As Iraq grows more stable, is the dinar a good investment? Experts don't think so.

[dflake]

This a 2009 article, but i found it interesting

Jad BaghdadiAa

Regional Press NetworkAa

Aa

BAGHDAD: Everyone is talking about the Iraqi dinar. Forex speculators and small investors alike are investing in the new currency hoping for big returns.AaAs Iraq becomes more and more stable, more Iraqis, Arabs and foreigners are looking at the Dinar as one of the most promising currency to trade. But is it a hoax or is Iraq's new money really a way to get rich quick?Aa

Currency traders who spoke to RPN recalled when the Kuwaiti dinar Noun 1. Kuwaiti dinar - the basic unit of money in Kuwait; equal 1,000 fils

dinar

Kuwaiti monetary unit - monetary unit in Kuwait

Kuwaiti dirham, dirham - worth one tenth of a Kuwaiti dinar; equal 100 fils

..... Click the link for more information. declined to a valuation of 10 cents after the invasion by Iraq. However, since January 5, 2003, the previous weighted currency basket Currency Basket

A selected group of currencies whose weighted average is used as a measure of the value or the amount of an obligation.

Notes:

A currency basket is commonly used in contracts as a way of avoiding (or minimizing) the risk of currency fluctuations.

..... Click the link for more information. peg was switched to a higher valuation of 0.29963 dinar.Aa

This translates into $3.34 per dinar, the world's highest valued currency. Translating this into an exchange rate transaction, a $10,000 initial investment around the Gulf war would yield the investor a 3,240 percent rate of return of $334,000.Aa

The same expectations loom over the Iraq economy. Rich in crude exports and likely to remain under the guidance of the US, the country is expected to make a rebound and be catapulted into the global economic arena. The improvement and expansion are expected to be reflected in the underlying currency, creating instant profits for the dinar speculator Speculator

A person who trades (i.e. derivatives, commodities, bonds, equities or currencies) with a higher-than-average risk, in return for a higher-than-average profit potential.

..... Click the link for more information..Aa

But experts warn of the many scams surrounding the dinar. "Do a search for Iraqi dinar and you'll find sites that offer forums and discussions that talk about this great investment," Robbie Hallab, a currency trader in Lebanon told RPN.Aa

"In fact, chances are you'll find almost all of the top sites owned by the same people who work together to flood the market with promises of getting rich," he added.Aa

Some ads claim investors may be able to double or triple their money in just a few weeks if they buy right now.Aa

And Americans along with Arab investors are snatching up the Iraqi dinar. "My business partner gave us a tip that the Iraqi dinar would be converted into the US dollar and when that happens the dinar would soar in value," says Jim Lacko out of Pennsylvania. He said it sounded too good to pass up. So Lacko invested a modest $300. But a few weeks later, when he checked the value, it was down to $250.50. While the Iraqi dinar has gone up, vendors can charge up to 50 percent commission. Even banks charge currency transaction fees and without significant appreciation, you will lose money buying and selling back.Aa

Experts say the rumors and Internet ploys are not true. All that glitters All That Glitters (shortened from "All that glitters is not gold", a famous misquotation from The Merchant of Venice, the original line being ) is the name of a number of different works:

* "All That Glitters", the final episode of the

..... Click the link for more information. may be gold, but it comes at a price. The first barrier has to do with pricing. Formally introduced in October 2003, the new Iraqi dinar is virtually worthless, trading at 1,460 dinars to $1.

However, with the dinar still not on the international open market, exchange rates for the currency vary widely. On the streets, the value of the dinar can be as high as 1,500 dinars to the $1. Comparatively, the International Monetary Fund has specified a fixed exchange rate of 1,449 at the central bank of Iraq The Central Bank of Iraq (Arabic: بنك العراق المركزي) is Iraq's central bank. The current Governor of the Central Bank of Iraq is Sinan Al-Shibibi.

..... Click the link for more information..Aa

The discrepancy goes as far as trading companies and dealers, which handle the retail public, quoting amounts as different as 1,050 to 1,356 per $1. The differences in prices can contribute to an unfairly priced market.Aa

"So, the only people getting rich right now are the dinar resellers," Hallab said. "The dinar investors are the ones taking the big gamble with odds comparable to your local lottery," he added.Aa

Granted, the opportunity does exist. However, to buy the dinar or not to buy the dinar at this juncture, that is the question.Aa

Although a highly rewarding opportunity, buying Iraqi dinars on the Internet is a risky transaction. Call it straight-out gambling. Nothing is guaranteed and the risk-reward ratio Risk-reward ratio

Relationship of substantial reward corresponding to the amount of risk taken; mathematically represented by dividing the expected return by the standard deviation. is low. This simple fact will likely keep a majority of traders out of the market. As a result, with varied prices, a handful of participants and plenty of fraud potential, the dinar market is one that has numerous barriers that will likely hang around for a while and attract only those that are misinformed.Aa

"If you have extra cash and believe in long shots, and I mean long, then go for it," a currency trader out of New York New York, state, United States

New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of said. "Otherwise, take your money and invest it in something with better odds."

