Iraqi Dinar Investment: Fact or Fiction?

HUNTSVILLE, Ala. (WHNT) – Across the country and in the Tennessee Valley, people are buying Iraqi dinar.  They’ve been told it will one day rise sharply in value against the U.S. dollar, leading to a financial windfall for them.

Albertville resident Tim Jones is one of those who bought in, along with his pastor and several church members.

Years later, the payoff still hasn’t come.  A WHNT News 19 investigation also uncovered warnings from state regulators, the Better Business Bureau and financial experts calling dinar investment a scam.

Despite the warnings, many people remain invested.  They continue to hold the physical currency – often purchased through private dealers at a markup – and point to specific claims as justification for buying in.

So are those claims, used to promote dinar as a good investment, fact or fiction?

WHNT News 19 took action to find out.  Here’s what our investigation found:

Claim #1: There will be a “revaluation” or “RV” of Iraqi dinar, raising its value against the U.S. dollar and leading to a payoff for the investor

Currency expert John Jagerson, of LearningMarkets.com, tells WHNT News 19 a “revaluation” of Iraqi dinar “could not happen” and “is not planned to happen.”

Jagerson, who spent years researching the subject and authored an e-book called The Iraqi Dinar Scam: Why Buying the Dinar is for Dummies, adds that many of the “facts” dinar investors believe are actually false.

Jagerson thinks many dinar promoters are “perpetrating falsehoods” to increase the attractiveness of dinar; perhaps profiting off connections to dinar dealers, or exclusive website memberships and online advertising.  State regulators agree, warning dinar promoters will “misrepresent history” to try to prove profits are possible.

As Jagerson explains, it’s not in Iraq’s interest to allow the dinar’s value to rise – even through a small appreciation - since it would make it harder for the country to pay off debts, more expensive for foreign companies to do business and limit Iraq’s post-war growth.

“Why would Iraq want to do to their currency what no other country wants to do?” Jagerson emphasized.  “It would be like standing on your economic brakes with both feet.  No one does it because it makes no sense.”

He points out that dinar speculators also often confuse the economic terms revaluation and redenomination.

In a redenomination, often done when inflation has reached untenable levels in a country, old bills of larger denominations are swapped for new bills of smaller denominations.  An old 25,000 dinar note could, for example, be exchanged for a new 25 dinar note.  Under this “dropping the zeros” scenario, the purchasing power (or value) of the new note is the same as the old note.  Nobody makes any money.

As Reuters reports, Iraq is on record as saying it eventually intends “to redenominate the Iraqi dinar to simplify financial transactions in an economy that is still heavily centralised.”  WHNT News 19 could find no credible reports of a stated intent to “revalue.”

The U.S. State Department was also quite clear on the possibility of a “revaluation” in Iraq when contacted for comment.  The State Department is sometimes blamed for holding up Iraq’s “RV” along with various international bodies.  Spokesperson Noel Clay however, gave WHNT News 19 the following statement:

“We are unaware of any plans by the Iraqi government to revalue the Iraqi Dinar.  Iraq is a sovereign nation and the U.S. government plays no role in determining Iraq’s foreign exchange policies.”

 

Claim #2: There was a “revaluation” in Kuwait that shows something similar is possible in Iraq

Banking and financial experts confirm to WHNT News 19 that while market forces did cause Kuwait’s currency to fluctuate in value during and after the 1990 Iraqi invasion, there was never a revaluation like many describe.

“Historically, a revaluation where your currency suddenly becomes worth many times what it used to be in the foreign exchange, that’s never happened. Ever,” Jagerson said firmly.

When Iraq invaded Kuwait in 1990, the Iraqi dinar replaced the Kuwaiti dinar as currency.  Kuwaiti dinar was essentially relegated to black market status.  As explained on the Kuwaiti government’s own website, banking stopped inside the country and invading Iraqis stole huge amounts of Kuwaiti dinar and riches.

After liberation, Kuwait’s dinar was restored as that country’s official currency and new banknotes were issued to keep all the stolen monies from being used.  During this issuing, the pre-invasion rate was simply reestablished.

Iraq’s history and circumstances are also very different from Kuwait.

A top executive at one of the nation’s largest banks spoke on background to WHNT News 19.  The executive explained that while it’s possible some people may have profited from holding Kuwaiti dinar during a market-led appreciation post-liberation, expecting anything similar in Iraq is totally unrealistic.

A March 2014 Wells Fargo “International Strategy” memo explains further.  It describes, in detail, why both 1960s West Germany and Kuwait are “poor precedent for Iraq.”  The memo also warns of elevated risks of illiquidity and fraud for dinar buyers.

Claim #3: President George W. Bush’s Executive Order 13303 gives Americans special legal rights to hold or invest in Iraqi dinar

As you can see here, 13303 specifically protects the Development Fund for Iraq, as well as Iraqi oil products and interests – including ownership by U.S. persons - from any legal attachments or liens.  It does not mention dinar, or investment in dinar, at all.

In this 2012 federal indictment against “BH Group” for fraud in the marketing and selling of Iraqi dinars, a grand jury also charges: “Any assertion that Executive Order 13303 promotes, protects, or regulates the sale of or investment in, Iraqi dinar is false.” See page 5, charge 14.

Claim #4: The U.S. Treasury holds a large position in Iraqi dinars

The same federal indictment against “BH Group” states that, in fact, the “U.S. Department of the Treasury does not hold any Iraqi dinar for investment purposes and holds only a nominal amount for use.”

Claim #5: I bought my dinar at a bank and it’s a real currency, so it’s clearly not a scam

Different U.S. banks appear to have purchased and sold dinar at various times in recent years.  At time of broadcast, WHNT News 19 could find no banks currently exchanging the currency, although they may exist.

Those with knowledge of the banking industry tell WHNT News 19 banks are under no “official” restriction when it comes to buying or selling Iraqi dinar and that some may have stopped due to concerns over dinar speculation.

Jay Lawrence, Southeast Communications Manager for Wells Fargo, provided the following statement to WHNT News 19, explaining why the bank does not deal in dinar:

“Wells Fargo does not offer any consumer exchange for Iraqi dinar.  Wells Fargo provides a wide range of foreign currency banknote services, generally for travel-related purposes to meet the needs of our customers traveling abroad.  We do not, however, expect a high number of customers traveling to Iraq for business or leisure purposes in the near future.

As a result, we do not trade Iraqi dinar and we have no plans to change this policy in the future.  We are aware that some websites or blogs promote the purchase of Iraqi dinar as an investment strategy.  We disagree with the view that holding Iraqi dinar banknotes is a sound investment strategy.”

The statement directly contradicts claims from dinar promoters that “1-800″ numbers are, or will be set up at Wells Fargo, to exchange dinar for customers.

Jagerson, along with state regulators, emphasize that it’s not Iraqi dinar itself that’s the problem.  “It’s the investment in the currency as a way to make profits that’s the scam,” Jagerson said.

Claim #6: There’s a “Global Currency Reset” that banks, governments and global players like the World Bank or IMF are secretly coordinating and/or holding up

“That’s probably one of the biggest fantasies in the scam – that there is some kind of government conspiracy behind it,” Jagerson said.

A high-level executive at one of the nation’s largest banks also laughed off the idea of a currency reset.  The executive told WHNT News 19 private banks do not play a role in sovereign countries’ exchange rate management.

The creation of any new global economic framework would also almost certainly have coverage in the respected financial media.

The International Monetary Fund’s mission chief for Iraq, Carlo Sdralevich, was even more blunt, sending WHNT News 19 the following statement:

“No such a thing as a ‘Global Currency Reset’ exists. The IMF has no role in managing the Iraqi dinar or Iraq’s exchange rate system.

 

We work with the Iraqi government and central bank to provide policy advice and technical assistance as part of our ongoing dialogue with them. Decisions on the exchange rate are taken by the country authorities in full independence and sovereignty.

 

There is no external constraint imposed preventing the Iraqi dinar’s revaluation or devaluation. The stability of the dinar is the result of Iraq’s own monetary and exchange rate policies.”

 

Representatives from both the World Bank and U.S. State Department said the same, when asked by WHNT News 19 to clarify what operational powers they have in Iraq.

The State Department also addressed this document specifically, which some dinar supporters argue shows an official goal of a 1:1 exchange ratio of Iraqi dinar to U.S. dollars.

State Department spokesperson Noel Clay said of the document, “I am not familiar with it and cannot vouch for its validity.  Regardless, it is from June 2005 and Iraq has undergone significant change since then.  I would suggest that the document would hold little relevance to Iraq today.”

Claim #7: Iraqi dinar is still a good buy, even without a “revaluation”

Even without an “RV” or “Global Currency Reset,” some investors believe Iraq’s oil reserves and development potential make dinar a good purchase.  Some investors argue the market could drive a strong appreciation in the future.

In 2009, CNBC financial host Jim Cramer appeared to give dinar investment a green light, commenting on the nation’s potential for growth post-war, especially with regard to oil companies.  “I’m always in favor of owning the currency as a play,” Cramer said.  Click here to watch the clip.

Currencies don’t behave like stocks though and as Jagerson points out, a rising GDP doesn’t guarantee gains.  In fact, history shows that for countries like Iraq, “Having a growing economy and growing oil exports does not equal a growing currency.  Generally, it’s exactly the opposite,” Jagerson explained.

Jagerson started researching Iraqi dinar after a close friend invested, then turned to him for expert insight.  Jagerson said he spotted the red flags immediately and wants to use his currency acumen to keep others from falling victim.  He’s produced several online videos to explain, in simple terms, why the arguments in favor of dinar investment don’t add up. Click here to watch them.

After reading the findings above, some dinar investors may be feeling misled.  Concerned individuals can contact the Alabama Securities Commission, which recently issued a statewide “Investor Alert” addressing dinar.

If you purchased the currency and feel you were sold false claims about its potential to rise in value, call (334) 242-2984 or 1-800-222-1253.  You can also email asc@asc.alabama.gov.

To read the warnings WHNT News 19 uncovered about dinar investment from state regulators, the Better Business Bureau and financial experts, click here.

217 comments

  • baghdadinvest

    You have spent a lot of time on this. Much of it we know and more importantly, you have sources such as the IMF, Wells Fargo, State Department, World Bank and many more.

    Conclusively, we can all agree this was a scam, remains a scam and will forever be a scam.

    I have enjoyed reading your work.

    Regards!

    • Rockinginthefreeworld

      You know what a scam is? it is when you try to tell people your crappy website is all about investing in Iraq, and then do a bait and switch on them, and tell them it is all a scam. So you are using the OLD I have to Lie Lie Lie routine, so you can tell the truth, don’t talk to us about truth and research, you liar.

    • Rockinginthefreeworld

      You are full of it!!!!!!!!!!!!
      The World Bank, Wells Fargo and the IMF or any States Agency, have not once made a statement “the Iraqi Dinar will NOT go up in value”, spare us your so called research, again you have no clue.

      • Rockinginthefreeworld

        Thats why you have to look for currency trends, But also the Stock in Iraq is a good play, will agree with you on that half.

      • Bella Batalli

        actually they have made such statements as have economists at harvard business school and london school of business. IMF has stated there is no such thing as a revalue and no such thing as a global currency reset. there is no such recnognized economic terms they were made up by tnt tony and other gurus.

      • john

        In fact, the IMF just issued a statment ordering Iraq to set the value of the dinar against the dollar, just the other day!

    • The Realist

      The fact is NOONE knows what the future holds for the IQD..unless u can fortell the future. Here is another fact. The Dinar has fluctuated in its rates over the last 10 years. So whos to say it wont keep on keeping on. So many Dinar Scam Article Pumpers keep Pumping these Articles like you know the future. So if you know so much tell us the lottery numbers for next week!!!!!!

      • Fib1618

        Realist,

        The IQD opened up in 2004 at around 1600 to 1. I’m not at my computer so I don’t have the exact number, but that’s pretty close. So in 10 years they’ve moved the rate up roughly 40%. If you factor in the dealer buy/sell spreads and 10 years of inflation… even the first investors are sitting on a loss. Or pretty damn close to it.

      • Fib1618

        Realist said…

        “The fact is NOONE knows what the future holds for the IQD..unless u can fortell the future. Here is another fact. The Dinar has fluctuated in its rates over the last 10 years. So whos to say it wont keep on keeping on. So many Dinar Scam Article Pumpers keep Pumping these Articles like you know the future. So if you know so much tell us the lottery numbers for next week!!!!!!”

        ………………………

        The IQD opened up in 2004 at around 1600 to 1. I’m not at my computer so I don’t have the exact number, but that’s pretty close. So in 10 years they’ve moved the rate up roughly 40%. If you factor in the dealer buy/sell spreads and 10 years of inflation… even the first investors are sitting on a loss. Or pretty damn close to it.

      • Fib1618

        Realist…

        The IQD opened up in 2004 at around 1600 to 1. I’m not at my computer so I don’t have the exact number, but that’s pretty close. So in 10 years they’ve moved the rate up roughly 40%. If you factor in the dealer buy/sell spreads and 10 years of inflation… even the first investors are sitting on a loss. Or pretty damn close to it.

  • Greg C

    Hide and watch. It’s not a scam. If you would read what is being said in the Iraqi media and direct from the Central bank of Iraq, the dinar will increase in value making it probably the best investment the world has even seen. And I personally believe this will happen in the next 60 days.

    • Fib1618

      60 days, eh? Haha!! How many times have I heard that over the years? Probably 10,000 times.

      Your boy Okie has been lying to you bro.
      Big rv’s aren’t real. You have been scammed.

      I’m sorry.

      Really. 😏

  • Rockinginthefreeworld

    I would love to see one of the Anti Dinar crowd get in the face of a member of the CBI and tell them the currency will never gain in value and that Iraq’s currency is just a scam, would love to see it. all you have to do is watch what Iraq is doing and you can see what is trending, they want and have many many times stated they are going to add value to the currency OUTSIDE of redenomination.

    • Fib1618

      I can see what is “TRENDING”… I’ve been watching their massive money supply up trending year after freakin year.

      Go rv. 📈

      • Rockinginthefreeworld

        You simply don’t know what to look for, thats on you. If I were you, I would not go around and state you don’t see anything “trending” in Iraq.
        you don’t want to make it obvious how stupid you are, at least try to hide it.

    • Bella Batalli

      There is so much Dinar in circulation that its not possible for it to significantly gain in value. That would mean iraq would have more money than the rest of the world put together 5x over. Checkout a free book on amazon called confessions of a dinar dealer, it will set you striaght. i was a believer until i read it.

    • Cali

      Rockingthefreeworld, the two points you would like to see someone confront the CBI with are things that no one would ever do because they are not true statements. Let’s look at them:

      1) the currency will never gain in value and
      2) that Iraq’s currency is just a scam

      First of all, Iraq’s currency has been incrementally gaining in value for years now, through appreciation and that will not change. However, it is important that you realize that any increase in the value of the Iraqi dinar will take place through appreciation and not a revaluation. Again, when the “sell” rate went from 1170:1 to 1166:1, through appreciation, that, in and of itself, was an increase in the value of the dinar.

      And secondly, no one on here is saying that the Iraqi dinar, itself, is a scam. As has already been pointed out here, the Iraqi dinar is a legetimate currency of a legitimate country, Iraq. So, therefore, their currency, itself, is not a scam. However, as has also been pointed out here, very clearly, is that the way that the Iraqi dinar is being promoted as an investment that will make everyone rich, including the Iraqi citizen, through a revaluation, that is the scam part and it is totally false.

      We must understand that what Iraq is planning is a Redenomination and not a Revaluation. The article below, from the IMF, gives an excellent description of what a country has to go through in order to redenominate their currency. As you read through this, you will see the steps that Iraq has already gone through or are in the process of going through now, like banking reform, the public campaign, getting bids on new currency printing, creating the design of the new currency, modernizing the current currency, etc.

      The article below highlights the redenomination of the Turkmenistan Manat. The country Turkmenistan is located on the continent of Asia. Neighbouring countries are: Afghanistan, Iran, Kazakhstan & Uzbekistan. Turkey is the first country to recognize the independence of Turkmenistan:

      New Money
      Finance & Development, December 2013, Vol. 50, No. 4

      Introducing a new currency is a complex process—one that Turkmenistan completed successfully.

      “Hyperinflation and exchange rate collapse slash the value of a national currency, forcing the issuance of banknotes in ever higher denominations. In Yugoslavia in 1993, a banknote reached 500 billion dinars, and Zimbabwe’s highest banknote issued was 100,000 trillion Zimbabwe dollars in 2008. In such situations, a redenomination of the currency is not only appropriate but also necessary. Redenominating a currency means administratively changing its face value. In itself, a redenomination makes no one richer or poorer. Technically most redenominations of currencies are undertaken by using factors of 10, 100, or 1,000 and simply moving the decimal point a certain number of steps to the left to establish a new value. Such a change is simple to explain to the general public and easy for companies to implement.”

      “While unifying the exchange rate is important, the authorities must also modernize the national currency for a currency reform to be comprehensive. In Turkmenistan, the modernization entailed issuing a new family of banknotes that were smaller in size than the unnecessarily large old banknotes. It also included the reintroduction of coins. The Turkmen economy had been cash oriented for a long time, and the U.S. dollar was extremely popular. The weakness of the manat to the dollar, which required thousands of manat in an exchange conversion, was deemed unacceptable. One way to correct this was to redenominate the national currency.”

      Money in hand

      “Turkmenistan issued six new banknote denominations on January 1, 2009: 1, 5, 10, 20, 50, and 100 new manat. This was a major expansion of the upper denominations—the previously highest denomination, 10,000 old manat, now corresponded to a mere 2 new manat. The six newly issued banknotes each differed in size and were all shorter and narrower than previous banknotes. The design of the front of the banknotes presented prominent historic Turkmen personalities. The reverse side, as in the past, portrayed new key buildings and monuments of modern Ashgabat, the Turkmen capital.”

      “The next phase of currency reform is the conversion from old cash currency to new. The authorities must decide—at first privately—when the currency exchange will begin, when it will end, and whether or not to cap, in absolute terms, the amount to be exchanged. Then, decisions on the announcement of and publicity for the currency exchange must be made.* Other essential decisions include the conversion rate and how financial assets, resident/nonresident accounts, and existing currency contracts will be treated in the currency exchange.”

      “In line with common international practices, the Turkmen central bank allowed the two sets of banknotes to be circulated during 2009. By 2010, all banks were expected to exchange the old currency for new manat. And after that, the old currency was demonetized and retained only numismatic value.”

      Read more:

      http://www.imf.org/external/pubs/ft/fandd/2013/12/lonnberg.htm

      Note: Notice, the announcement of and publicity for the currency exchange must be made. This information will be available for the entire world to see and will not depend on any secret contact. Until this happens, NOTHING will change. Everything is considered to be in the “planning” stages until it is officially announced by the CBI.

      Below is an article, announcing publicly, the redenomination of the Turkmenistan Manat:

      Turkmenistan Redenominates Currency, Further Dismantles Personality Cult

      By Farangis Najibullah
      January 02, 2009

      “Turkmenistan has redenominated its national currency, the manat, cutting off three zeroes while also removing the image of its autocratic former leader, Saparmurat Niyazov, from all coins and all but one banknote.

      The government says the procedure will strengthen the manat and promote foreign investment. Some Turkmen, however, are anxious about the move, saying any currency change will create more uncertainties in markets and could drive prices up. Turkmenistan’s central bank officially entered the redenominated manats into circulation on January 1.

      President Gurbanguly Berdymukhammedov, speaking on national television, sought to assure his people that, unlike the old currency, the new manats will have a stable value.”

      “Atageldi Garaev, an Ashgabat resident, said he hasn’t noticed any differences in prices, yet. ‘People do not have many concerns about the denomination, unlike during the currency change in Niyazov’s time [in 1993],’ Garaev said. ‘Prices so far remain the same. Markets use two price tags, both the old manat value and the new one.’”

      Read more:

      http://www.rferl.org/content/Turkmenistan_Redenominates_Currency_Further_Dismantles_Niyazov_Personality_Cult/1365812.html

      Turkey also redenominated their currency, the Turkish Lira, and Iraq is planning to use the same model, as their neighbor, Turkey. Below is a document that talks about the Turkish redenomination. Again, I believe you will see the similarities with Iraq.

      The New Turkish Lira (YTL)
      presented by Simge Tarhan

      http://www.econ.umn.edu/~dmiller/The%20New%20Turkish%20Lira.pdf

      Again, there is absolutely no evidence of the revaluation of the Iraqi dinar however, as Mark stated, there is tons of evidence to PROVE a redenomination. Respectfully, it is time to face reality, even if that means having egg on your face… do it and get it over with and move on with life!

      One last note, I too use to fall for the talk of a revaluation, hook, line and sinker! It wasn’t until I started researching information, for myself, that I began to see that there was no evidence or documentation, or anything… anywhere… that could prove a revaluation was even a possibility. In fact, the only place where you will find talk of a “revaluation” is in the dinar community, itself and no where else. And everything that is said concerning an imminent RV, comes from secret contacts, without a shred of evidence… not even the tiniest little bit, except what someone else is SAYING but can never prove.

    • Js

      WOW! YOU CROSSED SO MANY LINES I WOULDNT NO WHERE TO START — I TWEETED THIS LINK TO THE #IMF @lagarde (who by the way is in charge of GRC in fact you tube it for May 2014 and you’ll see lots of links to Christine L — LIKE THE OTHERS SAID EDUCATE YOURSELF!! I CALLED 9NEWS IN DENVER AND THEY HAVE NOTHING ON THE WIRE ABOUT THIS STORY I SENT THEM THE LINK AS WELL AND THEY WILL BE FACT CHECKING WITH THIS NORTH ALABAMA(?) NEWS INTEL TO SEE WHY THIS STORY RAN AND WHO THE CONTACTS AT IMF YOU CLAIM SUPPORT THESE REMARKS ……STAY TUNED!!

  • Fib1618

    Physical currency investment is for mental midgets. Lol The dinar is not undervalued… It is priced right where it should be with it’s STAGGERING 80+ TRILLION UNIT MONEY SUPPLY And $80 – $90 billion in foreign currency reserves. That money supply is the friggin 800ton elephant in the room….Ain’t no getting around that. These folks that think the cbi is going to toss a rate like Kuwait’s on those 80+TRILLION UNITS need to crawl away from the crack pipe. Go dig up Kuwait’s money supply and get a clue. I’m talking to you LADYGRACESDADDY…dontlop, Andrew Reed, jeep guy…. You folks are brain dead. Stop swinging from that pornographer James “Adam Montana” Wolf’s scrotom and wake the hell up already.

    • Rockinginthefreeworld

      First of all Iraq does not have 80 trillion Dinars, that have a reserve worth 80 trillion Dinar, coins, gold, silver, foreign currency, short term deposits, long term deposits, you idiots are getting the countries money supply ( over all value in assets) with the actual note count. you know why? because you know nothing, and have no clue what you are talking about. CBI has stated over and over again the note count vs the over all assets in Iraq (money supply) for some idiotic reason you yahoos can’t separate the two, can’t do anything for you on that , you can’t fix stupid. NOT ONE Shred of evidence Iraq has 80 trillion Dinars floating around. it is NOTE Supply vs Money supply, don’t need a lecture from some dork who can’t tell the difference.

      • Fib1618

        Take a look at the numbers my friend.. Straight from the cbi.

        http://www.cbi.iq/documents/key%20financial.xls

        Their m2 does fluctuate up and down month to month but has gone higher year after year since 04. Their current m2(digital and physical dinar) is actually 78+ TRILLION

        When u combine their currency outside banks number and their vault cash you get a total physical currency number about 40 trillion.

        Those are the facts.

      • Fib1618

        You think money supply is “the overall value in assets”. Lol
        I would expect to hear something like that from a second grader.

        Why don’t you type MONEY SUPPLY into a good internet search engine and educate yourself.

        How embarrassing.

      • Fib1618

        Please say “note supply” one more time so I can once again drop to the floor in a fit of laughter.

        Damn you’re a hoot.

        Lmao

      • Fib1618

        Please say “note supply” one more time so I can once again collapse to the floor in a fit of laughter.

        Man you’re a hoot.

        😄😂😂😂

      • Rockinginthefreeworld

        MONEY SUPPLY M4 | Notes
        Money Supply is the aggregate amount of monetary assets available in a country at a specific time.

        Money Supply M0 and M1, also known as narrow money, includes coins and notes in circulation and other assets that are easily convertible into cash. Money Supply M2 includes M1 plus short-term time deposits in banks. Money Supply M3 includes M2 plus longer-term time deposits. Money Supply includes M3 plus other deposits. And the term broad money is used to describe Money Supply M2, M3 or M4.

    • Rockinginthefreeworld

      WRONG WRONG WRONG!!!!!!!!!!!

      there is a major error here, I think you guys don’t understand.
      Any country that puts out a report and you want to know the NOTE supply vs the over all assets you will find those numbers in the M0-M1

      MONEY SUPPLY M0 | Notes
      Money Supply is the aggregate amount of monetary ASSETS available in a country at a specific time.

      This is where you will find the note supply READ carefully
      The CBI has talked about three numbers that have to do with amount of notes and not once did they mix it in with the overall M4

      Money Supply M0 and M1, also known as NARROW money, includes “COINS and NOTES in circulation” and other assets that are easily convertible into cash.

      Money Supply M2 includes M1 plus short-term time deposits in banks.

      Money Supply M3 includes M2 plus longer-term time deposits. Money Supply includes M3 plus other deposits. And the term broad money is used to describe Money Supply M2, M3 or M4.

      This anti Dinar crowd are the only people I know of on this planet who do not read this correctly, again thats on you.

      it is not DIGITAL Dinar it is as stated, coins and notes
      next up OTHER assets (notice NOT coins and notes) that are easily convertible into cash. ( gold, silver, foreign currency and other type ASSETS)

      next up M2 M1 + short term time deposits in banks
      I personally have thousands of us dollars in Iraqi banks ( not dinars)

      next up M3 M1+ M2 + plus other deposits

      the M4 is the term you use for overall Money Supply

      again CBI has released 3 different Reports for the note count
      can you yahoos guess what those numbers are?

      again don’t need a lecture from a nit wit on how the M4 works you guys are the only morons who I have seen get this mixed up, and I mean with any countries money supply, never seen a ignorant crowd like you guys before. even if you don’t think the dinar is going to go up in value you still have the note supply vs money supply WRONG, get a clue.

    • mel

      Lol, it’s funny how you would know their screen names….unless you have been on that site? LMAO!

  • Mike Diston

    Rockinginthefreeworld&Greg C are a couple of clowns who the dealers love. You talk about garbage like they are facts and spew your angry responses like kid that doesn’t get there way. Unless your going over to Iraq anytime soon you can take your dinar and burn them because after they do RD they will be worthless anyways idiots

    • Rockinginthefreeworld

      Yeah thats what it is, has nothing to do with people have made money investing in Iraq, should we stay in the US dollar genius? the USD has lost 17% of it’s value since 2008. people are looking how the note supply of other countries are being treated, and also looking at what backs those notes, thats all it is, has nothing to do with pumping, or working with a dealer. I am sure it is convenient when you don’t know what you are talking about to make such claims eh.

      • Fib1618

        U got the English version of this? What the hell u talking about? It’s like I stumbled upon a babbling toddler. I mean seriously. 😳😳😳

      • Bella Batalli

        if you dont like the dollar buy silver or australian dollars. dont invest in physical currency your going to be paying 40% or more on the spread figured both ways so unless the dollar loses 40% your still in the hole.

  • Rockinginthefreeworld

    You are here to argue not talk about facts, thats on you. This anti Dinar
    crowd are the only people I have ever seen to state a countries over all assets M4 are actually notes, or they country’s currency in any way, never have I seen this, that is just a testament to your ignorance. all you guys have to do is keep talking and people will figure you out, just like within the dinar crowd the scammers and people who know nothing about the dinar giving advice, you knuckle heads are in that same category. I am not going to try to stop you from being an idiot because of the remarkably stupid statements you just made.

    The CBI has stated 3 times the Dinar count in Iraq, each time it has changed, they also talked about some of the assets in the M4 that back up the dinar. good luck : )

    • Fib1618

      I don’t know how much more clearly this can be stated… The cbi in their latest update shows an almost 80 trillion m2..that’s their total money supply. They do not keep an m3 or an m4. About half of their m2 is physical dinar and the other half is digital. Please look at that link I posted, it’s straight from the horses mouth.

  • Rockinginthefreeworld

    LOL, yup, keep it up, keeeeeep explaining, CBI has a targeted note count, and you are a idiot. you being wrong and using the word CLEARLY makes me laugh. have fun with that Money Supply all : )

    • Fib1618

      Where did I say they had a “targeted note count”? I said the central bank of Iraq website clearly shows that they have about 80 trillion total dinar in their money supply roughly 40 trillion digital and 40 trillion physical. That is not the total number of notes for Pete’s sake it’s the total number of currency units. Coming dude they have 25k notes circulating! Think a little.

  • Nuclear Mike

    “Church Groups” make the most susceptible targets for investment scams as the Whitesburg Baptist Church group learned that lesson many years ago.

    Say a final goodbye to your money invested in a Muslim country torn apart by civil war…has anyone from the Ukraine contacted all of you yet at your Sunday school meeting?

  • DWM

    Rokininthestupidworld you claim the 80 Trillion is not the money supply but the note supply but can’t you see the flaw to that? That has got to be one of the stupidest things I have heard anyone say yet! THINK about that, even if those notes were only one Dinar each that would equal the 80 Trillion but since a large part of what’s in circulation are 25,000 Dinars each and the vast majority are over 1,000 each the money supply would actually dwarf that 80 Trillion Dinars if there were indeed 80 Trillion NOTES in existence, this just get’s funnier and funnier!

  • Rockinginthefreeworld

    You guys suck at math for one, two you have no clue on how to read a country’s Money Supply Report.

  • Fib1618

    I think anybody with at least one functioning brain cell can clearly see who the idiot is here. Good grief! This dude’s almost as dense as dv’s dontlop. Lol

  • DWM

    Rokinstupid, THINK about it! Now how about you explain to us how 80 Trillion NOTES can represent less than than 80 Trillion Dinar or are you just going to do like any other Dinar sucker and dodge the issue with childish insults and name calling?

  • Andrew Reed

    Hi fib seems you took a break from the trolling on dinar vets and now your back here with a vengeance. Fibby I got banned from douchbags and baghdad invest for causing too much trouble! I wonder why?

    • DWM

      You didn’t get banned for causing “trouble” you got banned for trolling and disruption with your total nonsense. Don’t try to play the victim here you were exposed time after time but still given the chance to return, more than once, yet you continued to attempt to disrupt until both sites simply gave up on you. You continued to insist nonsense in spite of the indisputable facts presented to and you even managed to debunk some of your own arguments with links that you yourself provided because you clearly did not understand what you were reading! Andrew Reed, AKA DinarBeliever is one of the most ignorant people in this Dinar scam, he has absolutely no pride what-so-ever and his inane (actually comical!) posts are there for anyone to read on both Dinar Douchbags and Baghdad Invest and I urge everyone to read them so they can see for themselves what this clown is really about!

      Nice try Andy but all you are going to do is expose yourself to more ridicule when by people who will see the stupidity you spouted on both those sites, honestly do you REALLY want people to see why you were banned? LOL, like I have asked you before, Don’t you have any pride at all? Why do you want people to laugh at you? That’s exactly what will happen if anyone reads what you have posted!

      • Andrew Reed

        I got accused of using different names under a hidden IP address. I’m not computer savvy so have no clue how to hide my IP address. Baghdad invest allowed the posting of my personal email address and it was made public on his site. That allowed every Tom dick and Harry to falsely post using my email address via proxy hidden IP addresses – that’s why I got banned. Not my actions but other people accross the net!

  • baghdadinvest

    The “Go RV” crowd’s trademark “panic response” (including your own) has been witnessed many times before. It boils down to truth vs “feel-good lies”. At the end of the day, people with facts post the facts. And people without any facts do everything they can to avoid addressing the former.

    Those who choose not to act based on the above article will be the one’s who lose their money.

    WHNT 19 has proven beyond all reasonable doubt that the purchase of Iraqi Dinar for investment purposes is baloney.

    WHNT 19 has inadvertently helped many who were confused with the simple research. The picture is very clear.

    Verdict – Guilty! I

    QD FOR RV PURPOSES IS A SCAM!

  • Andrew Reed

    WHNT19 the main Iraqi TV station in Iraq is al-iraqiya TV. It’s in Arabic but I’m sure with your resources you can get an Arabic translator. They have said on numerous occasions that the Iraqi dinar is grossley undervalued – last night they stated that they will concentrate on the monetary reform after the new government is in place. They even used the word revaluation. Sites like BI and douchbags have got this wrong!

    • DWM

      So Iraqi TV is announcing there is going to be a revaluation of this grossly undervalued currency, so why arn’t the Iraqis and every investor in the world flocking to grab up every Dinar they can? You have been asked this obvious question many times in the past when you post that imaginary Iraqi TV report but you never answer because the fact no one is rushing to buy Dinar shows how wrong you are.

