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Author Archives: Marcus Curtis

About Marcus Curtis

Marcus Curtis has been playing guitar since the age of 14. For more information about Marcus Curtis and his music visit him at marcuscurtismusic.com

Trials For Dinar Holders

ISIS Leader

People have not always agreed with my analysis and that is OK. Everyone is entitled to their own opinion. There have been several things that I have been saying over the last 2 years that cause many dinar investors to doubt my opinion. But I would like to rehash a few points and put those points in a present day scenario.

I have always said that there is more currency outside of Iraq’s borders then in its borders. Iraq only has about 5 trillion dinar inside the country today. That would mean that there is a lot of excess currency presently outside the border of Iraq today. I calculated a figure of 25 trillion. I was using the difference in the currency supply going back to 2005/2006. This was a very conservative number and I gave a conservative number on purpose. In my mind I knew there was more but I would proclaim that there is at least 25 trillion dinar outside of Iraq in my posts/articles. People thought I was crazy.

The other part of the Puzzle is simply this. When dinar leaves the country it is exchanged for U.S. Dollars. This action brings U.S. dollars into Iraq as the dinar leaves. So using very rough numbers 25 trillion dinar is about 25 billion U.S. dollars. That money goes into the central bank’s reserves and it is used to back the dinar. So as the reserves grow the dinar currency supply also grows. The more dinar Iraq exports the more dollars come in and this means more dinar goes into circulation to cover the gap that the exported dinar made. This has become a vicious circle and no Guru has been able to explain it.

Yet another part of this puzzle is Iraq’s currency laws. I have pointed out several times that in section 32 of Iraq’s currency laws it is illegal to export their currency outside of Iraq and that the dinar can only be used within Iraq itself. Now this is a law they do not enforce because to do so would stop the flow of U.S. dollars into Iraq’s reserve supply!

The last part of the puzzle is the redenomination that Iraq may do one day. If it happens then Iraq will not honor the currency (25 trillion) that is outside of its borders. They will only honor the money within its borders. Iraq will cite its currency laws as the reason for doing this. They will say they have every right to do this.There are no international treaties with Iraq that protects investors should the dinar redenominate. I presented links with facts throughout this site. Basically this means that Iraq will be able to keep every U.S. dollar it imported into its reserves and the central bank has a large amount of imported U.S. dollars.

I have been saying this for the last 2 years. I have said that this scam goes all the way to the top. Now I am going to sound really crazy. I would ask that you read this entire post to the end and click on the links for they will be very important in my conclusions.

I believe the Iraqi government knew all along (ever since 2004) that they were scamming the poorest of American people out of their hard earned money with the false promise of wealth. I think the highest level of government in Iraq and the central bank had this planned all along! I think they are the ones who actually set this whole thing up to begin with! I even suspect that they had help from the Coalition Provisional Authority or CPA! This is just my opinion but in my view this is the only thing that makes sense to me given Iraq’s history. These guys at the very top and at the planing stages of the new Iraqi government set this up! This explains why America has done nothing to stop this scam! Now let me show you something. Read this article from Forbes

The Dinar’s Dismal Future: Sell Now

http://www.forbes.com/sites/johnwasik/2014/07/28/the-dinars-dismal-future-sell-now/

Let me provide just two quotes

“Iraq is basically enmeshed in a brutal civil war without any cohesive social fabric to pull it back together. Except for some military advisers, the U.S. and Western powers are staying out of the country”.

“Although no regulator knows how many investors hold the dinar, Prof. Bunting estimates “that there are around 40 trillion Dinar in circulation and only about 5 trillion actually reside in Iraq so the rest is held by dinar speculators around the world”.

This means that there is much more than 25 trillion dinar outside of the borders of Iraq. According to this article there is now about 35 trillion dinar that is now outside Iraq’s border. That also means that this added well over 35 billion to Iraqi Central Bank’s reserves and this money came from people all over the world. I am willing to bet that some of the poorest of Americans sent Iraq Billions when they collectively purchased dinar from dealers.

My numbers were conservative because I did not want to overstate my case. I wanted to be as factual as I could without exaggerating numbers. But now it seems that something more serious is on the horizon. As stated by the article above, Iraq is dealing with civil war and Iraq has another serious problem too!

Syria Iraq: The Islamic State militant group

“Under its former name Islamic State in Iraq and the Levant (Isis), it was formed in April 2013, growing out of al-Qaeda in Iraq (AQI).”

“Its precise size is unclear but it is thought to include thousands of fighters, including many foreign jihadists.”

“The US said the fall of Iraq’s second city posed a threat to the entire region. It may also have made ISIS the most cash-rich militant group in the world”

“Initially, the group relied on donations from wealthy individuals in Gulf Arab states, particularly Kuwait and Saudi Arabia, who supported its fight against President Bashar al-Assad.

Today, IS is said to earn significant amounts from the oil fields it controls in eastern Syria, reportedly selling some of the supply back to the Syrian government. It is also believed to have been selling looted antiquities from historical sites.”

http://www.bbc.com/news/world-middle-east-24179084

Remember I said earlier if Iraq redenominates? I think the current Iraqi government has planned to redenominate all along. But if the government falls then what happens to the currency? What happens if Iraq is torn apart by civil war? Here is a worst case scenario.

What happens if ISIS over takes the CBI and Gains access to their reserves? What kind of weapons could they fund with the 35 billion that everyone around the world sent Iraq because they were deceived into believing that they were going to be rich if they bought dinar?

These are interesting questions. What happens to the dinar if the government falls or if it gets divided up into sections? it may very well be that the Kurds have one region of the country and the rest is divided among Islamic factions. However if Iraq gets divided up the real question is who gets the reserves that are left over in the central bank when the current government collapses? If ISIS does gain control of the central bank it will have new found wealth to fund its war machine.

There is one last component to all of this. The dinar is exported and sold around the world even though Iraq says it is illegal to do this. Third world nations and the poorest of people have been robbed by Iraq! There are people in these countries that make so little that a major investor in this country may only be able to get one 25,000 note. Some may have One 10,000 note or even one 1,000 note.

This means that there are millions of people around the world that purchased dinar.When this thing collapses (and it will collapse) poor people who invested in the dinar around the world will be devastated. So while this country proceeds with their quest of ripping off the poorest of people around the world there are major uprisings within the nation of Iraq! This creates several scenarios that could play out.

Iraq could redenominate and make all of the currency outside of its borders null and void. Iraq could fall and the government could be divided in approximately three different ways. ISIS could gain complete control over the region and raid the reserves. I highly doubt that ISIS will have any regard for dinar investors around the world. It amazes me that people still choose to believe in this scam in light of all the evidence. The Middle East is becoming more and more dangerous. This is not a good place to invest your money!

 

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There NEVER was a Kuwaiti Revalue

That’s the truth! There NEVER was a Kuwaiti revalue. In my last post I went into detail as to why. This was a response to an article I read on Mr. IQD’s site. I finally got a response from Mr. IQD 2 days later after I commented on his site. I just want to make some corrections in his assumptions about my motives. I am posting from his response here in this article because he has banned me from his site.

http://mriqd.com/2014/06/30/eureka-ny-times-article-confirms-kuwaits-1991-iqd-rv/

Mr. IQD “Marcus – thanks for your post – but I have decided to not approve it. I do believe that the Iraqi Dinar will eventually increase significantly in value.”

Just for the record I don’t fault you for believing the pipe dream about the Iraqi dinar revalue. You have every right to believe whatever you want.

Mr. IQD Also, I’m deleting your post because I don’t appreciate the scathing remarks you made about me and my website on another blog.

Scathing remarks? What scathing remarks?! You obviously don’t know me very well because you really have no idea how scathing my remarks can actually be. This is what I actually said.

“Now this comment is gone. For some reason it vanished. So allow me to elaborate a little more. I bought Iraqi dinar based on a lot of lies that I believed.”

Notice that I am addressing the fact that there was never a Kuwaiti Revalue not that the comment did not post. You call that scathing?

MR IQD “YOUR STATEMENT THAT YOUR POST SUDDENLY ‘VANISHED’ AFTER YOU WROTE THEM IS INCORRECT AND A FLAT-OUT LIE!!!

All comments on MrIQD.com are ALWAYS “Held for Moderation” by everyone who posts on my site.”

When I posted the comment it was listed in the comment section after I sent it. I read through the whole comment after I sent it off and it was posted as an approved comment. I then refreshed the page that your article was on and my comment was still there. I did not know if you held comments for moderation but there was no “this comment is held for moderation” notice that typically appears when comments are indeed held for moderation.

Please understand I am not calling you a liar. If anything I thought it was a system glitch. The reason for my post was not to address the missing comment. It was to address the things you wrote about. There were gross misinterpretations in your post about the New York Times article. This was not an attempt to straighten out your thinking or your belief system.

When you provided wrong information that said there was a Kuwaiti Revalue I knew that would come up in the search engine. A person who knows nothing about the dinar may do a search and find your post. A person with no currency background may very well believe your post. That same person may purchase dinar based on a total BULL-CRAP belief in a Kuwaiti Revalue. I know this was the number one selling point with me. After I found out the truth I was upset with this lie. So this is a pet peeve to say the least. I was writing that post to would be dinar investors to serve as a warning and nothing more. It was not directed towards you and it was definitely not scathing.

Mr. IQD Therefore, your comments never posted in the first place, to then “vanish” later as you said.

Fair enough. Like I said maybe it was a system glitch of some sort. I don’t know why your article page showed my comment as posted. Maybe it was some bug in the system software. Not really sure.

