Currency exchange scandal by PayPal, Amazon and eBay With Millions in Iranian Rial Sales

Currency exchange scandal by PayPal, Amazon and eBay With Millions in Iranian Rial Sales

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Expose : PayPal, Amazon and eBay Iranian Rial Scandal with Millions of Sales
Whether knowingly or not, Americans are illegally buying Iranian Rial, while eBay, Amazon and PayPal are helping them in open defiance of U.S. law and international sanctions against Iran. In fact, these U.S-based illegal Rial sales appear to amount to more than $1,900,000 during the past 90 days alone.
See the full text of the President’s Executive Order here
In particular, Section 2 (i) says it’s illegal and they are guilty of violating the sanctions:
(i) that the person has materially assisted, sponsored, or provided financial, material, or technological support for, or goods or services to or in support of, any Iranian person included on the list of Specially Designated Nationals and Blocked Persons maintained by the Office of Foreign Assets Control (SDN List) (other than an Iranian depository institution whose property and interests in property are blocked solely pursuant to Executive Order 13599 of February 5, 2012) or any other person included on the SDN List whose property and interests in property are blocked pursuant to this paragraph or Executive Order 13599 (other than an Iranian depository institution whose property and interests in property are blocked solely pursuant to Executive Order 13599);
So, why aren’t these companies being held accountable for violating the Executive Order?
When Americans buy Iranian Rial through sellers with listings on eBay, Amazon and other platforms, PayPal processes the transactions, and thus provides the Iranian government with access to American cash via currency smugglers and organized crime. Yet, according the U.S. government, Iran is still a “state sponsor of terrorism”See the U.S. State Department’s terrorist list here.
Right now, without any checks or balances you could set up an eBay account for an Iranian Terrorist sell Illegal Rial and process the payments via PayPal! Does anyone else see a problem with this?

PayPal, Amazon And eBay Currency Exchange Fraud Exposed. Check Out The Whole Story : Section 1 To 7

 
Take a look below at the licensing required for legitimate businesses to sell currency both Federal and State requirements are not met by eBay and Amazon sellers. FinCen is a department in the US Treasury that regulates financial services companies. Unlike the State Licensing, FinCen doesn’t require companies to undergo an approval process. Any firm can register with them in about 20 minutes.

1. FinCen Regulates The Following Transactions:

Transactions that exceed $1,000 per customer within a 24 hour period. If a dealer conducts any transaction that exceeds $1,000 in an individual transaction or multiple transactions of the same buyer that exceed $1,000 within a 24 hour period, the following information must be kept and stored in the event of a FinCen audit:

1. Customer Name
   
2. Customer mailing address
   
3. Customer Social Security Number
   
4. Government Issued ID
   
5. Currencies the customer is purchasing
   
6. Gross profit on transaction
   
7. Date of order
   
8. What the customer paid with
   
9. OFAC Check
   

The records of these transactions must be held on file for 5 years.
FinCen also scrutinizes all transactions exceeding $10,000. The regulator requires all of the information listed above, in addition to a CTR filed with FinCen. A CTR (Cash Transaction Report), where FinCen wants all the details entered into their database for review.
FinCen also requires a SAR (Suspicious Activity Report) to be completed in some instances. This form must be filled out for any transactions that may arouse suspicions due to potential irregularities. It must be submitted to FinCen immediately.
There are multiple listings on eBay exceeding the FinCen limits without proper record keeping or filing.
The sellers that are violating these rules on eBay, Amazon, and PayPal are not registered with the UST. It’s impossible to comply with the FinCen record keeping regulations while selling currencies in a third party marketplace without access to customer data. Since the customers are virtually anonymous, sellers are unable to collect the customer’s social or Government issued ID.
Sellers that violate FinCen reporting and record keeping rules and regulations are committing a Felony and subject to a $5,000 fine. Thousands of these transactions have happened on eBay, Amazon, and through PayPal. Since these companies facilitate the transaction, they are also guilty of failing to comply and risk facing the same penalties.

2. State Licensing Requirements

Over 20 US States require people that sell currency to be licensed by their state financial regulators. The state licensing process is in-depth with no guarantee of approval. Unlike the FinCen registration that virtually any seller of a currency can be approved for, the State licensing is much more stringent.
Every state has different approval requirements, but the following requirements generally apply:

• Complete AML program
  
• Have a full-time Chief Compliance Officer
  
• Meet minimum business net worth requirements
  
• Complete certified financial audits by a CPA
  
• Undergo a criminal background check via the FBI
  
• Fingerprinting placed on file
  
• In-depth analysis of business activities, websites, office locations and other assets
  
• Be bonded and Insured. (An expensive process that can easily cost over $100k per year)
  
• Submit application fee (some states don’t charge a fee while others charge over $10,000)
  
• List of Agents (People that sell under your licensing)
  
• Monthly, Quarterly, BiAnnual, Or Annual reporting. Typically gross amount sales and gross amount earned from the exchange
  

Conclusion: State licensing is extremely expensive and time consuming. None of these eBay sellers meet the licensing requirements, therefore they are operating illegally in these states and using eBay, Amazon and PayPal to illegally distribute currencies.
Penalties for violating state regulations are very harsh and in some cases require violators to refund 100% of the proceeds to their customers. In addition, regulators can impose severe fines and ban companies from operating in the state altogether or even file criminal charges.

3. AML Compliance

Since the penalties for violating these regulators are so strict, companies are required to have an AML (Anti Money Laundering) program. This provision of an AML program can be anywhere from 5 pages to 500 pages depending on the size of the company and the depth of their network.
The AML program explains internal company processes to combat money laundering, including compliance collection and reporting.

4. Agency Relationships

Agency relationships allow companies to operate non MSBs / unlicensed state currency exchanges under their license, which means the company is responsible for their activities and in most cases the fulfillment of the product being sold.
In order to be an agent of another organization’s license, an entity must undergo the same in-depth, due diligence process that applies to license holders, because they are accepting liability for all of those agents. If an agent goes rogue, then the license holder will face the same consequences.
A good example of an agency relationship is Western Union and Publix Supermarkets. Publix sells the WU services to their consumers and Publix receives a share of the profits, without having to be licensed themselves. WU will hold the licensing, handle reporting, compliance, etc. Agents allows MSB’s to scale their operations, but it’s up to the MSB to be selective with their agents due to the immense risk.
eBay, Paypal, and Amazon may be properly licensed, but they facilitate illegal currency transactions on their platforms. None of these companies would extend their licensing via an agency relationship with a small time marketplace seller, especially when these sellers are selling the currency from countries listed on the Terrorist Sanction list and are processing transactions that exceed reporting thresholds without complying with the FinCen KYC requirements or state licensing compliance requirements (which have no minimum reporting requirements).

5. Banking Regulations

Getting legal, banking as a Money Service Business (MSB) is a tough ordeal for new and established companies alike. Due to the account risks and the repercussions, if the bank collaborates with a poor or fraudulently operated MSB, significant fines and criminal felonies can be brought against all parties involved, including the bank. These eBay and Amazon sellers are not registered or licensed, their banks almost certainly do not know what they are processing for. Businesses that lie to their bank about the nature of their business are committing felonies (bank fraud), so eBay and PayPal are aiding and abetting additional criminal activity every time they allow that seller to withdraw funds to their bank for illegal currency transactions.

6. Consumer Risk

Consumers could also be harmed by illegal transactions. The State licensing and FinCen was put in place to combat illegal financial services companies and money laundering.
Most consumers probably have no idea that it is illegal to own or purchase the Iranian Rial and that they could be funding terrorist activities by doing so.
It’s not the consumer’s responsibility to understand the complexities of the money services industry. Sellers should be expected to operate within the law, but many are clearly failing to do so.

7. Source of Currency

The source of the currency is another major compliance hurdle that compliant company takes very seriously. They go to great lengths to make sure they are buying currency from legitimate sources that are not involved with terrorism or other illegitimate activities. Since no legitimate source sells the Iranian Rial, the seller, their bank, eBay, Amazon and PayPal are at risk.
 

SECTION 2: There is no legal way to import currency from Iran: See the 4 points given

One investigator conducted a test and contacted various online suppliers and asked them to supply the Iranian Rial. One anonymous person was contacted who said he could obtain Rial. Here is a screenshot the corresponding message exchange over WhatsApp:

This dealer clearly admits the currency is smuggled through Jordan and then onward to the U.S.
American investors who buy Iranian Rial may be naive or unaware that the economic sanctions against Iran are still in force and legally prohibit them from buying or possessing IRR…
Yet, PayPal and other major corporations that should be savvy enough to understand financial regulations are openly ignoring the U.N. and U.S. government sanctions, while profiting from the booming online Rial trade.
Either U.S. government watchdogs haven’t noticed that Americans are eager to buy Rial, or else they’ve decided to overlook PayPal and other corporate scofflaws as they continue to break the sanctions against Iran.
Why are these corporations, special? Others have been prosecuted for similar offenses Here is a list of some companies that have violated the sanctions.

1. It’s still illegal to buy Iranian Rial

Right now, the Iranian Rial is being sold widely even though it’s illegal, even though as of August 2015, Americans cannot legally purchase IRR. Yet, U.S. authorities are overlooking these sales.
Until the sanctions are lifted or the authorities act to stop illegal currency sales, the booming U.S. black market in Rial will continue to thrive.

2. A long history of economic sanctions against Iran

Many governments and international agencies have imposed strong economic and financial sanctions against Iran over the years, and these sanctions are still supposed to be enforced. However, at least with regard to Americans who are eager to buy Iranian Rial, the sanctions are being overlooked.
The U.S. was the first nation to place sanctions on Iran after the Iranian Revolution in 1979, and has led the efforts in enforcing international restrictions ever since.
In 1995, before any serious concerns arose over nuclear proliferation, the U.S. government expanded its original import-export sanctions to prohibit companies from doing business with the Iranian government.
The U.S. has led an international effort to use economic and financial sanctions to influence Iranian policymakers.
U.S. policymakers want Iran to abandon its uranium enrichment projects, which the U.S. and other world powers fear might be used to produce nuclear weapons.
The United Nations Security Council has coordinated with the United States to enact a long list of sanctions against Iran over the years.
In 2006 the Security Council issued Resolution 1696which requested that the Iranian government stop its uranium enrichment activities.
Resolution 1737 was passed shortly thereafter, which changed the UN’s effort from a request to a demand, and imposed sanctions against nuclear-related business activities. This regulation also froze the assets of certain key companies and individuals involved with the Iranian nuclear projects.
Those sanctions were followed by Resolution 1747 in 2007, which imposed an arms embargo, the freezing of Iranian assets and further prohibited financial dealings between Americans and Iranian businesses and organizations.
Following the UN action was Security Council Resolution 1803 in 2008. This extended the asset freezing even further and required states to monitor activities of Iranian banks and financial institutions.
Subsequent Resolutions strengthened the sanctions, including Resolution 1835 in 2008, Resolution 1929 in 2010 and Resolution 1984 in 2011. These additional sanctions were designed to further tighten the noose around the Iranian economy.
In 2012, the Security Council passed Resolution 2049, which extended the mandate period for the Iran Sanctions Committee for another year.
Beyond the U.S., the European Union and various other countries have imposed their own complementary sanctions against Iran, because of its nuclear development program.
In 2012, the EU agreed to impose an oil embargo against Iran, and freeze certain Iranian central bank assets on deposit in Europe.
In that same year, nearly all Iranian banks were disconnected from SWIFT, the world’s electronic inter-bank communications platform.
Australia and Canada also independently imposed financial restrictions and other sanctions against Iran.
These sanctions were all intended to strangle the Iranian economy and force the Iranian leadership to heed the demands of the U.S. government.
Yet, the sanctions are being ignored by those Americans who are eager to buy Iranian Rial.

3. Sanctions were meant to impact the Iranian Rial and the economy

From the beginning, the U.S. government and its allies designed the sanctions to have maximum impact on Iran’s economy and currency. Story from Bloomberg Business.
The U.S. specifically targets the Iranian Revolutionary Guards and other governmental-business entities, which control much of Iran’s national commerce.
As indicated earlier, at first the U.S. targeted the Iranian oil and petrochemical industries, including efforts to reduce oil exports. The restrictions were gradually expanded to impact the entire Iranian economy.
Over time the restrictions against interacting with the Iranian financial system have become nearly seamless in their coverage.

4. Here are the activities specifically outlawed under various provisions of often-overlapping sanctions-

• Invest in Iran, which means buying the Iranian Rial
  
• Deposit money or maintain money in the Iranian banking system, which includes Americans buying and holding the Rial
  
• Import any goods or valuables from Iran, which happens when dealers sell the Rial to Americans
  
• Facilitate any kind of trade with Iran, including buying Iranian products such as physical Rial currency
  

Logically, these successive layers of restrictions and sanctions apply to all forms of Iranian banking and financial transactions, including currency sales in which Americans buy Rial from dealers online or in person.
 

SECTION 3: Economic Sanctions? Not When You Buy Iranian Rial Using eBay, Amazon or PayPal

The U. S. – hosted Rial marketplace is growing quickly. In fact, Rial sales on eBay alone reached over $1.9 million during the past 90 days. Investors buy the currency online from listings posted on eBay, Amazon or other platforms, then PayPal and other payment processors complete the transactions.
However, such activities clearly violate PayPal’s published Acceptable Use Policy.
In particular, as shown in the image below, Section 3 (g) of PayPal’s Policy specifically forbids transactions involving currency exchanges.

Ordinary retail buyers shouldn’t be blamed, since the currency is being offered so widely based on the credibility of these major companies.
It’s difficult to believe that senior decision-makers at PayPal, eBay and Amazon could be unaware that illegal currency is being actively sold through their platforms.
Even worse, these companies are actively targeting consumers with advertising to achieve more sales, as shown in the screenshot of a sample advertisement below..

