koonsdawg
Registered User
- Location
- Centerville, UT
It's way to early to tell... I think it will be a few years before we get to cash in. I have mine sitting in a safe deposit box in the bank. I forget I have them most of the time.
New Iraqi money. The Dinar.
- Thread starter koonsdawg
- Start date
- Location
- Sandy, Ut
So how many of you are millionaires? 
Just looked at the most recent conversion, if you paid ~$800 in 05', after paying conversion costs you'd be lucky to make 5% if you sold today. Had you bought gold, you would have doubled your money... I know, I know hindsite is 20-20.
I just dug this up a many are speculating silver prices are going to jump, it like gold has also doubled in the last couple of years. I just read an advertisement for silver, they are claiming its going to hit $50 in another year due to needs in China??? Anyone buying?
Oh yeah, the Utah Department of Securities listed the Iraq Dinar as one of their top ten investment scams
Just looked at the most recent conversion, if you paid ~$800 in 05', after paying conversion costs you'd be lucky to make 5% if you sold today. Had you bought gold, you would have doubled your money... I know, I know hindsite is 20-20.
I just dug this up a many are speculating silver prices are going to jump, it like gold has also doubled in the last couple of years. I just read an advertisement for silver, they are claiming its going to hit $50 in another year due to needs in China??? Anyone buying?
Oh yeah, the Utah Department of Securities listed the Iraq Dinar as one of their top ten investment scams
- Location
- East Stabbington
you can trade commodities like gold and silver on the market. I'm not sure if the process is any different than purchasing stocks, but I don't believe it is.
- Location
- East Stabbington
commodities, currencies, lots of things can be traded.
I don't think anyone expected to get rich quick off of the dinar, but I think the cost of the investment is/was so low and the potential was so high, you really couldn't hurt yourself by spending a couple hundred bucks on it. It's not like people should be putting all of their savings into Dinar. It's kind of like buying a lottery ticket--you probably won't get anything back, but if you do it could be huge.
I never got around to buying any.
I don't think anyone expected to get rich quick off of the dinar, but I think the cost of the investment is/was so low and the potential was so high, you really couldn't hurt yourself by spending a couple hundred bucks on it. It's not like people should be putting all of their savings into Dinar. It's kind of like buying a lottery ticket--you probably won't get anything back, but if you do it could be huge.
I never got around to buying any.
- Location
- Sandy, Ut
I guess there is a fine line between potential value and fraud in some cases. In reading, many investment firms (even those dealing in currency trading) refused to deal with the Dinar as it was a purported scam from day 1. The facts in which it was promoted to buyers were false and misleading IMO. To this day you can hop on eBay and find a ton of different Dinar currencies (many with no reserve too)... EVERY single one of them touts the fact that the Dinar was at one time worth over $3US, well according to every major source on the internet, it wasn't. Sure that was the number Saddams regime placed on it, but it wasn't and still isn't publicly traded. I truly doubt there was ever any serious potential, and its been reported as such from the begining yet these "securities firms" keep touting it otherwise. A lottery ticket has a chance... the Dinar???
We'll see, mabey I'll have my foot in my mouth with and working as a butler for some rags-riches millionair. However, I doubt it... the world can't have a couple hundered thousand millionaires overnight
Here is my investment... Who wants to bet your dinar will be worth less than it is currently, taking inflation and the weakening US Dollar into mind. Say in another 2 years. If its not worth $1000/1mil, you give me $50, if it is, you give me $20. Why your $50 versus my $20, well, I figured you were into bunk deals :greg:
Medsker
2019 Jeep Wrangler Unlimited Rubicon
- Location
- Herriman, UT
It's kindof funny how Sadam's money stashes did not consist of Dinar, but instead consisted of US currency.
- Location
- East Stabbington
I don't know that anyone expected a rapid valuation or a quick return to the international exchange.
