Iraq Dinar 'Investment'?

[silence]

I am an ebay regular, and I see e-books for sale promising information which concerns a 'once in a lifetime' financial occurence where you can make zillions of dollars. Without buying these books I have managed to find out that the basic info in them is to buy iraq dinars. Apparently these are only worth a fraction of a US cent and they are not floated, only a tiny turnover occurs of a few thousand dollars worth per day. If they were ever to float and the economy improved to any level of stability, then the return to those holding them now would be thousands of percent. In theory.


Now, I was wondering if anyone here knows anything about iraq dinars and the true riskiness of buying them? All the ebay sellers who sell them are trying to ask at least double what they are worth and touting them as virtually risk free...
And how would you buy them yourself? Some sort of account with an iraq bank?

Any comments, experiences, etc would be great.

 

[tasmanian]

Gday silence,

You really have to ask yourself why are these people selling them if there going to be worth so much. Thats if Iraq ever does return to stability. Thats a big IF mate!!!!!!!!!!!!!

Good luck with whatever you decide.

 

[BSD]

I have some land on the moon you may want to purchase from me.

Whenever we get around to colonising the moon it will be your ticket to financial freedom.

Don't miss the opportunity to kiss your job goodbye.

______________________


Why not buy some Zimbabwe currency to diversify - it is a real bargain at the moment, truly a buyer's dream

50,000 Zimbabwean dollars - actually worth around half a US dollar

http://news.bbc.co.uk/2/hi/africa/4665854.stm

______________________

Why are they selling if it is going up?

 

[Kauri]

Saw a show on TV a few weeks ago where a bloke over here in the west was confronted by a current affair show whilst trying to peddle dinars with the same promises. Was last seen scurrying off down the road with reporter and camera crew in hot pursuit. The show then got Rich Swannell (of "The Elliotician" ) to give his expert opinion as a top currency trader. He said it was a scam, and if anyone is qualified to call it that, he is.

 

[Julia]

Silence

It sounds like something of similar integrity to all those letters and phone calls out of Nigeria! Don't be a sucker.

Julia

 

[Bobby]

Silence

It sounds like something of similar integrity to all those letters and phone calls out of Nigeria! Don't be a sucker.

Julia

Hi Julia,

Hope your well.
Yes I agree with your thoughts on the Iraq currency = worthless ~

Bob.

 

[nioka]

Check out the google adds re Dinar sales at the bottom of this page. ????????

 

[MrsCK]

Is there any update on dinar?

 

[sam76]

I bought a couple of uncirculated Dinars when I was in Japan last.

Simply because they had Saddam on them and were mint.

cost me about 200Y from memory.

 

[KIWIKARLOS]

hahahaha i saw this scam a while ago.

The funny thing is most iraqis dont even use the Dinar. Its all US dollars now, the way things are goin there wont even be an iraq soon just a big desert with oil wells and George bush playing cowboys n indians waving the flag of democracy . yeeeeeeeeeeehah

Ps i think since that advert the dinar has slid even more and good luck finding anyone to buy the stuff. The paper is literaly worth more than what it represents

 

[MrsCK]

hahahaha i saw this scam a while ago.

The funny thing is most iraqis dont even use the Dinar. Its all US dollars now, the way things are goin there wont even be an iraq soon just a big desert with oil wells and George bush playing cowboys n indians waving the flag of democracy . yeeeeeeeeeeehah

Ps i think since that advert the dinar has slid even more and good luck finding anyone to buy the stuff. The paper is literaly worth more than what it represents

Wow Your statement is not what I am hearing. I have a friend that lives in Iraq - he is a student in college - he does not use US Dollar but the dinar as a currency.

Also due to the research I have been doing into the dinar currency it does not look like a scam but is following with Germany revalue with the Marshall Plan and also going the same route as Kuwait.

If anybody else may have some info I would like to hear it.
thanks

 

[MrsCK]

Iraq's HydroCarbon Law will be announced on CNN at 1pm EST today - thursday June 21, 2007.

With the announcement of the HCL it will enact the Budget and the Iraq isx will open on July 1st to stock traders.

cheers

 

[>Apocalypto<]

as much as this sounds like a scam you need to look at it from every angle.

