New Dinar Investment, Scam or not?

Why not give it a try ? 1000 ? not bad at all , just think of the money people spend each year on lotto tickets ? Now where can I get my hands on some? Can you pick them up at a curancy exchange?

WOw....

Why would you invest in a nations currency who is currently in the middle of a CIVIL WAR! ..

If it partitions off and becomes 3 nations, some fool has your 30 bucks and you have 160 in paper.

Thanks for the idea though..

I am off to start an E-bay auction .. I think for $30 I will sell information to people to buy Iraqi Dinar! .. if it worked for one, it can work for me! .. even if I only get one sucker to buy its a profit to me!

I don't know what to tell you though, I honestly don't see you making any money off this.

While the others would have you believe immediately that the whole thing is a scam... I've been trading in the Foreign Exchange market for a while...

now, foreign exchange typically doesnt let you trade in IQD's, however, if I could, it would be quite the long term investment.

Quite frankly, the Iraqi currency is at it's all time low... chances are, it's not going to get much lower. If you invest in the Iraqi currency now, there's no-where but up from here, so to speak.

Essentially, as soon as their economy fires back up again, there's alot of money to be made. Unless you own a buisness over there, the only way to make it would be to invest in their country as a whole... IE, their currency.

If you invest now, I can almost guarantee that your investment will certainly be worth it once their economy gets back on its feet.

When it gets back on it's feet, I don't know... thats why I call it a long term investment.

I suggest you look into how foreign exchange works, and then look at your current situation again. I think you will see things the way I see them.

Now, my question to you is...
I can't access IQD's through the foreign exchange market... through which holder did you purchase IQDs?

But, as they say... buy low... sell high...
you just have to know when the low point is... and a total economical collapse due to war is about as low as you're going to get.

[edit on 1-3-2007 by johnsky]

100% of the time when someone is willing to offer you a way to be a millionaire or billionaire , and they charge you for it, then it's a scam. If they knew the secret to getting rich, they would either:

A) Keep it to themselves to avoid competition.
B) Give it out for free or a very small fee, because what's $40 going to matter when they're billionaires?
C) Only tell you after the method doesn't work anymore, and there is no danger in others knowing.

I wouldn't be so sure man.

Theres alot of those 'schemes' out there that actually are based on fact, but show you the wrong way to get at those said riches.

If it weren't for people getting rich off of money making 'schemes' and telling people about it, the foreign exchange market would be a thing of folklore and myth to the average person.

Sometimes, if there's enough money to go around, those who are involved in profiting from it have no problem with letting others know about it... especially if they can sell the instructions.

Ok so you did buy 800 dollars but think about it if it doesn't work you can get your money back when ever you want just go change it to american dollars. But you should just wait and see you never know what could happen it could come up and if it does that is going to be a lot of money !! Good Luck

This article will expose the tricks and scams used by the New Iraqi Dinar Dealers. If, by the end, you still wish to purchase Dinars, this article will compare all the prices being offered today, and the best way to buy Dinar.
This eBook will expose the tricks and scams used by the New Iraqi Dinar Dealers. If, by the end, you still wish to purchase Dinars, this eBook will compare all the prices being offered today, and the best way to buy Dinar.

The New Iraqi dinar is being proclaimed as the investment opportunity of a lifetime. There are dealers all over the internet selling New Iraqi Dinar by the million. The theory behind buying the dinar is quite simple. At the present time, 1.00 USD (US Dollars) will buy you 1,475 IQD (Iraqi Dinars). During the reign of Saddam Hussein, 1.00 USD would buy you 0.33 IQD.

So…..

If you bought 1 million New Iraqi Dinars at the current exchange rate (costing you $677), and then waited for the dinar to climb back to the Saddam exchange rate, your million dinars would now be worth 3 million US dollars. You would have turned 677 US Dollars into 3 Million US dollars.

Sounds like a great deal doesn't it!

Then why does the Utah Division of Securities, list the selling of the New Iraqi Dinar as number two in their list of the Ten Most Common Scams?

The reason is that the Dealers of New Iraqi Dinars do not tell you all the facts. Listed below are al the important facts you need to know about the New Iraqi Dinar.

Saddam's Exchange Rate

One of the most commonly quoted facts on Dealer's websites is that the exchange rate under Saddam Hussein was one Iraqi Dinar for three US dollars. That is true, as far as it goes, but here is the catch. Saddam Hussein himself personally set that exchange rate. He could have said, “One Iraqi Dinar buys 20 US dollars”, if he had wanted to. Just because that was the official exchange rate, doesn't mean that is what people were actually trading it for. The old Iraqi Dinar could not be freely traded on the world market, so this exchange rate was essentially meaningless. This rate was only open to those who were close to Saddam.

The most important fact to take out of this section: The Iraqi Dinar NEVER actually traded 1 Dinar for three US dollars in reality.

Trading your Dinar

The New Iraqi Dinar is available to buy from a myriad of dealers. But what can you do with it once you have bought it? Nobody actually wants New Iraqi Dinar because it cannot be freely traded on the world market. To put it simply, a bank won't accept dinar, and you can't trade it back for US dollars (or whatever currency you are using) anywhere except physically in Iraq. And if you actually went to Iraq, they would give you 1 US dollar for every 1475 New Iraqi dinars you gave them. That means that if you buy the dinar you are probably going to be stuck with it. There are a few dealers who offer to buy back dinar that you have bought from them, but they will not want your dinars from elsewhere.

The most important fact to take out of this section: Once you have bought your Iraqi Dinar you are going to have it for a while

Make sure it's NEW Iraqi Dinar

There is a difference between the Old Iraqi Dinar and the New Iraqi Dinar. The Old Iraqi Dinar is no longer legal currency. It is worth only what a collector will pay for it, which is even less than the New Iraqi Dinar. Any dinar with a picture of Saddam on it is an Old Iraqi Dinar. Do not let yourself be scammed into buying Old Iraqi Dinars. Make sure you see a picture of the dinars you are buying, and that the dinars they show you, match the pictures that I have below.

THIS IS ALL A SCAM