      I CHALLENGE you to explain why there is no frantic rush to buy Dinar if Iraqi TV is announcing a “Revaluation” of this “undervalued Dinar”, come answer instead of dodging or running off to hide again

      • Andrew Reed

        I challenge you to prove my statement wrong by getting someone who speaks Arabic to get al- iraqiya TV station translated usually the afternoon late evening financial news. Dinar uk is completely out of dinar so people accross the world have been buying up the dinar. I also know Iraqis in the uk who are holding/ buying up the dinar.

      • Andrew Reed

        Like I said the Iraqi people I know in the uk watch Kurd sat TV and also al-iraqiya TV – they are holding onto dinars because of what is being said on both channels

      • Mark

        Andrew Reed – “Like I said the Iraqi people I know in the uk watch Kurd sat TV and also al-iraqiya TV – they are holding onto dinars because of what is being said on both channels. I challenge you to prove my statement wrong by getting someone who speaks Arabic to get al- iraqiya TV station translated usually the afternoon late evening financial news. “

        The channel you quoted did NOT say what you claim. And you’ve already been proven wrong before on that issue on two seperate forums. Take your childish scammer lies elsewhere.

    • baghdadinvest

      Andrew, send me a video with them saying revaluation or to do with the dinar and I will have my wife translate it. She is from Iraq.

      I will also get a notarized translation done, if what you are saying is correct.

      No way will you follow through with this. Guaranteed.

      Send me any video – and I will have it turned around in 1 hour.

  • Fib1618

    Andrew,
    No matter what it shows at my DV profile..I was banned for posting links exposing the sleazy con-artist owner of that site Mr. James “Adam Montana” Wolf.

  • DWM

    Here we go with that “Iraqi TV is saying the Dinar is grossly undervalued again” nonsense! Of course only you and your imaginary “translator” have heard that and you have yet to explain why Iraqis are not scrambling to collect up every Dinar they can since the Iraqi Government is telling them it’s “Grossly undervalued”, LOL!

    Folks this is coming from the same guy who bases his belief on his banker “telling” him it’s going to “RV” by saying openly that it’s not BUT, to quote Andy’s own words -”OMG I could tell, nudge-nudge, wink-wink, what he really meant”!

    Yeah Andrew you sure are a credible source of info there, LOL!

  • Andrew Reed

    I’m sorry you got banned fib I actually liked you and enjoyed our arguements. You won’t change my mind on the dinar and whatever the outcome fib I will hopefully buy you a drink someday. I have read everything posted on the net about the gurus and my thinking is pretty much so what! I don’t follow any guru and I concentrate mainly on the Iraqi TV transcripts I get and the Iraqi media news off the net. I am planning on setting up a blog and it would be good for you to come there. I will mainly talk about my experiences related to the speculation of the dinar. I wish you well fib!

    • DWM

      You mean experiences like your banker saying publicly that it won’t revalue but to quote your own words “OMG I could see it in his eyes, nudge-nudge, wink-wink, what he REALLY meant”,

      LOL, you mean THOSE experiences Andy????? LMAO!!!!

    • Andrew Reed

      I challenge you DMW and anyone else to get al-iraqiya TV financial news translated over a period of a month. They will mention its grossley undervalued. Until you do that you have nothing!

  • DWM

    Andrew Reed [QUOTE]“I challenge you to prove my statement wrong by getting someone who speaks Arabic to get al- iraqiya TV station translated usually the afternoon late evening financial news”

    I just did by pointing out that there would be a rush on buying Dinar which there obviously is not! Your assertion the Dinar UK is out of Dinar because there actually is a rush is just as nonsensical as your assertion that Iraq is per-announcing an “RV”! There is NOT any rush to buy up Dinar here or in Iraq and it’s simply insane to try and say there is!

  • Fib1618

    Andrew,
    If Iraqi tv was telling the people the currency is grossly under valued and that they are going to rv… Why is the market rate still lagging at around 1220 to1.

    Dude, I assure I that thing would be hopping like hell on announcements like that.

    Just common sense bro

  • baghdadinvest

    I said it above, I will say it again.

    Give me any video in Arabic and my wife will translate. If it is what he is saying I will then get a notarized translation done.

    Guarantee he doesn’t bring it.

    He is just speaking cheap words as usual.

      • baghdadinvest

        Bella……… Go to Google and type in “notarized translation” then if you wish add Ontario to it and you will find one close to you.

        Rather than provide a document, eg a passport and translate and give my word that it is a correct translation, a certified/notarized translation is the notary vouching for it being credible.

        Some people……….

      • baghdadinvest

        Notary understand Arabic? lol

        That was a joke question…….. because Arabic is spoken by few people right.

  • Andrew Reed

    Baghdad invest I can give you a link to al-iraqiya TV I can’t record it because it’s a live link via the internet. If anyone who is computer savvy can tell me how to record TV via the internet then when my Iraqi friends spots the translation about the dinar I can record it and post it to baghdad invest. BI send me instructions on how to record stuff and I will send the videos to you.

    • baghdadinvest

      What do you think? Me and the wife are going to sit here for the next 5 to 7 days waiting for a revaluation news story to popup on Al-Iraqiya? Are you bonkers?

      She often watches it and never once has she got up and said “babe, we are about to be stupidly rich” (owner of various properties in Baghdad not wads of Dinar under the bed)

      You are the one saying it happens, now prove it.

  • baghdadinvest

    For the benefit of those who are not aware or perhaps even still in the research phase of their investment in the Iraqi Dinar I am going to spell out why we have what we have today.

    Before the war in Iraq the exchange rate was 1 IQD to 3.22 USD with a total of 20 billion dinar x 3.2 equalling 64 billion USD

    What happened next was “Hyper Inflation” – Go here to verify (change dates on chart): http://www.tradingeconomics.com/iraq/inflation-cpi

    Furthermore this breaks it down… year by year.

    Year – Currency outside banks / M0 (Mon. Base) / M2 (Mon. Supply):-

    2004 – 7,163bn COB / 12,219bn M0 / 12,254bn M2
    2005 – 9,133bn COB / 13,795bn M0 / 14,684bn M2
    2006 – 10,968bn COB / 17,521bn M0 / 21,080bn M2
    2007 – 14,232bn COB / 28,808bn M0 / 23,523bn M2
    2008 – 18,493bn COB / 42,859bn M0 / 26,956bn M2
    2009 – 21,776bn COB / 45,270bn M0 / 34,920bn M2
    2010 – 24,342bn COB / 53,810bn M0 / 45,438bn M2
    2011 – 28,287bn COB / 58,698bn M0 / 60,386bn M2
    2012 – 30,594bn COB / 63,391bn M0 / 75,466bn M2
    2013 – 34,492bn COB / 70,904bn M0 / 87,770bn M2

    Iraq prints 4,000x more money over a short period of time.

    Today:

    We now have 87 trillion dinar with an exchange rate of 0.00086.

    Guess what!!!!!!!!!!!!!!!!!!!!!!!!!!

    That 87 trillion dinar x 0.00086 = 75 billion USD!!!!!!!!!!

    That is it.

    So incredibly simple.

    Recap: before war valued at 64 Billion and a decade later valued at 75 billion.

    Nothing else matters. You are being pitched a line that Iraq is going to revalue those 87 trillion dinars to pre war rates!!!! of 3.22.

    Maybe if there were still circa 20 billion dinars and the exchange rate was what it is now. They might have a leg to stand on. But it is not!

    The Iraqi dinar is not undervalued nor in need of a revaluation.

    For those with their feet on the ground this is what they are trying to convince you to believe: Iraq will overnight find 5x planet Earth’s of money or 13,920x Iraqi sized economies to revalue into what they are dreaming of it to be.

    These fools must think the streets of Baghdad are paved with Gold.

    If Iraq announced tomorrow that their 25,000 dinar bills were worth $25,000 who on earth would trade with Iraq??????

    Instead of buying oil from Iraq at $100 a barrel you would be expected tomorrow to pay $100,000 for that very same barrel except you know full well you can pop across the border to Saudi Arabia instead. In other words Iraq priced itself out of the market.

    Did the penny just drop? Wake up moment??

    Thought so.

  • Andrew Reed

    Ok baghdad invest fine – help me with how I can record a live stream from the internet and I will produce the videos for you. You have both my emails if you can help me with that I will provide the proof. I have a windows PC.

    • baghdadinvest

      http://www.techsmith.com/camtasia.html they even give a free 30 day trial.

      Send me the video’s once you have them, you have my email.

      Can’t believe you are expecting me to fall for that one. lol

      Let’s get this straight, you are basically saying Iraqi’s know all about this revaluation as it is mentioned regularly on mainstream television……….. yet no IRAQI ever writes on forums, blogs, twitter, facebook, youtube about why this is delayed 10 years!!!!!!!!!!

      You have a vivid imagination, but not vivid enough to make me think the impossible is possible.

      No Iraqi is excited about the currency of Iraq. None. Just a small chunk of the desperate who are seeking a short-cut to riches though now they have now come to realize that they have been miss-sold, misrepresented, misinformed into thinking this was actually possible.

      Where the hell is Iraq going to find the money to pay 5x planet Earth’s of money or 13,920x Iraqi sized economies???? Where??

  • Andrew Reed

    Thanks for the link baghdad invest I will get started in the next week or two. If I am proven correct will I be unbanned from your site?

    • baghdadinvest

      If you are proven correct, I will give you the website free of charge. Yours to run, close, keep, as you wish.

      That is how confident I am.

      You are trash talking………….again.

  • DWM

    Don’t forget the nonsense that Dinar UK is out of Dinar due to the rush from this report according to Andy, LOL! Never mind that the price has fallen drastically and E-Bay sales listing have skyrocketed, like you said BI he has a vivid imagination, or maybe that should be a delusional imagination!

  • Fib1618

    From realist…

    “The fact is NOONE knows what the future holds for the IQD..unless u can fortell the future. Here is another fact. The Dinar has fluctuated in its rates over the last 10 years. So whos to say it wont keep on keeping on. So many Dinar Scam Article Pumpers keep Pumping these Articles like you know the future. So if you know so much tell us the lottery numbers for next week!!!!!!”

    ………………………

    The IQD opened up in 2004 at around 1600 to 1. I’m not at my computer so I don’t have the exact number, but that’s pretty close. So in 10 years they’ve moved the rate up roughly 40%. If you factor in the dealer buy/sell spreads and 10 years of inflation… even the first investors are sitting on a loss. Or pretty damn close to it.

  • Fib1618

    Realist said…

    “The fact is NOONE knows what the future holds for the IQD..unless u can fortell the future. Here is another fact. The Dinar has fluctuated in its rates over the last 10 years. So whos to say it wont keep on keeping on. So many Dinar Scam Article Pumpers keep Pumping these Articles like you know the future. So if you know so much tell us the lottery numbers for next week!!!!!!”

    ………………………

    The IQD opened up in 2004 at around 1600 to 1. I’m not at my computer so I don’t have the exact number, but that’s pretty close. So in 10 years they’ve moved the rate up roughly 40%. If you factor in the dealer buy/sell spreads and 10 years of inflation… even the first investors are sitting on a loss. Or pretty close to it.

  • Fib1618

    Yeah we don’t know the future… The may lop, they may slowly ease the rate up in tiny increments over a long period of time as inflation dictates and as their foreign currency reserves allow. Or they might just bust out in a full scale civil war who the hell knows…

    ButThere is one thing we do know… Big guru rv’s do not exist and no one is getting rich on this or any other hard currency. Ever.

    • Fib1618

      One last thing lol…

      The dinar outside Iraq is an instrument that their Central Bank has sold over the years, most of it for .00086… Some a little lower.
      The proposition that they would RV is like saying that they would buy it back for .10 to $32, depending on which “guru” you’re listening to.

      Why the hell would they do that???

      Dinar are NOT assets.. They are liabilities.. Raising the value does not increase Iraq’s wealth, it increases their debt.

  • DWM

    “No one knows” is a common Dinar idgit cop-out but just because no one knows what WILL happen does not in any way mean we don’t know what WON’T happen!Due to simple math and common sense we do know FOR A FACT that the Iraqi Dinar WON’T “RV” and make people rich because it’s mathematically and economically impossible and just because we don’t know whether or not they will RD does not change the fact that we know with certainty that they will not “RV”, they can not do the impossible!

  • baghdadinvest

    Forget all the mystical happening (in your head)

    I am solely interested in whether mathematically it is feasible.

    Do you disagree that Iraq is ABLE or even WANTING to charge people overnight for $100 worth of goods eg – a weekly grocery shop – $100,000?????????

    Do you think she could get away with that?

    This is exactly what will happen if an “RV” takes place.

  • DWM

    Yeah, Fib I have been having trouble with posts disappearing into cyberland also!

    Well it looks as if Rockininthestupidworld couldn’t explain how 80 Trillion NOTES could represent less than 80 Trillion Dinar but the problem is that guys like him make these ludicrous statements and some folks just accept it as fact without stopping to think about just how absurd it is. Then there are people like Andy Reed, AKA DinarBeliever, who repeatedly on multiple forums throws out trash like that imaginary TV report that only he and his “translator” seem to be able to hear! The very obvious problems with either of those ridiculous statements, 80 Trillion NOTES instead of money supply and Iraqi TV saying the Dinar is undervalued/about to be revalued, does not seem to faze these guys in the least and they will keep right on repeating it, LOL!

    • Robert Proulx

      Hey man we know iraq has over 90 tons of gold and alot of oil reserves to support the old rate of the dinar of 3.22 to 1$ so stop selling us whacked and negative b.s. about the dinar mr bush even said this is a war that will pay for itself hmmm!

      • baghdadinvest

        Robert – you are full of useless invalid info.

        Iraq has 143 billion barrels of oil. This only equals about 8 percent of the total known oil supply. Compare that to Canada’s 179 billion barrels.
        http://en.wikipedia.org/wiki/Oil_reserves_in_Canada

        Iraq is now the 43rd largest holder of gold reserves globally, having already held 29.8 tonnes as of August 2013. They added an additional 36 tonnes in March worth 1.3 Billion.

        Bullion accounted for less than 2 per cent of Iraq monetary reserves before the latest purchase. By contrast, the US has 70 per cent of its reserves in gold, with Germany, Italy and France all around 65 per cent.

        Again you try to mislead people by saying they have x number of oil.. or x number of gold but you fail to tell people how Iraq will get away with pricing itself at $100,000 for a dvd player, when that dvd player can be purchased for $100 in Dubai.

        We know Iraq has a lot of Oil but we know Canada is not selling goods worth $100 for $100,000 you thicko.

        ##
        Very SIMPLE question
        ##

        Where the hell is Iraq going to find the money to pay 5x planet Earth’s of money or 13,920x Iraqi sized economies?

      • Mark

        Robert Proulx – “Hey man we know iraq has over 90 tons of gold “

        ROFL. 90 tonnes of gold works out to $3.6bn. In order to “back” a $300,000bn “RV”, Iraq wold need 7.5m tons of gold, which is 43x more gold than has ever been mined on the entire planet (including all gold used in jewellery, electronics, etc). Iraqi oil doesn’t “back” the Dinar either. Iraq sells oil for $ then spends those $ on reconstruction.

        It’s guru regurgitated “facts” like yours that show the blatant scam for what it is…

  • rjm

    Ok, so now what? Do you shut your site down??? really no point to keep it up… because you have nothing to offer… accept for uneducated opinions… Let’s take a vote!

  • baghdadinvest

    True, it’s now been proven that the RV will not happen, that is true.

    But still the show goes on and with the many victims now needing recovery from secondary scams such we will focus on naming and shaming the Guru’s who continue to spread disinformation.

    This is only just the start.

    Nothing to offer you, maybe.

    Plenty, thank me every month for asking the question nobody else will

    Where the hell is Iraq going to find the money to pay 5x planet Earth’s of money or 13,920x Iraqi sized economies?

    ____ That is when they say ahhhh I Have been scammed!!

  • DWM

    Here we go with the “Iraq will back the RV with gold” nonsense again!

    90 tons of gold is only about 4 Billion dollars worth (add it up yourself!) and even that is part of the $80 Billion or so backing the nearly 90 Trillion Dinar in circulation! Did it not occur to you that Iraq had to BUY that gold? The gold is simply used as part of their reserves instead of Dollars or any other currency they may hold and is not in addition to the cash reserves backing the money supply, besides it’s only a “drop-in-the-bucket compared to their total reserves!

    Now about that old rate of $3.22 to the dollar, when Iraq’s rate actually was near that amount they had a total money supply of some 20+ BILLION backed by 60+ Billion in reserves (That’s BILLIONS in circulation, not TRILLIONS, just as Kuwait does today) but now due to massive over-printing of the Dinar which caused massive past inflation they have a money supply of nearly 90 TRILLION Dinar backed by only slightly more reserves at around 80 BILLION. The Dinar vs Dollar exchange rate is thousands of times less today (1166-1) because there are now thousands of times more of it in circulation (due to inflation) with only slightly more Dollar reserves backing it as there was then!

