You Can't Fix Stupid: The Iraqi Dinar Scam Lives

[Slaydadea]

I don't think I have lost near as much money on this investment as I did on General Motors or Colonial Bank, both of which a "Financial Planner" advised me to buy.

Agreed, GM left me with a reda$$. I manged to recover, then some with AIG. I feel very safe with the Dinar. Unless the entire global monetary system crumbles, our investment does have huge potential. Wait in the weeds.

[R Veyron]

So Okie got started out selling magic beans...well that would explain allot....

[allinxpress]

Its not the currency itself that is a scam.....its the promise of untold riches because there is an imminent RV ahead......

He is right about one thing, people will throw all logic out the window to defend a belief and to keep the.denial that they might have been scammed......

If the US govt is charging people with fraud for misleading people about a RV because Iraq is planning on RD, I would think it might have some merit to it......unfortunately

It is quite possible we have all been taken for a ride.....

Ok, a couple of things. For someone that doesnt seem to believe in this investment, you sure have a lot of time to post 6,525 times. Ive read some of your dribble.. and as always, u never back up anything u say with facts.

Heres a fun fact for you... Iraq is telling us what they are going to do. THEY are the ones saying they are going to drop the artifical program rate. THEY are they ones putting out articles saying they have been drawing in the large notes, passing investment and banking laws to strengthen thier economy. THE head of the banking and finance ministry said the Iraqi Dinar would soon return to the exchange rate it was prior to 1980. THEY just passed the largest budget in the history of thier country.

 

As I have studied this investment over the past couple of years, this one thing has remained constant: The naysayers or peope that dont believe in this can never provide facts to back up why it wont happen, or why in thier opinion the rate will not increase overnight. All they say is.. it wont happen. So then I ask.. OK... what do you think will happen with the 4th largest crude oil reserve in the world, and the current #2 oil exporter in the world. Heres the answer they give:  I dunno, but not what u think is going to happen.   OK.. then WHAT WILL?     Again.. they say I dunno.

 

Sometimes I bombard them with more factual evidence, like History, or the fact that Iraq has 68 BILLION in cash reserves, on top of the 29.5 tons of gold they hold in those reserves, and I can recite more fats but then I stop and say... Why. Why waste my time? The reason I have chosen to take the time out today is simple... I have visited a number of Dinar sites, and this site has the most negativity out of all of them, and to be honest, its because of members like yourself. I dont know if you get a kick out of being the way you are, but what is relevant is that your argument is based on your opinion... not any facts.

 

Does anyone REALLY think that a country whose currency history was Always at least 2.80-3.71 to 1 usd, and who is producing over 3 mil barrels of oil per day, making about 180 billion a year in just oil alone... will continue to have a currency whose value is 1/10 of a penny?? 

 

Money talks in this world. its all about the $$$. Which makes me very happy to have learned about this investment. Take care!

[sandstorm]

Franklin is considered to be one of the greatest American minds and he personified the American dream. A leading American statesman, inventor, philanthropist, publisher, revolutionary, and thinker, Benjamin Franklin was truly the Enlightened American. He did much more than spit out an occasional one liner. 

 

Obama has some good one liners as well : 

 

“The problem is that I’m the president of the United States, I’m not the emperor of the United States."

"We don't have a spending problem."

‘I don’t believe people should be able to own guns’

 

i know and your correct. the answer is always common sense. i just dont see why we have to quote reagan to be able to find an answer. just a little thing that gets under my skin. i just hate when people dont get to the point and stand firm. sometimes like they have to convince themselves reagan would do it...then its all right. i prefer straight talk. say what you mean and mean what you say. Use common sense and stand on convictions. id really care less what someone said. a hundred years ago. thats jmo

Ok, a couple of things. For someone that doesnt seem to believe in this investment, you sure have a lot of time to post 6,525 times. Ive read some of your dribble.. and as always, u never back up anything u say with facts.

Heres a fun fact for you... Iraq is telling us what they are going to do. THEY are the ones saying they are going to drop the artifical program rate. THEY are they ones putting out articles saying they have been drawing in the large notes, passing investment and banking laws to strengthen thier economy. THE head of the banking and finance ministry said the Iraqi Dinar would soon return to the exchange rate it was prior to 1980. THEY just passed the largest budget in the history of thier country.

 

As I have studied this investment over the past couple of years, this one thing has remained constant: The naysayers or peope that dont believe in this can never provide facts to back up why it wont happen, or why in thier opinion the rate will not increase overnight. All they say is.. it wont happen. So then I ask.. OK... what do you think will happen with the 4th largest crude oil reserve in the world, and the current #2 oil exporter in the world. Heres the answer they give:  I dunno, but not what u think is going to happen.   OK.. then WHAT WILL?     Again.. they say I dunno.

 

Sometimes I bombard them with more factual evidence, like History, or the fact that Iraq has 68 BILLION in cash reserves, on top of the 29.5 tons of gold they hold in those reserves, and I can recite more fats but then I stop and say... Why. Why waste my time? The reason I have chosen to take the time out today is simple... I have visited a number of Dinar sites, and this site has the most negativity out of all of them, and to be honest, its because of members like yourself. I dont know if you get a kick out of being the way you are, but what is relevant is that your argument is based on your opinion... not any facts.

 

Does anyone REALLY think that a country whose currency history was Always at least 2.80-3.71 to 1 usd, and who is producing over 3 mil barrels of oil per day, making about 180 billion a year in just oil alone... will continue to have a currency whose value is 1/10 of a penny?? 

 

Money talks in this world. its all about the $$$. Which makes me very happy to have learned about this investment. Take care!

wo...wo nelly. slow your roll. if this goes belly up.......we cant say we werent warned. federal indictments and state government warnings.....do what you will with it. this is high risk speculation with no guarantees. if you think the cbi has told you........then you can believe that all day.

I could give plenty of evidence of another outcome.....but i will not. i have been down that road many times. once i present a glimpse of a different outcome.....you will turn angry....question why im here....try to minimize the possibility. so. i dont care to explain it out...to someone whose already in a defensive mood.

keep calling all the professionals in your phone book...evidently they have there reasons.

best of luck to you.

[allinxpress]

Fine, i consider myself warned.

 

I highly doubt W signed exe order 13303 allowing us to buy the IQD when basically no other country could....  just to *** with us... yea.. that makes perfect sense.

 

And yup.. call me KOOKY for listening to the CBI, the Head of the Bank and Finance Ministry, the IMF, the World Bank, the UN and the WTO...   besides the fact that the head of our own CIA said that the resources of Iraq will eventually pay for the war.

 

,, they must all be crazy!!   lmao.

[Bumper64]

Also, keep in mind that every time someone clicks on his link and goes to his site HE GET'S PAID!!!  

[sandstorm]

Fine, i consider myself warned.

 

I highly doubt W signed exe order 13303 allowing us to buy the IQD when basically no other country could....  just to *** with us... yea.. that makes perfect sense.

 

And yup.. call me KOOKY for listening to the CBI, the Head of the Bank and Finance Ministry, the IMF, the World Bank, the UN and the WTO...   besides the fact that the head of our own CIA said that the resources of Iraq will eventually pay for the war.

 

,, they must all be crazy!!   lmao.

stand by your beliefs....im not trying to convince you otherwise. but....if you want to talk macroeconomic central bank fundamentalswe have to accept the laws and theories of economics as we analyze the data.

what a politician says....is irrelevent. every country wants to be number one. every country wants more purchasing power. every country wants their currency to eventually be a reserve currency.

[KiaKaha]

Iv'e posted some dumb stuff before. This one takes the cake. A Newbie on a Veteran site, sucks to be them about now. You pretty much asked for it, I got all ideas you're gonna get it! Welcome aboard! You got guts.

 

Slay, they did start out with the disclaimer that hopefully Forbes will have to print a retraction soon...

 

KK

[sandstorm]

Here are some main factors determining an exchange rate. the simiarities between the two countries....balance of trade between the two countries.....political stability........gdp...........inflation....and so on. the function of a currency is to be a stable means of exchange.....not to create wealth....not to show the world they have pride. like the guy said....they could discover the largest gold mine tommorrow and it still not rv.

[allinxpress]

i know and your correct. the answer is always common sense. i just dont see why we have to quote reagan to be able to find an answer. just a little thing that gets under my skin. i just hate when people dont get to the point and stand firm. sometimes like they have to convince themselves reagan would do it...then its all right. i prefer straight talk. say what you mean and mean what you say. Use common sense and stand on convictions. id really care less what someone said. a hundred years ago. thats jmo

wo...wo nelly. slow your roll. if this goes belly up.......we cant say we werent warned. federal indictments and state government warnings.....do what you will with it. this is high risk speculation with no guarantees. if you think the cbi has told you........then you can believe that all day.

I could give plenty of evidence of another outcome.....but i will not. i have been down that road many times. once i present a glimpse of a different outcome.....you will turn angry....question why im here....try to minimize the possibility. so. i dont care to explain it out...to someone whose already in a defensive mood.

keep calling all the professionals in your phone book...evidently they have there reasons.

best of luck to you.

Best of luck to you as well. Im not defensive, just honest, excited and involved in an investment that even though at times is clouded by political wars and conflicts, is backed by history and facts.

I have no problem with hearing you out, just please try to make sure your argument contains facts and not just opinions.

And I know people say, Well.. has it RVd yet? No.. so there u go. Well.. things take time, especially getting 3 different religious sects on the same page While also getting them to implement an entirely new government system. These tribes have been fighting for years, but have accomplished so much in the past 2 years its a miracle. They are about to transition into a free market economy, they have tons of investors looking to get involved in construction, telecommunication and agriculture.. they jsut started flying to Kuwait and London for the first time in over 20 years.. I mean.. Man o Man... Its not difficult to see the writing on the wall. But, again.. there I go with my positive attitude based on factual evidence.. lol. Im a nut job!! lol

Has the exchange rate of the USD Plummeted since Obama took office??  No.. Well Why not? Talk about Political Instabilty right? 

We havent had a budget since he took office. All We do is kick the can down the road, instead of creating a resolve that will last for more than 6 months, AND Our Democratic President is constantly at war with his GOP counterparts...

 

A Currency is a country,s main product. it Has to reflect the actual value of the country it represents, or in todays world.. come close unless you are China and u keep the exchange rate a little bit lower so u can reap the import/export tax rewards.

[Slaydadea]

I hope this guy will have to make a retraction statement soon!!!!!!!!!!!   This is from Forbes

 

 

In the words of popular comedian Ron White, “You can’t fix stupid.” That phrase, as elegant in its simplicity as it is frankly true, applies with special fervor to those who continue to believe that they are about to make millions, billions, or even trillions by investing in Iraqi dinars.

Yes, I know this has been written about before. Fellow Forbes’ contributorJohn Wasik wrote about this scam last January athttp://www.forbes.com/sites/johnwasik/2012/01/19/the-curse-of-saddam-iraqi-dinar-deals/ And even various law enforcement agencies are publicly warning about this scam, such as that of the Washington State Department of Financial Institutions at http://www.dfi.wa.gov/consumers/alerts/iraqi-dinar-scams.htm

Yet this scam continues to persist, and hardly a week goes by that some sucker or another doesn’t call my office to inquire about asset protection planning for the untold riches that he or she is about to receive when the Dinar finally re-valuates by 100 times or more.

 

 

Of course, they can’t pay my legal fees now for such planning because every last cent is invested in the Dinars. But they can pay me when they finally reap their great reward.

Which is never.

Scams involving the arbitrage of foreign currencies have been around as long as there have been, well, foreign currencies. In the modern age, many pyramid schemes have been disguised as sophisticated “FOREX trading programs” — but in fact, the scammers weren’t doing any trading at all, but simply paying old investors with the money from new investors. Charles Ponzi, the modern Father of such schemes, would be proud.

In fact, FOREX scams became so widespread in the 1990s — playing on the speculation regarding the then-new Euro — that the U.S. Commodities Futures Trading Commission was compelled to put out a great deal of warnings about these scams. 

 

 

There exists an entire army of FOREX scammers who spend their entire days looking for suckers, which unfortunately include the most vulnerable in our society such as the elderly. For those folks in or nearing retirement whose ordinary investments didn’t quite get them where they needed to be, these scam artists are ready, willing and able to divest them of their remaining wealth with promises of high “risk free” returns trading in FOREX. But that money is just disappearing to banks in Belize or elsewhere.

The FOREX scams didn’t involve any actual purchases of foreign currency, but simply scam artists running utterly bogus “statements” off their printers that showed huge returns, right up until the time that the scammers disappeared. Some of the Dinar scams operate the same way: You don’t actually get any Dinars, but instead just a statement showing that you have Dinars or some sort of phony-baloney “Certificate” of ownership.

But — and this is why the Dinar scam has been largely successful — with the Dinar scam you can actually get the cold hard Dinars if you want them. Yep, suckers around America have their closets and garages full of bales of Dinars, just waiting for that glorious day when they will re-valuate.

Which is never.

To help sell the scam, the scam artists have set up all sorts of websites and bulletin boards and newsletter and social media and you-name-it to try to create the impression that the Dinars are valuable and are about to re-valuate at any moment. I’ve had people tell me that their Dinars are going to re-valuate “within the week” or “by the end of the month”, and they’ve been telling me for years.

All of this reminds me of the “Magic Bean Scheme” which was a pyramid scheme run in my native Oklahoma by some creative scammers. The idea was that you could buy from the scammers a certain type of expensive bean that when left in a jar of water for a couple of weeks would produce valuable “bean juice” that could then be re-sold for a large profit. The key was, according to the scammers, you had to shake the jars every few hours to get the desired result.

Of course, the scammers threw some of their own money in to get the scam started. The first few people made some good money selling their bean juice, and of course they told their friends and family about this new sure-fire way to make a fortune. Soon enough many folks in Oklahoma were brewing “bean juice” in their garages, going out every couple of hours to shake the jars so that the bean juice would form faster. “Honey, it’s 4:00 a.m., and you turn to shake the jars.”

Then, one day after selling enough of the expensive beans, the scammers vamoosed and there were a lot of folks in Oklahoma with closets and garages full of jars of worthless beans and juice in them — turned out the beans were just ordinary navy beans. My guess is that there are still people out there who have never given up on the beans, still turning them, and still expecting that bean juice to result in untold riches.

Ditto for the Dinars, the bales of which some suckers having in their closets and garages, taking up space and waiting for the day when they finally re-valuate.

Which is never.

Unfortunately, a bad thing about human nature is that once folks believe in a story, they refuse to believe they have been scammed. Often they are embarrassed, and figure that to admit they were wrong is worse than simply keeping their useless whatevers in the closet or out in the garage. But others are really, truly convinced that their initial investment was a good one, and no amount of proof or logic can dissuade them.

Even after Charles Ponzi died, some of his followers bought OUIJA boards and tried to channel his dead soul to find out when their utterly worthless investments would become valuable as he promised. Time and time again, I’ve watched as the victims of pyramid schemes continue to believe that they are about to get rich even as the perpetrators went to jail.

For me, after telling these folks they’ve been scammed and hearing their denials, I’ve been betting these folks who call me up to $5,000 in free legal work if the Dinar re-valuates in 30 days, against a gift certificate from a steakhouse. Suffice it to say that I’m going to be in good beef for some time. Which brings me back to Ron White, who is absolutely right: “You can’t fix stupid.“

And that goes for the Dinars, and the idea that they will soon re-valuate, thus leading current investors to great riches.

Which is never.

So, why is this a scam? It is a scam because the Dinar has no chance or significant appreciation, i.e., appreciation that would make buying Dinars worthwhile. First, there is the political uncertainty — who would invest in the currency of a government that is still fighting a significant insurgency and might not be around the next year, any year? Second, and much more importantly, there are so many Dinars floating around that even if Iraq discovered the world’s largest gold mine tomorrow, the value of the Dinar would not significantly appreciate.

