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Enoch8 Interview 12/22/2011

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Thursday, December 22, 2011

An Interview with Enoch8

I was privileged last week to conduct an interview with one of the good guys offering analysis on the IQD. I may not agree with everything he says, but I respect his views and his knowledge of the economics (wasn't about to try to debate him on that) and official documents and statements issued from Iraq. I especially appreciate his focus on true intel, meaning verifiable information rather than rumours or hearsay.

Sam I Am: Thanks so much for your time. You have been in the dinar community for several years and have earned a reputation as one of the best analysts of the economic aspects of the IQD. Tell us about your background in economics.

Enoch8: No formal degree in economics, but aced Econ 101 with a 4.0 grade average.

Enoch8: I have been a licensed contractor, a small time builder and developer in Arizona for most of my career, and come from a family of contractors, so well versed in business.

Enoch8: I have been in leadership roles as Arizona Area Coordinator in Public Information, to a very large non profit organization, (over 2 million members), holding numerous offices, and have worked with Intelligence and Research Teams on very large political groups, as a political activist.

Enoch8: I have served the Arizona Court System as an instructor, to a College Course for the Mohave County Court System, in my capacity as Arizona Area Coordinator for Public Information, Area Treatment Facilities and Area Correction Facilities Coordinator, leading to be invited by the Mohave Co Courts to instruct a class for their required courses as officers of the courts.

Enoch8: This was a volunteer position, not to be mistaken with a professional post.

Sam I Am: Have you ever made any money from a dinar related business or website?

Enoch8: No

Enoch8: Friends have paid me a small sum, to get dinar for them, but it was to cover expenses like gas, to pick it up, personally.

Sam I Am: And how did you come to invest in dinar?

Enoch8: I first heard about Dinar, listening to a radio talk show in April 2004, driving home from a weekend long Area Assembly, doing some of that volunteer work.

Enoch8: The show was called the "Collector's Coach" hosted by Jack DeAngelis.

Enoch8: I called into his show and got some dinar, then started making contacts on the internet and Ebay to get more Dinar.

Enoch8: He and I became great friends.

Enoch8: I drove to his studio when he was still in Costa Mesa and visited him at that studio.

Enoch8: Interesting man, for sure.

Sam I Am: How did you get started with dinar forums?

Enoch8: We have a neighbor who is a VP at Chase, who was sending me some emails, that her friends at the bank were getting excited about the news in Iraq.

Enoch8: One of our other friends who we introduced to Dinar, was calling me regularly, to tell me, he had been hearing a revaluation for over 1 Dollar was imminent, all through 2008, as the values were indeed increasing, that year.

Enoch8: So we signed up on 2 different forums and started reading posts and frequenting chats, etc.

Sam I Am: What is your opinion about the information being shared in these forums?

Enoch8: I have of course, always enjoyed the positive attitude in most all the forums.... and one cannot help but admire the energy.

Enoch8: As for the information, it seemed like there was always a promise of what seemed to me, to always be, RV in the next few days and at a rate, that seemed wildly beyond my expectations.

Enoch8: Not sure that answers your question....

Sam I Am: that's fine

Sam I Am: In your opinion what is the most that Iraq could support right now with a straight up RV?

Enoch8: OK..... it is a tricky question and might depend on some factors.

Enoch8: They can support whatever Exchange Rate they want. But that is not the issue.

Enoch8: The real issue and question should be, "How much buying power with the currency liability can Iraq support?"

Enoch8: Do they dedollarize? Yes? No?

Enoch8: How quickly can they institute a viable Primary Bond Market and how much real demand is there in the Secondary Markets?

Enoch8: These are critical to drawing down the circulation, in a manner of simplicity.

Enoch8: But it is not all that simple.

Enoch8: As to an exchange rate..... I have always held, that the Ministry of Planning did a Feasibility Study and literally told us their ideal Exchange Rates projected.

Enoch8: That was $1.13

Enoch8: Want more?

Sam I Am: sure

Enoch8: OK..... Al Saleh, one of the Deputy Governors of CBI, recently projected the possibility , in an example, he reported to the press, that they were considering $1.30 as an exchange Rate, in part of the CBI Plan.

Enoch8: Since, they have also told us, it would be as simple as a 1000 to 1 Redenomination, which would at today's rate would be $.86.

Enoch8: I think he was using that as an example.

Enoch8: My research added to and supported by other fantastic researchers, lead me to believe, that about $1.00 is very close to real feasibility, because Iraq, unlike Kuwait, for example, plans on becoming a stronger entity as an Emerging Market Economy, to exporting non oil goods.

Enoch8: That means they will need a lower Exchange Rate, to compete with other such exporters, than the larger rates of total oil export countries, like Kuwait.

