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State cautions about trading in Iraqi dinars

misty969

By misty969,
in Iraq & Dinar Related News

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misty969 Newbie

misty969

Posted
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The Wisconsin Department of Financial Institutions is urging people to be cautious about companies offering opportunities to invest in the Iraqi dinar.

The DFI has gotten calls from residents who say several Internet sites claim Iraq’s currency is a good bet for a possible dramatic increase in value. “What consumers are not told is that the dinars can be redeemed only in Iraq,” said Division of Securities administrator Patricia Struck, in a news release. That means dealers can charge whatever they want to sell and buy back the dinars, she said.

Investors should “exercise extreme caution when considering their investment opportunities. They should do their homework,” Struck said.

Read more: http://host.madison.com/wsj/business/article_2eab1ed0-c91d-11e0-a476-001cc4c03286.html#ixzz1VKh8LPhc'>http://host.madison.com/wsj/business/article_2eab1ed0-c91d-11e0-a476-001cc4c03286.html#ixzz1VKh8LPhc

http://host.madison.com/wsj/business/article_2eab1ed0-c91d-11e0-a476-001cc4c03286.html

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easyrider Newbie

easyrider

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Unfortunately they could be right about only being able to exchange them in Iraq.....

Why would they sell them at local banks in the first place if we cannot cash them in there?? that makes no sense. thats a class action lawsuit waiting to happen right there.

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Raleighwood Newbie

Raleighwood

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Why would they sell them at local banks in the first place if we cannot cash them in there?? that makes no sense. thats a class action lawsuit waiting to happen right there.

Actually MJ, if they RD then you can't really go after anyone....they are allowed to only accept exchange in country....its been done before by difff countries and iraq also did it before.....

If there is a straight up RV it might be different but even now a lot aren't buying back dinar.....

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oneremedy Newbie

oneremedy

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Automatically Wisconsin=Cheese...thats so funny, I hear that all the time. I think California actually produces more cheese than WI.

Anyway, back to Dinar. They did mention that when it RVs it can only be in Iraq. I like that they also believe it will RV.

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easyrider Newbie

easyrider

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Actually MJ, if they RD then you can't really go after anyone....they are allowed to only accept exchange in country....its been done before by difff countries and iraq also did it before.....

If there is a straight up RV it might be different but even now a lot aren't buying back dinar.....

its possible yes but im sure many will try lets be honest that wont sit well with anyone after buying from a bank them basicaly selling to their customers and then they cant exchange the very currency they bought it from. Thats pretty devious and downright messed up to me but we shall see. biggrin.gif

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acceb75 Newbie

acceb75

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Automatically Wisconsin=Cheese...thats so funny, I hear that all the time. I think California actually produces more cheese than WI.

Anyway, back to Dinar. They did mention that when it RVs it can only be in Iraq. I like that they also believe it will RV.

Who is "they" and do you have a link?

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easyrider Newbie

easyrider

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Actually MJ, if they RD then you can't really go after anyone....they are allowed to only accept exchange in country....its been done before by difff countries and iraq also did it before.....

If there is a straight up RV it might be different but even now a lot aren't buying back dinar.....

BMW's????biggrin.gif

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Crow Newbie

Crow

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LETS SEE..... YOU HAVE A MILLION DINAR THAT MIGHT..I STRESS MIGHT NOW BE WORTH 3 MILLION....YOU GOTO THE BANK AND SAY YOU WANT TO CASH THEM IN AND OPEN AN ACCOUNT.........THE BANK IS GONNA SAY NO TO YOU??? LOL...OK.....STICK TO YOUR CHEESE AND RECALL CRAP WISCONSON! :P

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eddiemac Newbie

eddiemac

Posted
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The Wisconsin Department of Financial Institutions is urging people to be cautious about companies offering opportunities to invest in the Iraqi dinar.

The DFI has gotten calls from residents who say several Internet sites claim Iraq’s currency is a good bet for a possible dramatic increase in value. “What consumers are not told is that the dinars can be redeemed only in Iraq,” said Division of Securities administrator Patricia Struck, in a news release. That means dealers can charge whatever they want to sell and buy back the dinars, she said.

Investors should “exercise extreme caution when considering their investment opportunities. They should do their homework,” Struck said.

Read more: http://host.madison....l#ixzz1VKh8LPhc

http://host.madison....1cc4c03286.html

guess I'll be taking a road trip..........

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