The scam artists say, “But look at Kuwait!” After the first Gulf War, the Kuwaiti Dinar did show significant appreciation. But that is an Apples and Orangutans comparison.

First, Kuwait is significantly richer than Iraq with significantly larger oil reserves — it is forgotten that the Iraq invaded Kuwait to get the latter’s oil reserves, not because Iraq had enough of its own.

Second, the Kuwaiti population is much smaller — 3 million compared to the 33 million living in Iraq. This means that Iraq has to take care of ten times as many people as Kuwait, as well as attempt to rebuild an infrastructure racked by a decade of civil war, with less money than Kuwait.

Third, and even more telling, the Iraq government even now has to borrow about $100 million per year to provide basic services. No country which is borrowing money is going to have an “imminent revaluation” (the term often used by the scam artists to sell Dinars) anytime soon!

Fourth, Kuwait had a stable government before the War that simply fled Kuwait until order was restored, and then returned to be a stable government. By contrast, Iraq’s government is new and whether it survives is anybody’s guess.

The point is that there is absolutely no reason to believe that the Iraqi Dinar will significantly appreciate in the long term, and it utterly insane to believe that the Iraqi Dinar will significantly appreciate in the short term, i.e., within 10 years.

And there is the scam: The scam artists sell Iraqi Dinars to suckers based on the false story that the Iraqi Dinars are about to become very valuable, when they are not. You might as well buy bags of sand, because they are going to appreciate more quickly than the Iraqi Dinar. Or just go down to the bank and buy rolls of pennies and hide them in the attic. Someday the U.S. government will get rid of pennies, and then the pennies will become rare and valuable — in about two hundred years. That is about how quickly the Iraqi Dinar is going to appreciate too.

Which is never.

Update 30 August 2012

After this article was published, I had numerous e-mails to the effect that I didn’t know what the hell I was talking about, and that the Iraqi Dinar would absolutely, positively re-valuate within a few days and the buyers thereof would become fabulously wealthy. Well, here we are 30 days later, and . . . the . . . Dinar . . . hasn’t . . . gone . . . anywhere.

If you think the Iraqi Dinar will make you rich, you must be listening to Baghdad Bob!

The only thing that did happen of interest is that Justin Rohrlich wrote this article: http://www.minyanville.com/business-news/editors-pick/articles/iraqi-dinar-scam-currency-investment-tampadinar/8/30/2012/id/43627

I’ll update again in another 30 days, and for those of you who are still wondering, I don’t suggest the Dinar will substantially revaluate by that time either.

Update September 30, 2012

Well, surprise, surprise, surprise, the Iraqi Dinar did not re-valuate upwards in September, but we did see some interesting news on the Dinar front.

Such as this article, “Prosecutor: Fake Iraq Veteran Sold Fake Hedge Funds” at http://www.finalternatives.com/node/21635

Or this article, “2 Who Bought Iraqi Currency Bring Suit Against Indicted Sellers, Firm” at http://www.toledoblade.com/local/2012/09/22/2-who-bought-Iraqi-currency-file-suit-against-indicted-sellers-firms.html

I’ll update again in 30 days — during which time the Iraqi Dinar will not have revaluated then either. But there will still be lots of suckers in denial at having been scammed sitting around thinking they are gazillionaires.

This article at http://onforb.es/T1sOnq and http://goo.gl/GwfJM

Update October 31, 2012

Nothing new to report. The Iraqi Dinar is as far from an upwards re-valuation as ever — you might as well wish for Jack’s Magic Beanstock to take the Dinar upwards. But, lots of seriously deluded folks still continue to believe they are going to get enormously rich off the bales of Dinar’s socked away in their attics and garages through America. My guess is that pretty quick you’ll be able to buy as many Dinars as you want at garage sales.

Update January 31, 2013

Well, I must apologize to everybody for not updating at the end of November and December, 2012, but I got very busy with clients’ year-end planning . . . and frankly nothing was going on with the Iraqi Dinar anyway. So let me take this opportunity to update you on what has been happening with the Iraqi Dinar through January 31, 2013, which is: Nothing, Absolutely Nothing.

