RANT! Southern Shaker “shakes” his finger at Mr. IQD!

Happy Wednesday Dinarians,

Sorry to have not been posting as much lately, but between the holidays, new year and the flu, I’ve been a bit “out of it”.  Besides, the IQD didn’t “RV” or significantly increase in value, and you can bet I keep my eyes on the CBI.iq website for that event.  

Rant!

So, there was not much to talk about, but then not long ago I made a post in response to a Mail Bag question I had received.

In that post I was trying to illustrate a point to the person whom I was responding to.  I was trying to make a point about not spending your hard earned money on IQD if you have other responsibilities which are more pressing, such as food, rent/mortgage, car payment, savings, etc.  I was trying to get across that you should NEVER spend money you cannot afford.  Here is the direct quote from that Post which got Southern Shaker all riled up:

I only own as much as I can afford to lose.

Perhaps I’m gambling? But in essence I see the IQD as “throw-a-way” money! This is the same money I would blow spending a few careless weekends in Las Vegas.

I used the flippant term “throw-a-way money” and my buddy Southern Shaker took issue with it, and wrote the following Rant! about yours truly “Mr. IQD” – geeze, I never thought I would publish a rant about myself…  Enjoy!

Name or Handle: SOUTHERN SHAKER
Comment (please see note above): Hey MRIQD, Southern Shaker here!!! How’s it been going Buddy!! I was reading the post SHOULD I SELL MY DINAR. I have a serious question (believe it or not). Would someone explain to me what “THROW AWAY CASH” is??? I’m what I consider very well off in today’s world but for the life of me I don’t know what “THROW AWAY CASH” is.

Then I think of someone saying “JUST IN CASE” there is a revaluation of the Iraqi Dinar to just 1 USD. Do people realize that 1 Dinar to 1 USD is an increase of 116,000% in the Dinar? An increase of 1 Dinar to $3.44 USD is an increase of 399,000% and an increase of 1 Dinar to $36.86 USD is 4,275,800% (these USD amounts are amounts that’s been given by “gurus”)!!!!!!!

Am I missing something here? Does anyone “REALLY” believe in an increase remotely even close to these percentages??

Now back to my original question, what is “THROW AWAY” MONEY?  If I was to take $300.00, $1,200.00 or even $5,000.00 and walk outside in a 25 mph wind and throw that money straight up toward the sky is that “THROW AWAY” money??

Maybe if I simply took that same money, walked over to the trash can and threw it in there is that “THROW AWAY” money?? Now I have been to Vegas, Reno and many various casinos aroud the USA and gambled money. Sometimes I won, sometimes I lost, but I had a good time/enjoyment/entertainment/fun doing this. Hell most or some of the time the casino gave me complementary drinks, meals and even a room sometimes!!

Now with the dinar thing I have noticed that most folks live in the build em up let em down world. That don’t sound like fun to me??

I got involved in the “take down” of the lying, scamming, scumbag, low life, lazy, good for nothing, cheating, con artist, deadbeat dinar gurus because several of my honest, hard working, good hearted, family people, loyal employees bought into this SCAM!!!!!!! 101% SCAM!!! NO more, NO less!!!

Now as you know I’ve been working with, as Tony calls them, the 3 letter agencies taking these scumbags down for over 5 months now. All I can elaborate on that matter is it is going “EXTREMLY” well!! I can tell ANYONE that wishes to know the truth that the Iraqi Dinar RV, RD is 101% PURE SCAM. Not 99.99, not 100% but 101% SCAM!!

It seems that checking the background of the so called “gurus” would answer most questions as to the fact was this a scam. Then you would think looking at the ridicious percentages the dinar would have to increase to become even equal to 1 USD would tell you something?

Then if you look at the so called self proclaimed “gurus” and their “past” life should tell you something. Number 1 is can “ANYBODY” tell me just 1% of the time “ANY” truth/fact in “ANY” of the so called “INTEL”??? Can “ANYBODY” tell me of “1” time the self proclaimed “guru” has provided “1” shred of evidence of fact for “ANY” 1 PETER PAN IN NEVER NEVER LAND shred of so call intel/excuse??

