CNBC Article

[kmseeker]

Iraqi dinars: Smart investment or smoke and mirrors?

By Connie Thompson Published: Nov 10, 2011 at 7:57 PM PST Last Updated: Nov 11, 2011 at 8:13 AM PST

Some people looking to cushion their retirement savings are getting tips about potential profits in foreign currency investments. One of the hottest currencies right now is the Iraqi dinar.

Before the Iran-Iraq war broke out in 1980, one Iraqi dinar was worth more than $3 in U.S. currency. Today, one dinar is worth mere pennies. The investment theory is that once Iraq is stable, the dinar value will skyrocket, turning some people into instant millionaires.

Type in the word "dinar" into an Internet search, and you'll find endless websites jumping at the chance to sell you any quantity of uncirculated dinar notes. Many brokers who sell the notes promote the huge profit you can make when the value of the dinar is eventually increased by as much as a thousand percent, or much more.

But state and federal regulators warn dinar investment scams are pervasive. Many of the sellers are not registered as required. There's no official dinar value, so sellers set the price. Counterfeit dinars are a common problem. And you can only redeem dinars in Iraq. Then, there's the fact that revaluation may never happen.

The state Department of Financial Institutions and the Commodity Futures Trading Commission say they get complaints from investors who lost their money. In some case, scam victims have discovered the real looking notes they paid for are fake.

Brokers, financial advisors and economists warn that despite all protests to the contrary, investing in foreign currency - in this case devalued dinars - is highly speculative and extremely risky. If anyone promotes an Iraqi dinar investment (or any investment for that matter), as a having a guaranteed high return, you must accept the fact that there's a high probability you will never see your money again. There is no guarantee. And in the case of fraud or loss, you have no recourse. Bottom line: if you can't afford to lose it all, don't do it.

Komonews.com

Like someone else said, the government had to say something about it before it happened (RV) or there would be some really mad people out there.

[AWLINK]

I'm starting to feel very sick concerning this investment!!!!!!!!!!!!!!!!

[Halo9678]

Instant... only if you were one of the last to purchase some. Fake... do your homework and know who you are dealing with. Likewise, research the currency and know what to look for. Risky... I wouldn't skip a bill or quit my day job but use what you can afford. If you want to take a little risk then expect little gain. Not saying that I couldn't use the money elsewhere but there aren't many investments that are willing to give this type of return. Yes, there are ups and downs but nothing ventured nothing gained.

[jeepguy]

wow what a shocker !!!! fake dinar ------ look if the people who bought fake dinar really were in this investment as a wise speculator ,,, they would have seached out any site like this one d-v- and did a butt load of research before and after they have bought dinar ,,, first off would have been too tell if you have fake dinar or not the first article they would or should have been linked up too right away,,,, and this is also the last page of the WE ARE GETTING CLOSE stories we would be getting from major news areas --- like adam had mentioned ,,,so if you have any thoughts yours are bad look in the forums and ask some questions --------- > beep beep jeep

[4aprofit]

I spoke to a currency dealer who was sent a couple of the fake bills to look at...they said that you could spot them 20 feet away...and that you would almost have to be a blind goat herder to accept one of these things....lol.....and that these are generally passed for payments, to those in areas in Iraq, and on the borders of Iraq, where many are not as fluent and familiar with the currency....and that that there will always be counterfiet currency...but that this currency has such small values, that it is typically easier for these counterfeiters to do the U.S. or other more valuable currencies...that is already more readily tradeable almost everywhere...the trouble versus the logistics, dont make it a very highly desired currency for the majority of counterfeiters right now....but after a revaluation, that could dramatically change...It was also said that they will ride this monkey to death, about it being a counterfeit currency, as to deter speculators from buying it....like much of the other trash that is being put out...for what it's worth...

Edited November 14, 2011 by 4aprofit

[speculatorsRIDE]

Simple folks. Just make sure your notes are real. Here's a link to help you verify. http://www.imageurlhost.com/images/wlw4w030ma60o69jzpu4_dinar.jpg If anyone has IQD notes dated 2012 please post here. I am anxious to know if they are printing 2012 yet.