I have noticed, however, that sellers of Iraqi Dinar are starting to offer “free gifts” to suckers who buy that currency from them, sort of like “Buy 1 Trillion Iraqi Dinar And Get A Free Pinata” or some such (the Vietnamese Dong, a currency of sorts, seems to be a popular give-a-way with purchases of Iraqi Dinar).

The Better Business Bureau warns about the Dinar Scam at http://www.central-northern-western-arizona.bbb.org/article/iraqi-dinar-investments-opportunity-or-scam-34951

This expose of the Dinar Scam is pretty good too – http://www.learningmarkets.com/the-iraqi-dinar-scam/

Poster should not be chastised for bringing others opinions. Great job Bud! +1 for guts. 

[dinar fellow]

   It is a scam until we make millions......... but with all of the lies that come about from the dinar site he just might be right.............we havent made money yet so this is a scam if until we see a return onour investment............    

[SnowGlobe7]

if the dinar is a scam does that mean the dong is a scam as well?

[EagleEye]

Also, keep in mind that every time someone clicks on his link and goes to his site HE GET'S PAID!!!  

 absolutely Bumper the real issue here is ...follow the money... 

[Linda]

Welcome bamastorm....good to have you here....

[R Veyron]

if the dinar is a scam does that mean the dong is a scam as well?

 

The currency itself is not a scam , it is how it is presented and exploted is what is the aspect of the scam im question. It is absolutely true that many are indeed misleading numerous individuals, much to their dismay at times, but it is legal to buy and sell both Dinar and Dong so the money is not the scam.

[doctor robbins]

Ok, a couple of things. For someone that doesnt seem to believe in this investment, you sure have a lot of time to post 6,525 times. Ive read some of your dribble.. and as always, u never back up anything u say with facts.

Heres a fun fact for you... Iraq is telling us what they are going to do. THEY are the ones saying they are going to drop the artifical program rate. THEY are they ones putting out articles saying they have been drawing in the large notes, passing investment and banking laws to strengthen thier economy. THE head of the banking and finance ministry said the Iraqi Dinar would soon return to the exchange rate it was prior to 1980. THEY just passed the largest budget in the history of thier country.

 

As I have studied this investment over the past couple of years, this one thing has remained constant: The naysayers or peope that dont believe in this can never provide facts to back up why it wont happen, or why in thier opinion the rate will not increase overnight. All they say is.. it wont happen. So then I ask.. OK... what do you think will happen with the 4th largest crude oil reserve in the world, and the current #2 oil exporter in the world. Heres the answer they give:  I dunno, but not what u think is going to happen.   OK.. then WHAT WILL?     Again.. they say I dunno.

 

Sometimes I bombard them with more factual evidence, like History, or the fact that Iraq has 68 BILLION in cash reserves, on top of the 29.5 tons of gold they hold in those reserves, and I can recite more fats but then I stop and say... Why. Why waste my time? The reason I have chosen to take the time out today is simple... I have visited a number of Dinar sites, and this site has the most negativity out of all of them, and to be honest, its because of members like yourself. I dont know if you get a kick out of being the way you are, but what is relevant is that your argument is based on your opinion... not any facts.

 

Does anyone REALLY think that a country whose currency history was Always at least 2.80-3.71 to 1 usd, and who is producing over 3 mil barrels of oil per day, making about 180 billion a year in just oil alone... will continue to have a currency whose value is 1/10 of a penny?? 

 

Money talks in this world. its all about the $$$. Which makes me very happy to have learned about this investment. Take care!

 

Iraq has never used the expression "artificial program rate".  Iraq has never said they're drawing in the large notes.  And they've never said that the exchange rate would be the same as pre-1980.   That's all pumper hype.  True, they have $68 billion in cash reserves, but they also have over 70 trillion dinar in their M2.  The amount of gold in their reserves is irrelevant.  Whether it's comprised of gold, euros, USD, GBP .... the amount is still $68 billion or thereabouts and it's still backing an inflated money supply.  Before you accuse others of ignoring facts you might want to get yours right.

