Iraqi Dinars "One of the Most Foolhardy Investments you can Make"

A local newspaper in Georgia, USA, reports that some local residents are buying Iraqi dinars in cash form, in the hope of profiting from a revaluation of the currency.

According to the Moultrie Observer, people are buying boxes of crisp Iraqi dinars that look fresh off the printing press. It goes on to quote a local commodities trader as saying he could possibly think of worse investments than Iraqi money at this time, but would be hard pressed to do so:

If you want to make a wild investment, I’d buy Russian rubles ... It (the dinar) would be one of the most foolhardy investments you can make.

Meanwhile, CNBC columnist Kelley Holland says the dinar is the subject of a variety of scams, and regulators and watchdogs are sounding alarms:

"If someone has been telling you about the rosy prospects for the dinar, please, please, be careful. It's almost certainly too good a story to be true."

On Thursday, Komo News in Seattle, Washington, ran a news report on the dinar and interviewed one woman who had actually bought what she believes to be Iraqi dinars on the internet. You can find the full video report on the next page ...

651 Responses to Iraqi Dinars "One of the Most Foolhardy Investments you can Make"

  1. LZ 24th June 2012 at 01:30 #

    Why bother?
    It's a lose lose situation. You will have a better shot at powerball.

  2. CHASTING 24th June 2012 at 04:20 #

    Has been a few weeks that this nonsense reached my inbox...was blocked for weeks, then made its presence...thought this thread reached its point and the head bangers knocked both sides out...thought that it died........ hatred lives.

  3. Stew 24th June 2012 at 18:08 #

    What's that Chasting... YOUR hatred of an open honest debate?
    Stick to the dinar forums if all you want to hear is "Go Dinar" "Big RV soon" "How will we spend our millions".

  4. chasting 24th June 2012 at 18:14 #

    You know this has just gotten down to the point of annoyance. Perhaps the original intent was to create a respectable debate fourum but it really has degraded to a mud slinging hateful place..See ya Stew...enjoy your debate. DOC needs you.

  5. DOC 1st July 2012 at 10:18 #

    Well everybody has an opinion, Chasting these guys want folks to believe they are right.Well so far they have been wrong.No Lop,no redom,etc but they will never admit it.Time will tell what it will do and that's a fact.But in the mean time those guys will continue to hold on to their dinar while arguing and debating with others.LOL neither one of them have ever denied they don't have dinar or dong.Lol well maybe they will say it now.Lol But it's too late becuz most of us know the real them about them.

  6. DOC 1st July 2012 at 10:19 #

    I been gone for a while but I see these guys are still in the basement with nothing better to do day and night.LOLBtw eating captain crunch.

  7. Eddy 30th July 2012 at 03:41 #

    I like to stay nuetral but have a hard time watching people try to disprove Stew and Barry and yet to see one of those big time "GO Dinar tomorrow" people who have this secret intel or the so called secret intel people come in this forum and actually produce one bit of evidence to show Dinar as a real deal or show Stew and Barry how they are wrong, so every one picking on what I consider financial experts and not bringing this OAKIE OIL MAN, Britling.... and other guys in here with one bit of real investment knowledge of dinar, you need to give Stew and Barry consideration.

  8. LZ 30th July 2012 at 06:09 #

    You would have to be a complete moron to believe any of those guru's. everything they say is fantasyland and lies.

  9. Barry 3rd August 2012 at 15:54 #

    Hi Eddy, you'll be waiting for a long time if you want actual facts or even an attempt at a two-way debate rather than emotional one-liner insults and endless "shout down the debate" censorship attempts (as is painfully obvious looking back over this thread).

    As for Breitling's Blog, scroll down to the bottom of his page, and you'll very clearly see the words "WARNING! This site is for entertainment purposes only" - which speaks for itself! 😉

  10. 2collectg 27th August 2012 at 22:41 #

    the LIFTING OF THE 000`S was just the process of taking those LARGE NOTES out of circulation remember shabs let the banks sell the dollar @ 1189! this is how he LIFTED THE ZERO`S!!! IRAQ HAS STATED THAT THEY HAVE 67 BILION BACKING THE DINAR AND THAT GAVE IT EXTRA STRENGTH!!! AND IF THE IMF THE WORLD BANK THE US TREASURY BACK THIS CURRENCY I`M NOT WORRIED! QUESTION IS A EXTRA STRENGTH DINAR LIKE A EXTRA STRENGTH BAYER ASPRIN! LOL

  11. Dr. R. Keiferland 28th August 2012 at 10:35 #

    "IRAQ HAS STATED THAT THEY HAVE 67 BILION BACKING THE DINAR AND THAT GAVE IT EXTRA STRENGTH!!!"

