me at all. Everyone has an opinion including me. I'll stay on the path and see were it takes me.

[wingit]

I did a little thinking about it. Doubling M1 would probably cause instant hyper inflation in the economy. Am I right?

[lotsofdinar]

As folks keep saying over and over. Nobody knows the outcome. If Iraq RV's any significant amount, it will be a unique happening, as it has never happened before. So what you are left with is belief and opinion, both of which are really not debatable.

[caz1104]

Like so many others "opinion" piece,nothing more. I respect his but differ in mine. Best to all that strive for the Best.

[fnbplanet]

I guess we need to get Shabibi on the phone and let him know his plan won't work! It would be interesting to hear a discussion between this gentleman and Scooter or Marcus Curtis or Enoch 8. So, any way, Sam, I suppose he has you convinced now and you either have already or will be liquidating your dinar supply...if you ever invested. And we will probably not hear from you any more unless you are going to hang around to save us from ourselves. Either way, thanks for the post. God bless.

Ditto.

[lotsofdinar]

As Paul Simon wrote it:

"I am just a poor boy.

Though my story's seldom told,

I have squandered my resistance

For a pocketful of mumbles,

Such are promises

All lies and jest

Still, a man hears what he wants to hear

And disregards the rest."

[umbertino]

As Paul Simon wrote it:

"I am just a poor boy.

Though my story's seldom told,

I have squandered my resistance

For a pocketful of mumbles,

Such are promises

All lies and jest

Still, a man hears what he wants to hear

And disregards the rest."

[dinarck]

Its amazing how people listen to every word that Frank or Okie or not-so-Breitling say but as soon as as someone with epic credentials in economics and currency trading speaks the truth it is quickly disregarded as "opinion". Its like people will believe anyone other than those who know what they are talking about.

[Carrello]

I guess we need to get Shabibi on the phone and let him know his plan won't work! It would be interesting to hear a discussion between this gentleman and Scooter or Marcus Curtis or Enoch 8. So, any way, Sam, I suppose he has you convinced now and you either have already or will be liquidating your dinar supply...if you ever invested. And we will probably not hear from you any more unless you are going to hang around to save us from ourselves. Either way, thanks for the post. God bless.

I will say, and not that this is what I want to happen, but Enoch did say a few weeks ago that an RD is always possible. But there is a reason the Enoch, Scooter, and Curtis own IQD, and probably tons of it.

Mr. Jagerson's resume is impressive, as impressive as any, and indicates that he could be called an expert oncurrency and the RVs of the world. That's what scares me.

And wouldn't you know that it would be Seetrader to bring over this interview. How appropriate.

Edited January 26, 2012 by Carrello

[FreckledFuzz]

I will say, and not that this is what I want to happen, but Enoch did say a few weeks ago that an RD is always possible. But there is a reason the Enoch, Scooter, and Curtis own IQD, and probably tons of it.

Mr. Jagerson's resume is not here, but it was part of the original post on another site. It is impressive, as impressive as any, and indicates that he could be called an expert oncurrency and the RVs of the world. That's what scares me.

And wouldn't you know that it would be Seetrader to bring over this article. How appropriate. I would say thanks, but I'm not going to. Merchant of Chaos - anybody know the term?

There is a very, very common saying amongst FOREX traders Ms. C.

And I think it applies to this situation.

Past performance is not indicative of future results.

-FWIW

[Darin]

There is a very, very common saying amongst FOREX traders Ms. C.

And I think it applies to this situation.

Past performance is not indicative of future results.

-FWIW

Good way to get burned I am sure on Fx looking at the past...

In this interview, the guy makes it appear as if "NO ONE" made any money from owning KWD during the period of exchange.

That would have to be nearly impossible, but I am in the idea of including the locals.

For example, any local who remained having faith in their currency & even maybe purcahsed more upon street value (pennies on the dollar) was most definately sitting pretty when the banks re-opened and had a new currency to exchange at 1:1.

Any foreigners who held currency and was fortunate to exchange would make profits.

I wonder why this guy doesn't tough on the possibilities of reducing their money supply through other avenues?

I.e., sale of bonds, etc.

Than a great question to ask would be why the CBI allowed so much IQD to be auctioned off and shipped out of country?

