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Better Business Bureau calls the Iraqi Dinar a Scam??

Dinarkicker

By Dinarkicker,
in Iraq & Dinar Related News

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Dinarkicker Newbie

Dinarkicker

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I got this in an email today, and saw that bondlady name was attached to it, so I contacted her to confirm it. She told me yes, that this is must read and that it is very informative. I read it and yes it gives this investment a boost.

Newshound Guru Bondlady WHEN U READ THIS ARTICLE PAY CLOSE ATTENTION TO WHAT THEY ARE AND ARE NOT SAYING IN IT…I LOVED IT BECAUSE IT SHOWS THAT THE DINAR IS AN INVESTMENT CURRENCY AND THAT ITS SHADY BROKERS OR COUNTERFEITS THAT MIGHT MAKE IT A SCAM NOT THE INVESTMENT ITSELF…SO THIS WAS AN AWESOME PIECE FROM THE BBB...

BBB Warns of Investment Scam Involving Purchasing of Iraqi Currency

Posted: Aug 13, 2012

It seems scams lurk everywhere from travel to the internet, from door to door meat sales and once again investment scams.

The Better Business Bureau is fielding an increasing number of complaints about investment scams involving purchasing Iraqi Dinars.

In Dinar exchange scams, potential investors exchange U.S. currency for Dinar - on the premise that buying the Dinars could be a great investment if the value of the Iraqi money were to increase. It appears that in some cases these companies are not providing the Dinars nor are they returning the money back to the customers.

BBB inquires and complaints have increased nationally. It is extremely important to look into the company that you are investing your money into. This is true with any investment you make. Take the time to find out information on the company and make sure they follow ethical practices and provide the services they advertise.

The BBB offers the following tips to help to avoid investing in a potential Dinar scam:

· Start with trust! Before making a purchasing decision, check out the company at www.bbb.org.

Make sure the company has authentic currency. It is important when working with Dinar to make sure that you are receiving legitimate currency. It is necessary to do some background research on the currency and understand what you should be receiving. It is also important for the company to provide a money-back guarantee in case something happens and you never receive the Dinars.

Make sure the company has a long history. When investing in a company it is important to be able to look at the company history and see that it has established itself over time. By having a long history of business, it shows that this is not a business that will disappear over night or take the money and run.

Make sure the company follows regulations. It is very important, when working in foreign currency, to ensure that the company follows all necessary regulations; including industry, state and federal. These standards are put into place to help protect the consumer, and help ensure ethical procedures. For more information about currency trade regulations visit. http://www.cftc.gov/ConsumerProtection/FraudAwarenessPrevention/ForeignCurrencyTrading/index.htm

Make sure the company is transparent. Transparency is extremely important in a business, especially one in foreign currency. It is important to know who is running the company and where else the company is connected. It is also very important for the business to be up front about the worth of the money and give basic estimates about growth opportunity in the future.

The warning is about buying or selling from/to scrupulous dealers. NOT on the dinar itself, as smart individuals we need to research and act on what we find when it comes time to sell our dinar.

GO RVVVVVVVVVVV

DK

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Dinar Buddy Newbie

Dinar Buddy

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We all agree the IQD is real currency. The folks that feel this is a scam is how they are lead to believe this will deliver a significant return... in the next few days, weeks, IMO, tonight, Tuesday thru Thursday. We see all other investments going through certified, registered, SEC managed processes. Everyone must provide credentials, experience, and are they bonuses, commissioned or salary. These are the areas folks they see and feel the scam... not the actual dinar. :blink:

Let's go RV

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DiveDeepSix Newbie

DiveDeepSix

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We all agree the IQD is real currency. The folks that feel this is a scam is how they are lead to believe this will deliver a significant return... in the next few days, weeks, IMO, tonight, Tuesday thru Thursday. We see all other investments going through certified, registered, SEC managed processes. Everyone must provide credentials, experience, and are they bonuses, commissioned or salary. These are the areas folks they see and feel the scam... not the actual dinar. :blink:

Let's go RV

I'll take my chances with the shady back room dealers over the certified, managed, wall street type any day LOL. The wall street guru's have already done such a bang up job with other peoples money how can they not be trusted now? :rolleyes::lol: :lol:

I wasn't disagreeing with your post about the sales tactics by the way. Just not a fan of the Playa's on the market!

Edited by DiveDeepSix
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skinz Newbie

skinz

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They always say only a few words (if any at all) about the real scam of the investments; The pathological liars pumping the investment. It's always about counterfeit dinars... I wonder how many people on this board have purchased counterfeit dinars? I'm sure they are out there, but I seen of talked to anyone that has.

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DiveDeepSix Newbie

DiveDeepSix

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They always say only a few words (if any at all) about the real scam of the investments; The pathological liars pumping the investment. It's always about counterfeit dinars... I wonder how many people on this board have purchased counterfeit dinars? I'm sure they are out there, but I seen of talked to anyone that has.

Same here, and they are pretty easy to check if they are counterfeit. Besides it seems to me they are cheaper to buy then they would be to counterfeit, kinda the same value as Charmin right now, but hopefully sooner then later we will see where this ride takes us. :D

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Dinarkicker Newbie

Dinarkicker

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i bought mine from Dinar Trade---delarue certification :

printed their UST certificate off their website :

people might be buying from unreliable sources--like on ebay---IMO

Agreed I did alot of research before I bought mine from DT I wouldn't buy from anybody here (if I had the money) or on Ebay JMO

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Doctor Smith Newbie

Doctor Smith

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I have bought both from Dinar Trade and Ebay. Some of the Dinar trade notes look a little crude if anything.

My notes from Ebay were from a seller in Jordan who has been selling for a while with a good reputation. Everyone I ask says it doesn't matter who you buy them from just so they are real.

If I were going to buy more I would probably purchase them from a dealer as prices have come down and the lay away deals are good off one of the sites.

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sandstorm Newbie

sandstorm

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Yeah they have been doing this for about 4 years now. And I too will take my chances with a currency that is still GOOD and rising, with a temporary nominal rate.

Lets just hope they dont release a new currency and demonetize the current iqd after a rd. we need this currency to be around along time to see the kinds of returns we all want. its not the popular opinion, but if it hangs in there another ten years hopefully we seethe magic.

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