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Malcolm Berko: Dinars-for-dollars is a scam


lenderal
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I am going to leave this thread for now - I'm sure others will offer insight, but if you read the comments from the original link you saw this response:

1:33 PM on December 22, 2010

One should always be careful when making an investment of any sort. That being said, don't knock an investment until you know as much as there is to know about it. As Mr. Berko wrote this scathing opinion, there was another opinion editorial written at the Wall Street Journal stating the exact opposite.

"The quality of Iraq's economic management is visible in the soundness of its macroeconomic picture. Inflation is under control at 5% per year, the government budget will likely be balanced with increased exports in 2011, and the Iraqi dinar (soon to appreciate as exports take off) has held steady against the U.S. dollar since early 2009. GDP growth, forecast by the International Monetary Fund to be 11.5% for 2011, is already among the highest in the world, with the investment boom barely in its infancy and the export surge yet to begin."

This negates his point about inflation. It also tackles the stability comment left by hammerman. There is more information in the article titled "The Coming Iraqi Business Boom."

As far as the commission the person would make, I agree that it is a bit of a stretch. There are many banks that offer dinar at face value. Or you can purchase from one of the reputable websites out there. I will freely admit I do have some bias, as I myself am an investor. I in no way invested $10,000, so if it doesn't revalue, then I've lost no more than I would have lost in my investment accounts in a bad market.

Take that for what it's worth and do more research before you make up your mind that it's a "scam."

Pretty much sums it up and this is over a year old.

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Certainly never thought it was a scam or I wouldn't of invested. I did a lot of research on past economies and historical based data before I made the investment. Thank you for supplying positive information as we go up & down the roller coaster. Who knows when the RV will happen one can wonder how a country will function in years to come with a worthless currecy.

You know the old saying opinions are like a*******, I guess this guy has to right something or he wouldn't have a job. He's in my backyard and I just let the dog out and he's hungry_LOL.

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I haven't really posted before. I am invested for some time now. Any thoughts on this guys perspective he's in my back yard. Don't kill the messenger!

http://newssun.sunti...-buy-berko.html

Welcome aboard!, You can believe this kind of stuff you you wan't. But if you really wan't to put your hard earned cash into the biggest speculative "SCAM" market known to mankind, invest in oil futures. You won't need investment advice, you can monitor your progress at the pump. Have a great great day and graceful Sunday. Slay.

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Let me just sayI am a newcomer to this site, and to the dinar. I am very lightly invested, but I am a paycheck to paycheck working joe. My investment, although tiny, was a large chunk out of my paycheck. The reason I bought some dinars, was due to advice of some very intelligent friends of my father. Not to say that intelligent people cannot be scammed...they can, but I think they are more likely to understand all the nuances of this investment. I believe that the dinar will RV. I don't plan to get rich, (I don't have enough dnars for that) but I do plan to help not only myself with this money, but also to help some less fortunate friends and family. Having said that.......................GO RV! :D

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Alls i can say is this, Dear sir if you have convinced your self this is a scam, Please foward me all your Dinar with proof of purchase and i will do your worring for you. I feel so bad that you have this burdon on you i would like to help you relive it. . Also please send me a noterized statement releving you of all rights to this worthless paper called Dinar. Thank you and i will be waiting patiantly for you response , :D

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This is not directed at the post necessarily:

What I find so encouraging about DV members, is that when a question comes up, there is usually someone that can come up with a substantiated answer, or a reasonable rebuttal, and heaven forbid, you get a dialogue about actual information, for better or for worse.

You don't get this on other sites. The only remarks are ty, ur a miracle, bless the day I found you, when can I touch your robe. You never get facts. You get questions (mainly about issues that have been posted over and over and over - if you are watching, how do you miss these things) for a "guru," but usually not facts.

Thank you. I will touch your robe later..........

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I know I am preaching to the choir , however, it seems to me that everyone has to make a decision for themselves whether or not to purchase IQD. As Adam Montana repeats time and time again, "Only invest what you can afford to lose," cause most investments, even from Wall Street, are risky. All Investment Brokers say the same thing - no matter what you are investing in - there is a risk, so "don't bet the farm" on it. Iraqi Dinars are a legitimate currency and there is every possibility and a great probability that the currency will Rv upwards. The lady that was ask by her church to invest over $10K from the git-go might want to think about getting in at a little less investment and do her own research on line and move forward as her comfort level allows. I purchased and read Adam's book, RV Intel: Iraqi Dinar, and it has a wealth of info in it. I highly recommend it. (I do not know Adam and he did not prompt me to promote his book.) Educating one's self to the all the different scenarios of the "cashing in" process is very important to me. A friend turned me on to the IQD opportunity and it took me six months before I decided to invest. There are always "nay-sayers" to any investment opportunity, so you just have to "take the shot" and be prepared to lose. It is like gambling in Vegas. Nothing ventured, nothing gained. Good luck to all my IQD investing colleagues out there. I truly believe that someday, we will all be thrilled that we "took the shot." I am very happy that I am invested in the IQD market. :)

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This is not directed at the post necessarily:

What I find so encouraging about DV members, is that when a question comes up, there is usually someone that can come up with a substantiated answer, or a reasonable rebuttal, and heaven forbid, you get a dialogue about actual information, for better or for worse.