Mr IQD I have approved your comments many times in the past, and they are still up for anyone to read – but now you will no longer be approved for ANY COMMENT you make on my site.

This is true you have approved my comments in the past. And you even disagreed with some of the things I wrote. Since I cannot reply directly on your site I decided to speak to you through this post. I know your reading this. I just want to thank you for your loyal support!

Mr. IQD What you did by blogging your immature hate comments about me and my site shows the Dinar Community that you are more like a spoiled child who always insists on getting his way!

Well, little child – you won’t get your way here anymore by throwing temper-tantrums!

Immature hate comments? Do you mean like most of your posts about Gurus? This coming from a guy who posts rants on a regular basis. You should notice that I did not resort to calling you names as you have now just done. I find that people tend to start name calling and leaving civil debate behind when they cannot address the facts. There were no hate comments in my post and for the record I don’t hate you.

I read your site because of the way you called out Tony TNT and other Gurus. I knew you still believed in this scam of an investment. But I always believed you were at least fair and sincere.

OH NO! what ever shall I do with all my free time? Mr. IQD won’t let me comment on his site anymore. Life is just not worth living anymore….No one likes being the one that tells little kids that there is no such thing as Santa Clause! This time it really cost me. What ever shall I do? Excuse my sarcasm.

OK let us get real. Your belief in the revalue of the Iraqi dinar is based on crappy speculation which comes from reading between the lines and putting meaning in news articles that is not even there. Banning me instead of discussing the facts put you on the same level of all the other Gurus you tend to criticize. This looks like hypocrisy to me. The only real ratings you got on your site was due to the fact that you went after the extreme gurus that were lying through their teeth. There is no doubt in my mind that you are sincere, but if you think you will ever make any money from this worthless paper then you are sincerely wrong and sadly mistaken.

I know that in your case it is ok if you lost everything you invested. You won’t feel the same pain that a lot of people feel because they over leveraged and sold everything they have to buy dinar. The reason people do this is because they hear Bull-Crap stories like the Kuwaiti Revalue hype and they begin to look at this investment as a sure thing. I don’t hate you. I never did. I feel sorry for you.

I will tell you what I am going to do. I will leave this open and I will not ban you as you have done me. If you feel like you want to post a comment and express the reason for your beliefs feel free to do so here. Your comments will not go into moderation. They will be posted right away. MR. IQD I believe we can have a civil discussion. The ball is now in your court!

 

 

 

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The Kuwaiti Dinar NEVER Revalued!

Earlier today I received an email from Baghdad Invest. He left a link to an article written by Mr. IQD. After reading Mr. IQDs article I Just had to leave a comment. I came back later in the day only to find that the comment had vanished. It is missing! I don’t know what happened but I now feel a need to respond to this in an effort to set the record straight.

Mr. IQD posted an old article he found through a person who goes by the name “MyDigitalDr” Mr. IQD makes the claim that this article validates and confirms that Kuwait did indeed revalue their currency. The link to the article is found here.

http://www.nytimes.com/1991/03/25/world/after-the-war-no-electricity-but-kuwait-reopens-its-banks.html

Here are is a small part that was quoted by Mr. IQD

All other old dinars can be exchanged for new ones on a one-to-one rate until May 7, when the old dinars become invalid. The new official exchange rate is 3.47 American dollars for one new Kuwaiti dinar.

Mr. IQD goes on to say the following.

Now you can know with CERTAINTY that Kuwait did in fact “RV” their Currency for 3.47 KWD to $1.00 USD – and friends I’ve been searching for this fact based article for years, and poof, out of the blue, “MyDigitalDr” on LJ’s Board found it and posted it.  So, thanks to you, whoever you are.  Also, thanks to the NY Times for including it in their Archives – that is really awesome!

To those out there who claim that it is just not “possible” for Iraq’s Central Bank to “RV” the IQD because it has “never been done before” – THEN TELL THEM TO READ THIS NEW YORK TIMES ARTICLE, AND SEE HOW THEY RESPOND!!!…

http://mriqd.com/2014/06/30/eureka-ny-times-article-confirms-kuwaits-1991-iqd-rv/

Well I left a response in the form of a comment and it was rather long. I made every effort to be polite. I came back later and found that my comment was no longer there. So I will now include my original comment

The Kuwait RV was one of the reasons I invested in the dinar in the first place. It was articles like this that caused me to have confidence in my investment. On the surface this does look like an RV. But the fact remains that Kuwait never revalued their currency. Kuwait redenominated their currency. What is an RV? It is a policy decision from the central bank to change the value of its currency. It can only happen to pegged currencies. This is because the market determines the value for all those currencies that float. This is the standard definition of an RV.

The Kuwaiti Central Bank NEVER adjusted the rate of the dinar. The rate plummeted when Saddam invaded the country and took over the central bank. Everyone was instructed to trade the Kuwait dinar for Iraqi dinar in October of that same year. Speculation drove the price down. Once Iraq was kicked out of Kuwait it took 7 months to get the country up and running again. They had to put out fires because the oil wells were set ablaze. The value of the Kuwaiti dinar was reestablished after Iraq left. The Kuwaiti central bank redenominated the currency because Saddam left with a lot of Kuwaiti dinar. But in the exchange there was no change in value.!

Even Wikipedia acknowledges that this was a redenomination and not a revalue. This scenario is a lot different then what gurus say is going to happen to the dinar. The claim is the dinar will revalue which is due to a policy decision. That is not what happened in Kuwait. The Kuwaiti dinars change in value was due to speculation in the currency itself. It is nothing the central bank controlled. When the country was invaded the value fell because no one new Kuwait’s future. When Kuwait recovered the value came back. The central bank had nothing to do with the change in value! It was perception of a fiat currency and the fact that people lost faith in the Kuwaiti dinar that changed its value.

So there was never a Kuwaiti revalue! And given the very definition of revalue it has never happened before on the scale of what people expect from the dinar. There has never been a revalue over 50 percent.

We need to also consider that Iraq has over 34 trillion dinar in circulation. The dinar is backed by U.S. dollars. They don’t have enough dollars in their reserves to back any kind of significant revalue. Given the fact that there is only around 12 trillion U.S. dollars in America’s M2 money supply it is highly unlikely that Iraq will ever get enough reserves to revalue to any significant level

At least 28 trillion of the Iraqi dinar in circulation today is outside of Iraq’s border. When dinar is exported it is exchanged for US dollars. That money goes straight into their reserves. I agree that Iraq will take the path of Kuwait. They will redenominate their currency. When they do this they will not honor the currency outside of their border and they will cite their currency laws as the reason. Then they get to keep all of that reserve that was collected over the years due to the export of their currency.

Now this comment is gone. For some reason It vanished. So allow me to elaborate a little more. I bought Iraqi dinar based on a lot of lies that I believed. I fell for it hook line and sinker and at the time I knew nothing about how currencies actually worked. I spent 4 years researching economics after I purchased dinar.

Two years after my purchase I am researching economics and I discovered that there was never a Kuwaiti Revalue. In fact I began to research the other lies I was told only to find out that nothing that I was told was even true! That is when I decided to sell my dinar and I started posting the truth about this fraudulent so-called investment on my blog. I spent about two years posting the facts instead of make believe wishful thinking. So now let’s go a little deeper.

The paragraph in question is this one

All other old dinars can be exchanged for new ones on a one-to-one rate until May 7, when the old dinars become invalid. The new official exchange rate is 3.47 American dollars for one new Kuwaiti dinar.

Notice that they are changing out an old currency for a new currency. This is a redenomination it is not a revalue. Revalues are slight adjustments in the value of currency and they only happen to pegged currencies to combat inflation. Now notice these two paragraphs from the New York Times article.

The Central Bank is canceling the value of Kuwaiti dinars that were seized from the Central Bank and put into circulation by the Iraqis. The invalid serial numbers were posted today in front of all banks in the city.

All other old dinars can be exchanged for new ones on a one-to-one rate until May 7, when the old dinars become invalid. The new official exchange rate is 3.47 American dollars for one new Kuwaiti dinar.

So all the dinar was exchanged with no change in value! One old Kuwaiti dinar was equal to one new Kuwaiti dinar! Wikipedia says,

The third series was issued on 20 February 1980, after the accession to the throne of Emir Jaber al-Ahmad al-Jaber al-Sabah, at that time in denominations of 1⁄4, 1⁄2, 1, 5 and 10 dinar. A 20 dinar banknote was introduced on 9 February 1986. As a result of the state of emergency after Iraq’s invasion of Kuwait, this series was ruled invalid with effect from 30 September 1991. Significant quantities of these notes were stolen by Iraqi forces and some have appeared on the international numismatic market.

http://en.wikipedia.org/wiki/Kuwaiti_dinar

So the fourth series was introduced with no change in value! The same denominations were issued in a new series. This is because Saddam had stolen a lot of Kuwaiti dinar. That was the reason for the redenomination. So let’s recap the actual events

  • 1. Saddam’s forces invade Kuwait and they over run the country.
  • 2. While some people were captured a lot of people flee taking with them as much money as possible (Kuwaiti dinar)
  • 3. Because Saddam’s forces occupy Kuwait the value of their currency begins to fall. Those outside Kuwait exchange dinar for a lower rate.
  • 4, In October of that same year Saddam makes the Kuwaiti dinar illegal and he orders that all Kuwaiti dinar must be exchanged for Iraqi dinar. He pegs the Kuwaiti dinar to the Iraqi dinar. As a result the Kuwaiti dinar which is still in circulation falls to its lowest level.
  • 5. American forces liberate Kuwait. When Saddam’s forces leave they take a lot of Kuwaiti dinar with them. This dinar was stolen from the Kuwaiti Central bank.
  • 6. The Kuwaiti government is put back in power and the Kuwaiti dinar is restored to its original price before the central bank was shut down because of Iraqi troops.
  • 7. There was a redenomination for the sole purpose of invalidating the entire dinar supply that was stolen from Kuwait. The important point is when the redenomination occurred there was no change in value. The old dinar was worth just as much as the new dinar. Here are two more articles to go with the New York Times Article.

http://articles.latimes.com/1990-09-25/news/mn-1116_1_kuwaiti-dinar

http://articles.latimes.com/1991-03-24/news/mn-1395_1_kuwaiti-banks

This is a lot different then what people are claiming the Iraqi dinar is going to do! Gurus claim that a policy decision made by the central bank will raise the value of the over 70 trillion dinar anywhere from 100,000 to 400,000 percent. And this has never happened before! This is not what happened in Kuwait! It will not happen for obvious reasons. First the amount of hyperinflation that will come from a move like this will destroy the currency. Second nations want to have the lowest currency because it helps them with exports which strengthens their economy and provides jobs.

