Iraq Boosts Gold Reserves

By John Lee.

Iraq made its first major move in years to boost its gold reserves, joining central banks from emerging market economies such as Brazil and Russia in diversifying its foreign reserves.

According to a report from the Lebanese Daily Star, central bank purchases have been one of the biggest drivers of gold's rally since 2010 - a year which saw central banks turning net buyers of the precious metal for the first time in two decades amid growing doubts about the stability of the dollar as the world's top reserve currency.

Over the course of three months between August and October this year, Iraq's gold holdings quadrupled to 31.07 tonnes, the International Monetary Fund's monthly statistics report showed on Thursday.

(Source: Lebanese Daily Star)

59 Responses to Iraq Boosts Gold Reserves

  1. 2collectg 24th December 2012 at 22:54 #

    just a matter of time the IQD currency will be worth the WAIT! a wise man once said EITHER YOU HAVE PATIENCE OR YOU BECOME THE PATIENT!

  2. John Richardson 24th December 2012 at 23:16 #

    2collectg - "just a matter of time the IQD currency will be worth the WAIT!"

    LOL. 31tons of gold = 31 million metric grams, which at $53 per gram gold price = barely $1.5bn, which doesn't even back 2% of Iraq's money supply today, let alone 0.002% of a $72,000bn "RV".

    2collectg - "a wise man once said EITHER YOU HAVE PATIENCE OR YOU BECOME THE PATIENT!"

    An even wiser man once said "If you're going to invest in something, get your maths right as being able to add up trumps throwing around meaningless "wise old man" platitudes..."

  3. Daddy Warbux 25th December 2012 at 02:38 #

    Still, That quadrupled value is only 1/4 of what they pumped out of the ground for November.... I'm optimistic but I remain unimpressed.

  4. 2COLLECTG 25th December 2012 at 16:26 #

    hey msths expert it takes 2205lbs to make a tonne! get your maths right!!!! and gold is selling for 1700 a ounce like i said get your maths right!!!

  5. nemesis 25th December 2012 at 17:35 #

    2COLLECTG pumping? LoL

  6. John Richardson 25th December 2012 at 19:06 #

    2COLLECTG - "hey msths expert it takes 2205lbs to make a tonne! get your maths right!!!!"

    I have. Stop embarrassing yourself with your own lack of knowledge. There are 1 million grammes per tonne. And gold is on average currently $53 per gramme). 31 million grammes x $53 = $1.6bn.

    And if you want it in old "imperial", then yes, there are indeed 2205lbs to a tonne. And there are 14.583 troy oz (which is what gold is actually measured in) per lb which means there are 32156.25 troy oz per tonne. Multiply by 31.07 tonnes - and you get 999,094 troy oz. With a gold price of $1,662 per troy oz price of gold, that works out to be - guess what - exactly the same $1.6bn...

    It's you that need an education on basic maths if you believe 31 tonnes of gold is worth more than that.

    In fact, here's a nice easy site just for you:-

    Click on "Gold", "USD" and "kg" at the top, and today's price says $53,119 per kg. Multiply by 31,000kg (31 tonnes) = guess what - that's right - $1.6bn again...

  7. 2COLLECTG 27th December 2012 at 11:01 #

    if you can buy a ounce of gold for 53.00 then you should be on the bullion site! gold is selling for 1660 today! 16oz equals 1LB! 2205 LBS IS A TONNE! IRAQ HAS 31.7 TONNES OF GOLD so they`re getting ready to INCREASE THE VALUE OF THEIR CURRENCY! BACKING IT WITH THE RESERVE OF FOREIGN CURRINCIES PLUS GOLD BULLION SO TO ALL THE NAYSAYERS EITHER YOU HAVE PATIENCE OR YOU BECOME THE PATIENT!!!

  8. 2COLLECTG 27th December 2012 at 11:04 #


  9. John Richardson 27th December 2012 at 12:29 #

    2COLLECTG - "if you can buy a ounce of gold for 53.00"

    What part of the word "gramme" that I wrote do you not understand 2collect? Do you not understand metric measurements at all? Do you also believe that a metre is the same length as a mile?

    Gold is currently $53 per gram (metric) / $1,662 per oz (imperial). It's the same thing. There are 31.1 metric grammes per troy oz. I simply do not understand how you can be so dense as to confuse the two whilst amusingly claiming to be a "jeweler".

    I never said "Gold was $53 per oz"). I said - and I quote : "And gold is on average currently $53 per gramme" and <i."With a gold price of $1,662 per troy oz""

    Your reading comprehension is as utterly appalling as your maths skills...

  10. Stew 28th December 2012 at 04:28 #

    It takes a “special” person to get excited and think that less than $2 billion in gold is going to somehow RV 72 Trillion dinar to $1 or so in value.
    $2 billion spread out over 72 Trillion dinar. That means this gold backs each dinar for a value of $.000028
    Hilarious. Yeah, the RV is right around the corner.
    The dinar crowd is a “special” crowd.

  11. 4aprofit 18th January 2013 at 14:24 #

    The key here is not so much what is being shown, depicted or made public...but what is'nt revealed..or yet!...For them to be even talking about or considering anything with Gold, when many have said there was nothing to their economy, and/or their currency...when in all actuality, it is starting to look better than many of the already developed economies, at least as per their emergence, and where they are going...while still, there are those that have had long term gains by their holdings in Iraq...Already!....

  12. John Richardson 18th January 2013 at 18:39 #

    4aprofit - "The key here is not so much what is being shown, depicted or made public…but what is’nt revealed..or yet!…"

    Paranoid conspiracy nonsense. Every time you're given the facts, you shovel out the same desperate hysterical attempted cop-out / diversion tactic of "It's all a lie dude. The truth must automatically be something else if it's not something I want to hear!" which is nothing more than confirmation bias (aka "hearing only what you want to hear" and ignoring "unwelcome truths" you don't like to read).

    The amount of gold reserves in the world aren't exactly a secret. If you want a sense of perspective of “31 tonnes of gold” : the USA has 8,133 tonnes of gold (262x more than Iraq, ie, $432bn worth), and the EU has 10,787 tonnes (347x more than Iraq, ie, $573bn worth). In fact, if you took all the gold reserves on Earth (over 35,000 tonnes worth, ie, $1.86 trillion) – it would require 39x planet Earth’s worth of gold to back the absurd “100,000% profit RV” nonsense the chronically dishonest pumpers and their mindless puppets keeps pumping. And that’s just for Iraq – ignoring the other 189 countries on Earth.

