Any Day Now, the Dinar RV Story

[LaVidaRoja]

I thought that their work and contributions were SO top-secret that they could/can never be revealed -- to ANYONE!!

[Burnaby49]

I thought that their work and contributions were SO top-secret that they could/can never be revealed -- to ANYONE!!

I was once involved in a Tax Court case where a Canadian, who lived and worked in Canada, tried to convince the judge he was a non-resident so he wouldn't have to pay income taxes. Unlike you Americans, we Canadians are not taxed on our world-wide income wherever we reside a Canadian living, say, in Florida is not taxable in Canada.

We had the usual proof of residence, credit card bills, a home in Vancouver with a wife living there. He also held a regular job in Vancouver. He claimed his wife used his card and he went straight from work to Washington state every day and slept under bridges in Blaine.

There was one period of about a year wher he seemed to be unemployed so he was asked where he lived then. He said that at that time he worked in a top-secret American military research base in Alaska but he couldn't give the court details because, if he did, the American government would have had him assasinated.

I was one of the Crown's witnesses against him (on a different issue than his residency) and during a break he and I were in the washroom together. He said that he was really, really nervous (if I was telling those whoppers to a judge I'd have been nervous too) and he had a bad heart. He asked me if I knew what to do if he suddenly collapsed in court. I said of course I knew. I'd pack up my briefcase and go back to the office.

[LightinDarkness]

One of TNT Tony's followers has declared that she will name her baby in after him. Can you imagine the world you have to live in to name your new born child after this guy? And now for the rest of his life he will be named after a scammer...5, 10, 20, 30 years from now will the mom still be waiting on the RV?

[LightinDarkness]

I was one of the Crown's witnesses against him (on a different issue than his residency) and during a break he and I were in the washroom together. He said that he was really, really nervous (if I was telling those whoppers to a judge I'd have been nervous too) and he had a bad heart. He asked me if I knew what to do if he suddenly collapsed in court. I said of course I knew. I'd pack up my briefcase and go back to the office.

Did he act shocked when he lost? I mean did he seriously think that kind of defense was going to work?

[Burnaby49]

I was one of the Crown's witnesses against him (on a different issue than his residency) and during a break he and I were in the washroom together. He said that he was really, really nervous (if I was telling those whoppers to a judge I'd have been nervous too) and he had a bad heart. He asked me if I knew what to do if he suddenly collapsed in court. I said of course I knew. I'd pack up my briefcase and go back to the office.

Did he act shocked when he lost? I mean did he seriously think that kind of defense was going to work?

Hard to say. On a rationale basis there was no chance whatever that his testimony would be viewed by the court as anything but straight bullshit. So if he was acting rationally why bother? But he went up and said it so I have to think that to some extent he must have thought he had a chance. It has been my experience that a lot of litigants, particularly Freemen like Norman Holmes, seem to believe that if they say something in court the court has to accept it and that the judge has to take their beliefs and opinions into consideration in arriving at a decision. Why else would Freemen like Rory Hawes be going back to court over and over on exactly the same losing issues? Why do they keep being picked up for driving without licenses and then go to court arguing that the state doesn't have the jurisdiction to try them? Master Gee seemed to totally believe that he could win his case on the argument that the city of Burnaby had its name in the proceedings in capital letters. When the judge told him that was irrelevant he told the judge that because of this he (Master Gee) would have to dismiss the case. He was distressed to be told that it was proceeding with or without him.

There was a similar comment made by Ian Brown who I discussed here;

viewtopic.php?f=50&t=9949

At his Tax Court hearing he was arguing total Freeman gibberish but instructed the judge that the court had to accept it because;

Mr. Brown’s only comment concerning the transcript contents was that he, and I quote, “misspoke” when he responded to Justice Boyle’s questions concerning a business. He advised me that it was simply Justice Boyle’s opinion, that Mr. Brown had his own opinion and that opinions were equal before the law.

http://www.canlii.org/en/ca/tcc/doc/201 ... tcc91.html

A judge's decision is opinion? They actually believe this stuff but I have no idea why. My concept of reality isn't flexible enough to understand it.

[thunter]

There is some justice in the world!

http://video.cnbc.com/gallery/?video=3000346909

[Deep Knight]

There is some justice in the world!

http://video.cnbc.com/gallery/?video=3000346909

Crime and Punishment
Inside a $24 million investment scam: Buy the Iraqi dinar

According to prosecutors, a group of men behind an Iraqi currency scheme created a pitch that included war hero tales to lure potential investors.

"You have someone who is out there ... who is soliciting millions and millions of dollars from people just making stuff up," said Steven Dettelbach, U.S. attorney for the Northern District of Ohio.

The opportunity was pitched as a way to profit from a nearly worthless Iraqi dinar. Scammers promised profits were nearly guaranteed if investors bought dinars at today's values, and then exchanged the dinars back for dollars at a later date once the dinar exchange rate presumably improved.

Investors bought the currency through the firm BH Group, which charged a 20 percent markup on average, according to prosecutors. Some of the scammers also touted false military achievements, prosecutors say.

