Some thoughts from a retired Stockbroker - found on Baghdad Invest

Posted by Len Holliday (RETIRED STOCKBROKER)March 29, 2014
 
 
 
Dear Sirs, Will you allow me to share the truth about all this as I have no bias one way or the other! I’m sure not concerned about Tony(and who follows him and who does not) as whether he is right or wrong because no man in his right mind would invest his hard earned money based on what some nut job would say.
 
I was told a long time ago by a very wealthy man, that if I wanted to make some money to always be sure I got my advice from someone who has made some! Over the years that has proven to be 100% right, many times over! The U.S. State Department owns many Trillions of those Trillions of Dinars you talk about plus the U.S. Dollar will no longer the the world currency of choice. Those days are gone! Obama is the true scam in America and most people in the U.S. are just to stupid to see it or they just simple do not care or in some cases maybe just a little of both! The new World Currency coming to the forefront soon brought to the world by way of the EU/United Nations will be called the CRD which is a combination of six different currencies which all are backed by gold and silver. China and Russia both have been buying up gold like crazy for over 10 years now. Why do you think gold has done from $275 dollars per oz. up to almost $2000.00 per oz. until it has backed off of late to $1300.00 per oz.! And before it is over, gold and the Dow Jones will trade at par! The Dow Jones will drop back down to 6000 during a crash sometime this year in 2014 while at the same time gold will explode up in value to $6000.00 per oz. and the American people will wake up one morning soon and realize they are broke! All their money will be gone. At that point the world economy will have to re-set all currencies world wide and they will base their re-set value on how much gold and silver they have mined and also base it on how much they have in the ground based on accurate projection and the same with oil along with all other natural resources! So, when you look at a Country like Iraq who has two thirds of the worlds natural resources and 73% of the world oil supply, then $3 times ever how many trillions seems like pocket change! So, without going on and on about how all this will move forward and when, how, and why; I’ll leave you with that! If you would like to have all the details as to how they will do this and when and why then just leave me the yes, I want too know all of that on here and I will come back and tell you the rest of the story, If not; I will move on! God Bless! Len Holliday from Anderson, S.C.
 
http://www.baghdadinvest.com/tnt-tony-what-do-we-know/

RESPONSE FROM BI



Posted by baghdadinvestMarch 29, 2014

Hi Len, nice to see you here and appreciate the respectful approach you have taken in putting forth your views.

US State Department Owns Many Trillions of Dinars What gives you this impression? The foreign currency reserves of the U.S. ending February 7, 2014, are found here It is true the US does hold some Euro and Yen but of small amounts, no significant holdings of Dinar are listed. The scammers very sadly cite over and over this untruthful line with the consequence of selling more suckers into the dinar.

The new World Currency coming to the forefront soon Not interested. Quite possibly a Global Currency Reset of some type may end up taking place but I am slightly perplexed as to why the pro-active approach is to buy up Iraqi Dinars in the event of this taking place. What about the other 180+ currencies..?

So, when you look at a Country like Iraq who has two thirds of the worlds natural resources and 73% of the world oil supply, then $3 times ever how many trillions seems like pocket change! Iraq sells $95-105bn of oil each year (worth just $100bn avg) and have just $1.5bn gold bullion. Their whole annual economy is barely the size of Portugal or Algeria, and their the value of oil reserves will be spread over the next 100 years or so.

Iraq even has a budget deficit because the oil revenue doesn’t even pay for their increased govt spending, let alone have $300,000bn lying around for some delusional “RV” that doesn’t even exist.
2 percent of Iraq’s reserve is gold. The other 98 percent of Iraq’s reserve is the U.S. dollar which means Iraq’s value comes from the US dollar!

73% of the world oil supply For real??? wow.. just so you know Iraq does not have 73% of the worlds oil supply and secondly no economy is based on a finite resource such as oil. We all agree Oil is a finite commodity which is constantly on the decline either when a barrel of oil is sold or burnt meaning the value of the Iraqi Dinar just got weaker day by day which work exacerbate the situation of today which is under control into a situation that is on a constant decline.