    That’s how ludicrous the “RV” fantasy is to anyone with half a brain, a working calculator and an ounce of common sense...

  13. 4aprofit 18th January 2013 at 19:32 #

    Hang onto your panties Johhny it is'nt over just yet!...But hopefully soon we can see who is right or wrong?...But until then, why fret it?...And why cry and worry over this so much?...You could just go back to your million dollar job..if you have one....instead of wasting all of this time on what you dont believe in...and let all of us that believe in Iraq and our investments, enjoy more than just the long-term-gains that some have already had!

  14. John Richardson 18th January 2013 at 20:58 #

    You have a way over-inflated sense of self-importance 4aprofit. I am not "fretting", "crying" or "worrying" about you or anything to do with you and never have done. I posted some truthful facts and for some reason that has driven you berserk, and as usual all you have in response is the same silly pumper insults ("why worry lol") that went of fashion years ago to try and hide the fact you are incapable of holding an intelligent two-way fact-based debate on any level... That's why - as usual - you didn't even attempt to address any point made at all - preferring instead your failed trademark "appeal to ridicule" silly trolling (ie, "if you reply to me you must be 'worrying' about me") - which apart from being an empty straw-man, is also a sign of you running scared every time you get taken out of your debating comfort zone and trying to cover it up out of pride...

    At the end of the day, this is a discussion forum - for discussing - not 4aprofits little Dictat soap-box. If you don't like my posts, then don't read them. I'm not going to "shut up and go away" though no matter how many temper-tantrum oubursts you churn out whenever your "dream" gets challenged with the plain, simple and verifiable truth and without pumper censorship as seen on other boards for you to hide behind...

  15. Barry 18th January 2013 at 21:21 #

    Good post John. As usual all some people have left is the normal low-level emotional frothing & juvenile personal attacks. As for gold reserves, even tiny Denmark has double that (66t), tiny Sweden quadruple (125t), whilst Thailand (152t) & Libya (148t) have 5x more EACH, Austria & Spain have 9x more (280t) each, Iran has 16x more (500t), Japan has 24.5x more (765t), Italy (2,452t) & France (2,435t) have 79x more - EACH. Even many private ETF's (Exchange Traded Funds) have more, eg, the "Julius Baer Physical Gold Fund" has 93t of gold, "COMEX Gold Trust" has 137t and the largest "SPDR Gold Shares" has 1,239t:-

    It's hilarious seeing people who've only just "heard" on "Dinar intel conference calls" or "read" on "Dinar intel sites" a perfectly normal fact everyone else has known for years, be whipped up into an abnormal emotional frenzy by pumpers who try and twist it into being "unique" (some people act like Iraq is the only country on Earth with Gold or oil, LOL). Some people need to seriously get a grip, stop hanging around Dinar-scam obsessed sites and pumper "personalities" who whip their followers emotions up & down no different to any "lamestream" tacky-tabloid and start studying the financial world in general to get a far more serious (and healthier) sense of perspective of reality.

    Facts and a sense of perspective like these:-

    1. Iraq's $1.5bn worth of gold (31t) makes up just 0.0888% of the global 34,913t of Gold bullion used as currency reserves worldwide.

    2. Iraq's $1.5bn worth of gold (31t) barely covers Iraq's annual $100bn Government spending for just 5.5 days.

    3. Iraq's $1.5bn worth of gold (31t) makes up just 0.001875% of the annual $80,000bn ($80tn) global economy and just 1.09% of Iraq's annual $138bn GDP economy (including oil sales).

    4. Iraq's $1.5bn worth of gold (31t) makes up just 2% of today's Dinar and an absurd 0.002% of a ludicrous "RV'd" Dinar.

    But we've long passed the point where honest facts mean anything to cult-like "RV" addicts driven solely by artificial manufactured hype to the point of developing a self-blinding "anticipation addiction" and turning the Dinar in general into "Tulip Mania II". In a way some people here are actually the perfect RV scam victims - big on "faith" plus an almost autistic-like compulsive obsession with any news with the word "Iraq" in it (to be be twisted to mean "proof of the RV!"), but can't add up even to junior grade level and understand very little about currencies in general 😉

    "Why worry lol". You are John - you're TERRIFIED for quoting statistics. Every time you post a true fact you must be CRYING! I know because "the voices" told me 🙂

  16. 4aprofit 18th January 2013 at 21:48 #

    When Iraq's wealth is un-veiled'...and not from the typical news...your mouth's will be you stand in amazement!...This is not only Biblical, as per where they will end up monetarily, but prophetic' truly is hard for SOME to understand!

  17. kev 19th January 2013 at 10:41 #

    "When Iraq’s wealth is un-veiled’…and not from the typical news…your mouth’s will be open…as you stand in amazement!…This is not only Biblical, as per where they will end up monetarily, but prophetic’ truly is hard for SOME to understand!…lol..", 4aprofit

    ROFL.. The only thing "biblical" here is the sheer scale of some scam victim's raw gullibility...

    4aprofit : " truly is hard for SOME to understand!…lol.."

    Indeed it is, but not quite in the way you mean 🙂

  18. 4aprofit 19th January 2013 at 17:44 #

    Either you are right...or I am right...but until it is proven either way...I'm o.k. with my long-term gains...whether it's backed by pot-ash or I have'nt lost anything yet anyway..but..after it's all said and done..only then will we see who is the liar!

  19. kev 20th January 2013 at 10:04 #

    "I’m o.k. with my long-term gains", 4aprofit

    Just out of curiosity, 4aprofit, how many Dinar have you bought and at what rate, in what year, and at what spread did you buy them?

