IRAQI DINAR REVALUATION: Every Lie Exposed (JPMorgan, Kuwaiti Dinar, Budget, Etc.)

by **RamblerNash** Wed Oct 04, 2023 11:10 pm

Fundamentals of Finance

Jul 4, 2023 #iraqidinar #fundamentalsoffinance

IRAQI DINAR REVALUATION: Every Lie Exposed (JPMorgan, Kuwaiti Dinar, Budget, Etc.)

• My first 2 Iraqi Dinar videos had over 400 comments, so I’ve heard just about EVERY lie people have been told to make them believe it’s a good investment. Now it’s time for me to debunk every single one of them. Today we’ll be covering everything from lies about the historical valuation, to lies about the Kuwaiti dinar, to how they make it look like it’s NOT a scam, and ALL the lies they tell you about why it’s going to go up. And unlike those other channels that promote the dinar, I used to advise investment professionals at Merrill Lynch, Morgan Stanley, and UBS. Let’s get into it.

• The most common question I get, and this is actually a good one, is how can a currency be a scam?

o It’s a scam because it’s sold with huge fees on the false hope that it’s going to magically revalue up 1000x overnight, which is impossible.

o And how can these companies be scammers if they’re registered with the U.S. treasury? Because they register as “money services businesses” to get around the regulations that make it illegal to sell an investment without being properly registered, which they’re not.

o They put out fake articles with tons of false information that tout the potential of the currency and downplay the risks. All they care about is collecting their 20ish percent fees. It’s a scam.

• They reel you in by convincing you that huge returns are right around the corner. On June 9th, someone told me it would happen on June 18. It didn’t. Then there was a big meeting coming on June 25. Then they said July 2. IT’S BEEN GOING ON LIKE THIS FOR 20 YEARS!

o There’s always a next event that’s going to be the trigger.

o “The budget will be passed on a much higher valuation, you just wait.” “Ok the budget was passed based on the same valuation … but it hasn’t been signed yet, it’s going to be amended.” Of course, the deadline came and went, it wasn’t amended, and nothing happened.

o What people need to understand is that it is IMPOSSIBLE for a currency to revalue up 1000x over night like they’re hoping. A country cannot just CHOOSE to change the exchange rate. It doesn’t work that way. Currencies move based on supply and demand, so in order to move the currency, they’d have to dip into their reserves to buy a significant amount of dinar overnight.

o They definitely DON’T have enough reserves to push their currency up to $3, and it’s VERY unlikely they’d ever even TRY to use them that way. They need their reserves to maintain their peg to the dollar, and over the next few years they’re going to need even MORE of them to make up for their massive budget shortfall. At the current oil price, their reserves will be gone in a few years, so I doubt Iraq would want to burn through them any faster than they have to.

• That $3 dollar figure comes from the BIGGEST lie they tell, that prior to the war, the Iraqi dinar was worth more than $3 USD.

o That is false. The dinar was demonetized, aka made worthless, and the CURRENT version was CREATED in 2004. It did not exist before that. Here’s what happened. Before the Gulf War in 1990, the Iraqi dinar was worth over $3 because it was pegged there by Saddam Hussein’s autocratic regime. But after Iraq invaded Kuwait, UN sanctions stopped them from being able to physically get the paper they needed to print more of the same money. But they had to fund a war, so they NEEDED to print money. After that, they had 2 currencies. They created a NEW currency called the Saddam dinar, which was WAY over-printed and went from a value of $3 to 0.03 cents. The old bills became known as Swiss Dinars and only circulated in the Kurdish regions, which were not really controlled by Saddam Hussein and refused to accept the new currency. The Swiss dinars mostly held their value, for a while.

o Once Saddam was gone in 2003, they created the NEW currency that they use today.

o What happened to holders of the old ones? Listen closely because this

https://www.youtube.com/watch?v=DlYQ-vW2RBA&t=0s