Buying the Dinar.

[sikwhiskey]

Anyone out there buying any Dinars? Been looking into it, can't decide if it is a scam or a realy good investment. Anyone on here buy a few million Dinars in hopes that the Iraqi currency will recover to were it once was?

[CaberTosser]

The Dinar might appreciate to a healthy value once your unborn great great great grandchildren die of old age............


Keep your money where you can better monitor it.

[fordtruckin]

When I was in Iraq alot of soldiers were buying it up left and right thinking the same thing. Only problem is there is so much counterfit and old Iraqi currency that to me it wasn't worth it. The only thing was just a few bills or coins here and there for souvenirs. Kuwait Dinar on the other hand...

[Twisted Canuck]

I have an uncle who has been buying into it heavily, and tried to get me involved...I looked into it and all I can say is...SCAM!!!! Run far far away. Look into it online, read everything you can. Anything positive you read comes from the creeps who are trying to sell at 2x current exchange values, it is all a complete fabrication designed to part you with you hard earned dollars. Don't do it. Please. Just my opinion mind you, do what you want with your money. But this scam has been around since at least 2004, if not sooner.

[Redfrog]

Are you guys talking about those pita like things?/ Oh nevermind those are Donairs. MY bad.:thinking-006:

[TreeGuy]

Are you guys talking about those pita like things?/ Oh nevermind those are Donairs. MY bad.:thinking-006:

Hmmmm. No wonder I'm broke. We invested heavily in fajitias after our financial advisor/gardener 'Manuel' spoke highly of hedging. Shouldda saw through it right away since we don't have a hedge. :(

[Okotokian]

Well, think about it. What will fuel a big demand for Dinars? The US probably buys Dinars to spend in Iraq on all the local employees and progams and building. That's going to decrease as they continue to withdraw. Are you gambling that an Iraqi government might some how unite the country and pull off an economic miracle like Post-WWII Japan in the next couple years? I'd sugest you just take your money to Las Vegas. Better odds.

[Erik]

Hmmmm. No wonder I'm broke. We invested heavily in fajitias after our financial advisor/gardener 'Manuel' spoke highly of hedging. Shouldda saw through it right away since we don't have a hedge. :(

Haha!

Great joke!

[Ryry4]

If it were me, I'd put my money in gold and silver. Especially silver.

[sikwhiskey]

Well, think about it. What will fuel a big demand for Dinars? The US probably buys Dinars to spend in Iraq on all the local employees and progams and building. That's going to decrease as they continue to withdraw. Are you gambling that an Iraqi government might some how unite the country and pull off an economic miracle like Post-WWII Japan in the next couple years? I'd sugest you just take your money to Las Vegas. Better odds.

Iraq has the largest Oil supply in the world. International Sanctions are already being lifted. There just happens to be Chaos in Libya, Oil prices are at an all time high, with the US still occupying Iraq ( largest untouched oil reserve in the world). Iraq can produce a barrel of light sweet crude for $1.00, the US and Canada produce that same Barrel for $11-$15.00. Any half brained Govt in Iraq could make post war Japan look like a small piggy bank. The Dinar is also set to be Globally traded, just like the green back, this year.
Its very interesting, don't know if I will buy any. Then again I might. $1180 canadian dollars buys 1,000,000 Dinars. If the Dinar gains even a fraction you stand to make some serious cash. Hell Last months Diesel bill for me was $6,000, I'll stay home for a week during break up, that will cover the investment.:thinking-006:

[Okotokian]

$1180 canadian dollars buys 1,000,000 Dinars. If the Dinar gains even a fraction you stand to make some serious cash.

Not sure how you figure that. If the Dinar goes up a fraction you will make a fraction. If it goes up by 5% against the Cdn dollar you will make 5%.

But not sure if and when you will see any increases. The currency is pegged against the US dollar, not floating.

Iraq has the second largest reserves, not the largest. But Canada has the third largest, so you might as well hold Canadian Dollars for the same reasons you give for Iraq. ;)

[SonnyJ]

If it were me, I'd put my money in gold and silver. Especially silver.


10-4 on the silver..

[Twisted Canuck]

Its very interesting, don't know if I will buy any. Then again I might. $1180 canadian dollars buys 1,000,000 Dinars.

See, that's the first problem I have with the whole deal, and what I told my uncle was the first sign of the scam. At todays rate, $1180 CDN should buy you 40% more than you mentioned..

1,180.00 CAD = 1,422,012.57 IQD
Canadian Dollar Iraqi Dinar
1 CAD = 1,205.10 IQD 1 IQD = 0.000829810 CAD

The only people getting rich are the creeps selling this paper, and apparently a good deal of what they are selling is fake anyway. Can you tell the difference between the real stuff and fake? I doubt it.....

[sikwhiskey]

Not sure how you figure that. If the Dinar goes up a fraction you will make a fraction. If it goes up by 5% against the Cdn dollar you will make 5%.

But not sure if and when you will see any increases. The currency is pegged against the US dollar, not floating.

Iraq has the second largest reserves, not the largest. But Canada has the third largest, so you might as well hold Canadian Dollars for the same reasons you give for Iraq. ;)

I was thinking scam too! But who knows. Iraq was thought to be the second largest reserve, now it is Number one, untapped reserves never explored under Saddam ,are, all of sudden comming to light:thinking-006:. . All of their facilities are from the 1970's, with todays technology, ( and under American control) it is now estimated to be the largest. Canada's Oil, for the most part, has to be exctracted from the earth, hence the $15 a barrel cost. Iraqs Oil flows from the sand, very little processing, No pumping/heating, API of 40 ( little to no paraffins, No H2S) $1.00/brl. Iraqi oil can be used for fuel, as is, in some Diesel engines.
If Iraq started producing to its full potential, Oil would fall back below $20 a barrel. Its hard to say what is going to happen in Iraq. The US of A will want to be reimbursed for the 90 Billion it spent to free the People, of course. China, Russia and Europe are all eager get there hands on Iraqs crude.
Still on the fence about the Dinar.

[sikwhiskey]

See, that's the first problem I have with the whole deal, and what I told my uncle was the first sign of the scam. At todays rate, $1180 CDN should buy you 40% more than you mentioned..

1,180.00 CAD = 1,422,012.57 IQD
Canadian Dollar Iraqi Dinar
1 CAD = 1,205.10 IQD 1 IQD = 0.000829810 CAD

The only people getting rich are the creeps selling this paper, and apparently a good deal of what they are selling is fake anyway. Can you tell the difference between the real stuff and fake? I doubt it.....

Yep I figured this too. A well thought out scam, that could potentialy make you rich! Kind of like the lottery. Ya never know when you could hit it big:sHa_shakeshout: