The Dinar's Dismal Future: Sell Now (Opinion Piece)

[Goldiegirl]

If someone can pay him to write such a thing like this.. I won't even waste my money to buy or read his book.  Sometimes I feel bad for the dinarians out there, with the news flying like rockets by hamas, the rumors that keeps turning like the guinea pig's wheel, and the pressure of daily lives.. we are all thrown any which way they can spin us.  Hoping with some news, we all can be grounded and not getting too dizzy and finally we all will see the light at the end of the tunnel, even though it's dim but we see it.  We need to encourage each other like the geese formation.  If we are all in this together, let's encourage each other.  My experience has been in this dinar world, I say it again, some gurus have legit info and we just have to know which one.. I learn not to throw the baby with the bath water and the tub lol 

Nadita, he's getting old and drying up.   He needs to make money somehow... There are much better books on the market than what this old dried up man wrote.  :lmao:  

 

The more that happens in Iraq the more these articles will coming flying out. Just gotta be able to read between the lines, which is something I have developed as a skill over the years. Especially when someone puts it in print.

Very true GG, just that some positions aren't worth putting yourself in for any amount

of money.

Nadita, hun, here's some down to earth encouragement.

$100trillion dollars worth of oil.

No one is going to stop that from flowing for very long.

And sooner or later someone in Iraq is going to realize just exactly how to use that

kind of power.

Men like him have no scruples. You can see it in his face.

[Nadita]

Very true GG, just that some positions aren't worth putting yourself in for any amount

of money.

Nadita, hun, here's some down to earth encouragement.

$100trillion dollars worth of oil.

No one is going to stop that from flowing for very long.

And sooner or later someone in Iraq is going to realize just exactly how to use that

kind of power.

 

LGD,

 

Hopefully that someone is the one who is wise and full of wisdom, and has a heart for its people and their well being  that is my prayer for Iraq

Nadita, he's getting old and drying up.   He needs to make money somehow... There are much better books on the market than what this old dried up man wrote.  :lmao:

 

The more that happens in Iraq the more these articles will coming flying out. Just gotta be able to read between the lines, which is something I have developed as a skill over the years. Especially when someone puts it in print.

Men like him have no scruples. You can see it in his face.

 

GG,

 

You mean he is baked in the sun too much so he shrivels like the prunes lol.. you gotta have humor in this ride..  prolly people get smarter and not eating what he writes like they used to. 

[Goldiegirl]

GG,

 

You mean he is baked in the sun too much so he shrivels like the prunes lol.. you gotta have humor in this ride..  prolly people get smarter and not eating what he writes like they used to. 

 

Yes...dried up from being in the sun too long.

 

 

[pudge]

Someone paid him a lot of money to write this article. They are hoping that because he's well known (well somewhat) and is supposed to know something (well somewhat) about investments, that we would believe him and sell our dinar.

 

Yes, that is what he is doing.  He IS trying to get you to sell your Dinar.  That's why he wrote the piece.  The only possible 'return' you will get is a 20% loss and that's if anyone will buy it back.  He evidently is not getting thru to anyone here because you are hanging on precisely for the reasons he gave. 

[Zebra0101]

Well after reading that, I am running to the exchange office and exchanging the deeeenar.   

[chess]

IRAQ IS RE-EMERGING!!.....(have patience, faith, fortitude....throw up once or twice...and enjoy the RIDE!!)................

[SnowGlobe7]

Here is how Hubby and I look at it.....

 

If we sell and get back even half what we paid..OK great....we can take a cruise or something. It would be nice. 

 

BUT if it RV's at even a penny...we would be forever sorry.

 

If we hold on and nothing ever happens...oh well ....not the worst thing that can happen...the money was spend years ago...and technically written off.

 

One of the worst things to live with is regret. Something I work hard at never doing.  Regret can cost you more than this dinar EVER will.

[caz1104]

Thanks Pudge valuable info that's NEVER been put forth.

[thesjeske]

Well so far the author has been correct. The Dinar has not revalued. This is getting old. Always new hopes and promises with the same results...nothing!