  20. 4aprofit 20th January 2013 at 16:32 #

    If denying ones word, what do you need, my bank acct. and my entire life's is common knowledge that the dinar has risen form the 2003-2004 era per long term, up until now...maybe you live in the Middle-East, I don't know, or have you ever even been there?...And the dinar was'nt the only opportunity for some since the new currency and govt. was initiated...The problem here, is that a few folks, want to descredit anyone who even owns this currency, or has invested in anything in Iraq, when for the most part, there have been some gains, whether smaller or larger, unless one bought today and sold tomorrow with a loss due to spread fees...Folks reading this...just remember, there are those who wish to deter you from tapping into ANYTHING Monetarily/Financially...that is coming out of Iraq and/or the entire Middle it's some of those folks job, to do this, at least in my opinion...if this were not so, why do they spend countless hours debating what CAN"T happen, when this thing HAS'NT finalized yet..for better or worse as per the FINALITY of it all, or as per the FINAL BELL being rung as per the end of the ride!...Until then, you naysayers can just whine, cry and write your heart out..cause it aint over till it's over!...Nuff Said!

  21. kev 20th January 2013 at 16:44 #

    Why are you afraid of such a simple question 4ap? Several times you've boasted how "much" money you've made, and yet you seem terrified whenever people ask simple questions like "OK, how much?" which if you were telling the truth, you would openly welcome such an opportunity to prove the "naysayers" wrong...

    I'm not asking to see any receipts, "bank accounts, life history" or for you to post any personal details, I'm simply asking you roughly when you bought your Dinar : Feb 2010? Sep 2009? June 2008? April 2007? March 2006? Dec 2005? March 2004? When did you buy them? It's not a particularly difficult, unusual or unreasonable question (especially given you keep bringing the subject up).

  22. Stew 20th January 2013 at 19:53 #

    Profit, that’s a bunch of crap. No one here has said anything bad about investing in Iraq in legitimate ways. Opening a business, investing in the stock market, things like that. In fact, no one here even cares one bit if you and others want to own Iraqi dinar and think, just like any other country, you might make 10,20, 30%. It might even go nuts and make 100% over a long term. What we have a problem with is the spreading of this notion that the dinar will increase in value 100,000% in a short term. Anyone buying dinar believing that has been scammed. The chance of that big RV is absolute zero.
    Answer this question for me. When Iraq redenominates the dinar and gives you 1 new dinar for every 1000 dinar you currently have. So people who have a million dinar now worth $850, will then have 1000 dinar worth $850. Those new dinar will be worth 85 cents each. Will you be on here and other web sites telling people to hold onto those dinar because Iraq will have to RV those dinar 100,000% and make each dinar worth $850?

  23. 4aprofit 20th January 2013 at 21:41 #

    Wow, trying to put words in my mouth that I never have even some think they know exactly how things will turn out huh?...


    All dinar held outside the borders can be used by countries, (even notes you and I would redeem), as per a country's reserve holding, no different than holding physical cash, gold or oil....due to what the dinar is backed different than why the US Dollar used to dominate all others, due to the gold standard alone, "that we once had", Iraq is now doing what the US did initially, (backing themselves with oil, gold and other assets)...and this depicts a strong dinar, whenever they are ready to go live to the world with it, who knows, but as per driving their economy for the future, we know that the people will want something as strong or stronger than the dollar before they will wish to quit using it..The MOP/Ministry of Planning in Iraq, and I believe it was the IMF, have had documented articles quoting rates that would be sustainable from .86 cents to 1.13...per dinar...some other studies have concluded above the dollar and below the 1.17 to 1.24 I believe...The now "unclassified" document called the: U.S. State Dept.'s "Iraqi Project", as I believe it is called, which I think is a 120 page document, whereby on page 14, it talks about the currency of Iraq, and whereby they want to return it to it's previous value from what it was in the 70's at over, anyway, we know we are looking at a currency that has been predominently from 2.00+ to 4.86 for the past 80+ years or so except for the time during the wars...but all monetary entities have said in one way or another, that it will come back, but what we dont know is WHEN?...Hopefully soon, but all of this is why people take the risk of holding dinars!...And why did the U.S. Govt., U.S. Treasury, U.S. Federal Reserve, U.S. Banks & Iraq's Central Bank, even allow anyone outside the U.S. to hold dinars, unless it were to boost foreign countries reserves by holding something of a VALUE?...PERIOD!...

  24. 4aprofit 20th January 2013 at 21:43 #

    And here's another morsel to chew on:

    There is much that does not compute or make sense, like:

    Why did we go into Iraq originally?...Is the oil actually a better grade than all others and at typically shallower depths?...Why are countries and their companies moving into Iraq for oil, when many of them have their own oil, and some of these moving into Iraq for the oil dont even have environmnetal restrictions in some of their countries?...Is this the main prize, or is it all the other minerals and resources that they are now finding in abundance?

    What was really spent by the U.S. in war efforts?...Some state that it is closer to 3 trillion now?..Who really knows?

    Why did China & Russia end up with the largest Oil Contracts, as per what we have understood from the news and oil contracts..or is this true either, and why?...Was'nt it the U.S. that lost appx. 4500 soldiers there, and not China & Russia?

    Is the U.S. really holding trillions of the Iraqi currency, and if not, why would'nt they be?...And if true, why is the U.S. Dollar somewhat pegged or even connected to the Iraqi Dinar & vice versa?...And why would the U.S. associate with a currency that many call a scam, and allow banks to even deal in it, not to mention dealers of currencies dealing in it?...Is this like the tell-dont-tell game?..No one in any oficail capacity has ever stepped up to the plate and called this a scam, (even though some people have done illegal exploits whereby the dinar was involved), but it goes on and on as per the currency being allowed to be bought, so why?

    Why was the U.S. Embassy that was put in iraq, the largest of any country's..that has ever been built, appx. 10 times larger than the UN Complex, if so, then why?..Are we leaving there soon with all that has been invested and billions still being sent regularly, at least as per the news reports, wealth follows wealth and not poverty, and wherever there is smoke there is usally fire, or is this all just all a facade?

    Does the U.S. actually OWN Iraq, at least as per what some Oil Experts and other Financial people have mentioned, and why would we be vested in the country of Iraq, if we were not going to recieve something back in return, why is money still flowing that way from U.S. coffers...while we are supposed to be broke?...Is there really a deficit, even anywhere, or is this whole entire scheme of things, nothing but another cycle that the economy or economies of the world will go through to emerge at the last minute, as some experts say, as per the "Global-Resets" of currencies occurring, like all the Internationl Moneatry Entites for the most part, have been mentioning now for appx. 3 years...and if so, what are these resets for and why?