What I have noticed is that if you “DARE” question the lies that spew from their mouths your banned, marked a negativenellie, naysayer or person of no faith. Beware of false knowledge, it is more dangerous than ignorance!!

Now most of the time the so called guru is someone like Tony Renfrow, a “KNOWN” MLM scam man. Or maybe his brother Ray Renfrow a “CONVICTED” felon MLM scam man.

Of course then there’s the intel and excuses from these low life bums. Let’s look at a few:::::

People dancing in the streets, atm’s loaded, cards loaded, in country rv, contractors paid, whales paid, elite paid, banks on lockdown, employees returning to banks (at night on weekend), call centers manned, FBI, US Marshals, DHS and local law at banks now for rv, rv scrolling across bottom of tv screens in Iraq, Iraqis not reporting to work, people in tents in the parking lots of USA banks stopping rv, people on buses storming USA banks stopping rv, clawback clause, backwall time, done done done, all 100% completed, rv’ed but forgot 1 signature must redo, $3.44 rate, $24.00 rate, $36.86 rate, oil credits, USA contract rate, out of human hands turned over to randomizing computer, Iraqi holiday, 100% done, 1000% done, 1009% done, computer glitch, Maliki didn’t make right speech, Maliki had to make 2nd speech, CL returned to Iraq and told them to get it done NOW, Obama holding up rv, Obama not holding up rv, Obama told Maliki to get back and get it done now, UST in control of rv, UST not in control of rv, IMF in control of rv, IMF not in control of rv, Banks in control of rv, Banks not in control of rv, announced in mosques, banks on highest alert, intel so good you’ll poop your pants but been told not to tell you cause you can’t handle it, Mr DC (a voice on a phone only), Rats being arrested worldwide, politicians being arrested in Washington DC now, rv’ed in several countries but not in USA, rv’ed in Canada but only in certain places, 5,000 whales, 10,000 whales, 15,000 whales, 5,000 elite, 10,000 elite, 15,000 elite, 30,000 elite, 100,000 elite, Wells Fargo, BOA, Chase, Mom and Pop banks, pay it foward, don’t call the banks, open NIB account, don’t open NIB account, NDA, 19 page NDA, 23 page NDA, DHS over NDA, Tony has copy of NDA (never shown), Okie offering to donate his dinars if UST would release rv to poor sheeplin/peeps (if this rv was real you couldn’t pry dinars from Okie’s hands), Okie was offered 3 times last week to cash out but wouldn’t because of dedication to sheeplin/peeps, didn’t think I’d (Tony) be making this call (at least 100 times), given 2 times first one has passed, rv before Christmas, rv before Thanksgiving, Govt wants everybody to have great Christmas, Kuwait rv (never happened), by Jan 1, 2014, by Jan 31, 2014, be in banks on “Sunday”, CIA calling Tony, IMF calling Tony, UST calling Tony to issue 800#’s, IRS calling Tony, people on inside telling Tony conversation in Oval Office

(now can ANYBODY REALLY believe that ANY 3 letter agency such as FBI, IRS, NSA, UST, CIA, IMF, DOJ, DEA, SECRET SERVICE, US Marshals, DHS would dare tell ANY everyday, common Joe, plain Jane, blue collar, Joe citizen, known scam artist ANYTHING TOP SECRET, CLASSIFIED, Q-8, CONFIDENTIAL, NATIONAL SECURITY SENSITIVE, SPOKEN IN SECRET IN OVAL OFFICE???)

People cashing out now in Dubai, Maliki shooting fireworks in the streets himself, boots on the ground, any minute now, wear shades and ball cap to bank, don’t wear shades and ball cap to bank, total silence (really means guru has something to do the weekend), money in banks NOW for rv, people in Europe cashing now, people in Australia cashing out now, churches being offered deals now, elite and friends paid $38.00, guru Tony knows for a fact that over 100,000 elite cashed out over weekend, USA politicians resigning their post before they go to jail.

Now I know I missed some but go back and read each one of these slowly.

Keep in mind over a 10 year period most or a lot of these have been repeated time and time again!! But not ONE TIME has a so called “guru” been made “PROVE” one of these excuses/intel!!! NOT ONE TIME!!

