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This was something of a topic after the initial invasion betting on a new prosperous oil rich country emerging after the nation building exercise. The fact is that only a brutal SOB like Saddam could hold it together. The president says we accomplished enough in establishing a new Iraqi society that we can pull our "combat" troops out leaving 50K to help out.
What would a Dinar be worth if the U.S. leaves prematurely and the country collapses into an Iranian fueled civil war between Sunnis, Shiites and Kurds? With the American economy in such a dire condition it is not politically popular to spending billions to help other societies at the expense of our own. Do you trust Washington?
I bought some Iraqi Dinar years ago. I recently sold it on ebay made maybe $150 or so off the million I bought and sold.
Some people think they are going to be millionaires in the long run. There may be a very small shot of that but honestly nobody will buy it from you so it will be hard to sell and the other problem you run into is that oftentimes what happens is a country will issue no currency and your old stuff will lose value
For example in 1996 Mexico came out with a new currency. It now takes 1000 of the pre 1996 pesos to equal one of the new pesos so even if you had 100,000 before its now only 100 pesos. Same thing will likely happen with the dinar.
If you want to be a currency trader do it on forex, you pay too high markups buying actual cash currency.
If you are interested in this type of stuff the new hot currency is Vietnam Dong since they just were admitted into the WTO. I was selling Vietnamese Dong on ebay for a while in million dollar bundles.
Invest in it!! It is common sense. When a country has the #1 natural gas reserves and the #3 oil reserves in the world, how do you think that it will be traded on the world market? Part of stabilizing any economy is to first stablize the currency.
You can get 100,000 dinar for 35.00 (.12) at worst if it goes up .50 you will still make a pretty penny. Hell, who would'nt take a chance for 35.00
I bought some Iraqi Dinar years ago. I recently sold it on ebay made maybe $150 or so off the million I bought and sold.
Some people think they are going to be millionaires in the long run. There may be a very small shot of that but honestly nobody will buy it from you so it will be hard to sell and the other problem you run into is that oftentimes what happens is a country will issue no currency and your old stuff will lose value
For example in 1996 Mexico came out with a new currency. It now takes 1000 of the pre 1996 pesos to equal one of the new pesos so even if you had 100,000 before its now only 100 pesos. Same thing will likely happen with the dinar.
If you want to be a currency trader do it on forex, you pay too high markups buying actual cash currency.
If you are interested in this type of stuff the new hot currency is Vietnam Dong since they just were admitted into the WTO. I was selling Vietnamese Dong on ebay for a while in million dollar bundles.
You should have held on to it. you may be right regarding the dong
You should have held on to it. you may be right regarding the dong
I'm still holding some Dinar and I think money can be made but these people who think they are going to make 3-4 million dollars off an $800 investment are crazy in my opinion.
A couple things. First off most people buying from online sites or ebay or even currency brokers are often paying $300 above spot price for 1,000,000 which is only about a grand worth of money, that's a huge markup.
A couple other issues. You've heard if it's too good to be true it probably is right. Doesn't it seem too good to be true that an $800 investment turns into a $3,000,000 payout?
Another issue is people compare Iraq to Kuwait and what happenned to the Kuwaiti money. Kuwait had a stable government in the past which Iraq hasn't really had. Kuwait also has some agriculture, I believe they are a huge producer of dates and a few other fruits, Iraq doesn't have any agriculture business though they do have oil. Kuwait also had a lot of money in foreign investments which Iraq doesn't have.
Finally back to the too good to be true aspect. Iraq is a poor country but there average income is a couple thousand meaning a even a poorer family probably has a few thousand dollars in savings. If this were to happen all these "poor people" in Iraq would also become overnight millionaires with you. Doesn't it seem odd that overnight every poor person in Iraq could become a millionaire?
I'm in the fx business and even I dont understand all the complexities of currency markets but another thing is the economy of a country has to be in relation to the currency value. Iraq does have a lot of oil wealth but nothing else, no infrastructure, no stable government, plus they are a few years out from really producing that oil at a rate that would be necessary to raise their currencies value.
One more tip buy notes under 25k notes, I hear they are going to revalue soon not necessarily meaning the money will be worth taht much more but they are going to try to get teh larger notes out of circulation.
The funny thing is for about 5 years people have been saying revalue is comming tomorrow, I hear it from people all the time so it's been getting old hearing it's happening tomorrow on a daily basis for the past 5 years.
I'm still holding some Dinar and I think money can be made but these people who think they are going to make 3-4 million dollars off an $800 investment are crazy in my opinion.
A couple things. First off most people buying from online sites or ebay or even currency brokers are often paying $300 above spot price for 1,000,000 which is only about a grand worth of money, that's a huge markup.
A couple other issues. You've heard if it's too good to be true it probably is right. Doesn't it seem too good to be true that an $800 investment turns into a $3,000,000 payout?
Another issue is people compare Iraq to Kuwait and what happenned to the Kuwaiti money. Kuwait had a stable government in the past which Iraq hasn't really had. Kuwait also has some agriculture, I believe they are a huge producer of dates and a few other fruits, Iraq doesn't have any agriculture business though they do have oil. Kuwait also had a lot of money in foreign investments which Iraq doesn't have.
Finally back to the too good to be true aspect. Iraq is a poor country but there average income is a couple thousand meaning a even a poorer family probably has a few thousand dollars in savings. If this were to happen all these "poor people" in Iraq would also become overnight millionaires with you. Doesn't it seem odd that overnight every poor person in Iraq could become a millionaire?
I'm in the fx business and even I dont understand all the complexities of currency markets but another thing is the economy of a country has to be in relation to the currency value. Iraq does have a lot of oil wealth but nothing else, no infrastructure, no stable government, plus they are a few years out from really producing that oil at a rate that would be necessary to raise their currencies value.
One more tip buy notes under 25k notes, I hear they are going to revalue soon not necessarily meaning the money will be worth taht much more but they are going to try to get teh larger notes out of circulation.
The funny thing is for about 5 years people have been saying revalue is comming tomorrow, I hear it from people all the time so it's been getting old hearing it's happening tomorrow on a daily basis for the past 5 years.
The best arguement that I have for you at this time is "We will see by next friday" The treasury will be opened on the 16th which is a sat.
I will return on friday and post what I know then
The best arguement that I have for you at this time is "We will see by next friday" The treasury will be opened on the 16th which is a sat.
I will return on friday and post what I know then
Saying we will see by Friday is not an argument for anything? I've been hearing from my customers the rv is comming tomorrow for the past 5 years. We'll see.
Saying we will see by Friday is not an argument for anything? I've been hearing from my customers the rv is comming tomorrow for the past 5 years. We'll see.
That may be true, but alot has changed since the 30th of June.
Companies have began drilling in Iraq
Countries are getting paid for their past loans to Iraq
The old currency with Sadam's face has been recalled and traded for the new currency
Besides if you can get 100,000 dinar for under 150.00 whats the worst that can happen besides losing 150.00? If it is going for about .11 cents there is a good chance that it will at least go up to .30 and I wil still make a few dollars which would be more than I invested
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