[vomer]

These "experts" who always denigrate the dinar revalue never really give a good reason for it to not revalue.  Always the same smudge:  not a trade-ready currency, Kuwait dinar didn't really revalue, blah blah.  They disregard the oil, the rebuilding of the government, chptr. 7, oil agreement, the bringing in of new investors, upgrades to the electronic banking, what else?   They talk like anyone who speculates is a hick.

[R Veyron]

I think that before anyone gets into buying dinar , they do first have to look at the potential reality that this could very well be true. That nothing will ever come of this at all and yes there is so much fraud attached in this investment and that being the gurus. I, however, did my homework and market research and though against my instincts , continued to invest because I did look at their assets and potential growth of their economy and did see that a revaluation or reinstatement is VERY possible, though it could be quite some time before this occurs. Do not invest if you do not have it to invest and yes, do your homework so you can only blame yourself if things do not appear to be going your way and do not fall victim to the pumpers and gurus as they are everywhere telling you just exactly what you want to hear.

[RicknSaudi]

Ok, Sooo, any comments on that 20 shown in the article?

[pudge]

These "experts" who always denigrate the dinar revalue never really give a good reason for it to not revalue.  Always the same smudge:  not a trade-ready currency, Kuwait dinar didn't really revalue, blah blah.  They disregard the oil, the rebuilding of the government, chptr. 7, oil agreement, the bringing in of new investors, upgrades to the electronic banking, what else?   They talk like anyone who speculates is a hick.

 

Those are all valid reasons why it won't happen.  The same could be said of your reasons why it might happen.  Problem is none of the 'positives' you are listing has anything to do with a currency's value.  Oil is completely irrelevant.  All of it is either sold or used in country.  There is nothing left to 'back' any currency even if currencies were backed by commodities which they are not.  Nations benefit from a devalued currency.  Iraq has no interest in artificially raising its exchange rate against the USD.  It would make the Dinar even more worthless. 

 

Speculations of currencies are done by major corporations and banks to hedge against future price swings in currency exchange rates in order to prognosticate and plan for future sales and purchases.  To make money as an investment they have to buy millions of $USD worth due to the very minor fluctuations.  It's no place for the novice investor, especially Dinarians. 

Thanks Pudge valuable info that's NEVER been put forth.

 

Welcome, MommaCaz

[Shabibilicious]

Quick!!!  Call Capt. Sig.......We've a LOPster on the loose.    

 

GO RV, and NO BV

[bobby_cahill]

In all the replies to this opinion piece I'm surprised no one has commented on the LAST paragraph.

That should tell you everything you need to know. No one knows whats going to happen.....especially

the author.

We all know progress is being made in our favor of a good outcome.

Semper Fi

[pudge]

Appearantly he has not been watching the strides Iraq has been making on all fronts as a country over the last month. I say things have never looked better.

 

You mean things look better in Iraq now than in 2008?  I must've missed something

[Shabibilicious]

You mean things look better in Iraq now than in 2008?  I must've missed something

 

Pizza Hut has since laid claim to Baghdad......that's got to be a good thing.    

 

GO RV, and NO BV

[pudge]

Quick!!!  Call Capt. Sig.......We've a LOPster on the loose.    

 

GO RV, and NO BV

 

You certainly couldn't be talkin' about Pudge.  It's been two years since I've talked about lopping.  Doesn't everyone agree that if anything a lop will happen? 

Pizza Hut has since laid claim to Baghdad......that's got to be a good thing.    

 

GO RV, and NO BV

 

Yes it is.  That's probably the most compelling argument I've heard yet for an RV compared to the other jibberish.  When they get a Walmart it's time to exchange. 

[fishing]

He said in his last paragraph that he don't know, just like everyone else. He said it might revalue and that is why all of us are still here.

If I lose on this investment, its my money. I'm holding on, period. Go rv! :)

[umbertino]

Moved it to the rumor section. Not trying to stir stuff up...it was there so I brought it here to get people's opinions.

I do appreciate it, k98nights. Grazie.

Never invest more that you can't afford to lose.

I'm here until the end.!

Patience is a virtue.

True.. But then.. Patience can also be called something else after a certain point on. One should be humble enough ( and put pride aside possibly) and acknowledge it. I know everyone ( has the right to) sets their own limits .