[caz1104]

 

Also, keep in mind that every time someone clicks on his link and goes to his site HE GET'S PAID!!!

 Yes sir!!! I myself think it's ok,but if some have a problem with the so called "gurus" getting paid,where is the uproar over this?

[staunch]

The facts are....there are no facts. You can quote what they have accomplished as fact all day long, but it still remains a fact that we don't know what they are going to do.

[MyLadiesDaddy]

Iraq has never used the expression "artificial program rate".  Iraq has never said they're drawing in the large notes.  And they've never said that the exchange rate would be the same as pre-1980.   That's all pumper hype.  True, they have $68 billion in cash reserves, but they also have over 70 trillion dinar in their M2.  The amount of gold in their reserves is irrelevant.  Whether it's comprised of gold, euros, USD, GBP .... the amount is still $68 billion or thereabouts and it's still backing an inflated money supply.  Before you accuse others of ignoring facts you might want to get yours right.

 

I wasn't going to respond again in this fight until I read your post. 

 

You are exactly the type of poster who makes me think of government 

 

hacks. How can you make the forgoing statement and claim to know anything 

 

about this speculation? You come on here spewing your'e lies and think your'e 

 

doing something good? I would suggest that you go back and read some 

 

news articles before you make a bigger fool of yourself. doctor.   

 

[keepmwlknfny]

Ok, a couple of things. For someone that doesnt seem to believe in this investment, you sure have a lot of time to post 6,525 times. Ive read some of your dribble.. and as always, u never back up anything u say with facts.

Heres a fun fact for you... Iraq is telling us what they are going to do. THEY are the ones saying they are going to drop the artifical program rate. THEY are they ones putting out articles saying they have been drawing in the large notes, passing investment and banking laws to strengthen thier economy. THE head of the banking and finance ministry said the Iraqi Dinar would soon return to the exchange rate it was prior to 1980. THEY just passed the largest budget in the history of thier country.

 

As I have studied this investment over the past couple of years, this one thing has remained constant: The naysayers or peope that dont believe in this can never provide facts to back up why it wont happen, or why in thier opinion the rate will not increase overnight. All they say is.. it wont happen. So then I ask.. OK... what do you think will happen with the 4th largest crude oil reserve in the world, and the current #2 oil exporter in the world. Heres the answer they give:  I dunno, but not what u think is going to happen.   OK.. then WHAT WILL?     Again.. they say I dunno.

 

Sometimes I bombard them with more factual evidence, like History, or the fact that Iraq has 68 BILLION in cash reserves, on top of the 29.5 tons of gold they hold in those reserves, and I can recite more fats but then I stop and say... Why. Why waste my time? The reason I have chosen to take the time out today is simple... I have visited a number of Dinar sites, and this site has the most negativity out of all of them, and to be honest, its because of members like yourself. I dont know if you get a kick out of being the way you are, but what is relevant is that your argument is based on your opinion... not any facts.

 

Does anyone REALLY think that a country whose currency history was Always at least 2.80-3.71 to 1 usd, and who is producing over 3 mil barrels of oil per day, making about 180 billion a year in just oil alone... will continue to have a currency whose value is 1/10 of a penny?? 

 

Money talks in this world. its all about the $$$. Which makes me very happy to have learned about this investment. Take care!

First off if I didnt think we could make anything I wouldnt be here still......I do believe there is a chance....but its a small one....and if you read my "dribble" I actually do post a lot of what you would call factual information in regards to topics I may bring up.

 

You are saying that Iraq is telling us what they are going to do?  If thats truely the case, then we all better sell out now cause they are not talking about a straight up RV....they are talking about redenominating to bring the dinar on par with the dollar....

 

My arguments are not based on opinions (not all of them anyways) its based off the information available to us provided by the CBI itself and other parties that are keeping tabs on Iraq.....

 

They are making strides forward as a country, but that doesnt automatically mean the currency is gonna be worth what it used to be....just because they are producing oil does not mean that it erases all the monetary mistakes of the past....

