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Dinar News ABC New Story on the Dinar...

Beantown

By Beantown,
in Iraq & Dinar Related News

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XXX Newbie

XXX

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Some investors exchanging U.S. dollars for Iraqi Dinar

MID-MICHIGAN (WJRT) -- (02/24/10)--Some say it's an investment with big returns; others say it comes with big risks.

Either way it's a growing trend: exchanging American money for the Iraqi Dinar. People are banking on the money being worth more if the Iraq government stabilizes.

If you enjoy the sheer luck of playing the lottery or the roller coaster ride of the stock market, then your new fix could be the Iraqi Dinar.

They are colorful bills that some investors are buying in bulk at local banks or online. They're banking of big pay out down the line.

(Copyright

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Dancer Newbie

Dancer

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You know, I hear all the time there is a big risk in purchasing the dinar, however how much lower can it go from .0008. You can cash it in at any time and maybe loose a little in fees, but I can't see the great risk at this time. However, I can see where there is hugh potential to earn some money. At any rate, I must say, I have learns cadoodles of information and had a great time getting to know folks on all of these sites I visit. Good luck everyone, I hope the RV is soon. By the way, great find on the interview.

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NotReallyTex Newbie

NotReallyTex

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http://abcnews.go.com/US/story?id=2448772&page=2

Betting Millions on Iraqi Money

Internet Scam or Smart Investment?

The deutsch mark's rise after World War II, with West Germany rising as the economic phoenix from the ashes of a vanquished, oppressive regime, is also a point of comparison for the dinar investors.

The Threat of Civil War

But these lofty historical parallels often seem further out of reach, especially as military or diplomatic leaders worry openly about a descent into full-scale civil war in Iraq. Rather than history repeating itself for the benefit of investors, increasing sectarian violence suggests Iraq could be closer to James Joyce's maxim, that history is a nightmare from which we are trying to escape.

Reaction to the growth in sectarian fighting has varied among the dinar-holics. Some have crumpled in the face of overwhelming negativity. A member dubbed "Skillet" wrote with almost paranoid exasperation on the Iraq investors message board that "Since I made the move to invest, I have come to the realization that quite possibly this could be yet another ploy to take advantage of the American people."

Others remain optimistic but increasingly cautious. Forum member "Ferrari500" of Columbus, Ohio, told ABC News that although "I know we won't make the millions we were told we would," he still expected to make "some serious money on my investment."

Another Ohio investor wrote that he took a similar but humorous approach. "WebGuy75903" told ABC News that although he still believed investing was a "no-brainer," he tried to keep it in perspective. Knowing that in the worst-case scenario of an Iraqi civil war and national breakup, his dinar collection could become worthless. But he could still say to his wife with every newly arrived order of dinars, "Honey, our pretty wallpaper came today!"

Many of the investors appear to fall in this category: people whose initial expectations have dampened somewhat but who continue to hold hope for the future. They expect this to be a long-term investment. They bank on Iraq not falling into civil war, on the violence diminishing, and on -- essentially -- a positive response to the choice Gen. Peter Pace posed for Iraqis in a recent U.S Senate hearing: to decide "whether they love their children more than they hate their neighbor."

A Reality-Check

Sadly, like many a get-rich-quick scheme, the dinar investment plan may be a nice idea that crumples in reality.

First, as several members of the Iraq investors online forum observe, if there was to be an overnight 1-1 revaluation, ordinary Iraqis would wake up to find their currency had ballooned in value, and there would surely be utter chaos.

The writer and economist Paul Ormerod, author of "Why Most Things Fail," said that some may be overly optimistic about the dinar's prospects in order to gain quick wealth. If the dinar did indeed hit a 1-1 level in the near term, Ormerod said this would come from a "redefinition of the currency" rather than a genuine appreciation in value. Rather, a new lower currency would be introduced, and the old currency traded in for that. The appropriate historical parallel would not be the West German deutsch mark or the Kuwaiti dinar but France's transition to the "new franc" in the late 1950s/early 1960s, in which one new franc was worth 100 old ones. Needless to say, no one stands to make a windfall from that scenario.

Lots more to read if you click on the link.........................

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CaptainJack Newbie

CaptainJack

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Can't be too old since she mentioned elections later this year? Of course its a risk and the stability of the country after the elections will be the key to an RV .... no rv before the elections ...... hopefully an RV not too long after the elections .... anyone that says different has no clue and has other motives .... you can bash me if you want, but you'll see for yourself!

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Robinsnest Newbie

Robinsnest

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Well, im not sure I would use this guy as a financial advisor. One thing he is absolutely wrong about is that the "Dinar could be worth nothing". Regardless at what happens, worst case senario is you cash back in at today's exchange rate. If he said this five years ago when I bought my Dinar, I would agree. Saying it yesterday, just tells you how uneducated he is on this investment. No much risk in this investment today.

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CaptainJack Newbie

CaptainJack

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No way I foresee it dropping in value, worst case scenario things go haywire ... Iraq turns into Somalia ... and we lose our "shipping and transaction fees" and Ali is the only winner.

Personally, as someone else mentioned, I believe the powers that be would much rather see Iraq succeed as a free and sovreign nation....the elections and how the Iraqi citizens react ... are going to be the key

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NotReallyTex Newbie

NotReallyTex

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http://abcnews.go.com/US/story?id=2448772&page=2

Betting Millions on Iraqi Money

Internet Scam or Smart Investment?

How old is this article? The comments at the bottom of the article is dated from 5/14/07 to 8/14/08

When I looked it the articles I was only looking for things with the current date. Other than that I do not know for sure. Sorry if it's old. I don't like looking at old articles myself.

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