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post #1 of 18 Old Jan 29th, 2012, 1:06 pm Thread Starter
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Iraqi Dinar

Hi, a friend of my wife is buying up a bunch of Iraqi dinars. They are trying to talk us into buying some too. They say that the dinar that you buy for pennies will be work dollars soon.... I think that Big Foot will be found before that happens...... Anyway, Could anybody tell me if there is something buying Iraqi Dinars. ...Thank You ...

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Last edited by Patric; Jan 29th, 2012 at 1:24 pm.
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post #2 of 18 Old Jan 29th, 2012, 5:16 pm
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Re: Iraqi Dinar

Reminds me of something I learned a long time ago.

When someone with knowledge meets someone with money and they part, the one with the knowledge leaves with the money and the one with the money leaves with the knowledge.

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post #3 of 18 Old Jan 29th, 2012, 8:51 pm
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Re: Iraqi Dinar

Let me get this straight. You are considering investing in the currency of a country that has a corrupt political system, is torn by domestic strife, lacks a sound monetary policy, whose cities are torn apart by violence, where drugs play a major role in the economy, where the government arbitrarily manipulates the people and the money supply and where economic growth, if any, will be slow, painful and is most likely years away? What about U.S. Dollars instead?

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post #4 of 18 Old Jan 30th, 2012, 8:42 am
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Re: Iraqi Dinar

Never invest money you can't afford to lose. If the country stabilizes, you stand to get a large return. If they falter or default, you stand to lose it all. Given what you know of their recent history, considering the long term past, how confident are you they will settle into a stable financial position in the next 5 years?

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post #5 of 18 Old Jan 30th, 2012, 10:54 am
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Re: Iraqi Dinar

Reminds me. I must look where the 25 million dollars are that a Nigerian friend promised to send to my account.

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post #6 of 18 Old Jan 30th, 2012, 5:46 pm
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Re: Iraqi Dinar

Is your wifes friend buying them diners in the Dearborn area about a hour and a half southeast of you Patric. I'm not sure what kind of food they serve at an Iraqi Diner and I don't think I want to find out either.

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post #7 of 18 Old Jan 30th, 2012, 7:20 pm
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Re: Iraqi Dinar

Quote:
Originally Posted by Slammer
Reminds me. I must look where the 25 million dollars are that a Nigerian friend promised to send to my account.
Why, they're in 400 troy oz (12.4kg) London Good Delivery gold bars in my vault in Switzerland!

Funny you should ask.


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Last edited by RonKMiller; Jan 30th, 2012 at 7:25 pm.
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post #8 of 18 Old Jan 30th, 2012, 7:24 pm
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Re: Iraqi Dinar

Quote:
Originally Posted by Moot
Let me get this straight. You are considering investing in the currency of a country that has a corrupt political system, is torn by domestic strife, lacks a sound monetary policy, whose cities are torn apart by violence, where drugs play a major role in the economy, where the government arbitrarily manipulates the people and the money supply and where economic growth, if any, will be slow, painful and is most likely years away? What about U.S. Dollars instead?
Nah, you missed it completely. He said his wife's friend is buying a bunch of Iraqi diners.

They're crazy for 1950's American nostalgia over there - a GREAT investment idea!


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post #9 of 18 Old Jan 30th, 2012, 8:24 pm
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Re: Iraqi Dinar

Quote:
Originally Posted by RonKMiller
Nah, you missed it completely. He said his wife's friend is buying a bunch of Iraqi diners.

They're crazy for 1950's American nostalgia over there - a GREAT investment idea!
http://www.youtube.com/watch?v=V3FnpaWQJO0

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post #10 of 18 Old Jan 30th, 2012, 8:57 pm
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Re: Iraqi Dinar

Quote:
Originally Posted by Moot
Let me get this straight. You are considering investing in the currency of a country that has a corrupt political system, is torn by domestic strife, lacks a sound monetary policy, whose cities are torn apart by violence, where drugs play a major role in the economy, where the government arbitrarily manipulates the people and the money supply and where economic growth, if any, will be slow, painful and is most likely years away?

Some would say that describes the USA.....

At any rate, I would not do it, unless you have the stomach for very heavy risk. One of two things would happen-either you lose it all, or get wildly huge returns.

Personally I think your odds would be better if you went to your nearest casino and plopped dough on a favorite number on the roulette wheel...and I've never gambled a nickel in my life.
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post #11 of 18 Old Jan 31st, 2012, 6:16 am
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Re: Iraqi Dinar

I am a banker and we have had customers burned in this scam. Caution!
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post #12 of 18 Old Jan 31st, 2012, 9:13 pm
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Re: Iraqi Dinar

If you could figure out a way to safely short the Rial - Iran's currency - you just might have a winner. But, it looks like that horse has already left the barn.

Ahmadinejad's government raised the banking interest rates to 21% from 15% last week and devalued the rial by 8%; these moves are intended to help stabilize the currency market. The rial has plunged 30% in the last month as many Iranians looked to sell rials for gold and other currencies.


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post #13 of 18 Old Jan 31st, 2012, 9:44 pm Thread Starter
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Re: Iraqi Dinar

Thank You to everyone For all replies. I think remphoto's note says just what I thought buying Iraqi Dinars might be. I don't see how you can buy something for $20 or $30 dollars, & have go up to $80,000.

My wifes friend just may make a bunch of money on this thing, & if they do I'll be happy for them. But, if they don't I hope they don't louse too much if it does go bad.

Like I said, I think they will find Big Foot before that happens....Maybe Big Foot will deliver the Dinar profits along with the Nigerian gold bars in a take out order from an Iraqi dinner from Dearborn....Or not...

Patric Blackman
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post #14 of 18 Old Feb 1st, 2012, 1:19 am
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Re: Iraqi Dinar

Quote:
Originally Posted by Moot
Let me get this straight. You are considering investing in the currency of a country that has a corrupt political system, is torn by domestic strife, lacks a sound monetary policy, whose cities are torn apart by violence, where drugs play a major role in the economy, where the government arbitrarily manipulates the people and the money supply and where economic growth, if any, will be slow, painful and is most likely years away? What about U.S. Dollars instead?
Moot,

What country are you advising against? Sounds a lot like the USA, but then you encourage investment in U.S. dollars!
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post #15 of 18 Old Feb 1st, 2012, 9:42 am
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Re: Iraqi Dinar

Quote:
Originally Posted by patrick2000
Moot,

What country are you advising against? Sounds a lot like the USA, but then you encourage investment in U.S. dollars!
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post #16 of 18 Old Feb 1st, 2012, 11:48 am
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Re: Iraqi Dinar

This has definitely been one entertaining thread.................



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post #17 of 18 Old Feb 1st, 2012, 12:14 pm
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Re: Iraqi Dinar

I'm leaving for Iran in the morning with a fist full of dollars.


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post #18 of 18 Old Feb 1st, 2012, 12:38 pm
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Re: Iraqi Dinar

Best make it a wheel barrow full just to cover the 'bail'.............



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