Even if Iraq was to output more oil than what it currently does the currency is likely to have no effect since Iraq sells oil in USD and not Dinars. Also Iraq is not stockpiling its oil revenues, she is spending it on reconstruction efforts.

Recently Iraq purchased a whopping 36 tonnes of Gold, this month. A purchase worth around $1.5 Billion……. but guess what, it is not even enough to put Iraq in the top 50.

And finally regarding Oil…… according to OPEC proven oil reserves chart end 2012, Iraq holds a market share of 11.7%. Granted the numbers may have changed in the last 2 years but I am not sure that warrants your figure of Iraq having 73% of the worlds oil supply.
Regards!

RESPONSE FROM BARRY ON BI --

Posted by BarryMarch 29, 2014


Len Holliday – “The U.S. State Department owns many Trillions of those Trillions”
No it doesn’t. This has already been debunked inside a court-room. The people who started the rumor even openly admitted they made it up. If you’re still sucked into that long debunked manufactured guru lie, well what more needs to be said?…

Len Holliday – “Why do you think gold has done from $275 dollars per oz. up to almost $2000.00 per oz”
Inflation. Just like everyone else’s.

Len Holliday – “At that point the world economy will have to re-set all currencies world wide and they will base their re-set value on how much gold and silver they have mined and also base it on how much they have in the ground based on accurate projection and the same with oil along with all other natural resources!”

ROFL. Aside from the fact currencies don’t work like that, Iraq has barely $1.5bn of gold to back 88,000bn Dinar. That’s a “rate” of 58666:1 – or 50x LOWER than current. Likewise, China has printed over 110,000bn Dinar (compared to the USA’s $11,000bn) – there’s only $1.3tn of gold reserves on the entire planet…

Len Holliday – “So, when you look at a Country like Iraq who has two thirds of the worlds natural resources and 73% of the world oil supply”

Why do you lie so much, Len? Iraq has 140bn barrels reserves out of the world’s 1.2tn. That works out to 8% not 73%. And reserves have zero impact on a currency’s value. It’s exports that count.
For a retired stockbroker, you’re obviously not very good at maths. Or economics. Or separating fact from swivel-eyed fantasy…

Mr. Holliday has brought out some good points about the value of gold increasing in 2014, but it all depends on what happens to the value of dollar. The dollar value, in comparison to it's value in 1913, is actually worth about three cents. This was a planned inflationary operation that happens about every 80 years or so. Gold never changes in value only the fiat currency values. That's why they call it the gold standard. Some say there are new treasury bills in the bank vaults ready to take the place of the fiat currency. Other than the new $100 bill seen on the Internet no other currency has been displayed to my knowledge. The answers may be on the way.

              

The new Benjamins are out, I saw one the other day. Otherwise, no new currency, no plans for change. No gold standard, and no plans to return to any sort of fixed asset standard. Not a BASEL III requirement, and never was a BASEL III requirement. Gold? Well, it might go higher, in fact short term that might be likely, but my gut instinct says it's due for a major drop ... no real proof, I just don't like what I am seeing.

Inflation is what it is, there has always been inflation, and I suppose there always will be. The value is actually between .04 and .05, but that could be a rounding error somewhere. For what it's worth, the US was one of the last if not the last country to come off the gold standard. It was basically forced to by the countries it had helped after WW2 (Germany and Japan to name two) bit the hand that fed them, floating their currencies and using that to leverage US gold supplies.

Inflation is the way the elite steal from the people. Prior to 1913, there was very little inflation in the U.S. It is merely another form of taxation. Ask any expert.

Actually, it was lower, but definitely present From 1813 - 1914 your answer would be about .6 so less, but very definitely there. Of course in that same period average wages rose from .05/hr to about .20/hr. From 1913 to 2014 those same wages rose from .20/hr to $27.92.

