Iraqi Dinar Speculation (1 Viewer)

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Krewe of Clyde's

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My brother lives in the Florida panhandle which is home to numerous military installations. In fact, his back property line is the Hulbert Field fence. Hulbert Field is home to most all of the Air Force Special Ops as well as some others that do cross-training there. My brother is a firefighter and they do a lot of training with the fire departments on the bases. About 5-6 years ago, some of those guys got to talking about buying up Iraqi Dinars which were about to be re-issued by the new Iraqi government. The short version of the story is that we all bought some. You could get a million Iraqi Dinars for around a thousand U.S. dollars. I figured if nothing else, we could impersonate a bunch of shieks and take over a strip joint one night with those 25,000 Dinar notes.:smileypimp: (that is the only denomination we got) I doubt many strippers keep up with currency values.

That venture has been pretty much dormant since then. However, there has been a spurt of news and speculation about what is about to happen in the last couple of weeks as the Iraqi elections approach. It seems that the U.N. might lift the remaining sanctions after the elections and that would send the value of the Dinars skyrocketing. A family friend of ours who is pretty high up in Chase Manhattan threw out a figure of eight-six cents per Dinar. If they go up to anything close to that, a bunch of us are going to be in the money. :9:

So, my questions are: : Did anyone here take a chance on these Dinars and Have you heard anything about this situation beyond what I mentioned?
 
Might be hard to find them. I bought them in Iraq. They have a picture of Saddam on one side.
 
i once sold some people in Florida a bunch of fake Dinars

i made a few bucks...they seemed happy
 
Krewe of Clyde's said:
My brother lives in the Florida panhandle which is home to numerous military installations. In fact, his back property line is the Hulbert Field fence. Hulbert Field is home to most all of the Air Force Special Ops as well as some others that do cross-training there. My brother is a firefighter and they do a lot of training with the fire departments on the bases. About 5-6 years ago, some of those guys got to talking about buying up Iraqi Dinars which were about to be re-issued by the new Iraqi government. The short version of the story is that we all bought some. You could get a million Iraqi Dinars for around a thousand U.S. dollars. I figured if nothing else, we could impersonate a bunch of shieks and take over a strip joint one night with those 25,000 Dinar notes.:smileypimp: (that is the only denomination we got) I doubt many strippers keep up with currency values.

That venture has been pretty much dormant since then. However, there has been a spurt of news and speculation about what is about to happen in the last couple of weeks as the Iraqi elections approach. It seems that the U.N. might lift the remaining sanctions after the elections and that would send the value of the Dinars skyrocketing. A family friend of ours who is pretty high up in Chase Manhattan threw out a figure of eight-six cents per Dinar. If they go up to anything close to that, a bunch of us are going to be in the money. :9:

So, my questions are: : Did anyone here take a chance on these Dinars and Have you heard anything about this situation beyond what I mentioned?
Click to expand...

so the current exchange rate is like .000009 dinars for every dollar and your friend is speculating once the sanctions are lifted the Dinar will appreciate in value to .86 for every dollar?

I cant even calculate the appreciation percentage on my calcualtor!


The new Iraqi Dinar is now being claimed to be the hottest investment opportunity. So called ‘dealers’ are all over the internet selling the new Iraqi Dinar. For most of the ‘dealers’ or scammers the fact assisting them in their illegal trade is the exchange rate of the USD and the new Iraqi Dinar. The present exchange rate is $1.00 USD will buy anyone approximately 1475 new Iraqi Dinars.
This exchange rate was quite the opposite during the Saddam regime, when $1.00 USD would be able to buy just 0.33 Iraqi Dinar.
Comparing both the scenarios would imply that in the present situation buying the Iraqi Dinar would be a great investment opportunity. But scrutinizing the facts would reveal the true picture behind the Iraqi Dinar scam.
Fact 1: Once you have bought the Iraqi Dinar, it will almost impossible to trade the Iraqi Dinar back into any other form of currency. The fact is that the Iraqi Dinar cannot and is not freely traded on the world market.
Fact 2: It is also worth mentioning here that it is the new Iraqi Dinar which is now the official currency of Iraq. Earlier the old Iraqi Dinar was in circulation. There have been cases wherein scammers have actually sold the old Iraqi Dinar to their victims. Since even the new Iraqi Dinar cannot be traded freely on the world market, the old Iraqi Dinar will only find its buyer in the form of a collector of old currency.
Fact 3: Although Iraq is the second richest nations in terms of oil reserves, this natural resource will not help in supporting the ‘investment opportunity’ provided in the form of buying the new Iraqi Dinar. Whenever anyone is buying the currency of a country, one is investing in the entire economy of that particular country. Hence, this implies that if one buys the Iraqi Dinar, one is essentially investing in the economy of Iraq. And any economy totally dependent on its oil reserves is a unstable economy in itself.
Based on the above mentioned facts, if one still desires to invest their money in the Iraqi Dinar scam, please note that this would mean locking up that amount of money until the exchange rate of USD in comparison to the new Iraqi Dinar changes, and there is no hope this will happen in the next 4-5 years.