    There are 30tn Dinar banknotes and 72tn Dinar's total (trillion not billion) Dinar in circulation. Those figures come straight from the Central Bank of Iraq over the past 60 days. That they've only got 67bn "backing it" (that's just 0.09% of their money supply covered) is ironically, perfect proof of why they will redenominate 1000:1 (as they've been saying all along)...

  12. 2collectg 5th September 2012 at 01:27 #

    when i see the DMCC OF DUBAI MAKING THE STATEMENTS THEY ARE ABOUT THE DINAR YOU SO CALLED CURRENCY GURU`S ARE HOWLING AT THE MOON!! IRAQ IS GONNA SILENCE ALL OF YOU SO CALLED CURRENCY GURU`S WHEN THEY COME BACK TO THEIR NATURAL PLACE!!

  13. 2collectg 5th September 2012 at 01:32 #

    IN A ARTICAL YESTERDAY SALEH STATED THE THE DINAR IS STONGER THAN WHAT WE SEE BECAUSE OF THE 67 BILLION OR MORE IN THE RESERVE IT MAKES THE DINAR 3 TIMES STRONGER THEN IT WAS BACK IN THE 90`S!

  14. Robert T. 11th November 2012 at 14:02 #

    Tell you what, I got my "training" in the PM markets, (and made money, BTW) and it's pretty obvious to me that any re-val that "removes the zeros" will be a good thing. Lead to a more normal currency, and probably get it into the international markets (eventually). But, how will all the foreign holders exchange these "ZEROS NOTES"? Currently, that is only in IRAQ! OK, let's assume you can get that exchange made, and assume no loss. (near zero loss)
    Now, what you have is _the same amount of dollars_ (in IQD) as you had before! But, you are in position for a "rise in IQD" back to normal levels... which is in the range of a 2 to 3x multiplier.

    Getting in early is great in any hot investment, but the current levels of backing for the IQD are in dollars, so it's pretty much _FIXED_ for the time being. Now, if the Iraqi Central Bank obtains more USD backing, (and not currency sales to US citizens thru brokers) THEN the exchange rates would increase notably, and these other RV factors and such could gain traction. A local (Iraqi) "increase in confidence" is what is needed for a good "RV", even if that is the proper terminology. Watch these factors, ignore the "guru" BS and rumors, and then make your decisions. But be ready to go to IRAQ and exchange the ZEROS, lol! Or lose your a$$ to a broker.

  15. Rina 23rd December 2012 at 09:06 #

    Hey Stew and Barry I believe you can help me on this. In 2006-2007 my husband was deployed to Iraq through KBR, any way 10 days latter we had a baby girl as a joke some of his friends and him got through US treasury 1 mil Dinar for our baby. ( my husband was killed there ). Any way last year my step son asked me for his 18 B-Day he wanted for me to get him Iraqi dinars I did try to talk him out of it pointing that nothing hs changed on that field for years but he had seen it all over the internet so in order for him not to buy some worthless crap I went and got him 100.000 Dinarr through UST ( he was not happy with the amount but that was all I was willing to waste ). So now my question to you guys is what can I dowith 1,1 mil dinars what would you sugest. There is no way I can go to Iraq to change it and I have seen it first hnd how many people had lost when DM was replaced by Euro for they did put a short time frame to exchange. Thanks guys.

  16. Stew 24th December 2012 at 09:55 #

    Rina. Sorry to hear about your loss.
    As for what you can do with your dinar. I guess there are a couple options. You could sell back to a dealer or you could sell it on e-bay or something similar to that. There would be fees involved, but would still probably net more than what a dealer would pay. I really don’t follow what prices the dealers sell and buy for, or what the going e-bay rate is, so it would take a little homework on your part to find the best deal.
    I do have a question for you though. You state that your husband and friends got the dinar from the US treasury, and you also stated that the dinar you bought for your step son was from the UST. I am pretty certain the US Treasury does not sell dinar. Are you talking about a dealer claiming to be registered with the US Treasury?