So if this post came up during a Google search and you friends are trying to tell you to buy dinar or you are new to the dinar world, I am providing this warning for your benefit. Run away from this so-called investment! There is nothing but hype and rumor that is repeated over and over again just to sell this worthless paper.

If you still believe the dinar will revalue after reading the articles I posted or watching events like ISIS unfold in Iraq then for one last time I appeal to your common sense. It is time to set aside all the lies and seek out the truth. Wishful thinking is not going to make you rich. Denying facts won’t help you get the things in life you want. Pipe dreams filled with hype have no chance of coming true. It is high time to face reality and set aside the foolish notion that over 70 trillion dinar is magically going to be worth anywhere from 70 trillion to 280 trillion U.S. dollars. I know what I am saying is not popular and it is not what dinar investors want to hear. But God as my witness, I am speaking the truth! ultimately it is the truth that will set you free!

 

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Dinar Recap

I know it has been a while since I wrote an article for this site. I have been busy going through my other site on global economics. The site I am referring to is BVAWE. I have been fixing links that no longer work. I have been replacing pictures that had an expired URL and in its place was a void blank empty box. I have been fixing videos that no longer play and adding new videos that are very good and add to the collection I have up there already. Given the size of the site it has been a tremendous undertaking.

Some of those articles use to be on Iraq Currency Watch. (IRC) When I closed down ICR I moved them over there. When I opened up Iraq Currency Watch once again I left them alone. I did not move them back. BVAWE was in need of major maintenance and now that work is completed. I did not change the content of the articles. I just updated everything.

Now I want to recap and review some of the things I wrote about in this last quarter concerning the dinar. I just want to talk briefly about some points and maybe make a few new ones. I just want to briefly share some observations.

In the last two articles I took on the global currency reset theory. We exposed some of the problems with this theory. It has some of it’s origins in NESARA. The reset ideas are identical to NESARA. In addition this GCR theory seems to take advantage of global ideas and changes that are being considered and it is blending these ideas with the reset propaganda. This seems to give this theory some legitimacy on the surface. In the end it won’t increase the value of the dinar. People who know little about economics seem to fall for the GCR when they see articles about SDR’s and articles about replacing the dollar. So I want to briefly cover what happened globally and how we got to this point.

For a few decades the United States went into a banking deregulation phase. It all started in the 80’s with the savings and loans institutions. Some of these regulations were put in place after the Great Depression. These regulations were meant as a safe guard to protect us from another Great Depression. The last bit of regulation vanished with The Commodity Futures Modernization Act. This was signed into law by bill Clinton. It was one of the things that paved the way for the housing crisis and the 2008 melt down.

In 2008 everything came to a head. By the time the dust cleared 50 million people fell below the poverty line and 30 million people were unemployed. Millions of dollars in wealth just vanished in thin air partly because in our monetary system debt is monetized. This had a global impact. This means that when this crash hit in it’s full force the amount of currency that was in circulation fell because debt was being removed from the books due to bankruptcies and debt cancellations.

Some wealth was also lost due to perceived values in the housing market. This also had major global impact. To make matters worse the United States now had a struggling economy and some sort of recovery was now needed. So over time the interest rates were lowered and we went into something called Quantitative Easing. (Q.E.)

The Federal Reserve started buying $600 billion in mortgage-backed securities, but by March 2009 it held $1.75 trillion of bank debt and mortgage-backed securities. It acquired this debt by printing more money and purchasing the securities. The Federal Reserve started to print money and this began to make up for the amount that was lost due to debt monetization. This also had the added impact at the start of Q.E. of lowering the dollar’s value. So the amount of currency lost due to a contraction in Fractional Reserve Banking was being made up by expanding the base money supply.

http://en.wikipedia.org/wiki/Quantitative_easing

This in turn made nations like China, Russia, India, and Brazil mad at the U.S. because as our dollar decreases in value it levels the playing field and lowers the price for the U.S. to exports goods. At the same time it raises the export costs for nations like China. America’s imports cost more because of this. The cost to export goods was beginning to rise in other countries and as a result the currency wars began. These nations would lose some of their export advantage. This was the strength of their economy. Their economies already took a beating in 2008 due to the global impact of the melt down and now the U.S. was increasing their currency supply.

So as a result China begins to call for a new reserve currency to replace the dollar. The only problem with this plan seems to be at this point there was nothing out there that could replace the dollar. As the New York Times points out,

“The world is trapped into buying dollars because the United States market is big, liquid and reliable as a safe haven. And America is trapped in an addiction to cheap credit, with foreign demand for the dollar allowing the nation to spend well beyond its means.”

http://economix.blogs.nytimes.com/2014/03/26/qa-why-the-dollar-remains-the-reserve-currency/?_php=true&_type=blogs&_r=0

This article also points out

“Moreover, the U.S. racked up a lot of government debt and the Fed began flooding the global financial system with dollars. The more dollars there are out there, the less value they should have. But the exact opposite happened. The dollar, if anything, gained slightly in value.

Contrary to all expectations, the U.S. dollar’s position as the world’s dominant reserve currency has been strengthened by the crisis. The world became even more dependent on the dollar than it had been before the crisis.”

This happened during a time when the euro had it’s own problems. The truth is there are no good alternatives to the dollar! China still insists that the worlds reserve still needs to change and that it should no longer be the dollar.

http://economix.blogs.nytimes.com/2014/03/26/qa-why-the-dollar-remains-the-reserve-currency/?_php=true&_type=blogs&_r=0

Now a call has emerged to use the International monetary fund’s Special drawing rights or SDR’s as the new international currency. You can think of SDRs as an artificial currency used by the IMF and defined as a “basket of national currencies”. SDRs are allocated by the IMF to its member countries and are backed by the full faith and credit of the member countries’ governments. The IMF uses SDRs for internal accounting purposes.

An SDR is an international type of monetary reserve currency that was created by the International Monetary Fund in 1969. It’s purpose is to operate as a supplement to the existing reserves of member countries. It was created in response to concerns about the limitations of gold and dollars as the sole means of settling international accounts under Bretton Woods. SDRs are designed to augment international liquidity by supplementing the standard reserve currencies. Now there is debate as to whether or not SDR’s should replace the U.S. dollar.

http://www.federalist-debate.org/index.php/component/k2/item/115-the-debate-about-the-sdr-as-a-global-reserve-currency-and-sdr-denominated-securities

Now all of these events have become mixed with speculation and wild conspiracy theories that say the dollar is going to crash overnight and that the IMF is calling for a NESARA like Global Currency Reset. Lyndsey Williams has claimed that this GCR event would be announced sometime during the first quarter of 2014. Well I am writing this on April 2nd and there has been no announcement of said event. Here is Lyndsey’s prediction

Gold and silver sellers/gurus have jumped on this by hyping a crash in the dollar and they have been urging people to buy Gold and Silver as a hedge of protection. The date for this overnight crash has been moved to the end of June 2014. When that time arrives or gets close the date will move again. Dinar gurus have taken this a step further by saying that the so-called GCR will bring a revalue of currencies like the dinar and dong when the dollar finally crashes overnight.

So can you see why it is hard to separate fact from fiction? After all China is really calling for a replacement to the U.S. dollar. I hope you can see why people get confused about what parts of this whole conspiracy are real. So let’s cover some things. I know I said some of this in the past but it bares repeating.

The first observation people make is that the U.S. got in this mess by over printing their currency. If that is indeed the case then another over printed currency is not going to replace the dollar. Here are the amount of currencies some of these nations have. China – 110 trillion Yuan, Russia – 29 trillion Ruble, India – 20 trillion Rupee, Vietnam – 3,519 trillion Dong, Euro zone – 9.2 trillion Euro. Now compare that with the U.S. dollar which is 11 Trillion. (M2)

Can someone please tell me why these other countries with over inflated currencies will replace the dollar? After all they seem to have the same problem finding the off switch to their printer! The truth is the dollar has gained strength since the 2008 meltdown and everyone has expected the exact opposite! Check the link below.

http://www.forbes.com/sites/billconerly/2013/10/25/future-of-the-dollar-as-world-reserve-currency/

It won’t be easy replacing the dollar around the world. Right now there are several countries where the U.S. dollar is the official currency of that nation. Some of these countries are The Bahamas, Belize, Bermuda, Cambodia, Cayman Islands, East Timor, (tiny island country between Indonesia and Darwin Australia) Ecuador, Federated States of Micronesia (South Pacific) Marshall Islands, (near Micronesia) Organization of Eastern Caribbean States, Palau (east of the Philippines) Panama, and Zimbabwe. There are other countries that use the dollar along with their currency as well.

http://www.johntreed.com/foreign-countries-where-the-U.S.-dollar-is-the-official-currency.html

http://www.nytimes.com/2012/04/25/world/africa/using-us-dollars-zimbabwe-finds-a-problem-no-change.html?_r=0

So this is not just a matter of the dollar being used as a reserve by central banks. This is also a matter of nations and their citizens using the dollar around the globe for commerce and exchange. Also consider that oil is purchased and sold around the world in most places only using the U.S. dollar. All of these things add up to make the dollar stronger than most people realize. It is not just a reserve currency! It’s a petro-dollar. It’s the official currency for nations around the world.

