Dinar talk on Neal Boortz

[firefloor]

I was listenining to Neal Boortz this morning and he mentioned talking about the Iraqi Deenar ( how he pronounced it ). I only heard one caller talk about it with Neal. Did anyone else hear anything else from the show? I thought I heard him mention another caller named million dollar babe that was on the show? Don't we have a million dollar babe on DV?? Neal was neither negative nor positive about the subject, but mentioned that the internet was full of scam reports, but was neutral about the subject.

Firefloor out

[Snickers77]

When people call this a Scam ... do they every explain HOW its a scam? Its so easy to label it .. but ive yet to hear anyone explain it out.

[Wassaap]

For instance...a Japanese businessman recently paid like $25,000 for a million Dinar, when you can still pick up a million from a dealer for AT MOST $1260.00 or so. There is a guy printing articles about not being able to cash out except in Iraq, and his deal is to get you to put YOUR Dinar into HIS account so he can help you with that. There are some folks selling the old, Saddam Dinars...and I suppose there are folks that confuse those notes for the current ones. Then are the squads of people being signed up for a whole list of financial instruments that they might not need, but are contracted into. Aside from counterfeiters, the currency itself is legitimate and untouched.

[Darin]

For instance...a Japanese businessman recently paid like $25,000 for a million Dinar, when you can still pick up a million from a dealer for AT MOST $1260.00 or so. There is a guy printing articles about not being able to cash out except in Iraq, and his deal is to get you to put YOUR Dinar into HIS account so he can help you with that. There are some folks selling the old, Saddam Dinars...and I suppose there are folks that confuse those notes for the current ones. Then are the squads of people being signed up for a whole list of financial instruments that they might not need, but are contracted into. Aside from counterfeiters, the currency itself is legitimate and untouched.

You covered a lot there.

To add to the list:

Some people were being sold counterfeits (Via ebay mostly) from what I have heard.

The scam(s) are based upon price gouging & counterfeit bills.

Heck! We could use your good old printer/copy machines and go over to other countries and pass fake bills with ease, since I am sure most of them are unaware what to look for. In the similar case, the same can be done over here for those that are misinformed. The scams are mostly based upon that particular information.

Banks deal with this currency.... Some people may believe the IQD is a scam however on the idea a RV will never take place. This is an investment and it has its ups & downs. Just like any other investment, do not invest more than you can afford to lose. If it goes south, we may all be out of the $ we invested. However, w/ the U.S. backing Iraq and the economy growing, I do not feel like that is something to fear.

[sortarius]

For instance...a Japanese businessman recently paid like $25,000 for a million Dinar, when you can still pick up a million from a dealer for AT MOST $1260.00 or so.

This could have a grain of truth to it. Doing a quick currency converter search on Google, I found that 1260 US dollars = 104,277.6 Japanese yen. I dont know how much people bought dinars for 7 years ago, but I know they were cheaper. It could be that this started as fact or close to it, and over the years the numbers and currency type has changed.

Just something to consider.

[pintek]

This could have a grain of truth to it. Doing a quick currency converter search on Google, I found that 1260 US dollars = 104,277.6 Japanese yen. I dont know how much people bought dinars for 7 years ago, but I know they were cheaper. It could be that this started as fact or close to it, and over the years the numbers and currency type has changed.

Just something to consider.

I paid right at $850 per million in 2004.

[DarkStarrDinar]

How can you LOSE!!!! We r buying money that is worthless right now. If it goes to five cents you've made a profit. Maybe not the """ Millions""" everyone is hoping for but this is basically a win win investment. If a loss does come about it would have to depreciate to the millionth degree. JMO

[Fummins]

How can you LOSE!!!! We r buying money that is worthless right now. If it goes to five cents you've made a profit. Maybe not the """ Millions""" everyone is hoping for but this is basically a win win investment. If a loss does come about it would have to depreciate to the millionth degree. JMO

Easy, if you have bought your Dinar from a currency dealer try to sell it. Odds are you lose money. Make sense?

[speculatorsRIDE]

Easy, if you have bought your Dinar from a currency dealer try to sell it. Odds are you lose money. Make sense?

If you bought your Dinar from a currency dealer it means you will have to hold it longer to recognize a profit only if it gradually increases in profit. However, I still believe that it will reevaluate at a price that all will make a profit immediately. Time will tell which of us is right.