For American investors already buying the Rial, the economic sanctions against Iran are irrelevant. Either nobody has told them that buying IRR or conducting any other financial business with this “enemy nation” is against the law or else they’re so eager to own Iranian currency that they just don’t care.
 

SECTION 4: Evidence of illegal sales of Iranian Rial

Iranian Rial is being openly and widely sold on eBay and Amazon

Even while the sanctions against Iran supposedly continue in full effect, Americans who want to buy Iranian Rial are flocking to eBay and Amazon.
As of late August 2015 there were approximately 700 active listings on eBay through which mostly-professional sellers offer Iranian Rial banknotes to anyone who wants to buy IRR.
See the eBay listings offering Rial
Rial is also being illegally sold on Amazon
Illegal Rial sales in the U.S. appear to be growing, although the evidence is only anecdotal so far.
Here’s a sample of the sales volumes from eBay:

Rial dealer (90-day profile)	Total sales volume (USD)	Link to Rial dealer
yuri111	633,380.56	http://www.ebay.com/usr/yuri111?_trksid=p2047675.l2559
vslugmike2	340,666.39	http://www.ebay.com/usr/vslugmike2?_trksid=p2047675.l2559
jollywoodfilms	77,560.73	http://www.ebay.com/usr/jollywoodfilms?_trksid=p2047675.l2559
massuer	13,276.27	http://www.ebay.com/usr/massuer?_trksid=p2047675.l2559
khakius2014	5,927.65	http://www.ebay.com/usr/khakius2014?_trksid=p2047675.l2559
fara_dara	3,110.92	http://www.ebay.com/usr/fara_dara?_trksid=p2047675.l2559
collectibles*plus*art	3,336	http://www.ebay.com/usr/collectibles*plus*art?_trksid=p2047675.l2559
mybanknotes	9,187.26	http://www.ebay.com/usr/mybanknotes?_trksid=p2047675.l2559
gizmo2010mike	61,912.07	http://www.ebay.com/usr/gizmo2010mike?_trksid=p2047

The above data were gathered from terapeak and the full sales data can be found here.
These illegal Rial sales are being conducted on the PayPal platform and underwritten by Wells Fargo. In fact, it appears that WF has been underwriting at least some portion of PayPal’s online processing business since 2002.
In spite of this obvious-thriving illicit marketplace for Iranian Rial sales, no U.S. government organization seems to be investigating the sanctions-busting Rial dealers or their customers.
 

SECTION 5: Are Americans who buy Iranian Rial scofflaws or farsighted investors? Consider this

From the apparent volume of retail sales on eBay, Amazon and other online platforms noted above, it seems that Americans are increasingly eager to buy the Rial.
Although it’s difficult to speculate on their motives, it’s possible that they’re buying Rial for the same reasons investors have recently been buying Iraqi Dinar and other foreign currencies.
If the demographic is similar, many small-scale Rial buyers are seeking an opportunity to achieve large gains from relatively small investments.
It’s also likely that among the Americans buying the Iranian Rial online from illegal sellers at eBay and Amazon, there may be some larger, institutional investors who seek to make a “play” on the Iranian economy before the sanctions are removed.
After all, if mom-and-pop investors have noticed the opportunity to buy Rial and are clearly taking advantage of it, then it’s also likely there are at least a few institutional investors seeking to scoop up low-priced IRR for resale after the sanctions are removed.
Of course, unlicensed and illegal currency dealers are also active participants and beneficiaries of the black market for Rial in the U.S. As seen earlier, most online Rial dealers appear to be small-yet-active sellers of the forbidden currency.
There are sobering yet unanswered questions: Since Rial is illegal in the U.S., where are the dealers obtaining their supplies? How many Rial sellers are actually agents for the Iranian government, assigned to access the U.S. banking system?
Since Rial banknotes are illegal in the U.S. and are available only from the Iranian banking system, there must be a network of Iranian financial agents that support the value of the IRR while harnessing the power of the U.S. banking system.
To demonstrate the ease at which currency can be purchased, we purchased from several of the dealers and then notified PayPal about the illegal activity. Nothing was ever done. These are brand new, never circulated notes directly from the Iran Central bank.

When Americans buy IRR from Iranian sellers, the money received may be directly benefiting terrorism. This is contrary to the wording and the spirit of the sanctions against Iran.
Yet, an alarming number of investors are ignoring the sanctions. So, are Americans right or wrong to buy Iranian Rial?
 

SECTION 6: Why U.S. corporations help American citizens illegally buy Iranian Rial?