The “ONLY” people making money on the Iraqi Dinar are dealers, pumpers, gurus, dinar chat sites and IRAQ themselves!!!! Keep in mind when this blows up these people will sell these sites to their old cronies in the MLM for the emails and names!! And they make “GREAT” money on CC’s now!! Heck people are selling Dinars on EBAY people!!

Go to http://www.ripoffreport.com type in Tony Renfrow and see one of the BIGGEST GURU’S past out there!! 14DAILYPLUS, RENT MY CREDIT, MIDAS TOUCH, 14DAILYRELOADED, HOME BASED BUSINESS SCHEME are just a few of Old Tony’s scams. Do you REALLY believe Tony would be involved in ANY true honest venture?? Go to GOOGLE EARTH MAPS and type in the address shown on ripoffreport shown for Tony that one of his victims confronted him at:

301 Cascade Falls Drive, Folsom, calif  [NOTE: Click the address and it opens directly in Google Maps.]

Is that his address, I can’t say 100% yes but why would a victim list a false address?? Look at the aerial view then the street view. If in fact that is Tony’s address he’s doing damned good for a guru that claims he makes NOTHING supplying the poor sheeplin/peeps intel day and night, 24/7/365!!

Now I pray you don’t take this wrong but I own a nice size trucking firm and transportation brokerage firm right here in the USA. Yes I have 8 figures in the bank and that home is nearly as large as mine which I built with money I worked for and not 1 copper penny that I beat 1 soul out of (I pray you don’t take this statement wrong).

The point I’m trying to make is Tony has built his home on scams of other people’s hard earned money. I have over 200 employees and I’d give them a dollar before I’d dare to beat them out of 1 copper penny!! I must be pretty honest because the less time an employee has been with me is 10 years and there’s only 2 that’s got that short of employment time.

Grant it some are getting ready to retire and that time will change but I have many 15, 20 and even 3 – 23 year employees. I have been blessed coming from a single truck owner independent trucker to a company with over 200 trucks. Several of my employees got sucked into this dinar scam. I genuinely care about each individual employee. I felt something wasn’t right so I started investigating it. It didn’t take long at all before I found the cold hard facts of what this Iraqi Dinar RV really was, a 101% SCAM.

Many articles have been written by different states, BBB, Congressmen, Senators, investment companies and so forth warning the people of this scam.

The people want/desire/crave this get rich quick scheme so they can help others and themselves and that’s an admirable thing and it’s a great feeling to help others. I sign 22 checks a month to donations I uphold, like Childern’s Hospital, Cancer research, Feed the Children, Wounded Warriors, different homless shelters and others. It’s a GREAT feeling that goes with the signing of these checks!!!

I bought every Dinar my employees had bought for the amount they paid and I / “WE” had a Dinar burning at my company about 3 or 4 Saturdays ago. We decided to keep 250,000 (ten 25,000 dinar) so I could go to Tony Renfrows Federal Trial in Kansas City, Ks when he goes to trail for the 14DAILYPLUS scam which he beat investors out of over $4,800,000.00 and hand him the dinars as he starts into the court room and tell him to see if the Judge would take these as payment???

Please go to this site, MRIQD.COM, BAGHDADINVEST.COM, DINARDOUCHEBAGS.COM, IRAQ CURRENCY WATCH.COM, RIPOFFREPORT.COM, RAGINGBULL.COM/FORUM/TOPIC/963955 and work thru the sites looking at the hard evidence.

Read and research where people like MRIQD, BI, MARCUS CURTIS, JACK, INES, KENNY and others have written. These are extremely smart, educated and LOGICAL people. [Awe Shucks Southern Shaker, you are making me blush and feel embarrassed by your kind comment.]

I do not claim to be a smart man myself, just a blessed man. I’m so sorry for rambling on and going in circles but if I can help just 1 person as the one speaking of “should I sell my dinars”, I want too!!!!! As I said, I’m not a smart man but my advice is, if you “CAN” find where to sell those useless dinar please do so and recoop some of your “REAL” money back. Then buy a hungry person a hot meal, give a needy family groceries, go to the casino (who knows maybe you’ll hit it lucky–fingers crossed for you) or simply put it back in your pocket. Only if you keep the dinars does that money become throw away money. Oh and please let me add. My brother is the Director of one of the 3 letter agencies so my obtained information of this being 101% scam is “REAL” intel.

