cabinetman Posted November 20, 2018 Report Share Posted November 20, 2018 Photo Illustration by The Daily Beast Trump supporter Hayes Kotseos runs a North Carolina pool-maintenance company, but she’s got a side bet that she thinks might make her fabulously wealthy: the Iraqi dinar. The currency is nearly worthless outside of Iraq, but Kotseos bought millions of dinars in April, after watching a video of President Trump at a 2017 press conference. In the clip, Trump says, with characteristic vagueness, that all currencies will soon “be on a level playing field.” In reality, Trump was talking about trade imbalances with China. But like other Trump supporters who have fallen into the dinar investment scam, which has existed since at least 2012, Kotseos interpreted Trump’s rambling statement as proof that the Iraqi dinar would soon be worth as much or even more than the dollar, making anyone who had been smart enough to buy in early a millionaire. “I love my president, and I was like, ‘Oh my God,’” Kotseos told The Daily Beast. The purchase, Kotseos said, cost her and her husband somewhere between $5,000 and $10,000, counting the cut to the company that sold them the dinars. Two of her adult children have bought millions more dinars, too. Like other investors in the incredibly long-shot dinar scheme, Kotseos hopes that Trump and the Iraqi government will somehow “revalue” or “RV” the currency, boosting its current value of less than $0.001 to $3 or $4. Dinar promoters have claimed that near-mythical event will occur for nearly a decade. But if it does it would theoretically make a millionaire of anyone with the foresight to put just a few thousand dollars into dinars. Related in Politics Speed Read: The 6 Most Batsh*t Bits as Trump Left for Paris So Just What Was That Melania Power Play About? New A.G. Used His Justice Bona Fides to Tout ‘Scam’ Business “If it happens, it’ll be awesome and there’ll be a huge party at my house,” Kotseos said. The rumored wealth surrounding the dinar dates back to its pre-Gulf War price, when each dinar was more than $3. But sanctions and years of war have pummeled its value to less than one-tenth of one U.S. penny. Unfortunately for American investors, the long-awaited “RV” never seems to come. The persistently low value has inspired warnings from state regulators and several indictments against dinar sellers accused of misleading investors about the currency’s prospects. But that hasn’t stopped dinar investors from buying and counting on the much-awaited “RV” to make them rich. While it’s difficult to measure how many Americans have invested in the dinar, court papers related to dinar scams often mention millions of dollars worth of dinar purchases. Dinar holders regularly tweet at Trump and various Iraqi government Twitter accounts, demanding to know when they’ll finally enact the “RV” that will let the money flow in. The dinar scam has become particularly Trump-centric since 2015, over rumors that Trump has personally invested in the dinar (there’s no evidence that he actually does). Search-engine searches related to Trump and the dinar have shot up, according to Google Trends, returning hoax articles claiming Trump has bought millions of dollars worth of dinars. Trump supporters like Kotseos have also been drawn in by videos showing the “prophecy” of Kim Clement, a South African “prophet” whose fans believe predicted Trump’s election. Before his death in 2016, Clement also often mentioned a dinar revaluation. “It was like, OK, well, God said the Iraqi dinar is going to revalue,” Kotseos told The Daily Beast. Jay Addison, an attorney who follows financial scams, watched for six years as dinar believers’ hopes for a revaluation failed to materialize. After writing a 2012 blog post about why the dinar was a bad investment, Addison heard from dinar investors who insisted the RV was about to occur. Six years later, it still hasn’t happened. Addison, who calls the hype around the dinar a “study in stupidity,” said he’s personally encountered dinar investors who were otherwise savvy in business but became entranced by the prospect of instant riches. “I’ve had a few clients fall for it,” Addison said. “They weren’t really the sharpest knives in the drawer.” It’s not that the revaluation is totally impossible, according to Addison. It’s that companies that sell dinars and dinar “gurus” vastly exaggerate the likelihood of a revaluation. “They’re basically told that it’s a sure thing. Nine out of 10,” Addison said. “When it’s actually one in a hundred billion.” Kotseos, like other dinar holders, have found support in dinar communities online. The investors, who call themselves “Dinarians,” gather on forums with names like Dinar Detective to dissect every news item for what, if anything, it could mean for their dinar. On another site, Dinar Vets, would-be posters have to verify or “dinar-ify” themselves by posting a picture of their dinars to prove that they are really committed to the cause. Other fans post dinar “unboxing” videos on YouTube, filming themselves as they open envelopes filled with the dinars they hope will make them wealthy. On Facebook, some dinar groups are devoted to praying for the dinar revaluation to come sooner. But the dinar-specific corners of the internet are also rife with manipulation. In