It is critical of Mountain Goat's "intel" from yesterday and directed ONLY towards her sources and the conclusions that they lead to. I obviously know nothing about the lady and have been careful here to be civil.
EVERY attempt has been made to self-limit and edit for content here in order to give this a format that can be passed along.
The dinar community has lost it's compass in many respects and this attempt by me to bring some needed balance is likely as NON confrontational as you could ever expect.
Memphis note: all MG quotes are bold font and in italic
MEMPHIS - "A Response To Mountain Goat"
quote from Mountain Goat's Monday posting:
"I know some of you reading this... [lack] the capacity to understand it even if it were so obvious it could bite you in the nose….lol.. but this is your fault due to your education. I will not suppress the truth as a mere convenience to satisfy your ego. Maybe it is time to get educated."
I like truth! In truth, I love it! Let's dig deeper…
By the time I read this quote buried deep within Mountain Goat's blog yesterday it was clear that my sensibilities were already tested by repeated efforts to sell a storyline that was riddled with contradiction. In this post the reader will see evidence (clearly laid out) to show how I came to this conclusion with great attention given towards civility.
While some may be waiting for her (MG) to produce a grand list of names for the world to throw darts at I believe that a close L@@K at part #1 of her blog from yesterday might change any such expectations.
I have yet to even read part #2 of her blog as part #1 seemed sufficient for this exercise.
If you found yourself scratching your head over her intel and crave desperately only those things with real value then this post will likely check some boxes on your list.
If true, then please thank the editors of Dinar Recaps for without allowing this (admittedly) controversial post to be made public you would not be reading these words. Thank you DR.
If you found nothing concerning in the blog to which I am referring that's ok too! Please join us and decide for yourself if my criticisms have any merit.
If you conclude that they do then you should find yourself on a new "dinar path" that will offer some relief from the stress and worry that many good folks carry with them as if it were a requirement to do so.
In 3+ years of being a student of the dinar I have daily sought out (above all else) to know the truth in any given matter and have spent countless hundreds of hours attempting to bring balance to the discussion by sharing my studies with other "Dinarians".
I am careful to surround myself with exceptionally bright people and make it a point to never speak publicly on a thing unless the matter has been "tested" and in so doing, have kept my mouth shut many more times than opened.
If you see value below, please take it with you (carry it) and share it with like minded people.
After carefully reading the blogs of Mountain Goat for many months I have decided to offer some balance regarding her "sources" and the resultant conclusions.
This balance is INTENDED to be helpful to others and in no way a personal attack on her.
She is likely a very nice person and I am in no way attempting to "bring her down" today. I will simply show support here to PROVE that her sources and/or her representations about current and coming events are flawed and lacking in substance.
Today I will carefully avoid all minor points of concern within and speak to just one fundamental flaw in her thinking (her conclusions and assertions) as it is so central to all dinar discussions going forward.
Many things are thrown out as fact (coded as "intel") to holders of IQD when there is little or no support in the real world to even allow it to be possible.
To be clear, I am not looking to be a crusader but have, at select times, made observations on some of these points as this is so totally unnecessary. The factual support for re-pricing of IQD is quite sound. The truth really is enough.
My final disclaimer, when assertions made by others have been unprovable either way I have always tried to remain silent and in that same spirit, had MG's comments Monday simply been various "shades of grey" then I would not be talking here. We have gone well past grey….
Yesterday I posted here of the great value to be gained in discerning those things of importance, of substance, that we ought to pick up and carry with us vs. those things that are best dropped to the floor.
The following is a mild exercise in critical thinking that will illuminate yesterday's point in a practical, real world application. Here we go....
I propose that any attempt to explain a supposed "hold-up" in the re-pricing of the dinar must do three (3) things:
1) clearly define the players
2) clearly establish each players role
3) be consistent with the workings of the real world with support for any exception(s) made
With that important framework established, let's examine the following:
On point #1 were one or more players left undefined for the reader?
On point #2 were one or more of the players allowed to change roles with no support or apology?
On point #3 are there any inconsistencies to the way the world of finance functions?
Point #1 CLEARLY DEFINE THE PLAYERS
The USA was referred to loosely such that the reader knows not who SPECIFICALLY to point the finger at.
These many "USA" references are central to the entire discussion and can only make sense to the reader after making clear EXACTLY what "USA" means. It REALLY matters.
Was the author speaking of the banking system at large and our central bank, the Federal Reserve, or was it a reference to our government? Or perhaps just one agency within the government such as the Treasury (UST)?