From the Nasdaq site- http://www.learningmarkets.com/Forex/200911031921/the-iraqi-dinar-scam-part-one.html
 
Last edited:
efil4stnias said:
Fact 1: Once you have bought the Iraqi Dinar, it will almost impossible to trade the Iraqi Dinar back into any other form of currency. The fact is that the Iraqi Dinar cannot and is not freely traded on the world market.
Fact 2: It is also worth mentioning here that it is the new Iraqi Dinar which is now the official currency of Iraq. Earlier the old Iraqi Dinar was in circulation. There have been cases wherein scammers have actually sold the old Iraqi Dinar to their victims. Since even the new Iraqi Dinar cannot be traded freely on the world market, the old Iraqi Dinar will only find its buyer in the form of a collector of old currency.
Fact 3: Although Iraq is the second richest nations in terms of oil reserves, this natural resource will not help in supporting the ‘investment opportunity’ provided in the form of buying the new Iraqi Dinar. Whenever anyone is buying the currency of a country, one is investing in the entire economy of that particular country. Hence, this implies that if one buys the Iraqi Dinar, one is essentially investing in the economy of Iraq. And any economy totally dependent on its oil reserves is a unstable economy in itself.
Based on the above mentioned facts, if one still desires to invest their money in the Iraqi Dinar scam, please note that this would mean locking up that amount of money until the exchange rate of USD in comparison to the new Iraqi Dinar changes, and there is no hope this will happen in the next 4-5 years.


From the Nasdaq site- http://www.learningmarkets.com/Forex/200911031921/the-iraqi-dinar-scam-part-one.html
Click to expand...

Thanks for the info. It is useful and appreciated. I hope you can clear up a couple of new questions that info gave me. We all knew what a gamble this was in the first place but I have been a gambler all my life and this one would have paid off exponentially better than any blackjack or poker game I have ever played if it did pan out. So I welcome any information available.

From fact 1. From the get-go, it has been my understanding that not being able to freely trade Dinars would be the case until the U.N. lifted all sanctions. There are indications that the sanctions might be lifted after this next round of elections. Any news on that?

From fact 2. The Dinars we have are post-Saddam. These are used as the current currency so I don't see any problem there. Do you concur?

From fact 3. This is pretty much how we figured things too. Did you notice the date this article was written? I clicked on the link but the filters here at work won't let me go to the site. We anticipated things taking a while to develop and have been sitting on these Dinars for several years now.

Thanks again for the helpful info.
 
I bought 2.5 million worth of Iraqi Dinar for only 600 dollars when I was in Iraq. I look at countries like Kuwait with a basic dollar ratio of 3 American dollars to 1 Kuwait dinar. I think we are all hoping one day that this will be the same ratio with Iraqi currency. I’m not greedy, but Ill cash in once it hits 10 cents. My whole goal at the time was to just pay off my house; now I need to find out how to cash in without paying taxes on my good idea. 25,000 dollar increments here too
 
Krewe of Clyde's said:
Thanks for the info. It is useful and appreciated. I hope you can clear up a couple of new questions that info gave me. We all knew what a gamble this was in the first place but I have been a gambler all my life and this one would have paid off exponentially better than any blackjack or poker game I have ever played if it did pan out. So I welcome any information available.

From fact 1. From the get-go, it has been my understanding that not being able to freely trade Dinars would be the case until the U.N. lifted all sanctions. There are indications that the sanctions might be lifted after this next round of elections. Any news on that?

From fact 2. The Dinars we have are post-Saddam. These are used as the current currency so I don't see any problem there. Do you concur?

From fact 3. This is pretty much how we figured things too. Did you notice the date this article was written? I clicked on the link but the filters here at work won't let me go to the site. We anticipated things taking a while to develop and have been sitting on these Dinars for several years now.

Thanks again for the helpful info.
Click to expand...

from Fact 1- freely "trading" Dinars is one thing, having a set "exchange rate" is another. Just lifting the sanctions will not ( from what I know ) create an "exchange rate" for the Dinar. The current exchange rate is like .00086 - what the speculation is about is "redenomination" - so if you have a IQD 25,000 note, and they redenominate to make that note 25 IQD then the exchange rate must move from .0086 to .86. The speculative part is that now the rate will eventually climb.

So if you hold 1,000,000 in IQD 25,000 notes and they redenominate this way, you will now hold 1,000 in 25 IQD notes. But the valuation is still the same. Now you wait for the exchange rate to climb. So many variables in this.

Fact 2 - sure...so long as during the redenomination, they do not re-issue hard currency again. If so, then just like the other poster who had the Dinar with Saddams face, it will be worth only the paper its printed on. The other issue is how do you "exchange" your Dinar for US dollars? You can't go to the open market, well, because there is no market to trade Iraqi Dinars for US Dollars. ( well you can use these guys and end up losing even if you see a 10% increase -http://www.exchangeyourdinar.com/exchange-iraqi-dinar-info.html )

Fact 3- the word now is sometime after the elections on March 7 - as for when that article was written- it doesnt say. But it references 2008 in the past so it has to be 2009.

I hope everything works out. I know alot of young servicemen who have purchased the Dinar. Spent alot of thier HARD EARNED MONEY to do so. I am just a bit skeptical when my personal financial advisor and other friends who are avid investors, scoff at this investment opportunity.

Now, if our Congressmen and other higer ups start buying, then you are on to something. :ezbill:
 
Sounds like a pure speculation play to me. I haven't seen one good reason why the Dinar might go up. All I've seen is that it's got a long way to go if it does go up. There's a ton of penny stocks that have the same possibility.
 

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