One example Chinese yuan has strenghened up to 5% in the last 3 years.

Another Brazil if floated could show a rise in the future and the Indian currency another that could pick up.

But Iraq could be a real long wait. On another side of investment back in 01 you could pick up a nice house and land in Phnom Phen, Cambodia for under 50K. today prices have doubled to increased 400%.( so I was told buy a couple of Cambodians) so there are opportunities for the daring!

count me out though!

 

[MrsCK]

This really surprise me that this forum is not having much posting on the dinar. I am members of many stock forums, even iraqs, and there is much talk about the dinar.

The iraq isx opens Aug. 2 to non-iraq's. This is HUGE for the value of the dinar. Other countries are a buzz of this up coming day for iraq. Right now their stock shares in iraq are very cheap and many that have an account at Warka are already making money on their shares.

Plus the IMF is revalue 6 countries before the end of July. But I see no posts on these currency's.

Is there a thread that I am missing that talks about the revalue of currency for china, india, vietnam, UAE and Kuwait?

thanks for the help
Chris

 

[Ramblin Round]

Thread digger...I know. But I had to search it to see if anyone here was involved with Dinar as an investment too.

I bought 1.25 million New Iraqi Dinar (NID) back in 2005 and have watched it crawl right back up (down) to the exact amount that it has been worth now which is 1170 NID to 1 USD since Nov. 2009. And that so happens (no coincidence I'm sure) to be about what I paid for it when you account for the dealer's inflation in 05.

Theoretically yes the Kuwaiti Dinar was 3:1 to the USD when we liberated Kuwait, but we didn't blow away its entire government like we did in Iraq. A lot of people in the U.S. probably did get rich back then because there was no internet in 1987-1990. Now I believe everyone knew what it was going to be worth the entire time and used Kuwait as an example/speculation to get people on board. All the pump and dumpers on that forum kick you off every time you sigh a foul word about how crappy of an investment it was. So I quit re-joining. It will still be at 1170 in 3 years when I decide to look again anyway.

The Dinar is the absolute worst investment I have ever made. Scam ? Hell I don't know. I gave some away as gifts, novelties, etc. It's the going joke here at the office about how I will retire. I have noticed that the education level of the members of the Investor's Iraq Forum isn't that of the sharpest minds on Wall Street, that's for sure. Sorry if I offend anyone but it has the collective IQ of a baytown circle track forum.

 

[Gopes]

From what ive read and understood the oil reserves in iraq are now the largest left in the world so there is a reasonable chance that at some point iraq will be stable enough to at least get the oil out of the ground. But that doesn't mean the iraqis will revalue the currency. You would be better off investing in iraqi stocks. Because even if the currency doesn't get revalued its pretty likely the stocks will re adjust with time. What im trying to find is a company with a fund thats hedged to the isx and the dinar. Its a better chance of recovery. After all iraq has great agriculture (exports to europe) and natural resaurces in the world. If you can find that and pop 1000 in its only a small amount and could go as high as 1,000,000 if the dinar and/or isx recover to the pre war levels. One day the war will end and its a good thing to invest in these places as it helps recovery and stability. Thats an awesome thing to invest in

 

[theinvestorguru]

From what ive read and understood the oil reserves in iraq are now the largest left in the world so there is a reasonable chance that at some point iraq will be stable enough to at least get the oil out of the ground. But that doesn't mean the iraqis will revalue the currency. You would be better off investing in iraqi stocks. Because even if the currency doesn't get revalued its pretty likely the stocks will re adjust with time. What im trying to find is a company with a fund thats hedged to the isx and the dinar. Its a better chance of recovery. After all iraq has great agriculture (exports to europe) and natural resaurces in the world. If you can find that and pop 1000 in its only a small amount and could go as high as 1,000,000 if the dinar and/or isx recover to the pre war levels. One day the war will end and its a good thing to invest in these places as it helps recovery and stability. Thats an awesome thing to invest in

Hi all,

I originally from middle east, quick answer " do not bother"
The central Iraqi bank control the currency, and when there is no government it worth nothing.
This is my opinion
Good luck all