    What’s so hard to understand? Iraq has a hyper-inflated currency (just like many other countries) that is valued at exactly where it should be and the ONLY way it can ever be worth what it was in the past is for that huge money supply to be re-denominated/LOPed and a new more valuable currency issued! The old currency that Dinar “investors” hold now will NEVER, EVER be worth significantly more than it is now!

    BTW, Bush NEVER said “the war would pay for itself”! That is a pure BS lie dreamed up by the pumpers/gurus, just like their many other lies, and Bush never said any such thing, I CHALLENGE you to prove otherwise! There are absolutely no links to any recorded text, video or audio of him saying anything remotely alluding to the “war would pay for itself”, this “forum fact” has been around for years yet not ONE SHRED of evidence outside of idiot guru forums exists, why do you think that is? Again I CHALLENGE you to produce evidence of such!!!!

    • Robert Proulx

      Yall just a bunch of u.s humpers dont want to believe that america will lose its fed reserve status that means alot of currencies will be stronger than sthedollar. Also iraq just opened up alot of u.s banks such as j.p morgan and also pizza hut opened over there alot of business and investors too. Even says in the bible iraq or babylon will rise and Everyone in the world willdo business there china, russia all have contracts there. But in reality no one knows the truth the media is controlled by the bankers that own the worlds money so only them not you or I know what the secret plans are so all is just speculation. You dont have the truth and neither do I.

      • Mark

        But not the inflated Iraqi Dinar though. LOL. As for “the RV is real because they’ve just opened up a pizza hut”, well that just hows the level of desperation scam victims are resorting to, to cling to their fantasy…

  • DWM

    Where do people get the goofy idea that 90 tons of gold is even close to enough to support a $1 “RV” of Iraq’s nearly 90 Trillion Dinar money supply even if it were in addition to their Dollar reserves? 90 tons may seem like a staggering amount to us as individuals but compared to the 90 TRILLION Dollars required to “RV” 90 Trillion Dinar to even $1, never mind $3+, that 90 tons of gold would be only a tiny fraction of the amount needed! Besides there are not anywhere near 90 Trillion Dollars in existence on planet Earth so where would Iraq even get those Dollars? LOL, the Dinar idgit reasoning is pure comedy!!!!

  • DWM

    Robert Proulx [QUOTE]

    “Yall just a bunch of u.s humpers dont want to believe that america will lose its fed reserve status that means alot of currencies will be stronger than sthedollar. Also iraq just opened up alot of u.s banks such as j.p morgan and also pizza hut opened over there alot of business and investors too. Even says in the bible iraq or babylon will rise and Everyone in the world willdo business there china, russia all have contracts there. But in reality no one knows the truth the media is controlled by the bankers that own the worlds money so only them not you or I know what the secret plans are so all is just speculation. You dont have the truth and neither do I”

    And there you have it folks, IRREFUTABLE PROOF of the “RV”, a PIZZA HUT has opened, what more proof do we need? Now all we have to wait on is for McDonalds to open and then there will be no stopping it! This just get’s funnier all the time, where doi these guys come up with this non-sense?

  • DWM

    LOL, true to form Robert has done like any other true Dinar scam sucker, he could not logically refute any of the facts presented to him so he automatically (and quite predictably) resorts to name calling and insults, “US Humpers”, etc!

    Robert how about instead of childish insult tactics you simply explain how Iraq can go back to that $3.22 rate with nearly 90 Trillion Dinar in existence? Of course that would mean that Iraq would have a worth of nearly $270 TRILLION ($3.22 X slightly less than 90 Trillion) which is several times more money than exists in all the countries on planet Earth! But of course Iraq has OIL and 90 tons ($4 Billion worth) of GOLD and even better they now have a PIZZA HUT!!! So I suppose we can’t let a simple mathematical impossibility stand in the way, oh nooooo, there are too many delusional dreamers that want to be wealthy and Iraq is desperately searching for a way to make them rich!

    BTW, I am still waiting on proof of Bush’s statement that the war would pay for itself, LOL!

    • Robert Proulx

      Ok like I said I can’t prove a thing im speculator just like you. I do believe bush mentioned a new world order so the world as we know does have to change at some point and the worlds economics are in trouble by debt. Debt to who? The illuminati that has a unlimited supply of printed pieces of paper called money so any country they choose can become an economic power when joined together. So only they know what will happen and they sell us what they want us to believe we just hope to be right. We must also read between the lies. I know one thing would u.s go to war with these countries if there is nothing to gain from it some kind of bigger picture come on now? Truth is Saddam like Kadaffi was planning on selling their ooil in gold dinar instead of the dollar for somenreason you see theres alot of the puzzle pieces missing.ilin

  • DWM

    Robert you need to stop reading that conspiracy non-sense, that BS has been spouted for many years but after the advent of the internet it went ballistic but it’s still BS, believe what you like but you will still be waiting on this “NWO” years from now!

    NONE of that makes any difference anyway, you are still avoiding the fact that it’s simply mathematically impossible and repeating all the bovine excrement you have been fed on those idiot Dinar forums will not change that one iota! I agree that none of us know everything but that does not in any way mean we don’t know ANYTHING! Be logical man, sure we don’t know for certain what Iraq WILL do, they could re-denominate or do nothing at all, but we DO know they will not/can not do the mathematically impossible. Get your head out of the clouds and come down to Earth for a while, LOOK at the numbers! Iraq has around 90 TRILLION Dinar backed by less than 90 BILLION Dollars (including that gold AND the Pizza Hut!) so you do the math yourself and see what you come up with. Surprise!! The value is right where it should be! Look around, take a look at S Korea for example, they have a thriving economy that absolutely dwarfs Iraq’s yet their exchange rate is nearly the same as Iraq’s vs the Dollar! Why is that? Because they too underwent massive inflation exactly as Iraq did and it led to that exchange rate due to the massive over-printing, just as Iraq did! The big difference is that even after getting their inflation under control and building a thriving and diverse economy they did not seem to be bothered by that exchange rate and simply chose to live with it, just as Iraq may very well choose to do in spite of the FACT they are clearly telling the world they intend to re-denominate/LOP.

    You are right about a big conspiracy going on to dupe people but it’s a big conspiracy to pump the Iraqi Dinar to clueless “investors” to dupe them out of their money and THAT sir is the truth of the matter! You need to come to grips with the fact you have been scammed and have bought into a country’s hyper-inflated currency, a fairly common and no different situation that exists in many countries in the world, and you did so based on believing in lies generated by scammers. If you still want to deny the truth that is glaringly obvious by hiding behind “nobody knows” and just ignore the mathematical facts then you are doomed to lose everything you have invested into this. Those scammers are laughing at the stupidity of the suckers who buy into this and the dealers who are getting (have gotten!) rich from this scam are laughing at gullibility of the people who would/will send them real money for this nearly worthless paper, in short they are laughing at YOU and that is a fact!

    How about you go to sites like Dinar Douchbags or Baghdad Invest and see for yourself just who/what these people really are. You may be shocked to find out just who/what it is you have been listening too or better yet you may be more than shocked to see just who/what you have spent your money on!

  • DWM

    Robert, a couple of more points,

    You seem sincere in your beliefs, or at least desperate for support of your position, but doesn’t it bother you at all that you can’t come up with one shred of proof to back up any of the things you have been saying while being presented with links to official documents that show you to be wrong? You admit to not having any proof and try to claim that no one else can prove the opposite either but that’s simply not true! While you can’t back your position with a single piece of verifiable proof those who are debunking this scam have shown irrefutable evidence such as official Iraqi and IMF statements and records plus just simple common sense math.

    You make such statements as “Bush said the war would pay for itself” or that maybe Bush just made some obscure mention of a “New World Order” but don’t you even stop to ask yourself just where it is you heard this BS? You know that you can’t find a single shred of proof that Bush said anything like that yet you want to use it as a “fact” that supports what you so desperately want to believe? Doesn’t it make you stop and think that just maybe something is wrong if you have to resort to that kind of thing to support your position? THINK about what you are trying to say man and take a look around you, if you will look objectively at the facts being presented to you and then compare that to the guru forum non-sense you just might be able to see just what it is everyone is trying to tell you. Or could it be that you, like so many others, already know the truth but are deathly afraid to admit it even to yourself? Are you afraid of having to face family and friends and admit that you scammed and maybe even lured them into the scam?

  • Andrew Reed

    Baghdad invest when I send the videos to you with a typed commentary of what’s said and you verify the info I will gladly take your site off you. I will then ban s£&t shaker ( the Moron of the lopsters and a massive racist). I will keep the other lopsters on and continue discussing the dinar with them. Of course I doubt you will keep to your word and will come up with some excuse like you did when you banned me lol

  • Andrew Reed

    I find it very funny baghdad invest that your site is being hijacked by your own supporters. Your site claims that the isx is a good way to invest in Iraq but your own residents mock anyone who suggests that investing in Iraq is a good investment. You can keep your site I will produce the videos like I kept to my word on the RV report. If you do give me the site I will ban shaker the racist but would keep the other loppers on. Shaker really brings your site down he is nothing but a backward fat racist moron who is probably inbred from the Deep South shake Shake Shake Moron!

  • Andrew Reed

    BI your site has become quite the joke. Even people who suggest that investing in the isx are being mocked something that you advocate. Keep the site – I will keep to my word like I did the RV report.

  • Andrew Reed

    But when I am proven right make sure you ban shaker- the racist backwards cheerleading moron lopster! The rest should stay. The damage these people are doing to your site is laughable the rest of the lopsters should stay! Shake Shake Moron Moron

  • Andrew Reed

    But make sure you ban shaker when I am proved right. He is r a c i s t and nasty and is a complete m o r o n! Shake Shake lol

  • Andrew Reed

    Here is an example of one of BAghdad invest supporters – goes by the name of Dinarck. Remember baghdad invest says it is good to invest in the isx

    Dinarck – Kelly says………….”Iraq has potential”.

    Yeah…….the potential to completely collapse under sectarian violence during civil war while carbombs go off around masked assassins killing government officials using silenced weapons. Not sure that’s a place I would want to invest.

  • DWM

    You mean like the report to show proof to the “Lopsters” why you believe the “RV” is real? You mean like the post where you said, and I am quoting your own words,

    “OMG!!! My friend walked into Halifax yesterday and she was told they don’t trade it. But she could tell by the look in his eyes, nudge-nudge-wink-wink what he “really” meant”,

    STILL LMAO!!! “Nudge-Nudge-Wink-Wink what he really meant”!!!!

    You mean THAT kind of report? I urge anyone that might be thinking that Andrew has even a clue to go read some of his posts at places like Dinarduchbags and Baghdad invest, it’s a real trip and worth it just for the comedy! He deleted his posts on DDB, in an attempt to hide I suppose, but almost all of the quotes are still there, comedy at it’s finest!

    This guy hasn’t a clue!

  • DWM

    testing, testing, the software on this site is the pits, posting a response is a real challenge!

  • baghdadinvest

    Maybe Andrew can answer since every other just runs a mile.

    I am not interested in making small talk with you.

    Where the hell is Iraq going to find the money to pay 5x planet Earth’s of money or 13,920x Iraqi sized economies?

  • DWM

    You mean like the report to show the “Lopsters” why you believe the “RV” is real? You mean like the post where you said, and I am quoting your own words,

    “OMG!!! My friend walked into Halifax yesterday and she was told they don’t trade it. But she could tell by the look in his eyes, nudge-nudge-wink-wink what he “really” meant”,

    STILL LMAO!!! “Nudge-Nudge-W(i)nk-W(i)nk what he really meant”!!!!

    You mean THAT kind of report? I urge anyone that might be thinking that Andrew has even a clue to go read some of his posts at places like Dinarduchbags and Baghdad invest, it’s a real trip and worth it just for the comedy! He deleted his posts on DDB, in an attempt to hide I suppose, but almost all of the quotes are still there, comedy at it’s finest!

    This guy hasn’t a clue!

    I have attempted to post this several times, my appo;logies if it shows up more than once.

  • Andrew Reed

    I’m not gonna run a mile I can’t answer that question BI but I will come back with an answer later on. I do think those numbers are manipulated BI. What’s being said on al iraqiya TV compared to the written figure on the cbi to me don’t make sence. They do say the Iraqi dinar is grossley undervalued on Iraqi TV. But that figure if on the cbi M2 if that is the total money supply of dinars is the fall down bit. I’m attempting to see what happened with Germany’s currency off some old economic books a friend of mine has.

    • baghdadinvest

      “I’m not gonna run a mile I can’t answer that question BI but I will come back with an answer later on.”

      The single most important question…… you can not answer.

      Once you have been able to answer that single question you will finally know that Iraq can not magically charge $100,000 for $100 worth of groceries.

      Or $100,000 for a $100 per night hotel stay.

      Warm Regards!

    • DWM

      Andrew Reed [QUOTE],

      “They do say the Iraqi dinar is grossley undervalued on Iraqi TV”

      No they do not say any such thing and it does not matter how many times you make that ridiculous claim it’s still not true!

      Anyone with at least half a brain still functioning knows there would be a massive run on Dinar if the Iraqi officials actually did say such a thing and it would be the top subject on every Dinar forum on the internet but none of these things are happening! NO ONE except you and your supposed “translator” has heard anything like that because it has never been said on Iraqi TV or anywhere else except for Dinar forums! The street, or black market, rate would skyrocket on such words but it’s still at nearly 1300 to 1 so why is that? You can’t explain that can you?

      Iraqi TV may have, and likely did, refer to the street or market rate of the Dinar being at a low value because they can’t even keep it close to the official rate of 1166 to 1 but that has nothing to do with the official exchange rate!

      You know all this is true Andrew and you know that the street rate is so low in Iraq because even the Iraqis don’t want the Dinar, obviously they take a small loss just to be able to trade it for Dollars, thus the well over 1200 to 1 market rate! Yet you make the goofy claim that Iraqi officials are saying it’s undervalued and needs to be revalued when CLEARLY they are saying no such thing! No one is going to believe your imaginary TV spots because of the obvious lack of interest in the Dinar and the fact that NO ONE else has heard any such thing!

      Ok I understand now, the Iraqis are saying it’s undervalued but at the same time they doing like your banker and going, Nudge-Nudge, Wink-Wink, so we will know what they really mean, is that right?????

      “Nudge-Nudge, Wink-Wink, what he really meant”, LOL, that one was a classic!!!!!

    • Mark

      Andrew Reed – “They do say the Iraqi dinar is grossley undervalued on Iraqi TV”

      No, really, they don’t. Telling the same debunked lies over & over will not make them come true.

  • DWM

    Not sure why this site will not let me post a certain post as I have tried multiple times, there is absolutely no profanity or slurs, racial or any other, in the post so I don’t know why it is being filtered!!

    Let’s see if this posts?

  • DWM

    Andrew,

    You mean like the report to show the “Lopsters” why you believe the “RV” is real? You mean like the post where you said, and I am quoting your own words,

    “OMG!!! My friend walked into Halifax yesterday and she was told they don’t trade it. But she could tell by the look in his eyes, nudge-nudge-wink-wink what he “really” meant”,

    STILL LMAO!!! “N udge, N udge,W ink-W ink what he really meant”!!!!

    You mean THAT kind of report? I urge anyone that might be thinking that Andrew has even a clue to go read some of his posts at places like Dinarduhbags and Baghdad invest, it’s a real trip and worth it just for the comedy! He deleted his posts on DDB, in an attempt to hide I suppose, but almost all of the quotes are still there, comedy at it’s finest!

    This guy hasn’t a clue!

    I have attempted to post this several times, my apologies if it shows up more than once.

    Ok I tried messing with the spelling,

  • Andrew Reed

    Baghdad invest don’t allow your supporters to turn on you and your business. Economics is not a complete science – there are many factors that determines a countries exchange rate. I’m looking into arbitrage which will explain how Iraq can reduce the M numbers

    • Mike Diston

      You just don’t get it Andrew Reed. We post on BI because BI lets us post our negative comments about the RV. I also post on Dinar Detectives which is a pro RV site. But DD doesn’t let everything be posted since when I did a post about the dealers using the gurus as their salesmen it was not posted. You are barred because all you do is try and cause trouble with your BS and not because you’re pro RV stupid Do you get it now fool.

  • DWM

    Andrew do you mean like the report where you said, QUOTE,

    “OMG!!! My friend walked into Halifax yesterday and she was told they don’t trade it. But she could tell by the look in his eyes, n udge-n udge-w ink-w ink what he “really” meant”,

    STILL LMAO!!! “N udge-N udge-W ink-W ink what he really meant”!!!!