  17. Barry 24th December 2012 at 12:48 #

    First of all Rina, you have my deepest sympathies. As for what you can do with your Dinar - as Stew said, probably your best (and most hassle free) bet is to simply re-sell them on Ebay. There's probably EBay & Paypal selling fees involved, but they're not that higher than the "cut" of what many Dinar sellers are taking when buying them back. People sell banknotes on there all the time with, eg, leftover money from foreign vacations.

    You'd be surprised just how many people are selling Dinar now that people are seeing through the deliberate mis-selling hype more. Also note that some Dinar sellers claim to buy-back but don't - it's openly written in their small-print disclaimers (which is further proof that they're not genuine currency dealers!)

    I hope everything works out for you & your family in the future and that you all have a good Christmas. Thanks.

  18. Lorenzo2 27th February 2013 at 08:21 #

    Well people have been telling me for 50 yrs not to throw away my money on things I invested in. In 1964 I started a janitor supply business. Investment $1,000. Sold it in 1965 for 8 million. In 1966 I started a aerospace publishing support business. In 1968 I sold that one for $37 million. That year I started a publishing business. Sold that one in 1973 for $55 million. Then I bought a farming company in California for $1 million - sold that one 12 yrs later for $26 million. In 1985 invested $6 million in a franchise to open retail stores - sold that one for $110 million in 1996. 4 more businesses since then all had tremendous growth in value. Everything I have ever invested in people have told me not to - that technology will become obsolete - bla bla bla. Advice: If you can afford to lose a couple thousand bucks - buy some dinars. You will be thumbing your nose at the jerks on this site as you drive away in your Mercedes heading home to your beach house at Malibu.

  19. Barry 16th March 2013 at 10:35 #

    Lorezo2 - "Advice: If you can afford to lose a couple thousand bucks – buy some dinars. You will be thumbing your nose at the jerks on this site as you drive away in your Mercedes heading home to your beach house at Malibu."

    All that proves Lorenzo, is that you're good at tangible business investments, but either clueless about how currencies & Forex work, or you simply don't understand what the Dinar mis-selling scam is about...

    People will not be "driving Mercedes on Malibu beach" just from taking $1,000, buying $1k of Dinar's and changing them back into $1,000 at a Bureau de Change during a simple currency redenomination as the whole process is revenue neutral by design. That's a lot different to building a tangible farming / retail business that actually has a turnover, a serious business model, makes profit and employs staff...

  20. Bluefish 1st April 2013 at 23:31 #

    Hey Barry, to invest in a war torn country, you buy their currency. Then they revalue when the business comes back, if they have tangible resources . What is Iraq missing besides common sense? Once the Kurds come on board, they will want their dinars at fair value to the $.

  21. Coozbee 2nd April 2013 at 18:29 #

    First of all; Lorenzo you are FULL OF SH*T. If you made money like that, you wouldn't be wasting your time on this website, for any reason. Now about this big HOAX with the Iraqi Dinar. Give it up people
    this will NEVER happen. Those people can't agree on anything. George W. and Cheney, had this planned out way ahead of time. The Irqi's own government official are raping the country of its wealth, and those people don't have a clue about what's happening with their own government. The Iraqi politicians are just hoarding the wealth, and the Iraqi people are still LOST with no DIRECTION. This Dinar thing is a COMPLETE waste of your hard earned money, and this sham will continue for years. PT Barnum said it himself "there's a sucker born, every minute" Be SMART, and save what money you have. Right now the rich are trying to grab all the US dollars they can, join that group, not this make believe Dinar Wealth fantasy.

  22. RayT 2nd April 2013 at 20:46 #

    Hey Lorenzo2:

    Well said! It is very refreshing to have someone with a little common sense posting in here because there are just too many idiots, like Coozbee, who has no clue what he/she is talking about...

    I bet post RV, he/she will not be seen again....

  23. Coozbee 2nd April 2013 at 21:29 #

    Wrong Ray; You must be part of the scam to convince people that these worthless dinars will amount to something. Look at the things going on in Iraq as we discuss this fantasy dinar wealth scam. The politicians are arguing amongst themselves already, probably because one got more than the other on their CUT. All these other businesses are doing business there to reap the profits of the money (and I don't mean the dinar) floating around. I'm sorry to say, that I do know what I'm talking about, I was there for quite some time and the dinar is worthless and will become even more worthless. Please people, for your own sake, don't waste your time on this HOAX. It is a SCAM, that will continue for years, because believe always want to believe in the IMPOSSIBLE and DREAM of fortune. You CAN'T make a FANTASY happen. Now that's "common sense" pure and simple!!!! Sorry Ray, its gonna be harder to sell those dinars. People are so easily fooled anymore, as times get tougher to survive.