Experienced, holding credentials, or anything that makes you appear to be an expert does not mean you know the outcome. The only ones who know the outcome are the ones who are in control and they likely have that plan with the data they have in front of them. Maybe our data doens't match w/ their data which may alter speculative possibilities.

[caz1104]

Its amazing how people listen to every word that Frank or Okie or not-so-Breitling say but as soon as as someone with epic credentials in economics and currency trading speaks the truth it is quickly disregarded as "opinion". Its like people will believe anyone other than those who know what they are talking about.

My OPINION is your post is your OPINION on what people think or believe.IMO thats not wise. Best to all that strive to be the Best. P.S. Go RV (I know Dinarck loves that)

[Darin]

My OPINION is your post is your OPINION on what people think or believe.IMO thats not wise. Best to all that strive to be the Best. P.S. Go RV (I know Dinarck loves that)

It is important to keep an open-mind, have a subjective view, and stay grounded as anything is really possible.

We would be naive to 100% believe one action to occur over another.

Could it R/D (lop)? Yes...

Could it R/V? Yes...

Heck, why not a hybrid scenario? No one seems to speak of that....

Why not remove 1 or 2 zeros and R/V to reach or be on par with the $1?

No one really speaks of that...

The value has risen over time, and will likely continue to do so...

The interview appears to point that this guy thinks no one will make money on the IQD whatsoever... His view is slanted in one direction, and usually why I discredit people...

If you were posting 100% it is going to R/V yaadadada I would discredit you as well. No matter what type of positive, influential, and factual evidence you provide.

[zimi]

I would like to ask John...

1) Will the Dinar at some time be put on the world currency market, in his opinion?

If the Dinar were to ReValue but did not go on the world currency market, then the RV would be useless to us. On the

other hand if the Dinar did NOT revalue but instead was just placed on the World currency market, our worries would

be largely over because once on the world currency market, the Dinar would go up. It might be slower than we would

like but it could not help but go up taking into consideration the interest in the Dinar and the wealth of oil and minerals

that Iraq is sitting on. It is far more important that the dinar goes on the world market than for it to RV.

2) How will Iraq continue doing business with the rest of the world with the cumbersome arrangement they have now?

3) I wonder how John would feel if people holding dinars took them back to the seller for a rebate because of what

he said and then sometime in the next month or year, the RV occurred.

I would sooner risk losing $1200 on a million dinars than to risk losing $3 million dollars if or when an RV happens.

Which would you sooner lose $1200 or $3 million dollars? How would I feel if I woke up one morning and found

out that the RV had happened and I had not purchase any dinar or had sold them back to the seller?

Keep in mind that most people who came from rags to riches took some enormous risks. In most cases, it would

not have been possible for them to become millionaires without taking risks ...risks that were far greater than $1200.

Many of these risk takers lost their shirts over and over again before finally making it big. If the dinar does not RV,

we should be looking for the next opportunity.

Do you need a financial breakthrough? Watch this video >>>

He is not talking about the dinar here so look for your breakthrough from a least expected source. Let go (of where

you think the money will come) and let God. Expect it to happen and start doing in faith what you can to get ready for

this breakthrough.

God bless you all.

Zimi

An Interview with John Jagerson

Since I first started visiting dinar forums one thing that has bothered me is the fact that most of the "experts" on this investment have a background in something other than finance, economics, or investment analysis. Many of them come from the world of MLM, selling products like Xango or Fuel Legacy. Some are former military personnel. Some work as contractors or in the oil business. One guy was a corporate recruiter. Another worked in the restaurant business. One guy was even a snake breeder. Not exactly what I was looking for. <snip>

[dinarck]

My OPINION is your post is your OPINION on what people think or believe.IMO thats not wise. Best to all that strive to be the Best. P.S. Go RV (I know Dinarck loves that)

Well in your OPINION where is he wrong? As far as I can tell he is 100% spot on with everything he is saying. I dont think that facts should be construed with opinion. The fact is this guy knows currency and how it works. Like he said, the largest "RV" in history was around 32%. Now we are supposed to believe that Iraq is going to RV to 100,000%? Doesnt that even phase your go RV outlook at all or do facts even matter? Here is the bottom line and exactly what this guy is telling us. Massive overnight RVs to 1000 times current value do not exsist. The never have and they never will because they are impossible. Massive hyperinflation would be the instant result. All this guy is doing is pointing out that all of this nonsense is made up hype to scam people into buying large amounts of dinar and he is correct. Sure the IQD can continue to rise in value and he says so numerous times but it can never jump 100,000% overnight and that includes some first time in history senerio.