One more thing that “REALLY” bothers me!!!!! These so called self proclaimed “gurus” put themselves on a “HIGHER” scale than you people by even calling you”SHEEPLINS or PEEPS”!!!!!!!! With the “REAL” money you make them buying that “USELESS” dinar they should be calling you “YOUR MAJESTY”!!!!!!!!!!!!!!!

I love Southern Shakers rants, ideas and commentary and thanks for that one, I really did enjoy it buddy!

If I only relied on Hack Guru “Intel” I would certainly agree with you 100% about the IQD being a “scam”!  However, I search, read and comprehend the Iraqi News Articles, and my personal feeling and summation is that Iraq will get past their current “Dictatorship” with Maliki, their economy will grow and expand, and over time my IQD that I currently hold will further increase in value.

I do feel that a SCAM on our community is when Hack Gurus who are being paid directly by Dinar Broker(s) to incite people to purchase “reserves” on the hype of false “Intel”.  That is blatantly a conspiracy, and a scam to defraud individuals.

But, please lets not throw the baby out with the bath water.  Lets go back a few years to 2008 – Bernard L. Madoff…

Bernie was celebrated by very respectable people and organizations, he had been audited by the SEC several times – passing these Audits with flying colors!  Here is what the Wall Street Journal had to say:

In 1992, The Wall Street Journal described him:

one of the masters of the off-exchange “third market” and the bane of the New York Stock Exchange. He has built a highly profitable securities firm, Bernard L. Madoff Investment Securities, which siphons a huge volume of stock trades away from the Big Board. The $740 million average daily volume of trades executed electronically by the Madoff firm off the exchange equals 9% of the New York exchange’s. Mr. Madoff’s firm can execute trades so quickly and cheaply that it actually pays other brokerage firms a penny a share to execute their customers’ orders, profiting from the spread between bid and asked prices that most stocks trade for.[22]

However, it is common knowledge to all of us now that Bernie was running a Ponzie Scheme [Wiki Link].  His scheme was an estimated $68 BILLION in fraud helping people Invest in Securities and Manage their Money.

So, my question is: Do we say that ALL Securities Brokers and Money Managers are “con artists” and “scams” just because 1 rotten apple mad-off with the money? (Pun Intended).  No, of course not.

It is my opinion that Iraq will be in a better situation for their economy to grow once Maliki is removed from office, and the new Government is seated after the April 30th 2014 Elections. 

I should note that some of my IQD holdings have already increased in value since I originally purchased them at a rate of 1170 to $1.00 USD – can that be called a “scam”?  

Granted, that micro increase to 1166 to $1.00 USD is not what I was hoping for two years ago when CBI (under Dr. Shabibi’s leadership) made this increase – but like you say, a penny is still a penny, and worth keeping.

I will conclude with my original post’s contention.  If you are a person who does study Iraq’s news, and does your own research, ignores the garbage “intel” being put out by Hack Gurus, if you happen to come to a conclusion that you wish to speculate on Iraq’s economy (i.e. their Dinar), then ONLY spend the money that you can throw-a-way!  🙂

Keep on trucking, thanks for helping your Employees and Friends, while staying safe on our Highways…. Shake! Shake!!!

~ Mr. IQD

 

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16 thoughts on “RANT! Southern Shaker “shakes” his finger at Mr. IQD!

  1. Aww shucks, I feel honored for being mentioned in the rant! That was awesome, it makes all the work we put into this worthwhile and like he said, if I can change one person’s mind, I have accomplished something. Hey, have you heard a few of us including myself have received an email from BBS Trending to get information on TNT Tony and RV. From me they wanted the original email I received from the IMF, but I sent her a few links to conference calls where Christine Lagarde was being mentioned as she asked me about that too. I hope this exposure blows up in Tony’s face, but then again, these people are so blinded that like TNT did on his conference call “Hey guys, BBC is not going to tell the truth, only We the people know the truth”, but once they read it and see that a credible investigative reporter did the work and collected the data of which I am sure she is not going to find any credible evidence of an imminent RV, hopefully they might start thinking about it.

