Dinar Scam ... what it is, what it isn't

[smee2]

Dinar Scam ... what it is, what it isn't

There are a lot of misconceptions surrounding the "dinar" investment, especially in the "scam" department, but also in our own investor community.

The biggest one, and most disturbing to me personally, as an investor, is that the other investors don't seem to understand what the "scam" is proclaiming.

This may surprise you but I want to start with the investor misconceptions. It is fairly obvious what the investors automatically think when they hear "dinar scam" by the way in which they defend their investment ...

"I bought my dinar from a bank, so it is legal. Does that sound like a scam?"

"This invstment has been ongoing for over seven years. Does that sound like a scam?"

"I can resell my dinar at any time. Does that sound like a scam?"

There are, I am sure, more, but let's deal with these ... okay? okay

So, let's look at the "scam believers'" assertions that this is indeed a scam, and more importantly, what they are NOT saying about the "dinar scam"..

They are NOT saying that the dinar is illegal, they know you can buy it legally, else how could people be buying it for so long? And bank employees may believe it is a scam even though they continue to sell the dinar in some banks, so they may believe it is a scam, but not that the dinar are illegal.

They are NOT saying that this is a "get rich quick scheme, at least not the ones who are aware of the length of time it has been ongoing. In fact that very length of time is part of what amazes the scam believers who cannot believe that rational people would be "taken in" for so long a period of time. They may be saying this is a "greed induced hoping to get rich disproportionately to investment" scheme, but not "get rich quick".

They are NOT saying specifically that dinar holders cannot sell their dinar at any time. What they ARE saying is the first point of their side of the "scam argument."

Ready?

What the scam believers ARE saying is that the dinar is not resaleable "at the rate investors believe". And let;s face it, the return does seem very high, too high, to be for real. Most people follow the "be safe not sorry" adage and will not invest, even surplus funds, in something that seems to good to be true. Well, at lesat those who believe we have fallen prey to a scam seem to believe in that adage. It is reasonable for them to think this and very hard to refute. They are hard working, typically paycheque to paycheque people who have neither the options, nor the guts to take certain steps, that would get them invested. They are not investors. They don't understand what we are trying to tell them, as we have trouble sometimes telling it ourselves. Not understanding makes them afraid and people who fear put up barriers or strike back. Usually they will also feel somewhat negative towards the investors because they are not, cannot, or will not invest themselves. What if we are right and they lose out. Better to foster the scam theory and not have to think further about it. Just human nature here, folks.

They ARE saying the time we have had this scam going on is ridiculous and when the truth comes out all of those who believed in it, and threw their money into a deep dark hole, will be very sorry we wasted so much time in an investment that didn't pay off. The dinar discussion, especially the scam belief, has reached epic proportions, scandalous proportions. For them the next major scandal is the Dinar Scam.

But this is the big one. They ARE asserting that when the time comes, it won't come. That there will be no RV if they even understand that is what we are investing in, the RV. Most people who automatically side with the scam believers don't even know what the RV is, or how it will change the economic realities of this world. And should the RV happen, they ARE saying that the amount we might make will be a very small fraction of what we are expecting. Again it is the "too good to be true so it can't be" scenario.

"If it was that easy everyone would be doing it." "Yes, scam believers, that is true. So why aren't you?"

Those who think we have been hoodwinked into investing good money to a bunch of thieves and crooks and have already lost it with no hope of making it back, believe what they do because they don't listen to what they are being told, by us. Because they don't listen to what we are telling them, preferring to believe the scandalous version put out by those who enjoy doing that. It is another fact of human nature that most people prefer the terrible news, will slow down to see who got squashed in the accident on the highway, believe that nothing good can happen to them so why should it happen to someone else.

So, breaking it down, the scam believers believe as they do because they have not listened to all they have been told by investors. They have chosen to believe what they do.

Dinar investors, on the other hand, have come to the investment for many different reasons. Some have done due dilligence, being in a position to invest and looking for the right investment. Some had it fall into their laps, such as the men and women of the military who served in Iraq, heard and saw and paid attention and have benefitted in that way. Some were fortunate enough to be second generation investors, getting the word from friends who were already invested. Nice to have friends who will share the good stuff in life. And some are just B.S Lucky! But all are in it together.

