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View Full Version : The Iraqi Dinar = Huge $$$ investment?


Carlota69
06-24-2005, 01:18 PM
Since I'm trying to make my money work for me, a friend of mine turned me on to the idea of investing in the Iraqi dinar, which if you don't kow, is the countries currency.

See pre-war time and pre-sanction time, the iraqi Dinar was worth roughly $3.25 to our dollar, now it is worth.000825 (or soemthing like that) to our dollar. In the USA money section the other day, it was pointed out that the value of the surrounding middle eastern countries currency ranges from .27c to $3.25 to our dollar.

Back in October of 2003, America helped create the new Dinar, one without Saddam's nasty face on it. We printed the currency and put more safegaurds on it than our own dollar (more watermarks..etc..).

Iraq is one of the richest countries in terms of resources, oil and water in paticular. There are all kinds of meetings and plans to put all of Iraq's oil reserves together to make the second largest oil reserve in the world. This of course equla tons of cash for the country.

Another thing that is going on to help boost Iraq's economy is relieving the country of Saddam's debt. We of course have agreed to write it off, and so have other entities. There are still more countries who need to agree but they are in talks right now about that.

And Banks liike Bank Of America has said they would exchange the currency once it becomes exchangable, which could happen at any moment.

The bottom line to this thread is this--

Right now it is possible to purchase Dinar for very cheap and it is legal. There is a presidentail order saying that it is legal for US citizens to invest in Iraq. So, if it goes up in value, you have made alot of $$$ for very little $$$$. Right now it is roughly $800 for one million dinar. Now lets say in 3-5 years the Iraqi dinar goes to the lowest value in the region, .27c, that's 270k for $800. Now it is also possible that it could do nothing, which then you've lost $800. Well, I've spent $800 in a period of a couple of months on nothing. Why not take the risk?

Besides do you think Bush went over there to free the Iraqi women, or do you think there might be a financial reason for this war? I mean no offense to the Bush supporters, but the man's business has been in oil, longgg before he became president. He, and our country have wayyy to much invested not to make this country, meaning Iraq, financially viable.

If this interests you, search the Iraqi Dinar. You will find info on purchasing the dinar, but also look for Iraqi investors forum. There is all kinds of info there.

Everyone I've turned this investment idea on, has said that it seems like a very good investment. And again, $800? You could blow that on the stock market here in the states and get nowhere, (hell, some people blow that one night in the strip clubs) so why not try this?

Just thought I would share the info. :)

Ari Chi3fs
06-24-2005, 01:20 PM
I bought a million Iraqi Dinar for around $700 on ebay. I think it may turn out... or I may lose money....

Losing money seems to be the theme of the past couple weeks.

Ultra Peanut
06-24-2005, 01:32 PM
I like to buy spice in Nevis and sell it in St. Kitts.

Death Nebula
06-24-2005, 01:35 PM
I buy my spice int St. Martin and sell it in St. Maarten....

Brock
06-24-2005, 01:37 PM
Somebody will probably get rich. I wouldn't bet on it being the purchasers in this case. :shrug:

CanadianChief
06-24-2005, 01:41 PM
I bought a million Iraqi Dinar for around $700 on ebay. I think it may turn out... or I may lose money....

Losing money seems to be the theme of the past couple weeks.

Did you really invest in this? I've got a $500 that's burning a hole in my pocket and I'm not sure whether I should buy some swamp in Florida or invest in Sadam returning Iraq to it's glory days.

Carlota69
06-24-2005, 01:42 PM
Somebody will probably get rich. I wouldn't bet on it being the purchasers in this case. :shrug:

Which is possible, however I wouldn't be so dismissive without investigating the sitaution. This isn't a tomorrow investment. 3-5 maybe ten years down the road. Now thats probably the better reality.

Phobia
06-24-2005, 01:46 PM
Did you really invest in this? I've got a $500 that's burning a hole in my pocket and I'm not sure whether I should buy some swamp in Florida or invest in Sadam returning Iraq to it's glory days.

