Black Market

[kwanvestor]

I just bought some dinar a couple of weeks ago as a speculative investment. As a disclaimer i haven't spent all kinds of time reading old posts as it would be a full time job so this issue may have been brought up before. I had my best friend who is the head oil trader at a huge privately held international co., speak to a currency trader buddy in Switzerland yesterday about whether he had invested in the IQD. He admitted he hadn't even heard of the theory of the revaluation of the IQD. After some basic research he was dubious that such a thing would take place. It didn't discourage me though as i look at this as very speculative and warranting more than basic research. One point he did make was that given the endemic corruption in Iraq, he felt an imminent RV would be telegraphed well ahead by black market money changers on the street in advance. An interesting point and I am wondering if this topic has been discussed before. I'd certainly appreciate anyones thoughts on that.

As an aside, I was kind of shocked that any professional currency trader doesn't know of the IQD RV speculative play.

[TimS]

maybe he is not a very good trader? there are a lot of people who are not very good at thier jobs

[SEB]

IMO..........I am not the sharpest tool in the shed, but the fact that the currency trader had no clue about the IQD in general, this would make me question this persons knowledge and credentials of his industry.

Not bashing, just a thought from little ole me.......

[kwanvestor]

IMO..........I am not the sharpest tool in the shed, but the fact that the currency trader had no clue about the IQD in general, this would make me question this persons knowledge and credentials of his industry.

Not bashing, just a thought from little ole me.......

The currency guy works for the largest privately held company in the US. He works with a decent size currency group out of Geneva. The company trades all commodities, all over the globe. Though I don't know this guy directly, the company is known for hiring good people.

[prettybaby]

I spoke with several financial advisors who said they would not invest because this seemed to be extremely risky. Our personal family advisor said it is a risk not to put too much belief in the Iraqi Dinar.

A few financial advisors had never heard of the investment. They did what I did google it, read about it being a scam, and advised against the investment.

I personally purchased Dinar; having faith that it will revalue. When the Iraqi Dinar revalues I will call everyone that advised against it and let them know it was not a scam.

NOW FAITH IS THE SUBSTANCE OF THINGS HOPED FOR AND THE EVIDENCE OF THINGS NOT SEEN

[TimS]

The point in the original post about the black market may be of some interest.......seems that as this RV gets closer to reality, the more people will know about it including those on the black market. Anyone with boots on the ground should keep their ears open for black marketers suddenly wanting to "buy" up as much dinar as possible instead of selling it.......make sense?

[cenlalsufan]

i hear that they are selling it on the black market for .80 to $1 usd...just what i heard..no link, it was a text..

[kwanvestor]

i hear that they are selling it on the black market for .80 to $1 usd...just what i heard..no link, it was a text..

Was your text from someone in Iraq (ie. firsthand information) or was it from a firend of a friend of a friend? Also, when did you get the text?

Thanks

[cenlalsufan]

it was thirdhand. read it off of someones cell phone...he got it from a close friend who got it from his contact in iraq...dont know why but thats all i have...i have no contact with the other people except through my pastor..he is the one showing me this stuff...

also on timefram of text...saw it last week..

[TBnhispower]

As an aside, I was kind of shocked that any professional currency trader doesn't know of the IQD RV speculative play.

From what I understand the majority of traders have not had Iraq on their radar for the simple reason that they were on the "Terrorists, Do Not Trade" List (actually called by another name) for years. It has only been the past couple of months that they have been removed from that list. Most traders do not take Iraq seriously because they are extremely unstable. Which is exactly why this investment is a long shot for us as well.

[Hooter]

Was your text from someone in Iraq (ie. firsthand information) or was it from a firend of a friend of a friend? Also, when did you get the text?

Thanks

Okie said they were trading on the "backstreets" for $1. Or it might have been TK. All the same.

[007]

I just bought some dinar a couple of weeks ago as a speculative investment. As a disclaimer i haven't spent all kinds of time reading old posts as it would be a full time job so this issue may have been brought up before. I had my best friend who is the head oil trader at a huge privately held international co., speak to a currency trader buddy in Switzerland yesterday about whether he had invested in the IQD. He admitted he hadn't even heard of the theory of the revaluation of the IQD. After some basic research he was dubious that such a thing would take place. It didn't discourage me though as i look at this as very speculative and warranting more than basic research. One point he did make was that given the endemic corruption in Iraq, he felt an imminent RV would be telegraphed well ahead by black market money changers on the street in advance. An interesting point and I am wondering if this topic has been discussed before. I'd certainly appreciate anyones thoughts on that.

As an aside, I was kind of shocked that any professional currency trader doesn't know of the IQD RV speculative play.

As you know Dinar isn't traded world wide just yet. So some of the remote folks out there may not know what's was going on in the mid east. I myself just about dinar just about 9 months ago, eventhough our country, the U.S and UN liberated Iraq about 7 years already. Lots of older folks that I know are very skeptic also when it comes to risky investment, they told me not to get involve. I went aginst their advice hoping they are wrong. I don't count on RV this year, would be great if it happen. I have since learned much about the history of Iraq and knowing that this country has potential to improve their economy thus their money will be publicly traded eventually. I have been purchasing Dinar for the last 8 months.

Don't listen to others but do your own research and only make your own judgement. If you loose you can't blame no one.

my two cents.