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    • Wow, the BBC! I’m sure if they interviewed me, they would want to reveal my identity, which I’m not willing to do.

      But, I will drop this “hint” I have been on Television several times and I have been in a major motion picture as well.

      I do have a friend that does work for the BBC and iTV, but who wants to bragg…. 😉

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  2. I don’t do interviews, but apparantly my IMF email has gone viral and I get the most hits on it everyday and this woman from BBC, Cordelia also found it on my blog. I want this RV scam finished, it’s not a scam by not existing, but I mean these con artists selling the sheeple false dreams. For a long time I thought it was not my right to interfere and let people make their own choices, but then I realized we’re not all the same and the work we are putting into revealing this is paying off. These people need to get back to their lives, they hare holding on to a dream that is not going to come true anytime soon.

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  3. You can call me Biskitbob.

    Mr. IQD, this is the first time that I have replied here. I replied on the sheeples site (TNTDINARACTIVEBOARD) and got myself banned for life because I asked a question about verification on their information. Obviously I hit a nerve with that.
    Now, to make things even better, I got onto the FOREX practice site to play around. I received a call from one of the FOREX workers to greet me to the site. He asked if there was a specific currency that I had in mind and I told him it was the IQD and VND. His reply was that those currencies are NOT tradable at this time and he saw nothing in the distant future for that to happen. He did invite me to check into some of the other currencies such as the British Pound, Euro, Japanese yen and others. He told me he has been with FOREX for 7 years and has never seen the IQD or VND posted.
    It’s pretty amazing these poor, misled, sheeple are following the POS (piece-o-sh_t) gurus such as Tony, Okie, Frank26, Loechin and others. I would prefer these a$$whipes get tagged by the Feds and the BS stopped before it really gets out of hand.

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    • Hi Biskitbob,

      Thanks for stepping up and commenting here. Funny ain’t it how those hack gurus bann people who just ask simple questions like you did.

      Regarding your comment about the FOREX –

      Remember, the FOREX is a private institution, like a Stock Exchange. Therefore lets take for example, The New York Stock Exchange does NOT always list stock of a Corporation, even though this Corporation may be a viable company and could be a publicly traded stock on their exchange. Often that company will have to take their stock to a different exchange, such as The NASDAQ, or even to an International Exchange.

      The same would be true with the FOREX – just because they have made a business decision not to carry the IQD, does not mean it is not a tradable currency. It also does not mean that in the future the FOREX may change their minds about the IQD.

      Thanks for sharing your experience – no doubt there are thousands more just like you who have been banned – I hope to hear from them also.

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      • There is no IQD or IQN on the FOREX, period. This is another case of the hack guru efforts at pumping themselves up as schoozers with the big boys. Just as there is no connection between them and all the 3 letter governmental agencies. Exception, I believe Tony does have a very important meeting in March and they may be bestowing him with a nice orange jumpsuite as aan appreciation gesture for his efforts at scaming!

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      • CORRECTION TO MY REPLY:
        The word schoozers is a typo, I meant to type schmoozers.
        On second thought, Tony Renfrow is short one M of a true schmoozer, which would, in fact, make him a schoozer.

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  4. SOUTHERN SHAKER that was one hell of a rant If you did burn yours and your employees dinar why are you even interested in it anymore!
    I bought every Dinar my employees had bought for the amount they paid and I / “WE” had a Dinar burning at my company about 3 or 4 Saturdays ago.
    What will you say to them when the day comes to cash in and you’ve burned it all ! Even if it turns out to be 2% profit it seems to me they have blindly followed you the same way Tony’s followers do him. You say your brother is a director of one of the three letter agencies but don’t say which one the same way tony dose like it’s top secret. No one is going to take your word for it because you say your brother knows it’s a scam. may be if your brother speaks out publicly about what he knows it mite be credible for us all to know. I don’t think George Bush and Dick Chaney who made it possible for people outside of the inner circle to be able to invest in the possibility. Would be the master minds of a scam of this magnitude, ” This war will pay for itself ” GWB What do you suppose he meant by that? He meant when the Iraqi nation is back on it’s feet they will be one of the biggest players in the world markets. Going back to your burning party if I was one of your employees I would have gone along with it just so you don’t weed me out latter. But I’d have also done the smart thing by keeping back the majority of it. This brings me to your other point THROW AWAY MONEY you did what you say doesn’t exist THROW AWAY MONEY you paid your employees what they paid for it then burned it instead of selling it back to a dealer. yes you would not have gotten back what you paid your employees but you’d at least gotten some return. there for that was your THROW AWAY MONEY