By the time the scheme unraveled, federal officials say victims handed over nearly $24 million to the con men for the Iraqi currency they thought would make them rich.

Brad Huebner, the founder of BH Group, has been covered here before (thanks Gregg). viewtopic.php?f=6&t=7455&start=40 He was convicted on 30 counts of structuring, nine counts of money laundering, and one count of mail fraud and was given 87 months in Jail last November. Not only did he lie about his military service, he also lied about his playing football under Bo Schembechler - lucky for him he was tried in Ohio and not Michigan.

Structuring, also known as smurfing in banking industry jargon, is the practice of executing financial transactions (such as the making of bank deposits) in a specific pattern calculated to avoid the creation of certain records and reports required by law, such as the United States's Bank Secrecy Act (BSA) and Internal Revenue Code section 6050I (relating to the requirement to file Form 8300).

Structuring includes the act of parceling what would otherwise be a large financial transaction into a series of smaller transactions to avoid scrutiny by regulators or law enforcement. Structuring often appears in federal indictments related to money laundering, fraud, and other financial crimes.

The term "smurfing" is derived from the image of the comic book characters, the Smurfs, having a large group of many small entities. Miami-based lawyer Gregory Baldwin is said to have coined the term in the 1980s.

Typically each of the smaller transactions is executed in an amount below some statutory limit that normally does not require a financial institution to file a report with a government agency. Criminal enterprises often employ several agents (smurfs) to make the transaction.

[Pottapaug1938]

From www.bloomberg.com, a minute ago:

1 United States Dollar (USD) is equal to 1,203.5327 Iraqi Dinar (IQD)

How many years has it been, I wonder, since we first started hearing rumors that the dinar will revalue "any day now"?

[ArthurWankspittle]

How many years has it been, I wonder, since we first started hearing rumors that the dinar will revalue "any day now"?

IIRC I found a shotgunsusie(?) post from mid 2006 saying something like by the end of the month at the latest. Greg recalls a now defunct board where the RV was "any day now" back in 2004.

[wserra]

Hey, if it could happen to the Swiss franc, why not the dinar?

Other than the million or so obvious reasons, of course.

[notorial dissent]

I'd hardly call removing an artificial cap keeping a currency down a reval. The cap was costing Switzerland money, although having their currency at a higher value than it was may also have a similar effect as it will raise the price of Swiss goods, like chocolate. The Swiss Franc is still, and generally always has been, worth more than most European currencies, and is coming out higher than the Euro, which is dropping slightly from where it has been. Reminds me of the heady days of free floating currencies.

[Gregg]

Currently, the M2 of Iraq is about 85 trillion

US M2 is about $11 trillion

So for Iraq RV the dinar at par with the dollar, you would have to suppose on some level that the economy of Iraq is about 8 times the US.

In fact, by activity, the economy of Iraq is about the same as the economy of Oregon.

Just sayin'

[LightinDarkness]

It really is just so predictable - Winston spent time on TNT Tony's call trying to act like the Swiss central bank actions were somehow proof that the dinar could RV. You can hear his BS explanation here at ~13:30: http://ds1.downloadtech.net/cn1086/audi ... 84-001.mp3

I mean obviously anyone with even a basic knowledge of economics knows there is a world of difference between the Swiss monetary policy change and a dinar RV. But we are dealing with idiots on these calls, so I am sure this will be used as the new example of how RVs happen all the time (just like they used Kuwait before this).

Of course, lets just drop all reason for a moment and say that there is some similarity. The Swiss currency "RVed" by going up ~30%. At the very least, dinar true believers and pumpers promote that the dinar will go from 1100/dollar to 3/dollar - a RV that is quite a bit more than 30%.

[LightinDarkness]

There is some justice in the world!

http://video.cnbc.com/gallery/?video=3000346909

And the gurus have already explained that away. Here is the TNT Tony BS explanation: You see, it isn't that the dinar is a scam...no. Those guys went to jail because they didn't have Treasury approval to sell dinar via that magical currency dealer license (which is so easy to obtain anyone can get one - and they of course have nothing to do with selling dinar specifically). In fact, lots of the reporters reporting on this story actually secretly have dinar and are just waiting on the RV like the rest of us!

Yep, really, that was the explanation from Winston. And I'm sure all the true believers have been pacified. Per usual the stupidity amazes me.

[Gregg]

In all fairness, the BH Group scam was MORE about the fake hedge funds they were taking deposits for than the viability of the RV, although the indictment did spend several pages about the absurdity of the whole RV and specifically stated the falseness of several of the RV "Internet known facts" that are false, the big one being that the US Treasury (and/or The Federal Reserve) holds trillions of dinars and such will be used to some combination of pay off the national debt or finance future oil purchases by the US from Iraq.

Let me take advantage of the moment to point out some things about that particular chain of logic.