And that, my dear fellow investors, is where we are now. When we hear about the "scam" we must realize what the scam believers believe and why. We have two choices. We can just walk away and ignore them, which isn't easy I will admit. Or we can try to educate them, which is even more difficult in most cases.

If it is US vs THEM, it is up to us be steadfast enough, and confident enough, not to let them shake our belief in our own judgment, and our investment. It's up to you and me.

And I guess that is it.

GO RV GO ... hahahahahaha

smee2

[seabee82]

To people unwilling to do their homework, or to speculate, I am sure they do believe it is a "scam". To me after reading all I could find, pro and con, I bought some dinar. I would rather own some on the chance it will RV, than not and say I should of bought some. Thank you for your post.

[fnbplanet]

Thank you, Smee. I've been trying to explain this dinar RV concept to the wife, and the perfect phrase came to me in the middle of your post:

IT'S A GET RICH SLOW SCHEME !

[TexasFisherman]

Ya know, what you say is true it is just that many of us do not want to believe this could be. Scam and all I mean. I am one of them. I want to believe it will RV at a great rate (at least something abov e what I paid) but I am realistic enough to have only invested what I could afford to lose.

Oil wells have made many an investor very rich and have fleeced many an invester as will. To me this is my chance at an oil gusher or a gold or diamond mine. I am a believer and am waiting. Patience has never been a virtue of mine but I am learning with this investment.

Come on RV some of us would just love to get on with our life and would like to never have to look at web sites like this again.

[chuckray]

To people unwilling to do their homework, or to speculate, I am sure they do believe it is a "scam". To me after reading all I could find, pro and con, I bought some dinar. I would rather own some on the chance it will RV, than not and say I should of bought some. Thank you for your post.

great post--i took a chance--bought 3 million--just in case it does go up--not too worried about " RV this monday "

[smee2]

I posted this rirst on the "contest" thread and was told to move it to its own thread.

If you enjoyed or appreciated, and I hate to actually ask, but could you give it a plus? please?

I would like the VIP membership offered as a prize but don;t see it as a profitable investment (hahahahaha) just now when the RV seems so close.

Just asking ... geez, that is hard, asking for something. I never do that!

smee2

[AudiS4]

Good writeup, meowface!

I'm thinking the dinar scam is even more of a scam than this (sarcasm):

Hello.

We are a web designers/programmers team. We locate at Moscow, Russian Federation. Currently, our team works for several US companies and we feel difficulties in getting our wages. They're to pay us but they don't send money directly to Russia, because companies we work for pays us by direct deposits available in USA and Canada only. Reasonable question: why don't they pay you by checks? Yes, they could, but here in Moscow is really hard to collect on the american checks (enormous commission fees and it takes 2-3 months). We realize that you can't provide your current bank account. So, if you are ready to help, would you be so kind to open a new zero-balanced checking account where they could send funds. After, the following details would much appreciated:

1. Bank name

2. Bank address

3. Account owner

4. Account number

5. Bank routing number (usually in Fedwire system)

So, when our employers are getting the information they will initiate the transfer. When the bank transfers are completed your assistance is needed once again to transfer the money via Western Union or MoneyGram (it is not the best (profitable) way but it's the fastest one).

Finally, we have to solve the problem regarding your interest in this deal. We suppose you should get an interest in this business and we can offer you a good compensation for your help. The sum is variable but usualy no less than 2000 a week (approx.). Any suggestions?

Thanks much in advance

[HYDRANT]

GOOD POST SMEE,I AGREE

[BanG]

If it is a scam then hats off to the Iraqi's, I fell for it HOOK LINE AND SINKER! Over 20 million Dinars in current holding. BUT! When I began this quest I remembered something my dad always told me about investing money in the Stock market or whatever you choose to invest in and that was " NEVER SPEND WHAT YOU CANNOT AFFORD TO LOSE " God Bless the man he has always been right for me.

