He directed anyone who has purchased Iraqi dinars to contact the U.S. Commodity Futures Trading Commission to file a complaint or issue a tip at 1-866-366-2382.
The dinar is not traded on any legitimate foreign exchange and is worth a fraction of a dollar.
[Iraq’s Dinar Has Yet To Be Pegged To Their GDP/GNP For World Trade.]
A federal grand jury indicted three men from the Toledo, Ohio, area for their roles in the operation of a $23 million fraud scheme involving the sale of Iraqi dinar currency and two nonexistent hedge funds.
Investors lost about $23.8 million from dinar sales, according to the indictment.
So explain how fraud is correlated to Executive Order 13303 & Iraq’s Coalition Provisional Authority Order 39. Both Laws were originated in 2003-4 by The United States & Iraq authorities and promoted to allow and encourage Americans to own the IQD in support of the war efforts and to build wealth when Iraq got back on their feet.
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Back in 2004, President George W. Bush put a law into effect allowing anyone to invest in the Iraqi currency, known as Dinars. When the US went to war with Iraq, the Iraqi Dinar, their currency was taken off the World Monetary Exchange until their sovereignty would be given back to the Iraqi’s.
What is it that allows American citizens to invest in Iraq?
Presidential Order 13303: Allows US Citizens to invest in the new Iraq. Under E.O. 13303 COUPLED WITH The Coalition Provisional Authority Order 39, a US Citizen has the same rights to investments as an Iraqi citizen.
CPA 39: Foreign Investment Also Known As The Bremer Order.
The order on foreign investment in Iraq includes five elements: (1) Privatization of state-owned enterprises; (2) 100 percent foreign ownership of businesses in all sectors except oil and mineral extraction, banks, and insurance companies (the latter two are addressed in a separate order); (3) “national treatment” of foreign firms; (4) unrestricted, tax-flee remittance of all funds associated with the investment, including, but not limited to, profits; and (5) forty-year ownership licenses which have the option of being renewed.
The U.S. Government is the Largest Holder of Iraqi Dinar Outside of Iraq
The U.S. Treasury does not officially list the Iraqi dinar as part of the country’s forex reserves. Exactly how many dinars were traded is not mentioned, but it does make reference to “billions of U.S. dollars” traded to Iraq.
Experts speculate the U.S. government received nearly 4 trillion Iraqi dinars at an exchange rate of 4,000 dinar to 1 USD. If this is even close to true — and the UN allows Iraq to revalue their currency up to 1 USD: one Iraqi dinar — the U.S. government would stand to profit in trillions… as would anyone else who speculated on the dinar over the years. (1)
Remember Iraq does NOT have to pump its oil out of the ground to receive “present day” wealth for it. They can simply leave the oil in the ground and write promissory notes aka; ‘derivatives’ against the un-pumped asset. Like The U.S., they need only to crank up the digital fractional printing press which is irrespective of the physical ‘supply’ M0 of the IQD.
Remember The Bush Administrations Statement About “the war will pay for itself”? It came from Paul Wolfowitz.
THE WAR WILL PAY FOR ITSELF
“There is a lot of money to pay for this that doesn’t have to be US taxpayer money and it starts with the assets of the Iraqi people. We are talking about a country that can really finance its own reconstruction and relatively soon.”
Deputy Secretary of Defense
testifying before the defense subcommittee
of the House Appropriations Committee
March 27, 2003
Iraq announced that they removed 70% of the money supply.
During 2008 Oil Windfall To Iraq.
[In 2008] The central bank’s aggressive policies spends $1 billion to $1.5 billion every month in oil revenue to buy [physical] Iraqi dinars [“supply”] on the open market, said Mudher M. Salih Kasim, senior adviser to the bank. This is the main lever for controlling consumer prices [inflation], said Kasim…
By STEPHEN FARRELL and RICHARD A. OPPEL Jr. Published: June 21, 2008 Page 3
Remember, though the physical “supply” has been reduced ~ the derivative “circulation” has been increased by “fractional banking aka derivatives” which increases M2. M2 is not total supply of physical IQD.
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Jim Cramer’s Perspective On Iraq’s Dinar In 2009
The disarming Spiel from our most trusted politician of all time!
From June 2013
Iraq Ready For Prime Time?
United Nations Releases Iraq From All Sanctions ~ To Be Restored To Pre-1990 International Standards.
Apparently and even though the remaining $11 Billion Compensation is still under Chapter 7 Kuwait & Iraq Agreed that it will be paid and as such and ‘apparently’ the voracity of Chapter 7 is no longer there to restrict Iraq with the International Community.
IOWs, Iraq’s entire funds are now released, and will contribute to Iraq starting their economic, financial and political relations with the countries of the world without restrictions.
This has been an unusual approach to the remaining $11 Billion and how it will be paid to Kuwait w/o the voracity of Chapter 7, while still remaining to be written in Chapter 7. Hey, why not just take it out of there? I suppose its a “just in case scenario” but at the same time allowing Iraq to move on with an extra agreement as if under Chapter 6. Who knows?