Copyright 2009, The Daily Star. All rights reserved.

Provided by Syndigate.info an Albawaba.com company

http://www.thefreelibrary.com/As+Iraq+grows+more+stable%2c+is+the+dinar+a+good+investment%3f+Experts+...-a0208238995

Edited October 18, 2010 by dflake

[cris]

experts-shmexperts.....this is a fantastic investment.....buy way low, sell high.....go RV already!!

[KC69]

I just wonder how much dinar the so called experts have?

[Doc31]

experts-shmexperts ... go RV already!!

Ditto

Thanks for the post!

[Dinarmonsta]

First thing that comes to mind reading this is what the gurus had said what type of news that was going to come out ..NEGATIVITY. Well,waddaya know?

[messenger]

I have asked this 2 or 3 times and have never received a response.

So, please answer...has anyone ever heard of Dinar Profits (also known as OdioWorksLLC)?

I purchased my Dinar through them and wanted info on if they are reputable or not?

Thanks for responding.

[dflake]

I have asked this 2 or 3 times and have never received a response.

So, please answer...has anyone ever heard of Dinar Profits (also known as OdioWorksLLC)?

I purchased my Dinar through them and wanted info on if they are reputable or not?

Thanks for responding.

I have no clue who this outfit is. Sorry

[nashdinar]

The copyright on this article comes from AlBawaba(middle east)ltd. My link Ya think those people over there want us to turn away from this??

[Soldier]

Are you can place this reporter with every Financial Advisor in the country. Along w/ every bank president, vice president thats out there. Matter of Fact every person that is rich has said not to invest and it only places false hopes into the people who really wish this would happen. Will even take it further than that. Every so called guru has been wrong many of times. To cover their tracks they tell you not to believe in all the negative speculation about this investment being a scam. So the question is simple. Do you think all the rich wise people are wrong and should you invest your hard earn money where you will actually make money? Are, should you invest your hard earn money into an investment where only the pumpers and like mentioned above traders are making tons of your hopes and dreams? I've been on this website for years battling the so called Pumpers to back up their false misleading and made up rumor information that most of you on here take seriously. I keep my membership to see how new people come in with the same questions only to see them leave and never come back. I have seen tons of screen names and the only people that are still around are the same people who make up these rumors. So I leave this question for you. Do you actually think that the Dinar will RV at 6:1 or 4:1 or 2:1 and were all overnight zillionaries? If so I hope you haven't quit your jobs because your bills will be do at the end of the month and you'll be broke. Let the bashing begin.

[JugDawg1]

experts-shmexperts.....this is a fantastic investment.....buy way low, sell high.....go RV already!!

Experts-shmexperts choking smokers don't you know the jokers after you. Oh , sorry. A little I am the Walrus flashback.

Beatle song for you younger folks.

[quadraph0nic]

Are you can place this reporter with every Financial Advisor in the country. Along w/ every bank president, vice president thats out there. Matter of Fact every person that is rich has said not to invest and it only places false hopes into the people who really wish this would happen. Will even take it further than that. Every so called guru has been wrong many of times. To cover their tracks they tell you not to believe in all the negative speculation about this investment being a scam. So the question is simple. Do you think all the rich wise people are wrong and should you invest your hard earn money where you will actually make money? Are, should you invest your hard earn money into an investment where only the pumpers and like mentioned above traders are making tons of your hopes and dreams? I've been on this website for years battling the so called Pumpers to back up their false misleading and made up rumor information that most of you on here take seriously. I keep my membership to see how new people come in with the same questions only to see them leave and never come back. I have seen tons of screen names and the only people that are still around are the same people who make up these rumors. So I leave this question for you. Do you actually think that the Dinar will RV at 6:1 or 4:1 or 2:1 and were all overnight zillionaries? If so I hope you haven't quit your jobs because your bills will be do at the end of the month and you'll be broke. Let the bashing begin.

What do you think of the info Scooter and Phoenix have provided?

[4aprofit]

IT IS WHAT IT IS....AND WILL BE WHAT IT WILL BE....AND UNTIL THEN.....NO ONE KNOWS???

[MovieMaker]

thanks for your contribution.

[Trimark]

What I find so funny about these types of articles is the argument they give for why dinars aren't a good investment.

These articles never give concrete reasons why this investment won't work like we think it will except to give some variation of 'well, that just sounds WAAAAY too good to be true.'

Some authors will say it's a scam and others will say like the one above that it's just crazy to think such a little investment could provide such a HUGE return but it's all the same too good to be true argument. That's all the so-called experts ever say.

Not one negative article I've read - and I've read a lot of them - gives a solid reason against this investment. They just give someone's opinion. Our opinion is just as good as their opinion if not better because we have solid reasons why the dinars are a good investment and they don't have anything backing up their argument.

