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Are we sure this is not a scam?


DinarWhiz
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Please dont neg me . The wife is really getting on me and I just want others opinions on this article.

http://www.learningmarkets.com/the-iraqi-dinar-scam/

Tell your wife that when the RV takes place, you will pay her the original investment cost, and you will guarantee her that she will not have to spend any of the profits from the RV.

Call me after the RV. We can go to Paris. I know a wonderful bed and breakfast, my treat.

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seriously...you want to compare buying dinar to buying GM stack as an investment.....as being the same risk, the same thing? emot-shakehead.gif Nuff said laugh.gif Now equating it to a lottery ticket, that's more like it....problem is, none of the people pushing the sale of dinar tell you it's a crap shoot.....they keep coming at you with ideas of grandure and untold wealth that has to happen eventually. It does NOT.

Even Adam characterizes this investment as "highly risky" with a chance that it may not RV for a few years, possibly never. That's where you need to get your head at....then you won't hang on every word in the rumor section and fall into the super hyped riches beyond your wildest dream.....our ship has arrived....it's done done done.......cause the bank screen went black emot-LMAO.gif

That is exactly what it is in my humble opinion, a lottery ticket. Imagine a 1 dollar lottery ticket. If you win you get 1000 dollars, if you lose, you can get 75 cents back. That is the logic that keeps me going. The other benefits of owning dinar for savings is that it is harder to dip into so you only recoup some value out of it before the RV if you really need it. My biggest benefit is the hope it gives me that just maybe sometime soon the wait for the RV will be just a pleasant memory while I have another drink with a paper umbrella.

Everyone have a great day, patience and sensibility will see you through.

K

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Tell your wife that when the RV takes place, you will pay her the original investment cost, and you will guarantee her that she will not have to spend any of the profits from the RV.

Call me after the RV. We can go to Paris. I know a wonderful bed and breakfast, my treat.

:blush::o:eyebrows:

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The gurus may have exagerated the potential outcome but remember this: when I bought my dinar I got them at TD bank. I don't think a bank would be involved in a scam. The money is real(value is another point). The probability of an RV is good. The new value is tey to be determined. Is this a scam................no.

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Please dont neg me . The wife is really getting on me and I just want others opinions on this article.

http://www.learningm...aqi-dinar-scam/

Hi Friend. If it's your wife that is worried. Tell her this: Honey this time can you just trust me.

You know that the closer we get the more we will hear bogus articles that would try to deter us.

Shabibi wants his currency to be the most valuable in the middle east. He never speaks out of

turn. This man does what he says. He has already put the plan in motion and we are seeing

the taking up of the higher notes, and next will be the lower denoms. The lower denoms are

more valuable than the currency we hold now. In the country with the lower denoms they will

have more buying power. Outside the country the notes will be revalued.

If she don't know much about Shabibi, then let her read his resume. Tel me if he is not a man

of his word, and that he knows exactly what he is talking about. And "YOU DINARWHIZ" do

not listen to gurus and rumors. Stay grounded with the news. These gurus don't know anymore

than we do. They just want you to believe they do.

Here's the link to Shabibi's resume: http://www.cbi.iq/index.php?pid=TheCbi

Hang in there. We have never been any closer. DO NOT BUY RESERVES. Buy dinars responsibly.

If you get caught up with the gurus, then it's time to turn your computer off.

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Call me after the RV. We can go to Paris. I know a wonderful bed and breakfast, my treat.

End Quote

Paris.. Definitely one of the most beautiful (aestethically speaking) cities I have ever seen....About the Parisiennes.....That's another story, although I can't generalize....But I had a few bad experiences.

Edited by umbertino
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There is a comment on "learningmarkets.com" made by "Networth" that I find extremely wise. Here it is:

__________________

Networth says:

The Iraqi dinar is the perfect storm of financial desperation, ignorance and the internet. It is heartbreaking to see so many people fall for the foolish claims of the pumpers and promoters. A revaluation, as proposed by these people, has never happened in the history of the world. Germany after WWII and Kuwait after the Gulf War were not the least bit similar. But, of course, people don’t know that. They hear “revaluation” and figure they’re all the same. Currency exchange is a zero sum game. Wealth is neither created nor destroyed in the process. It is only transferred. People that believe wealth will be transferred to them through a revaluation of the Iraqi dinar should ask themselves from whom the wealth is going to be transferred. For them to receive the wealth of an RV, someone (or something) else must give up their wealth. Who will that be? The Central Bank of Iraq? The government of Iraq? Why would they do that? Why would anybody? It makes no sense. It’s an absolutely foolish notion. The government of Iraq would not willingly and voluntarily relinquish the wealth of it’s nation. No country would. They may squander it through fraud, corruption and mismanagement. But they would not willingly transfer it. What a preposterous contention. I dearly hope these promoters are exposed as the snake oil salesmen they are.