I would really love to see any of these so called gurus attempt to debate this guy. I think it would open up alot of peoples eyes to what is going on when he easily smashes their forum theories to pieces with actual real world facts on how economies and currencies work. Not-so-Breitling would be a great first debate but something tells me that not-so-Breitling would never in a million years dare to debate this man. You will see that I am right when we never see that debate.

[caz1104]

Well in your OPINION where is he wrong? As far as I can tell he is 100% spot on with everything he is saying. I dont think that facts should be construed with opinion. The fact is this guy knows currency and how it works. Like he said, the largest "RV" in history was around 32%. Now we are supposed to believe that Iraq is going to RV to 100,000%? Doesnt that even phase your go RV outlook at all or do facts even matter? Here is the bottom line and exactly what this guy is telling us. Massive overnight RVs to 1000 times current value do not exsist. The never have and they never will because they are impossible. Massive hyperinflation would be the instant result. All this guy is doing is pointing out that all of this nonsense is made up hype to scam people into buying large amounts of dinar and he is correct. Sure the IQD can continue to rise in value and he says so numerous times but it can never jump 100,000% overnight and that includes some first time in history senerio.

I would really love to see any of these so called gurus attempt to debate this guy. I think it would open up alot of peoples eyes to what is going on when he easily smashes their forum theories to pieces with actual real world facts on how economies and currencies work. Not-so-Breitling would be a great first debate but something tells me that not-so-Breitling would never in a million years dare to debate this man. You will see that I am right when we never see that debate.

I never said anything he said was factual or wasn't,as usual you twist things. All i said was like his it is your OPINION.Imo you to enjoy to argue but I refuse to entertaion it. Simple if you agree with an article GREAT, if others don't GREAT.but in my opinion it bothers you when others don't see things your way. Each is entitled to they're own opinions,most here(me included) respect yours when provided in a respectful manner. Best to all that srive to be the BEST

[umbertino]

Quote

Why not remove 1 or 2 zeros and R/V to reach or be on par with the $1?

End Quote

It would be great if they'd remove only one or two zeros and not all three... I don't know if it's realistic, though....But I'd love that.

[caz1104]

It is important to keep an open-mind, have a subjective view, and stay grounded as anything is really possible.

We would be naive to 100% believe one action to occur over another.

Could it R/D (lop)? Yes...

Could it R/V? Yes...

Heck, why not a hybrid scenario? No one seems to speak of that....

Why not remove 1 or 2 zeros and R/V to reach or be on par with the $1?

No one really speaks of that...

The value has risen over time, and will likely continue to do so...

The interview appears to point that this guy thinks no one will make money on the IQD whatsoever... His view is slanted in one direction, and usually why I discredit people...

If you were posting 100% it is going to R/V yaadadada I would discredit you as well. No matter what type of positive, influential, and factual evidence you provide.

Darin,I respect you and the way you present your opinions/arguments in a respectful manner. Imo people should be able to believe what they choose to believe without being berated. I respect all's opinion. Best to all that strive to be the BEST>

[ronbo62]

Its amazing how people listen to every word that Frank or Okie or not-so-Breitling say but as soon as as someone with epic credentials in economics and currency trading speaks the truth it is quickly disregarded as "opinion". Its like people will believe anyone other than those who know what they are talking about.

You got a plus from me on that one.

http://www.learningmarkets.com/the-iraqi-dinar-scam/

So how much you want for your Dinar?

I want 1000 per million. I have 10 million for sale. I have bought from Gid Associates. I will even fly to meet you. just send me a note.

[armondtoth]

While I tend to agree with most of what John has to say, there is one big difference. The countries he has mentioned all have established GDP's except Zimbabwe which basically has no GDP so you really can't RV a currency with no GDP to back it up. Now lets talk about Iraq, Iraq has been under sanctions since the first gulf war and ruled by a dictator so Iraq's GDP has never fully been known until now. Iraq is still under international sanctions so they basically still have a limited GDP since they are not allowed to trade. Once the sanctions are removed the GDP of Iraq will increase dramatically raising the value of their currency. With that said I agree with John that you are not going to make 100,000% profit but I believe it could be far greater than that of China. JMO