- Location
- Sandy, Ut
Unfortunately from what I've read, it will never make it to the international exchange, it didn't before the war, and it surely won't in the near future (ever?). Assuming the country can assemble a somewhat working government, it will be an all new government, with no ties to the dictatorship regime that originally issued the Dinar. Do you really think they are going to honor the Dinars and send TRILLIONS of dollars to the US? Speculation at this point is they will issue a completely new unit of money, completely abandoning the worthless Dinar, thus why Iraq's themselves are stashing other currencies (including the de-valuing US dollar). Assuming the country continues in is turmoil... well who knows, but look at the similar situation in Venezuala, plenty of oil... even more turmoil. Again, we'll have to see... but for those that continue to buy Dinars (there are still a ton selling on eBay) despite warnings from so many places... send your money to me. I will be issuing the Kinar, which will be the currency used in my territory, when I sucsessfully remove my neighborhood from not only Utah, but also the United States. Same risks involved
- Location
- East Stabbington
isn't teh dinar that is being purchased an entirely new currency that was created in the last few years to replace the easily copied old dinar?
- Location
- Sandy, Ut
Yes, by their provisional government... read this, especially about them not wanting to open it up to international exchange: http://www.xe.com/iqd.htm
cannoncrawler
TWERNT THE MORMONS!!!!!!
- Location
- Idaho
So how many of you are millionaires?
Just looked at the most recent conversion, if you paid ~$800 in 05', after paying conversion costs you'd be lucky to make 5% if you sold today. Had you bought gold, you would have doubled your money... I know, I know hindsite is 20-20.
Oh yeah, the Utah Department of Securities listed the Iraq Dinar as one of their top ten investment scams
I understand that everyone thought that you would make a kerzillion, but making 5% hardly sounds like a scam. besides, mebbee in 20 yrs you will be glad you have it... but you are right things like silver and copper and materials will be going up with worldwide demand and the growth that is exploding in some countries.
- Location
- Sandy, Ut
Your missing the point... 5% is how much you would make if you sold it as of today, if you could... some are selling on eBay for less than folks paid in 05'. My point was the fact all of the sellers (which won't buy it back
) are pimping it under the pretense that it will return somewhere close to the value Saddam set for it years ago. Even if it went to 1/10th of Saddams value, it would cost them trillions of dollars The scam isn't necissarily the money itself, its the fact you are paying "processing" and high S&H fees to get the money... Go buy any other currency from a legit currency exchange outlet, and they may ding you 1% or less... not 30-40% as some are.
cannoncrawler
TWERNT THE MORMONS!!!!!!
- Location
- Idaho
Your missing the point... 5% is how much you would make if you sold it as of today, if you could... some are selling on eBay for less than folks paid in 05'. My point was the fact all of the sellers (which won't buy it back
The scam isn't necissarily the money itself, its the fact you are paying "processing" and high S&H fees to get the money... Go buy any other currency from a legit currency exchange outlet, and they may ding you 1% or less... not 30-40% as some are.
yeah I pretty much missed the whole point completely. sorry for my retarded post.
- Location
- Sandy, Ut
yeah I pretty much missed the whole point completely. sorry for my retarded post.
Not a worry at all, I can see how my post could read two ways. I really hope it works out for all those that purchased, I almost did myself. The only reason I didn't is because I just never got around to it. With Gold hitting $900/oz. its really making me think...
Nah, I'll just keep in investing my money in rusty LandCruisers
- Location
- Sandy, Ut
...Here is my investment... Who wants to bet your dinar will be worth less than it is currently, taking inflation and the weakening US Dollar into mind. Say in another 2 years. If its not worth $1000/1mil, you give me $50, if it is, you give me $20. Why your $50 versus my $20, well, I figured you were into bunk deals :greg:
Bummer nobody would take me up on this bet. Dinar is $857 US to 1 mil Dinar.
Gold on the other hand, wish I would have taken some of my own advice, my .223k and 7.62k investments have not been appreciating as much as I would have hoped... in a good way.
I did just read that the Iraq Dinar is being 'redenominated' at the end of 2010. They are slicing 3 zero's off, so 1000 pre-change Dinar will now be worth 1 post change Dinar, both of which will still have the same 'trade' value with the US Dollar. Not sure what that will do for those out of country that have large cash's of Dinar?
Last edited:
mierdota
Well-Known Member
i bought some dinars awhile back has anyone kept up on it and been watching them? Look at the last post on this web site. This guy is legit the long ride is finally almost over for those who bought dinars a few years ago http://dinarspeculation.com/ im excited to see what happens watch this site the next few days/weeks something big is about to happen i know it. There is lot of good info on this site. they have not announced a rate yet but i heard a rumor of .80