The World Economy is Saved!!!

The World Economy is Saved!!!

By Dene McGriff

The world economy looks pretty bleak at the moment.  As I have written in the last three articles, there is way too much money and debt sloshing around in the world, too many entitlements, too much complaining and too little production.  Interest rates are increasing in Italy, Spain and even France.  The debt/death spiral has begun.  But what if I told you that we have a temporary fix?  Just remember, you heard it here first.  I’m not going to back this up with a bunch of links because no one is talking about it and no one is supposed to even know about it.  This is hush-hush.  But the “powers that be” are about to come upon trillions of new dollars. 

Let’s all say it together:  “Now wait a Wall Street Minute . . .  how could that be?”  Printing money and monetizing debt will only lead to ruinous hyperinflation.  What you see is what you get.  There is no unfound wealth left in the world and gold’s nearly at $2,000 per troy ounce.  Ah, grasshoppers, but what if there is and you just don’t know about it?  What if the government doesn’t want you to know about it?

Before I get to the meat of this, let me ask you a question:  Just how did Bill Clinton not only balance the budget but come up with surpluses in his last couple of years in office?  These surpluses were in terms of how the budget is figured … there weren’t real surpluses if you count unfunded liabilities.  Notwithstanding, for the first time in years, these surpluses showed up out of nowhere. 
Now, let me ask you:  Is that because President Clinton was such a frugal spender?

Was that because Congress all of the sudden got fiscal religion and stopped “ear marking” legislation for their districts?  Was that because they cut back on military spending?  The answer is “no” to the first two questions and a qualified “yes” on the last one, referring to military cutbacks.  But hidden in there is a dirty little secret.  The First Gulf War was paid for – not just by the Saudis but also by the Kuwaitis. 

During the war the value of the Kuwait Dinar collapsed to pennies, but the U.S. and a few speculators accumulated billions.  There is no way of knowing exactly how much but that is the main source for the Clinton surplus.  It took seven or eight years to see it, but it finally paid off.  The dinar went from pennies to about $3.60 to one dinar, making it one of the most valuable currencies in the world!

 When the second Gulf conflict began, Bush and Cheney assured us all that the war would pay for itself.  Bush set a plan in motion.  When the first Gulf war began, the Iraqi Dinar went from $3.22 to one dollar to a fraction of a cent to the dinar and has stayed there for the past two decades.  The Iraqi Dinar has been absolutely worthless for two decades.  It is currently at about 1280 dinars to the dollar.

There are many other currencies that are worth much more than their current value, the most notable is China’s, the Yuan Renmimbi; which is worth about 6.8 to the dollar.  We are convinced that China has a competitive advantage because it is held at a low value.  

Another example is the Vietnamese Dong which is worth about one hundred dollars per million Dong. Many believe the value is more like 20 Dong to the dollar.  That is quite a difference, i.e., 0.0001 vs. .20 – an astonishing differential.

Now, let’s shift gears back to the world monetary system for a moment before we come back to Iraq.  The International Monetary Fund (IMF) realizes that the system of fiat currency isn’t working because it is based on the good faith of the individual government printing the currency and governments have proved down through the ages they can’t be trusted.  Meanwhile, there is a huge hue and cry to return to the gold standard because it at least bases value on something tangible and keeps us honest.  The problem with the gold standard is that there isn’t enough to go around basing a world economy on it.  So, what to do? 

Over the past few years the IMF has been working on complex formulas which would determine the value of a country’s currency based on their resources and productive capacity.  This could mean agricultural, mineral or other natural resources or manufacturing output, intellectual resources (e.g. those who create technology) and so forth.  The idea is to come up with objective, quantifiable criteria.  They are currently in the process of revaluing 133 national currencies.  Some could go up and some could go down.  If this were done on a fair basis with every country, every country would get credit (value) for whatever they produced.

Now let me ask you:  What would happen if all of the sudden a currency was revalued?  What if the Chinese currency suddenly went up by thirty percent?  That would mean there is a lot more money in circulation.  We read about how the IMF and the central banks are trying to come up with a scheme to inject needed cash into the system.  Well this is it!- especially given the horrendous financial crisis now gripping the Euro and member nations whose currency exchange is based on the Euro.


Now let’s go back to little Iraq.  Little Iraq was the number three in oil resources, but remember, because of all of the wars and instability, only about one quarter of Iraq was explored.  Now they are up to about 40 percent and the amount of reserves continues to grow.  The strange thing is that Saudi Arabia’s oil reserves never seem to go down even though they have been pumping like crazy for the past 100 years.  When drilling for oil in Iraq, you are more likely to hit oil than water and it is sweet crude, the best in the world.  Some think it will end up being number one in the world.  It is already the first in natural gas.  Iraq is also rich in minerals and has historically been the bread basket of the Middle East.  It is the site of the original Garden of Eden with the Tigris and Euphrates rivers flowing through it year round.  After decades of being ravaged by war, it can once again become a major agricultural producer.