    You mean THAT kind of report? I urge anyone that might be thinking that Andrew has even a clue to go read some of his posts at places like Dinarduchbags and Baghdad invest, it’s a real trip and worth it just for the comedy! He deleted his posts on DDB, in an attempt to hide I suppose, but almost all of the quotes are still there, comedy at it’s finest!

    This guy hasn’t a clue!

    I have attempted to post this several times, my appo;logies if it shows up more than once.

    Maybe changing the spelling of certain words might work?

    • DWM

      The filter on this site stinks!

      Andy do you remember saying that little gem in an effort to convince the “Lolpsters” that a banker was saying not to buy Dinar but actually going (the above in your own words) to signal that you should buy Dinar

      Let’s see if this gets by?

  • DWM

    The gist of it is that Andy says he had a friend ask a banker about Dinar and to quote Andy,

    “O M G!!! My friend walked into Halifax yesterday and she was told they don’t trade it. But she could tell by the look in his eyes, nudge-nudge-wink-wink what he “really” meant”,

    • DWM

      That is the sort of reasoning and thinking that Andrew uses and some of us still get a big laugh from the ridiculous, comical actually, posts he has made on other sites. This guy doesn’t have a clue and don’t know which way is up, don’t take my word for it look him up on the sites he is/was on as Andrew Reed/DinarBeliever, the above gem is just a sample of the “reasoning” Andy uses to justify owning Dinar, like I said it’s comical!

  • Richie Franklin

    Oh my..the NWO shills and all around sheeple,are out hot and heavy today.Shills how much are you being paid to bash anything that comes remotely close to the truth?

    Remember guyz..it’s not true unless the media,gooberment,or other authority figure tells me so.Thats why Iraqs dinar will NEVER increase in value.Herp derp de derp I’m so smartical look at me :P

    • Mark

      You wouldn’t know “truth” if someone bashed you over the head with it. LOL. That’s why all of these “how much are you getting paid, blah, blah” posts are all by the same dumb conspiracy shills, who continue to get every prediction they make wrong every day…

      • Richie franklin

        Awww Mark you’re so cute sweetheart ;)
        Why don’t you sheeple and shills tell me again how this can’t happen because the gooberment,media (American and iraqi),and financial ‘experts’ told you so.Go ahead..I need another hearty laugh!

        Poor lemmings never once question who controls the Iraqi/American governments,the media,and other information dissected to the public.I know you poor little deluded darlings;will never be able to believe in anything,until NWO controlled authority figures tell you so.Thats why you’re going to miss this investment,and why you won’t be prepared for what the NWO has planned afterward.

        buh bye now ;)

      • Mark

        Richie franklin – “Why don’t you sheeple and shills tell me again how this can’t happen “

        I know you’re not very good at maths Richie, which is why all you do is sit there and cry your eyes out about some imaginary “paid Illuminati shills” and repeat the same brain dead Alex Jones NWO slogans, but it’s quite simple:-

        Iraq have around $80bn of currency reserves to back $87,000bn Dinar. You do the maths. Oh wait, you can’t – that’s why you got sucked into the scam in the first place…

        A rate of between 1080-1170:1 IS the Dinar’s genuine fair value. All these illiterate people talking about “$3 rates” (including yourself) are completely divorced from reality…

  • Guy Ohlhausen

    Andrew Reed I’m not invested in the Dinar scam but some of my relatives are, they watch and listen to people not educated in currency trading hoping to become rich. You are obviously not educated in Currency trade, but you are attempting to get people to believe in an impossible myth what is your gain in this. You know the dinar will not pay out that’s obvious or it would already have. Let’s be real you must be making money on trying to get people to believe in the impossible which in my opinion is wrong, don’t do that. Get facts before you talk, best practice I think.

    • DWM

      Guy I share your belief that Andrew Reed/DinarBeliever truly knows this thing is a scam, he has been presented with irrefutable proof on other sites and he just runs off and hides or launches into a nonsensical irrelevant subject to avoid the issue (usually apologizing and faking remorse). I have known him for a while and the guy is obviously obsessed with pushing this myth even while knowing full well it’s a farce, what his obsession is based on I don’t know but his posts are so off-the-wall ridiculous that I seriously doubt anyone is paying him. He has said nothing that would convince anyone that this is a sound investment, quite the contrary, his inane posts have served only to show the absurdity of this “investment” and have given the more intelligent posters a golden opportunity to expose some of these more common myths for the nonsense that they most certainly are!

      Take a look at his usual claim of Iraqi TV telling the citizens that the Dinar is undervalued and needs to be “revalued”. When confronted with the absurdity of this imaginary TV broadcast, as evidenced by the fact that not only has not one other person heard about it but interest in Dinar has not changed despite the fact that such news would cause a buying frenzy, he simply ignores the facts and repeats the nonsense!

      Gurus and dealers may talk like idiots but that’s just a put-on, they are smart enough to create and maintain this scam and get rich in the process so they would never be dumb enough to pay someone like Andy to pump Dinar. He has in fact done a bang-up job of showing just how absurd the whole thing is, his posts are very easy to debunk and he has often proven his own arguments wrong with links to sites that he himself provided but had read and clearly mis-understood!

      Andy is a class act that’s for sure but instead of being annoyed by him we actually are indebted to him for hanging in there and bringing these myths out into the open on the un-censored real world forums where they can be clearly debunked for everyone to see.

      • Guy Ohlhausen

        DWM, I have been to DD and have followed yours and others comments and fact finding for about a year now, you guys are great I’ve learned a lot and that’s what I do before I open my mouth about any subject. My family members are following TNT Tony, they are a cult like bunch lol, but does anyone have anything more on his fraud trial it’s pretty vague out there with info? I don’t comment because you guys cover everything pretty thorough but it is entertaining to read the things you and the others talk about with the dinar believers. It’s funny even with my own family how greed can cloud the mind. So thanks again for your insight into this SCAM.

  • truthshall

    http://www.state.gov/e/eb/rls/othr/ics/2013/204661.htm

    2013 Investment Climate Statement
    Bureau of Economic and Business Affairs
    February 2013

    Currency Conversion and Transfer Policies

    The currency of Iraq is the Dinar (IQD – sometimes referred to as the New Iraqi Dinar). Iraqi authorities confirm that in practice there are no restrictions on current and capital transactions involving currency exchange as long as underlying transactions are supported by valid documentation. The International Monetary Fund’s annual publication on Exchange Arrangements and Restrictions states that “restrictions on capital transactions are not enforced; however, documentation and reporting requirements apply.” The National Investment Law contains provisions that, once implemented, would allow investors to maintain Iraqi bank accounts and transfer capital inside or outside of Iraq.

    • Mark

      Which says nothing about the “RV” scam. That’s all you do – copy & paste random articles on Iraq then “pretend” they mean something they don’t…

  • Cali

    Hello… reading the comments here has been very interesting and almost immediately, I see that one of the biggest reasons for disagreements is the use of the term “Revaluation,” itself. Unfortunately, the terms “revaluation” and “redenomination” are two very different things but are used interchangeably, albeit incorrectly. They are not the same thing. This is a little long but I hope it helps to explain to those who are waiting for a revaluation to see why that is not going to happen.

    I know that for some of you, this is nothing new but for some, maybe it will help. We must know the difference between a “Revaluation” and a “Redenomination.” To continue to use the term, incorrectly, will not change its meaning:

    From Wikipedia, the free encyclopedia

    Revaluation means a change of a price of goods or products. This term is specially used as revaluation of a currency, where it means a rise of currency to the relation with a foreign currency in a fixed exchange rate. In floating exchange rate correct term would be appreciation. Altering the face value of a currency without changing its purchasing power is a redenomination, not a revaluation (this is typically accomplished by issuing a new currency with a different, usually lower, face value and a different, usually higher, exchange rate while leaving the old currency unchanged. Then the new replaces the old).

    In general terms, revaluation of a currency is a calculated adjustment to a country’s official exchange rate relative to a chosen baseline. The baseline can be anything from wage rates to the price of gold to a foreign currency. In a fixed exchange rate regime, only a decision by a country’s government (i.e. central bank) can alter the official value of the currency. Contrast to “devaluation”.

    For example, suppose a government has set 10 units of its currency equal to one US dollar. To revalue, the government might change the rate to 9.9 units per dollar. This would result in that currency being slightly more expensive to people buying that currency with U.S. dollars than previously and the US dollar costing slightly less to those buying it with foreign currency.

    en.wikipedia.org/wiki/Revaluation

    And to show how the term is used, incorrectly, even on television, see this video. Iraq’s Monetary Reform is clearly a redenomination, but even the anchors use the term “revaluation” incorrectly:

    CCTV/CNTV This News Broadcast Aired on Sept 8th, 2011

    Note to Andrew: Even if the term “revaluation” was used on Iraqi TV, please know that they are talking about a redenomination and using the term “revaluation” incorrectly.

    Iraq has never made any plans to do a “Revaluation” however, they do have plans for a “Redenomination”, as you can see from the definition above. All of the talk about dropping, or lifting the “three zeros”, WITHOUT increasing the value of the new note, is ALWAYS talk about a redenomination and NOT a revaluation. The fact that people use these terms interchangeably does not make it correct. You also have to consider the fact that Iraq does NOT have a Fixed exchange rate and a revaluation only applies to a country with a Fixed exchange rate. That fact, right there, makes a revaluation improbable. They also do not have a Floating exchange rate, however, any increases in value are made through appreciation. Iraq has what is termed a “de facto” Fixed Exchange Rate, which is not a real fixed exchange rate:

    IMF Country Report No. 13/217
    IRAQ – 2013 ARTICLE IV CONSULTATION

    14. The de facto fixed exchange rate has served Iraq well. The authorities agreed that a stable nominal exchange rate provides a valuable anchor for inflation expectations in an uncertain environment, and intend to continue implementing this policy for the foreseeable future. In the medium term, staff encouraged the authorities to consider creating the conditions which would make possible a move to a more flexible exchange rate policy. Such flexibility could allow a predictable and gradual appreciation of the nominal exchange rate, triggered by strong oil revenues and the Balassa-Samuelson effect, to accommodate a possible real exchange rate appreciation while keeping domestic inflation low.

    Exchange Arrangement

    The CBI has been conducting foreign exchange auction on a daily basis since October 4, 2003. The CBI followed a policy of exchange rate stability which has translated in a de facto peg of the exchange rate since early 2004. However, from November 2006 until end 2008, the CBI allowed the exchange rate to gradually appreciate. As a result, the exchange rate arrangement of Iraq was reclassified to the category of crawling peg effective November 1, 2006. Since the start of 2009, the CBI returned to its earlier policy of maintaining a stable dinar. Consequently, the exchange rate arrangement of Iraq was reclassified effective January 1, 2009 as a stabilized arrangement.

    http://www.imf.org/external/pubs/ft/scr/2013/cr13217.pdf

    Note: remember when the “Sell” rate went from 1170:1 to 1166:1? This was an example of “Appreciation” and is how the dinar will gradually, through controlled mechanicisms, increase in value, over time. But there will not be a revaluation.

    And finally, in the words of Dr. Shabibi, himself… He talks about Iraq’s plan to “Redenominate”, not revalue. Dr. Shabibi answering revaluation and redenomination questions:

    Dr. Shabibi answering revaluation and redenomination questions

    The Monetary Reform plan that Dr. Shabibi helped to create, along with the IMF, for Iraq is still the SAME plan Iraq is using today. As you can see, from the video, Dr. Shabibi addresses the reasons for a “revaluation”, with high inflation being the number 1 reason. However, even at the time of the making of this video, (April 19, 2011) he said that inflation was around 5% and a revaluation was not in the works. And that if inflation continued to rise higher, then they would, at best, revisit the idea of a revaluation. However, as you can see below, directly from the CBI website, the inflation is currently very low. Therefore, a true “revaluation” of the Iraqi dinar is not even a remote possiblity, at this time or in the very near future.

    Economic indicators

    Core inflation (YoY): Nov. 2013 1.27%
    Inflation (YoY): Nov. 2013 2.70%

    http://www.cbi.iq/

    Iraq Said To Be Planning Currency Overhaul, Redenomination

    June 24, 2011

    “BAGHDAD — A senior Iraqi Central Bank adviser says the government has adopted a two-pronged plan to restructure the national currency in order to facilitate large transactions and make government accounts more efficient, RFE/RL’s Radio Free Iraq reports.”

    “Saleh said the monetary-restructuring plan was drawn up with the help of foreign experts and financial institutions, including the International Monetary Fund, of which Iraq has been a member since 1945.”

    “The plan will soon be presented to the cabinet, which is expected to subsequently send a bill to parliament.”

    Read More:

    http://www.rferl.org/content/iraq_said_planning_currency_overhaul_redenomination/24245867.html

    Also, the IMF, while they have no authority to force Iraq to change their exchange rate, has been working very closely with Iraq for monetary reform:

    Statement by the IMF Mission at the Conclusion of a Staff Visit for Iraq
    Press Release No. 14/124
    March 25, 2014

    An IMF mission led by Carlo Sdralevich, Mission Chief for Iraq, visited Amman during the period March19-24 to meet with an official Iraqi delegation led by Acting Minister of Finance, Dr. Safa Al Safi. The mission also met with the Acting Governor of the Central Bank, Dr. Abdul Basit Al Turki Said, and officials from the ministries of finance, planning, and oil, the central Bank, and the Board of Supreme Audit. The IMF team also consulted with representatives of Iraqi private sector and diplomatic community in Amman. The mission reviewed recent macroeconomic developments and the current fiscal and monetary issues. This work will help prepare the 2014 Article IV consultation with Iraq later in the year.

    Read more:

    http://www.imf.org/external/np/sec/pr/2014/pr14124.htm

    Finally, if anyone is concerned about the information being presented here, as being “Old”, this is still the same process that is taking place today… nothing has changed. The Monetary Reform plan was approved by the CBI and presented to the cabinet (of Ministers)…where it still sits today. Perhaps, after the seating of the new government, they may take it up again and the cabinet can finally agree and then present the plan to parliament where it will be voted on.

    Also, contrary to what we are hearing from some, the new lower denoms have NOT been printed and the current 25,000 IQD’s have not been taken off of the streets of Iraq. As you can see, before the new bills can even be printed, parliament must vote the change into law. And now you know that the IMF has nothing to do with a revaluation of the Iraqi currency. I hope this helps. :-)

    • Mark

      Superb post Cali. This is spot on. There are literally dozens of reports on Iraq’s planned redenomination that get censored on “guru” run “RV” sites because they openly contradict the scammers get-rich-quick fantasy…

      • Cali

        Thank you, Mark! All anyone has to do is to watch what is happening in Iraq and they “Should” be able to prove to themselves that all this talk about an “imminent RV” is false. And in light of the fact that those who are trying to convince others that this is about to happen, are doing so with ZERO proof or documentation, but merely what some “secret contact” has told them, is very disheartening.

        I know that we are all responsible for the decisions we make but I also know that no matter what proof is presented, that there is not going to be an “RV”, there will still be those who will continue to buy more dinar and hang on to the bitter end and I can’t help but feel sorry for them.

        It is my sincere hope that what is presented on this page will help to wake people up! And thank you to WHNT news for doing your part. Hopefully, you have helped some to see the truth.

    • Guy Ohlhausen

      Thanks Mike Diston I appreciate the links. I found those also, but can’t find much on his court date on April 30th except that it looks like they keep continuing. I also follow your comments. I can’t believe my family follows Tony, they would probably send him money in prison, thinking he is a martyr set up by the government, then say they don’t lol. I find it amusing tony claims he does this for free, and his followers also claim he does it for free, when I’ve seen the donate button, hilarious. How can people follow uneducated gurus and not listen to experts and others is beyond me. The thought of getting rich quick is just that strong that all reason goes out the window. Wake up people take off the rosy colored glasses and quit throwing your money away to con men who just laugh all the way to the bank with your money lol. Thanks again Mike Diston if anything comes up about Tony I’m sure you will have that and I can find it.

  • DWM

    A common tactic used by delusional “investors”, they read something they clearly do not understand then cherry pick segments that they think supports their position! This DOS article is about business investment in Iraq and has nothing to do with currency speculation! Taken alone that paragraph is confusing at best (as Guy asked what’s your point?) but taken in context with the rest of the article it clearly alludes to currency transactions by American business interests operating in Iraq, it means nothing to a delusional currency “investor” with a pile of pink Iraqi notes stuffed in his/her mattress!!! LOL!!!!

  • DWM

    Well folks it looks as if my multiple attempts to post finally got by the filter if if delayed, my apologies for the duplicate posts, not important I suppose but it was accidental and not an attempt at shouting to make a point.

