Reader Comments To Dinars,Chinese Elders, Dragon Families, Bonds, Scams

[UNEEK]

JC Collins is  from Canada - not sure how or if that  has any bearing on how he writes and if it influences his perspective -  Some readers really get into an almost heated debate -  I hope other DV members are familiar with him and will respond to the thread - Thanks in advance

 

Reader Comments On: Dinars, Chinese Elders, Dragon Families, Bonds, Scams  By JC Collins

 

http://dinarvets.com/forums/index.php?/topic/203703-dinars-chinese-elders-dragon-families-bonds-scams-by-jc-collins/

 

Daddy Warbux   I agree with you. Here is another dirt bag from the Dinar world heading to prison for wire transfer fraud. https://www.youtube.com/watch?v=Lv-DscAQ78o

 

Rebecca   So the dinar is truly a scam even if you bought it from a bank

 

Dottie Derewicz   This is where I have the problem with the open mind concept. Before you really take serious anything that is put out there you need to investigate it thoroughly. And if you aren’t sure then ask someone you truly trust, such for myself would be JC. I think he has proved himself and would not steer you wrong.

 

Dottie Derewicz     rebecca, I think what JC wrote in this paragraph could help you.

The reality of the situation is that the dinar market has zero actual liquidity. The Iraqi currency is not even traded and can only be purchased through the online dealers who produce and support the scam script. They sell the storyline that the dinar will revalue upward and investors will make millions from nothing but a small investment. Many even claim what the new exchange rate of the dinar will be, while playing on the greed and dreams of those who desperately seek a better life.

 

Carey Peters   Dottie, I bought dinar from a bank as I believe rebecca was indicating the same. I know of many people who purchased their dinar from bank in the USA.

 

Jcollins    When? Where? For how much? Can they sell it back? Details please. No banks will sell or offer dinar as it is not internationally traded. Period.

 

Mel Chior   I’m from Canada. Many reputable currency dealers offer the IQD up here. I bought some many times at their exchange windows around my area and could sell it back tomorrow if I choose to. So far I haven’t sold any back. There is a rather large spread but it is available to us to buy and sell if we choose.

 

I highly respect your writings JC – always have! I’m guessing you just didn’t know this small detail about Canada.

Here’s the website of one of the dealers I’ve personally bought from at their exchange window – http://www.kantor.ca/ You can surf their site for current price quotes.

 

On a totally separate note – I came to the conclusion that I’d rather hold VND than IQD sort of on my own. Reading your logical explanations of what is happening in Vietnam helped me along the way. I agree with you on this.

 

Jcollins   You are correct Mel, the Kantor site does list IQD. With a quick glance Kantor appears to have a similar set up as the money market licenses which dinar dealers get down in the US. The dinar is still considered a currency that is not internationally traded. As an example, the Ice currency exchanges in the Airports up here do not offer dinar. Nor do the banks.

 

Michelle     https://www.xxxxxxxxx.com/bw

I have purchased dinar from this website for the past 4+ years now. Many locations within US. Based out of Florida and I researched before my first purchase. Roughly 1,000+ USD per 1million dinar.

 

They will purchase it back minus a spread. Many on a dinar site called Dinar Recaps “blog” page have stated they purchased Dinar at Wells Fargo but I cannot confirm.

 

 Many articles by JC Collins show up on this site as well. Also read a SIGIR report showing the actual value of dinar based on Iraq’s financial position was over $1+ and that was several years ago.

 

I have been researching since I invested many years ago. Please keep researching and let me know your thoughts … By the way I enjoy your articles! I realize it is not internationally traded but when it is, the dinar could be a great opportunity for those holding the currency. Of course this is my personal opinion.

 

Dane    Michelle 4 years is a long time.  I would ask them how they will handle IF the IQD is retired?

 

Will they still buy back useless money? If so for how much on the dollar?

 

How will they handle IF Iraq changes the denomination of their money by “removing zero’s?”

 

Will your $1000 investment be worth $10, $1 or nothing at all?

 

Just some logical questions to think about. I see you have the IF it becomes an internationally recognized currency covered already.   Good luck.

 

Continued..........

[UNEEK]

Dave Austin  May I bring your attention to a post that was published on 2/04/15

TrinityeXchange Analysis  – World Bank & Iraqi Dinar

 

So the WB’s original project closed out in 2013 (all projects must have a beginning and end date). And now we see a “new plan” unveiled by the Ministry of Planning listing the exact same priorities.

 

Looks to me like the Ministry of Planning has been meeting with the WB and has simply picked up where the original 2009-2013 project left off.

 

This tells us folks that we are not hoping for a revaluation according to arbitrary guess work. We have aligned our risks against a predetermined economic strategic plan that was held up by the previous regime but is now back in full swing.

 

MORE: http://www.****************.com/our-blog/trinityexchange-analysis-world-bank-iraqi-dinar

 

http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2013/12/26/000461832_20131226124146/Rendered/PDF/ICR30250P1133300disclosed0120230130.pdf

 

Jcollins    Dave, unfortunately your comment, and supporting links serve to re-enforce the message which I presented in the original post, namely that there is no supporting evidence or documentation outside of the story-line itself to support the revaluation of the Iraqi dinar.