October, the owners of a Georgia-based dinar reseller that made $600 million selling the dinar and other currencies were convicted of fraud for misleading investors about the dinar’s chances to gain value. Their scheme, according to prosecutors, included paying off a dinar “guru” to tell his fans in chat rooms and conference calls that he had high-level sources in American and Iraqi government and international financial institutions who were sure a revaluation was imminent. Dinar holders had what one of the accused sellers described as a “cult-like” devotion to their dinar guru’s news. But according to prosecutors, those government “sources” were entirely fictitious. The most devoted dinar investors tend to become obsessed with the minute details of Iraqi politics, convincing themselves that a new director of the Iraqi central bank or a particular infrastructure program in Nineveh is all that stands between them and millions of dollars. Kotseos herself has dived headfirst into the dinar internet, tweeting regularly about her RV theories. She’s also invested in the Vietnamese dong, a dinar rival that’s worth even less, and she has strong feelings about various Iraqi politicians. “With what’s going on in Iraq right now, everything is so hopeful,” Kotseos said. Kotseos also spends a portion of each day in a dinar chatroom, where dinar holders try to convince one another that their investment will eventually pay off. Instead, she tries to promote “hopium”—dinar-world slang for optimism about the currency. “Some people get a little negative,” said Kotseos, who also tweets about the pro-Trump QAnon conspiracy theory. “You’ve gotta squish it fast. We just support each other.” AND YOU THOUGHT PIZZAGATE WAS NUTS QAnon: The Craziest Theory of the Trump Era, Explained Will Sommer Kotseos said her family can afford to lose their dinar investments, if the currency never appreciates. But she’s convinced that she’ll be able to resell her dinar and at least recover a majority of her investment. Those prospects are actually somewhat unclear. Many resellers will only buy back a portion of the dinars they sell, and they tend to sell them at already inflated prices. But for now, Kotseos isn’t selling. She said she has seen ads offering to buy back dinar, but she ignores them. “You’re not getting my dinar,” Kotseos said. Will Sommer 2 2 5 Quote Link to comment Share on other sites More sharing options...
bostonangler Posted November 20, 2018 Report Share Posted November 20, 2018 Well, I've had mine since 2009 and it still has value... I have some stocks I wish I could say the same for them!!! LOL B/A 1 12 Quote Link to comment Share on other sites More sharing options...
md11fr8dawg Posted November 20, 2018 Report Share Posted November 20, 2018 Agreed BA, same here!! 1 1 Quote Link to comment Share on other sites More sharing options...
dinarbeleiver Posted November 20, 2018 Report Share Posted November 20, 2018 SCAM! SCAM! SCAM! ........ bang the RV happens (been looking for this sort of crappy propaganda) 3 2 1 8 Quote Link to comment Share on other sites More sharing options...
KDuesing Posted November 20, 2018 Report Share Posted November 20, 2018 If I were Iraq I would be p.o.'d if someone referred to my currency as a scam. Either way i'm holding onto mine at least until the day comes that I completely run out of toilet paper. 😁😁😁 1 3 7 Quote Link to comment Share on other sites More sharing options...
KDuesing Posted November 20, 2018 Report Share Posted November 20, 2018 Bring on the scam and lop articles ill print them up throw them on the floor and make snow angels with them. 3 2 4 Quote Link to comment Share on other sites More sharing options...
Half Crazy Runner Posted November 20, 2018 Report Share Posted November 20, 2018 I think this tells you everything you need to know about the author of that piece. He’s not exactly a financial guru ... WILL SOMMER Will Sommer is a tech reporter for The Daily Beast. He previously worked as a campaign editor at The Hill, and as a political columnist for Washington City Paper. 6 2 6 Quote Link to comment Share on other sites More sharing options...
Popular Post King Bean Posted November 20, 2018 Popular Post Report Share Posted November 20, 2018 (edited) Interesting how the article mentions only "Trump" supporters. As if Trump is leading the misinformation on IQD. No wonder todays MSN poll on citizen belief in news sources says 63% distrust the media outlets. So all you democrats who supported Hilarious and O-blaba, please bundle your dinar and send it to me. There will be no hard feelings. LOL. People still neglect to remember the SIGIR report to US Congress in 2012 that stated the IQD would quickly climb back to a value nearing $1.17 USD. Edited November 20, 2018 by King Bean 1 4 1 15 1 Quote Link to comment Share on other sites More sharing options...
ezrapound Posted November 20, 2018 Report Share Posted November 20, 2018 I have had mine since '05. Believed in it then and still do. As with anything one wants to mention, there are believers and nonbelievers. Make your choice. After all these years, I really do think ( and hope of course) that it has been long enough for something to happen. Still in the camp of about 1.20 to 1. 1 1 Quote Link to comment Share on other sites More sharing options...
King Bean Posted November 20, 2018 Report Share Posted November 20, 2018 1 hour ago, bostonangler said: I have some stocks I wish I could say the same for.... Same here BA. IQD remains stable, not so for my cryptos that have LOST 75%. Think I will hold the IQD. 1 6 Quote Link to comment Share on other sites More sharing options...
Floridian Posted November 20, 2018 Report Share Posted November 20, 2018 I got a kick out of this statement - 😂 “I’ve had a few clients fall for it,” Addison said. “They weren’t really the sharpest knives in the drawer.” 1 1 2 Quote Link to comment Share on other sites More sharing options...
King Bean Posted November 20, 2018 Report Share Posted November 20, 2018 1 hour ago, cabinetman said: “I’ve had a few clients fall for it,” Addison said. “They weren’t really the sharpest knives in the drawer.” Oh boy, I hope Coorslite21 doesn't see this and take offense. (see rumors section). Got your back CL !! 2 2 Quote Link to comment Share on other sites More sharing options...
Floridian Posted November 20, 2018 Report Share Posted November 20, 2018 9 minutes ago, King Bean said: Oh boy, I hope Coorslite21 doesn't see this and take offense. (see rumors section). Got your back CL !! You're right, KB. He's a pretty sharp guy. 😀 3 Quote Link to comment Share on other sites More sharing options...
Artitech Posted November 20, 2018 Report Share Posted November 20, 2018 Been in since 2010, Im riding this horse till it dies or I do which ever comes first!! 1 3 Quote Link to comment Share on other sites More sharing options...
Officiallytook Posted November 20, 2018 Report Share Posted November 20, 2018 1 hour ago, dinarbeleiver said: SCAM! SCAM! SCAM! ........ bang the RV happens (been looking for this sort of crappy propaganda) Me too too much good news is bad news....but when you throw these types in the mix should be a lot more too, a bunch of scam articles come up when you search about this crapshoot ... 2 Quote Link to comment Share on other sites More sharing options...
juliebug Posted November 20, 2018 Report Share Posted November 20, 2018 I call FAKE NEWS! 2 2 2 Quote Link to comment Share on other sites More sharing options...
NEPatriotsFan1 Posted November 20, 2018 Report Share Posted November 20, 2018 Now there is a flurry of propaganda on both sides of the pond we might be closer than we think! 7 Quote Link to comment Share on other sites More sharing options...
dinarbeleiver Posted November 20, 2018 Report Share Posted November 20, 2018 13 minutes ago, NEPatriotsFan1 said: Now there is a flurry of propaganda on both sides of the pond we might be closer than we think! I’m not holding my breath but you might be right 1 Quote Link to comment Share on other sites More sharing options...
Half Crazy Runner Posted November 20, 2018 Report Share Posted November 20, 2018 2 hours ago, King Bean said: Interesting how the article mentions only "Trump" supporters. As if Trump is leading the misinformation on IQD. EXACTLY! This guy is just a political hack/derp looking for a new angle to slam Trump on. 1 5 Quote Link to comment Share on other sites More sharing options...
Karsten Posted November 20, 2018 Report Share Posted November 20, 2018 Like most here I have been in this long before POTUS Trump even thought about running in 2016....I think is was even in the middle of obama's 1st term..... Heck I have a box of 1911 parts ordered long before obama's 2nd term.....I suppose that is POTUS Trumps fault as well. Karsten 2 1 Quote Link to comment Share on other sites More sharing options...
aitshioud Posted November 20, 2018 Report Share Posted November 20, 2018 bought mine at parity to the USD so far my CAD is down 30c or so. dinar has done better than the canadian dollar to hold value lol 1 Quote Link to comment Share on other sites More sharing options...
justchecking123 Posted November 20, 2018 Report Share Posted November 20, 2018 "...sanctions and years of war have pummeled its value to less than one-tenth of one U.S. penny." I thought Bush, Cheney and his cronies did some de-pegging deal with the PTB... The Daily Beast is an Anti-Trump online site. Carry on... 1 2 4 1 Quote Link to comment Share on other sites More sharing options...
3n1 Posted November 20, 2018 Report Share Posted November 20, 2018 and all this time I thought it was " W " that started the iqd brigade ... MAKE IQD GREAT AGAIN 4 Quote Link to comment Share on other sites More sharing options...
Pitcher Posted November 20, 2018 Report Share Posted November 20, 2018 Why even put a BS article like that out. It’s a scam, go sell yours now!!!! Why would any of us do that after holding for over 10 years. 5 Quote Link to comment Share on other sites More sharing options...
dinarham Posted November 20, 2018 Report Share Posted November 20, 2018 Presidental Order in 2003 allowed US citizens to buy dinar . If anyone is scamming it's Bush and the US government , not likely 4 Quote Link to comment Share on other sites More sharing options...
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