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  5. Great rant Shaker This is my twitter acc and in the last wk I’ve gone through 3 acc tweeting on #wearethepeople lol. So this is not not my real name but you might know me as the one that Tony Turd gave out my phone number on his blast. I’ve tweeted 1041 just on this acc the last 3 days and I’m finally getting through to these dead heads. I’ve been predicting 100% guarantee each day the next day it wouldn’t happen and have given out all kind of links for docs. One good link is https://services.saccourt.ca.gov/indexsearchnew/ type Anthony Renfrow and there’s a case from 9-30-98 with him being charged with 77 felonies and on 11-5-02 he got 4yrs. My latest tweets are comparing the RV to the Nigerian scam. The Nigerian scam involves you sending a $1000 and receiving $1,000,000 I would ask you wouldn’t fall for that. The Dinar scam buying $1000 dinar and receiving $3,500,000 why would you fall for that. Cordelia of BBC told me she should have an article finished today so keep your eyes open. PEACE

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  6. If you don’t trust much of what your hearing you can trust Reuters to give you the best facts out there.
    BAGHDAD, Oct 3 (Reuters) – Many Iraqis have lost faith in their dinar currency but to some foreign speculators, it promises big profits. The contrast underlines the uncertainties of investing in Iraq as the country recovers from years of war and economic sanctions.

    The logic of the dinar bulls is simple. Iraq’s oil exports rose to 2.6 million barrels per day in September, their highest level in three decades; the country aims to hit 6 million bpd by 2017, which would put it close to Saudi Arabia’s current level.

    Even if unstable politics, militant violence and bureaucratic inefficiency prevent that target from being hit, Iraq still seems to be on the threshold of an oil boom that will transform its finances.

    Inflows of new oil revenue could give the country big external surpluses and push state finances deep into the black by late this decade – the classic recipe for a strong currency.

    “As far as our investors are concerned, when they buy Iraqi dinars they do know it is a long-term investment. You know it takes time for a country to rebuild itself,” said Hassnain Ali Agha, president of Dinar Trade, a U.S. dealer of exotic currencies.

    Because the dinar is not freely traded by banks outside Iraq, online dealers of banknotes such as Dinar Trade are the only way that most foreigners can invest in the currency. The Las Vegas-based company says it sells as much as hundreds of thousands of dollars worth of dinars daily, shipping dinar notes to thousands of customers in the United States and elsewhere.

    Agha said that because of optimism about Iraq’s oil wealth, there had been solid demand for dinars since his company was founded in 2004, a year after the U.S. invasion which triggered years of political violence and economic turmoil.

    Back in Baghdad, however, Iraqis themselves are not convinced. Many take what opportunities they have to change their dinars into hard currency, and conduct all but small day-to-day transactions in U.S. dollars.

    “We have no trust in the Iraqi dinar – we feel afraid to save it. We trust the dollar more. The dollar does not go up and down, it is fixed,” said housewife and mother-of-two Eman Saadeldine.

    WILD SWINGS

    The dinar has endured wild swings over the past three decades. In the 1980s, one dinar bought around $3, but economic sanctions imposed on Iraq around the time of the 1991 Gulf War sent the currency into decline and stoked inflation, which the government fuelled by printing money. By late 1995, $1 bought as much as 3,000 dinars.

    After the 2003 invasion, the central bank intervened in the currency market to strengthen the dinar, using its supplies of dollars to manage the exchange rate.