Although Americans purchase Rial for a variety of reasons, including the desire to profit from an expected rise in the currency’s value once sanctions are lifted, the reasons major U.S. corporations help them evade those sanctions are less clear.
Corporations like PayPal, eBay and Amazon would seem to have little to gain and much to lose by openly allowing sales of a commodity (Rial banknotes) that are clearly illegal under current U.S. law.
These American companies host Rial sellers routinely, apparently without determining whether they’re U.S. citizens or perhaps Iranian citizens or others acting on behalf of the Iranian government or business interests.
Or, perhaps the marketplace is too small for the in-house compliance staff at PayPal to notice the widespread sanctions-busting activities of the buyers and sellers on their banking platform.
It may be argued that these companies have simply overlooked their legal obligations, and would correct any compliance issues once brought to their attention.
However, PayPal staff has been made aware of this illegal activity several times, yet they still refuse to comply with the law.
The only sure way to understand the reasons PayPal, Amazon and eBay are participating in, indeed creating this illegal online marketplace would be for the appropriate authorities ask them about their practices.
It’s perhaps understandable that profit-making corporations would turn a blind eye to “gray area” sales of Rial and other currencies of nations disfavored by the U.S. government.
But what about the responsibility of the U.S. government itself in allowing Rial sales? Perhaps the feds are overlooking the Rial sales industry for political reasons, such as not wanting to derail diplomatic discussions.
Still, illegal sales have been increasing for more than a year, long before there was any discussion about the possibility of ending the sanctions.
Perhaps the authorities haven’t been made fully aware of this large-scale circumvention of the sanctions against Iran.
For those who buy Iranian Rial…. PayPal, eBay & Amazon help evade government sanctions
Major corporations are openly breaking U.S. federal law and international sanctions by creating, hosting and participating in the online Rial sales marketplace.
And, it seems that ordinary Americans have “jumped the gun” by buying Rial ahead of the actual lifting of sanctions.
The soon-expected removal of sanctions is certainly fueling Americans’ eagerness to buy Iranian Rial, yet it’s too early to know whether the value of the Rial will rise or fall after the sanctions are lifted. .
The only certainty is this: Until the sanctions against Iran are actually removed by UN and U.S. authorities, the illegal-yet-overlooked online Rial sales are certainly strengthening the Iranian government’s bargaining position while weakening that of the U.S. government.
 

SECTION 7: The Iranian Rial’s future

As signaled in recent reports from financial news organizations, the anticipated easing of sanctions, together with improved relations between Iran and the U.S. as well as other nations, is expected to boost the value of the Rial.
In the meantime, until or unless U.S. authorities cut the banking connections by which PayPal, eBay, Amazon and other American companies are undermining the government’s international credibility and strength, Americans will continue to buy Rial and use the U.S. banking system to feed the Iranian government.

Why CurrencyLiquidator.com released this story:

As a licensed money services business (MSB) we’re required by law to report illegal activities in our industry. Prior to the publication of this report, several attempts were made to inform PayPal, eBay and Amazon regarding the continuing illegal use of their platforms, yet the black market Rial sales continue.
Full Disclosure: We’re a foreign currency exchange and we offer a wide variety of foreign currencies from around the world. As of the original publication date of this report (early September 2015) the Rial isn’t yet legal for sale. Once the Iranian Rial becomes legal to own, we’ll offer it to you through our Buy Iranian Rial page.
Article References:
“See the full text of the President’s Executive Order here”https://www.whitehouse.gov/the-press-office/2013/06/03/executive-order-authorizing-implementation-certain-sanctions-set-forth-i
“See the list of states which sponsor terrorism here” http://www.state.gov/j/ct/list/c14151.htm
https://www.whitehouse.gov/the-press-office/2013/06/03/executive-order-authorizing-implementation-certain-sanctions-set-forth-i
“sanctions’” http://iranprimer.usip.org/resource/us-sanctions
“Here is a list of some companies which have violated the sanctions” http://www.treasury.gov/ofac/downloads/t11sdn.pdf
“expanded” https://en.wikipedia.org/wiki/Iran_and_Libya_Sanctions_Act
“uranium enrichment projects” http://www.bloombergview.com/quicktake/irans-uranium-enrichment
“Resolution 1696” http://www.un.org/press/en/2006/sc8792.doc.htm
“Resolution 1737” https://en.wikipedia.org/wiki/United_Nations_Security_Council_Resolution_1737
“prohibiting financial dealings” https://en.wikipedia.org/wiki/United_Nations_Security_Council_Resolution_1747
“extended the asset freezing even further” http://legal.un.org/avl/ha/ga_1803/ga_1803.html
“Resolution 2049” http://www.un.org/press/en/2012/sc10666.doc.htm
“SWIFT” http://www.swift.com/about_swift/shownews?param_dcr=news.data/en/swift_com/2015/PR_iran_sanctions_agreement.xml
“financial transactions” http://www.forbes.com/sites/jonmatonis/2013/06/17/government-of-worlds-reserve-currency-targets-iranian-rial/
“Acceptable Use Policy” https://www.paypal.com/webapps/mpp/ua/acceptableuse-full
“terapeak” The above data were gathered from http://www.terapeak.com/
“here” https://www.currencyliquidator.com/blog/wp-content/uploads/2015/08/Illegal-Iranian-Rial-Sales.pdf
“boost the value of the Rial” http://www.al-monitor.com/pulse/originals/2015/05/iran-import-sanctions-investment-consumer-foreign-assets.html

I'm glad you posted this ssmith.