    There are hundreds if not thousands of news articles, blogs, videos and commentaries, as well as expert factual information...that all is seemingly covered up, at least as per the typical Joe understanding this, and you say why?..Could it be that if everyone was in something it simply would'nt work?...Would or could it stand to reason, that this is a well ordained and orchestrated event, controlled and contrived by those that wish for monies to actually set things in the right direction after mopping up what they want while things crashed?

    The economy must return or in some capacity for those that caused the fall, to actually have a return on what they have acquired...let's put it this way...If I bought 100,000 new automobiles that were valued at $40,000.00 each, but paid only $5000.00 each, would I not need an economy that could support buying what I have acquired, or what good would any of these autos or any other assets acquired, be to anyone?...

    Is it all just a shell game, is money just predominently electronics anyway..there is'nt enough gold in the world for probably one major country to use, as per the daily needs of all of it's people as per trading for all commerce that takes place, I have seen where all of the gold that exists in the entire world, will fit under the appx. 60x60 square footings of the Eifel Tower, maybe several pallets high, also, silver is used up in industry before reaching the general populance in most instances, but if all were to try to buy up all of the gold and silver today, it would be wiped out almost immeadiately, no different than if everyone wanted dinars goes on and on and on..but maybe some can catch the drift here...

    If any or all of this is wrong, so be it, but I have'nt had anyone give an alternative yet, as per what else there could be coming, that will save the U.S. economy, or even the World Economy, unless it is something to the magnitude of a scenario like the Post World War II Marshall Plan, if there is an alternative plan, please, someone, mention it!...For what it's worth...

  25. 4aprofit 20th January 2013 at 22:30 #

    CHECK THIS OUT!..Planeloads of U.S. Dollars Being Shipped to Iraq & Still Happening!


    CNBC VIDEO: DATED: 01/10/2012

  26. 4aprofit 20th January 2013 at 22:31 #

    CHECK THIS OUT AS WELL................

    Funds for SIGIR, agency charged with oversight of Iraq reconstruction, set to expire in March


    Another thing...these are figures a friend sent me regarding some monetary findings on Iraq more presently...Very Interesting.....

    280 billion in fed reserve in NY for DFI
    60 billion in CBI
    We buy billions every month in oil so our dollars go there

    I knew there was a lot of money changing hands and/or moving around in regards to Iraq...but it is truly amazing...I just wonder what all we dont know about, that is going on right now in Iraq?...The general populance here in America have no clue as to the wealth that country is sitting on...biblically speaking...just another morsel to chew on here though?...

  27. 4aprofit 20th January 2013 at 22:35 #

    Another, better link for the above: Funds for SIGIR, agency charged with oversight of Iraq reconstruction, set to expire in March

  28. kev 20th January 2013 at 22:48 #

    Cute attempt at a "spammed diversion tactic" 4aprofit, so let's try again asking very politely:-

    Roughly when you did you buy your Dinar 4aprofit? You don't have to say how many you bought, from whom, or even the exact day - just the nearest month / quarter and year will do just fine. Thanks.

  29. 4aprofit 20th January 2013 at 22:54 #

    Kev my boy, with your attitude....lets play a game...let's say I dont own any dinar, but you have 100 million of em'...and your trying to divert people away from this...due to a certain agenda''nt this the opposite of what you just pulled on
    P.S. Watch what Iraq does...and NOT what I do, or HAVE DONE!

  30. kev 20th January 2013 at 23:16 #

    4aprofit, so you're basically a proven liar then. In fact, if I remember, you did the same thing last year when three seperate people asked about your "long-term gains" you spent weeks boasting about, and you quickly turned nasty & paranoid and then ran off / started spamming the forum to try and hide the question the same way then... Speaks for itself without further comment. LOL.

  31. John Richardson 21st January 2013 at 00:14 #

    LOL. You simply won't get an honest answer out of him Kev, no matter how many times or how politely you ask. The reason is he knows full well the Dinar's historical data is publicly available for anyone to verify on the web (eg, and it's possible for anyone to check exactly how much (or rather how little) "profit" he's made in practise. Examples:-

    The rate in 2009 was about 1160:1 - same as today. Even 6 years ago (2007) it was 1230-1290:1. In mid-2005 back to 2004 the rate was around 1460:1.

    Even buying at a rate of 1460:1 in 2004 just after the NID notes came out (replacing the Saddam ones), and selling at 1165:1 today works to to barely 20% profit over 9 years - or an annual compound rate of return of just 2.4%. And that’s ignoring commission fees. Factor those in and the typical 10-15% of investment lost from day one, and the rate of return drops to just 1.2% per year (10% commission) down to 0.75% per year (15% commission - which is what, eg, Dinar Trade and others are typically charging, ie, $980 for 1m Dinar worth about $855), which is about 2-5x worse than simply sticking it in a risk-free low-interest high-street savings account, and about 1/5th-1/8th of what you can get on a decent 10-year fixed rate bond bought in 2003 and cashed in 2013. Overall, that's an utterly appalling profit for any Forex-class of "investment". Most serious Forex speculators make more in a week than many Dinar "investors" (ie, amateur speculators) have in a decade...

    Even if he bought "Saddam notes" at a rate of over 2400:1 back in the 90′s before even the Kosovo War when Bill Clinton was president (very few people owned these then) - and has since somehow managed to change them up to NID's directly without losing more in Saddam Dinar > $ > NID Dinar commission fees - that was almost 20 years ago, and doubling your money over 20 years is still a low annual rate of return of just 2.9% - no better than the high street savings accounts (and still excludes buying & selling commission fees - include that and it drops to nearer 2.5%) which is still far worse than risk-free +4% annual fixed-term bonds.

    The vast majority of Dinar holders have bought post 2007 at under 1300:1 rates have made no real profit at all once 10-15% commission fees are factored in, ie, at a rate of 1300:1, you'd have paid $884 for $769 worth of Dinar. That $769 would have "risen" to $855 (via 1300:1 to 1168:1 rate movement) leaving you still with a $29 loss, despite a rise in currency - because they lost a whopping 15% of their initial "investment" in ripoff commission fees almost 3x higher than most other currencies. At a rate of 1225:1, you'd have paid $938 for $816 worth which would have "risen" to $855 (via 1225:1 to 1168:1 rate movement) leaving you still with a $83 loss for same reason...

