"You Can't Dine Out on the Dinar (CNBC)"

[HisPlan]

Published: Thursday, 20 Oct 2011 | 10:44 AM ET Text Size By: Kelley Holland

Currency Blogger, CNBC.com

Readers keep sending in questions about the outlook for the Iraqi dinar. ( I like this reporters peaked interest?)

It's cloudy. Really cloudy.

For several weeks now, readers have been emailing to ask whether the Iraqi dinar [iQD=X 1167.00 --- UNCH (0) ] is a good investment.

I've written about this before, but I'll say it again: the Iraqi dinar is the subject of a variety of scams, and regulators and watchdogs are sounding alarms. The Connecticut Better Business Bureau warned investors to stay away in late September, and in early October came word that the state of Colorado ordered AmIraq Fund, L.P., to stop selling investments in Iraqi money. (AmIraq agreed to comply with the cease and desist order, but neither admitted nor denied wrongdoing.)

If someone has been telling you about the rosy prospects for the dinar, please, please, be careful. It's almost certainly too good a story to be true.

Tracking CurrenciesEUR=X1.3880.0106+0.77%GBP=X1.59490.0157+0.99%JPY=X76.15-0.68-0.88%CHF=X0.8839-0.0109-1.22%AUD=X1.03370.0111+1.09%

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http://www.cnbc.com/id/44974540/You_Can_t_Dine_Out_on_the_Dinar

[mrref]

This has already been posted....Thanks anyhow

[Mongo]

Sure you can

[bluejay]

Send back to them, soon you won't be able to dine out on the USD either...And anybody who thinks that this is advice on the investment is not educated about it....I'm not bashing the poster here. The IQD is an investment and any investment has risk, most of us here understand the risk with the IQD...But how can the upside potential be destroyed buy a claim you can't buy a meal with it today...Well if I were to sell my Dinars back I can buy enough meals for a year....Stay calm don't let the nay sayers get the best of you..Something will happen at some point and I doubt you will loose your money at worst..

[sweet C]

Sure you can

. This picture is racist and offensive.

[pudge]

Send back to them, soon you won't be able to dine out on the USD either...And anybody who thinks that this is advice on the investment is not educated about it....I'm not bashing the poster here. The IQD is an investment and any investment has risk, most of us here understand the risk with the IQD...But how can the upside potential be destroyed buy a claim you can't buy a meal with it today...Well if I were to sell my Dinars back I can buy enough meals for a year....Stay calm don't let the nay sayers get the best of you..Something will happen at some point and I doubt you will loose your money at worst..

To the "RV" crowd, the Dinar is more an emotional investment (like "Tulip Mania") than an economic one. People aren't buying because they've sat down and done the impossible maths - they're buying because others encourage them to "not miss out", who in turn are encouraged by others who say the same thing, all in a chain leading back to the pumpers who make their money not holding Dinar - but from getting rid of them!