    But over the last several years, even as Iraq’s oil production has expanded, there has been none of the appreciation for which speculators have been hoping. The central bank now sells dollars in daily auctions at a fixed price of 1,166 dinars, a level barely changed since 2009.

    In fact, the dinar has recently faced downward pressure as a result of the international economic sanctions imposed on neighbouring Iran and Syria. Iraqi traders rushed to buy dollars to sell on illicitly to residents and businesses in those countries, which are hungry for hard currency.

    The dinar fell as low as 1,280 in the open market this year before Iraqi authorities reacted by allowing two state-run banks and some private lenders to sell dollars, helping push the exchange rate back to around 1,200 currently.

    Another factor counting against the dinar is the fact that the largest banknote is only 25,000 dinars. This often makes the currency unattractive to use in an economy where the banking system is primitive and deals are often done in cash.

    Saadeldine recalls paying in cash for a new house in 2009.

    “If our money had been in dinars, it would have been impossible for us to carry it. It was in dollars and we carried it in a small suitcase,” she said.

    The central bank has been considering plans to knock three zeros off the nominal value of banknotes to simplify financial transactions. This would not in itself increase the real value of the dinar, since prices would adjust in line with the redenomination, but economic experts say it could improve confidence in the dinar and thus boost its value eventually.

    “It would increase trust in the dinar even though its value would not change,” said Baghdad-based economist Majid al-Souri. “Indirectly, when trust increases there will be appreciation.”

    Earlier this year, however, the cabinet decided to suspend the technically complex redenomination plan until further notice, saying the economic climate was not suitable.

    The biggest obstacle to dinar appreciation is the fact that for now at least, Iraqi authorities appear content with the exchange rate in its current range.

    In a memorandum to the International Monetary Fund on economic and financial policies for 2011, written in March that year, the Iraqi government said it saw benefits in keeping the dinar stable.

    “We believe that the policy of maintaining a stable exchange rate continues to be appropriate, as it provides a solid anchor for the public’s expectations in an otherwise uncertain environment and in an economy with a still very low level of financial intermediation,” it said.

    LONG TERM

    In the long term, however, Iraq’s finances and economy may improve so dramatically that authorities feel comfortable allowing the dinar to appreciate under the pressure of flows of oil money into the country.

    The IMF expects this year’s estimated budget surplus of just 0.2 percent of gross domestic product to balloon to 12.1 percent in 2017. The country’s balance of trade in goods and services, in deficit as recently as 2010, is projected over the next five years to shift to a large surplus of 11.3 percent of GDP.

    Deputy central bank governor Mudher Kasim told Reuters that he expected redenomination of the dinar to go ahead in 2014 or later, by which time the amount of Iraqi currency in circulation would have increased significantly, making financial dealings in cash even harder.

    In the long term, the central bank aims to make 1 dinar equal to $1 with a combination of redenomination and appreciation, although that will take over three years because of instability in the Middle East, Kasim said: “If not for the regional circumstances, we would proceed faster with that plan.”

    Some analysts think the appreciation could go further. Kamal al-Basri, research director at the Iraqi Institute for Economic Reforms, an independent research body in Baghdad, said he expected the dinar to stay stable for the next three years, but that afterwards it might strengthen beyond parity against the dollar, including the effect of redenomination.

    For that to happen, Iraqi politics will have to stabilise, skill and education levels rise and the economy diversify so that it is not so heavily dependent on oil exports, he said.

    Speaking at the Baghdad currency exchange shop that he owns, Ahmed Abdul-Ridha said the dinar’s stability in the past three years was good, but it did not indicate the long-term trend.

    “We wish the dinar’s value would go back to what it was like before, when it used to equal $3 in the 1970s and even in the 1980s,” he said.

    “I expect that day will come. Why not? What we are going through is an abnormal condition…We are an oil country.” LOVE THAT!

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    • Now, despite Madoff being a scumbag – I have to admire his ability to deceive everyone for DECADES, pass several SEC Audits and he “made off” with not just a few Thousand Dollars or even a few Million – no, that man conned Tens of $BILLIONS from “smart” (and also trusting) people!!!! That is impressive!!! Then, you look at a two-bit Hack like Tony TNT, and you really do feel compelled to laugh.

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