Iragi Dinar Investing..?

So, my fiances mother called me today and said she had a friend in her line of work with a close friend very high up in the government who told him to go to Chase bank and buy Iragi Dinar by the end of the week.

I did some digging on it and found quite a bit of information on the whole currency trading thing and a lot of information about Dinar and why I should buy it etc.

I'm curious to know what the ATS community thinks about this kind of trade and if I am missing something relating to Iraq.

Why buy this week? Is the war going to be declared over and our troops moving on to Iran thus pushing the Iraqi government into place and pushing the value of their Dinar up?

What are your thoughts?

I called Chase bank and they said as of today you can get 100,000 Dinar for about $88.......meaning big profits if things improve over there. I'm gonna buy $100 worth and wait it out to see what happens I think but Id really like to know what everyone thinks.

And if this thread is in the wrong place and must be moved, PLEASE link me to where this is moved so I know next time. I almost posted this in BTS but it logged me out and wanted me to re-register.

Thanks.

I`d read through this page before putting down any money. Perhaps the situation has changed slightly, but to be honest the idea of the IQD pulling a massive turnaround inside of a week seems a little on the impossible side of things - especially since a war with Iran would only guarantee further regional economic instability.



[edit on 22-8-2007 by vox2442]

im no expert but it has been my understanding that an investment most any where in the mid east would be wise. dont know the exact time line but the dinar has been higher than the dollar for quite some time

believerofni
So, my fiances mother called me today and said she had a friend in her line of work with a close friend very high up in the government who told him to go to Chase bank and buy Iragi Dinar by the end of the week.

Okay, it's 2014 now. How'd that work for them? Seven years later and they are still waiting for it to happen.

That friend of a friend who had a close friend of a high government official sounds like it was just a load of rubbish that was passed along. Kind of like the game of telephone where the message gets passed along from person to person, each time the story gets distorted more and more or made more grandiose. No one asked who the high government official was, did they? They'd have found out this Dinar revaluation is just an urban myth and there never was any government official behind that statement.

Those dinar sellers play to people's hopes of a big win. It'll never happen, at least not from a Dinar revaluation.