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Google alert; How the US plans to make Trillions (EDITORIAL)

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Actually it is NOT a blog, it is from a WEALTH ANALYST and Investment Director, from Wealth Daily and this site has good ratings

Analyst, Wealth Daily

The Revaluation of the Iraqi Dinar

How the U.S. Plans to Make Trillions

By Greg McCoach

Friday, July 8th, 2011

U.S. national debt will exceed $14.5 trillion by the end of the summer.

The government has been underwater so long, it has gills...

But despite their desperate condition, the Feds still have a few tricks up their sleeve that will allow them to keep “kicking the can” down the road.

One of the gimmicks they've cooked up to stave the wolves off is becoming more and more evident: The revaluation of the Iraqi dinar.

The dinar collapsed after the United States invaded Iraq and toppled Saddam. Prior to U.S. invasion, the Iraqi currency was trading over USD3 to one Iraqi dinar on the strength of the country's massive oil industry.

After the collapse, the dinar was trading significantly lower. At one point, a single dollar purchased one thousand Iraqi dinar.

Speculators began to take positions in 2004 hoping someday, the dinar would recover and the UN economic sanctions would be lifted, allowing the currency to be revalued. Since then, there has been much speculation regarding how and when that would occur.

But here's the really interesting part...

The U.S. Government is the Largest Holder of Iraqi Dinar Outside of Iraq

Does that really come as a surprise?

The U.S. Treasury does not officially list the Iraqi dinar as part of the country's forex reserves.

New Iraqi Dinar

see detail of 50 dinar bill

However, the Treasure does say it did an initial currency swap with Iraq to fund their government and Ministries...

Exactly how many dinars were traded is not mentioned, but it does make reference to “billions of U.S. dollars” traded to Iraq.

About two months ago, Iraqi dinars could no longer be purchased; the recent Dodd Frank bill appears to have legislation related to the revaluation of a foreign currency and preventing mass hysteria.

From what I have been able to gather, it sounds like this plan was originally put together by George Bush, **** Cheney, Alan Greenspan, and others years ago as a way for the U.S.

government to be repaid (read: get kickbacks) for their efforts in Iraq.

Experts speculate the U.S. government received nearly 4 trillion Iraqi dinars at an exchange rate of 4,000 dinar to USD1.

If this is even close to true — and the UN allows Iraq to revalue their currency up to USD1: one Iraqi dinar — the U.S. government would stand to profit in trillions... as would anyone else who speculated on the dinar over the years.

Bush’s statement, “This is a war that will pay for itself,” will be true 10 times over.

Greg McCoach

Analyst, Wealth Daily

Investment Director, Mining Speculator and Insider Alert

Link: http://www.wealthdai...raqi-dinar/3145 try this link

This is at best an editorial and not a true "news" story

Edited by k98nights
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No Harry, this is not authenticated news. The author simply put this together based on what he has read. I has several errors in his article. One says two months ago dinar sales stopped. Two, the US govt has $4Trillion dinar. There is no proof of that whatsoever. Three, Bush said this will pay for the war. As we all know there is no proof of Bush ever saying that.

This is just some guy writing what he has heard. Nothing more.

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Quite interesting to say the least, and i dont put anything past our government.......especially George Bush. I do believe that our government is holding an considerably large amount of Iraqi Dinar. Thanks for the post

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