Iraqi Foreign Minister Hoshyar Zebari, on Friday, reduced the importance of the Kuwaiti statements about keeping the file of compensation under Chapter VII, saying that the “Agreed.”
The Kuwaiti Information Minister Salman Al-Hamoud Al-Sabah, that the file of compensation owed by Iraq of Kuwait is still under Chapter VII, which amounts to about $ 11 billion .
Zebari said in a statement to Al-Hurra television, seen by “Twilight News” that “this paragraph ($11 billion payment) shall continue to exist but the fact there is an agreement on the payment mechanism between us and the United Nations and the Kuwaitis, and these funds to be applied.”
“And we do not have any problem. Agreed this is a subject and not controversial. Thread infinite.”
Zebari added, “I’d say the door to emphasize that Iraq went out completely and practically from the provisions of Chapter VII. This is in our hands, if we can pay this money today this paragraph will be a thing of the past”.
The UN Security Council has voted unanimously Thursday to Resolution No. 2107, which comes out of Iraq in part from the provisions of Chapter VII of the Charter of the United Nations and an end to the mission of the Special Coordinator of the United Nations responsible for my Kuwaiti missing persons and property.
And the transfer of the Security Council under resolution My Kuwaiti missing persons and property under Chapter VI to the work of the United Nations Mission to help Iraq (UNAMI) and keep them under theumbrella of the UN Security Council review.
He urged Iraq to continue his efforts in the search for missing Kuwaiti property, including the National Archives through the Joint Ministerial Commission between the two sides.
Relates to Chapter VII of the Charter of the United Nations cases of threats to peace and acts of aggression, which the Security Council can take non-military measures or the use of force for the maintenance of peace and security in the event of failure of the parties to the conflict to resolve their differences.
Relations Iraq – Kuwait marked improvement, especially in the recent period where the two sides exchanged visits at the highest levels, and agreed to resolve the outstanding problems, which notably border demarcation and navigation and missing.
And entered Iraq under Chapter VII in 1990 while move the former Iraqi regime troops for the invasion of Kuwait, prompting the Security Council to pass a resolution to use force to eject Iraqi forces in a military operation with the participation of coalition forces broad international, led by the United States knew a storm desert in the January 27 general 1991.
Since then, Iraq has become under the weight of economic sanctions ended only after the fall of the former regime in 2003, when Iraq began to slowly regain its relations with neighboring countries.
Yesterday The United Nation’s Security Council Made This Very Important Statement!
The United Nation’s Council would welcome in the draft resolution’s preambular part aka; [PREPARATORY STATEMENT] both Iraq and Kuwait’s efforts to advance regional stability, and “all the positive steps that have been taken by the Government of Iraq to fulfill resolution 833 of 1993″ related to the border between the two neighbouring countries.
THE MOST TANGIBLE WRITTEN STATEMENT THAT THE IMPORTANCE OF THE IQD TO BE RESTORED TO PRE 1990 INTERNATIONAL STANDING, TO DATE, HAS BEEN MADE BY THE UNITED NATION’S SECURITY COUNCIL ON JUNE 26, 2013.
The United Nation’s Security Council would recognize that the situation existing now in Iraq is “significantly different” from when the Saddam regime invaded Kuwait in August 1990, and the “importance of Iraq achieving international standing EQUAL” to that which it held prior to that date. Then The IQD Was $3.22 to $1 USD.
In their attempt to discredit the Dinars ~ they state that The IQDs are sold on misleading hype.
A) They state;
Many dinar dealers refer to the value of the Iraqi dinar prior to the 1990 Kuwaiti invasion (1 dinar = $3+ US Dollars) as evidence that the potential for the dinar is theoretically unlimited.
The United Nations Security Council Just Said The Exact Same Thing Above!!
B) They state;
They don’t mention that the pre-1990 dinar has been demonetized (worthless) and that its value was arbitrarily set by an autocratic regime led by Saddam Hussein.
This is an incoherent ad hoc statement towards Pre 1990 International Standing. The Dinar became worthless due to war , due to being attacked by The U.S. Nothing else in the financial world can change the fact that Pre 1990 IQD was $3.22 PERIOD!
C) They state;
Following the embargo, the ability for the Iraqi government to manage its currency’s value collapsed and it spent the next 10 years at 2,000 – 3, 500 dinars to the U.S. Dollar.
Again another unlink-able incoherent ad hoc statement towards Pre 1990 International Standing. The Dinar became worthless due to war , due to being attacked by The U.S. Nothing else in the financial world can change the fact that Pre 1990 IQD was $3.22 to $1 USD PERIOD!
These [ Dump Sites/ Hit & Run Sites ] are unbelievably incoherent! Especially, when they try to discredit common knowledge about Iraq’s Return to Pre-1990 Dinars as Hype! Nothing could be a truer statement by a dealer than to state ‘EQUAL’ to Pre-1990 and when supported by The United Nation’s Security Council’s statement that this is the goal when then affirmed again within the “draft resolution’s preambular part”.
Tell the Anti-Dinar Scam Propagandists to think first.
Timing and upon what for IQD release? Stay Tuned!
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