Edited July 28, 2014 by umbertino

[sandfly]

HE IS WRONG ABOUT THAT. SO I WILL KEEP MY DINAR

[Texas1]

It's comical that some can have such views about the dinar..........it's like they've never read an Okie post

[robboys33]

The last line is the best part..."Even though I’ve been warning about dinar buying for years, I have no idea what the Iraq Central Bank will do with this currency. It may very well revalue it in the favor of those who hold it. But it has to go through a lot of anguish and bloodshed before that happens."

 

Now let's all go back to waiting as we are already doing..This information is just like all the rest of the information we get...Maybe good maybe bad but nothing solid..Dinar up's and downs..10 years a running and not "A" end in site!!

 

[yota691]

 7/28/2014 @ 9:18AM  2,381 views                                                                                                                                                                                            The Dinar's Dismal Future: Sell Now

It’s not looking good for the Iraqi dinar revaluation.

For those just tuning in, millions of Iraqi dinars have been sold to “investors” hoping to make a windfall when, and if, the currency is revalued in their favor. No one knows how many people have been sold this tale of overnight wealth since the dealers for these notes are not regulated.

As you’ve probably noted from the headlines, Iraq is in bad shape. Sunni insurgents have taken most of the northwestern part of the country; the central government and army are weak, abusive and indecisive; and the Kurds are asserting their virtual autonomy in the Northeast.

Iraq is basically enmeshed in a brutal civil war without any cohesive social fabric to pull it back together. Except for some military advisers, the U.S. and Western powers are staying out of the country. Iraq could very well break apart into three separate regions dominated by Sunnis, Shiites and Kurds. No one is sure what’s going to happen next.

Where does that leave the untold thousands holding dinars who are awaiting their payday? The endgame may be near for this currency, which probably won’t survive if the country breaks up.

Professor Cory Bunting, director of the Capital Markets Center at Virginia Commonwealth University in Richmond, Virginia, is not optimistic. Prof. Bunting has been watching the situation  and offered me this blunt advice:

“In my opinion, the dinar will never ‘revalue’ to the rate the pro-dinar pundits lead people to believe. In fact, it remains to be seen if the country of Iraq, as we know it today, will even exist in its present form in 10 years time. Many people who currently hold dinars probably view them as a ‘sunk cost’ or a call option on a dream.

If I held dinar, I would sell them back to a currency dealer. You will likely lose about 20% as the bid price ( to sell to dealers) is far below what the price is to buy from them.

As an investor, I would just take the 20% loss and move on rather than sit on a stack of paper that will likely be worth nothing, or nearly nothing, in ten years time. That said, taking losses is hard for most people and hope springs eternal that wealth is just around the corner.”

What, sell a pile of potentially lucrative lottery tickets? Who in their right mind would want to do that?

The reason it’s so difficult to take a loss in dinar is that 1) they were oversold by currency dealers, 2) people believed the “story” that the dinar would be revalued upward, 3) they didn’t cost much to begin with and 4) losses are felt twice as intensely as gains. No one likes to take a loss and move again, although it’s the rational thing to do.

The front of the 20 dinar bill. (Photo credit: Wikipedia)

Although no regulator knows how many investors hold the dinar, Prof. Bunting estimates “that there are around 40 trillion Dinar in circulation and only about 5 trillion actually reside in Iraq so the rest in held by dinar speculators around the world. I guess you could say that the Dinar is Iraq’s largest export product).”

In the interim, heed this advice about currency dealers in general:

• “The Iraqi dinar scheme has been surprisingly long-lived, giving federal and state regulators and nonprofitconsumer groups time to issue warnings about the dinar and other foreign currency investment opportunities. Take them seriously
• Read the prospectus or offering document. You should receive a written statement that provides all relevant information about the investment and the company selling it, including the company’s history, operations, financial conditions, and key personnel. No prospectus? Don’t invest.
• If I buy the investment, then what? Who is going to buy the dinars you have in a drawer in your house? While there are no guarantees in the return of, say, a mutual fund that invests in stocks, you can at least sell it the day after you bought it.”

Even though I’ve been warning about dinar buying for years, I have no idea what the Iraq Central Bank will do with this currency. It may very well revalue it in the favor of those who hold it. But it has to go through a lot of anguish and bloodshed before that happens.

[sandfly]

NO THANKS I'LL HOLD ON TOO MY DINAR