  • Mark Johnson

    Dinari investing is justlike investing in yen pesos or gold it’s not a scam just poor choice of investing. You make a lot more than those will make you in other investments, like mutual funds

    • DWM

      No Mark it is not, in the case of Yen or Pesos you do not invest in the physical currency but rather in large blocks on Forex where any profit is made (or lost!) by extremely small changes and where buying/selling can be quickly. Not so with physical Dinar where much smaller holdings are traded only through Dinar dealers that charge outrageous fees for both buying and selling! No where are Yen and Pesos marketed by the same means as this Dinar scam nor at the outrageously high fees charged by the dealers, it’s simply absurd to compare the Dinar scam with legitimate Forex trading! With Dinar through the only means of selling back, even if the original Dinar was obtained at a good rate, it would be impossible to make a profit over and above the extremely high fees based on any amount of increase in exchange rate that is economically possible.

      Besides no one is saying the Dinar itself is a scam, obviously it’s not because it is the legitimate currency of Iraq and perfectly legal to own and sell. The scam is, and make no mistake it IS A SCAM, is the lies being told to trick people into thinking they will get rich by buying into this mythical and totally impossible “RV” where they are certain to lose their money. The currency itself is perfectly legit but the way it is being sold is the scam!

  • DWM

    It’s about time for the usual accusations that this TV report and all of us calling out the scam are payed Government shills trying to get people to sell their Dinar before the big “RV” hits, I am surprised it hasn’t happened already!

    Dinarians have some really dumb reasons to ignore facts being presented to them and that particular, and very popular, one is one of the dumbest! Let’s look at this extremely popular myth that both the U.S. and Iraqi Governments are trying to get people to sell their Dinar, first we must ask the obvious question of just who would these people sell to if they become convinced to sell? You can’t sell it back to Iraq because there is no avenue to do so, besides Iraq doesn’t want it back anyway, the U.S. treasury won’t take it and in fact Government agencies are warning it’s a scam! The only way to sell Dinar once it’s in the hands of “investors” is for them to either sell it to another sucker or back to a dealer who will in turn sell it right back into the sucker market so the only thing that changes is the face and name of the owner, there is no possible benefit to either the U.S. or Iraqi Governments so why would they care if you sell or not?

    The fact is the Iraqis don’t want this currency back, it has been a windfall for them and very profitable because they received good U.S. Dollars and other solid currencies in exchange for their paper that they can’t even get their own citizens to want to use! They brought in hundreds of Millions if not Billions of $ for this paper and all they had to do was look the other way while Bales and Bales of 25,000 Dinar notes were slipped out of the country! As long as that Dinar remains out of the country it amounts to free money for Iraq, outside of Iraq it is nothing but worthless paper. So instead of Iraq wanting this paper back and plotting to get “investors” to sell out they actually want just the opposite and quite likely will make it extremely hard to get back into the country (they can legally do so, read the banking laws, and in fact did did close the boarders twice in the past during currency exchanges) when this nonsense finally collapses and people start trying to cut their loses.

  • Guy Ohlhausen

    DWM, my son was in Iraq twice deployed when I told him about the dinar scam he laughed and said the iraqi people would give you all their dinar for US dollars because they didn’t want the dinars it was useless to them. How funny it is that the iraqi people are more intelligent than dinarians lol.

    • DWM

      Yes Guy it is quite funny that American suckers will hoard this worthless paper and dream of riches while Iraqis simply laugh at them for being so gullible! An Iraqi family lives in my community and the man manages the convenience store where I buy most of my gasoline, we have gotten acquainted and often get a good laugh out of this ridiculous scam! It’s gotten to be a joke anymore that when I come in to pay I sometimes tell him I am out of Dinar and ask him if he would be willing to take Dollars instead, he just laughs and jokes about Americans thinking old newspapers can be used for money!

      These people know full well the Dinar is worthless here and worth only a small amount in Iraq and they are simply astounded that so many people could be so gullible.

  • DWM

    If you are following the likes of Lindsey Williams there is no hope for you! The Global Currency Reset is a bigger hoax than the Iraqi Dinar scam and it’s you sir who needs to do some checking around!, LOL!

  • truthshall

    The Iraqis have used the dinar so much of it is worn out. That’s one of the reasons they will be bringing in the new currency, stronger and more forge proof. April 8, 2014 the Central Bank of Iraq announced for reprinting the current series of banknotes Iraqi using good quality of paper signs with the addition of new security and insert points and characters and phrases, dates and decorations. They will be bringing out coins also.

    • Mark

      truthshall – “The Iraqis have used the dinar so much of it is worn out”

      You do realize the CBI prints more money each year anyway, right? And the fact Iraq is replacing 25,000 banknotes with… 25,000 Dinar banknotes openly debunks the silly “RV”. All they’re doing is reprinting the same denomination banknotes just with better security features. That = zero change in value.

  • Guy Ohlhausen

    Truthshall, that’s still not going to change the value of their over printed money. That’s the facts!!!

  • Mike Diston

    This is some tweets from a former dinar believer after seeing this broadcast Al Aziz ‏Al Aziz ‏@Azizal1055 May 11
    HAPPY MOTHERS DAY 2 ALL U MOTHERS U THINK IM YOUR ENEMY BUT REALLY IM YOUR FRIEND #wearethepeople ALL WILL C THAT IN THE END Melanie Szymborski ‏@MelanieSzymbors May 11
    @Azizal1055 Thank you!! Know u don’t like Dinar but sometimes you take risk! I could throw $$ in stock market & it could crash next day @Azizal1055 May 11
    @MelanieSzymbors Im not against anybody who invests in dinar Im against the gurus who lie 2 get ppl 2 buy more thinking they will b rich
    @Azizal1055 I actually heard about Dinar from a financial planner of 30 yrs. He told me about it last year. I just heard of Tony 3 mons ago He was right about gold & silver, buy stock in crash 2008, sell it now. But Dinar seems like gamble, maybe wrong on this one. Alaziz http://whnt.com/2014/05/09/iraqi-dinar-investment-fact-or-fiction/#comment-35822 … IT TELLS U EVERYTHING U NEED 2 KNOW #THE_TNT_TEAM Melanie Szymborski ‏@MelanieSzymbors 4h
    @Azizal1055 Aww man…good thing I have other investments!! And didn’t go overboard with Dinar. But it’s nice to dream! ANOTHER ONE AWAKENED TO THE DINAR SCAM. I TOLD HER TO GET RID OF HER FINANCIAL ADVISER LOL

  • DWM

    LOL, “Financial planner of 30 years”, how many times have we heard that one? It’s a common (and quite obviously B-S) excuse for buying into this scam, if any “financial planner” in the country made any references at all to Dinar it would be that it’s a scam and to stay away from it! ANYONE that knows Jack about finances or just money in general knows better than to fall for this scam, only someone totally ignorant to how money works would fall for this nonsense!

    • Mark

      What’s your point other than quoting articles that verify that Iraq are replacing currency with identical value currency that openly debunks the “RV”?…

      • truthshall

        Replacing the currency shows that the dinar is stronger then ever. The old and new will run side by side. It’s not for us to say whether there will be a revaluation. Only the Central Bank of Iraq knows.

      • Mark

        truthshall – “Replacing the currency shows that the dinar is stronger then ever.”

        No it doesn’t. It has zero impact on the Dinar’s value.

        truthshall – “The old and new will run side by side.”

        Yes, until the old get demonetized as Iraq have already stated…

        truthshall – “It’s not for us to say whether there will be a revaluation.”

        Iraq have already stated what they’ll do (redenominate / lop 3 zeros). The only people still pleading ignorance are the “Hopium” addicted scam victims in denial…

    • Cali

      Truthshall…The article cited uses “coins” in the headline, which is misleading since the entire article is about banknotes. Here is another article which correctly translates the title:

      Iraq’s new banknotes include stronger security features

      2014-04-23 By Khalid al-Taie in Baghdad

      The Central Bank of Iraq is replacing Iraqi banknotes with new ones containing additional security features to make the currency more difficult to counterfeit, it announced last week.

      The bank has reprinted small denomination paper banknotes (250, 500 and 1,000 Iraqi dinars) as well as larger denominations (5,000, 10,000, and 25,000 dinars), the bank’s treasury director Ihsan Shamran al-Yasseri told Mawtani.

      “The new currency, of which the small value ones have been offered for circulation, is not much different in form from the notes currently being used by the public,” he said. “But these are infused with safer and more effective technical specifications containing security symbols and many technical characteristics that will give the notes longer life and make it difficult or almost impossible to counterfeit.”

      Read More:

      http://mawtani.al-shorfa.com/en_GB/articles/iii/features/2014/04/23/feature-01?change_locale=true

      Also, you will notice, the denominations that are being re-printed, with new security features, are the same exact denominations that are currently in circulation in Iraq. This has no direct bearing on the redenomination, with the exception that it is a modernization of the current national currency and will help to establish confidence in the local currency. And it has zero to do with a revaluation.

      As stated by MP Ibrahim al-Rikaby, in the article above, “the renewal of the banknotes is a good step towards achieving currency reform.” The redenomination of the Iraqi dinar IS the currency reform plan that Iraq is working on. And as stated by the IMF, modernizing and updating the national currency is also one of the steps to be taken towards currency reform:

      New Money
      Finance & Development, December 2013, Vol. 50, No. 4

      While unifying the exchange rate is important, the authorities must also modernize the national currency for a currency reform to be comprehensive.

      http://www.imf.org/external/pubs/ft/fandd/2013/12/lonnberg.htm

      Otherwise, as mentioned here, the issuance of new dinars it is just like what the U.S. did when they introduced the “new” $100 bill. The “new” bill has more security features but the value remains the same.

      The term “new” only refers to a crisp, new dinar, much like we would say about the dollar… when new dollar bills are issued, and that’s all. If you look at the CBI website, you will notice that the Central Bank is just issuing new dinar, of the same denominations that already exist. By law, they can only issue new dinar that is in the same denominations that already esixt:

      Banknotes and Coins

      http://www.cbi.iq/index.php?pid=Banknotes

      Also, remember that until new legislation is approved, which is what will be required to do the redenomination, the CBI is still legally following the laws established by the Coalitional Provisional Authority (CPA), back in 2003, which gives them the authority to re-print current denominations, without new legislation. This is also why the dinar banknotes, that are currrently being used are over 10 years old and worn out.

      Coalition Provisional Authority (CPA) Order # 43

      CPA/ORD/14 October 2003/43

      Section 3 – Issue of New Iraqi Dinar Banknotes

      1) The CBI is, pursuant to Article 34 of the Central Bank of Iraq Law No. 64 of 1976, as amended, the sole authority in the Republic of Iraq vested with the power to issue legal tender currency. The CBI, under the supervision of the CPA, shall issue New Iraqi dinar banknotes and determine the denominations, designs, technical specifications, and other characteristics of New Iraqi dinar banknotes.

      http://www.iraqcoalition.org/regulations/20031014_CPAORD_43_New_Iraqi_Dinar_Banknotes.pdf

      And although this law pertained to the dinar that is currently legal tender in Iraq, the same dinar that dinar holders have today, this is still the ONLY law that exist for the CBI. That is why when the CBI gets ready to redenominate the dinar and actually print currency in “New Denominations,” with the three zero’s gone, this will not be business as usual and must be approved by parliament, requiring a new law. But up until then, without a change in the Iraqi law, the CBI can only issue new dinars that are in the same denomination that currently exist today.

      Also see the Central Bank Law:

      COALITION PROVISIONAL AUTHORITY ORDER NUMBER 56
      CENTRAL BANK LAW

      CPA/ORD/1 March 2004/56

      Section 2 – Central Bank Law

      The Central Bank of Iraq Law attached to this Order in Annex A shall have the full force and effect of law.

      http://www.iraqcoalition.org/regulations/20040306_CPAORD_56_Central_Bank_Law_with_Annex.pdf

      CBI Law Annex A

      See: Section 7 – Currency

      http://www.cbi.iq/documents/CBILAW-EN_f.pdf

      You will notice that “Annex A” is still the CBI Law on their website. Prior to the redenomination, Iraq will gradually exchange all of their current legal banknotes, for the more modernized version, following the law above, in equivalent amounts. They will eventually destroy, not demonetize, the older dinar banknotes. Both the older dinar banknotes and the newer dinar banknotes, of the same denominations, will co-exist until the older dinar banknotes have all been destroyed.

      While the primary purpose of introducing these modernized dinar is to make the currency more difficult to counterfeit, this will also solve the problem of the older, worn out dinar that are currently in circulation, in Iraq.

      Until a new law is passed and they are ready to redenominate the currency by printing completely new currency, in new denominations, all the CBI can do is continue to update the current denominations.

      When the new law is passed, the CBI will then print the new “lower denoms,” without the three zero’s. These will be the new “lower denoms” that have been referred to, not the current two zero notes, the 250 and 500 dinar notes. This is also when the “old” 25,000 dinar note will have the same value as the “new” redenominated 25 dinar note. It is at this point that the “old” and “new” (denomination, wise) dinar will co-exist for a specified period of time. Then the three zero notes will be completely demonetized and destroyed. They will no longer be legal tender in Iraq or anywhere else.

      Please know that until a new law is passed, allowing the CBI to print currency in new denominations, other than what is already considered legal tender, then they are merely updating the current currency and nothing else.

    • Cali

      I apologize if this post appears more than once. The original has been waiting moderation for two days now, so I am trying again….

      Truthshall…The article cited above, uses “coins” in the headline, which is misleading since the entire article is about banknotes. Here is another article which correctly translates the title:

      Iraq’s new banknotes include stronger security features

      2014-04-23 By Khalid al-Taie in Baghdad

      The Central Bank of Iraq is replacing Iraqi banknotes with new ones containing additional security features to make the currency more difficult to counterfeit, it announced last week.

      The bank has reprinted small denomination paper banknotes (250, 500 and 1,000 Iraqi dinars) as well as larger denominations (5,000, 10,000, and 25,000 dinars), the bank’s treasury director Ihsan Shamran al-Yasseri told Mawtani.

      “The new currency, of which the small value ones have been offered for circulation, is not much different in form from the notes currently being used by the public,” he said. “But these are infused with safer and more effective technical specifications containing security symbols and many technical characteristics that will give the notes longer life and make it difficult or almost impossible to counterfeit.”

      Read More:

      http://mawtani.al-shorfa.com/en_GB/articles/iii/features/2014/04/23/feature-01?change_locale=true

      Also, you will notice, the denominations that are being re-printed, with new security features, are the same exact denominations that are currently in circulation in Iraq. This has no direct bearing on the redenomination, with the exception that it is a modernization of the current national currency and will help to establish confidence in the local currency. And it has zero to do with a revaluation.

      As stated by MP Ibrahim al-Rikaby, in the article above, “the renewal of the banknotes is a good step towards achieving currency reform.” The redenomination of the Iraqi dinar IS the currency reform plan that Iraq is working on. And as stated by the IMF, modernizing and updating the national currency is also one of the steps to be taken towards currency reform:

      New Money
      Finance & Development, December 2013, Vol. 50, No. 4

      While unifying the exchange rate is important, the authorities must also modernize the national currency for a currency reform to be comprehensive.

      http://www.imf.org/external/pubs/ft/fandd/2013/12/lonnberg.htm

      Otherwise, as mentioned here, the issuance of new dinars is just like what the U.S. did when they introduced the “new” $100 bill. The “new” bill has more security features but the value remains the same.

      The term “new” only refers to a crisp, new dinar, much like we would say about the dollar… when new dollar bills are issued, and that’s all. If you look at the CBI website, you will notice that the Central Bank is just issuing new dinar, of the same denominations that already exist. By law, they can only issue new dinar that is in the same denominations that already exist:

      Banknotes and Coins

      http://www.cbi.iq/index.php?pid=Banknotes

      Also, remember that until new legislation is approved, which is what will be required to do the redenomination, the CBI is still legally following the laws established by the Coalitional Provisional Authority (CPA), back in 2003, which gives them the authority to re-print current denominations, without new legislation. This is also why the dinar banknotes, that are currently being used are over 10 years old and worn out.

      Coalition Provisional Authority (CPA) Order # 43

      CPA/ORD/14 October 2003/43

      Section 3 – Issue of New Iraqi Dinar Banknotes

      1) The CBI is, pursuant to Article 34 of the Central Bank of Iraq Law No. 64 of 1976, as amended, the sole authority in the Republic of Iraq vested with the power to issue legal tender currency. The CBI, under the supervision of the CPA, shall issue New Iraqi dinar banknotes and determine the denominations, designs, technical specifications, and other characteristics of New Iraqi dinar banknotes.

      http://www.iraqcoalition.org/regulations/20031014_CPAORD_43_New_Iraqi_Dinar_Banknotes.pdf

      And although this law pertained to the dinar that is currently legal tender in Iraq, the same dinar that dinar holders have today, this is still the ONLY law that exist for the CBI. That is why when the CBI gets ready to redenominate the dinar and actually print currency in “New Denominations,” with the three zero’s gone, this will not be business as usual and must be approved by parliament, requiring a new law. But up until then, without a change in the Iraqi law, the CBI can only issue new dinars that are in the same denomination that currently exist today.