And that's all I have to say about that.

[doc9574]

soldier I wonder how many broke people there are in america today because these bankers ( who by the way are taking back in record numbers all of the real estate investments they said were so good), financial advisors and many other experts you mention told people to buy REAL ESTATE. I spoke with my banker before i purchased the dinars and he told me this is exactly how many millionaires made there money. It only takes one good idea, is this it? who knows, i do know this though at any time I want I can sell my dinars for close to what I paid for them. How many evicted families that listened to these rich bankers/financial advisors can say the same. But everybody is sitting here saying "oh don't worry the market will return" at which point these bakers will once again siphon the average persons hard earned money to line their pockets. I do agree with you on one point though, be your own guru if you listen to yourself and can find that "hunch" or gut feeling or whatever you call it you will be led in the right direction. Remember, Mr. Lincoln failed at nearly everything until he became president, Edison failed thousands of times before succeeding at the lightbulb. I don't believe they can keep that currency at the same level,not because some guru said but because common sense says that for them to be competitive in the world market such a huge discrepancy would cause an imbalance (which we seem to be in presently) and needs to be corrected. One question if all these bankers are so good why is the whole world in such a financial crisis? Because THEY have all the money, I feel your frustration though and at least you had the courage to speak up. commendable i must say.

[HarleyOnTheRoad]

What do you think of the info Scooter and Phoenix have provided?

So, with all that I have read ... what is the real story in taking a 25k dinar that I got from Dinar trade into my bank to cash?

[CheckMate]

What do you think of the info Scooter and Phoenix have provided?

===================================================

Well they do more research than most but at the end of the day,.....it's still there opinion.

Thanks guys you're appreciated.

[Marilyn53]

You know what? People scoffed at Microsoft....look where those investors are today. Of course we are dealing with a country that hopefully will soon get their act together. Anything is likely to happen. It is no different than playing the stock market. You either win or lose. But I will say this, if it doesn't happen or something under handed goes on, there are going to be a lot of big business investors, governments and yes the "individual investor" that are going to be highly hacked off. If you can not trust the country, then I imagine not too many businesses will want to open their doors there. And those that do operate from within Iraqi, well, we will just have to get a list of who they are and boycott. LOL...Just blowing off at the mouth! LOL...but I will get a list of business that set up shop there and I won't buy a damned thing that comes out of that country (if I can help it). A boycott can have a lot of power if there are enough people that will do it. Just a thought for a weary mind!

[billio0]

Hello again fellow investors, and all you skeptics/critics too.

The Iraqi Dinar became an investment, at least for Americans, when the President signed an Executive Order allowing us citizens to legally do so. Now, if our government has given us the O.K. to trade in this currency, it is a simple thing to figure that if it were not worth it or was a scam, it would not have been permitted.

The U.S. government places very strict controls on anything connected to its currency. So, to give us permission to use U.S. dollars to buy Iraqi Dinars, apparently there is something of value in doing so. Of course, we may choose to believe what we want about how much this investment will someday bring us over and above what we paid initially.

The obvious point here, and thorughout this forum whether its here or in the rumor section, is that there are many who are frustrated because they feel that the numbers on their dinar should actually be numbers at least representing dollars, rather than what they truly represent, which is only the amount we paid for them, minus the commision we paid to the seller/dealer. Once we all come to our senses about this basic fact, and stop thinking that WE NOW OWN MILLIONS OF DOLLARS, AND THOSE DUMB IRAQI PEOPLE WON'T LET US HAVE IT, we will be much better prepared to deal with this as a true investment.

Let the bashers begin!

[Nelson0528]

You know what? People scoffed at Microsoft....look where those investors are today. Of course we are dealing with a country that hopefully will soon get their act together. Anything is likely to happen. It is no different than playing the stock market. You either win or lose. But I will say this, if it doesn't happen or something under handed goes on, there are going to be a lot of big business investors, governments and yes the "individual investor" that are going to be highly hacked off. If you can not trust the country, then I imagine not too many businesses will want to open their doors there. And those that do operate from within Iraqi, well, we will just have to get a list of who they are and boycott. LOL...Just blowing off at the mouth! LOL...but I will get a list of business that set up shop there and I won't buy a damned thing that comes out of that country (if I can help it). A boycott can have a lot of power if there are enough people that will do it. Just a thought for a weary mind!

Heck no I won't buy an Iraqi product again!

I'd get tired of waiting around all the time for it to actually start working!!

[mi17mech]

I have asked this 2 or 3 times and have never received a response.

So, please answer...has anyone ever heard of Dinar Profits (also known as OdioWorksLLC)?

I purchased my Dinar through them and wanted info on if they are reputable or not?

Thanks for responding.

Kind of late to ask that ?????????? if you already got it through them

Don't you think

Do the checks on your money if it good for that then you shouls have no problems

GO RV