7-17-2012

B says that people who say "delete the zeros" means "lop" don't know what the hell they're talking about.  So I guess Ali Agha from Dinar Trade doesn't know what the hell he's talking about, because he says it means lop.  I guess every other country that has lopped after saying they were going to cut the zeros, lop off some zeros, remove the zeros .... etc. didn't know what the hell they were talking about either.


B says that the US Treasury and Federal Reserve both have dinar. He's seen the articles that state that but unfortunately doesn't have them handy. I've been observing B for over nine months now and the only thing I recall seeing him provide a link for (other than crap he was pumping) was the SIGIR Report which didn't even say what he claimed it said. I certainly wouldn't hold my breath waiting to see any links to documentation of these claims.  However, I decided to look through the threads at IIF to see if I could find what he was referring to and I found this thread.  It's addressing this article from the NY Times in 2008.


On page 2 it says "Because the new Iraqi dinar was so popular, the central bank bought billions of U.S. dollars to keep it from appreciating too much. As a result, billions in cash accumulated in the vaults of the central bank." 


The overnight millionaire crowd of course interprets this to mean that Iraq bought billions of USD with the new Iraqi dinar, which means we must have trillions of IQD in our treasury.  However, if you read the whole story you'll see that on page 1 it says "In the first stage, the United States would pay Iraqi government employees and pensioners in U.S. dollars. These were obtained from Saddam's accounts in American banks, which were frozen after he attacked Kuwait in 1990 and amounted to about $1.7 billion. The second stage was to print a new Iraqi currency for which Iraqis could exchange their old dinars." 


So it looks like what happened is the US poured $1.7 billion USD into the Iraqi economy and later bought them back from the Iraqi people with the newly issued IQD.  Nowhere does it say that Iraq bought those USD from the US.  


B says he keeps getting email from people saying they don't know how much longer they can hold on.  He says they should have never counted on the RV by any certain date.  He says that this is a shoebox investment, as in "put your dinars in a shoebox and forget about them".  "It's fun to watch, but you need to be focusing on other stuff or you'll get hurt", he says.  That's quite different from what he was saying a year or two ago ... things like "it's on the table to RV by the end of this year (2010)" and "99% sure of an RV by the end of June (2011)".  Maybe those people wouldn't have bought dinar in the first place if B hadn't said it's a sure thing and led them to think it would happen by now.  I documented this in The Breitling Catalog. 


B says that everything on the ISX is undervalued because those stocks are priced in IQD and the currency is undervalued.  Well if the stocks are undervalued then everything in Iraq with a dinar price tag on it is undervalued.  Might as well buy up everything on every shelf because it's sure to go up in value after the RV.  After awhile this starts to sound a bit silly, doesn't it?


http://www.youtube.com/watch?v=Hp4lbWEa8Xo&feature=plcp


http://dinardouchebags.blogspot.com/2012/02/breitling-catalog.html

http://dinardouchebags.blogspot.com/2011/10/breitling-busted.html