  24. Coozbee 2nd April 2013 at 21:43 #

    And Lorenzo, if you made so much money selling these things, WHY are you hanging around on this website, proclaiming that these worthless dinars will amount to something.You scammers work in teams, and now your pissed, because people are not flocking to your scam and buying something that will NEVER amount to anything. Everyone in europe is scrambling to get their hands on dollars, or euros. The dinar is TOAST.
    So now you boys who were making a living on this scam, gotta find a job or a NEW scam. This one is done!!! People ask these questions. Any Company doing business in Iraq, do they accept the dinar for purchases of any kind? yes or no. Simple question right??? Here's the answer: NO
    Why??? Because its WORTHLESS!!!!! Now the BIG question??? Do you want to buy some Iraqi DINAR????? Common sense kick in again (RAY) this one's for you!!!! NO!!!!!

  25. RayT 3rd April 2013 at 00:20 #

    Hey Coozbee:

    Why is it that naysayers like yourself spend so much time on these sites?

    As I said in my previous post, post RV, people like yourself will be hard to find...

  26. Coozbee 3rd April 2013 at 07:55 #

    Hey Ray; Answer those two questions that I stated and prove that I'm wrong. If I am, I will bow out nothing more said. The Dinar is NOT accepted by ANY Company doing business in Iraq. And I would bet $10k, you sell Iraqi Dinars on the side, or for that matter, this is how you make a living. As long as you can KEEP the Scam going, you don't have to find a job, right? hee! hee! hee! Damn, I'm GOOD. Good LUCK selling Dinars NOW!!!!!

  27. Ariana K 15th May 2013 at 14:50 #

    I currently work in Iraq and there is no much use of the Dinar.. I mean, the salaries are in USD, the payments are in USD, the house rent is in USD, the price tags everywhere is in USD and you can pay in USD even the taxis or the old shops in the "Pazar"..
    You guys do the calculations by your self...

  28. Coozbee 16th May 2013 at 07:02 #

    Like I said before, this is the biggest Joke ever played on and the biggest scam ever. This will go down in history as the biggest RIP OFF ever. Because NO One will ever be able to top this one. Ray T, you have been figured out. Good luck with trying to make a living since, people won't be buying that wortless paper any more.

  29. Skairkrow 27th June 2013 at 17:37 #

    Just wondering what you guys think the Dinar will do once the sanctions are lifted? and by you guys I mean Coozbee. Im not talking RV here. but with the sanctions lifted and Iraqs resources returned to Iraqs control won't the dinar increase in value? maybe over time? or do you think the corruption over there is so bad that it will ruin the dinar forever?

  30. Mike 27th June 2013 at 18:10 #

    For those of you who think the Dinar is a scam...You don't have a clue. You have not done your homework. You don't know the facts.
    Find the results of the United nations vote that happened today.
    When you get the big picture, call me. I will tell you where to buy uncirculated Dinar from a dealer that is registered with the U.S. treasury department. This is not an overnight get rich quick event. It was, and still is a part of a 10 year reconstruction plan that is very complex.

  31. Not convinced 28th June 2013 at 01:20 #

    From http://www.un.org "The Security Council voted unanimously this morning to terminate sanctions measures that had been in effect under Chapter VII since 1991, concerning Iraq’s obligations to Kuwait. The Council requested that the head of the UN Assistance Mission to Iraq (UNAMI) promote, support and facilitate efforts concerning the return of Kuwaiti and third-country nationals and of Kuwaiti property that has been seized by Iraq." Explain how this has ANYTHING to do with currency.

  32. Stew 29th June 2013 at 07:24 #

    For a man with a hammer, everything looks like a nail.
    For a man with dinar, everything looks like a RV.

  33. 4aprofit 1st July 2013 at 07:40 #

    Out of the seventh activates the Iraqi dinar

    Writings Saturday , June 29, 2013

    Hours after rid Iraq of the provisions of Chapter VII of money, saw the exchange rate of the Iraqi dinar rise against the dollar.
    According to a member of the Association of private banks Hilfi, the sword, "the Iraqi dinar exchange rate against the U.S. dollar saw a return to a normal pace after the decision to remove Iraq from the provisions of Chapter VII."