      Also see the Central Bank Law:

      COALITION PROVISIONAL AUTHORITY ORDER NUMBER 56
      CENTRAL BANK LAW

      CPA/ORD/1 March 2004/56

      Section 2 – Central Bank Law

      The Central Bank of Iraq Law attached to this Order in Annex A shall have the full force and effect of law.

      http://www.iraqcoalition.org/regulations/20040306_CPAORD_56_Central_Bank_Law_with_Annex.pdf

      CBI Law Annex A

      See: Section 7 – Currency

      http://www.cbi.iq/documents/CBILAW-EN_f.pdf

      You will notice that “Annex A” is still the CBI Law on their website. Prior to the redenomination, Iraq will gradually exchange all of their current legal banknotes, for the more modernized version, following the law above, in equivalent amounts. They will eventually destroy, not demonetize, the older dinar banknotes. Both the older dinar banknotes and the newer dinar banknotes, of the same denominations, will co-exist until the older dinar banknotes have all been destroyed.

      While the primary purpose of introducing these modernized dinar is to make the currency more difficult to counterfeit, this will also solve the problem of the older, worn out dinar that are currently in circulation, in Iraq.

      Until a new law is passed and they are ready to redenominate the currency by printing completely new currency, in new denominations, all the CBI can do is continue to update the current denominations.

      When the new law is passed, the CBI will then print the new “lower denoms,” without the three zero’s. These will be the new “lower denoms” that have been referred to, not the current two zero notes, the 250 and 500 dinar notes. This is also when the “old” 25,000 dinar note will have the same value as the “new” redenominated 25 dinar note. It is at this point that the “old” and “new” (denomination, wise) dinar will co-exist for a specified period of time. Then the three zero notes will be completely demonetized and destroyed. They will no longer be legal tender in Iraq or anywhere else.

      Please know that until a new law is passed, allowing the CBI to print currency in new denominations, other than what is already considered legal tender, then they are merely updating the current currency and nothing else.

    • DWM

      Only the brain dead.

      This a scam, has been from the start and always will be. There is NOTHING you can point to supports this economically and mathematically impossible “event”, just guru spew and lies while those debunking it point to facts supported by official documents, simple math and just plain old common sense!

      “RVs” are not real, they don’t happen, never have in the past and never will in the future because currency simply does not work that way. This whole “RV” idea was invented by the idiot gurus like Oki Oilman and his kind for the sole purpose of duping unwitting “investors” out of their money! Look at the history of it, at first it started with servicemen bringing home Iraqi currency and there was a rumor that the U.S. would rebuild Iraq and their economy would thrive leading to a valuable currency instead of the nearly worthless paper they had at the time. Everyone that heard of it wanted in on it (well a heck of a lot of people anyway) and as is always the case when a market for something springs up so do enterprising individuals trying to make money from it, as soon as it was realized they was a huge demand building for this worthless paper the con artists descended like locusts then the lies and pumping started! At first it was nearly believable and returns were seemingly more reasonable with projections of 10 cents or so but as is usually the case with lies the more it was talked about the bigger it got, then someone invented the “Big RV” that was supposed to “revalue” the Iraqi Dinar to it’s earlier value, the rest is history! Long story short, there is no “RV” in the making and there never was it is nothing but a con man generated scam and that’s what it always will be!

    • Cali

      “Of course the notes are the same in value. That is until the CBI changes their exchange rate, and only they know when they will do that, not us. We can only speculate. No where on my link for Iraq’s money supply do I see the word trillion. I do however, see billion. I choose to take the dinar chance…End of My Story.”

      truthshall… it sounds like you are confusing the ordinary, updating of the current Iraqi dinar with the redenomination process.

      What Iraq is currently doing is modernizing their national currency. They are doing this for three reasons; 1) to make the current currency harder to counterfeit; 2) to replace the older, worn out dinar that is currently in circulation, and 3) this step is needed to carry out their currency reform, the redenomination.

      Yes, the older current dinar will co-exist with the newly printed dinar, of the same denominations, and gradually, the older, easily counterfieted dinar will be destroyed, not demonitized. The demonitization of the current three zero notes, including the newly printed ones, will not occur until the redenomination; the currency reform.

      Therefore, Iraq changing their exchange rate, in the future, has no bearing on the current value of the three zero dinar notes, both the old and the new. They are merely modernizing the dinar. Not even these new dinar notes will have any value, after the redenomination takes place.

      Once a redenomination occurs, the older three zero notes, along with the newly printed three zero notes, will ALL be demonitized and destroyed.

  • truthshall

    Think outside the box. If only a few are buying dinar. Seems like much to do about nothing. You should make more of a fuss over people buying lotto tickets who outnumber dinar buyers. Me, I don’t care, that’s their freedom of choice.

    • DWM

      It’s you that needs to “think outside” the box because you are caught up in an extremely narrow mined point of view that refuses to look at the realities!

      Let’s examine some of the things you are saying,

      Truthshall, [QUOTE] “The old and new will run side by side.”[UNQUOTE]

      A perfect example of someone reading something they simply don’t understand. That quote is an obvious reference to the many articles where Iraq talks of a re-denomination ( a “LOP”, not a “Revaluation” like Dinar dreamers think) where a new currency is issued at a new rate and will be used side-by-side with the old for a period of time, this is NOT what Iraq has done here! These are just new notes of the old currency and are not in any way a new currency, it is simply a security up-grade of the SAME denomination notes they use today and was solely for security purposes JUST AS THE US DOES ON A REGULAR BASIS!!!

      When actual “New” currency is issued, the currency that will “run side-by-side” with the old, there will be a new value (no you do not get rich when it happens!) and it will have a new ISO code. unless and until you see that new ISO code, and it will be BIG news, then there is no change to the currency except for design changes for security purposes such as in this case. Iraq issues new notes on a regular basis to replace worn out notes just as does every country on Earth but you never hear about it because it’s simply a normal occurrence and is not at all news worthy, this time you heard about it because they made security changes to what is otherwise the exact same denominations of the exact same currency but it is of absolutely no concern to us one way or the other!

      Truthshall, [QUOTE], “It’s not for us to say whether there will be a revaluation.”[UNQUOTE]

      Yes it is “for us to say” that there will not be a “revaluation”, at least in the way Dinar suckers believe! That’s one of the usual Dinar sucker rallying calls, “Nobody knows!” but that’s simply absurd! Of course nobody knows what Iraq WILL do, they may re-denominate or they may not, they may continue on just as they are or they may simply collapse into civil war and cease to exist as we know them today but just as we don’t know those things we DO know with certainty that they CAN NOT do the impossible!

      Why is it so hard for these idiots to understand? This “RV” they are waiting on is not real, it’s nothing more than a guru generated fairytale! “RVs” do not happen, have never happened and never will because they economical and mathematical nonsense! This whole “RV” B-S was dreamed up by con men for the sole purpose of scamming people out of their money.

      Truthshall how about you explain something to us, using your infinite “wisdom”, LOL, explain how Iraq is going to “RV” their nearly 90 Trillion Dinar money supply to an exchange rate of even $1 to 1 Dinar? That would make Iraq’s money supply worth 90 Trillion Dollars or several times more money than exists in all of the countries on planet Earth! Does that make any sense to you? OH but wait! The Gurus have told us that Iraq is reducing their money supply! Do you realize they would have to reduce that 90 TRILLION all the way down to 90 BILLION in order to “RV” even to 1 to 1 rate? Think about that, the gurus are telling you that Iraq is going to remove over 89 TRILLION Dinar from circulation and leave only less than 1/10 of 1 Trillion in circulation so that they can “RV”! Does THAT seem plausible to you? There is an estimated 25 Trillion held by just the Dinar idgits around the world so how would it even be possible? Also how would Iraq run their country as the Dinar has declined without a corresponding rise in unit value (which quite obviously has not happened!)? Why is the blackmarket rate still in the gutter if the Dinar is becoming scarce?

      Of course the answers to these questions are quite simple, they are not reducing the money supply (as the official Iraqi and IMF records clearly show) and there simply is no impossible “RV” planned and there never was! Rather all of this “RV” scenario is nothing more than guru spew of twisted facts, intentionally mis-interpeted articles and just outright lies to steer people away from the obvious but painful truth!

      You are right with your name, the truth SHALL come out sooner or later and then YOU will have to face friends and family, some of whom you may have suckered into this scam, and it’s going to be a very embarrassing situation. You will then clearly see what you already know now but won’t admit even to yourself because it’s hard to accept that the winning mega-bucks lottery ticket you thought you were holding is not a winner after all! The sooner you admit this to yourself and look objectively at the situation the easier it will be for you, the truth is there and if you will wipe the Dollar signs from your eyes you will clearly see it!

  • truthshall

    After all these years, I go on my own knowledge that I have learned from reading, as many others do to make up their own minds. I figured out years ago, there are some crazy gurus out there and it’s hard to believe that people still listen to their blatant lies, but they do. Not all gurus lie. They do their best to interpret what is happening in Iraq knowing that they don’t know all the answers. Today Iraq talked about using a basket of currencies as Kuwait has. The possibilities for the dinar are not narrowly narrowed down to the dinar alone, but a basket of currencies. The old and new currency will run side by side as opposed to cancelling out the old and bringing in the new. Aside from hat, the CBI could decide when and how much they want to raise the rate of the dinar or not. Oh, and I’m not desperate to get rich. I’m rich in the fact that I am living the ‘gift of life’. Of course more money would be nice, but only God’s plan is the plan we are guided by.

    • Mark

      Wrong. From your own link:-

      “78220 IQD Billion” = 78.220 IQD trillion.

      “86474 IQD Billion” = 86.474 IQD trillion.

      Don’t worry, you’re not the only “Dinar investor” who claims to have “done their research” yet still can’t work out basic junior school maths like 1,000 billion = 1 trillion… ;-)

      • DWM

        Truthshall, [QUOTE] “not all gurus lie”[UNQUOTE]

        Of all the dumb things I have heard coming from any delusional “investor” that has to rank right up there with the dumbest of the dumb! LOL!

        Of course they ALL lie! What do you think they are there for, you can’t seriously believe they are actually trying to help people? They can’t possibly know anything to help anyone anyway, the ONLY thing they can do is make up Cr@p to dupe people! Come on man put down the bong long enough to let your head clear a little bit, what could these guys possibly know that is not common knowledge from official sites which shows conclusively that the “RV” is a scam? THINK about it! Even if Iraq did have some big secret plan these guys would not be in on it, good grief man what are you smoking?

        You keep pointing to that new/old currency running side by side but you obviously don’t understand a thing about what you are talking about. Are you so full of hopium from these idiots that you think that means you make money? You can’t be serious! If that scenario does come to pass it means Iraq has issued a new currency (NO THEY HAVE NOT DONE THAT YET!!!!!) with a newer face value and a new ISO code, until you see that new ISO code nothing has changed so get at least that much through your obviously thick head! When that does happen the exchange rates of the notes you hold DO NOT change! The old notes stay the same at the same exchange rate and Dollar value as they are now while the new notes, and ONLY the new notes, will take on the newer better exchange rate! These two different rate notes will exist side-by-side for a period of time until the old expire and become worthless, during that time the new will be worth 1000 times higher exchange rate and old will be exchanged at a rate of 1000 old for 1 new resulting in a no loss/no gain exchange. How many more times do the Iraqi’s have to explain this to people before it sinks in? They have done so in literally dozens of articles in the last 4 years and repeatedly referenced Turkey’s and other country’s RDs as examples of how they intend to do this, YOU DO NOT make any money in this re-denomination/LOP no matter what those “non-lying” gurus are telling you!

        To try to make it clear enough for even you to understand it works this way, the old notes stay at the old rate so a 25,000 Dinar note that is worth about $23 remains at that $23 value. The equivalent new note will be the 25 Dinar note with the three zeros LOPed off and this new 25 Dinar note at the new exchange rate will be worth the SAME $23 as the old 25,000 note is worth. So for new to old note exchange at 1000 old for 1 new (as the iraqi’s have REPEATEDLY explained) this old 25,000 Dinar note worth $23 will exchange even up for a new exchange rate 25 Dinar note that will be worth the same $23 Dollars!

        So theoretically you would break even and neither gain nor lose anything right? So if you aren’t going to lose then why not just hang on and take a wait-an-see stance? Well that break even exchange is just fine and Jim Dandy IF you happen to be inside Iraq to make the exchange! Outside the country you will in all likelihood simply be stuck with the old notes and no way to exchange them them for the new since the only new notes available will be in Iraq, NO ONE will be buying the old notes anymore except for possibly (and even that’s highly doubtful) the same crooks who sold you that worthless paper to start with. But now since getting them back into Iraq will be difficult, and quite likely illegal, they will offer you only a few cents on the Dollar for what you paid for them and will only do that if they can somehow get them back into the country for exchange. Make no mistake, Iraq does not want that paper back! Why on Earth would they? It was free money for them when people was handing them good US Dollars and other solid currencies and taking them back would be nothing but a drain on the profit they made from selling that paper which was completely worthless once it left their boarders, besides they see speculators as vultures waiting to steal Iraqi wealth so they will have no pity for you! The last two times Iraq changed it’s currency, once under Saddam and again during the Bremmer exchange they CLOSED their borders to currency coming back in from the outside except for very limited banking transactions leaving those holding physical Iraqi currency without recourse and there is no reason for them not to do so again, they most likely will because it is to their advantage!

      • DWM

        I am starting to think that maybe this truthshall guy is Andrew Reed, or at least a close relative! Andy is well known for providing links to sites that clearly debunks his own arguments! These guys obviously can’t understand a thing they read and comically debunk their own points with links they themselves provide! Lol, this thing just gets better and better as time goes on!!!!

      • truthshall

        Of course the notes are the same in value. That is until the CBI changes their exchange rate, and only they know when they will do that, not us. We can only speculate. No where on my link for Iraq’s money supply do I see the word trillion. I do however, see billion. I choose to take the dinar chance…End of My Story.

      • Mark

        truthshall – “Of course the notes are the same in value. That is until the CBI changes their exchange rate”

        Which they won’t and can’t do because they still have $80 billion of currency reserves available to “back” 87 trillion Dinar. At most, the “new rate” will be 1050:1, ie, 10% higher, not a retarded 300,000%…

        If the CBI “declared” the Dinar to be worth 1,000x more, they’d now have to back $87,000bn worth of Dinar with $80bn, ie, Iraq would run out of USD & gold and go bankrupt before everyone even “exchanged” 0.1% of their banknotes.

        Again, it’s truly amazing that many high school children understand what their parents don’t with this absurd scam…

        Whether you like it or not, or understand it or not (and you obviously don’t), Iraqi’s on $5,500 annual salaries aren’t going to be walking round with $21,500 banknotes for their weekly grocery shopping to buy $1,200 loaves of bread. LOL. :-D

      • Mark

        truthshall – “No where on my link for Iraq’s money supply do I see the word trillion”

        ROFL. 86 thousand billion IS 86 trillion. If you cannot even figure that out, then you are 100% born for this scam…

      • truthshall

        Ok Mark you made your point, this is correct, but I never said I was good at math LOL. This does not mean they cannot RV in the future imo. ;-)

        “78220 IQD Billion” = 78.220 IQD trillion.

        “86474 IQD Billion” = 86.474 IQD trillion.

      • Mark

        truthshall – “This does not mean they cannot RV in the future imo”

        Yes it does if you understand anything about currencies and how they’re valued against each other…

  • baghdadinvest

    $1,200 loaves of bread – imagine………. the marks actually believe this is going to happen.

    Eg the next Persian tourist into Najaf to buy a kebab is going to pay $700 for it and $45,000 for his hotel room that night.

    The marks have been brainwashed.

    • DWM

      Truthshall, [QUOTE] ” No where on my link for Iraq’s money supply do I see the word trillion. I do however, see billion. I choose to take the dinar chance…End of My Story”

      This is exactly how this scam is perpetuated by twisting facts, you PRETEND you do not see “Trillions” while looking right at it! 1000 Billion is 1 Trillion expressed in a different way thus “86474 IQD Billion” is 86.474 IQD trillion just expressed another way, as was told to you already this is just junior math! Of course you already knew that and while you are claiming to “take a chance” you are really “closing your eyes and pretending!