    This is the situation most Dinar speculators are in - most are still waiting to break even in absolute terms - and are far behind savings accounts in real terms as banknotes sitting in a drawer for years on end earn no compound interest. The above also doesn't include a further 5% loss in converting Dinar back to $. Include that and the annual rate of return is near zero even for those who bought at 1400:1 rates back in 2004 - almost a decade ago now!

    And this is the real reason why he and many other "investors" who boast about their "vast long-term gains" will never actually say when they bought them and at what rate - they know they will be outed as liars (or have their wildly exaggerated claims debunked with the truth) which is why their only response to being asked is usually 1. Feigned indignant "I'm SO above the need to give you that information", 2. A tirade of personal abuse, 3. Pretending to be a "victim" of "bulling" and calling for censorship. 4. Spamming off half a dozen cut & pasted posts from pumper forums trying to "hide" the question (as he's done above and did the last time too thinking if he spams enough people will not notice he's running scared of speaking the truth about his own "investment") or 5. Inventing some stupid conspiracy theories of how any one capable of doing high-school maths and points out the obvious annual rate of return being poor, must be a "dumper" who is "paid" to dissuade "investment" which makes absolutely no sense whatsoever since there is zero money in NOT advertising a advertiser / currency seller (unlike pumpers who openly advertise & link to Dinar sellers on their sites...)

    In short, not only will he not tell the truth, he'll respond with the same old "obfuscation trolling" because he knows his "profit" claims have already been outed several times over by over a dozen different people in other topics here as well.

  32. 4aprofit 21st January 2013 at 01:02 #

    Keep a cryin and a writin boys...when it's all over, is when we will see....and then, you wont have to worry over me!

  33. 4aprofit 21st January 2013 at 01:18 #

    And on another note boys, when it's all over...I may, just may, if I feel like it...wanna share with you guys, what you were misssing out on, and have spent a lot of wasted hours on, away from your million dollar day jobs, fretting over something like this, that you say is useles and worthless...but you know what...I bet you guys are loaded with dinars yourselves, or would'nt waste one second on here...hey, we might just compare portfolios one day...but, that's if I feel like fooling with a bunch of folks that did'nt believe in what I did...would'nt that be kinda stupid though on another they say "stupid is as stupid does"...but that's you guy's book...that's even wrong..oh well, different strokes for different

    P.S. Sweating it out over me, wow, go write me another chapter in your book, about "what cant happen with the dinar"..most of it I dont even read, but, I love it kinda makes me feel like, if there is this much opposition, there must be a prize someones hiding!

  34. John Richardson 21st January 2013 at 09:48 #

    Truth hurts, eh, 4aprofit? Too bad. We can all see how frightened you are to put your money where your mouth is. Literally.

  35. Barry 21st January 2013 at 11:15 #

    4aprofit - "hey, we might just compare portfolios one day"

    Let's do it now. No really, I insist. I'm both a Forex & precious metals trader. I've made roughly 390% profit over the past decade *on Gold alone* (bought at $345/oz now worth $1,685/oz), another 560% on silver (bought at $4.80/oz now worth $32/oz). Each year I make roughly 25% average profit trading various currency pairs (over a decade that works out to 700% equivalent compounded interest rate). I mean proper grown-up trading not stupid scams and shared delusions of grandeur on the back on economically illiterate, manufactured "confused excitement".

    I make more each WEEK on the Forex market that you have in 5 years stuffing $1k of worthless paper in your sock drawer and pretending it's "really" $1m that everyone else must be "too stupid to see" your "secret", and you think I'm "missing out" and want to "compare portfolios" with your $1k of overprinted currency sitting there? ROFL!!! 🙂 So don't take this the wrong way but I'm really not interested in your "investment advice", and you've already lost your ego-based "portfolio p*ssing contests" about 100x over. ROFL. 🙂

    In fact, you've made less profit than my daughter's "Junior Saver" and my elderly mother's "Silver Saver" savings accounts 🙂 That's why you run away in tears when asked simple questions like "when did you buy your Dinar"? No one is "jealous" of you now, nor will they be after Iraq's redenomination. It is fascinating that many amateur Dinar gamblers all desperately try and make others "jealous" of them as can be seen above in almost every post your write - "you will stand in amazement at my 'investment'", "you will be in awe of my "investment portfolio" and "wealth" (consisting of changing $1k of Dinar's back into $1k worth of Dollars, LOL) - or even funnier why the standard replies from same people is the widely observed yet completely nonsensical "I bet you secretly own Dinar" - which is just a further display of their own egoic desire to make others jealous of them. John hit it squarely on the head with his post debunking your "wealth gains", and your panicked emotional outburst lashing out with a tirade of variations of "I want to make you jealous of me" speaks volumes as to both the kind of attention seeker you are, and reaffirms that he hit a sore point with the truth - and you know it...

    Most of your posts here are nothing more than the same regurgitated "manufactured expectation" pumping that other advance-fee-fraud scam artists (of which the Dinar scam is a subset) churn out. The "glue" that holds it together is ultimately 1. Repeated manufactured reaffirmations of fabricated excitement ("OMG! It's HERE! THIS WEEKEND!!!", "BIBLICAL WEALTH IS IMMINENT!!!", etc) to keep people "hooked" out of blind greed, combined with 2. "secret intel" that "the little people are too stupid to understand - but YOU my friend are one of the CLEVER CHOSEN ONES!") which is further stroking the victim's ego and desire to make others jealous of his "secret". Ultimately, it's all ego - and that's exactly what conmen actively target in the first place.

    This website (Iraq-businessnews) is about serious tangible investments in Iraq (ie, real direct investing in Iraqi companies & ISX), not just buying $1k of notes, sticking them in a draw (where they go nowhere near Iraq's economy - you're not "investing" in Iraq at all) then trolling or calling people "retard" every time you lose an argument (as you have done on other topics on the "RV" scam)... It's obvious you still don't "get" this website, so I suggest you read this (especially the bold bit):- : It’s clear from the correspondence we receive that some people, who like to think of themselves as ‘investors’, genuinely believe that at the stroke of a pen they will make a 1,000-fold return on their purchase of dinars.. We hope that this information will be useful to the key decision-makers in Iraqi business, and to all who are interested in the development of the country; gamblers and people involved in get-rich-quick schemes/scams are not our target readership.