    Hilfi said in an interview with reporters that the "rate of the dinar exchange rate against the dollar stabilized at 1210 dinars per dollar," pointing out that the coming days will witness a continuous rise of the value of the Iraqi dinar.

    ills Hilfi that override the provisions of Chapter VII big gain, and everyone became trust in Iraqi dinars, especially in light of the large financial reserves of Iraq. He added that the coming stage will witness a new investment-oriented is turnout companies and investors and citizens to invest in the Iraqi dinar, stressing that the economic landscape readings indicate the presence of a great demand for the dinar will contribute to raising the exchange rate against foreign currencies.

    http://www.kitabat.com/ar/page

  34. LUCKIE ONASIS 9th July 2013 at 08:12 #

    its obvious now that that partial release from ch 7 had nothing to do with an rv. do you know how many gurus have criminal backgrounds in scamming people? like tony the old ptr guy for one, just google it. i would love to turn in 1mil dinars for 1 mil usd. who wouldnt. but common sense should tell someone that okie dont know sh&^. name one time in the last several years that he has been right, about anything. nor does bluwolf who makes post saying its all done, we just waiting on an email, then comes back and makes a post begging whoever has the button to push it cause the world needs it. terryk...why bother. eventhough i disagree with lorenzo2, dont think that because someone is rich that they dont get online. its the internet, who doesnt get online. if he owns dinars, why would he not be on a site like this? it has iraq info and is not one of those stupid guru sites. how many rich people only have one income? after you have traveled everywhere and bought everything, life gets boring real fast. you have alot of time on your hands. so guess what, time to go make more money. dont hate the rich just because you are not rich. thats not fair. Everyone doesn't clock in. Yes, I do have alot of money.thx mama!! humble oil, exxon oil(her old stocks), and apple stocks(some cpu company that was new) left by my grandmother from a second unknown 1978 will(my birth year) that no one knew about till i turned 33(im 35).remember that scene from back to the future with the mailman with the old letter from 1955? lol, greatest day of my life...2nd greatest day of my life. i purchased more dinars than im comfortable to mention from embarassment last jan '12. what a way to show my family who dont have stocks that im not a lazy bum who sits at home and plays ps3 and xbox all day. thats what i was thinking. i sold all but 1.1mil back to sterling here in atl a few months back and took a vaca. Punta cana D.R.(on the bavaro palace resort) is nice, santo domingo is a land fill. i also have a stepmother thats a vp at a major bank. she says she has no idea what a back bank screen is, neither is there any talk of dinar or anything out of the ordinary concerning dinars. dinars are not ever mentioned in meetings. its not a subject at the bank. i try to post what im told at dinarrec*** but it never gets posted. Its sad to see people pouring their hearts out in the post saying they are homeless or about to lose their homes, they need this and have nothing else to look foward to. then okie comes in(after everyone else post that the rv is about to happen)and says its about to happen cause of intel furnished to him. then everyone praises him and the other(especially him)screen names and say that they have tears in their eyes and they love him and he is sent from GOD and praise God etc etc etc. i dont understand how someone can keep believing someone who has never been right before? are they all morons? what facts are there that says iraq HAS to raise its value? How do these screen names know all this top secret info? america has some real security issues if these guys are right. but history has shown them to be wrong. ch 7 was supposed to be it right? why no rv? 10 days to get it done right? why no rv? ive been in this since jan 2012, at some point i just got fed up with rumors, asked for facts, didnt get them, did my own research and sold my dinars. i thought "just in case", but im about to sell back this last 1.1mil too. i got into futures a while ago and made a profit(it wasnt that much)! i cant go buy a bugatti (my new 911 vert is fine for now)just yet but i did go to charleston s.c. for the weekend(its nicer than i thought). the gucci and louis store in the hotel was very different and nice. kinda like a small vegas casino, without the casino. when you travel you always think islands and other countries, well i did, there are some nice cities here ive noticed in recent times. anyway, i dont know what im doing with futures just yet, im a super novice, but thats more than the dinar made me. in my experience, i say dinars wont rv to millionaire levels based on the gurus never being right, and their backgrounds.too many former scam artist. and based on if i remove my pride and greed from the scenario, its too good to be true. find another job or investment. ok well enough babbling for me...im rich, i aint got nothing else to do!!! lol

  35. Not convinced 9th July 2013 at 20:31 #

    And just what does the Vietnamese Dong have to do with the Iraqi Dinar? That war was 40+ years ago and their currency is still worthless. Now all of a sudden after 40 years it's supposed to revalue? It certainly hasn't been 40+ years since we invaded Iraq!!!