Sam I Am: What would their money supply total need to be in order to achieve that?

Enoch8: It depends on whether or not they are increasing the value or just the exchange rate.

Enoch8: There is a huge difference, most of us either are not aware of, or just refuse to discuss.

Sam I Am: Are you saying it depends on whether they RV or lop?

Enoch8: OK.... that is a simple way to put it, so I want to be more specific to this as to understanding the difference.

Enoch8: How can I put this simply?

Enoch8: OK..... Increasing the exchange rate, also increases the value, as long as they do not demonetize the old currency, as is typically the case with a Redenomination as opposed to a simple change or increase in the rate of exchange.

Enoch8: By increasing the value, that means, the value of the entire money stock in print, increases.

Enoch8: In most redenominations, that is simply not the case.

Enoch8: Example:

Enoch8: Let us say, there are 30 trillion IQD in existence.

Enoch8: As stated by CBI.

Enoch8: At today's rate, that has a value, (Buying Power) or purchase power parity, of about $26 Billion US Dollars.

Enoch8: In a straight up Redenomination of 1000 to 1, the large base is demonetized to create only 1/1000th of the size of the circulation at 1000 times the exchange rate, which is still only valued at the same $26 Billion US.

Enoch8: So..... back to your question....

Enoch8: The value of the Money Supply, could be increased to as much as $30 Trillion US Dollars and that would get us to $1.00 to 1 IQD.

Enoch8: As we just discussed, the value at present is only $26 Billion..... so to be $1.00 in Revaluation, the supply would have to be valued at $30 Trillion, unless they remove a lot from circulation.... which creates a quandary.

Enoch8: What is removed..... STILL IN EFFECT,MUST BE COVERED by something of equitable value, before it can be removed from circulation, or it is not a revaluation but is merely a redenomination.

Enoch8: That means in a nut shell.... for us to be paid real money for our Dinar, it MUST Be COVERED in REAL VALUE or Consideration.

Enoch8: (Not to be confused with CBI paying for it with US Dollars or other money.)

Enoch8: They simply do not have it and it does not work that way.

Enoch8: But it still MUST BE COVERED with some form of consideration.

Enoch8: That is typically done with Bonds and Bills, etc. which removes the liability of circulation, but in fact converts non liquid asset into real tangible equity and liquidity.

Enoch8: This is where it gets complicated.

Enoch8: So I stop here for now.

Sam I Am: Okay

Sam I Am: So in your opinion what's the likelihood of an RV or an RD or a hybrid?

Sam I Am: 1/3 for each?

Enoch8: No, not equal chances at all.

Enoch8: CBI has submitted their proposal to GOI and they have been working on that in conjunction with MOP and Ministry of Finance, since about 2005, when CBI was charged by GOI to draft a plan.

Enoch8: That was submitted to Counsel of Ministers earlier this year, 2011 and was approved in about May, by the Ministers.

Enoch8: At that point it was stated it went to Parliament.

Enoch8: Now, here is something of interest as to why that is.

Enoch8: Apparently, in the proposal, there must be some form of GOI approval, my guess is to create a GOI Bonds program, beyond the authorization of CBI.

Enoch8: That tells me, it is likely, they intend to increase liquidity and the actual overall value of the money supply, which is good news for us.

Enoch8: This is supported by additional information, that in fact, there has been also a plan in the works since art least 2005, to pattern after Japan post WWII Gov. Bonds and Securities Markets.

Enoch8: That was reported earlier this year and last year, with some clear definitions and is also supported by Bank of International Settlements documents, as to how liquidity is raised by the Emerging Market Economies of the world, in real terms, with real examples.

Enoch8: I sent you those links.

Enoch8: They are pdf format

Sam I Am: right

Sam I Am: Do you believe that new, lower denom IQD were printed in 2003 and have been stored for eight years awaiting the RV?

Enoch8: No

Enoch8: The original printing was the US State Dept. involved... and did not have the since required 3 languages on them.

Enoch8: So they could not have been, or they would have 3 languages on the large ones as well.

Sam I Am: I've noticed that most of what you say can be backed by documents or statements coming from Iraq that are verifiable. What do you think about "intel"?

Enoch8: Verification of documents and cross referencing even articles and news reports with facts, IS Intel.

Enoch8: Unverified recon, is typically 80% disinformation or even intentionally planted misdirection, and is worthless, until it is cross referenced, researched and verified.

Enoch8: Most sources are subject to be fed false rumor as intel, much as the enemy on the battlefield plants misdirection and false data in troop movement and strength.

Enoch8: This is also true in real life, that most so called intel is mere conjecture at best.

Sam I Am: So a lot of the so called intel that we're hearing is disinformation coming from higher up?