If America’s economy recovers they will raise interest rates and put an end to Q.E. The dollar would become even stronger as a result. but if they take those actions now it would be at the cost of any economic recovery in America.

There are other portions to this GCR conspiracy theory. Some believe that the GCR is part of bible prophecy so they accept it on that merit alone without researching anything else about the GCR theory. Some believe that an overnight dollar crash and a GCR event will be a prelude to the mark of the beast. Let me just say here and now that this conspiracy theory has absolutely nothing to do with bible prophecy. My personal research into the mark of the beast prophecies seems to indicate something totally different.

Don’t get me wrong. I am not saying that the dollar will never be replaced as a reserve currency. I am not saying that the dollar will not weaken. The dollar has not been the only currency used as a reserve in the past. It could very well be replaced. Right now the dollar is stronger than people think but that does not mean it will remain so.

http://www.zerohedge.com/article/history-worlds-reserve-currency-ancient-greece-today

What I am saying is that there will not be an overnight crash that makes the dollar totally worthless around the world. It won’t be shoved out of central banks overnight and replaced with some new global super currency put together by the IMF. If and when the dollar is replaced it will be a gradual process. It will take time. It could even be years. It will not be an overnight event like GCR promoters claim!

What I am saying is that there will not be an overnight crash of the U.S. dollar that will have an end result of making every dinar holder wealthy beyond their wildest dreams! 11 TRILLION U.S.DOLLARS ARE NOT GOING TO CRASH OVERNIGHT AND MAKE THE 34 TRILLION DINAR OUTSIDE OF THE BANK OF IRAQ WORTH 100,000 TIMES MORE!!!

Can you see the absurd notion in this belief?

By the way think about this. Right now Iraq has 34 trillion dinar outside of the bank in Iraq. The exchange rate in 2009 has been 1170. It moved four pips to 1166. So it has been a pretty steady exchange rate since 2009.

In 2009 Iraq had 21 trillion 776 billion dinar outside of their banks. Today Iraq has over 34 trillion 500 billion outside of the banks. So in 5 years Iraq added about 14 trillion dinar to their circulation outside of the banking structure alone! So the questions are

1. How come hyper-inflation has not consumed the dinar?

2. How has their exchange rate remained so stable? After all it is raised to fight inflation right? How come there has been no movement?

The answer to me is obvious. They have been exporting their currency. I have been able to calculate a very conservative number of slightly over 25 trillion dinar outside of Iraq’s border. I have read in some places and T.D. claims Iraq exported 30 trillion. If that is the case then this means that there is really only about 4 to 5 trillion in circulation within Iraq’s borders. Not bad for a currency that is only supposed to be used in Iraq! This is why hyper-inflation has not collapsed the currency. This is why the exchange rate has been so stable. This is why their reserves have been growing at a faster pace than normal. They have been exporting their currency!

This dinar investment/scam is bigger than most people realize. When I look at my analytics of people who view just my little dinar site I get hits from all over the world. Judging by the amount of people who visit this site the dinar investment is really big in Canada, Malaysia, United Kingdom, Australia, Puerto Rico, Singapore, Germany, India, Pakistan, Philippines, France, Indonesia, Croatia, Sweden, and Mexico.

These countries visit this site on a regular basis. These are not governments. These hits are from private citizens! I suspect that 25 to 30 trillion dinar are spread out over America and these groups of people too. This is massive and it is global! They all gave their dollars to Iraq in order to get dinar! In countries where the wages are lower and the cost of living is lower the investment in the dinar is probably smaller too. I suspect that millions of people have this currency. If and when Iraq does finally redenominate it will become really big news. It will impact millions.

Predictions from Zahlid

About three months ago a man appeared in the dinar community by the name of Zahlid. He claimed to work for the central Bank of Iraq. He claimed that Iraq was going to redenominate by March 15th 2014. He then said it would be by the end of March. Now it is April and there has been no redenomination. There has been no announcement of a soon to be redenomination. I have had my suspicions about him. He had an I.P. address located in Ireland.

Typically people who live in Ireland don’t work for the Central Bank of Iraq. In addition he made some jokes about camels and Iraqi people. Someone from Iraq is not going to do that.

I used the same test I give gurus. I wait until the prediction expires. If the event does not happen as promised then I consider the guru false. His prediction did not come to pass. I believe he does not work for the CBI as an employee or consultant.

I did say that I think he was legit. I did not say this because I believed it with a certainty. I said it because I wanted to see if that statement would anger some of the hardcore dinar community. The hate mail I got was unbelievable. For me this was a simple experiment. It amazes me that people don’t hold dinar gurus to the same standard that they held Zahlid too. While I had a nagging suspicion that this guy was a nut. It seems that no one that is invested in the dinar gets as angry about the constant guru lies. They just wait for the next prediction and start a cycle of hope all over again. I am not talking about the TNT tony’s that are out there. But the other less known predictions

Anyway to me it is now official. Zahlid is a made up name and this person lives in Ireland.

True Freedom

One of the amazing things that I noticed about selling my dinar was how liberating it was. I did not even realize the bondage I was in while I held dinar. It was only after I sold it that this became apparent to me. This is because I use to believe in the any minute revalue theory. I thought I would be wealthy soon. As a result I passed up contract work in my field. I passed up overtime. I did not go on vacations and trips with my family. My life became a constant consuming watchful eye on what this currency was going to do. It became my only concern. I could have made other investments that would have prospered. I could have accepted jobs and contract music work. I could have got overtime.

I passed all that up because I thought I was going to be rich and I did not need those things. I started this blog and devoted several hours to it. I did not place ads on it. I did not make money from it because I thought that I was going to have more money than I could spend and everything was going to be ok. In my mind I would start living my life again once this thing revalues.

You see in the end this so-called investment costs you more than the money you spend on it. It costs you your time. It costs you other opportunities that may come your way to make more money. For some people it cost them their family. For some it cost them their marriage. This whole thing is a bad deal all around. It places you in bondage and it steals everything from you! My true freedom came when I sold this crap and got on with my life.

I began to pursue other things. One of the things I have learned is true wealth is not measured in money. Wealth can also be measured in blessings. There are other things in life that make you wealthier then you realize!

Conclusion

This will be my last post for a while. I have other things that I am going to focus on for a while. If something major happens in the dinar community then I will come back and write about it. If Iraq begins a redenomination process I will come back and write about it. For now it is on to other things.

If you want to know more about my analysis of the Global Currency Reset or the 2008 meltdown then I would suggest you check out my other site. The Rabbit Hole series covers this in greater detail. There are third-party videos and links that are very good. This will allow you to do your own research

The Rabbit Hole part 1 Talks about the events as they unfolded in 2008. It also introduces CMKX and talks about it’s role with the Iraqi Dinar.

http://bvawe.wordpress.com/2011/08/01/the-rabbit-hole-part-1/

The Rabbit Hole Part 2 Covers the deregulation that happened and all the things that aligned to create the melt down. It also covers Basel I, Basel II, and Basel III. It goes into the reasons for these international accords

http://bvawe.wordpress.com/2011/08/01/the-rabbit-hole-part-2/

The Rabbit Hole part 3 gives a background on the Federal Reserve and the Exchange Stabilization Fund and the role it plays with the United States Treasury. It also covers information about oil and more information about CMKX.

http://bvawe.wordpress.com/2011/08/03/the-rabbit-hole-part-3/

The Rabbit Hole part 4 explains CMKX and NESARA. It covers the people behind the scenes of the government and reveals movers and shakers. It also talks about how NESARA, CMKX and the Iraqi Dinar are linked. It goes into why I consider them conspiracy theories.

http://bvawe.wordpress.com/2011/08/04/the-rabbit-hole-part-4/

The Rabbit Hole part 5 is the conclusion of this series. It ties everything together and talks about the global economic community. By the end of the series you get a crash course in economics and international trade. You learn about the petro-dollar and other events that shaped the global community.

http://bvawe.wordpress.com/2011/08/04/the-rabbit-hole-part-5/

This Rabbit Hole series contains dinar information. These articles use to be over here on Iraq Currency Watch. I wrote them when I still believed in the revalue of the dinar. Unless something bizarre happens. It should be a very long time before I write for this site again.

 

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Global Currency Reset part 2

The wisdom of the prudent is to give thought to their ways, but the folly of fools is deception.

Proverbs 14:8 NIV

In the last post we talked about the origins of the Global Currency Reset. We talked about and exposed NESARA for the conspiracy theory that is. We dealt with some of the many definitions to the terms Global Currency Reset or GCR. The article was getting kind of long so I decided to stop at a certain point and continue later with more information in a future article. I am jumping in the middle of a thought process here and a lot of information is already covered in the previous post. So for that reason I strongly suggest that you read The Global Currency Reset Part 1 before you read this article. Reading part 2 only is like going to a movie with a detailed plot and coming in a little after the middle.