 

First, the link which leads to a World Bank document on reforming the Iraq banking sector never once mentions currency or the word dinar. It is strictly about banking sector reform. The complexity of this information is easily manipulated and presented to those who do not understand that complexity.

 

If anything, based on the zero market liquidity for dinar, the document would support a re-denomination of the dinar as opposed to a revaluation.

 

Second, the linked article is exactly the type of false analysis and propaganda which I referenced in the post. Nothing in that link is based on actual evidence or is supported by anything outside of the story-line itself. Period.

 

 It is all pure fabrication and misrepresentation of the complex information in the World Bank paper on banking sector reform.

 

Iraq is in absolute turmoil with ISIS gaining ground and nearing Baghdad itself. The country is more likely to be fragmented or eventually consolidated within a larger Middle Eastern restructuring.

 

There is zero evidence to support a revaluation of the Iraqi dinar. But bringing it out of Iraq and selling it at inflated prices to westerners who believe the script of get rich quick is apparently a very prosperous business.

 

RR   Dottle,   I respect JC’s opinions on his blogs. But, you could for many years purchase dinars at major American banks. Some banks stopped selling them for business reasons, but you also have the US Treasury endorsing the selling of this currency by the exchange places and banks.

 

They all are regulated by the US Treasury, correct?. If JC’s post is 100% true on the dinar then everyone needs to sue the US Treasury on promoting this scam. Agree? My point is the currency is legit.

 

If you do your homework you can see a cycle with countries that have been over taken by war, their currency devalued for military or financial gain, and later down the road revalued to the price that it once was. Ex. Kuwait, Japan, Germany to just start your research on.

 

Maybe JC can do some homework on this and post it on the free side. LOL.

I agree there are a lot of pumpers in this investment, but try this site out for good solid information : http://www.another site.com

 

Jcollins    All those countries you mentioned re-denominated their currencies. Please provide proof of the revaluation. And the US Treasury themselves have issued warnings on the dinar scam.

 

What exchange places and banks are you referring too? Please provide links and evidence supporting this claim. And of course, you could, at one time, purchase dinars at American banks.

 

But that was only when it was still traded internationally. That was a long time ago. The scam continues and those being scammed continue to support the misinformation in efforts of denying themselves the reality that they have been fooled. I’ve done years of homework on this my friend. And its a scam. Period.

 

No hard documented and supported facts have ever, not once, been presented or brought forth to provide proof. Nothing. But don’t worry, next week it will happen. The bank tellers are ready and the funds are no longer blocked. Lagarde has signed the required documents.

 

RR   Jcollin,    Please provide the link on your following statement “US Treasury themselves have issued warnings on the dinar scam”.

 

Please understand there are scams in this investment, but it does not mean that the investment is a scam. Example: There are credit card scams, but it does not mean credit cards are a scam.

 

To follow up, I use to visit my local 5/3 bank on this currency. I could have purchase from them, but got a better rate at an online currency exchange. The online currency exchange gets audited by the US Treasury every year, to my understanding.

 

Also, please note that Iraq has pulled in the old Saddam currency years ago and reissued new currency. Also please note that new bills have been coming out with lower denominations.

 

Why would they keep the exchange rate very low and come out with lower denominations? They will have to raise the exchange rate some time to make the lower denominations useful in their country. Agree???

 

Please refer to the “gazette” in Iraq, equivalent to our “national register” and see the laws that have been pasted in the last year. They are making strides to set up their country to be a leading nation in this region.

 

Eventually you will have to agree if their GDP will reflect their production, which will have to be reflected by their currency as some point.

 

Look at how many barrels of oil they pumped five years ago to the average number today. I do not have the figures in front of me, but it is impressive.  Let’s keep our dialog respectful,   RR

 

Jcollins     Do you feel that my dialog has not been respectful? Strange how the truth can be consider disrespectful. I’ve given you the privilege of commenting on my site. That now ends with this last round of comments from you.

 

This response of yours has provided absolutely no additional supporting evidence or documentation on a dinar revaluation. You are simply repeating the same story-line which has been repeated over and over for years. The links you have provided do nothing to support, or even suggest, a revaluation of the dinar.

 

 The lower bills would in fact support a re-denomination of the currency, not a revaluation. I’m tired and sickened of terms such as “my local bank” and “to my understanding”, and “oil production will have to reflect in currency value at some point”. Sure it will, but not under the existing non-traded devalued currency.

 

Here are some links for you to read and understand friend.

http://www.investopedia.com/articles/forex/090314/top-ten-reasons-not-invest-iraqi-dinar.asp

 

http://www.forbes.com/sites/jayadkisson/2012/07/30/you-cant-fix-stupid-the-iraqi-dinar-scam-lives/

 

http://www.dfi.wa.gov/consumer/alerts/iraqi-dinar-scams

 

http://scam-detector.com/financial-scams/iraqi-dinars

 

https://www.iraqidinar.org/

 

http://investorplace.com/2014/06/iraqi-dinar-scam/2/#.VWeWUs9VhBc

 

This link contains massive evidence and documentation which cannot be simply brushed away.