  36. John Richardson 11th July 2013 at 09:33 #

    LUCKIE ONASIS - "Its sad to see people pouring their hearts out in the post saying they are homeless or about to lose their homes, they need this and have nothing else to look foward to"

    Agreed. That's probably the sickest thing about the RV scam. They aren't targeting people who know how currencies work or can afford to lose money. They're targeting well meaning but gullible / naive people who'll believe anything that sounds nice, purely out of personal desperation.

    Not convinced - "And just what does the Vietnamese Dong have to do with the Iraqi Dinar? That war was 40+ years ago and their currency is still worthless. Now all of a sudden after 40 years it’s supposed to revalue? It certainly hasn’t been 40+ years since we invaded Iraq!!!"

    The Dong has nothing whatsoever to do with the Dinar other than it's being pumped by the same conmen telling the same worn-out lies to line their own pockets with extortionate currency sale spreads. All these conmen do is trawl the net looking for the top 5 world's weakest currencies with lots of zeroes after them that have been devalued due to past inflation (Vietnam had annual inflation of over 700% - that's the real reason why it's so weak!), and then try and pretend they're "secretly undervalued" and that everyone else is "too stupid to see it" (except of course, the "discerning" salesmen who've made millions selling Dinar / Dong for your $ at less than 20% of what they're actually worth). 😉

    Back in the real world, the Dinar and Dong are already fairly valued given their enormous +75tn Dinar and + multi-quadrillion Dong overprinted money supplies... Some people understand the basic concept of the more banknotes you print, the less each one is worth due to value dilution - and some people never will get it no matter how many times it gets explained in even the simplest terms...

  37. Not convinced 12th July 2013 at 00:53 #

    Yes, they target victims "in the name of God." It makes me sick how religion is used to manipulate people. "God told me..." "God came to me in a dream and said...." I've listened in on one of those "conference calls" about the dinar where hundreds of people are listening and a dozen or so people ask questions to get "proof" that this is the real deal. What's the first thing the call leaders do? PRAY. I'm a Christian myself, and unfortunately, if I find out some other "Christian" has some kind of financial "secret," I immediately think it's a scam. It's really sad. Any true Christian would realize God is NOT trying to make you rich!!! We have to work for what we have in life. It's not just handed to us on a silver platter (not the majority of us, anyway). Why would God give some preacher a premonition about being rich when they're supposed to take a vow of poverty? Wake up, people!

  38. King 24th July 2013 at 20:22 #

    At least the guru lackeys on this site haven't changed their names a million times as they have done on other sites. I go back and forth from time to time just to see what nonsense has been spouted by these fools. If they did their research then they would know that there is no "rate prior to the war" that Iraw has since that currency never had an official international value. Also, that currency is no longer in existence so you can't return to that value. Now this current currencyhas actually gained value since it was introduced and has risen almost a 1000% to it's current value, so I would say that if that was the great RV they were talking about....lol

  39. Coozbee 25th July 2013 at 01:07 #

    Man, I thought this was OVER WITH!!! How many times must a person bang his head against the wall????? This scam will continue to thrive, because dumb asses, still think there is a pot of gold at the end of this rainbow story. Holy SH*T, I thought my kids were naive, people still think this MIRACLE will happen. Doesn't matter about economics, currency and all the other factors involved, people still WANT to believe that they are going to become SUPER RICH, OVERNIGHT!!! Will people EVER WAKE UP?????

  40. King 25th July 2013 at 14:54 #

    Of course they are not going to wake up when the dream is so much better than the reality. As long as I have been trying to snap people out of this craziness I have simply come to terms that not everyone wants to be informed. It's called "blissful ignorance", and they are loving it.