China

The IMF plays a major role in one of the definitions of the GCR. According to Lyndsey Williams the IMF is going to force all nations to revalue their currency by the end of March and the values will be based on other things. The dollar will be worth a lot less as a result. See Dinar Update 3

Not only is this absurd it is not even practical. As I said before people only attribute the effects of over printing currency to America. They ignore the effects it has on all other nations that do the same thing as if America is the only one that is going to suffer for this practice and all other nations are immune.

While it is true that America has 11 trillion dollars. China printed over 110 trillion Whan!

http://www.tradingeconomics.com/china/money-supply-m2

That is 10 times the amount of America’s dollar

“Yuan’s Real Exchange Rate Undervalued 5%-10%, IMF Report Says”

http://www.bloomberg.com/news/2013-08-01/china-s-real-exchange-rate-undervalued-5-10-imf-report-says.html

The reason why China does this is due to the fact that their economy depends on exports. If china raises their currencies value in a GCR event then that would translate to higher costs to manufacture goods. This would decrease exports! By the way this applies to all the BRICS nations as well as it would apply to every other country. You are not going to get everyone to comply. There will be some defectors and that will cause everyone to ignore arbitrary IMF imposed GCR rates.

In the past China has always undervalued their currency. This acted as a 30 to 40 cent tariff on all goods coming into their country. This allowed the exports to increase and at the same time allowed them to control imports. Countries with over printed and inflated currencies have a greater chance to export goods because their currency values are low and that keeps manufacturing costs down. This may be one of the reasons why they inflate their currency in the first place.

These nations are not going to surrender the sovereignty of their currency value to the IMF. The IMF won’t be able to force China to raise it’s currency’s value especially based on some fictitious GCR event. And in any case all those countries would need to do to lower their value once again is to print even more currency. Is the IMF going to tell each nation how much currency it can print too? This notion is ridiculous to say the least.

As far as revalues go china serves as a great example. Let me paraphrase and bring up some things Jack pointed out

“Over the past decade, China has “Revalued” the Yuan by around 35% vs the dollar and in total. This was spread out across multiple steps. This is what real life revalues look like. A couple of percentage points here, and another couple of percentage points there a few years later. The most recent being 5% from 2011-2013. And even today, even with China’s deliberate under-pegging aberration, you’re still only talking about a 5-10 percent undervalued repricing . About 15 percent is the absolute highest estimate which is nothing even remotely close to a 100,000% REVALUE! The Guru’s false pumping of the dinar by trying to pretend the Dinar “MUST DESERVE” a 1980′s exchange rate and ignoring the fact its money supply is now 4,000 times higher than what it had in the 1980′s is ludicrous. This is the prime reason its rate fell in the first place!

However as long as China is a net exporter, they simply won’t want a massively stronger currency as it will hurt Chinese businesses by making it relatively more expensive for non-Chinese to import goods from China in all future trade. Having a stronger currency is no good if it kills off export growth!”

It is also true that china is experiencing some problems because of lack of environmental controls. China has cancer villages and many other environmental issues to overcome. I have also written an extensive report on China and their current geo political problems which can be found on my other blog.

http://bvawe.wordpress.com/2013/11/24/the-real-battle-part-7/

https://maps.google.com/maps/ms?msa=0&msid=207156850501906471306.0004da7c080a323c331b3&dg=feature

This is why so many nations are mad at the Federal Government for Quantitative Easing. Because this lowers the value of the U.S.dollar and it serves to level the playing field for exports. It affects the exports for every nation that has a low currency value. Imagine what would happen to America’s economy if the U.S. dollar suddenly dropped significantly and hyperinflation came. The amount of Imports would suddenly decrease as their prices would soar. Now how would that effect china if all currency was reset and China no longer has it’s edge and the U.S. had a significantly lower value attached to their currency?

U.S. interest rates have been almost zero since the economic crisis began back in 2008. Gold and silver will react negatively to the news of a possible imminent increase in interest rates. This is because any increase in interest rates will strengthen the dollar. Q.E. is also an effort to boost the economy. When the unemployment rates drop and the U.S. economy finally begins to really recover then I expect the Federal Reserve to ease up on Q.E., and I expect interest rates to rise and the dollar to become stronger as a result. When this happens it should affect the price of gold and silver, but the people who sell precious metals and push this GCR won’t tell you that.

Iraq

Here is Iraq’s current money supply

Iraq money outside of the banks = 34 Trillion

Iraq M0 = 70.9tn Dinar

Iraq M1 = 71.3tn Dinar

Iraq M2 = 85 Trillion

http://www.tradingeconomics.com/iraq/money-supply-m0

The reason guru’s won’t repost this or even talk about it is pretty obvious. Iraq still has over 71tn physical banknotes alone and there is little difference between M0 and M1 due to the primitive nature of Iraq’s banking system.

Their currency is so inflated that there is no possible way for them to revalue to even a penny! No GCR event can overlook this. If there was a GCR event and the IMF raised the value of the dinar as people claimed then it won’t be long until hyper-inflation would collapse the currency entirely due to the amount in circulation!

In addition to this Iraq announce that their plan is one of redenomination. Here are some of the designs they have considered for their new currency.

New Currency Design

New Currency Design

oh wait……My Mistake, Those are really Sam I Am bucks…They are offered out free of charge so that Dinar Gurus can buy a clue! Here is the new dinar.

dinar

Oh wait that is not it either..as the youth would say My Bad! Here is the New Dinar

Dinar 2

Now this is not the new dinar from the CBI that is the ISIS dinar. Check the links below.

http://www.iraqinews.com/baghdad-politics/abu-risha-isis-issue-new-currency-in-anbar/#axzz2uAggyNdV

http://pamelageller.com/2014/02/al-qaeda-iraq-printing-currency-featuring-photo-osama.html/

OK here is the New Dinar

4472

This is being shown as the new dinar. Actually this is the dinar that was in circulation back when Ahmed Hassan al-Bakr was president. He is the guy that was in charge before Saddam took over.

http://en.wikipedia.org/wiki/Ahmed_Hassan_al-Bakr

look at the one dollar bill. The note on the bottom left. Now look at this eBay auction which is a dinar note from 1973. It is the exact same note.

http://www.ebay.com/itm/1-DINAR-Banknote-IRAQ-1973-Al-Mustansiriya-Madrasa-Refinery-Pick-63-UNC-/380404193527

This has been shown and displayed as new dinar on a few sites. This is just a small example of the deception that is out there. Iraq does have a plan of redenomination. I don’t think anyone has seen the new notes yet. I do believe that they are already printed, but that is only my opinion.

Religious Point of View

There are those who present the GCR as biblical prophecy. It is believed that this event that will move everyone closer to the mark of the beast and a one world economy that the Anti-Christ will rule. Christians who know little about biblical prophecy have fallen for this. This is one of the main reasons this group invested in the dinar. Who can argue with biblical prophecy?

First the mythical GCR has nothing to do with biblical prophecy and that notion is really false doctrine in that regards. I have studied the bible for many years and I love to research and look at biblical prophecy. This GCR is total Bunk when it comes to actual bible prophecy! It has nothing to do with it. The mark of the beast is totally different and it is issued during the time of the Anti-Christ by the false prophet. Even though a lot of dinar gurus are false prophets those are not the ones the bible is speaking of.

Buzz Words

Most people can’t really explain the mechanics of a GCR beyond using buzz words like Global Reset, Fiat Currency, Fractional Reserve Banking, and Linear-Thinking. These are just some of the buzz words I have seen on other sites. Let me provide some definitions to what these buzz words actually mean

Fiat Currency: Fiat is the Latin word for “it shall be”. Most currencies were based on physical commodities such as gold or silver at one time, but fiat money is based solely on faith. Fiat currency is money that a government has declared to be legal tender, but the fiat currency is not backed by a physical commodity and it has no intrinsic value. The value of fiat money is derived from the relationship between supply and demand rather than the value of the material that the money is made of or the commodity it represents.

The U.S. dollar is considered a fiat currency because it is backed by nothing. The Iraqi dinar is not considered to be fiat because it has reserves. BUT the sick joke is 98 percent of what backs the dinar is the FIAT U.S. DOLLAR! And this gives the dinar value how?…….So how will the GCR regulate a currency that gets it’s value from the U.S. dollar? If the dollar falls then the dinar falls too! So does the Whan and many other currencies around the world. The dollar won’t fall while every inflated currency backed by the dollar rises! This is absurd!

“The Congress has specified that Federal Reserve Banks must hold collateral equal in value to the Federal Reserve notes that the Federal Reserve Bank puts in to circulation. This collateral is chiefly held in the form of U.S. Treasury, federal agency, and government-sponsored enterprise securities.”

This is how gold breaks down. There is 166,500 tons of gold in the world. 18 percent of that or 32,000 tons is held by Central Banks for reserve. Out of that the U.S. has 8,133.5 tons of gold which makes 72 percent of the reserves held by the U.S.

The Federal Reserve Bank of New York holds 540,000 Gold bars alone. Not bad for a fiat currency.

http://demonocracy.info/infographics/world/gold/gold.html

http://en.wikipedia.org/wiki/Gold_reserves#Officially_reported_gold_holdings

http://www.federalreserve.gov/faqs/currency_12770.htm

Now compare that to the dinar that has a grand total of just 2 percent gold in their reserves. The rest of their reserves are U.S. dollars

This is not even taking into account the petro dollar system which the U.S. put into play in 1973. This petro dollar system is one reason why the dollar has out lived the fiat currency life span. For more information on the petro-dollar system look at this article I wrote 2 years ago explaining it in detail. Watch the videos too

http://bvawe.wordpress.com/2011/07/23/the-role-that-oil-plays/

Linear-Thinking: If you are accused of “Linear Thinking” then you don’t understand the Global Currency Reset. What this really means is you pay too much attention to printed currency supplies and that has you caught up from seeing the truth.