I warned people about this currency.  You know how everyone is searching for Buy Iranian Rial?  I was able to get my video and website to #2 and #3.  

Hopefully, it wakes a few people up.  I mentioned this article you posted:

It is completely illegal to buy Rial at this time.  In fact, Iran is the world’s biggest counterfeiter.  So why would anyone buy this countries currency?  Not only is it illegal, but who knows if it is even real.

muskie wrote:It is completely illegal to buy Rial at this time.  In fact, Iran is the world’s biggest counterfeiter.  So why would anyone buy this countries currency?  Not only is it illegal, but who knows if it is even real.

Well said, and many sites are getting shutdown. Hopefully anyone who made a mistake investing in the Iraqi Dinar won't make the same mistake and buy rials.

YOU warned people Nick? Lol, look at the BS you spout on your own sites Nick, I am warning people about that!! Again Nick you are only posting that to link back to your own BS, you can't make a post that doesn't link to something of your own can you? Of course not that's what you are all about!


I am going to again ask you Nick what qualifies YOU to give people advice about currencies? YOU who in Dec 2013 was yourself seeking the advice of the likes of Tony Renfrow only to start your own "advice" forum just a MONTH later after listening to Tony for weeks before deciding he was a fraud! How did you learn so much in a month?


Just a little reminder about when Baghdad Invest was warning people about YOU and YOUR own little Dong scam, again here are YOUR instructions in your  exact words from your own site,
 


["first, Watch the video.

then, Subscribe to the newsletter and make sure you click on the confirmation email. Follow on Facebook and Twitter also just in case email or Youtube goes down.

Then, Scan your receipt of your DONG purchase. Here is a link to buy more, be quick about it.

finally, Wait for my newsletter on Tuesday night/Wednesday morning"]


Your own words Nick,

 "HERE IS A LINK TO BUY MORE BE QUICK ABOUT IT"!





Come on Nick I have asked you to explain that nonsense you said about Iraq removing the large notes "Just as the U.S. did" but you have been avoiding that, why?


Come on Nick EXPLAIN how Iraq removing their large notes notes today would be even remotely "Just as the U.S. did"? YOU said that now how about you explain it?


You also said in that same "article" that Iraq would "revalue" the Dinar, OK now how about you explain how Iraq is going to "revalue" 60+ TRILLION Dinars by any significant amount?


Come on now Nick a man with a whole months worth of financial education should be able to answer those simple questions don't you think?

I pointed this out this was illegal back when they were just talking about lifting the sanctions and the pooroo sites started talking about investing in Rial. Had a few people tell me I didn't know what I was talking about.

Nick says he warned people about the scam mentioned above but he posts BS like this on his own site(s)

["Dinar Revaluation and the Global Currency Reset

Iraqi citizens would love to no longer use the US dollar, however, that will not happen until the economy of Iraq stabilizes.  Here is the latest Iraqi dinar revaluation update; the infrastructure must be improved first off as some Iraqi citizens do not have running water or electricity.  Eventually, as we all know, the CBI will remove the larger dinar notes from circulation (just as the U.S. removed $500, $1,000, $10,000) and most likely print new dinar notes with new images and possibly even different denominations.  New Iraqi Dinar denominations possible are 1/4, 1/2, 1, 5, 10, 20, 50, and 100 dinars.  This would coincide with a reset of the currencies as a part of the global currency reset.  If the fractional notes are reintroduced, then coinage might be 1/100, 1/50, and 1/25.  We should keep abreast of the news coming out Iraq, monitor Iraqi YouTube channels, Twitter, and Facebook pages, and keep in direct contact with our troops over there for real firsthand news.  The global currency reset is coming, and with it, the Iraqi Dinar Revaluation.  Be on the lookout for scams, and do not turn over any of your dinar except at one of the big three banks.  If you want to know when will the Iraqi dinar revalue, keep checking our ******** page"]


And that's but a tiny fraction of the kind of nonsense he is leading people to by pretending to "expose" other scammers! His "Exposing" articles/videos just happen to ALL contain links back to his own bullshit! Coincidence? SURE it is!!!Lol!