Since you're from Canada, I'm betting you buy the swampland in Florida.

Carlota69
06-24-2005, 01:47 PM
Did you really invest in this? I've got a $500 that's burning a hole in my pocket and I'm not sure whether I should buy some swamp in Florida or invest in Sadam returning Iraq to it's glory days.
LOL, this has nothing to do with Saddam returning to glory. Its about The US making a profit off of the situation down there. Do you really think oil companies, and very interested countries, are gonna let the second richest country (in resources) in the world do nothing and not be ecomically viable?

Before you become crass and dismissive you might want to investigate the possiblities. You know, maybe watch the news and read between the lines. Also, I may lose $800, but I also might make lots of money. A better bet than even the city I live in...

Brock
06-24-2005, 01:47 PM
Which is possible, however I wouldn't be so dismissive without investigating the sitaution. This isn't a tomorrow investment. 3-5 maybe ten years down the road. Now thats probably the better reality.

I'm not saying it's impossible. But I can tell you that when I went to Long Beach, CA a couple of weeks ago to the C-17 aircraft plant, they were giving out 5 dinar notes as souveniers. They weren't using them for toilet paper yet, but close.

beavis
06-24-2005, 01:49 PM
Which is possible, however I wouldn't be so dismissive without investigating the sitaution. This isn't a tomorrow investment. 3-5 maybe ten years down the road. Now thats probably the better reality.
You gotta ask yourself, why would somebody be selling these things if they are such a great investment? I bought a few a couple of months ago, but now I kinda wish I would have just saved my money. There's no guarantee that the dinar will ever be worth more than it is now. Currency like those in Turkey are similarly valued already. I wouldn't bet the farm on it, that's for sure.

BTW, your numbers above are a little off. Post-GWI, the dinar was worth about $.50, before that it was worth ~$1.

Ari Chi3fs
06-24-2005, 01:50 PM
well, the new currency is the one to invest in. It has numerous security features to prevent counterfeiting the money... many more features than the US Federal Reserve Notes have.

Yeah, I am a Dinar Millionaire.

beavis
06-24-2005, 01:52 PM
I'm not saying it's impossible. But I can tell you that when I went to Long Beach, CA a couple of weeks ago to the C-17 aircraft plant, they were giving out 5 dinar notes as souveniers. They weren't using them for toilet paper yet, but close.
They don't even make 5 dinar notes anymore. That had to be the old currency.

Carlota69
06-24-2005, 01:52 PM
You gotta ask yourself, why would somebody be selling these things if they are such a great investment? I bought a few a couple of months ago, but now I kinda wish I would have just saved my money. There's no guarantee that the dinar will ever be worth more than it is now. Currency like those in Turkey are similarly valued already. I wouldn't bet the farm on it, that's for sure.

BTW, your numbers above are a little off. Post-GWI, the dinar was worth about $.50, before that it was worth ~$1.

Turkey doesn't have any resources worth a crap except maybe a cup of coffee. as far as my numbers, even if you are right, as I said earlier even if, as The USA Toiday said, it goes to the lowest in the region, .27c, i've made $$ on $800. Like I've said, its abtter bet than even Vegas, just a longer wait time.

Carlota69
06-24-2005, 01:52 PM
They don't even make 5 dinar notes anymore. That had to be the old currency.

Excellent point.

Brock
06-24-2005, 01:54 PM
They don't even make 5 dinar notes anymore. That had to be the old currency.

Sorry, meant 50.

Iowanian
06-24-2005, 01:56 PM
Before you become crass and dismissive you might want to investigate the possiblities. You know, maybe watch the news and read between the lines. Also, I may lose $800, but I also might make lots of money. A better bet than even the city I live in...


I got a pretty similar speech from a guy who was going to make me rich selling Amway, and another who was going to make me rich selling EXCEL Phone cards, and anther who wanted me to buy some mutual funds and then sell them to others........

It might work........if nothing else, with a Million Pesanars you can have one heck of a game of Monopoly.