So what does this mean?  Based on IMF calculations, the value of the Iraqi Dinar should be around the $2+ range.  This is not unreasonable considering other Middle Eastern oil producing countries average about $3 to $1.  “So what!” you say.  It is estimated that the U.S. government is holding 3.5 trillion Iraqi Dinar (IQD).  If it were to revalue to the $3 level, that would be $10 trillion new found dollars (US)!  Imagine what fun our legislators would have with that?  Of course, they could pay down the national debt, but I suspect they would just rather spend it and look like heroes, balancing the budget and all.  We can also safely assume that France, Germany, England and even the PIIGS are sitting on IQD.  That would really help as well.

Many countries will see their currencies go up.  This has been alluded to in the news.  This would certainly help solve the immediate crisis.  It would inject much needed cash into the Euro-zone, America and the rest of the world.  But will it solve the world problems?  I seriously doubt it in the long run but it may support a nice little recovery for a few years.  That won’t deal with the problem of excess liquidity – too much money and in this case, even more of it sloshing around in the world.  Our leaders have shown that rather than let banks and countries fail and restructure, as in “work the debt out,” instead, they pour more good money after bad, only greasing the pockets of the bankers and the elites.  No wonder the “Occupy” movements are so upset!

As I said above, you won’t read this anywhere else.  You won’t find it in the newspapers, CNN, CNBC, Fox or Bloomberg.  This is a little secret the politicians will pull out to save the economy, save Obama and save their legislative posteriors.  People will think they are brilliant and re-elect them. Currencies led by Iraq, China, Vietnam and a few others will revalue, injecting trillions into the world economy.  This will put a temporary patch on Europe and even the US, only postponing the pain for a few more years.

Again, the revaluation of these currencies around the world is designed by the IMF (whose engagement is “international monetary policy”) to reflect tangible (minerals, resource assets) and intangible (intellectual, technological capital) worth of a nation’s currency – the more assets, resources and intellectual capital a nation possesses, the greater will be its currency’s worth…most nation states will find themselves in a strengthened currency (more valuable) – some, like Vietnam and Iraq will reap a bonanza.

This is just my little prediction.  The IMF, the central banks and the governments of the world will ride high for a few more years while the real trouble brews in the Holy Land!

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Copyright 2011 Dene McGriff

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  1. Comdr Z says

    Jews did 911, Fukushima, Both World Wars and they control the money and media.
    Their plan is one that always works for them: famine.
    It is all over save for the screaming.
    The money is worthless and revaluing worthless is, well, worthless.
    Derivitives are set to unravel.
    Get your money out of the banks and buy bullets and storage food.
    Zombies are going to eat brains and the rest of the body as well.
    No food, no gas and no electricity.
    Laugh while ye may.

  2. Carrot says

    Therer is only one catch that could happen to all those holding Iraqi dinars or other currencies in the same situation and that is if and when a new Iraqi dinar is introduced and all those oustanding cash funds in the US and else has to be changed try that one!!!!!

    That is talking cash, however, accounts can be hit sooner and earlier through legistlation and foreign exchange regulations especialy among countries that are not friendly to each other.

    The IMF will never gain the status its dreaming off since its controlled by the West to the benefit of Western interests.

  3. D Sam says

    It’s alway humerous to me when I read negative commets about the Iraqi dinar. I am not surprised that there are so many people in the USA that doesn’t understand how our government REALLY works. It’s nothing but a shell-game that our government plays and “We” are used as the nuts under the shell.

  4. networth says

    Nearly everything in this article is wrong. I don’t know if the author is intentionally deceptive or just a useful idiot but it doesn’t really matter. The revaluation of the Kuwaiti dinar did not happen as described by the author. Saddam Hussein stole the printing plates of the Kuwaiti dinar and printed billions of them. That’s what destroyed the value. The kingdom had the the serial numbers of the all the Kutwaiti dinar it printed before Saddam stole the plate. Once Hussein was defeated and the plates were recovered, the dinar printed by the kingdom BEFORE the war were reinstated to their value before the war. There was then a small window to exchange those dinar for new dinar issued by the kingdom. It is simply a fallacy to state that the Kuwaiti dinar was revalued. It’s not true. Additionally, if the author bothered to research, he would discover that the real reason for our paper surpluses was our economic growth. Spending continued to increase but not at the rate of revenue increases to the gov’t. In other words, revenue growth, outstripped expense growth. Eventually, that leads to surpluses (at least on paper). Don’t fall for this garbage about the Iraqi dinar or Vietnamese dong. Those currencies arent’ going to be suddenly revalued and save the world. Despite the contnentions of the author, wealth is NOT created by revaluing currencies.