 

http://argentfirm.com/wp-content/uploads/2014/01/PrimeScams.pdf

 

And in case you think I forgot, or was avoiding it, here’s your link to the US Treasury warning of all the scams, including the dinar, and the terminology they use, such as blocked funds.

 

http://www.treasury.gov/about/organizational-structure/ig/Pages/Scams/Prime-Bank-Investment-Fraud.aspx

 

Now bugger off before you really get me worked up. This is a scam through and through. Honest hard working people are getting robbed blind on this stupid script. That bothers me. Big time.

 

You having nothing to support your story. All you have done is proven how deep the delusion goes.

 

The sooner you accept this reality the better you will feel about yourself. And the less people you will drag into it with you. No further comments of yours will be posted, as I refuse to keep repeating the same message over and over.

 

RR    Link to laws to help on your research: http://www.iraq-lg-law.org/en

 

Jcollins   My research is complete. Your link provides no evidence of a dinar revaluation. It is a scam.

 

RR    Article from RT.com (5/27/15) to back up on the barrels of oil from Iraq a day claim that I stated in my last post:

 

Iraq is ready to increase its crude exports to a record 3.75 million barrels per day in June, continuing OPEC’s strategy of ousting US shale producers from the market.

The extra oil from Iraq comes to about 800,000 barrels per day, more than from another OPEC member, Qatar, said Bloomberg, referring to Iraq’s oil shipments schedule.  Enjoy,  RR

 

http://rt.com/business/262425-iraq-floods-oil-market/

 

Jcollins    Once again, contains no evidence or documentation of a dinar revaluation. Zip. Zero. But it does help understand the Iraqi oil market. Which has nothing to do with the dinar scam.

 

Dane    JC thank you for standing up on this issue. You’ve done a wonderful job of bringing light back to this scam.   Your lagitamacy is supported by concrete references. You’ve surely helped many.

 

Pushkara   JC, I am immensely grateful for this post and for the quality of each of your articles. I continue to search them out and to read through them, even while I lack the insight and understanding to apprehend the complexity of their subject matter.

 

 I would benefit from a POM primer course in the hopes of putting to work the principles and tools you are providing for your readers. The guidance in your SCAMS post comes through loud and clear. Blessings and thanks for your impeccable efforts.

 

Bella   I have a friend which I alway thought was intelligent recently tell me how she had been buying over a period of several years Dinar and Vietnamese Dong. Once she told me the background story and how much money she had invested I was appalled.

 

She is so invested emotionally in this scam she refused to listen to reason or do any research that would penetrate her deluded thinking. She has been feed a very detailed an elaborate scam, with all sorts of backup information to keep her hooked.

 

She is ready to cash in her millions and is waiting for the RV to begin this weekend or by June 1, 2015.

 

She has been listening to some sort of podcast that has a round table of international experts giving her and others insider information. I do not know if she pays for this information but I won’t be surprised if she did. She is loaded with all the buzz words and information only those few honest insiders will relate to the fortunate few that have come across this gold mine.

 

In her head she is already spending her millions. She had even gifted some dinar and dong to friends and those she wants to help. I am so completely appalled that an otherwise intelligent and thoughtful person would fall hook line and sinker for something so obviously a scam. I just wonder how long she will remain in this state of belief before she wakes up and feels foolish

 

Dineen Jogola     “According to the agreements, the new bill will be printed by a European company and introduced to the market gradually and in a well-planned schedule to ensure it will not result in shocks and would not have a negative impact on the market,” explained MP Khalil. He added the exchange rate between the new banknotes and the old ones would be 1:1,000. ”

 

http://www.kurdishglobe.net/article/3CBF63FA930E6C8FF6BBF1EDC3B7D027/New-banknotes-to-be-introduced-in-September.html

 

A little late, but the 50’s have been demonetized end of April 2015.

 

Ina-Lu Muresan     Seemingly unrelated is the notion of ‘grandiose projects’ that are ready to be rolled out with money provided for humanitarian ? projects.

 

The truth is that there is very little or no private funding at the moment to engage in the productive industry. The industries that ‘produce’ produce at the moment (in my limited awareness) are: financial and banking (using money and producing err… stuff), data industry (including software), manufacturing (mainly high tech automatics and electronics), clothing and accessories and telecommunications.

 

Another industry that is rapidly catching ground is telecommunications and banking – ewallet, busy rolling out in African countries.

Extractive (oil and gas and mining) industries developments are almost frozen with single efforts (Rio Tinto copper Mongolia) for elephant size deposits in very stable (politically) countries.

 

There might be efforts in China or Russia or South America, however they are not readily available for public query. The World is changing to a financially driven economy, and JC has made a pretty good assessment to it all.   That is just my opinion.

 

J. Carson   JC,   I read the link you gave on the Treasury regarding scams. It looks like after reading it that it is a general warning but I don’t read anything specifically against the dinar. I apologize if I am a bit unclear.

 

Jcollins   You are correct. I’ve reread it a few times as well and it doesn’t specifically mention the dinar. But the same language is used, almost exactly. All these scams use the same language because it works.