Carlota69
06-24-2005, 01:56 PM
Sorry, meant 50.
I dont believe they make those anymore either. I beleive, I could be wrong, they start at 5k, maybe 10k notes.

beavis
06-24-2005, 01:56 PM
Turkey doesn't have any resources worth a crap except maybe a cup of coffee. as far as my numbers, even if you are right, as I said earlier even if, as The USA Toiday said, it goes to the lowest in the region, .27c, i've made $$ on $800. Like I've said, its abtter bet than even Vegas, just a longer wait time.
Yeah, hell if it goes to .01 you've made over 1,000% on your investment. It's just extremely risky.

beavis
06-24-2005, 01:57 PM
I dont believe they make those anymore either. I beleive, I could be wrong, they start at 5k, maybe 10k notes.
Yeah, they do make 50, I just looked it up.

beavis
06-24-2005, 01:58 PM
It might work........if nothing else, with a Million Pesanars you can have one heck of a game of Monopoly.
Yeah... right now it's literally worth less than toilet paper.

Brock
06-24-2005, 01:59 PM
I don't think it's a horrible idea to spend a few hundred bucks on it. What the hey. It could pay off, I just have a feeling that this whole situation is pre-wired.

Carlota69
06-24-2005, 02:00 PM
I got a pretty similar speech from a guy who was going to make me rich selling Amway, and another who was going to make me rich selling EXCEL Phone cards, and anther who wanted me to buy some mutual funds and then sell them to others........

It might work........if nothing else, with a Million Pesanars you can have one heck of a game of Monopoly.
I have no $$ gain if you buy or not. I am not tied to any entity selling them. I'm just passing along a tip that may or may not work. Simple as that. Besides, if it dont work I'd prefer wallpaper. I dont play Monopoly.
;)

whoman69
06-24-2005, 02:03 PM
I heard a similar thing from the Iraqui stock market when it started. Most of the companies had nowhere to go but up, unless the economy takes a big crap.

beavis
06-24-2005, 02:03 PM
I don't think it's a horrible idea to spend a few hundred bucks on it. What the hey. It could pay off, I just have a feeling that this whole situation is pre-wired.
I'm certainly not going to be spending next weeks on it. It's pretty much a lottery ticket type investment. Anyone who tells you differently is probably selling dinars.

Carlota69
06-24-2005, 02:04 PM
You gotta ask yourself, why would somebody be selling these things if they are such a great investment? I bought a few a couple of months ago, but now I kinda wish I would have just saved my money. There's no guarantee that the dinar will ever be worth more than it is now. Currency like those in Turkey are similarly valued already. I wouldn't bet the farm on it, that's for sure.

BTW, your numbers above are a little off. Post-GWI, the dinar was worth about $.50, before that it was worth ~$1.
You're right, my numbers were off, pre GW1, the Iraqi dinar was worth $3.20...here's the link, from our military about the NEW dinar.
http://www.globalsecurity.org/military/world/iraq/currency-reform.htm

Iowanian
06-24-2005, 02:04 PM
I'm thinking about buying a couple of million dinar.....Eating some bacon, ham, and porn rinds, and then wiping my arse with them........sending them back and having my brother give them to the dirtbags that flip them off and make the "shit on you" sign.

Carlota69
06-24-2005, 02:07 PM
I'm certainly not going to be spending next weeks on it. It's pretty much a lottery ticket type investment. Anyone who tells you differently is probably selling dinars.
And you souldn't spend your next paycheck on it...it is a gamble, but do you know how many come to Vegas and do exactly that? Why is it so crazy to spend alittle $$$ on something that is possible? And if you lose the $4, so what? You could lose that in the stock market in two hot seconds...people do every day..

Brock
06-24-2005, 02:07 PM
I'm thinking about buying a couple of million dinar.....Eating some bacon, ham, and porn rinds, and then wiping my arse with them........sending them back and having my brother give them to the dirtbags that flip them off and make the "shit on you" sign.

ROFL

Iowanian
06-24-2005, 02:08 PM
Good luck with that........I don't think its a horrible Idea, if you've got the loot to gamble with.

