Hi everyone. Quite a bit has happened since this article was originally posted last July. Some dinar gurus have been put in jail, others have had their sites shut down by the FBI, and certain currency dealers were put out of business. I strongly feel that members of the dinar community should do even MORE research before they jump into the Iraqi Dinar. New 50,000 Dinar banknotes were released, contrary to what the dinar gurus have been saying for years. Here is a picture of them:
The original article begins below.
Regarding the Iraqi Dinar I started this site to discuss Currency and Financial Market Concepts, hence the name CFM Concepts dot com. To start off with, I just want everyone to be aware of this IQD currency scam. I actually got mixed up in this one due to the “pumpers”. Now, I admit, it’s my own fault for not looking into this, but they all made it sound so imminent, like a once in a lifetime opportunity.
What is the Iraqi Dinar Scam?
The Iraqi Dinar Scam is a major problem, there are probably millions of innocent people caught up in this. People have been discussing the Iraqi Dinar RV for so long that it just simply boggles the mind.
Here is how the scam works in a nutshell for those who are not familiar with the scam.
- Person hears about the Iraqi Dinar Revaluation from a conference call or a friend. The people who make these calls are called “dinar gurus”. Oftentimes, they are paid by dinar companies (see below) in order to get them to tell people where to buy their currencies from.
- They hear that Kuwait revalued their dinar back in the 1990s, and some people make millions (false statement)
- They are told then to either a, buy Iraqi Dinar right away, or b, listen to another conference call.
- Individual then goes out to purchase Iraqi Dinar currency, then finally
- They are stuck listening to endless dinar conference calls for years.
- Eventually, they either wake up to the scam and warn others, or they keep buying more dinar.
TNT Tony AKA TNT Dinar
Read this press release from May of 2015 (link updated 2/9/16):
Iraqi Dinar Scam Update TNT Dinar Guru Tony Renfrow Changes Plea
TNT Tony’s real name is Anthony Wayne Renfrow. He was responsible for the 14 daily plus dot com scam.
The person mentioned in this article is also known as TNT Dinar, and he has been pumping this scam since 2011. At first, he pumped for PTR, or People’s Talk Radio. He was removed from the show and moved to his own private format in July of 2013, where he remains today. He has a website and a private forum filled with individuals who donate hundreds daily to him.
Since pleading guilty and awaiting sentencing as of today (July 2015) he makes no mention of the scam he was running. There were many investors in the currency who lost a combined total of over $2 million.
Here is a link to the FBI report on the dinar rv:
FBI – Iraqi Dinar Investigation
Should You Trust A Dinar Guru?
The following video illustrates why people should never trust any dinar guru but to do their own research. Many of these individuals claiming to be experts in the dinar currency are not to be trusted. It’s obvious that the recent move by the Central Bank of Iraq proves that these so-called experts did not have insider information as they told everyone.
After viewing this video, it becomes clear that the so called experts who told the masses to invest in the “lower denomination banknotes” were lying.
Due to the fact that this scam investigation is ongoing, I will be updating this page from time to time so check back often. I most likely will be posting more information on the homepage rather than this post itself.
Please share this, it’s important people wake up to what is happening.