Iraqi Dinar

[GUCHI]

hey folks

just wanted to know if anyone is familiar with the Iraqi Dinar??? it is very cheap right now and I am considering picking up a few. does anyone have any info. positive or negative concerning the future of the Dinar ???

thanks
guchi

[Buster]

I have a few with Saddam on the bill..

[Frixxxx]

I would highly recommend that if you buy that dinar you be prepared for 3 things:

1. America removes itself from the day to day operations and the IRAQ Civil War devastates the economy and the dinar loses value.
2. America removes itself from the day to day operations and the IRAQ economy can't focus enough on the economy and the dinar value remains small.
3. Best case scenario, the IRAQ dinar returns to a 3-1 value against the dollar and you are a rich SOB:cool:

[GUCHI]

my understanding is that you can buy 1 milliom Dinar for $1 thousand and change now.

Frixx
i like number # 3 !!! i have not bought any , but my co worker has.

[ExtremeWX]

Where do you buy?

[GUCHI]

http://www.dinartrade.com/

it gives some history and other info. let me know what you all think, i am still sitting on the fence with it.

[anthony]

hey folks

just wanted to know if anyone is familiar with the Iraqi Dinar??? it is very cheap right now and I am considering picking up a few. does anyone have any info. positive or negative concerning the future of the Dinar ???

thanks
guchi

I bought some coconut sweets and a peach Rani with mine today ...

[Frixxxx]

Read this about the bolivar - Venezuelan currency.

You might change your minds.

http://www.businessday.co.za/articles/Content.aspx?id=90923

I do business in the forex market....there are the Fab Five currencies:
USD
JPY
GBP
EUR
CHF
Exotics:
AUD
CAD
NZD
MXN

Outside of these currencies, you are really getting dangerous. If you buy, make sure the bank is insured or at least reputable.

Good Luck!:cool:

[GUCHI]

Frixxx

good lookin out !!!

[anthony]

I bought some coconut sweets and a peach Rani with mine today ...

On an only slightly more serious note, if you know someone in theater with access to money exchange you can skip some of the trading fees by paying them to bring some Dinar home for you. Military personnel are authorized to travel with a US customs agency-specified amount (it's either $1000 or $5000 USD worth of dinar; I can't remember).

Personally, I can think of tons of investing options that are a lot more realistic and easier to manage. But, if you just want to do some sort of a horsetrack throwaway bet with $1000-$5000 and just put it away for 20 years, I guess there's worse things you could do with your money. People blow that kind of cash in Vegas all the time on systems that are just as predictable as Iraq. I think sipping cocktails and chucking dice on a craps table would be more exciting though.

[Frixxxx]

On an only slightly more serious note, if you know someone in theater with access to money exchange you can skip some of the trading fees by paying them to bring some Dinar home for you. Military personnel are authorized to travel with a US customs agency-specified amount (it's either $1000 or $5000 USD worth of dinar; I can't remember).

Having someone "acquire" you dinars is not really legal. Yes you can do it... But then again why? Let's say you send $1000 USD and it turns into 1,000,000 dinars. What do you do with it??

Hold on to it?

In twenty years if 1,000,000 dinars turns into $10,000 nice return...now you have to cash it in......:suspicious: IRS wants to know how you got that cash!!!!

Spreads.....how much are you paying the bank? you may have paid no spread on the purchase, but when you cash it in...the bank wants it's share.......to get it converted may cost you $1000.

I don't trade in year long commitments....mine average a week.

This one never smelled right to me....:suspicious: