Addressing the hype surrounding the Iraqi dinar to prevent more people from being misled about this investment. We will be updating this blog periodically so please join to be notified about the updates.
That's right, folks! Just when the scammers thought it was safe to go back in the water, Sammy returns. Only I'm not really reactivating my blog. I'm merging my posts with Marcus Curtis' "Iraq Currency Watch" blog. I'll be posting there from time to time and participating in his podcasts, so make your way over to Marcus' site and drop me a line. I'd love to hear from some of the old gang. Happy New Year!
Happy New Year! Yes, another year has come and gone and still no RV. Another 365 days of conference calls, RV predictions, GCR intel, and wealth management/tax avoidance advice from your favourite dinar douchebags. All for nada. The IQD is still at 1166:1, the VND keeps declining in value, and the Zimbabwe dollar is still worthless. We're still waiting for the mythical TRN (Treasury Reserve Notes) to appear. We're still waiting for any announcement about a return to asset backed currencies. We're still waiting for Maliki's replacement Al-Abadi (who took over in August) to tell the CBI to pull the trigger on the millionaire-creating revaluation of the dinar. What's taking them so long, anyway? I need the money for my new Lamborghini to start that new orphanage.
Last January 1 I made three predictions. I predicted that neither the dinar nor the Vietnamese dong would increase by more than 20% for the year. The year ended with the same exchange rate of 1166:1 for the dinar and the dong was at $.00004745 on January 1, 2014 and $.00004682 on January 1, 2015. That's a decrease of 1.3%. I also predicted that Iraq's M2 would increase in 2014. The M2 finished at 88 trillion which is more than the 84 trillion it was at a year ago, albeit not as much as I had anticipated. So I was 3 for 3. And while I didn't predict that Maliki would win the election, I stated my belief that he would probably win and he did. He was removed shortly thereafter however, due to the sectarian division he fostered which led to the current ISIS crisis.
The dinar community was all abuzz around Christmas with talk of Shabibi returning as governor of the CBI. The hopeful were doing a collective high-5 in the mistaken belief that Shabibi's plan was to revalue the dinar by 100,000%, and that his return means that day will be here soon. Unfortunately for them Dr. Shabibi's plan was always and most likely still is a redenomination, which means that the IQD that speculators hold will become worthless rather than 1,000 times more valuable. See my post Shabibi Videos.
Also in December we had more douchebaggery from Adam "Wolfyman" Montana in this little slice of stupidity in his December 17 weekly Q & A:
"I expect it to come out as a managed float at about .10 and then the market will drive it up." First of all, a revaluation to a dime would be a 10,000% increase, which is only about 9,965% higher than the largest revaluation in history. And on a managed float like Iraq is on they back their currency 100% with their foreign currency reserves, which last I saw was about $80 billion. So an RV to a dime means that they would only be backing the dinar to the tune of about 1% of their monetary base ... in a country on the brink of failing, mind you.
And second, if it's a managed float how is the market going to drive it up? By definition a managed float is not market driven! It's managed!!!
And people pay this guy for his expertise ... why?
And then there was the return of tlar. A few months ago he said that he would stop posting if his RV prediction didn't work out, but of course he's back with more Tom Foolery. This time it's something about the budget and the ISX will bring the RV in January. Here's a post I did about tlar last year, for anybody who is tempted to believe that this guy has good information.
Marcus Curtis just published a book on the global currency reset that you might want to check out. I'm putting a link to it on the top right. It's a bit long and more than a little technical, but it's worth the effort if you want to understand what's going on with the GCR. Also, check out Nick Giammarino's site Global Currency Reset
And now ................ (drumroll) ...........................
The 2014 Douchebag of the Year Award
TNT Tony Renfrow
Back in February Tony "TNT" Renfrow launched his infamous "We Are The People" Twitter campaign that claimed the elites were cashing in their dinars at the revalued rate while us peons are left holding onto dinars that are worth less than a tenth of a penny to anybody who is interested in buying them. Unexpectedly the BBC got wind of the campaign and did a story on it, exposing the use of bogus followers on Twitter. Tony continued shoveling similar BS throughout the year .... contract rates, NDA's (Non-Discolure Agreements), and 1-800 numbers to inform people when and where they could cash in. For this douchebaggery Tony wins his second consecutive Douchebag of the Year award. Congrats!
Equally doucheworthy was Dave Schmidt, the former Washington state senator turned dinar guru who went from predicting the RV to talking to "The Ambassador" about the vast storehouse of gold entrusted to the Asian Dragon family that was about to be dispensed to worthy souls all around the globe. Seems Davy had an epiphany that there wasn't enough money to pay everybody with a big RV, so he latched on to the GCR (Global Currency Reset) and Prosperity Package nonsense and started touting it, instead.
So 2014's Douchie goes to both Tony and Davy for their shameless (albeit creative) purveying of douchedoody to naive and inexperienced currency speculators all across dinarland.