[venetia]

Thank you, Smee. I've been trying to explain this dinar RV concept to the wife, and the perfect phrase came to me in the middle of your post:

IT'S A GET RICH SLOW SCHEME !

I like that phrase.......very good!

Smee.....I've given you your deserved plus......I couldn't agree with you more.

[djf]

I have another idea for the scammer believers. I heard about the Dinar from our Congressman at a town hall meeting where he said that he thought it was a good chance for his people to make some money to get out of debt and help with our State economy. That my friend, cannot be a scam!

[jrcrna]

Thank you, Smee. I've been trying to explain this dinar RV concept to the wife, and the perfect phrase came to me in the middle of your post:

IT'S A GET RICH SLOW SCHEME !

that is a great approach. It seems logical that the currency will increase in value slowly, and ONLY AS THEY (GOI) CAN PROVE, that they can bring oil in large amounts, to market!! The value of their natural resources in undeniable. The big question is can they capitalize on said resource.. jr

[salespro]

Thank you, Smee. I've been trying to explain this dinar RV concept to the wife, and the perfect phrase came to me in the middle of your post:

IT'S A GET RICH SLOW SCHEME !

Yeah but...we will get rich soon

[smee2]

Thanks to everyone who gave me a plus for the "editorial" ... appreciate your support.

smee2

Thanks to everyone who gave me a plus for the "editorial" ... appreciate your support.

smee2

[The Eagle]

I went to my local BofA branch this morning to close an old account. The manager saw me and quickly motioned me into her office (it was very busy in the bank). She said that she just got word from BofA Corporate to warn anyone that inquires about Iraqi Dinars that the Dinar was a "total scam - total!". She knows I have Dinars and felt that I had been scammed. She paraphrased the email message but wouldn't show it to me (makes sense). When I asked her for some proof she said the email instructed her to point people to Google search. I also asked her about excess money that banks are claiming to have in their vaults. She said that BofA was reducing the amounts of cash on hand, not increasing it. It's hard to believe that my bank is that poorly informed about the Dinar. Ignorance certainly is bliss.

[eddieisme]

"greed induced hoping to get rich disproportionately to investment" scheme, but not "get rich quick".

Now that's funny.

Great post.

[Carrello]

Smee2, you get a +1 from me.

Thank you for all of your posts. Keep warm in Canada.

Carrello

[Annastasia]

Give it a rest on the Dinar scam.. Because if you don't know anything about the Dinars then you shouldn't be on this site.

[smee2]

Give it a rest on the Dinar scam.. Because if you don't know anything about the Dinars then you shouldn't be on this site.

Oh, but I DO know about dinars. I have mine stored in a canvas reusable grocery bag and hiding in a kitty litter box (box of new kitty litter, not the box the cats use) under my bed.

I am not pushing or promoting the idea of a dinar scam. Perhaps you thought I was. Not so. Sorry. I am simply trying to get people to understand what it is that people believe is the scam element here. Too many people think it is the dinar itself that is the "scam" element but it isn't. I won't explain again though I was about to. Just reread the post if you need further clarification.

And thanks for your opinion. Without dissenting opinions I suspect this would be a fairly boring place. but it won't be boring with posters like you around!

smee2

[doc9574]

Good post smee although I will have to say I nearly fell off my chair laughing when Audi called you meowface :lol: :lol: :lol: Gave you a plus1, you have my vote for the VIP Ive taken many risks, lost thousands of $ and oddly enough i lost the most on what was supposed to be a slam dunk but you know what Ive learned from failure, it wont kill me. When the Dinar was first reintroduced it was at 4000/ $ now its 1150/$ and that was with Iraq in shambles , imagine what it will be when they actually can find their $%^ without a flashlight and expensive radar.wooohoooo, theres oil in them hills boy, black gold, Texas tea. Your definitely part of the family

[caleb08]

I also invested in 2 million dinars. I used to get good oil royality checks[ not big money checks but enough] and this to me is just like the oil royality checks a chance. Another reason I invested is because I have a better chance of getting money back from the dinars then the people I have loaned money to.