If you are not a Linear Thinker then you know that currency supplies don’t matter and nations can have as much of it as they want. It won’t make any difference. Only the U.S.A. will be penalized for having too much currency because they are evil and bad………. If you can’t see that then you are a “Linear Thinker.”

What a bunch of B.S.!!! Currency supplies do matter and too much currency destroys the value end of story! I guess I am just a linear thinker after all.

Fractional Reserve Banking: FRB or Fractional Reserve Banking is a process that expands the money supply. It is said on some GCR sites that central banks will use this process to pay out the new currency values. The only problem with this is the fact that Fractional Reserve Banking is a process that is only used by the public banking system. Private central banks don’t use Fractional Reserve Banking.

FRB is a process that expands the money by monetizing the debt. In other words, when people participate in the loan process that debt is monetized. New money is created thus expanding the currency supply. Central banks don’t do this, public banks do. The CBI is not going to go into debt using a method of debt monetization so it can payout a new value that is adjusted to their currency because it is imposed by the IMF in a fictional GCR event! That shows you how clueless some of these guys are about economics.

The IMF

Christine Lagarde is Managing Director of the International Monetary Fund. Some parts of the GCR conspiracy name her as the one responsible for the upcoming GCR event. They quote her twitter page and watch her for clues.

LaGarde’s Exact Tweet : “We need a reset in the way the economy grows around the world” This has somehow morphed into All currencies are going to reset.

All she is really talking about was resetting economies. The Goal here is to boost economic growth to pre-2007 levels! BEFORE THE 2008 MELTDOWN! These factors include reducing unemployment and inflation. There is some banking reform through Basel III which is really all about increasing balance sheets for banks. It has absolutely nothing to do with currency values! It is not a GCR guru-style “let’s pretend the world’s most inflated currencies are not really inflated and new values will be assigned!

People are just twisting the whole thing wildly out of context to mean overnight revalues of currencies and destruction of the dollar! All most people are really doing is confusing economy with currency. They are not interchangeable. It’s possible to have a strong currency and weak economy. Greece, Portugal, Fiji, serve as examples. It is also possible to have a weak currency and strong economy South Korea, China, and Japan, serve as examples too.

A few weeks back the BBC released an article about the dinar. They actually quoted me in that article. They also quoted the IMF. According to the IMF the Dinar investment was fraudulent. By the way this is a Direct Quote from the IMF. read the Article.

http://www.bbc.co.uk/news/blogs-trending-26187471

Conclusion

What do people mean when they say global currency reset? This in itself is a buzz phrase thrown around as though it has some sort of validity. The truth is it can be a complicated subject. Part of the reason for this is because there are so many different meanings attached to it.

The United States dollar is the most widely held currency in the Allocated Reserves today. A report released by the United Nations Conference on Trade and Development in 2010, called for abandoning the U.S. dollar as the single major reserve currency. Some have proposed the use of the International Monetary Fund’s (IMF) special drawing rights (SDRs) as a reserve.There is some truth to the move to a multi-polar financial reserve world.

This does not mean that the USA’s reserve status is going to collapse to zero as if the USD got replaced by say the IMF Special Drawing Rights. The US dollar will still make up a large chunk of reserves simply out of economic necessity for trade.Some people are wildly over-reacting to a trend for more multi-national reserves somehow meaning total collapse of the USA’s economy and a revalue of the worlds most inflated currencies.

The Global Currency Reset does not mean that the entire U.S. economy will collapse and the dollar will become worthless while the overprinted dinar, dong, and others become the new standard! That to me is the most absurd definition of the GCR out there!

 

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The Global Currency Reset Part 1

When you look at the mechanics of money and you consider how the exchange process works you begin to see certain rules that govern all money. The Federal Reserve released a book way back in the early part of the 20th century called Modern Money Mechanics. Let me give you an example of some of the physics that govern currency. The more currency a nation has in circulation the less it is worth. The less currency a nation has in circulation the more it is worth. This is one of the rules that apply to anything that is being used as a medium of exchange. Be it fiat currency or even gold.

https://archive.org/details/ModernMoneyMechanics

When you look at the dinar and compare it to the mechanics of money there is no way that the currency can gain value. A lot of people are expecting this currency to revalue and create a financial windfall that will set them up for the rest of their lives. There have been revalues and they are not uncommon. In all of history there has never been a revalue above 50 percent. A revalue can only be done by a central bank. A revalue is a policy decision that is enacted to fight inflation. The typical revalue is between 3 to 7 percent. The largest one I have seen is about 30 percent. Revalues only happen to currencies that are pegged. Floating currencies don’t revalue because the market determines their value not the central bank. So the belief that drives dinar sales and the speculation in this currency is that it will revalue and people will be made wealthy from this revalue.

The problem is that when you consider how money actually works and money mechanics in general then you begin to realize that this belief is impossible. There are a few major problems behind the dinar and the money mechanics involved to make this happen.

First the dinar is currently valued at 1166 dinar to one U.S. dollar. If the dinar was to move to a value of just 1 U.S. penny then that would be a 1,000 percent revalue. Second Iraq’s M1 money supply is over 71 trillion dinar. This is the main reason the dinar is valued so low. If there was less currency in circulation then the dinar would be worth more. Third the dinar requires a reserve to back it and give it value. The reserves used that backs the dinar is the U.S. dollar. There are not enough U.S. dollars in Iraq’s reserves to back the dinar to even a penny. There are not enough reserves to move the dinar beyond 15 percent.

In spite of the impossibility of this ever happening and the improbability due to the actual way money really works, people get around it by saying the buzz words Global Currency Reset or GCR. Even though something like the expected revalue of the Iraqi dinar has never happened in the entire history of money, and given the fact that the laws that govern money mechanics makes this impossible. People still believe in the revalue due to their belief in this coming GCR event. Portions of the Global Currency Reset could be considered a conspiracy theory depending on which definition you believe.

When you Google the words Global Currency Reset a whole host of websites and blog sites come up promoting it or debunking it. There are also many definitions to the term Global Currency Reset. Some of these aspects blend together and people pick and choose which part of this theory they choose to believe. It is important to note that not everyone that believes in a Global Currency Reset believes everything that is written about this so-called coming dinar revalue. So for the sake of clarity let me go over just some of the definitions of GCR that are out there. Dinar speculators are mixed about these different definitions. Some of them only believe part of this theory and people tend to choose the parts that make the most sense to them. Let’s look at just some of the definitions of GCR

NESARA

“NESARA is an acronym for the proposed National Economic Security and Reformation Act, a set of economic reforms suggested during the 1990s by Dr. Harvey Barnard. Barnard claimed that the proposals, which included replacing the income tax with a national sales tax, abolishing compound interest on secured loans, and returning to a bimetallic currency, would result in 0% inflation and a more stable economy. The proposals were never introduced before congress, and the only congressman known to have commented on the bill is Ron Paul, dismissively, and through a spokesman.” (From Wikipedia)

I checked the congressional record for the 1990’s. Then I did a search through the entire data base. This is what the search result said. “NESARA does not occur in the data base.” Then I did a search for National Economic Security And Reform Act. It was not in the congressional record at all. This means that this bill never came before congress. Don’t take my word for it. Look it up yourself

http://www.gpoaccess.gov/crecord/index.html

http://memory.loc.gov/ammem/amlaw/lwcr.html

This means that if NESARA never came before congress then it never became law!

But, NESARA took on a life of it’s own. It has become a cult-like conspiracy theory promoted by Shaini Goodwin. She claims the act was actually passed with additional provisions. She also claims George W Bush and the Supreme Court have kept it hidden. In 2000 Barnard decided to release his proposal for NESARA on the internet. Soon after this a person known as the Dove of Oneness began posting about NESARA on internet forums. The Dove of Oneness has been identified as Shaini Goodwin. She was a former student of The Ramatha School of Enlightenment. Founded by Judy Zebra Knight aka Judith Darlene Hampton. Basically these are new age beliefs! Knight has appeared on U.S. TV shows such as Larry King, The Merv Griffen Show, and MSNBC. Her teachings have attracted people like Shirley MacLaine and Linda Evans. Among the bazaar teachings is the belief that a convert to this teaching is god!

http://en.wikipedia.org/wiki/Ramtha#Ramtha

http://en.wikipedia.org/wiki/NESARA

Goodwin has embellished and added to NESARA. She makes references to white knights. Most of whom are high-ranking military officials who have been struggling to have the NESARA law implemented despite opposition from George Bush.

Barnard became aware of Goodwin’s description of NESARA before his death in 2005. He denied that NESARA had been enacted into law or even had been assigned a tracking number, and he condemned Goodwin’s allegations as a disinformation campaign. Since Goodwin began commenting on NESARA, other Internet-based Conspiracy theorist have attached itself to NESARA giving this whole thing a life of it’s own.

NESARA will attach itself to a legitimate thing to gain credibility. NESARA can be found in the fair tax movement, It has shown up at tea party events, and on occasion hides at those functions probably looking for converts. It has also attached itself to Something called CMKX, and it talks about the payout of CMKX. Using terms like global settlements and referencing the white knights. NESARA has attached itself to the revalue of the Iraqi dinar as well. These white nights are the men who will implement this supposedly secret law.

This opens up a whole new world as to why the dinar has not revalued yet! The term Global Currency Reset and Global Settlements first began with NESARA. According to current NESARA doctrine, when the dinar revalues then the government will make the CMKX pay out. This will cause the white nights to enforce the law, and the entire world resets, Then space aliens will show up on planet earth and introduce themselves. I am not making this up! This is what they believe! They believe that we are being watched right now. As soon as all this stuff happens Aliens will fly here in their spaceships.

http://www.nesarasucks.com/

Investigators who have researched Goodwin’s claims found that she began commenting on NESARA in connection with Omega Trust, a fraudulent investment scheme whose creator, Clyde Hood, was on trial at the time. According to Goodwin, Omega Trust investors would receive their returns after NESARA was announced. Goodwin repeatedly predicted that the NESARA announcement would occur in the very near future, although in later years she was more reserved in these predictions. The Omega Trust still lives on in the Internet as a supposed global poverty relief program and in part as a Global Currency Reset.

http://en.wikipedia.org/wiki/Omega_Trust

The Coming Dollar Crash

Not everyone who believes in the GCR believes in the garbage that NESARA teaches. It is important to note that this does not represent every dinar speculator. There is only an outré fringe of people who believe this. People choose and pick from different aspects of this GCR conspiracy and there are different definitions. I felt it was proper to cover the origins of the catch phrase Global Currency Reset and Global Settlements.

The dollar crash definition basically says that there is a coming crash to the U.S. dollar. This is due to in part to the United States debt and in part to the overprinting of the U.S. dollar. People have been predicting this demise of the dollar for years

The basic belief here is that the dollar will lose reserve status around the world and it will become unstable. When this happens countries around the world will replace their reserves and the dinar will revalue as a result. Sometimes the idea here is that the dinar will use it’s resources to revalue it’s currency rather than the U.S. dollar

Gold and silver sellers have been predicting the end of the dollar for some time now and the GCR is used to hype gold and silver sales. Dinar Gurus have taken this a step further and said that the collapse of the dollar and the GCR event will be the thing that brings about a revalue in the Iraqi dinar. So it does not matter about the history of revalues because something is getting ready to happen that has never happened before in history. Then the claim is made that people can’t understand this new system and they can’t escape fiat currency terms.

A rabbit trail of this belief says that countries will give values to their currency based on the resources that particular nation has. And the commodities that are in that nation such as oil will determine the currency value. The IMF will force all nations to place a different value on their currency based on national resources

Another belief is that the International Monetary Fund (IMF) will force all nations to simply revalue their currency. The dollar will go down because it is over printed and the dinar will go up. Gold and silver will go up as well. This belief is slightly different as it has nothing to do with a nation’s resources. This is popular among gold and silver sellers like Lyndsey Williams. He is one of many precious metal gurus that is currently spreading this hype

See dinar update 3. According to Williams, the IMF is going to make this announcement for a GCR around March of 2014

Another belief is that reserves around the world will be replaced with a group of currencies or a basket of currencies thus replacing the dollar. While this is the only plausible aspect of the GCR theory and it has some merit, it will not happen overnight and it will not result in a total removal of the dollar or a revalue that will make every dinar holder wealthy.

Then there is another aspect of the GCR belief which claims it is a part of biblical prophecy. People subscribe to it because they believe it is a fulfillment of bible prophecy. To these people money mechanics don’t matter because they take their faith in scripture and misapply it to the GCR event.

http://www.prophecyclubresources.com/GLOBAL-CURRENCY-RESET-LINDSEY-WILLIAMS/productinfo/LW-GCR01/

These are just some of the different definitions of GCR. As crazy as all this sounds “GCR” proponents can’t explain what they’re trying to convey beyond throwing around a few buzzwords like “fiat currency” and “fractional reserve banking” Then these same pumpers only attributing these things to America. Most of these guys don’t have a clue as to how the money mechanics associated with these terms really work. So let’s explore it

The problems with GCR

I think the best way to explain some of this is to use some terms and facts that Jack has shared over at Baghdad Invest. He has spent a great deal of time debunking common misunderstandings with the economics of this alleged GCR event. So let me paraphrase and share his data as it provides some great insight.

As for revaluing a currency based on a nations gold supplies this is what Jack thinks.

“Do you even comprehend how BRICS possess more gold than all other countries combined” being another perfect example of an outrageously false claim. BRICS have certainly been importing more gold but over half of what they import gets consumed in industrial use and demand for jewelry.

“In 2013, the country of China produced 342 tons of gold and consumed 840 tons thus importing 498 tons.” That isn’t even remotely the same as the lie “China has been secretly adding 498 tons to their currency reserves every year” that you seem to be pumping… The same is true of India. They use nearly all of what they import on jewelry. That’s why the Indian government slapped on a 10% duty on gold bullion but a 15% import duty for gold jewelry. Most gold in Asia is going to private citizens not banks. Combined Euro zone gold reserves alone are more than the combined BRICS reserves, so that’s another lie you have told.

As for “revaluing national currencies based on Gold in a Global Reset”, here is the Gold’s share of national reserves by country:

84% Portugal

76% Greece

70% USA

66% Germany

65% France

65% Italy

52% Netherlands

48% Austria

33% Belgium

23% Spain

12% UK

10% South Africa

7% India

2% Iraq

2% Saudi Arabia

1% China

1% Brazil

http://en.wikipedia.org/wiki/Gold_reserves#Officially_reported_gold_holdings

http://www.imf.org/external/np/sta/ir/IRProcessWeb/colist.aspx

Ninety nine percent Of China and Brazil’s wealth is holding other countries paper money. Trillions of paper USD’s. Ninety eight percent of Iraq’s wealth is USD paper. Ninety three percent of India’s wealth is again paper money. It really is time to drop the total mental delusion that

A. We’re going back on a 100% full reserve gold standard. There simply isn’t enough gold in the world which is why we came off it in the first place! The entire combined GLOBAL reserves are around 32,000 tons or around $1.2 Trillion worth. Compare that to the $80 trillion global economy, and

B. That doing so will cause Iraq to soar and the USA to plummet because Iraq holds a tiny 30 tons of gold which is less than Nepal’s or Slovakia’s.

As far as backing all currency on a nation’s resources this is what Jack had to convey

Iraq only has $1.2 billion worth of gold. If you tried to back 85 trillion dinar solely with that you would end up with an equivalent dollar rate of 70833:1 or 60x LESS! Even if it doubled overnight Jim-Willie-style it would still only be worth $3 billion.

Basing a currency’s value on vague unspecified resources simply lying in the ground as Jan claims is total nonsense. As for backing the dinar with oil goes, Iraq may have 140 billion barrels of oil. Giving a $100 per barrel oil price is only equivalent to $14 trillion in assets. BUT that $14 trillion worth of oil is going to be spread over the next 127 years in the form of 3.0 million barrels per day actual production. If Iraq increases exports to 4 million barrels, then that $14 trillion worth of oil will still be spread over the next 96 years. Some highly deluded people genuinely think all that 140 billion barrels will all be magically teleported out of the ground in 2014 and donated to the CBI. It will be stuck in some giant warehouse for backing the dinar tomorrow without a single drop being sold or used ever again!

No country is going to squeeze in every single year of economy from 2014-2141AD all into a 2014 currency’s valuation. This is the absurd GCR in a nutshell. You could make the same argument with the USA and claim the US Dollar is going to skyrocket if you count 127 years’ worth of future US exports which equals $194 trillion or 13.8 times Iraq’s worth in oil reserves. Iraq has 85 trillion dinar (M2) and 140 billion barrels of oil or basically, enough to back 607 Dinar with 1 barrel worth $100. Except they won’t because Iraq will consume around 1/5 to 1/4 of it themselves and export virtually all of the rest to non-Iraqi’s and in both cases all that oil is no longer available to back the Dinar!

Same thing applies with minerals. If you have 1 million tons of aluminum resources and you dig it up and use 300 thousand tons to build stuff and then you sell 700 thousand tons to other countries, how much do you have left for the purpose of currency backing that is just sitting there in a pile and doing nothing? None!!!! People dig up oil and metals to use or export, and once it gets used or exported it’s not available for backing anything. This is why simply quoting a nation’s oil reserves and assigning an arbitrary GCR exchange rate to the currency based on that is absurd.

It’s also comically inconsistent. Apparently Canada is going to fall and Iraq is going to rise due to Iraq’s oil. This is hilarious given that Canada has 175 billion barrels of oil or 25% more oil than Iraq’s 140 billion barrels. Canada has a lot of other natural resources. China will also LOSE out due to being a net IMPORTER of virtually every raw resource going from oil & LNG to iron, copper & aluminum, titanium, uranium, coal, timber, rubber, etc. Why do people think they’re running around Africa & South America buttering up the locals? Because they don’t have enough resources to sustain even what they consume let alone surplus leftover to back 110 trillion Yuan at some wonder high rate! Yet more proof that the people shoveling this GCR conspiracy haven’t even bothered to research any of the countries they’re pumping.

Using non-recyclable resources like oil as currency backing and as an inflation hedge is also totally backwards and contradictory. As each year goes by, oil gets burnt up or sold to someone else to burn up. It becomes no longer available. Iraq can’t keep it in a vault for all eternity. They have to constantly sell it to fund central government in place of taxes or burn it internally for things like transportation, oil power stations, and construction, just out of necessity. Every time Iraq burns or exports a barrel of oil that oil will no longer be inside Iraq backing the dinar. This action will be making whatever GCR resource peg more and more OVER-valued as each year goes by.

If Iraq has 140 billion barrels of oil and sells oil at 1.1 billion barrels per year and consumes more internally on top of that. Then as each year goes by, its resources backing its currency increasingly dwindle and they’ll need to LOWER the value of their currency peg vs oil. They will do this with an endless stream of annual DOWNWARD RV’s because if they lose currency-backing-resources each year, then their resource-backed-currency will lose value each year too! And all the while their population is growing they still have to print more money for liquidity purposes amplifying this effect. What “Genius” came up with that? Avoiding inflation by using a constantly dwindling resource that is naturally permanently inflationary? If you want a hedge against inflation, you don’t peg your currency to an asset which shrinks each year like oil as that is exactly the same long-term effect as printing too much fiat money and not having the resources to back it!

There is just as many GCR gurus spewing out junk economics as there are RV gurus. Many people cling to this because they’re deathly afraid of admitting Iraq is going to redenominate and they are left trying to find some alternative “magic millionaire elixir” to allow Iraq to keep 85 trillion Dinar and somehow magically make it more valuable to avoid admitting the blatantly obvious “elephant in the room”! The Iraqi Dinar is 3,000 times weaker than the Kuwaiti Dinar simply because Iraq has printed 3,000 times more paper money than Kuwait. A vastly disproportionate people hanging round GCR conspiracy stuff are either Doomsday gold bugs predicting imminent $5,000 gold prices every month since 1999 or they are Dinar holders who have realized the absurdity of a 100,000% RV for Iraq, yet strangely they see nothing wrong in extending the same contorted logic to the whole planet to try to keep the dream going!

People keep talking about the oil that Iraq has as a means to base a new value on their currency. Countries don’t base currency values on oil reserves and then once again on oil exports years later when the oil actually gets dug up and sold. This is because you would be double counting everything and essentially trying to price in that same barrel of oil twice!

On the USA losing it’s reserve status these are some of Jack’s thoughts.

The USA’s “reserve status” is not going to collapse to zero as if the USD got replaced by say the SDR (IMF Special Drawing Rights) which gets expanded to include the BRICS countries as some are claiming or similar new supra-national reserve basket of currencies. The USD is still going to make up a large chunk of that simply out of economic necessity for trade. The USA still exports over $1.5 trillion in goods per year. This is 3/4 of China’s $2 trillion and still the 2nd place exporter out of some +190 countries. Some people are wildly over-reacting to a trend for more multi-national reserves somehow meaning total collapse of the USA’s economy. This is not true. Even in these dark times, exporting 3/4 of what China does with only 1/5th of the population, (300 million people vs 1.5 billion people) is hardly something to be embarrassed about.

What will happen if countries stop selling oil in dollars is that their future inflationary risk will be spread over a larger number of currencies. Basically they won’t continue to devalue at the same rate with a peg to multiple currencies rather than pure dollars. BUT – that won’t undo existing massive devaluation of inflated currencies like the Dinar, Dong, Rupiah, Rial, and others. they will remain weak until they redenominate simply because they’ve printed even more money in their own currencies than even the USA has. It’ll simply hedge against further future devaluation. It won’t undo the past. Just like a cut in a budget deficit will slow the rate of increase of more future debt – it won’t shrink the existing debt.

The USA has printed $11 trillion dollars for 300 million Americans which work out to $36 thousand per American. Even if real figures were double that still works out to $72 thousand per American. That is a worst case of 100% of all USD used only by Americans. Iraq however has printed 85 trillion Dinar for 30 million Iraqi people. That works out to over 2.8 million dinar per Iraqi citizen – the classical definition of past hyper-inflation. When everyone in your country is a multi-millionaire in local currency units and yet the average annual salary is barely $5 thousand in real international terms then that is exactly what hyper-inflation is. People who also believe reducing dollar holdings equal the dollar will tank and the Yuan will soar also need to get a grip of how much money China has printed.

Which of the big nations have printed the most currency units?

1. China – 110 trillion Yuan

2. Russia – 29 trillion Rubles

3. India – 20 trillion Rupee

4. USA – 10.9 trillion Dollars

5. Eurozone – 9.2 trillion Euro’s

Even if the USA’s money supply was double of the official figures, it would still only be 1/5th that of China’s.

A lot of people bash the Federal Reserve for printing too much money to bail out the banks (and rightly so), but strangely they seem to ignore the fact China has printed 10 times more Yuan than even the Federal Reserve has printed dollars! Inflation for many BRICS countries is just as high as the USA’s rate. Russia’s is 6.5%, India’s is 6.0-7.5%, Brazil’s is 6%, and South Africa’s rate is 5.5-6.5%. This is also assuming everyone else is honest and the USA is the only country which under-reports it! Food price inflation in China/India has been in double digits in many areas these past few years. Again it’s amazing how some people act like only the USA experiences inflation.

In short: Moving away from a pure dollar peg will slow down the rate of future devaluation based on Federal Reserve over-printing the money supply, but what it WON’T do is cause the dinar’s value to shoot up! This is because Iraq will continue to have 85 trillion dinar in circulation until they redenominate. It does not matter what the Fed does as Iraq’s problem is too many over-printed DINAR not too many over-printed dollars!

It’s a common guru fallacy that the dinar must be weak purely because of the dollar which will be corrected by a mythical GCR event. This is nonsense. The dinar is also weak vs the Euro (1590:1), GBP (1919:1), Gold (1.475m Dinar / oz), Silver (23,157 Dinar / oz), commodities (eg, Wheat ($272/mt) is 317,457 Dinar / mt (metric tonne), etc.

The Dinar is weak because Iraq has printed too many dinars. No matter what the dollar does the dinar will continue to be weak until they redenominate and reduce their 85 trillion money supply back down to the 85 billion it used to be pre-1990′s inflation. The USD could vanish off the face of the Earth overnight, and the dinar would still have a rate of 1590:1 vs the Euro!

Same is true of the Dong – it’s utterly mind-boggling how some people can sit there with a straight face and say a GCR will adjust the undervalued Dong, when the Dong’s 21600:1 rate vs the dollar is a direct result of the Vietnamese Central Bank printing an eye-watering 3.5 QUADRILLION Dong! For clarity’s sake that’s 3,519 trillion Dong vs the Fed’s $11 trillion-dollar.

There is some truth to the move to a multi-polar financial reserve world, but there’s also a whole lot of hysterical guru B.S. surrounding RVing the Dinar/Dong by +100,000% in either national “RV’s” or some mythical Global Currency Reset event which really isn’t about making any currency shoot up or down 1,000 times.

The move away from pure dollar to a mix of dollar, Euro’s, Yuan, etc, is more about ending a downward spiral of future unilateral Federal Reserve devaluations. Add to that the usual USA vs China power-bloc politics. Not some +100,000% return get-rich-quick scheme that involves convincing amateur speculators that all the 10 times most inflated currencies on Earth are unfairly undervalued and are not really inflated! This is about 99 percent of almost all Dinar/Dong RV pumping in a nutshell.

Conclusion

I would like to thank Jack for sharing this information. I have edited his comments in an effort to make his information easier to digest. I have not changed his information, his numbers, or his points..I just changed things like $ to dollar and tn to trillion. I changed some phrasing as well. All of Jack’s data is in tact and his points are made. Those were not changed

One thing I will say is Iraq has a little over 71 trillion dinar in their M1 alone. That entire dinar supply is only meant for a population of 30 million people. The dinar is only meant for circulation inside of Iraq. America has 11 Trillion U.S. dollars in their M2 for a population of over 300 million people. Two thirds of the U.S. dollar is exported and used around the world in currency reserves and by other nations as a means for exchange.

In part 2 we will examine more problems with the Global Currency Reset Doctrine and wrap things up.

 

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We are the Sheeple

BBC seeks the truth

The BBC just did a story on the Iraqi dinar. BBC started reporting on a trend that took twitter by storm. This was kind of like an Occupy Wall Street campaign in cyberspace. About 4 million tweets appeared that said various things but all had one phrase that said “#wearethepeople.”

This was a campaign that was started by dinar guru TNT Tony. Some tweets simply said “Release the RV #wearethepeople” I think the Sheeple who follow Tony may feel that this is a great course of action and it could result in launching this fictitious RV. This campaign has led to a BBC investigation which led to a proper analysis of the situation.

The BBC story was written by Cordelia Hebblethwaite. She did her due diligence and she treated the story with the proper analysis it deserves. I did speak with her on this topic. She spoke to a number of other people in the dinar community as well. She spent a great deal of time digging to find the truth. I found her reporting to be very fair and objective. I sure hope they do some follow-up articles.

In addition to the article the story will also be on BBC radio. Here are the links to the article and the radio show.

http://www.bbc.co.uk/news/blogs-trending-26187471

http://www.bbc.co.uk/programmes/p01ryk68

Blog Talk Radio

It seems that TNT Tony is no longer doing his Blog Talk show. For some reason his show is off the air. If you go and visit his blog Talk Page you get an error 404 message. The reason for this is not known and what he will do next to fill the gap of his Blog Talk show is anyone’s guess.

According to Ripoff report and the sites below TNT Tony is actually someone named Anthony Renfrow

http://www.ripoffreport.com/r/Tony-Renfrow/Sacramento-California/Tony-Renfrow-TNT-Tony-at-it-again-Dinar-Scam-RV-Iraq-RV-Iraq-Dinar-Sacramento-Califo-1104697

http://www.ripoffreport.com/reports/specific_search/Tony+Renfrow

http://www.truthcall.com/tony.html

Conclusion

It is my belief that this #wearethepeople is nothing more than an attempt to lead more followers to a false conclusion that there will be an RV soon if they participate in this ridiculous twitter tweeting escapade. Do these guys actually think they can force a Revalue by tweeting release the RV? I don’t think it is an effort to get new followers. I think it is an attempt to boost the hopes of those already looking for that financial windfall that they are expecting from this Iraqi Dinar.

 

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