So then we see a 4X wage increase offset by 40% inflation so we can say their effective pay in 1813 dollars was .12. Now from 1913 to 2013, we see a 140X wage increase offset by 95% inflation resulting in an effective pay of $1.396/hr. I'll take the inflation.

Do you have a link on the figures, Kevin?

http://www.measuringworth.com/uscompare/

http://www.measuringworth.com/datasets/uswage/result.php

Kevin, I see nothing specific to support your previous claims. Can you be more specific? Thanks.

You'll have to pull the date from the tables and do a little "cipherin" just like I did.

If you can't be more specific about where they are I cannot learn from your comments.

The information is all in the tables accessed by the links above. Other than some rounding, all the numbers were gathered directly from the tables there. All you need to do is input the proper years. The rest is simple math.

If you are referring to the post before that my information comes from weeks of research, including wading through the entire BASEL III agreement and associated paperwork and a life time of studying US History, but as to gold, you can start with the Bretton Woods agreement, and the circumstances around the 1971 US suspension of gold convertibility. You'll have to sift through a lot of crap to get to the truth.

i know all about the Bretton Woods Agreement which was to stick the smaller countries with US and Britain rules and regulations. From the information you presented, it is difficult to interpret anything.

Nixon stopped the run on US gold in 1971. It had been selling to foreigners for around $37.50 an ounce at the "5th" teller's window or vastly below the market price. When FDR set the gold prices in the 30s, he practically gave away all the US gold until 1971 to pay the "national debt" interest.

I think this guy is related to the Gooroos from Pooroovania.

Not a gooroo ....  just an ordinary person who can read ....

     

Obviously Len Holliday is reading crap!!

I agree, dinarstar, some of it is crap, but he has a few good points. However, I do read all the time, all day long, on articles of significance that affect us all. As to my qualifications, I have three college degrees, one in accounting, and I am former paratrooper. I don't like silly conflict, but I do present the facts as I did on the dinar tax situation.

No, Bretton Woods established the IMF and BIS. Under the agreement, the US agreed to fix it's dollar to at $35.00 an ounce. The other signatories agreed in turn to fix their currency to the USD. Since the US held half of the world's gold reserves and was really the only country capable of meeting the need it made good sense.

After helping to rebuild Europe and Japan, the potential values of other currencies started to grow, as did money supply. Of course pegged to gold $35.00 oz, the USD dollar did not. One by one the nations allowed their currencies to float, then turned around and began to cash in their dollar reserves simultaneously draining gold from the US and placing a downward pressure on the USD despite it's peg.

Finally in 1971 this became an untenable situation and the decision was made to stop the convertibility of gold, while slightly devaluing the value of the USD, eventually to around $42/oz to enhance competitiveness on the global market. The dollar was officially removed from the gold standard in 1976. It was the last currency to shift to the fiat currency system we have today.

Of course there is more to it than this, inflation, trade imbalances, costs associated with the Marshall Plan, Vietnam War, New Deal programs, massive foreign aid programs etc. But that's the Reader's Digest version. Nixon's move might not have been the best in retrospect, I'll not argue that, but something had to be done, and he made the hard decisions.

occe wrote:I agree, dinarstar, some of it is crap, but he has a few good points. However, I do read all the time, all day long, on articles of significance that affect us all. As to my qualifications, I have three college degrees, one in accounting, and I am former paratrooper. I don't like silly conflict, but I do present the facts as I did on the dinar tax situation.

My original comment was in no way shape or form directed it you, it was at the author of the original post.
My apologies if you felt my remark was aimed in your direction, it was not.
Looking at your credentials I'm sure you're much better qualified than I to carry this torch, I often tend to respond from a gut feeling, and not from the facts presented.
This has got me laying face down in the pig pen from time to time, but hell, it's been an interesting ride thus far, both as a civilian as well as the other.