The following quote (condensed) provides us the needed information:
"The USA in only supposed to administer the technical process since they control the software....the USA maintains and owns the technical software and controls the rollout process to the banks and money exchanges....the USA controls the final link to getting the new rates international...[and] also controls the web site for the CBI and so this site too can not be updated with the new rates until the USA completes the rollout to all downstream applications...the USA unofficially and indirectly controls the process."
Before moving to point #2 it is essential that we all agree that neither the UST nor the US gov't at large can meet the above criteria as it is only the FED who controls the banking system. Agreed?
As we move forward then, all quoted references to USA will be followed by: [the FED].
Point #2 THE PLAYERS CANNOT "SWITCH SIDES"
In any critical analysis such as this we must clearly state who the bad guy will be. Even as a young boy I could not play cowboys and Indians with my friends until we had picked sides and once sides were drawn? There was no switching.
Let's examine some of the specific language in question:
"...There is talk that the CBI is contracting with a company now to build their own site and roll it out very soon with the new rates to advert the USA [the FED] influence. The IMF is encouraging this as a means to ensure they can control their currency independent of the USA [the FED]..."
Here we are clearly told that the FED is defying their bosses at the IMF. The FED is thus the "hold-up".
Given that FED chairwoman Janet Yellen also sits on the IMF Governing Board we must appreciate the conflict of interest as she leaves the boardroom at the IMF, travels across town for a board meeting at the FED, and then proceeds to argue against her own scheme from earlier that same day and attempt to thwart it. No wonder Ben resigned...
continuing with another quote:
"...I am hoping you will see the internal fight going on between the owners of the CBI and the USA [the FED] and how this all progressed over the last couple years into a huge mess."
The question must be asked, who are the 'owners of the CBI' that are referred to here? Are these not the same interests who control the FED and the other central banks of the world? Are we to conclude then that the world's central bankers are having an internal war with zero evidence to support such claims? Note that the FED is still the "hold-up".
In a bit of irony this next statement (quote) acknowledges this very truth but ignores the inconsistency in applying it!
"...Remember this – Who owns the central banks around the world? This link will tell you. It’s no secret."
I am still scratching my head over that one. Continuing with another example of players changing sides:
"...There are certain items now up for contention that must be released by these families (or entities) in order for the apposing sector to allow the RV to happen..."
This is a clear reference to the "banking families", the brokers of the world. The proper question here is who are the instruments that these families use to enact monetary policy? The BIS, IMF, and Central Banks around the globe right?
So we have just witnessed the IMF and BIS changing caps and being the supposed hold-up to the process? Note that the FED is no longer the "hold-up", it is now their bosses and their bosses bosses.
To close discussion on point #2, we see that yet another "bad guy" emerges:
"... as long as the UST is given directions to stall they will continue to find excuses to hold up the final rollout."
In case your getting lost here, we started with being told that the supposed hold-up is at the FED and then progressed to the banking families (IMF, BIS) and now have settled on the UST, a branch of the US gov't. The UST is the "hold-up".
Question, if all the "cowboys" are allowed to switch sides and become "Indians" then do the Indians change suits as well? Who exactly is it that we contend with? Is this not an essential point to determine?
Thus far in our look at points #1 & 2 we have failed to find the needed support as to the party responsibly for our "delay". Let's conclude then by examining point #3.
POINT #3 ARE THE THINGS PRESENTED CONSISTENT WITH THE REAL WORLD?
At this level we each must bring to the table some basic knowledge of the world in order to have a fruitful (profitable) debate. Discussions at this level quickly get complex and are not for the faint at heart.
Given that we each have varying interest in such matters this 3rd point is a challenge to discuss among such a wide audience.
Please indulge my feeble attempt to do so anyway as this final point #3 is critical to my concerns with Mountain Goat's assertions. Let's begin with a quote that might seem insignificant on the surface but is of great importance here:
"...You wanted to know why the hold up of the RV process? Who is holding it up? Well I am trying to tell you.. Are you listening? Do you really want to know?"
This is a great example of the type of statement that has so often gotten the dinar community all tied up in knots. Notice that there is no room for debate in her words as the matter of "delay or no delay" has apparently been long ago settled in some back room session of great minds.
Coming back to the real world here, the TRUTH is that very little evidence has surfaced to support this conclusion of delay(s) and much less to close debate on it! In fact, the EVIDENCE has been quite compelling that there has been great momentum in 2014 towards Iraq's monetary reform.
When reflecting on the question of delay I find only weak support for past years (2012-2013) and some rather strong support to argue that it was a REAL possibility in early 2014. Beyond this the evidence is lacking.
note: I even hesitate to weigh in too strongly on early 2014 as one credible source was telling us back in Nov 2013 that it was not scheduled to re-price until May of 2014! Most would have called that heresy at the time but we (undefined) took it as something worth carrying around with us.
The conclusion that I come to is that this discussion quickly devolves into chasing our own tail. The fact that the RV has not manifested despite all the "Intel" that has failed to produce fruit REQUIRES an answer.
Such talk of delay(s) makes room for the next round of "this is what we are hearing from our sources" as a scapegoat is needed if the predicted time frame comes and goes. And what saddens me most is that we have collectively allowed it to slowly grow.
Lest I get off point let me finish this thought by suggesting that Mountain Goat's latest intel offers conflicted and even worse, mutually exclusive, conclusions as to WHO is causing "delay" based on loosely defined players whose own PROVEN self interests prevent them from fulfilling the roles that she has given them.
In further study of point #3 this quote needs comment:
"Let me also give you an historical perspective on this revaluation process since I have been following this now for many years. This is important to understand and it can give you a good perspective to how messed up and manipulated this RV process really is and who messed it up."
On the surface many of us likely thought this sounded like a smart statement. Who among us would take exception with language such as "historical perspective" and "...to give a good perspective"? Certainly not I.
But how many of us were left frustrated when we recognized that she failed to deliver what was promised? This was the action part, that which was to be forthcoming: "...how messed up and manipulated this RV process really is and who messed it up."
Upon careful study I see no actual evidence or proof of the "process" being either messed up or manipulated. Did you? And as to WHO has messed it up? I again came up not only empty but even worse is that I was told to blame everyone….but not at the same time.
Speaking to the readers here who have some understanding of the world's financial powers I have a question.
Do you find it plausible that the most powerful people in the world who determine the fate of entire nations before lunch time could truly be so inept as to allow such a monumental event become bogged down in chaos and "messed up"?
If you conclude that it is even REMOTELY possible, should we not expect at minimum some small evidence before ascribing value and making it a doctrine upon which all else is built?
A final observation on point #3 regarding this quote:
"Clearly the process is owned by the Central Bank of Iraq (CBI)."
We are told clearly here who owns the process, the CBI, and then led into several statements that also make the same fatal mistake. The mistake here is SO important to recognize because it is central to how the financial world functions.
The CBI is not the final authority here and the IMF is not playing referee to their branches and the FED is not working against their fellow bankers. Folks there is a pecking order in the world and we must respect that.
Consider this, was it the CBI that called for the DE-valuation of their nation's money over 10yrs ago? If not then was it the US then who stole the wealth of a nation in a day? No? Who then?
I hope people can wrap their minds around this point. The CBI will publish a new value for the dinar when they are TOLD to. Who will tell them to? Do we truly care?
The process will complete when the "decision makers" of the world, the people who control the IMF, the people who call The BIS and tell them to "get this done" or "that done" decide that they are ready. Not a day earlier and certainly not a day later.
I respectfully submit that all this talk that "the US gov't is the hold up" or "the US president won't give in" needs to stop. This nonsense was boring to many of us the 1st 10 times it was thrown against the wall and the stuff still ain't sticking.
Every US president in our history has either known his limits of power or was quickly shown exactly where the line is drawn. If my words here bother or upset you then feel free to add "IMO" as much as needed. I am not seeking an emotional reaction today but a cognitive one.
I am normally quite careful to allow room for others to form their own opinions in all matters but in this case it needs to be stated plainly that the world is not suddenly spinning in the opposite direction simply because someone tells us it is.
Remember that in the long term we can ALWAYS expect mankind to follow his nature that is bent towards self interest and greed. To ignore this truth will lead us astray every time.
I am confident that any brokering that might be taking place is nothing like what we might expect. The sovereign debt issue is way more at play here than people ever speak to and our only sane action at present is one of patience as it is all way above our pay grade.
In closing, this reply to Mountain Goat is made in hopes it will help nudge the discourse back towards things of value.
I have concluded that the probability for any list of supposed offenders to be made public (as advertised) is QUITE remote.
This conclusion, as you have read, comes not from loose conjecture or "because I said so" but rather because upon close examination, this final quote is quite simply lacking in support and thus can be given no value:
"...the stalling of the rollout of the final steps of the RV process is still continuing...If you are told the process is progressing those that tell you are lying...Nothing has been done. The stalemate continues."