    This is a serious website for serious tangible investments in Iraq not a childish group delusion like "Dinar Daddy", "Dinar Alert", "Dinar Vets" or "Dinar Recaps" for scam victims who laughably think conmen are "secret agents". Quite simply, 4aprofit, you're on the wrong website if the "$1m for $1k RV" is all you can obsess about (and you ARE obsessed about it - last year you posted over 300 posts in a single month - not only more than anyone else - it was more than everyone else combined!) most of which were more of the same chronic attention seeking and crying out to make others "jealous" of you. If you want to be "left alone to your fantasy" where no-one will ever challenge your "dream" or call out your chronic dishonesty, you're quite simply on the wrong website. This is a serious investment forum that deals with facts of tangible investments, not a pumper comfort blanket for confused scam victims with a wildly over-inflated sense of entitlement.

  36. John Richardson 21st January 2013 at 13:34 #

    4aprofit - "And if true, why is the U.S. Dollar somewhat pegged or even connected to the Iraqi Dinar & vice versa?"

    The Dollar isn't "pegged to the Dinar" it's a floating currency like the Euro - the exact opposite is true, the Dinar is "pegged to the $" (like the Chinese Yuan is also pegged to the $). Dear God, you can't even get that simple thing the right way round... And it's pegged to the $ because of the petro-dollar (ie, Iraq sells oil in $) like many OPEC Gulf states do...

    4aprofit - "And why would the U.S. associate with a currency that many call a scam"

    As has been explained to you over and over but you seem so incredibly dense you can't grasp any of it - the existence of the Dinar currency isn't the scam - but the deliberate mis-selling of the Dinar on the back of a "turn $1k into $1m" get-rich-quick-scheme involving rip-off commission fees, fake "intel" that's nothing more than made-up sales speeches and persistent misrepresentation of a redenomination as an "RV" IS a scam. Insurance is legal even though insurance fraud happens. Stocks are legal even though insider trading isn't. Driving a car is legal even though DUI isn't. Get it now? Somehow I doubt even these simple analogies are dumbed down far enough...

    4aprofit - "No one in any oficail capacity has ever stepped up to the plate and called this a scam"

    The RV scam has been openly and officially debunked inside US courts who have openly and completely debunked misselling Iraq's planned redenomination as an "RV" with "99,000% profits" as fraud that breaches several parts of state commodities laws which US sellers of currency are licensed. Several official state warnings have also been given in the past. This too has been pointed out to you before - complete with sourced links - but due to your tendancy to ignore any "unwelcome truths" that debunk your fantasy, it's ultimately like showing a page of text to a man who screws his eyes up tight out of fear of being wrong...

    Here it is for you. AGAIN:-


    "23. Smiley did not tell the investors in the Dinar investment that he was relying on some other person to tell him when the investment paid off. (Affidavit of Johnny Bryand 9, Affidavid of Martin Gennuso 6)

    25. Smiley told his investors that the investment was going to pay off very soon, possibly within a few months.

    26. Smiley's assertions that the investment would pay off quickly were false

    29. Smiley guaranteed that an investment of $1,000 would return $1,000,000 (Smiley deposition, Exhibits 10,16)

    4.A. Fraud - Untrue statements of material fact. Smiley's misrepresentations and false statements violated the Idaho Securities Act. Smiley enticed investors into giving him money by making false assurance and promises, and by failing to advise them of material facts.

    False premise: The entire scheme as represented is based on the false premise that the Iraqi Dinar will appreciate outrageously against the US dollar, returning either 99,900% of 3,200% to investors, depending on which of Smiley's statements are used. (See discussion under False Guarantee)... Smiley could not make this guarantee because he did not and does not understand what could cause the Dinar to rise 3,200% or 99,900%. He testified that he does not know what event must occur to trigger the rise in value".

    Further, the investment as Smiley structured it fundamentally misunderstands the foreign currency market

    False promise of swift pay. Part of Smiley's sales pitch to his investors was that the investment was going to pay off very soon. In April 2005, Smiley told Johnny Bryant that "the investment would pay out in no more than 90 days. In 2006, said that the increase in value would happen by mid-March 2006. "Mr Smiley convinced me that the matter was urgent and that if I did not act immediately I could lose the opportunity."

    In August 2006, Smiley told Martin Gennuso "that the investment would pay off within a week"

    The premise is also false because, as Smiley represented to his investors, the Dinar is supposedly "Tied to 10 year oil contracts" (Smiley deposition, Exhibits 10, 16).

    4.A. Fraud - Untrue statement of material fact. Smiley's omissions of material fact violated the Idaho Commodity Code. As quoted above, Idaho Code 30-1506(b) makes it unlawful "To make any false report, enter any false record or make any untrue statement of material fact"

    The entire premise of the investment was false.

    4.B. Fraud - Omissions of material fact. Smiley misled his investors into giving him money by withholding facts which would have tended to cause them not to invest, in violation of Idaho Code 30-1506(1)(b). Again as discussed above, Smiley failed to disclose to prospective investors that the Dinar commodity was unlawful, that he was fundamentally ignorant about how his investment scheme would word...


    That's from a US court document prosecuting a pumper on several counts of fraud and openly explaining in great detail why the $1m for $1k > $1k worth of Dinar > $1k claim is blatantly false, and this is the second time it has been posted for you. If you do not "get it" this time, you're either trolling or you genuinely lack the intellectual capacity to grasp that the US court system has indeed called the "99,000% profit RV" the scam that it genuinely is.

  37. 4aprofit 21st January 2013 at 14:59 #

    Here we go again...from shoe stores to dinar sales, there will always be bad apples when doing business...take one or two that crooked someone and make the entire supply chain look bad...that is what some have been doing since day one, while banks next door to their own homes were probably selling dinars, even where these scammers
    As per the who, what, when, where and how the dinar and dollar plays out, as per being a the end, when this rides over, many of you will see what you cant see now...there are things that some KNOW, that WONT or CANT be talked about...but for those that think that they KNOW IT ALL...why are you riding this train...retarded if you ask surely must worry you to death..that something good may come of this...OR..WHY SOOOOO SERIOUS!...LOL...

  38. Stew 21st January 2013 at 20:14 #

    "4aprofit – “And if true, why is the U.S. Dollar somewhat pegged or even connected to the Iraqi Dinar & vice versa?”"