  41. Bethellen 28th July 2013 at 05:52 #

    Okay.....here it is. When I was told about the dinar I was very skeptical. It was an area I was not familiar with...currencies. I was married to a British citizen and his family members made money trading currencies on a regular basis, sort of a hobby. I always found that interesting. So I knew that money could be made in that area, but I did not know how. The dinar caught my interest, so I decided to check it out. Well, with Iraq, it was very different. I did research on my own. I did not listen to anyone in particular, since I learned very early on that most had their own agenda (ie pumping dinar, etc.). Then there were the naysayers with their own agenda---steering people away from dinar so that they would look to invest in other areas, like gold (which has taken a nosedive, thank you-but no thanks). So I decided to go with my own judgement of the BIG PICTURE of the future of Iraq. The future is looking better every day. The United Kingdom reads about our government and laughs at us. We look at Iraq and wonder will they ever get it together. I think they will. Not tomorrow and maybe not next month, but they will get it together enough to move forward. 80% of the population of Iraq was not even living when Saddam was at the helm. The young people want better for themselves and future generations. A good many have smart phones and see what the rest of the world have. The country has the ability to rebuild. They will. I don't have the time or energy to try and "convince" anyone to invest in a country with wealth beyond our comprehension, but what I do have time for is to say......take it upon yourself to do some research. Not what forums are saying, etc., but what the FACTS are. You will be glad you did, because then you will be able to make an EDUCATED decision.

  42. Not Convinced 28th July 2013 at 20:38 #

    Really, Bethellen???!!! How condescending of you to suggest we've not already made an "EDUCATED" decision!

  43. Barry 28th July 2013 at 23:19 #

    Bethellen, most of your post is just a giant straw-man that confuses economic development with currency. It's possible to have a fully industrialised strong economy but weak currency (South Korea, Japan, etc). And it's possible to have a weak economy but strong currency (Greece, Portugal, Argentina, Ghana, Bulgaria, Fiji, etc).

    Currencies don't go up or down based on how many mobile phones you buy or skyscrapers you build (that's GDP). The value of a currency is the total money supply divided by Foreign Exchange reserves (that's why printing more money makes your currency weaker). Iraq has a huge over-inflated money supply of 78tn (78,000bn) Dinar with only about $70bn foreign reserves to back it. Hence the sub 1100:1 value vs the $.

    Bethellen - "I don’t have the time or energy to try and “convince” anyone to invest in a country with wealth beyond our comprehension"

    It's actually quite easy to "comprehend" : Iraq's oil revenue is basically $95bn per year which doesn't even cover their $118bn 2013 govt budget, let alone "support" a ludicrous $78,000bn money supply as "guru's" pump to the naive & clueless. Iraq doesn't even sell oil in Dinar - they sell it in petro-dollars, so oil exports has little impact on the Dinar's value - something many people still cannot grasp after all these years...

    By all means invest in Iraqi firms, on the ISX, etc (which is what investing in Iraq's infrastructure & future genuinely is), but buying a few banknotes and sticking them in a sock drawer hoping they'll turn into $1m is hardly an "educated decision" (and isn't "investing in Iraq" either if those notes don't go anywhere near Iraq...)

  44. Edward 17th October 2013 at 16:08 #

    Barry,Stew,
    I have kept up with your comments over the years and I'm happy I have diversified in Iraq buying CD's at 10% and Stocks that have gained no less than 15% in one year. My best stock is Pepsi Iraq as I'm up over 200%.What will happen when Iraq Revalues it's currency to even .10 usd? Iraq has Banks like Bank of Baghdad that are worth right now $18-20 Billion usd if they were traded on the Saudi exchange right next door. You can buy (BBOB) for 2/10th's of a penny usd per share on the ISX. This does not make sense but why should I care?The time to buy into Iraq is right now regardless if it's currency, stocks, etc...IMO

  45. Edward 17th October 2013 at 16:16 #

    Barry,Stew,
    The ISX has just signed a deal with NASDAC to list companies. What is going to happen to my stocks on the ISX when they open for sale on the US market? I'm certain I'll have a lifestyle change. What is bound to happen with the Iraqi Dinar?

  46. Barry 19th October 2013 at 08:46 #

    Edward, there is no Iraqi "RV" (there was no Kuwaiti "RV" either). It's a total myth invented by scamming Western pumpers which is why no-one else in the world is talking about it outside of RV conspiracy-theory obsessed forums.

    Back in the real world, Iraq are planning to redenominate (3 zero lop) as they've said about 38 times now and openly broadcast on Iraqi TV & printed in Iraq papers to 30m Iraqi's. The Dinar will just move from 1166:1 to 1.166:1 (deleting 3 zeroes), and each of your 25,000 Dinar notes currently at 1166:1 will be exchanged for a new 25 Dinar note at 1.166:1. The maths balances out (as it has to). The only people talking about "rates" are the scammers. The real "new rate" is simply 3 zeroes less of what the Dinar is at now (ie, 1166 -> 1.166). If you have 1m Dinar banknotes, they'll be exchange for 1k new Dinar banknotes with a 1,000x higher value. You won't get $1m for $1k though. LOL. That's what "deleting 3 zeroes" means in reality away from pumper-land...

