Iraqi Dinar investments

[Offshore-Wealth]

Originally Posted by poperr

I have a quick question with all this. I am someone who has bought dinar, however did a bit more investifating recently......

According to xe.com the Dinar was peged to .3109 (USD3- to 1 dinar) for years till 10/05/04, then on 11/05/04 went to 1460.00 Dinar to 1USD. It all happened on one day. What happened on that day, and is this because it was never really worth .3109 in the first place?

Good question,

When Saddam was ousted, the dinar was replaced, and with all the infrastructure damage, never mind the damage Saddam did for years with wars and internal theft of countries assets, there was a decision to drastically reduce the value of dinar to allow it to become stable during the rebuilding and installing a democratic government so the currency would not do a freefall and be out of control. Seems strange to just drop it in value to nothing, but in reality, it would have dropped on its own with all the issues that needed to be addressed internally.

It was worth far more in the past, but the vaue had already dwindled to .3109with Saddam's mismanagement of country, so in reality, it is and will be worth far more in time. How much time, who knows, but they are further along than anyone ever imagined, so from the lows, we have seen an almost 50% increase over the past three plus years. Not thrilling for most, but heck, this has always been a long term investment, so all we have to do is sit back and wait for the value to be restored to former value, and little by little this is exactly what is happening.

Good luck to all, Mike

[Offshore-Wealth]

Originally Posted by Time2Upgrade

I understand that you will have to wait until Iraq goes in the the WTO and trading currency in the world banking system before you can go to any local bank. However, Chase bank will exchange Dinar now.

Did anyone else hear the MSNBC clip that suggested Americans should invest in the Dinar?

Interesting,

Yes, Chase is the main exchange bank at the moment, but with the recent CNBC and other reports on Iraq dinar, no doubt, this is going to increase demand, and other banks will start to take notice.

It was only a year ago that the major news meda broadcasts were calling it a scam and high risk play, now we are hearing them report the most recent rise of 12% in the last couple months. Granted, that may not thrill the HYIP fantasyland set, but for conventional investors, that is not to shabby of a return. (g)

No doubt we are seeing progress like never before, but since start I am up almost 50%, so I am not complaining given the lower than thought risk factors. This is the most complex investment I have even made, but they way I always looked at it, there is no way it can go any lower than the artificial rate that was set when Saddam was ousted. It is no different than with the U.S. penny, it costs 1.6 cents to make a penny, and the same is true with Iraqi dinar, it costs more to print than it is worth when introduced to replace old dinar with Saddam's mug on almost every note. When I saw this, it was a no brainer for me. (g)

Good luck to all, Mike

[ArizonaInvestor]

The same experts who said the Dinar will never increase in value, werewrong. They do not mention their previous error and now say, "It won't last." Blah Blah.....

[Drupina]

nothing hear about it

[DSSR]

I invested $10,000 AUD about 7 months ago. $900AUD per million Dinar.

Can't I just go to Iraq, open a Bank account, put my Dinar in it, that I bought from this guy, then exchange it to AUD when its trading intl again?

The guy even said when its trading again, its possible to go straight to your bank and exchange it, I mean, Ive done it before? So why not this time? I dont understand what's wrong.

Oh, wait guys..

I just remembered something. THE FECKING WORLD ENDS IN 2012 anyways, so FECK IT....HAHAHAHHA...

Do what you want guys, might as well invest, lose, win, whatever, earth wont be here much longer anyways...I suggest you get off your PCs, get a real job, and spend the time with your family.

www.only-the-truth.com

[DSSR]

Oh, I stopped reading on page 3. I didnt see the newest news. I guess that guy I bought my dinars off was telling teh truth and isnt a scammer after all ^^.

[7DiamondDave7]

Originally Posted by GoldenNegress

Don't go out and buy paper money.
Even when the dinar becomes worth something, no bank will take it.
Open up an Iraqi bank account.

You can email Warka bank @ c.accounts@warkainvestmentbank.com if you need any info.

Can you send a link to something credible that says this?

I'm not so sure this is true, because I went down to my local bank that deals in foreign currency exchange, and was told after he made some phone calls, that as soon as the IQD goes on the foreign exchange and is traded freely, that I would be able to go to any bank in the US, that does foreign exchange, and exchange them for USD.

[DSSR]

Yup, that's true, I rang my bank a few minutes ago. They said, "Only when it is on the foreign exchange".

[Blastboy]

One greatest saying,

What ever goes up must come down, what ever comes down will go up again.
I believe in a few years time, the currency will be traded in forex, however, no one knows how much it will rise. Recently, i met my cousin brother and he invested in dinars, i asked him, will the value rise? He said, it will definately rise when US army pull out from Iraq.Y? because certainly the US government will not want to leane a block dot in the history right? It has been years since US invaded iraq, i think after saddam was hanged,chances of US troops to pull out in bright and near, it is extremely big opportunity. Sooner or later, every bank will had dinar traded, and you know what, i found out that HSBC was given authority to trade iraqi dinars...so what you guys think?

[slimmatic]

Originally Posted by Blastboy

One greatest saying,

What ever goes up must come down, what ever comes down will go up again.
I believe in a few years time, the currency will be traded in forex, however, no one knows how much it will rise. Recently, i met my cousin brother and he invested in dinars, i asked him, will the value rise? He said, it will definately rise when US army pull out from Iraq.Y? because certainly the US government will not want to leane a block dot in the history right? It has been years since US invaded iraq, i think after saddam was hanged,chances of US troops to pull out in bright and near, it is extremely big opportunity. Sooner or later, every bank will had dinar traded, and you know what, i found out that HSBC was given authority to trade iraqi dinars...so what you guys think?

HSBC have purchased an Iraqi bank, Dar Salaam, so you can see they are getting involved in this.

Also, the rate of the dinar when sadamm ran the country was a rate set by him. Since it was not international traded, there is no was to test what the exchange rate actually was with the rest of the world.