Any Iraqi Dinar Speculators?

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  • Ordo
    Confirmed User
    • Apr 2004
    • 1186
    #1

    Any Iraqi Dinar Speculators?

    I bought 500,000 Dinar a few years ago and still nothing has happened. New studies are showing they are going to lop 3 zeros and make 1 Dinar = $1. If that happens, not much of a return on investment. Looks like even IF that were to happen it will be another couple years.

    Any thoughts?
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    • L-Pink
      working on my tan
      • Mar 2005
      • 39151
      #2
      Very interesting gamble on your part, good luck.

      .

        Comment

        • Si
          Such Fun!
          • Feb 2008
          • 13900
          #3
          I bought a small amount, about 50,000. Looks like a waste of money which I thought at the time of buying them. Was merely a small gamble which doesn't look like paying off.

          Even if they knock the 0's off, it will probably result in new notes. Which you will need to exchange your dinar for most probably. Then it will probably still be worthless.

            Comment

            • seeandsee
              Check SIG!
              • Mar 2006
              • 50945
              #4
              how much $$$ you invested in iraq dinars?
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                Comment

                • mafia_man
                  Confirmed User
                  • Jul 2005
                  • 1965
                  #5
                  Didn't XE debunk the Dinar scam?

                  If they're re-denominated won't you have to send your notes to Iraq? If so, good luck!
                  I'm out.

                    Comment

                    • Si
                      Such Fun!
                      • Feb 2008
                      • 13900
                      #6
                      Originally posted by mafia_man
                      Didn't XE debunk the Dinar scam?

                      If they're re-denominated won't you have to send your notes to Iraq? If so, good luck!
                      Pretty much what I read.

                      You might have 25,000 / 50,000 notes. But they will get knocked down to 25 and 50 bills.

                      People with the 25,000, 50,000 etc notes will have to swap them for the newer fewer 000 notes.

                      Meaning, you gain 0 and they are still worth the same.

                      They're not going to knock 3 0's off the amount and let everyone keep their larger bills making them rich overnight.

                        Comment

                        • Si
                          Such Fun!
                          • Feb 2008
                          • 13900
                          #7
                          The removing of 0's from the currency is the worst news any Dinar investor could have heard.

                          The whole point of the Dinar investment was a prediction/guesstimate that the currency would quickly gain strength and drop from about $1 being worth 4000 to a much lower number over a small period.

                          I.E. You buy 50,000 when it was worth about $1=4000 meaning you spent about $12.50. the exchange rate grows and gets a lot stronger you get as close to parity as possible. Even $1=100 Dinar would have been a huge profit turning your $12.50 into about $500. If got to about 10 you could be sitting on $5000 etc.

                          Just using 4000 as a suggestion on what the dinar is worth, haven't checked it for a while.

                          Can't remember the term off the top of my head. But removing 000's is bad news for Dinar buyers.

                          The only thing that might work is changing the notes up for the newer ones and sitting on them again and seeing where it goes.

                            Comment

                            • _Richard_
                              Too lazy to set a custom title
                              • Oct 2006
                              • 30991
                              #8
                              remember thinking it as a cool idea and seeing some sort of dinar devaluation

                                Comment

                                • ~Ray
                                  visit hardlinks.org
                                  • Jun 2003
                                  • 18361
                                  #9
                                  the 250,000 I bought 6 months ago is up about $1

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                                    Comment

                                    • slapass
                                      Too lazy to set a custom title
                                      • Nov 2002
                                      • 14625
                                      #10
                                      Just saw this in a movie.

                                        Comment

                                        • mafia_man
                                          Confirmed User
                                          • Jul 2005
                                          • 1965
                                          #11
                                          http://www.forbes.com/sites/jayadkis...ar-scam-lives/
                                          I'm out.

                                            Comment

                                            • _Richard_
                                              Too lazy to set a custom title
                                              • Oct 2006
                                              • 30991
                                              #12
                                              Originally posted by mafia_man
                                              http://www.forbes.com/sites/jayadkis...ar-scam-lives/


                                              forbes really does have a hard on for the dinar

                                                Comment

                                                • adendreams
                                                  Confirmed User
                                                  • Jul 2009
                                                  • 1887
                                                  #13
                                                  Some very uneducated guesses in here about the Dinar.

                                                  Even if they knocked zeros off and made it 1 for 1 even value with the dollar - Iraq has massive wealth and even more massive potential wealth, very likely that it would zoom up quickly in relation to the Dollar.

                                                  Hint - hold on to your notes if you are lucky enough to have some
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                                                    Comment

                                                    • _Richard_
                                                      Too lazy to set a custom title
                                                      • Oct 2006
                                                      • 30991
                                                      #14
                                                      Originally posted by adendreams
                                                      Some very uneducated guesses in here about the Dinar.

                                                      Even if they knocked zeros off and made it 1 for 1 even value with the dollar - Iraq has massive wealth and even more massive potential wealth, very likely that it would zoom up quickly in relation to the Dollar.

                                                      Hint - hold on to your notes if you are lucky enough to have some
                                                      DINAR SCAMMERZ!

                                                      lol

                                                      the rate of the dinar in 92 is reason enough to buy

                                                        Comment

                                                        • mineistaken
                                                          See signature :)
                                                          • Apr 2007
                                                          • 29656
                                                          #15
                                                          Loping zeros usually does not mean anything, its just a symbolic thing. 1000=1, things that previously cost 1000 would cost 1 and thats about it

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