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

[Darin]

You know, I can understand the claims of no immediate revaluation, but to deny the idea that even gradual appreciation is out of the question is plain foolish.

Within the past 10 years, the value has gradually appreciated.

 

But everyone is entitled to their opinion.

Financial advisers are not always right... I questioned one about gold prior to its more recent run up and he said to me he was telling his clients to not buy it or sell it.

Talk about credibility now, huh?

[doctor robbins]

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.   

 

 

If you can provide any links to prove me wrong I'll be happy to look at them and admit I'm wrong. I'm pretty confident though that I've already read the articles in question and they don't say what the gurus claim they say. The CBI is on a program rate but they have never referred to it as artificial. They bring dinars in through the auctions but as keepmwlknfny pointed out those dinar go right back out into circulation and the money supply keeps growing. And there has been talk of Iraq's currency returning to its former glory via the delete the zeros plan, but that's referring to a re-denomination that would result in a new dinar worth about 86 cents rather than a revaluation to 3 dollars or more.

[Thaiexpat]

One glaring "stupid" that I noticed in his article is the idea that Iraq invaded Kuwait for their oil. Simply not true. The Kuwaiti's were drilling side-ways and STEALING oil from Iraq. So, from that point-o-view, its "lets punish those thieves".

[allinxpress]

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.

 

 

Here ya go Doc... u might want to do your homework .. I know I Did Oh.. and research IMF and World Bank.. They have used the term "artificial program rate"..  

Those of us that have doen our research know that 1166 in NO way represents the value of Iraq.

 

http://************.com/2013/02/03/iraqi-dinar-would-soon-return-to-what-it-was-prior-to-1980-due-to-global-demand-banking-and-finance-ministry-head/

 

And this is without even really looking, but i figure, ya know what? I know i have the facts to back me up.. let me see YOU provide some facts to back up what You are sayin..

 

Oh.. and to the Negative Mega poster... No way an RD helps Iraq at all. Iraq has to have an international Exchange rate that is competitive within thier region. Again.. they have told us what they are going to do and how they will restore the purchasing power of the dinar to what it should be   

[Sage449]

When I read articles like this, I often wonder who pees in his post toasties in the morning - glass half empty mentality and somehow they never are satisfied unless they can quash the dreams of others. I know many that are holding dinar and they did it based on what they could afford to lose. Based on putting my money in some of the recent bank deals and their housing failures - who is right? Us for holding dinar or those that went the way of the real estate bubble thanking the investment gurus that are "professionals"?

[sandstorm]

Allinexpress, unfortunately ive understood the cbis statement the same way as keepm and dr robbins. is it smoke? Maybe....but its undoubtedly what theyve said. sure iraq wants to be on par with the dollar......but theres more than one way to do it. you say a rd doesnt help iraq? It would, compared to a 1 dollar rv. a rd/lop costs about 150 million. if they rv to a dollar....they will owe trillions and trillions. meaning they either give away their oil for free...until they over the trillions or unless there willing to empty usd from there reserves.

check out the dinar question thread.....there are a few pinned topics that will open your eyes. in fact check out the debate thread. and look at sonny1 and jwm.....they bring all this out.

[allinxpress]

Why would Iraq want to be on par with the USD when it has always been 3-1?  That makes no sense to me. Has the oil in the ground LOST value? No, it has tripled since Iraq and thier currency was global.

 

In truth, we have no idea what they mean by 1-1. we really dont. I do know I have never seen an article from the institutions I have mentioned earlier that said Iraq wants the exchange rate to be equal to the exchange rate of the USD, so that being said i will rely on my research, the history of the currency in question, and plain old logic.

 

Have a great day everyone!

[sandstorm]

Why would Iraq want to be on par with the USD when it has always been 3-1?  That makes no sense to me. Has the oil in the ground LOST value? No, it has tripled since Iraq and thier currency was global.

 

In truth, we have no idea what they mean by 1-1. we really dont. I do know I have never seen an article from the institutions I have mentioned earlier that said Iraq wants the exchange rate to be equal to the exchange rate of the USD, so that being said i will rely on my research, the history of the currency in question, and plain old logic.

 

Have a great day everyone!

have a good one too. i hope you find what your looking for.

[Goldiegirl]

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!!

Yes it did begin and wasn't there article back in late 2011 where they talked about what stage they were at? Weren't they at stage 2 of the 3 stages of this project somewhere are year ago?  I know I saw all these articles back then.

 

So has that project all been scraped by Maliki because Shabs is out? A year ago they talked about the smaller denoms....we don't hear about that anymore.

 

Thanks for posting this old article peice. Do you have the link to this?

[boomer113189]

good stuff

[DinarNate]

You invest in something when it is cheap and reap the rewards later. That is what we have done and it is what every super wealthy person does, buy low sell high.. this guy is stupid. Everything he points out are to me reasons why this investment works, if iraq was already awesome their money would be better and it would be too late.

[keepmwlknfny]

Oh.. and to the Negative Mega poster... No way an RD helps Iraq at all. Iraq has to have an international Exchange rate that is competitive within thier region. Again.. they have told us what they are going to do and how they will restore the purchasing power of the dinar to what it should be   

This is exactly why I asked you if you even understood what the CBI is saying they are gonna do.....

 

Because they are talking about redenominating......not a straight up RV.....I think you have been mislead and possibly confused from all the jargon coming from the many gurus on the CBIs plans to delete the zeros....

 

How would a RD not help them?  It would bring the dinar on par with the USD and cut the inflated money supply to more manageable numbers which is what they have stated as the reasoning behind RD....

 

All Iraq exports is oil....so what good would having a competitive exchange rate have??

[doctor robbins]

Here ya go Doc... u might want to do your homework .. I know I Did Oh.. and research IMF and World Bank.. They have used the term "artificial program rate"..  

Those of us that have doen our research know that 1166 in NO way represents the value of Iraq.

 

http://************.com/2013/02/03/iraqi-dinar-would-soon-return-to-what-it-was-prior-to-1980-due-to-global-demand-banking-and-finance-ministry-head/

 

And this is without even really looking, but i figure, ya know what? I know i have the facts to back me up.. let me see YOU provide some facts to back up what You are sayin..

 

Oh.. and to the Negative Mega poster... No way an RD helps Iraq at all. Iraq has to have an international Exchange rate that is competitive within thier region. Again.. they have told us what they are going to do and how they will restore the purchasing power of the dinar to what it should be   

 

Thanks for the link.  Yes, I've read that article and it doesn't say that the exchange rate will be what it was pre-1980.  It says global demand will be what it was.  A global demand isn't determined by the value.  Japan's currency is worth about a penny and there is global demand for the yen.  South Korea's currency is traded globally at about the value of the dinar.  And I've yet to find any reference to an "artificial program rate" from the World Bank or IMF. 

[dontlop]

the cbi ";MAGICLY" GAVE THE SWISS DINAR A NEW VALUE .....IT WAS DEMONETISED FOR 13 YEARS ..YET THEY GAVE 150 TIMES   MORE VALUE THAN THE SADDAM DINAR THAT WAS BACKED BY THE CBI .. UP UNTIL THE DAY OF THE  EXCHANGE IN 2003

THE SWISS DINAR WAS WORTH LESS THAN   .00000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000001

 YET THEY EXCHANGED THEM AT 150 NEW DINARS FOR 1 DEMONETISED  SWISS DINAR .. WHATS THAT A COUPLE TRILLION PERCENT RV ?

 

 AND IT WAS AN OVER NIGHT RV TOO.

 

YEP YA CANT FIX STUPID ,, I AGREE

Edited March 13, 2013 by dontlop

[MyLadiesDaddy]

YEP YA CANT FIX STUPID ,, I AGREE

Read more: http://dinarvets.com/forums/index.php?/topic/143526-you-cant-fix-stupid-the-iraqi-dinar-scam-lives/page-4#ixzz2NpQ7qSUr

 

 

Yea, and we sure get allot of that here. But you are very good at pointing out the 

 

facts to them. 

[dontlop]

ya they got all kinds of ways to defend the lopster side of the arguement .. they must have a vengence on the  rv crowd .. who knows why .. they must of sold everything they had and bought dinars  on a okie story that a rv was imminent  one week years ago .. and it  didnt happen .

 

 its their way of life to hang around investments they believe  will never pan out .

[Noni]

H   have

O   only

P   positive

E   expectations

 

Anything else is exhausting!  Conserve your energy for the PARTIES!!!

[makecents]

the cbi ";MAGICLY" GAVE THE SWISS DINAR A NEW VALUE .....IT WAS DEMONETISED FOR 13 YEARS ..YET THEY GAVE 150 TIMES   MORE VALUE THAN THE SADDAM DINAR THAT WAS BACKED BY THE CBI .. UP UNTIL THE DAY OF THE  EXCHANGE IN 2003

THE SWISS DINAR WAS WORTH LESS THAN   .00000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000001

 YET THEY EXCHANGED THEM AT 150 NEW DINARS FOR 1 DEMONETISED  SWISS DINAR .. WHATS THAT A COUPLE TRILLION PERCENT RV ?

 

 AND IT WAS AN OVER NIGHT RV TOO.

 

So i guess those that had their cash in Swiss dinars and were using them in their day to day lives (the Kurds in the north) are all at least billionaires now, right?  Funny that the economy of Iraq sure does not look like that is the case.

 

Then again maybe all that was done was to recognize that there were multiple currencies in use at the time, despite the declarations of Saddam about demonetizing the Swiss dinar.  Thus exchanging them for the actual purchasing power they each had in local markets so that the exchange for the new Bremmer dinars was a value neutral event for holders of either type of currency.

Edited March 17, 2013 by makecents

[sxsess]

You can't fix stupid?? This guy is an idiot! People have already made profit that got in early. I'm with you bama I hope this moron will be eating his words soon.

[keepmwlknfny]

So i guess those that had their cash in Swiss dinars and were using them in their day to day lives (the Kurds in the north) are all at least billionaires now, right?  Funny that the economy of Iraq sure does not look like that is the case.

 

Then again maybe all that was done was to recognize that there were multiple currencies in use at the time, despite the declarations of Saddam about demonetizing the Swiss dinar.  Thus exchanging them for the actual purchasing power they each had in local markets so that the exchange for the new Bremmer dinars was a value neutral event for holders of either type of currency.

Sounds like good reasoning.....

 

The kurds did have their own banking system apart from the CBi and it still is today....they are not required to report to the CBI about their holdings....

[LIBoy]

Sounds like good reasoning.....

 

The kurds did have their own banking system apart from the CBi and it still is today....they are not required to report to the CBI about their holdings....

Keep, you are a very book smart, by the numbers type of investor. I respect that position because I am as well. However when it comes to this particular investment, for me anyway, all that goes right out the window. For me and many others, this is a faith based investment. It literally has the potential to be an investment of biblical proportion. The likes of which the world has never seen.

I love reading articles like this because it only reinforces my belief in "high risk, high reward". When this thing hits, and in my heart I know it will, we are all going to look like the Einstein's of the investment world because so many experts are saying, outwardly anyway, that this investment is a scam. That increases the high risk of the investment and it also increases the high reward, so please Lord keep them coming!

[makecents]

Keep, you are a very book smart, by the numbers type of investor. I respect that position because I am as well. However when it comes to this particular investment, for me anyway, all that goes right out the window. For me and many others, this is a faith based investment. It literally has the potential to be an investment of biblical proportion. The likes of which the world has never seen.

Are you using such terms as "biblical" in a generic sense as in huge, or are you saying it is your religions beliefs that lead you to think think this is a good investment? (hope you don't mind my asking, I suppose that was a little personal).

[4aprofit]

After seeing thousands of things like this below, and/or similar things like it over the years...I could care less who thinks that all of this is a scam?...Many may be asleep...but I'm not...It's really not hard to "follow the money"...lol...

 

 

There are too many of these, but this a sampling of a few things happening in Iraq that the mainstream media either blacks-out or ignores...how odd?....

Baghdad Gate
http://www.dsc-int.c....g/baghdad-gate


Proposed Baghdad Skyscraper City
http://www.skyscrape...d.php?t=1559800

Pictures from Najaf, Iraq
http://www.skyscrape...d.php?t=1128277


Link: "In Red" VISIT BAGHDAD, ARAB CAPITAL OF CULTURE 2013


Baghdad Pics:
http://www.skyscrape...d.php?t=1093703

BASRA: 'the venice of the middle east'
http://www.skyscrape...d.php?t=1128291

Jewish News One: VIDEO OF THE BOOM IN KURDISTAN, IRAQ

http://www.youtube.c...player_embedded

 

[makecents]

After seeing thousands of things like this below, and/or similar things like it over the years...I could care less who thinks that all of this is a scam?...Many may be asleep...but I'm not...It's really not hard to "follow the money"

I assume you are speaking of investment money for various projects flowing into Iraq and thus indicating a continuing growing GDP. Why do you think that will lead to a even a slowly rising exchange rate let alone a huge sudden RV (If you are among the RV believers)?

[4aprofit]

Why not at least have hope that there is anything and everything positive that can come form all of this....whether it's from Iraqs growth, GDP, simple economics, etc....what else is there for even any hope anywhere...as if nothing happens it really wont matter what color or type money we are holding in another year or two if there is no plan....what really is the point of worrying..either your in or your out...and this thing has not even finalized as per the final bell being rung as per the finality of it all...and they have had 10 years to have canned it all....and they havent...so ride or dump..it's simple...