Nick is definitely a two-for-one, a scammer and a spammer!!!

The point of SEO is to rank for as many terms as possible, regardless of whether or not you believe in what you are writing.  Why am I ranking for buy Iranian Rial?  Do I support it?  No, not at all, and I even received a letter from Seaton's attorneys threatening me to remove the video, which I will not remove.

I have so many sites, the dinar is the least of my concerns, you can keep trolling, that's fine, I can always go back and update my page when I'm ready.  I wrote that article on the Iraqi Dinar Revaluation so long ago, only you seem to care about it.  Oh, I just made $100 while I wrote this, how much did you make?

nickgiammarino wrote:The point of SEO is to rank for as many terms as possible, regardless of whether or not you believe in what you are writing.  Why am I ranking for buy Iranian Rial?  Do I support it?  No, not at all, and I even received a letter from Seaton's attorneys threatening me to remove the video, which I will not remove.

I have so many sites, the dinar is the least of my concerns, you can keep trolling, that's fine, I can always go back and update my page when I'm ready.  I wrote that article on the Iraqi Dinar Revaluation so long ago, only you seem to care about it.  Oh, I just made $100 while I wrote this, how much did you make?

No Nick I am not trolling I am just exposing another scum-sucking guru, I am warning people about who and what you are! It's not about what you post here, it's about WHY you post and the goofy nonsensical things you say to people once you have lured them to your sites! 


[Nick said;
 "The point of SEO is to rank for as many terms as possible, regardless of whether or not you believe in what you are writing"]
 
You spew little more than total nonsense on your sites and from what you said above you appear to admit that it makes little or no difference if what you say is not even true as long as the traffic numbers are maintained?

IOW, "Feed'em Bullshit to Keep'em coming back"!




[Nick also said;
"I wrote that article on the Iraqi Dinar Revaluation so long ago, only you seem to care about it.  Oh, I just made $100 while I wrote this, how much did you make?"


How long ago you wrote it makes no difference and it could not have been very long anyway since you just started your site last year! Besides it's only an example of the silly nonsense you spew but are afraid to discuss, maybe we should get something more recent? There's lots t choose from Lol!

BTW, I run a mining equipment repair/machine shop and my income is by most standards very comfortable so don't try that "what do you make bullshit on me", I make my living honestly -you should try doing the same!



The fact is you know absolutely NOTHING about global economics or currencies as evidenced by not only your absurd statements you make on your sites but by your own admission! Yet you will give people potentially life ruining advice about investing if they listen to your nonsense but your advice is based on WHAT? Those incredibly stupid NESARA based sites you have so obviously been visiting? As I have pointed out several times before this is not a game Nick, people actually take to heart some of the stupid BS you post and could suffer irreparable financial damage by following your "advice", that doesn't bother you does it Nick? You justify it by telling yourself "they will do it anyway listening to someone so why not me"? Isn't that what you tell yourself? I have read some of that incredibly dumb "advice" you spew over there and most of it would be comical if it wasn't for the fact people could be harmed, so tell me just WHAT MAKES YOU ANY DIFFERENT THAN TONY OR ANY OF THE OTHER GURUS?




 I keep asking you just how the dickens you went from weeks of asking Tony Renfrow  for advice to your own site saying the things you do now in only about six weeks but you simply ignore that,  While some of your information may be correct as far as exposing OTHER scammers it's your purpose for doing so that stinks, you are using that as a vehicle to post links to your own nonsensical guru spew which is often as bad as that from the very people you throw under the bus for your own gain!

You call me a troll for doing the same thing you are doing to others, to your competition, but why should you get a free pass for the things you say Nick? Take that bullshit I have been asking you about, and that's only a small part, just a quick grab I chose because that one mentioned Dinar! I have lots of others but you are unwilling to back up the ridiculous things you say, why?


The point is Nick your spew on those goofy sites of yours is as bad as what is said by some of the very people you throw stones at yet I am a "Troll" for pointing you out??? Really? Tell me why you should be allowed to spout nonsense you can't back up, and indeed won't even talk about on an open uncensored forum, without the same scrutiny that you seem to want to hold others to? Again you are only throwing the others under the bus for own gain, just a vehicle used to post links to the nonsense of your own!


Just like that somewhat comical exchange at BI's site where you tried everything you could to get links to your sites posted, you even laughed about knowing that 90% of the article you wanted posted was false and then suggested instead some bullshit "top ten" nonsense! Since you thought it was a private conversation the REAL Nick was present and you clearly said your aim was to, in your very own words,

[“HA-Ha ok, well, let’s try to work on a title that we can post, maybe a top 10 list, like, top 10 things to do before you Go to the bank?

