Douchie for July 15-21 (7/22/2012)

On Thursday night Poppy decided to review the story of General Hugh Tant's (he called him Taft) mission to replace the old Saddam dinars with the new Iraqi dinar (IQD). 

"they flew in 24 tons of new currency - that tells you how rich the little country that we're dealing with is ... Iraq is only the size of California .... they are rich, rich, rich ... I'm so glad that you and I are invested in the richest country in the world"

https://www.freeconferencecallhd.com/playback.asp?n=-17-65-67241-17-65-6711-17-65-67125-17-65-67107-17-65-67-17-65-67-17-65-6754-17-65-6757;0MTAwNTkwMDY=1 (33 min in)

Not that it matters, but it was closer to 2400 tons Poppy.  Does this tell you much about the quality of the commentary on the dinar?  Far from making any effort to crunch the numbers and show you how Iraq can afford to revalue their currency to a level that will make us all rich, Poppy is content to just talk about how much their money weighs!  Wow!  Maybe we should just put a little more metal in the USD and then it will be worth more!  News flash!  One reason Iraq needed so much cash is that their banking system is lagging behind the rest of the world.  They're much more cash oriented than most developed countries. 


Also on Thursday one of my personal favorite gurus by the name of Foot Forward did a conference call where he said among other things that:
If he told all that he knows he would be killed
Next to the death of Jesus the RV of the Iraqi dinar will be the biggest event in history
Iraq has pulled 95% of the 000 notes out of circulation and the 5% that's left is being hoarded by wealthy Iraqis
The inflation figures from Iraq are bogus.  The real inflation rate is close to 14% and if they don't RV soon hyperinflation is going to set in.
$1.5 - $2 million won't get you very far so the RV has to be to more than $3 
With Foot Forward's commentary I don't usually need to respond with anything more than a simple facepalm.  However I will say that I've got it from two excellent sources that there are still plenty of 000 notes in circulation in Iraq. And I'll also say that any inflation-based revaluation of the dinar will be nothing more than an adjustment of a few % like we saw from 2006-2009 when they were bringing inflation under control.

https://www.freeconferencecallhd.com/playback.asp?n=-17-65-6775-17-65-679810738-17-65-67-17-65-6743-27-100-11626-17-65-67110;0MjMwMDYzMDA=0



On Friday Dan and Tony from PTR did a conference call and Tony cites an article saying the new notes will be introduced into the market starting in 2013 at a rate of 1 to 1 after the zeros are removed.  He interprets this as an RV, of course.  He says that's the rate for the Iraqs but we get the out of country rate (?) which will be more than 1:1.

https://www.freeconferencecallhd.com/playback.asp?n=68-17-65-67391249113-28-115-6859-17-65-67-17-65-67121-17-65-67;0MTA3MjgzMDk=1 (12 min in)

The article was talking about a redenomination, of course, not a 100,000% RV.  Anybody who knows anything about currency reform knows what utter nonsense that is, but then this is Tony talking so there ya go.  Any other week Tony, FF, and Poppy probably would have shared a Douchie but not this week. 




Frankie Frankie runs away with it this week.  On Sunday Frank Villa a.k.a. frank26 gave a classic performance of douchebaggery in a conference call from Hawaii addressing the recent forex glitch showing the IQD at $7.62.  First, Frank says that this forex rate wasn't a glitch as reported by a forex employee but was a signal to the financial world that the RV is about to happen. He's been calling the RV for nearly four years now. So do we believe the forex employee who has never lied to us or Frank who always lies? Frank even had the audacity to say that the woman's posture gave away the fact that she was lying to him, even though they were talking over the phone! LOL!!! 



Then Frank claims that he told people three days ahead of time in 2010 that the rate of $1.49 was going to appear on forex (he says around noon Oct. 14, 2010 .... actually I believe it was November of 2009 when this first glitch occurred) and then a few days later $1.49 appeared on the screen.  Frank has a history of telling his listeners after something "significant" happens that he told them ahead of time that it would happen, assuming that most will just shrug it off thinking that they missed that call and this Frank guy has incredible information.  If Frank knew ahead of time that $1.49 was going to appear in 2009 why didn't he tell his "family" ahead of time last week that forex would show $7.62?  I challenge anybody to provide me with any evidence that Frank said that $1.49 would appear beforehand in 2009!  I did a Google search and all I could find was references in 2010 and beyond claiming that he told his "family" ahead of time but nothing prior to 11-12-2009 when it actually happened.  Hell, anybody can make a prediction after the fact.  Let's see some proof that he said it before the fact.  

Then Frank started talking about an audit conducted by Ernst & Young when he pulls a Breitling and calls them "Ernest & Young", further evidence that Frank is truly clueless.  He goes on to claim that Ernst & Young said that Iraq could RV to $1.30, but that was just an audit and doesn't necessarily reveal the true value of $3+ that is being stipulated in the new contracts.  Okay, again .... let's see this Ernst & Young audit that says Iraq can support $1.30 without lopping first. 

Frank then goes on to say that the rate that appeared ($7.62) is insignificant because they simply doubled his rate of $3.86 to allow for the spread.  Uh .... Frank .....  3.86 x 2 = 7.72, not 7.62.  GEEZ!!! 

https://www.freeconferencecallhd.com/playback.asp?n=5-17-65-6741-17-65-676772327812349-17-65-67-17-65-67-62-127-17-65-67;0OTc3NDYwNjg=0