First, the Treasury does not hold any foreign currency for investment purposes, what they have on had disclosed in the quarterly report of foreign reserves and is held as a manner of monetary policy. The Federal Reserve, or any of the 12 Federal Reserve Banks are not legally permitted to hold foreign currency for investment purposes and what the NY Fed holds is used for transaction support, which means when a bank somewhere asks for some Dinar for whatever reason, it ultimately comes from the Federal Reserve Bank of New York, I would guess this is a piddling amount.

As to some government or banking entity redeeming Dinar and using same as credits for future oil purchase at a discount, well, the government doesn't buy oil for the US market, oil companies do that and the fact of the matter is a goodly bunch of the major energy companies are not even US based. Secondly, oil is not a fungible commodity, there is enough difference between oil from Canada, Iraq, Mexico, Saudi Arabia and Venezuela and Texas etc... that makes the refining of them very different. So different that in fact, a refinery set up to make mexican crude into gasoline cannot easily start refining Iraqi crude. In some parts of the country in fact, the change of EPA mandated characteristics of petroleum distillates means that refineries have to shut down to change process for days or weeks and the disruption is often blamed for changes in price/supply of gasoline and diesel fuel twice annually. The US does not get a lot of crude from the middle east, our supply comes mostly from domestic production, Canada, Mexico and Venezuela. Middle East oil in general ends up in Europe and Asia.

Of course, none of this fits in with the constantly evolving RV mythology and facts often don't do a lot to dispel a good fantasy, especially when some dishonest myth makers are making a buck telling lies.

[Gregg]

OH OH OH, I forgot to mention something else.

The thing that makes the whole RV almost plausible to people who don't think it through is the supposed wealth of Iraq and the ability of their oil sales to finance the RV.

With the Iraq M2 at about 85 trillion, iraq annual oil exports were $78 billion (2012) it would take upwards of 1,000 years for the oil to finance a 1-1 exchange rate. The guru range of RV estimates range from 10 cents to $35 with the consensus seeming to be between 1-1 to $3.60. So even the minimalist fantasy would take 100 years of EVERY PENNY of oil revenue and the higher estimates would take geological timescales to realize. The oil obviously won't hold out long enough even for the lower numbers and that 2012 oil revenue number figures $80/bbl prices.
Often when you read the guru analysis they also factor in major increases in Iraqi production which if actually happened would further erode the price per barrel and somewhere in there you have to find a break even point. Currently ANY increase in production is likely to have substantial impact on the price it brings as some OPEC countries are almost frantically calling for production cuts to stabilize falling prices. My tip of the tongue guess at current Iraqi oil revenue is about $40 billion annual rate, and their budget is $75 billion which is could start depleting their foreign reserves that support the current 1166:1 exchange rate. What this means is that Iraq is going to have to stop growing their money supply MB, M1 and M2 could start to contract OR the rate which has held steady for 5 years could start dropping (growing, its a backwards number) soon which just might set off a panic in guruland.

Finally, at any time Iraq could follow through on their stated intention to replace their currency with new notes sans 3 zeros, making all those notes stashed in trailer parks nationwide worthless if not traded for the new ones, and doing that could be very hard and involve actually going to Iraq to do so.

I'll shut up now for a bit.

[LightinDarkness]

Good info Gregg, you may be preaching to the choir here (as you know) but I appreciate it. What I find interesting is that the gurus like Tony, Winston, etc. can't seem to be bothered to even come up with a real explanation - they just make one up about how they were jailed for not being "authorized by the Treasury." They know their followers are so dumb they can say anything - as long as the implication is that the RV is real and coming soon.

[Gregg]

I just found out today that Rodney Blackburn, one of the more infamous gurus lives within a few miles of the Well Armed Bunker Complex and when he's not in high high level talks with the big shots in charge of the RV from the World Bank, IMF, US Treasury and other sources, he works a day job as the Assistant Manager of the local Bob Evans Restaurant, a fine place for breakfast, by the way, but hardly where one would expect to find such a high placed RV insider.
Rodney is one of the GET Team members, he was the "G" for his guru moniker GanKan....

Imagine this, from the cashier...

Rodney, Michelle is on line 1, she wants to know if she can have tonight off, Line 2 is a carryout order and Line 3 is some guy from the Central Bank of Iraq who says its urgent

I'm going to try to get some undercover video the next time I get a craving for biscuits and gravy. Stay tuned!

[LightinDarkness]

I'm sure that Rodney is just doing that as a cover job. It is the only way he can keep The Dark Cabal from finding out about his real job as a top intel agent, you see.

[Deep Knight]

The cap was costing Switzerland money, although having their currency at a higher value than it was may also have a similar effect as it will raise the price of Swiss goods, like chocolate.

All part of our illuminati plot to make Swiss chocolate as overpriced as their watches. Mums the word - first we have to make sure Erasmus of America isn't the heir to the Swiss Throne (we believed we had "taken care" of all legitimate descendants of their last queen, Heidi the Terrible) and then the elite Swiss Guard will abandon the Pope and do the same thing to our enemies as they do to their cheese - fill it full of holes.