__________________

I think that every day that goes by I have less and less faith, but that is me. However I would strongly suggest to everyone that is willing to spend some time to read a long page, to visit the site I mentioned above. Very enlightening.

If nothing, I hope that "Networth" post will help others get a better idea or make a better decision about their involvement with this. I made mine. Time to take my losses and move on.

Edited by Packrat
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Hi Friend. If it's your wife that is worried. Tell her this: Honey this time can you just trust me.

You know that the closer we get the more we will hear bogus articles that would try to deter us.

Shabibi wants his currency to be the most valuable in the middle east. He never speaks out of

turn. This man does what he says. He has already put the plan in motion and we are seeing

the taking up of the higher notes, and next will be the lower denoms. The lower denoms are

more valuable than the currency we hold now. In the country with the lower denoms they will

have more buying power. Outside the country the notes will be revalued.

If she don't know much about Shabibi, then let her read his resume. Tel me if he is not a man

of his word, and that he knows exactly what he is talking about. And "YOU DINARWHIZ" do

not listen to gurus and rumors. Stay grounded with the news. These gurus don't know anymore

than we do. They just want you to believe they do.

Here's the link to Shabibi's resume: http://www.cbi.iq/index.php?pid=TheCbi

Hang in there. We have never been any closer. DO NOT BUY RESERVES. Buy dinars responsibly.

If you get caught up with the gurus, then it's time to turn your computer off.

uncirculd, I have never before felt the true intensity of your kindness and intellect folded into a single post. Yours is the very answer that many of us wish we could have given this concerned husband and investor. I have always respected your posts, but this particular reply is both precise and perfect for both the question and the questioner. :) Excellenté, my friend. Fran

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John Jagerson, I’m sure is an intelligent man with credential that many of us do not have. From what he states, he has done a great deal of study of the IQD. He has chosen NOT to invest. His choice. He may have examined the postings of some of the “pumpers” and “gurus” that have tried to keep us excited about this investment, or have out and out lied thru their teeth just to hype us into buying more dinar. Mr Jagerson’s condescending smile as he speaks about the dinar is evidence that he looks with pity and disdain on the dinar investor. His condescension is despicable and makes me reject what he has to say.

But I, too, must be careful.

1. I must not invest more than I can afford to loose.

2. I must not “fall in love” with this investment.

This is the statement of everyone wanting you to invest in their particular investment or of those in the dinar investment. We all know that principle. What I invested a year ago was pocket change! It was not the money for the payment on the car or house or food or utilities or any of the necessities of life. It was discretionary money!

Then there is the “love” of the investment. I will admit I am in love with the possibilities that come from the potential of this investment. Yet at the same time, this is a “thing” a means to an end. I could just as well do without it as have it. Give me another with the potential of producing this type of return and I am out of here. I have no feelings for this investment! It is totally neutral and needs to be treated without emotion. I don’t get all tied up in knots when someone calls it a “scam.” I did my due diligence and know that the person is mistaken. It is no “skin off my nose” if no one else buys another dinar! I am neutral to what they do. I have looked into this investment, have spent my pocket change, and now I am satisfied. If nothing happens, I have very little invested and it will not do anything to my financial standings. Certainly if and when it RVs I will make plenty.

The person that has really been “scammed” is the writer of the article. Take what he says as an opinion piece and go to the next article of news coming out of Iraq or go have a cup of coffee. Have a good laugh and forget about it.

Personally I feel we have our hands on the chance of a lifetime. I am going to hold to my investment.

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There is a comment on "learningmarkets.com" made by "Networth" that I find extremely wise. Here it is:

__________________

Networth says:

The Iraqi dinar is the perfect storm of financial desperation, ignorance and the internet. It is heartbreaking to see so many people fall for the foolish claims of the pumpers and promoters. A revaluation, as proposed by these people, has never happened in the history of the world. Germany after WWII and Kuwait after the Gulf War were not the least bit similar. But, of course, people don’t know that. They hear “revaluation” and figure they’re all the same. Currency exchange is a zero sum game. Wealth is neither created nor destroyed in the process. It is only transferred. People that believe wealth will be transferred to them through a revaluation of the Iraqi dinar should ask themselves from whom the wealth is going to be transferred. For them to receive the wealth of an RV, someone (or something) else must give up their wealth. Who will that be? The Central Bank of Iraq? The government of Iraq? Why would they do that? Why would anybody? It makes no sense. It’s an absolutely foolish notion. The government of Iraq would not willingly and voluntarily relinquish the wealth of it’s nation. No country would. They may squander it through fraud, corruption and mismanagement. But they would not willingly transfer it. What a preposterous contention. I dearly hope these promoters are exposed as the snake oil salesmen they are.