[R Veyron]

This is a good and interesting article. I have heard from differet areas that there would be more mainstream media stories just prior to any change in the value. I wonder what is prompting these stories as of late ? Why are they choosing now to print and talk about the dinar more ? I am certain that if there were some individuals looking at investing who were considering it , such stories and articles would deter and discourage them, possibly. Maybe this is disinformation and maybe it's not but either way, Im hanging on to my dinar as I know I will get something out of them. It may not be a huge gain but I will at least get out my original investment,

[gjames_54]

Just another way for the US to reduce the number of people from investing in the IQD because they know what it will be worth...Why would CNBC report this? Remember, the news media is filtered and people are always more apt to believe what is being said through the news then to actually utilize their good common sense. In other words....DON'T BELIEVE THE HYPE!!!!!

[Russell M]

I'm not the smartest, I do confess... but if this all is so "risky" or "scammy", then why are counterfeiters investing in it? Only a short term "quicky" would pay off, right? Oh well good thing they're all wrong

[lakeliving]

This is a good and interesting article. I have heard from differet areas that there would be more mainstream media stories just prior to any change in the value. I wonder what is prompting these stories as of late ? Why are they choosing now to print and talk about the dinar more ? I am certain that if there were some individuals looking at investing who were considering it , such stories and articles would deter and discourage them, possibly. Maybe this is disinformation and maybe it's not but either way, Im hanging on to my dinar as I know I will get something out of them. It may not be a huge gain but I will at least get out my original investment,

There have only been a few mainstream news clips but they keep getting posted over & over. This one has been posted 3xs as a video & now as a transcript of that video. This is some news writer's opinion only...don't fret.

[BrokeNoMore]

CNBC. 'Nuff said.

Almost What they say makes me feel more secure, not less.

[R Veyron]

Just another way for the US to reduce the number of people from investing in the IQD because they know what it will be worth...Why would CNBC report this? Remember, the news media is filtered and people are always more apt to believe what is being said through the news then to actually utilize their good common sense. In other words....DON'T BELIEVE THE HYPE!!!!!

I do agree with you. This was what I was asking. Why now are they doing this now ? Offering these articles now ? Im sticking to my original gut feeling I had when I got into this investment in the first place. This is the same gut feeling that Im having now saying something is surely behind this recent activity and it could turn out in our favor.

[RealisticInvestor]

I'm starting to feel very sick concerning this investment!!!!!!!!!!!!!!!!

Don't feel sick. This is not necessarily bad news. We're in a speculative investment. Maybe a 5% chance we make big money. That's not bad. It's not possible to sign up for an investment that is sure to make millions gauranteed. If you bought with hopes there was a high chance of profit that's the scam selling that dealers are hoping for. There's still always a slight chance of nice RV

Just another way for the US to reduce the number of people from investing in the IQD because they know what it will be worth...Why would CNBC report this? Remember, the news media is filtered and people are always more apt to believe what is being said through the news then to actually utilize their good common sense. In other words....DON'T BELIEVE THE HYPE!!!!!

There's no hype here... Everyone needs to understand what the article is saying. I think we can all agree the ways dealers sell dinar is a scam. I felt scammed bc I rushed to buy it after the website bc I didn't wanna miss the RV. Anybody else but before they did their research? That is scam selling. Also I'd say there's a small chance we make a million. People need to understand that when they buy. To me it's worth the risk but it is highly speculative which everyone SHOULD acknowledge.

[pocono]

I do agree with you. This was what I was asking. Why now are they doing this now ? Offering these articles now ? Im sticking to my original gut feeling I had when I got into this investment in the first place. This is the same gut feeling that Im having now saying something is surely behind this recent activity and it could turn out in our favor.

What most of these videos have in common is they start by saying something like We have been getting alot of calls,e-mails,etc.regarding the Iraqi Dinar...

That's what's behind all this recent activity... nothing more..nothing less...Why do I say that? I belong to a business "meetup" group in a major media market...2 of the members are consumer advocate reporters with one being an attorney...I consider both friends as well as business acquaintances and have worked with them on segments concerning defective building products {Chinese drywall, Synthetic stucco etc.} and post disaster price gouging..

Sometime in the next few weeks they'll air a segment on the Dinar for no other reason than they've been getting hundreds of consumer questions...

Will they get all their facts correct? Probably not...Is there a grand conspiracy behind it? Nothing even close..Will there be more and more of these videos and articles in the weeks to come? You bet...Why? Because more and more Dinarians are poking their heads out of Guruland and starting to ask questions..

You can say this is just my opinion and you would be correct,however when this segment airs they wont be waving Saddam era notes as examples...they will be showing the ones they got from me..