I want to make something that people will read and forward to their friends. Did you see the one I did about Zimbabwe?]


It made no difference that it was simply nonsense and  then just as now you don't care in the least if people are harmed by the things you say, it simply doesn't matter as long as it attracts traffic does it Nick! Not so funny is it when people see it and see what you are REALLY about!


Come on Nick I am calling you out on just a couple of your nonsense statements, how about you explain just how removing those large notes here in the U.S. is in any way even close to what Iraq would be doing?

How can Iraq revalue, like YOU SAID, over 60 TRILLION Dinars by any significant amount?



Come on Nick attacking me by calling me a troll don't get it done, I am no more a troll for calling you out on your BS than you are for what you do to other gurus I have only been telling the truth about you and we both know it so how about you cut the nonsense and just explain those two silly statements to us, there are LOT'S more where those came from, Lol!

:ojlu:

Hi Nick, ready to explain a few things or are you going to continue to hide? Lol!

Come on Nick let's discuss your BS, I have some more recent stuff if you like but how about we start with what I have asked already?


Come on now, a man with a whole month's worth of financial research behind him should be able to answer a few simple questions, right?

Come on Nick if you have nothing to hide and can back up the things you have been telling people then why can't we discuss it? Just think about how much publicity we can get for your sites by talking about these things here where the truth can come out and letting folks know what you know? Lol!

Read the sanctions.  I didn't find anything in there that said anyone wasn't allowed to buy Iranian Rial.
Just sayin'.

Firefighter1249 wrote:Read the sanctions.  I didn't find anything in there that said anyone wasn't allowed to buy Iranian Rial.
Just sayin'.

Actually there is a web of multiple pieces of legislation, executive orders, UN resolutions, and Federal regulations you have to wade through. As such crap goes it's never in black and white, but in part this section

Effective November 10, 2008, the authorization for “U-turn” transfers involving Iran was revoked. As of that date, U.S. depository institutions are no longer authorized to process such transfers, thereby precluding transfers designed to dollarize transactions through the U.S. financial system for the direct or indirect benefit of Iranian banks or other persons in Iran or the Government of Iran.

You have to read them all, but if financial institutions and registered dealers are prohibited from conducting transactions with Iranian banks or government, either directly or indirectly, then how can Rial be legally brought into this country? Common sense says it can't.

Also this little tidbit from a UST fact sheet:

FINANCIAL DEALINGS WITH IRAN - New investments by U.S. persons, including
commitments of funds or other assets, loans or any other extensions of credit,
in Iran or in property (including entities) owned or controlled by the
Government of Iran are prohibited.

Consider also this:

Criminal penalties for violations of the Iranian Transactions Regulations may
result in a fine up to $1,000,000, and natural persons may be imprisoned for up
to 20 years. Civil penalties, which are not to exceed the greater of $250,000 or
an amount that is twice the amount of the transaction that is the basis of the
violation with respect to which the penalty is imposed may also be imposed
administratively.

That's one set of dice I'm not even gonna look at let alone pick up and roll.

As a matter of fact, I have had a few people ask me about the Rial,and I had mentioned to them that Iran continued to be under sanctions from the U.S.,and that it was NOT a good idea to purchase the currency, as it was illegal to do so-It wouldn't be their best bet at this time-

Illegal or not why would anyone want to buy that even more worthless paper?

It seems that in the last few years the gurus have people scrambling to buy hyper inflated currencies but realistically why? ALL of those currencies, Rial, "ZIM", Dong and even the Iraqi Dinar are simply suffering from hyperinflation and have only three options, 1- redenomination/LOP/delete zeros when and if things improve for them, 2- just stay as they are and live with the inflated currency just as several other countries with inflated currencies have chosen to do or 3- if their economy is still bad (such as Iran is facing) they may have to endure even worse before settling for one of the other two options.


What they CAN NOT do is exactly what gurus have duped people into believing is possible and that's to simply declare their money to be worth substantially more thereby making people holding it wealthy, economics simply doesn't work that way!


There is nothing new about hyperinflated currencies, it has occurred may times in history, what has NOT EVER occurred is a "RV" because it's simply impossible! Live with the effects of the inflated currency or LOP and issue an all new more valuable currency are the only two options countries have had and it's the onlky thing that has been done in the past, the reason is that despite the guru lies it's the only two things they can do!

I was just mentioning what people had asked me about it, that's all- I KNOW it is worthless, just like the gurus that started this cluster....-

terbo56 wrote:I was just mentioning what people had asked me about it, that's all- I KNOW it is worthless, just like the gurus that started this cluster....-

Yes I knew what you meant and my comment wasn't aimed at you or anyone in particular it was just about the topic in general.