It's a pity US Federal authorities have so many other items to occupy their time as it is fairly clear a bit of investigation would yeild evidence of clear fraudulent behaviour. Petty and silly, but certainly also criminal.

Of course the people lapping it up are also criminally stupid. I spent a good 20 minutes marvelling over the sheer confusion reigning with regards to the simple distinction between changing the nominal denomination of a currency (as in the case of the Turkish Lira) and an actual appreciation or depreciation of its value vis-a-vis other currencies. These clownish fools simply do not seem to be able to grasp the difference (of course they also seem to be unable to grasp simple market mechanics such as supply and demand, so that is perhaps not surprising in any way - never mind the sheer madness of holding actual physical currency given the multitude of risks involved). I should add there is also a truly bizarre habit of seeing everything through a quasi-conspiratorial Dinar lens as in this case where the silly fool thinks the long standing pressure on the MENA region to tighten up banking laws and the like has something to do with Iraqi dinars.

The most amusing part is the flailing about in regards to valuation. I briefly tried to extract some critical thinking in posting there mid-August but gave up. The naivete is somewhat painful but in the end, well, the fools have bought the get-rich-quick dream. (Parenthetically the foreign currency as equity is an utterly wrong approach to the concept, but at least had the positive aspect of forcing the person in question to lay out thinking. I thought about going back and commenting on this, but in the end it would have been futile).

Pantom, however, I am sure, will enjoy reading that.