    Everything priced in Dinar including products & services sold and ISX stocks will change the same ratio. If you own a stock at say 1500 Dinar (at 1164:1 FX rate) it will be repriced to 1.5 Dinar at 1.164 FX rate. Same $ value. If you owned $200 of BBOB, they'll still be worth $200 afterwards. If everything in Iraq simply jumped up 1,000-3,000x in real terms like those pumping the fake RV are claiming with stupid fake $3 "rates", etc, then the price of a loaf of bread (1,300 Dinar) would end up with completely silly international values of $1,150-$3,350 per loaf! Far from being priceless, the whole currency would actually turn into a worthless junk currency overnight as everyone inside & outside of Iraq would universally ditch it for trade due to instant effective hyper-inflation! Think about the sheer stupidity & fiscal suicide of that imaginary "hyperinflation windfall" from Iraq's perspective...

    Edward - "The ISX has just signed a deal with NASDAC to list companies. What is going to happen to my stocks on the ISX when they open for sale on the US market? I’m certain I’ll have a lifestyle change."

    Nothing's going to happen because simply being listed on additional stock exchanges does nothing to change the fundamentals of what the stock or issuing company is worth. A stock's value doesn't derive from the number of exchanges it's listed on, it derives from that company's profit / loss account, balance sheets, etc. And a bank that's worth $18bn is pocket change. Eg, HSBC is worth $2.7tn (ie, $2,700bn).

    In the long run your stocks may grow if Iraq gets a grip of its security situation (the worst in 3 years), but Iraq's redenomination will not give you a "lifestyle change" because the whole process is value neutral by design.

  47. Edward 10th April 2014 at 16:00 #

    Barry,
    You need to update your last editorial as Iraq is not going to redenominate.(CBI announcement)also the CBI has just bought 60 tones of Gold and will dedicate 11 Tones to their mint for sale to the citizen. All for the purpose of de-dollarizing. Their intention is that the citizens use Dinar and get away from the USD. What is most amazing to me is that the Dinar value is still 1/10th of a penny(USD) even with all the Gold (90 tones) now in the reserves. So the IQD rate is totally manipulated and I'm patient enough to wait for an expected R/V in 2014.

  48. Stew 10th April 2014 at 16:54 #

    Edward,
    I'm sure Barry will gladly reply, but I have to ask... Huh??

    You seem to understand that Iraq backs their currency with FX reserves.
    Those FX reserves are made up of foreign currency, mostly dollars, some euros and maybe small amounts of other currencies. It's also made up of Gold and SDRs. If you add them all up Iraq has about 80 billion dollars worth of FX reserves. So Iraq took some of their dollars and bought some gold. I think someone said it was about 5 billion dollars worth. So Iraq took about 1/16th of their FX reserves and converted them from dollars to gold. If you add up all their FX reserves the total is still the same approx 80 billion dollars.
    Why would the value of the dinar change when the value of the FX reserves to back it remained the same?

  49. Edward 10th April 2014 at 17:29 #

    Stew June 29th 2013 was your last post. I'm glad to hear from you as I've been following the debate on this for years now and appreciate your comments from the oposing side. But in addition to my last post Iraq is a country that has virtually zero debt! *0% of their debt was forgiven. What other country in the world has the income Iraq has and Almost zero Debt? None of the naysayers even comments about this as they always seem to be hung up on the reserves in the CBI backing the currency. What about the infrasrtucture value of Iraq? what is it currently appraised at? nobody seems to know. But with the Hundreds of Billions of investment in the Iraq infrastructure over the last 10 years I bet Iraq knows what it's worth! So I'm simply a patient speculator with my diversified Iraq portfolio.

  50. Stew 10th April 2014 at 18:00 #

    I just looked back to see what I posted on June 29th 2013.
    It was:
    "For a man with a hammer, everything looks like a nail.
    For a man with dinar, everything looks like a RV."

    Still true on a daily basis. The gold buy, has to a RV. The new currency with more security features, has to be a RV. This crap has been going on for 10 years now with dinar holders seeing a RV in every news story out of Iraq.
    Sad.

    ps. I've posted many things on this site since then under different articles.