 

The reserves are up, but so is the currency in circulation.....its diluted...thats the problem....economics will tell you that the CBI cannot just magically claim a new value with the amount they have out. They have not been saying they have reduced the money supply....thats false....whenever they have stated they have "pulled in" dinar, its put right back into the banking system.....the money supply is always growing...thats our biggest obstacle....

 

Producing oil is not whats backing the value of the dinar.....will the dinar stay at the value it is now?  No....I know it wont....but there are two ways of achieving parity with the USD....and the only way the CBI has been talking about doing that, is by taking the easy way out and lopping, which we dont want....everything I base my statements on, is from what the CBI is telling us....and its kind of ironic that you are stating they are telling us exactly what they are doing, but yet it only backs up what I have been saying for quite sometime....

 

We really are only speculating on if the CBI is telling us the truth or not.....if they are telling the truth, we dont stand to make any money off of this....are you sure you are understanding whats coming from the CBI?

[boomer113189]

First off if I didnt think we could make anything I wouldnt be here still......I do believe there is a chance....but its a small one....and if you read my "dribble" I actually do post a lot of what you would call factual information in regards to topics I may bring up.

 

You are saying that Iraq is telling us what they are going to do?  If thats truely the case, then we all better sell out now cause they are not talking about a straight up RV....they are talking about redenominating to bring the dinar on par with the dollar....

 

My arguments are not based on opinions (not all of them anyways) its based off the information available to us provided by the CBI itself and other parties that are keeping tabs on Iraq.....

 

They are making strides forward as a country, but that doesnt automatically mean the currency is gonna be worth what it used to be....just because they are producing oil does not mean that it erases all the monetary mistakes of the past....

 

The reserves are up, but so is the currency in circulation.....its diluted...thats the problem....economics will tell you that the CBI cannot just magically claim a new value with the amount they have out. They have not been saying they have reduced the money supply....thats false....whenever they have stated they have "pulled in" dinar, its put right back into the banking system.....the money supply is always growing...thats our biggest obstacle....

 

Producing oil is not whats backing the value of the dinar.....will the dinar stay at the value it is now?  No....I know it wont....but there are two ways of achieving parity with the USD....and the only way the CBI has been talking about doing that, is by taking the easy way out and lopping, which we dont want....everything I base my statements on, is from what the CBI is telling us....and its kind of ironic that you are stating they are telling us exactly what they are doing, but yet it only backs up what I have been saying for quite sometime....

 

We really are only speculating on if the CBI is telling us the truth or not.....if they are telling the truth, we dont stand to make any money off of this....are you sure you are understanding whats coming from the CBI?

Exactly

[cheevo]

Sunday, March 25, 2012 BAGHDAD - Naseer Goldfinch Official sources in the Iraqi Central Bank to the project to delete three zeros from the Iraqi dinar actually began, and that the process will cost the budget 172 billion dinars (150 million dollars). She explained that the budget next year will be the new dinar, which will serve the Central Bank to gradually raise its value against the dollar and equal access to price, any dinars per dollar. Showed official documents private replace the dinar obtained by the «life» that the new edition will be issued in three languages, Arabic, Kurdish and English, as will cost the printing process, which will be forwarded to one of four international companies specialized $ 150 million, including printing, transportation, insurance, and work outside of office hours for the destruction of the currency old within the «central».

According to this old article, delete the zeroes already began!!! Maybe auctions are coleecting 3 zeroes and destroying them like article says!!! Hopefully!!

[boomer113189]

Cabinet says stops plans to redenominate dinar "until further notice"    date april 12 2012

[Nelg]

Body odor is offensive but it doesn't hurt anyone, it just smells bad. I don't have to stay around sniffing the air so I can announce to everyone that enters the same room. 

These articles appear like clockwork when some ardent, so called financial guru wants to play "blow smoke" without having a cigar.  I read about halfway through the article and decided I wouldn't read anymore. It just wasn't worth my time and effort. If that's his opinion then he has a right to it. But I don't need to "smell the odor" and debate whether he needs to shower or not.  If he wants to "blow smoke" he needs a nice big cigar, which the writer does not have.