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Iraqi Dinar - Solid Investment or SCAM?

Submitted by HuskerSkier on Wed, 02/22/2012 - 12:51
in

Does anyone here have any insights or opinions on investing in the Iraqi Dinar?

I have a friend who took out a loan to purchase some. In my mind that is a horrible idea, but I was thinking about picking up a little.

Any thoughts DP?


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It is a scam

Submitted by pblumel on Wed, 02/22/2012 - 19:50.

The currency is imported under false pretenses (as a collectible even though it is being marketed as an investment) and is being sold by hucksters to well-meaning innocents. Currency traders won't touch it as it is not a legit investment. Please stay away from it.

I bought 75,000 IQD for 108

Submitted by Barracuda_Trader on Wed, 02/22/2012 - 19:31.

I bought 75,000 IQD for 108 USD

Iraq has oil and there is pent-up energy for commerce.

It may become an Iranian satelite oil producer state.

It can't get any worse.

My risk is miniscule.

—

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dinar

Submitted by rascal on Wed, 02/22/2012 - 19:19.

Yes, the dinar is a risky investment. So is the government controlled stock market.
Do not take out any loans for this. Buy only what you can afford to lose.
The naysayers and the rest of doubters can go ask George Soros where he made his billions, Remember, Kuwait when they revalued their currency. The elitists made billions including George.

—

doctorno69

Risky From What I've Heard

Submitted by Fed-Up on Wed, 02/22/2012 - 22:38.

And this was from a reliable source.

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Fed-Up

If you had a couple hundred

Submitted by sambo722rt on Wed, 02/22/2012 - 17:03.

If you had a couple hundred bucks to blow I would say go ahead. It's a very high risk investment. To take out a loan for dinars is very dumb.

I watched so many of my

Submitted by Stray on Wed, 02/22/2012 - 17:02.

I watched so many of my fellow troops grab those Dinars up when we were over there. 10 years later and it's still garbage. And to take out a LOAN to purchase some is just a HORRIBLE idea. Silver would be a better route.

Scam

Submitted by carpavel on Wed, 02/22/2012 - 15:54.

.

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My daughter-in-law

Submitted by wolfangel on Wed, 02/22/2012 - 15:52.

bought a couple thousand worth and said it would turn into a million dollars when the Dinars "reset"at the end of last year.She is still waiting.I bought silver.

hate to hear that wolf

Submitted by ruckmanite on Wed, 02/22/2012 - 19:31.

.

—

"We must re-take the Republican Party"-Ron Paul. http://www.youtube.com/watch?v=NlqXq8YxQFQ

Take the money

Submitted by Archie Mudd on Wed, 02/22/2012 - 15:51.

you were going to put into Dinars to Vegas. Head on over to the roulette wheel and pick a number. Any single number pays 35 to 1. Or you could gamble on the Dinar, but the odds are better in Vegas

—

When small men cast great shadows, the hour is late.
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Some dude sold my dad some of these dinars.

Submitted by RonPaulio on Wed, 02/22/2012 - 15:37.

Complete scam. Stay away from it and laugh in someone's face if they ask you to buy some.

—

"A living Constitution is a dead one" -Ron Paul

YES and no

Submitted by Expat but still... on Wed, 02/22/2012 - 15:13.

For a grand or 2 of DISPOSABLE MONEY, bang for the buck for POSSIBILITY of a revaluation to even .10 cents would net you a nice prize. Do I think it will happen probably not. Either way, its not USD's so I am happy to hold onto anything but that rubbish. Getting a LOAN for it is stupid.

This Idea came around due to the Kuwaiti Dinar, after it was printed after the liberation, people who bought it when it was cheap, MADE OUT BIG TIME. So the Dinar pushers have the same hope.

Honestly, I would stick to silver. Atleast that is moving;)

—

Freedom may be worth searching for.

Remember, Dont battle the govt with guns(ALONE), Beat them in court, in state legislature, or hire Ron Paul for president.

I have all the info you could need on the Dinar.

Submitted by FromFreedomToFascism on Wed, 02/22/2012 - 14:57.

It is a complete scam. The people who invest are told that a magical "Revaluation" will occur, in which each dinar will be worth $1. However, what will actually happen, is due to hyperinflation, the dinar will be "lopped". Three 0's will be taken off - 25,000 dinar will equal 25 new dinar. That is the most basic explanation. But no, do not buy any. And advise your friend to NOT take out a loan for that "investment". It is not an investment. I can give more info if you want.

This scam has gone on every week for over 6 years now; by the way.

Thanks,

Submitted by HuskerSkier on Wed, 02/22/2012 - 15:25.

I would like more info - I've got a few friends that are going crazy over this right now.

Silver

Submitted by Maximum Liberty 1776 on Wed, 02/22/2012 - 14:43.

Gold and Silver, particularly silver would be a much better idea I think.

I traded in the foreign currency market for a few years and have become a skeptic. I won some and lost some, but wasn't my cup of tea.

The Dinar may be different, I'm not sure, but the entire Iraq thing I think is a globalist hoax just like our 401k's and markets. It's all rigged against you.

—

Maximum Liberty, Minimum Government

Dinar

Submitted by sashasessums on Wed, 02/22/2012 - 14:03.

In my opinion it is a total scam. I have a friend who has been buying them for years, and anxiously awaiting the conversion for years, as well as trying to convince others that it is a solid investment. If you look it up, you will see years worth of comments from other "investors" saying "today is the day it's supposed to happen" and on and on and on. It seems that the day was supposed to have come many times but it never seems to pan out. Buy some precious metals instead. At least you can sell silver and gold without having to find another sucker buyer to unload it on. The guy that sells these to the investors says he will buy them back from you but I doubt it would be that easy to get all your original money back.

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Sasha Sessums

Thanks Sasha

Submitted by HuskerSkier on Wed, 02/22/2012 - 14:31.

I guess that is my gut feeling as well. The value has increased modestly over the past 5 years, however if could be fueled by speculation. Plus it's fiat, so has no intrinsic value. Thanks for the thoughts.

Bump

Submitted by TJV123 on Wed, 02/22/2012 - 13:03.

I would like to hear someone who has knowledge on this topic.

You should pose this question to:

Submitted by Slipmatwax on Wed, 02/22/2012 - 12:58.

Peter Schiffs website or facebook page

—

Preparation through education is less costly than learning through tragedy

thanks,

Submitted by HuskerSkier on Wed, 02/22/2012 - 13:04.

That is a great Idea, I will right now.