Shane

http://dinarprofits.com/



Best friend from high school just called me and said he put 10K into this. Basically saying that he expects the Iraqi Dinar to end up being close to a 1 for 1 with the US dollar and that he is going to make millions. I had to really hold back to keep from laughing at him. TRULY!

azmike74

A friends neighbor told me about it and I had the same reaction you had. This guy has put darn near everything he has into it and is expecting to be a millionaire any day now.

A few weeks ago he was telling us "the Dinar is going to reset this weekend".

He also tried to sell me a bracelet for $100 that would improve my strength and balance which I turned down as well.

Shane

Yea my friend told me we have until Friday to get in on this. Thatbis the supposed deadline for the "reset" of Iraqi currency. I think I'm gonna sit this opportunity out.

Mulli

I will invest in this as soon as my next of kin in Nigeria finally pays up.

__________________

Shane

Well you will be sitting there with your thumb up your butt sad that you are poor. While my friend will be rich!

Gaddabout

Anyone thought about buying Dinars? Dinars up to 1168-1 on the dollar from about 1,500 about a month ago, and are continuing to rise as market forces oil up. Nice little cheap investment to make an easy few hundred dollars or general stupidity because playing with money is fool's goold?

__________________
Before I saw him, I could figure things out. He was the first guy I saw close-up and just didn't get what he was doing. Josh Freese on Vinnie Colaiuta

kps0001

Depends on how much you are thinking of throwing into the game? I have been "invested" in this for about 3 or 4 years now. Although I only invested what I felt I could afford to lose. I researched this quite a bit before I "invested" and I certainly didn't fall for the "overnight millionaire" scenario that all the dealers out there claim it to be. The rate actually was moving good for quite a few years. I certainly haven't lost any money but the rate hasn't moved in about a year and a half. So I haven't retired yet either. Lots of rumors always out there so just don't fall prey to the "pumpers" and rumor people and invest only what you can afford to lose would be my advice.

there are some reputable dealers out there but they still gouge you on the buy rate with their fees and all. You used to be able to walk into Chase bank and buy them. However, a year or so ago the banks here in the US stopped dealing with the Iraqi Dinar. Although I have heard "rumors' that 5th 3rd Bank will buy and sell. I didn't buy any from the banks. I know people who did though. I bought mine through two different dealers..both of which I would recommend. I know people who have opened bank accounts in Iraq and some who have also invested in the Iraq Stock Exchange....diversifying the investment. Some think cash holders will get screwed, some think cash is the only way to go. Who knows?

Tough to make any money on it right now though. I see it as more of a long term gamble.

Shane

http://www.arizonasportsfans.com/vb/...is-162937.html

jefftheshark

If I think I'm going to get lucky, I'll spring for Dinars, but if not then she's gonna have to go dutch.

JTS

kps0001

Wow 10k ?!?! I know many people in this game. Some of them very wealthy people and they didn't even throw 10k at this. I know there are people out there that have invested even more than that. That's what i was getting at in my other post. This entire "get rich overnight" sales pitch is just that, a sales pitch. But really its a bold faced lie. Currency investment is a tricky thing I have learned and I am in no way an expert or even close.

There are some really good things happening in Iraq but still a lot of really bad things preventing the country and its citizens from progressing financially. The claim is that the dinar will once again go back to, or close, the value it was when Saddam was in charge....around 1 dinar=$3.41 us dollars. The belief is that since Iraq holds the 2nd or 3rd larges oil reserves and largest natural gas reserves in the world that they will revalue their currency to the pre Saddam era overnight. Well there hasn't been too many instances in history where a country has done an overnight revalue of their currency. Most dealers, who are the only ones getting rich off of this investment, point to events that happened in Kuwait during the Gulf War. However, it is really easy to find out what really happened in Kuwait and it wasn't an overnight revalue as the dealers claim.

This is a very long term investment but I view it as more of a high risk/high reward bet. Who knows it may never pay off and I may have some new monopoly money. Whatever the outcome is I have learned a lot from this venture and I didn't put in more than I cared to lose. I know some that dumped around $3,000 or so due to the sales pitch of overnight millionaire and they have now sold it all back because they were already on hard times and couldn't really live without getting that money back. Too bad.

But to blow over $10,000 on something like this is absurd, in my opinion, unless you wipe your ass with $100 bills. I hope your friend could afford to lose that much money. I have been hearing that this thing is going to pop every weekend now for about 3 years. Don't believe the hype but there is money to be made in Iraq if you have patience and educate yourself.

conraddobler

http://forexforums.dailyfx.com/blogs....html#comments

First of all to get rich off a little bit of money you need gearing.

100 to 1 FX markets baby, if you like gambling there aint no better way to lose all your money at light speed.

So one dollar trades like it's a 100, 10,000 trades a mil, etc.

Just don't go to sleep, EVER.

That is unless you have COMPLETE faith in your ability to set rock solid stops and your trading platforms execution.

Which you shouldn't have IMO.

Back when online poker was legal, I was in a tourney where I was almost ready to get the final table, 1st place was like 10k, was sitting pretty good then my internet went down.

I eventually had an old ATT dialup account for just such emergencies. I still haven't forgiven a certain cable company for this fubar.

Now imagine that your internet goes down with like a million plus on the line, you're neck deep short the dollar, something goes down in the ME, the dollar surges and wipes you out while you desperately try and call your fx broker.

Ah, fun fun fun.

I'd just buy gold or silver, it's simpler.

__________________
When written in Chinese, the word "crisis" is composed of two characters. One represents danger and the other represents opportunity. John F. Kennedy