__________________

I think that every day that goes by I have less and less faith, but that is me. However I would strongly suggest to everyone that is willing to spend some time to read a long page, to visit the site I mentioned above. Very enlightening.

If nothing, I hope that "Networth" post will help others get a better idea or make a better decision about their involvement with this. I made mine. Time to take my losses and move on.

You've probably heard the comment that begins, "Don't let the door . . . " It seems to apply here. Bye.

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Hi Friend. If it's your wife that is worried. Tell her this: Honey this time can you just trust me.

You know that the closer we get the more we will hear bogus articles that would try to deter us.

Shabibi wants his currency to be the most valuable in the middle east. He never speaks out of

turn. This man does what he says. He has already put the plan in motion and we are seeing

the taking up of the higher notes, and next will be the lower denoms. The lower denoms are

more valuable than the currency we hold now. In the country with the lower denoms they will

have more buying power. Outside the country the notes will be revalued.

If she don't know much about Shabibi, then let her read his resume. Tel me if he is not a man

of his word, and that he knows exactly what he is talking about. And "YOU DINARWHIZ" do

not listen to gurus and rumors. Stay grounded with the news. These gurus don't know anymore

than we do. They just want you to believe they do.

Here's the link to Shabibi's resume: http://www.cbi.iq/index.php?pid=TheCbi

Hang in there. We have never been any closer. DO NOT BUY RESERVES. Buy dinars responsibly.

If you get caught up with the gurus, then it's time to turn your computer off.

Thank You

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I love the last line in this article.

"This investment is a gamble at best."

No scam here. I never really considered this an investment

More like gambling. What the heck I've lost plenty of times sitting a blackjack table,

With the IQD I'm playing everyday and still have all of my money minus the spread.

Game should come with a disclaimer:

Caution This game has been known to cause high stress levels followed by extreme depression.

Never drive your vehicle while checking the CBI site or worse yet checking the gurus.

May cause sleeping disorders and manic use of internet searching foreign websites.

Dreaming ( of being rich ) for more than four hours at a time should be avoided as permanent

damage can occur.

GO SHABS!!!

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Hi Friend. If it's your wife that is worried. Tell her this: Honey this time can you just trust me.

You know that the closer we get the more we will hear bogus articles that would try to deter us.

Shabibi wants his currency to be the most valuable in the middle east. He never speaks out of

turn. This man does what he says. He has already put the plan in motion and we are seeing

the taking up of the higher notes, and next will be the lower denoms. The lower denoms are

more valuable than the currency we hold now. In the country with the lower denoms they will

have more buying power. Outside the country the notes will be revalued.

If she don't know much about Shabibi, then let her read his resume. Tel me if he is not a man

of his word, and that he knows exactly what he is talking about. And "YOU DINARWHIZ" do

not listen to gurus and rumors. Stay grounded with the news. These gurus don't know anymore

than we do. They just want you to believe they do.

Here's the link to Shabibi's resume: http://www.cbi.iq/index.php?pid=TheCbi

Hang in there. We have never been any closer. DO NOT BUY RESERVES. Buy dinars responsibly.

If you get caught up with the gurus, then it's time to turn your computer off.

Hello unciruld.. here you stated "You know that the closer we get the more we will hear bogus articles that would try to deter us.

Shabibi wants his currency to be the most valuable in the middle east."

there is a flaw in this. He has not stated that he wants the most valuable (but if I am wrong, then I would like to see where he actually did state this, and meant that he wants the highest rate against the dollar in the middle east), but what the CBI HAS stated, was that they have, and desire to continue to have the strongest currency in the middle east. When they state that they have the strongest currency in the middle east, we all know they do not have the highest value against the dollar, but what they do have is a currency that is fully backed 100% by their Fx reserves. This makes their currency very stable against things happening in the region, and so they are in fact much stronger than other nations in the region. Whatever it is they wish to do, they desire to maintain that strength of their currency they currently have. This is what they mean by having the strongest currency in the region.

Their currency outside of their banks is 27.6 Trillion, equivalent to about 23.5 B USD. Their Fx reserves are equivalent to 60B USD, so they have more than 2.5 times the current Fx reserve balance. They can literally double their exchange rate, and still be fully backed by their Fx reserves.

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Hi Friend. If it's your wife that is worried. Tell her this: Honey this time can you just trust me.