I'm sure that the gold price was around $37.50 that the foreigners were able to purchase it for. I have read about the establishment of the IMF and the BIS at that time, and how they were screwing the smaller countries. Here is a couple of sites that are interesting.

http://www.moonlightmint.com/bailout.htm

http://www.bloomberg.com/news/2013-03-21/how-franklin-roosevelt-secretly-ended-the-gold-standard.html

FOLLOW UP FROM LEN HOLLIDAY

Posted by Len Holliday (RETIRED STOCKBROKER)March 30, 2014



Based on the comments I got back, I figured it would be best if I shared with you some of my background so you might know me a little better as to who I really am and how I think! First and foremost, I have no agenda or any bones to pick with anyone with regard to a world currency reset or with anyone on this site! I just was looking at some weather news on twitter and I come across you guys. I just had a few ideas and thought I would share them with you! I am the Lead Weather Forecaster at Firsthand Weather an internet weather site my son and I started together four years ago. My oldest son out of three is a Meteorology Student in his last year at the University Of Oklahoma! He is Matthew Holliday a 21 year old CEO of firsthandweather.com! He is nice enough to let me put up a weather forecast ever once in a while of which I love, as Forecasting the Weather is my true calling and Matthew and I both have a passion for the field of Meteorology! So, if you would like to see some of the most accurate weather forecast in the U.S. just go to; firsthandweather.com. I grew up in a small textile town in Upstate, S.C.; Belton, S.C. where my Grandfather was one of the last big cotton farmers around the Upstate Of South Carolina. When I graduated from High School at the age of 17 I left and moved over into East, Tn. where I went to college and I paid my way through by working like a dog on my Grandfather’s farm in S.C. He let me plant produce each year on 45 acres and we had several hundred acres of soybeans as well in addition to our main crop which was cotton. So, I learned to work very hard at a very young age! I paid my way through college and I graduated with a B.S. Degree in Applied Mathematics at the ripe old age of 21 years old! At that point I came back to S.C. and got hired as a stockbroker with a big Southeast Brokerage firm with their main office in Nashville, Tn. at their local office in Anderson, S.C. and within four years I was doing very well so they invited me to become one of their Partners! At the age of 26 I was the youngest Partner in the history of the firm. After working with them for nine years my friend Jim Morgan from Greeneville, S.C. ask me if I would open a new office for his firm Interstate/Johnson Lane in Charlotte, N.C. at an Anderson, S.C. location and I agreed to do that. Jim Morgan is still one of my very close friends and is now the CEO of Krispy Kreme(KKD). Jim has turned KKD around and I’m sure they will do very well for many years to come under his leadership! I was a stockbroker in Anderson, S.C. for well over 20 years until I got real sick for several years and had to step down. While still working for Jim Morgan in 1995 I was the #1 stockbroker in the firm out of several thousand brokers. As a matter of fact I was # 3 out of 85,000 stockbrokers in the entire world that year. Got wrote up in Registered Rep. Magazine as the ” Best Of The Best” stockbrokers in the U.S. that year out of the Top 10! So, why did I take the time to share all this with you? Because I get sick and tired of seeing other people being put down and trashed all over the internet in other forums just because they may not agree with you 100%! And in my opinion, that is just plain stupid! I am now retired as I am still sick and cannot work which is about to kill me in and of itself since I have spent my whole life in the middle of hard work! I also have several graduate degrees in Meteorology along with other science fields so that is why I have so much fun with the weather. I hoped this cleared up for you some of my back ground. It is way to late tonight for me to share more of my thoughts on the Iraqi Dinar! I hope to be back on here tomorrow and I will tell you what I think and where I come up with my ideas! Have a Great Night! Len R. Holliday

73% of the worlds oil supply is all you need to see from this buffoon to know that he's full of poop.  I don't care how many degrees he claims to have or how amazing he claims to have been in the stock market, he's listening to guru lies, not fact checking them, and then trying to pass them off as the truth.

Yea pretty much ... my reaction was "OK, so you are an educated idiot ....