Enoch8: In fact..... the point of origin of intel, as it goes..... the higher the sources.... the greater the likelihood of false intel or even high society gossip, is inevitable.

Sam I Am: Do you consider yourself a religious person?

Enoch8: Spiritual..... not a bit religious...... at least not on purpose.

Sam I Am: Do you believe that some people use religion to pump the dinar?

Enoch8: Well..... maybe not so much intentionally, but I would caution, that religion has been cover as a cloak to malicious intent, more often than we would like to believe.

Enoch8: Jones Town is a great example.... of people who were genuinely zealous about their faith.

Sam I Am: okay

Sam I Am: One last question ... Look into your crystal ball and tell us where we will be with this investment a year from now

Enoch8: 2 Parts..... 2 viable outcomes.

Enoch8: CBI gets the vote and we get a Redenomination, Jan. 1 2012.... or shortly thereafter..... with some form of increase in value of the circulation, with it possible we are allowed as high as a 1 to 1 redemption before it is demonetized, maybe only a 10 to1 or 100 to 1 allowance, at about $1.00 or thereabout.....

Enoch8: OR-

Enoch8: They do not get approval of this plan and CBI is forced to increase the value in small amounts throughout 2012 and they do it. Jan 2013.

Enoch8: I doubt seriously if they do this mid year for accounting purposes.

Enoch8: 95% or more of all researched countries who do a Redenomination, do so in the 1st 2 years of a new administration and also do so on about Jan 1st.

Enoch8: One side note, if you do not mind.....

Sam I Am: ok

Enoch8: The higher the new rate..... the greater the real likelihood of a lop. That is a fact.

Enoch8: The other option is so bad I do not want to talk about it.... because the only way we see over $3.00 is if we also see a total free fall of the US Dollar.

Sam I Am: So the predictions of a $3 - $8 RV?

Enoch8: No way, unless economic doomsday is tomorrow.

Sam I Am: okay, thanks again for your time and your take on the dinar

Enoch8: Any time, my friend.

Sam I Am: and you are definitely NOT a douchebag!

Enoch8: (whew)

Sam I Am: lol

Enoch8: Thank God! LMAO


D.C. said...Excellent interview....thanks so much for the info on your site!


AMF8 said...The rate will be $1.17, after they remove the three zeros. I didn't stay at a Holiday Inn last night, but I do have a PhD in Economics, have worked for one of the Federal Reserve Banks and The Bank of England. The current level is artificially supported and if allowed to float it would actually drop. I cannot tell you how absurd it is to think that within the next 50 years the Dinar will be (in current denominations) worth over a penny. Iraq is a poor country, better than 90% of their economy is selling natural resources, and that, oil, one that faces a very uncertain future. They can't increase production without affecting price, and they don't have anything else that the world markets want much and is not available elsewhere.

Take a look at the truly wealthy nations of the world, and what do they have in common? Economies based upon things made from natural resources and service businesses. Countries that have stable, predictable and functioning governments, military security and a history of stable property law.

Iraq, on the other hand, has a GDP of less than $2000 per capita (right up there with Bangladesh and Angola), a border with a superior and possibly hostile military power, a government that can't agree on days of the week and is very likely to fall within any given year and a one product economy that can be crippled by a small band of people with a few truckloads of TNT. A RV of he kind the gurus etc... are talking about is not quite as likely as UFOs landing on the White House Lawn.

Gullible fools, and the storytellers who have been scamming them for years, that's the Dinar World.

December 22, 2011

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PhD or 101 ace ....... Both are based on individual speculation.

thanks for the post.

True,but he does'nt state otherwise.Just offering his opinions to those that want to hear them,I got no problem with that. I can always ignore

Edited by caz1104

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This is the most straight forward explanatio/speculation of where we are currently at. Hope this is true.

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Not sure why someone -ed you, I got your back. Good read and like stated, it is an opinion only.

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True,but he does'nt state otherwise.Just offering his opinions to those that want to hear them,I got no problem with that. I can always ignore

Yes, your right......

We have such a varied opinion across the board ...and these opinions don't neccissarily fall inline according to ones particular education. That works both ways.........

BTW...... a scenario that bodes well for all the one for me! ;)

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Yes, your right......

We have such a varied opinion across the board ...and these opinions don't neccissarily fall inline according to ones particular education. That works both ways.........

BTW...... a scenario that bodes well for all the one for me! ;)


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I would have enjoyed it more if you had left out the supposed "financial nerd's" comment at the end. We see enough of that crap on here. Good article though. Thanks :)

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Sam I Am: So the predictions of a $3 - $8 RV?

Enoch8: No way, unless economic doomsday is tomorrow.

Unfortunately that is what "some" people want. The US must go down for The One World" to rise up. We shall see how this plays out.

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