You don't get this on other sites. The only remarks are ty, ur a miracle, bless the day I found you, when can I touch your robe. You never get facts. You get questions (mainly about issues that have been posted over and over and over - if you are watching, how do you miss these things) for a "guru," but usually not facts.

Thank you. I will touch your robe later..........

A green 1 to ya!

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Codeman is 100% correct, if your holding USD your holding the biggest scam ever perpetrated on a so called educated country. :mellow::D:):)

Just blows me away that somebody can think of currency investing as a scam. One might say that the biggest scam of them all is holding USD. Uh oh did I just type that out loud :D

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Geez people the currency isn't a scam its legal tender in Iraq, the scam is that its going to go up 32,000%

its not.....if you make a few hundred percent you did well but that will get alot of you pissed.

Nothing in life is free you have to work for it.

There is a old saying that is always true, if it sounds to good to be true it most likely is and that is the case with the dinar.

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I got sucked in by this guy too when I was a newbie. Maybe because the first time I saw him he was pro dinar, big time! Then, a week later he was saying if you don't sell off your dinar, you're an idiot. Very wishy washy! They call it bipolar now, but he kinda reminds me of a manic depressive roomate I used to have.

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I haven't really posted before. I am invested for some time now. Any thoughts on this guys perspective he's in my back yard. Don't kill the messenger!

http://newssun.suntimes.com/business/2852402-420/dinars-million-dinar-buy-berko.html

Lenderal, first of all, welcome. Hopefully you have read enough posts to realize that this forum is more or less just a chat room with countless peoples opinions and possitive/negative chatter. That being said, I personaly did not get scammed. I dont know how you purchased your Dinar, but I went to a 5/3 bank and my first purchase I got 975,000.00 Dinar for 1,006.12$ (Us dollars). The bank made very minimal off me and in fact was quite disgusted that I was purchasing currency, that in their opinion, was worthless. The only time I ever got a sales pitch to purchase Dinar, was on this site. Im not bashing this site, I kinda enjoy the humor and opinions of other people. The "pumpers" if you will, have been the only closest thing to a sales pitch. I am a level headed individual and not easily persuaded. I check the pros and cons, and if I can afford to gamble, than I make that decision knowing that I could very well lose the money. I was never quaranteed any kind of payback. If you read further posts, you may think people are guaranteeing this investment. That is merely their opinion, and they are entitled to it. At no point whatsoever have I thought this would RV for sure. However, I am willing to make the GAMBLE, that it might. I would kick myself forever if I didnt share a peice of history with this investment. At any point, I can go back to my bank and get a portion of my US dollars back in exchange for my Dinar. The people who feel they have been swindled, are usually the ones who did not take enough time to research and form their own opinion. If you spent your last dime on Dinar, hoping it would RV overnight, than I understand your feeling of being "scammed". This however, is usually the purchasers fault, and not the person selling it to you. If you bought it off a "pumper" for way more than what you can get it for at a bank, then you may feel a little swindled.

I am not at all bashing you, just trying to answer your question. Hope this helped. Welcome to the crazy roller coaster ride, called the Dinar investment!!!! :D:D ............. :blink::blink: ...........

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Comparing to Mexico??? Ok, Mexico exports 2.5 million barrels of oil compared to Iraqs 3 million. The GDP of Mexico is +5.0 % and Iraq is +8.6% with a population of 1/3 that of Mexico. Yes Mexico's exports are higher tha Iraq but when you consider the 111 million people into the mix it washes. AND, the current exchange rate is 12.006 pesos to 1 USD. I would cash out at 12 dinars per dollar in a minute....Tell Malcolm to go BERKO himself.. :lol: :lol: :lol:

Edited by wingsofhope
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Geez people the currency isn't a scam its legal tender in Iraq, the scam is that its going to go up 32,000%

its not.....if you make a few hundred percent you did well but that will get alot of you pissed.

Nothing in life is free you have to work for it.

There is a old saying that is always true, if it sounds to good to be true it most likely is and that is the case with the dinar.

No, you really don't have to work for it, and that saying was created by poor people to keep them from attaining wealth. Here's a more accurate saying, what you have may be to bad to be believed. The dinar will steady at $3.00, it may start low for all the suckers so they can cash in and be broke within a year, but it will rise near Kuwaits currency value.

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No, you really don't have to work for it, and that saying was created by poor people to keep them from attaining wealth. Here's a more accurate saying, what you have may be to bad to be believed. The dinar will steady at $3.00, it may start low for all the suckers so they can cash in and be broke within a year, but it will rise near Kuwaits currency value.

You wouldn't beleive how many BS things I have heard only to be right on my first hunch and find out it was BS.

Why would the poor create a saying to keep themselves poor?

Ok some get there money from parents or the goverment so I guess not everybody has to work for money I guess.....

Kuwait and $3 that would be nice but I highly doubt it.....you can't compare a small little oil rich country to Kuwait to a large very poor country like Iraq.

Heck Saudi Arabia is at .29 cents and they produce the most oil in the world.

If there is a RV I think its more in the .30 cent range and maybe if Iraq gets there act together and can be stable country and fixes alot of the problems maybe in 30 years you will see $3.

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