    LOl. Good catch John. I find it simply stunning that someone could be involved in the dinar investment for years ,and dole out advice to others, yet still show such absolute ignorance on the subject of currencies.
    Utterly and truly astounded.

  39. Shift 15th March 2013 at 00:45 #

    Guys. The iraq currency could go down or up. But they are becoming more developed year by year. In 2003 $1 US was worth 3500 dinar. Now it is worth 1200. Just a couple weeks ago, $1 Us was worth 1700 dinar. It is slowing growing. It might fall back down so I wouldn't advise spending money that you dont have to invest, and expecting a quick fortune, but I do believe that it is going back up in value. Realistically, if you buy $1000 worth of dinar and dinar goes from its value of 1200 per $1 to lets say 800 per $1, you gain %33 which is $333. The more money invested, the bigger the result(also much higher risk). Some day if dinar ever becomes worth 1 per $1 or even 5 per $1, we might all be rich. But as it sits, I dont see if going up that much that fast. But is it something worth investing in? well I purchased a little. If it doesnt go back up, I dont lose much.

  40. Shift 15th March 2013 at 01:01 #

    4aprofit. if news is not hiding the truth, how will we ever know how much wealth Iraq is sitting on? You wouldn't be able to watch it on the news, websites might not have the true answers and flying to Iraq to investigate doesn't seem realistic

  41. 4aprofit 15th March 2013 at 15:17 #

    IMO...They will always do the opposite of what they tell us, as per any benefit for us....forget all the logical theories and negative articles to a the trillions that are moving into Iraq that they dont tell us about....follow the money and you will do better than following the

  42. 4aprofit 15th March 2013 at 15:20 #

    On another note, many currencies are falsely propped up and many are falsely undervalued....but ALL currency is WORTHLESS in's what the one's in control of ANY of it DOES that matters...go is'nt hard if one thinks a little?

  43. 4aprofit 15th March 2013 at 15:22 #

    Iraq has the resources to back up and do anything it wants to do with it's's just when, and that is due to when they are allowed to do this...this is no different in comparison than why the U.S. Dollar is still standing, while some economists and monetary experts have stated that the U.S. Dollar in reality is only worth .03 cents as per some extensive studies.....but the U.S. Dollar sure goes further than that does'nt it...(sometimes for how long can the U.S. Dollar continue like this with "no real value" either?....who who is in control of that fiasco?....On another note, could something re-prop up the U.S. Dollar again?....It gets too deep...some use their brain and get the idea...some dont...some hold dinars and other currencies...some dont...get the hint?...It's just a game in reality...One big monetary shell

  44. 4aprofit 15th March 2013 at 15:24 #

    Many worry over what the U.S. has spent in it has been said to now be appx. 3 Trillion Dollars...but who really knows?...And many worry over how many U.S. dollars there are out there?....

    And why is the U.S. still spending and sending billions to Iraq while seemingly we are broke?...a U.N. Video recently depicted 3.6 Quadrillion U.S. dollars are out there, that's 3600 Trillion U.S. Dollars that are saturated around the World!...

    Then many worry over Iraq's 25-30 Trillion Dinars that are said to be out there, and do we even know where all of those are?..or do we even know how many were printed and if it even matters?....

    Does any of this even matter, when in all actuality, all money is for the most part nowadays, just electronics and pencil etchings on paper and ledgers anyway...If this were not so, then why are they printing so much of any of it?....And how is any of it still being used with falsely propped up or even devalued values?...And the show goes on, while no fiscal cliffs ever finalize as per total failure!....

    Does all of this not make some of us want to ask the question of who and what is really in control?...Would'nt it seem as though those that are in control must have a plan, as most of them dont even seem to be too worried?....

    Is any of this only about creating debt moreso than as to control everything through the debt?..Unbelievable!....


    There is a much bigger picture to it...than what all the smoke and mirrors and articles

    The Essence Of The Banking Industry...

  45. kev 15th March 2013 at 21:09 #

    4aprofit - "a U.N. Video recently depicted 3.6 Quadrillion U.S. dollars are out there, that’s 3600 Trillion U.S. Dollars that are saturated around the World!…"

    The "UN" video is a known proven Youtube fake, the "Swiss TV company" that was claimed to have made it doesn't even exist, and the accompanying document was photoshopped (badly at that). This was pointed out to you on another thread. Just because you're desperate / chronically gullible enough to want to believe it, won't make it so no matter how much you pump your nonsensical gibberish, here or elsewhere.

    The rest is just the same recycled delusional conspiracy garbage you mindlessly copy & paste on other threads over & over without understanding a word of it yourself. In fact the last time you posted a link as "proof" of your "secret knowledge", it turned out to be a complete delusional crackpot claiming "Obama has been in jail since December 2012!"

    You also claimed "there’s a guy who’s going to give everyone on Earth $10,000,000,000 each" which aside from failing to explain how or why, was also missing the obvious common sense fact that $10bn x 7bn people = 875,000x Global Economies worth of money supposedly backed by 100,000x planet Earth’s worth of resources...

    As my granny used to say "You can't fix stupid!" 🙂

  46. 4aprofit 15th March 2013 at 22:34 #

    So some claim to be the all knowing AUTHORITY on what is true and what is not huh?...How strange, the last time I heard someone say that they were the authority on the truth, it was a lie!...And then the ones that said that they were ignorant as per not knowing or claiming to know it all...were either telling the truth or were closer to the truth!...

    Ever listen to the mainstream media?...Most are potty trained since birth by it, and when something is not in line with what they are used to being told, they lash out and call every optional or opposing opinion or answer to an issue a lie or conspiracy!...

    On another note, the reason most of us are on here is due to the is it a scam?...Can you prove it is?...Can you prove it's not?...Many are saying one way or the other...some have even said both!..

    This is for some of the brilliant ones...How many dinars are out there?...How many US Dollars are out there?..Who knows?...Who will ever know?...Does it even matter?...Why are some up in arms over the issue whether there was 10 trillion or 100 quadrillion Dollars or Dinars?..Unless, perhaps it makes them mad to just simply NOT KNOW?...So why worry over something you dont know, and will never know?....

    IMO..It is good to look at everything, as per coming to our own conclusion, some of it we may agree on, some of it we may not...but to rule out what we dont know is simple retardation..unless there is an

  47. 4aprofit 15th March 2013 at 22:43 #

    Many worry over what the U.S. has spent in it has been said to now be appx. 3 Trillion Dollars...but who really knows?...And many worry over how many U.S. dollars there are out there?....

    And why is the U.S. still spending and sending billions to Iraq while seemingly we are broke?.....

    Does any of this even matter, when in all actuality, all money is for the most part nowadays, just electronics and pencil etchings on paper and ledgers anyway...If this were not so, then why are they printing so much of any of it?....And how is any of it still being used with falsely propped up or even devalued values?...And the show goes on, while no fiscal cliffs ever finalize as per total failure!....

    Does all of this not make some of us want to ask the question of who and what is really in control?...Would'nt it seem as though those that are in control must have a plan, as most of them dont even seem to be too worried?....

    Is any of this only about creating debt moreso than as to control everything through the debt?..With that said, who cares how many dollars or dinars are out's all about matter who says it!...Unbelievable!....


    There is a much bigger picture to it...than what all the smoke and mirrors and articles

    The Essence Of The Banking Industry...

  48. kev 16th March 2013 at 00:15 #

    4aprofit - "So some claim to be the all knowing AUTHORITY on what is true and what is not huh?…"

    A car just passed my window around 30mph. I don't know whether it will acceerate to 40mph, or slow down to 20mph to turn right. I can however state with absolute certainty that it will not do the physically impossible and accelerate to 30,000mph no matter how many "believers" arrogantly post that its engine is "undervalued" as a "rumor" on the web and everyone but the "chosen few" reading the "truther websites" must be "too stupid" to see it or stupidly declare "no-one can possibly know it can't go 30,000mph"...

    The global economy is worth $82,300bn. Iraq's share of that is $138bn (0.168% global share) - including higher production post war oil sales. Iraq isn't going to "bail the world out", there isn't "4 quadrillion of money" as claimed in your fake Youtube video and badly photoshopped "UN report", and people aren't going to be "given $10bn each" - which is 875,000x more money than the total sum of all goods and services sold on the planet each year. What do you think you'll spend the remaining 874,999x on if just 1/875000th of that money buys every product / service available to buy that's collectively made in every country on the planet in the entire global economy combined? What are they going to buy - Martian TV's?

    You don't need to claim to be an "AUTHORITY" to figure out what is basic common sense and junior school maths even my own 8 year old son can debunk! There can't be 800,000x more money than the size of everyone's economy because what would you spend it on (given the economy IS the purchase and sale of all goods). I know you struggle with common sense, but that's exactly where you're going wrong - just because YOU can't add up or see blatantly obvious logical fallacies / contradictions doesn't mean others can't. You're entitled to your beliefs 4aprofit, but "keep it real", or you'll just out yourself as a raging crackpot.

    There probably will be some realistic financial reformation (great!) in terms of debt relief / derivative annulment, etc, but posting stupid links about how there are +875,000 planet Earth's of money just lying about without causing any inflation is nothing more than ritual self-humiliation. It's like you genuinely cannot see what a fool you're making of yourself or have no sense of shame / embarrassment every time you post that. It's not even remotely possible let alone believable conspiracy stuff - it's the loony-toons "off the deep end" tinfoil-hat stupidity stuff that everyone outside of half a dozen conspiracy & scam websites looks down on with deep pity.

    4aprofit - "On another note, the reason most of us are on here is due to the dinar…so is it a scam?"

    You're obviously confusing Iraq Business News with other sites. This isn't "Dinar Daddy's Tidbits" or "Dinar Alert" - this is a site about tangible investments in Iraq's growing infrastructure, ie, direct investment in construction, communications, transportation, agriculture, etc (see the sections at the top of the page). Buying some fiat Dinar and hiding them in a drawer where they go nowhere near Iraq's economy and engaging in a shared group "faith" delusion that someone will give you $1m for $1k of notes is not "investing" - it's a scam that for some is fast turning into a serious obsessive-compulsive mental health issue...

    You've been posting here over a year and you still can't even figure out who the target market audience of this web-site is - this site is not about the Iraqi Dinar RV scam pumping - and that's why we will not "go away" because most of us are here for other grown-up real-life investments not confused, contradictory, childish baseless conspiracies and gushing "personality" ego-stroking that's "normal" on Dinar-scam specific forums you hang out at!

    4aprofit - "Many worry over what the U.S. has spent in Iraq…as it has been said to now be appx. 3 Trillion Dollars…"

    You keep asking the same stupid question every month, then ignore the answers, then ask the same stupid questions over again - like a troll or spam-bot. Most war money has actually been spent on Afghanistan. And they lopped back in 2002. Deal with it. Where was the "Vietnam war RV", the "Korea war RV", the "Kosovo war RV", the "Afghanistan war RV", etc? All you're doing is mindlessly parroting conspiracy excuses made by pumpers to try and "explain" to their gullible cult-like followers, why the "RV" hasn't happened yet (it's been a full decade after regime change now 2003-2013), or why "it must be true" (purely because "I want free money" by desperate amateur gamblers swapping manufactured fake "intel" and "feel-good news" they regularly pull out of their behinds every single week since 2004 with a 100% perfect record of failure or getting ANY prediction right whatsoever!...)

  49. 4aprofit 16th March 2013 at 06:02 #

    Wow, I'm sure some of you are so rich...that you have nothing to do but worry over what I'm doing...and staying on the dinar blogs warning myself and everyone else....since you think the dinar wont ever pan out to be anything...

    Hmmm...whenever I have something I think will work, or that I'm invested in, that I believe in, I watch it for the positives, and dont even have time for the negative b.s.....especially if it has'nt been proven to be a bad investment, or yet!...

    If it were something I cared nothing about, or if I'm not invested in, like some of you, then why are some of you so worried over something you hate so odd?...

    Blah, blah, blah...write all the books, theories, and b.s. you want...just let me get rich in my ignorance....this is to all you know it

  50. 4aprofit 16th March 2013 at 06:09 #

    There are too many of these, but this a sampling of a few things happening in Iraq that the mainstream media either blacks-out or odd?....

    Baghdad Gate

    Proposed Baghdad Skyscraper City

    Pictures from Najaf, Iraq


    Baghdad Pics:

    BASRA: 'the venice of the middle east'