    • LD says

      If wealth is not created by revaluing currencies,and your saying this is not a way? Just how many ways are there to get wealth? My guess is that there are plenty! aw and you must really care about us a whole lot huh? I’m wondering are you wealthy yet? and if so why don’t you share with us how you did it! I’m dying to try your method also you know mo money mo money mo money!!! B-/ huh hum mm m I’m listening B~} Duh!

  5. Asia says

    It looks like Iraqi Dinar will revalue…however …some ppl are saying that it will start off low and then go high after 30 days…and some ppl are saying the opposite and tha…it will be high and then go low after 30 days….what to do…

    • says


      Very good question. I have no idea.

      My guess is it will begin on par with the dollar since Iraqis are used to that and go up. But if it is an RI, it will be over $3.00


  6. Joe Knows says

    This article is really factual. BUT! The international community is aware of this and may be taking steps to rid the world of the western leaders. Think like this and you might get it. Liberate Kuwait and reap the rewards of their currency revaluation. Then Iraq do it again. What country is after that? The IQD will RV but when? Doing the RV of IQD now then the despots we all want removed from power are suddenly refinanced and begin their thought process of who’s next. Endless wars of conquest was NEVER America’s way of governing. The states and their leaders are the terrorists period! Problem Reaction Solution! Wake up humans! We the people are in need of bankers to be arrested for the mortgage backed securities fraud that was the direct CAUSE of the 08 crash. The HUGE moral hazard created by this mess will have to be dealt with. Our children HAVE NO FUTURE UNTIL!

  7. Betty Jean Murnion says

    Please tell me about cashing in and why we have to be extremely careful going to the bank. The ONe World Order is in the game and they are directing alot of things.
    Do you agree? I think you so much for your imput.Betty Jean Murnion

    • says


      I would not let it out of my sight. Some banks want to send it off to be verified. The alternative would be to go to one of the sites of one of the vendors such as Dinar Banker or Dinar Trade.

      Whatever you do, diversify and don’t keep all your eggs in one basket.


  8. Michael Cifala says

    Very interesting read, I always wondered how Bill Clinton balanced the budjet in such a short period of time.

  9. steve says

    Well, you almost got it right. This is being done as we speak–but it seems “O” is trying to figure out how he can get the credit. Contract have been signed with the new amount for the IRQ Dinar. Read Presidential order 13303 from Bush and renewed by “O”.Iraq has the wealth to support a 3-16 dollar dinar. US also has a contract to by oil from IRAQ for a little over $30.00 dollars a barrel. So, they will turn in there dinar for oil. Hope we see some of the low cost oil! LOL–Armed Forces will get it(oil) and maybe the Senators/ Congressman will switch over to oil furnaces in there homes. Remember they do not work for you they work to line there pockets. By the way they the senators own million of dinar!! Watch your backs!!

  10. Jere Miller says

    Dene: Been a long time since we have talked. Still in Florida. Great to see you are still out there providing info on the web. And glad to see you understand the dinar and the place in holds in world economic strategy and in mine (and yours) as well. The days ahead are looking pretty bright right now my friend!!! God’s Peace and Blessings.

  11. says

    To the dismay of many will many have unsubstancial wealth. So many live within the box that to see outside the box is blinding. Iraq will revalue and it will revalue well over $3.00 per dinar. This will happen in a short time now, so those of you whom can vision a dream still in this sad economy, get some dinar before its too late. The recession will be stalled for a couple of years while this takes place, then when the millions who have wealth stop purchasing, the reality of the recession will return 100 fold worse, causing the end to what we call the value of the US Dollar. For those who have stocks, and have not prepared for this will see dire circumstances. Not only the monatary system will fail but all things we see as common will be rare. Prepare yourself.

  12. CDE says

    @ Michael Cooper: The math is correct in the article. I am sorry that you sold your Dinar and hope that you won’t be kicking yourself on your backside when these currency revaluations do come to pass.

  13. says

    Where I work, buying and selling of iraqi dinar has been going on for roughly 5 years now-so far the only person making any money from this is the main man selling the dinar.I bought 150,000 dinar when it started for 150 dollars then sold it all back to other fellow employees who still have the dream-I have 1- 25,000 dinar iraqi note and at 3 bucks a dinar it would make that 1 note worth 75,000 american dollars.Soooo your math is waaay off-if the us treasury has 3.5 trillion iraqi dinar at a revalue rate of 3us dollars would roughly be 300 times 3.5 trillion us dollars.Besides with the new turmoil in iraq since the US has pulled out and they know all these dinars are being held, that they wont just declare that the present iraqi dinar is worthless and are creating a new dinar?Its highly unlikely that my 25000 dinar note that I paid 20bucks for is suddenly going to be worth 75grand.But the dream still lives on-


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