You know that the closer we get the more we will hear bogus articles that would try to deter us.

Shabibi wants his currency to be the most valuable in the middle east. He never speaks out of

turn. This man does what he says. He has already put the plan in motion and we are seeing

the taking up of the higher notes, and next will be the lower denoms. The lower denoms are

more valuable than the currency we hold now. In the country with the lower denoms they will

have more buying power. Outside the country the notes will be revalued.

If she don't know much about Shabibi, then let her read his resume. Tel me if he is not a man

of his word, and that he knows exactly what he is talking about. And "YOU DINARWHIZ" do

not listen to gurus and rumors. Stay grounded with the news. These gurus don't know anymore

than we do. They just want you to believe they do.

Here's the link to Shabibi's resume: http://www.cbi.iq/index.php?pid=TheCbi

Hang in there. We have never been any closer. DO NOT BUY RESERVES. Buy dinars responsibly.

If you get caught up with the gurus, then it's time to turn your computer off.

The other point you made is that we already are seeing the taking up of the higher notes. Do you have anything to support this statement as well? I have not seen any supporting evidence of this. Some have stated that they were using the auctions to draw the notes in, but the fact is, if you look at the Key Financial Indicators in the CBI website, the currency outside of the banks actual increased by about 800,000 Dinar from Nov to the end of Dec 2011.

You then also state that the lower denoms have more value. The lowers do not have any higher value than the larger notes. All Dinars are the same per dinar regardless of the note that the dinar is on. If they were to redenominate, then yes, the new lower denominations would in fact have a higher value than the notes we hold, to include the current lower denoms (250s, 50s, etc). The dealers may be charging more for the 50s, 250s, etc, but that means nothing for the official CBI rate, nor do I think that the dealers or banks will actually give you more for your smaller denoms per dinar than the larger notes, so the smallers are a losing situation.

Dinarwhiz.. these are the facts.. and if you want to be sure of where you stand with your investment, I would recommend sticking to the facts, or with verifiable information, it will save you a lot of headaches. I do agree with uncirculd about the reserves.... stay away!! Definitely a bad gamble where you will lose money if you do it. ;) Most importantly though, learn the risks, read up on what a redenomination, and look at the circulation amounts other countries have that have any rate of significance, you will be in a much better position to protect yourself from those that wish to scam you in this investment.

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The other point you made is that we already are seeing the taking up of the higher notes. Do you have anything to support this statement as well? I have not seen any supporting evidence of this. Some have stated that they were using the auctions to draw the notes in, but the fact is, if you look at the Key Financial Indicators in the CBI website, the currency outside of the banks actual increased by about 800,000 Dinar from Nov to the end of Dec 2011.

You then also state that the lower denoms have more value. The lowers do not have any higher value than the larger notes. All Dinars are the same per dinar regardless of the note that the dinar is on. If they were to redenominate, then yes, the new lower denominations would in fact have a higher value than the notes we hold, to include the current lower denoms (250s, 50s, etc). The dealers may be charging more for the 50s, 250s, etc, but that means nothing for the official CBI rate, nor do I think that the dealers or banks will actually give you more for your smaller denoms per dinar than the larger notes, so the smallers are a losing situation.

Dinarwhiz.. these are the facts.. and if you want to be sure of where you stand with your investment, I would recommend sticking to the facts, or with verifiable information, it will save you a lot of headaches. I do agree with uncirculd about the reserves.... stay away!! Definitely a bad gamble where you will lose money if you do it. ;) Most importantly though, learn the risks, read up on what a redenomination, and look at the circulation amounts other countries have that have any rate of significance, you will be in a much better position to protect yourself from those that wish to scam you in this investment.

The dealers may be charging more for the 50s, 250s, etc, but that means nothing for the official CBI rate, nor do I think that the dealers or banks will actually give you more for your smaller denoms per dinar than the larger notes, so the smallers are a losing situation. "

Correct me if I'm wrong

If it RVs at a 1-1 ratio and a 500 dinar note is worth 500 USD couldn't we go to say Vegas and the currency exchanges ( Most casinos ) and turn in a 500 dinar note and pay only the fees and the spread.

You would walk away with Cash!!!!!!! No records since it is under the amount required to give social security number.

As slim pickens once said

Shoot! A fella could have a pretty good weekend in Vegas with all that stuff.

I love this Movie

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The dealers may be charging more for the 50s, 250s, etc, but that means nothing for the official CBI rate, nor do I think that the dealers or banks will actually give you more for your smaller denoms per dinar than the larger notes, so the smallers are a losing situation. "

Correct me if I'm wrong

If it RVs at a 1-1 ratio and a 500 dinar note is worth 500 USD couldn't we go to say Vegas and the currency exchanges ( Most casinos ) and turn in a 500 dinar note and pay only the fees and the spread.

