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Have You Heard The Get-Rich-Quick Rumor About The Iraqi Dinar?

yota691
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yota691 Grand Master

yota691

Posted
Posted

Have You Heard The Get-Rich-Quick Rumor About The Iraqi Dinar

Is the Iraqi dinar for real? Find out for yourself…

Talca, Chile

After a week away, I’m really happy to be back down on the farm in Chile. This is one of the most peaceful places I’ve ever been on the planet… and each day, it’s becoming more and more a place where all of the fiat bubble kleptocratic nonsense doesn’t matter in the least.

Central bankers can print all they want, politicians can bicker and spend all they want… down here, it really doesn’t matter. I have more food and water than thousands of people could ever consume, and enough renewable energy resources to power a small city.

More on that soon, let’s move on to this week’s questions. First, Mark asks, “Simon, what are your thoughts on the Iraqi Dinar? I have a chance to purchase $3,000,000 worth of dinar for approximately $4,000 USD. Would this be a prudent investment? Thank you for your input, and keep up the great work.”

Are they selling a bridge too?

Look, I know this is a really touchy subject for some folks… there’s a religious fascination with the Iraqi dinar these days. The prevailing rumor is that the Iraqi central bank is going to revalue the dinar 1:1 to the US dollar, making instant millionaires out of anyone holding the old currency.

This is a get rich quick scheme, nothing more. If you have any doubts, I encourage you to take a trip to rural Iraq and spend time with the locals there. They’ll happily sell you their dinars for hard currency. Are they all fools, trading in future millions for a few measly bucks? Or simply realists who recognize a good scam when they see it?

Decide for yourself. But at least do the research.

[Hypothetically, even if anyone holding dinars does become unimaginably wealthy, I should point out that US taxpayers who realize a profit on physical currency get taxed at ordinary rates, not on long-term capital gains. See IRC section 988 for more.]

Read more: http://www.sovereignman.com/expat/is-the-iraqi-dinar-for-real-find-out-for-yourself/#ixzz1lQAefhqj

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SgtFuryUSCZ Apprentice

SgtFuryUSCZ

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***///

no wonder he's a non-believer, his alluding to "religious fascination" tells me he's been listenin' to the GooRuse and decided that because they're a bunch of hype-masters, everybody holding Dinar must be pitiful, misguided, unfortunate individuals ---

wtf does he care, anyway, easy for him to talk -- he's already got his Chilean eden....

everybody else can go suck eggs, right --? <_<

Butt Nutt.

Edited by SgtFuryUSCZ
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umbertino Grand Master

umbertino

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Me Personally, I've only been invested for a little over a year now but I'm sure that those who have been in this for 7 or 8 years, certainly wouldn't agree that there has been ANYTHING QUICK about it!

Tell me about it......8 loooooooong years and still patiently ( somehow) waiting.....

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old timer Newbie

old timer

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Hey umbertino, you are the song man of dv. do you remember a song about a man on a train or sub way that could never get off. You might not be old enough to remember it. It was a long time ago 30 40 maybe 50 years ago. i can hardly remember it myself. but this ride seems never ending too.

old timer.

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tadams Newbie

tadams

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How is it a scam when you can at any time sell back to the dealers.it is no different IMO then buying a stock your neighbor has told you about and hoping that you make a little profit.this is an investment and if you have over invested that is on you.the maybe totally outweighs the maybe not.

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Nelg Newbie

Nelg

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The writer talks about going to rural Iraq and purchasing dinar from the locals. Sure, they will sell you their dinar! But they have very little understanding of what is really happening to their country and to their currency.

This guy need a through dose of his own prescription: "Do your own research." Only then will he to able to advise an investor!

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umbertino Grand Master

umbertino

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Hang in there my Friend!

I will. Thanks.

Hey umbertino, you are the song man of dv. do you remember a song about a man on a train or sub way that could never get off. You might not be old enough to remember it. It was a long time ago 30 40 maybe 50 years ago. i can hardly remember it myself. but this ride seems never ending too.

old timer.

Nothing of that kind comes to mind right now.....As for being old enough ( or not)... I'll turn 55 in April....

Thanks for the title ( DV Song Man )... It's a Honor for me.

Anyway I'm sure someone here will give you an answer regarding that song.

umbertino, i found it, its called charlie on the m.t.a. by the kingston trio. give it a listen. old timer

Just read this one now......Ok... Here you go....

http://www.youtube.com/watch?v=3VMSGrY-IlU

But talking about trains I still love this one ( about 35 years old ...)

Edited by umbertino
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smee2 Newbie

smee2

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Sounds like this "advisor" has already found and staked out his own little bit of heaven on earth, so he isn't interested in anything he might make on a currency speculation. As he says himself, all that stuff becomes less and less important when he is on his farm in Chile. I would not even ask about investments from him ... he might recommend real estate in Chile, of the agricultural variety.

:)

smee2

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BIGSKY1 Rookie

BIGSKY1

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I subscribe to this guys e-mails, He gives a lot of really good food for thought, secure currencies to own, countries with secure banking, a lot along the thought process Adam brings to us. BUT I will agree with everybody on this thread and this is the first STUPID thing I've seen him say. GO RV

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