3 votes

Is there such a thing as a non-scam Iraqi dinar investment?

I haven't really closely followed the whole Iraqi Dinar craze. So I have a sincere question about it.

A lot of people I know and respect think anything "Dinar" is pure bunk and no one should buy it ever.

Still, I get the argument - that the country will become more prosperous, it might be revalued post-war, and as the economy goes, so should the currency, over time. One site claimed a 43% appreciation in the Dinar since 2003.

Now clearly there are a lot of scam artists in this area. The guys who promise insane revaluations are going to happen any day now, for years on end, with recycled excuses when it doesn't happen. Now I KNOW those guys are fakes, that's just common sense and logic.

But is there a legitimate, non-crazy reason to invest + buy Dinar currency?

Thanks in advance for any opinions.




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I remember being a member of

I remember being a member of "The Greatest Business on Earth" by Ken Roberts. http://www.gbemembers.com/index.php

He was telling people to keep buying silver options because silver was trading for a few dollars per ounce. People were b-i-t-c-h-i-n-g and moaning that silver was never going up...

I remember him saying that an ounce of silver couldn't stay the same as a Quarter Pounder forever.

What's the case for the dinar

What's the case for the dinar strengthening vs the dollar? Is there a free market revolution happening in Iraq that hasn't made the news? Are their govt leaders suddenly reading Friedman and Rothbard? Is Babylon being rebuilt?

Only thing I've heard from Iraq recently is the same old same old - suicide bombings.

Seems to me the best investments in Iraq, if somebody's determined to throw their money away, would be hospitals and funeral homes.

Never trouble trouble til trouble troubles you. Fortune Cookie

Think of it this way.

I'm a white guy.

Occasionally I talk to non-white people.

I better have a damned good reason to be there otherwise I'll get my ass kicked.

Get it?

(edit) What I mean is, even if you are not racist, and have the best of intentions buying dinar...

There are people out there who HATE YOU and despise the fact you are buying their currency for the sake of profit.

You may not have done anything wrong, morally, in your heart of hearts,

But they will think you did,

And they may kill you, or

they may simply profit from you and hate you through wide teeth.

If you want to get rich quick I suggest forgetting about currencies and invest in my startup - FartJuice. All the good stuff that gets soaked out of beans, now available in a 10-ounce can.

I saw the best minds of my generation, destroyed by pandas starving hysterical naked

-Allen Ginsberg

uh ok

sure, whatever

"Two things are infinite: the universe and human stupidity; and I'm not sure about the the universe."-- Albert Einstein

ho

Well...

The way "we" are printing dollars, the Dinar should catch up pretty soon! ;-) Just play it like betting "00" in Roulette.

Get rich quick schemes seldom

Get rich quick schemes seldom enrich noobs (and I'd also cast myself in that role).

Unless you really know what you're doing, prepare to get rooked.

I also have 20 million Vietnamese Dong

VND

And I have 500 Trillion Zimbabwe Dollars.

I would settle for a one US penny move.

not sure what their trading rate is

to the dollar but a one penny move in the Zimbabwe dollar might be enormous based on its recent past

"Two things are infinite: the universe and human stupidity; and I'm not sure about the the universe."-- Albert Einstein

is this a real clip off his show?

or is it a paid time-buy video clip?

Sometimes it is hard to tell. And if it is real - why does it matter that this cute chick bought some, and why does it matter that Kramer vaguely touts it while standing there with his sleeves rolled up?

I'm just saying this video is all fluff and little substance, whatever it is.

"Two things are infinite: the universe and human stupidity; and I'm not sure about the the universe."-- Albert Einstein

I have over 15 million IQD and it won't take much of a move to

make plenty of profit.

IMF holds sanctions over Iraq they can't get out of chapter 7 till they revalue their currency or reinstate the value of their currency. Before the war one Iraqi Dinar was valued at $3.22 once the war started it plummeted to $1 to 1700 dinars and leveled off at 1166 for the past few years. That makes the dinar worth about one tenth of a cent. If the value of the Dinar went to 1:1 that would be a huge increase, but if it went back to pre-war values of over $3 to 1 Dinar that would be Gigantic!

Michael Nystrom's picture

I think there are

But I think that we're not in that club.


http://youtu.be/i5dBZDSSky0

- - - -

But - it is a good question. Maybe someone here knows something about this.

All art is only done by the individual. The individual is all you ever have, and all schools only serve to classify their members as failures. E.H.

Carlin is awesome

and very wise too!

"Two things are infinite: the universe and human stupidity; and I'm not sure about the the universe."-- Albert Einstein

I don't know either.

It seems like a scam to me, but I haven't spent much time on it.

I do wonder though if some of the dinar's value is being supported by this "craze" that some people are buying into...