You would walk away with Cash!!!!!!! No records since it is under the amount required to give social security number.

As slim pickens once said

Shoot! A fella could have a pretty good weekend in Vegas with all that stuff.

I love this Movie

:lol: Great video SocalDinar!! Anyway, yes, if it were to somehow defy all rules of economics of somehow just print trillions and trillions of dinars and give them value out of thin air, and allow the current 27.6 Trillion dinar in circulation to have a 1:1 rate of IQD:USD, then sure, if you can find someplace that will exchange it for you like that, like Vegas maybe, than that is great! You still would have taken the hit on the higher cost of purchasing the smaller note than the 25000 note though, so you have to consider that additional cost dealers charge for a 500 over a 25K as a loss, because I doubt a currency exchange will ever give you more per dinar for a 500 than they would a 25K dinar.

That is where the scam comes in. The pumpers out there need to feed you something to believe to create that sense of urgency or hype, so they tell you something like buying smaller dinars is some sort of insurance, where that is absolutely not true. They are either trying to pump for some sort if hype, or they are in on the selling of the smaller denoms where they benefit by you taking that "advice". The simple fact is this, I would challenge anyone to show me where there has ever been a redenomination in history, where a new currency code is released for a whole new currency to be exchanged for the existing (what happens in a redenomination), and they allowed the existing notes to have the same, new higher rate for the old notes as they do for the new notes. It just does not work that way. The lower notes advice was unfortunately poor advice given to a lot of people that now raised their initial cost in their investment for no good reason.

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Call me after the RV. We can go to Paris. I know a wonderful bed and breakfast, my treat.

End Quote

Paris.. Definitely one of the most beautiful (aestethically speaking) cities I have ever seen....About the Parisiennes.....That's another story, although I can't generalize....But I had a few bad experiences.

Then what about Trieste - spring at the sea.

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:lol: Great video SocalDinar!! Anyway, yes, if it were to somehow defy all rules of economics of somehow just print trillions and trillions of dinars and give them value out of thin air, and allow the current 27.6 Trillion dinar in circulation to have a 1:1 rate of IQD:USD, then sure, if you can find someplace that will exchange it for you like that, like Vegas maybe, than that is great! You still would have taken the hit on the higher cost of purchasing the smaller note than the 25000 note though, so you have to consider that additional cost dealers charge for a 500 over a 25K as a loss, because I doubt a currency exchange will ever give you more per dinar for a 500 than they would a 25K dinar.

That is where the scam comes in. The pumpers out there need to feed you something to believe to create that sense of urgency or hype, so they tell you something like buying smaller dinars is some sort of insurance, where that is absolutely not true. They are either trying to pump for some sort if hype, or they are in on the selling of the smaller denoms where they benefit by you taking that "advice". The simple fact is this, I would challenge anyone to show me where there has ever been a redenomination in history, where a new currency code is released for a whole new currency to be exchanged for the existing (what happens in a redenomination), and they allowed the existing notes to have the same, new higher rate for the old notes as they do for the new notes. It just does not work that way. The lower notes advice was unfortunately poor advice given to a lot of people that now raised their initial cost in their investment for no good reason.

I know what you mean. No real evidence that this has happened before but sure would hate myself if it does and was not holding . Thats the reason i got involved. Not the pumper sites.

I have mostly 25 K notes but did buy some 500s ( at a premium on Ebay ) Not to many just 100 K Paid almost double what they are worth so I spent an extra $100.00 No big deal and not

negligable if it does RV

You Know what I mean.

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Hello my Friend, depending on where you bought yours, and How much you paid, you should be able to get at least 85 per cent of your money back, maybe a little more.

A scam would leave you high and dry.

I think for 15 per cent risk, I'll take it, and believe in it, and see what happens,,Life is full of chances, some win, some lose, one thing about this investment, is we are holding currency, from a oil rich country, with plenty of opportunities, should it re-value. I do believe this is an end time saving grace, that will be bestowed upon us , I do believe we have a winner here

Hope this helps you out, Hug your little misses, and tell her you love her, and ask her to Be a Believer with you and follow the yellow brick road!!rolleyes.gif

If they redenominate, you won't get 85% back. You'll be lucky to get 40 or 50% back.

If you lose 60% of your investment, and you bought because someone told you it was going to increase by 100,000% (which has zero chance of happening), you wouldn't call that a scam, because you didn't lose 100%?

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