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Old 09-18-2010, 12:49 PM
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Default Buying Iraqi Dinars



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Got this email from a friend so I thought I would post his query here and see what you guys think. I know nothing about finance but get the gist a lot of folks are not too keen in believing in any fiat currency holding much less gaining value.

Have a friend explaining or encouaging me to investigate buying Iraq Danir.
I have done a little research but think it might be years..5-10 years before
the currency is worth anything. If I bought a $1k and held it, which I can
afford to lose, then maybe when boys are ready for college it might be worth
something. Got this little ebook for advise.

Any thoughts....

link to website

http://www.iraqidinar.org/
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Old 09-18-2010, 01:03 PM
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I know guys that bought the new iraqi dinar back in 2004, they got it for 1200 dinar to the dollar, now its 1169 to the dollar. One guy bought 2 million Iraqi Dinar.....still has it in a footlocker. It is worthless and has gone down since then. I am no financial master of any kind, but I dont believe it will ever be worth anything more than now. But who knows, I would be very cautious. Buying silver might be a better investment from what everyone is saying.
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Old 09-18-2010, 01:47 PM
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Do you foresee the situation in Iraq improving or declining in the near future?
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Old 09-18-2010, 01:55 PM
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It is a scam played on gullible people around the world. Investing in money that has no backing from a country that is going through its own apocalyptic times is not a good investment.

Invest in something you can use. You can't go to your local Best Buy with dinars and buy a plasma.
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Old 09-18-2010, 05:10 PM
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Several of the fellows I worked with in Afghanistan had worked in Iraq and had upto $11,Million in Dinar. They bought for around $360.00 per million. I looked at it also. Talked to an Iraqi man in Bagram who said in his opinion he thought at the end Iraq would just denounce it and strt again. With the US pulling out of Iraq I do not see any stabilization, which it will take. I do not at this moment know the rate of exchange on the Dinar but it is over 15-1600 to 1 I think. Only a bit of an odd not. The Afghani dollar is trading at 55 to 1 on the rate of exchange. Afghanistan has nothing to back their dollar. Iraq has an abundant of oil......Kind if makes me wonder...This is just my opinion but I passed on the Dinar. Instead bought Afghani Rubies, emeralds, saphires, and some diamonds.
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Old 09-19-2010, 04:27 AM
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I do not at this moment know the rate of exchange on the Dinar but it is over 15-1600 to 1 I think.
Iraqi Dinar 1159 to 1 US Dollar. Iraq has oil as a resource.

Afghanistan has been in the news recently with discoveries of large amounts of precious metals and other valuable minerals.

Both countries are very unstable, their paper money I believe would be a risky investment.
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Old 09-19-2010, 08:30 AM
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Iraqi Dinar 1159 to 1 US Dollar. Iraq has oil as a resource.

Afghanistan has been in the news recently with discoveries of large amounts of precious metals and other valuable minerals.

Both countries are very unstable, their paper money I believe would be a risky investment.
How will you make the exchange back to dollars?
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Old 09-19-2010, 09:04 AM
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How will you make the exchange back to dollars?
I dont have any foreign currency except for a few dollars from here and there, mostly just souveniers. I have no clue how you would exchange money from Iraq or Afghanistan. I have also heard there is alot of conterfeit Dinars floating around so if anyone is planning to buy it, make sure it is from a reputable source.

I got a bunch of old Saddam Husssein money, worth zero, but they work for good zeroing targets.
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Old 09-20-2010, 02:10 AM
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Afghanistan has always had precious metals and gemstones, but the country side is so unstable travel incountry is all but impossible for anyone excepting locals. Afghanistan is also a landlocked country. They say no white man has seen a ruby mine since before 1900....so they say anyway..This is how volitle the countryside has been.
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Old 09-20-2010, 03:30 AM
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Default Dinar

I would say invest in precious metals and heirloom non-gmo seeds. If dinar is what you are considering then only invest what you are willing to lose, it's a gamble.
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Old 09-20-2010, 01:06 PM
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http://www.learningmarkets.com/Forex...ose-money.html
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Old 09-20-2010, 06:07 PM
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Buying a fiat currency is never an investment regardless of the rate of return. That's speculating. Speculating is not investing.

As far as speculating in Iraqi Dinars; you're better off buying penny stocks. Forex is NOT for the novice.
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Old 08-19-2012, 06:23 PM
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OK, I'm resurrecting an old thread. I'm at work in a town that is having a SHTF moment right now (water), and the fire department is running water to the hospital's cooling system every now and then. Anyway, one of the fireguys said that after the muslim ramadon stuff passes, there is supposed to be a "good deed" preformed. He said that this year's deed is the re-valuation of the Iraqi Dinar and he is buying into it. From the description, it's like investing into any fiat currency that is starting up. Anyone else seeing this scheme floating in the financial world?
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Old 08-19-2012, 06:48 PM
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The Curse of Saddam: Iraqi Dinar Deals

You Can't Fix Stupid: The Iraqi Dinar Scam Lives
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Old 08-19-2012, 07:06 PM
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Quote:
Originally Posted by TxRanchMedic View Post
Anyway, one of the fireguys said that after the muslim ramadon stuff passes, there is supposed to be a "good deed" preformed. He said that this year's deed is the re-valuation of the Iraqi Dinar and he is buying into it. From the description, it's like investing into any fiat currency that is starting up. Anyone else seeing this scheme floating in the financial world?
proving once again that there is one born every minute
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Old 08-19-2012, 08:48 PM
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SCAM please dont do it it seriously is a scam
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Old 08-19-2012, 10:14 PM
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Quote:
Originally Posted by TxRanchMedic View Post
OK, I'm resurrecting an old thread. I'm at work in a town that is having a SHTF moment right now (water), and the fire department is running water to the hospital's cooling system every now and then. Anyway, one of the fireguys said that after the muslim ramadon stuff passes, there is supposed to be a "good deed" preformed. He said that this year's deed is the re-valuation of the Iraqi Dinar and he is buying into it. From the description, it's like investing into any fiat currency that is starting up. Anyone else seeing this scheme floating in the financial world?
Dude is about to be seriously disappointed. I can't believe this scam is still being perpetrated.
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Old 08-20-2012, 12:33 AM
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Quote:
Originally Posted by Deadmeat99 View Post
Dude is about to be seriously disappointed. I can't believe this scam is still being perpetrated.
I knew the 2004 origin was a scam, but there was alot of modern information added to the new sales pitch.
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Old 08-20-2012, 01:59 AM
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Quote:
Originally Posted by TxRanchMedic View Post
I knew the 2004 origin was a scam, but there was alot of modern information added to the new sales pitch.
Lottery tickets are heavily marketed as well.
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Old 08-20-2012, 04:19 AM
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I had a sister in law get in on this. She didn't buy much, but some of her co-workers spent thousands. What a waste.

Think about it. If this was such a good deal and is going to make you rich, then why would they be selling it? Sigh......
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