      Does it not mean a thing to you that you have to pretend you are not seeing Trillions and instead seeing Billions, you are PRETENDING and you full well know that! Does it not mean a thing to you that you have been clearly shown to be wrong on every single point you have tried to make, even by links you yourself provided which you clearly did not understand -or rather chose to ignore!

      • DWM

        THINK about that utterly ludicrous statement that you do not see Trillions but rather Billions!

        Ok so you see 86474 Billions instead of 86.474 Trillion even though it’s EXACTLY the same thing, so in that case Iraq has “only” 86474 Billion Dinar to back with less than 90 Billion Dollars in reserves, now you do the math. 90 Billion backing over 86000 Billion (86474 Billion) how is that different than less than 90 Billion Dollars in reserves backing 86 Trillion (86.474) Dinars?

        How about it, will you enlighten us?

    • DWM

      Truthshall, [QUOTE], “Ok Mark you made your point, this is correct, but I never said I was good at math LOL. This does not mean they cannot RV in the future imo. ;-)

      “78220 IQD Billion” = 78.220 IQD trillion.

      “86474 IQD Billion” = 86.474 IQD trillion.”[UNQUOTE]

      Of course it does!!!!

      You can’t be that dense, or can you? You MUST know they can’t “RV” 86 Trillion Dinar into several times more money value than exists on planet Earth or you wouldn’t have tried to make that 86 Trillion look like 86 Billion. You obviously agree that they can’t “RV” the 86 Trillion now so how can you say that it still does not mean they can’t do it in the future?

      Truthshall, I have not got into name calling and insults because I really don’t approve of that sort of thing but people like you sometimes make words like “Stupid” and “idiot” hard to avoid, do you actually want people to think you are feeble minded? You have successfully gotten 100s of people to do just that! Honestly you DO have people laughing at you and if you would go back and read some of the things you have said then look at it as if someone else had written it I think you would probably see why. Eventually it’s not going to be people laughing where you can’t hear them and if you wait until this thing collapses and you are forced to face the truth you had better have some pretty thick skin and a good sense of humor!

      • truthshall

        DVM…Well, it was good for a laugh wasn’t it? ;-) The jokes on you! ;-) I like to play. ;-) IMO whether next year, 10 years, 20 years from now, and nobody knows except the CBI, I truly believe Iraq will raise the rate of the Iraqi dinar.

  • DWM

    testing, testing

    Not sure why my posts are not showing again?

    There is absolutely no profanity, slurs or obscene statements in that post????

    Let’s see if this posts?

    • DWM

      Well the filter is at it again! Don’t know what is in my post that’s not allowed, there is no profanity or slurs of any kind???? I will try again, hope it doesn’t post multiple times as it did before!

      Truthshall, [QUOTE] ” No where on my link for Iraq’s money supply do I see the word trillion. I do however, see billion. I choose to take the dinar chance…End of My Story”

      This is exactly how this scam is perpetuated by twisting facts, you PRETEND you do not see “Trillions” while looking right at it! 1000 Billion is 1 Trillion expressed in a different way thus “86474 IQD Billion” is 86.474 IQD trillion just expressed another way, as was told to you already this is just junior math! Of course you already knew that and while you are claiming to “take a chance” you are really “closing your eyes and pretending!

      Does it not mean a thing to you that you have to pretend you are not seeing Trillions and instead seeing Billions, you are PRETENDING and you full well know that! Does it not mean a thing to you that you have been clearly shown to be wrong on every single point you have tried to make, even by links you yourself provided which you clearly did not understand -or rather chose to ignore!

      You are not taking a chance since this is not a lottery or an investment of any kind, it’s a scam and nothing more. It’s not a gamble, a long shot of a million to one, a billion to one or even a trillion to one, it is in FACT no shot at all! That’s because this “RV” is not real, it’s nothing but an imaginary event dreamed up to scam people out of their money! No matter how much you want to believe it you actually know better but refuse to admit it to yourself. Open your eyes and look at the things you yourself have posted here and ask yourself why you could so easily have been shown to be wrong on every point and why do you have to pretend to see Billions when when you know full well it’s Trillions? Of course it’s to keep the dream alive but you WILL have to wake up sooner or later and know that so why keep the farce going? The longer you pretend the harder it’s going to be to face the friends and family you will have to admit this to, that’s coming and you know that also so again I ask what’s the point of pretending just as you pretend to see different numbers when you truly know better.

      You can much better save face and maintain some self dignity by showing friends and loved ones that you figured out the farce on your own rather than having it forced upon you when this thing finally collapses, which it thankfully is at last doing as evidenced by the TV reports and even some lawmakers starting to get involved in exposing it. Look around you and ignore the stupid gurus for a change, visit that link suggested above by Mark and look over the entire site, it’s an eyeopener to sat the least! Join the discussion there and talk with some real experts in the field, act civil there as you have done here and you will be treated with respect there and not heckled as is the case on some sites, Sam will NOT allow name calling and disrespectful behavior so come on over and join in, it will help you immensely with dealing in what we both know is surely coming!

      Come on by now you have got to know this is a scam, no one who is capable of carrying on a conversation such as you have is t going to be that dumb and I am sure you are not dumb, just misguided by the gurus! Don’t wait until the lid blows off this thing to admit to friends and relatives what has happened, you can still save face and maintain some dignity by admitting this scam to yourself and those around you before you are forced to and we both know that time is approaching! Some people will become the object of jokes and ridicule by those who tried to warn them and they maybe even will lose friends that the lured into this scam, don’t let that happen to you!

      I have removed the link, maybe that will allow the post.

    • DWM

      You are not taking a chance since this is not a lottery or an investment of any kind, it’s a scam and nothing more. It’s not a gamble, a long shot of a million to one, a billion to one or even a trillion to one, it is in FACT no shot at all! That’s because this “RV” is not real, it’s nothing but an imaginary event dreamed up to scam people out of their money! No matter how much you want to believe it you actually know better but refuse to admit it to yourself. Open your eyes and look at the things you yourself have posted here and ask yourself why you could so easily have been shown to be wrong on every point and why do you have to pretend to see Billions when when you know full well it’s Trillions? Of course it’s to keep the dream alive but you WILL have to wake up sooner or later and know that so why keep the farce going? The longer you pretend the harder it’s going to be to face the friends and family you will have to admit this to, that’s coming and you know that also so again I ask what’s the point of pretending just as you pretend to see different numbers when you truly know better.

      //////////

      • DWM

        You can much better save face and maintain some self dignity by showing friends and loved ones that you figured out the farce on your own rather than having it forced upon you when this thing finally collapses, which it thankfully is at last doing as evidenced by the TV reports and even some lawmakers starting to get involved in exposing it. Look around you and ignore the stupid gurus for a change, visit that link suggested above by Mark and look over the entire site, it’s an eyeopener to sat the least! Join the discussion there and talk with some real experts in the field, act civil there as you have done here and you will be treated with respect there and not heckled as is the case on some sites, Sam will NOT allow name calling and disrespectful behavior so come on over and join in, it will help you immensely with dealing in what we both know is surely coming!

    • DWM

      Truthshall, [QUOTE], “DVM…Well, it was good for a laugh wasn’t it? ;-) The jokes on you! ;-) I like to play. ;-) IMO whether next year, 10 years, 20 years from now, and nobody knows except the CBI, I truly believe Iraq will raise the rate of the Iraqi dinar” [UNQUOTE]

      You make yourself look like a total Moron and you think the joke’s on me? Of course you do, obviously it’s totally in line with your way of thinking but it’s YOU people are laughing at!

      You can pretend you were just playing games if you like but no one is going to fall for that, obviously you are starting to see the absurdity of your “argument” and that last post was just a lame attempt at saving face by claiming you were “just playing us”. It’s time to wake up and if you truly are concerned about saving your dignity, as that lame attempt to shift the ridicule clearly shows, then you need to come to grips with this thing and admit it! Not necessarily to us, that doesn’t matter, but rather to yourself. Once you get past that first hurdle you will be able to see very clearly what you already full well know then you truly can “save face” and just maybe recover some of your money. By now you must know this is nothing but a scam, nobody can be that dumb to continue to believe in the face of obvious proof to the contrary! The really telling thing is that you must be fully aware that WE know that YOU know so what’s your point? These little “drive by” posts with you childishly quipping “I believe it’s still going to happen” only makes you look hopelessly dumb, is that REALLY what you want people to think of you?

    • DWM

      Truthshall, [QUOTE], “DVM…Well, it was good for a laugh wasn’t it? ;-) The jokes on you! ;-) I like to play. ;-) IMO whether next year, 10 years, 20 years from now, and nobody knows except the CBI, I truly believe Iraq will raise the rate of the Iraqi dinar” [UNQUOTE]

      You make yourself look like a total Moron and you think the joke’s on me? Of course you do, obviously it’s totally in line with your way of thinking but it’s YOU people are laughing at!

      //////////

      Happening AGAIN!!!!

      Let’s try this piecemeal!

      • DWM

        You can pretend you were just playing games if you like but no one is going to fall for that, obviously you are starting to see the absurdity of your “argument” and that last post was just a lame attempt at saving face by claiming you were “just playing us”. It’s time to wake up and if you truly are concerned about saving your dignity, as that lame attempt to shift the ridicule clearly shows, then you need to come to grips with this thing and admit it! Not necessarily to us, that doesn’t matter, but rather to yourself. Once you get past that first hurdle you will be able to see very clearly what you already full well know then you truly can “save face” and just maybe recover some of your money. By now you must know this is nothing but a scam, nobody can be that dumb to continue to believe in the face of obvious proof to the contrary! The really telling thing is that you must be fully aware that WE know that YOU know so what’s your point? These little “drive by” posts with you childishly quipping “I believe it’s still going to happen” only makes you look hopelessly dumb, is that REALLY what you want people to think of you?

    • DWM

      THE FILTER HERE STINKS!!!!!! WHATS WRONG WITH THIS STINKIN SITE!!!!!!!!!

      Maybe part of my reply can get through!!!!

      TruthShall, [QUOTE], DVM…Well, it was good for a laugh wasn’t it? ;-) The jokes on you! ;-) I like to play. ;-) IMO whether next year, 10 years, 20 years from now, and nobody knows except the CBI, I truly believe Iraq will raise the rate of the Iraqi dinar”[UNQUOTE]

      You have caused hundreds of people to laugh at YOU and you thin k the joke’s on ME??????? Lol!

      Trying to shift the ridicule will not work and it clearly shows that you have come to see the absurdity of your arguments so what’s your point?

  • DWM

    MAYBE THIS WILL POST, I give up this site is ridiculously hard to post to, I am finished here!!

    MAYBE a part of the post will get through?????

    You are not taking a chance since this is not a lottery or an investment of any kind, it’s a scam and nothing more. It’s not a gamble, a long shot of a million to one, a billion to one or even a trillion to one, it is in FACT no shot at all! That’s because this “RV” is not real, it’s nothing but an imaginary event dreamed up to scam people out of their money! No matter how much you want to believe it you actually know better but refuse to admit it to yourself. Open your eyes and look at the things you yourself have posted here and ask yourself why you could so easily have been shown to be wrong on every point and why do you have to pretend to see Billions when when you know full well it’s Trillions? Of course it’s to keep the dream alive but you WILL have to wake up sooner or later and know that so why keep the farce going? The longer you pretend the harder it’s going to be to face the friends and family you will have to admit this to, that’s coming and you know that also so again I ask what’s the point of pretending just as you pretend to see different numbers when you truly know better.

    You can much better save face and maintain some self dignity by showing friends and loved ones that you figured out the farce on your own rather than having it forced upon you when this thing finally collapses, which it thankfully is at last doing as evidenced by the TV reports and even some lawmakers starting to get involved in exposing it. Look around you and ignore the stupid gurus for a change, visit that link suggested above by Mark and look over the entire site, it’s an eyeopener to sat the least! Join the discussion there and talk with some real experts in the field, act civil there as you have done here and you will be treated with respect there and not heckled as is the case on some sites, Sam will NOT allow name calling and disrespectful behavior so come on over and join in, it will help you immensely with dealing in what we both know is surely coming!

    Come on by now you have got to know this is a scam, no one who is capable of carrying on a conversation such as you have is t going to be that dumb and I am sure you are not dumb, just misguided by the gurus! Don’t wait until the lid blows off this thing to admit to friends and relatives what has happened, you can still save face and maintain some dignity by admitting this scam to yourself and those around you before you are forced to and we both know that time is approaching! Some people will become the object of jokes and ridicule by those who tried to warn them and they maybe even will lose friends that the lured into this scam, don’t let that happen to you!

  • Cali

    I see that the “Guru’s” are already getting the “Believers” up in arms about President Obama and Jack Lew holding a press conference today. Of course, they are eluding to some kind of “announcement” and even though they are saying they don’t know what the meeting is about, we all know that because this information is coming from the “Guru’s”, there will be those who are waitng with baited breath, thinking this meeting has something to do with an RV… I can assure you, it doesn’t!

    May 16, 2014

    – President Obama has only one meeting, a sit-down with Treasury Secretary Jack Lew, on his public schedule today. Vice President Biden addresses the National STEM Summit of Change the Equation, a non-profit education group, in Crystal City. He’ll sit in on the meeting with Lew, then Biden attends the ceremonial swearing in of newly confirmed Federal Trade Commissioner Terrell McSweeny.

    White House Schedule – May 16, 2014

    http://www.whitehouse.gov/schedule/complete

  • Peter345 (@spacetime345)

    The RV has nothing to do with the Iraq gov, The reset will come about as a result of the collapse of the US petro dollar. Of course the current Global fiat system is the biggest Scam in all of history. This cannot be fixed by current governments or centralized banks, because it has been created by them in the first place -Infinite economic growth in a finite system only leads to one mathematical outcome.

    People create value through there very existence, not gov’s or Banks. Decentralized cryptocurrencies and p2p governance will rid us of the failed centralized fiat ponzi politics of human value exchange.

    A digital reset has already begun, It appears many are still not aware of this.

    • DWM

      Your name says it all since you obviously are a Space Cadet!

      Posts like this are so absurd they truly don’t even rate a response but suffice it to say that it would be impossible to get any three countries on this planet even to agree that the Pope is Catholic, never mind being able to co-ordinate something of this magnitude, Lol!!! Then there would be the totally impossible verification that everyone would be adhering to the agreements along with the equally absurd idea that all this could be accomplished in secret, except of course for the internet “Gurus” who are the ONLY people who seem to know about it!!!!

    • Mark

      Peter345 – “Decentralized cryptocurrencies and p2p governance will rid us of the failed centralized fiat ponzi politics of human value exchange.”

      ROFL. Decentralized crypto-currencies have an even shorter lifespan than fiat. They also only work on a small scale, ie Bitcoin’s 21m maximum possible units spread over 7bn people = 0.003 bitcoins ($1.30 maximum wealth) per person. How are you going to do your weekly shopping with that, let alone buy a car house, etc.

      The rest is just the usual cut & paste gibberish from NESARA / GCR conspiracy sites along the lines of “US fiat currency is worthless but Iraqi paper fiat is priceless” by clueless “RV investors” trying to find another “explanation” to “convince” themselves they haven’t been scammed…

      And “P2P governance” is just an expty slogan for “pseudo-anarchist focus groups that get nothing done and still suffer form the same petty ego’s & in-fighting”. “Peer to peer” is an Internet technology, not a form of governance…

      • DWM

        Excellent reply Mark!

        Normally these types of posts aren’t worth the effort it takes to debunk them since they are so absurd they are comical but after following folks like TruthShall I can see where some might actually be gullible enough to believe this nonsense, I truly fear for our future because these people not only vote they also breed!

  • Mark Jones

    Thanks for to share your services .in most other major economies around the world, it is illegal to market an investment without appropriate securities registration, but scammers get by this, claiming they are selling the Dinars for numismatic value, as collectors’ items. See more at: http://www.dinarcurrency.com/

  • Valoriza

    The Iraqi dinar fraud scheme consists on the following:
    You purchase the dinars and the seller charges you a commission or service charge. Despite the small commission amount when the dinars seller sells big volumes of transactions they make lots of money and at the same time captures or sequesters the customers. What do I mean by a sequestered customer? When reality hits the customers and loose hope of making any profit, they also realize the only way out is to sell back their dinars to the same SOB they purchased the dinars from or other agent in the same business. The catch is the customer will have to pay commissions or service charges again, and will never recoup the money they thought were investing. Put in simplest words possible “For every dollar you buy in dinars you may recoup fifty cents if lucky, and the longer you wait for a miracle to happen, the less you may recoup”.

Comments are closed.

Follow

Get every new post delivered to your Inbox.

Join 732 other followers