Who knows what will happen the day our troops pull out.......Long term...it could be good.

beavis
06-24-2005, 02:11 PM
And you souldn't spend your next paycheck on it...it is a gamble, but do you know how many come to Vegas and do exactly that? Why is it so crazy to spend alittle $$$ on something that is possible? And if you lose the $4, so what? You could lose that in the stock market in two hot seconds...people do every day..
Um, simmer down, I'm not arguing with you. I own a few myself. I'm just pointing out the sizeable risk involved, that is all.

Carlota69
06-24-2005, 02:12 PM
Um, simmer down, I'm not arguing with you. I own a few myself. I'm just pointing out the sizeable risk involved, that is all.
Sorry, Doll. I'm not arguing in the fighting sense... :)
It is a sizable risk, but for me anyways, one I can take..and you too obvioulsy.

Brock
06-24-2005, 02:23 PM
After reading a little more about it, I think what we have going on is a bunch of people who jumped into dinars right after their issue and lost their turbans on it. Now they're trying to cut their losses.

http://www.atimes.com/atimes/Middle_East/FF17Ak01.html

CanadianChief
06-24-2005, 02:25 PM
And you souldn't spend your next paycheck on it...it is a gamble, but do you know how many come to Vegas and do exactly that? Why is it so crazy to spend alittle $$$ on something that is possible? And if you lose the $4, so what? You could lose that in the stock market in two hot seconds...people do every day..

So where can I get the best exchange rate if I want to buy some?

Carlota69
06-24-2005, 02:27 PM
After reading a little more about it, I think what we have going on is a bunch of people who jumped into dinars right after their issue and lost their turbans on it. Now they're trying to cut their losses.

http://www.atimes.com/atimes/Middle_East/FF17Ak01.html
LOL, now that's possible, but I still think its a good gamble, for me anyways. The country really has nowhere to go but up...

Phobia
06-24-2005, 02:30 PM
Okay - you sold me. I'll take 1200 Dinar.

Carlota69
06-24-2005, 02:32 PM
So where can I get the best exchange rate if I want to buy some?
Right now, it is considered an exotic currency. You can buy it a bunch of different places, however I would recommend that you pick a company within the US, that you can get ahold of, address phone numbers..etc..one who will ship it to you within one day and who use the De LA Rue system..like the company that printed it. Type in Iraqi Dinar in yahoo, or google and you'll see a bunch of different places..
Once it is pegged, and they think that will happen in August maybe, places like Bank Of America will exchange it for free if you are a customer, or at a price of 5%..But, if it ever becomes of value, it wont be for at least 3 years.

Also, it looks like Iraq might join the GCC in 2010. If that happens, the dinar will join with other dinars in the region, (similar to the euro) and become very valuable. So lets hoppe that happens.

Rain Man
06-24-2005, 03:00 PM
Dang. Right now I've got most of my free cash tied up in Powerball futures.

KCChiefsMan
06-24-2005, 03:07 PM
hey just like any other investment, it is a risk. Go for it if you have the vision and are educated on this matter and it seems like a good investment

KC Jones
06-24-2005, 05:10 PM
The country really has nowhere to go but up...

Not true - it could get much worse over there. We won't stay forever and once we leave all bets are off. There is currently no true security there for economic growth to occur. There are pockets of security - and that's not enough for the kind of widespread growth opportunities to make Iraq a decent investment IMO.

Currency speculation is a tough market, and odds are much better plays than Iraq exist.

Ultra Peanut
06-24-2005, 05:21 PM
I'd like some dinner, too.

Fat Elvis
06-24-2005, 05:25 PM
Since you're from Canada, I'm betting you buy the swampland in Florida.


Have you seen the prices of the condos they are building on that swampland?

Ari Chi3fs
06-24-2005, 05:30 PM
I'd like some dinner, too.

yeah me too... I think Im gonna have Taco Salad for dinar... the wife is actually cooking tonight. I think I am in a parallel universe or something.