Investing in the Iraqi Dinar: Expert Opinions
There are a lot of "experts" out there telling people to buy Iraqi dinar. But often these experts are also the people selling dinar. It's relatively easy to find websites selling dinar with their in-house expert painting a seemingly convincing picture as to why Iraqi dinar are a good investment.
But finding truly independent and clear advice from acknowledged personal finance experts is more difficult. Only a few of the best-known personal finance gurus have ventured to express clear opinions on this topic, but the few who have are decidedly negative on the idea:
| Opinion | Expert | Source | Date | Excerpt | Link |
|---|---|---|---|---|---|
 | Matt Krantz | USA Today | January 10, 2011 | "Investing in the Iraqi dinar is a huge gamble, and one in which you should be prepared to lose all your money." | Investing in Iraqi dinar: Source of quick riches or too risky? |
| Dave Ramsey | daveramsey.com | July 6, 2010 | "This is the dumbest thing to come along in years. It’s borderline on a scam! A lot of military folks have fallen for this, and there are ads all over the internet for the stuff." | Currency "Investing" Is Ludicrous |
| John Jagerson | Mint.com | April 6, 2010 | "The bottom line: This is an investment opportunity marketed by unregistered advisors to mostly unsophisticated currency investors. No risks are disclosed and past information is fabricated or modified to make the opportunity look better than it really is. This investment is a gamble at best." | New Investment Scam: Buying the Iraqi Dinar |
 | Jim Cramer | TheStreet.com | October 20,2009 | "I'm always a fan of buying the currency as a play," he said, and requests are rolling in to "Mad Money" for a way to own the dinar. | Cramer's Dinar Comments |
| Jennifer Openshaw | MarketWatch | Oct. 29, 2009 | "What did the Web site recommend? "It said she should invest in Iraqi dinars," my friend said, still amazed at the concept. The handyman recommended this 77-year-old grandmother of seven invest her retirement money in the currency of a nation whose financial condition is so volatile it didn't even make it on to the World Economic Forum's 2009 list of the most economically unstable nations on the planet (Chad, Zimbabwe, and Burundi are the three worst). Kind of takes your breath away." | Link to Jennifer Openshaw Article |
| John Jagerson | NASDAQ/Learning MArkets | April 2009 | "The bottom line is that this (Iraqi Dinars) is an investment opportunity marketed by unregistered advisors to mostly unsophisticated currency investors. No risks are disclosed and past information is fabricated or modified to make the opportunity look better than it really is. This investment is a gamble at best." | Link to John Jagerson Article |
| Michelle Singletary | Washington Post | January 27, 2008 | "Take, for example, the Iraqi dinar scam. In this con, promoters promise double-digit returns to investors. The promoters tell people that democracy in Iraq and the ensuing peace will stimulate the economy and drive up the value of the post-Saddam Hussein dinar. The Better Business Bureau has seen a substantial increase in complaints from around the world about the dinar scam, with many of them coming from military personnel and civilian contractors. The BBB said people complained that they paid for the currency but never received the money." | Link to Michelle Singletary Article |
| Kimberly Lankford | Kiplinger.com | March 2007 | I have a friend who, along with his buddies, is investing in Iraqi dinars through USACurrencyExchange.com. Please help me enlighten them about what they're getting into. -- Mike Klinedinst, Crossville, Tenn. Tell your buddy to forget his dreams of making a killing in dinars. Since the new Iraqi dinar appeared in 2003 to replace the old currency carrying Saddam Hussein's image, scores of Web sites have begun peddling these so-called investment opportunities. But would-be investors are speculating on a volatile currency in one of the world's most unstable places. Penny stocks are risky enough, but the dinar is not even a penny currency. In mid January, it took 1,313 dinars to equal $1. The offer on USACurrencyExchange.com gets you 250,000 dinars for $238, implying the site is taking a 25% markup. What's more, the currency isn't freely traded. U.S. banks won't buy dinars, nor will the dealers who sell them. In fact, the only way to unload dinars that we know of is on eBay, which recently listed about 500 auctions of new Iraqi dinars. | Link to Kimberly Lankford Article |
| Jeffrey Frankel | Boston Magazine | October 2006 | "(He) calls the activity 'pretend currency trading.' “I’ve received a large number of e-mails from people saying, ‘I understand you’re an expert on Iraq. Do you have any views? Can you advise me?’” he says. “I get the feeling that all these people doing this shouldn’t be. They’re little people, they don’t know what they’re doing, and they’re going to lose a lot of money.” | A Fistful of Dinars |
| Walter Updegrave | Money Magazine/CNNMoney.com | January 2006 | "In my mind, at least, nothing has changed since I first warned people about investing in the Iraqi dinar in a previous column -- except, perhaps, that individuals still seem willing to buy this currency despite any credible evidence that people who buy it as an investment have earned any sort of return. So my position today is the same as it was before: putting anything more than a few token bucks in dinars as an investment is a lousy idea. Indeed, I don't think you can call it investing at all, since investing implies having some knowledge of the actual value of what you're buying and some reasonable way of calculating an expected return." | Link to Walter Udegrave Article |
| Walter Updegrave | Money Magazine/CNNMoney.com | August 2004 | "My take is unequivocal. Given the difficulty of predicting currency movements, I'm not even a big proponent of investing in established currencies like the euro or the yen....And when it comes to buying and selling the fledgling currency of a fledgling government in one of the most chaotic parts of the world, that goes beyond mere speculation. I'd call it gambling. " | Link to Walter Updegrave ArticleLink to Walter Udegrave Article |
| Bruce Williams | Smart Money | August 2006 | "Currency speculation can be a very rewarding enterprise-but it is fraught with peril. The Iraqi dinar is extraordinarily speculative and has nothing behind it. While it can be observed that Iraq has lots of oil, with the huge amount of turmoil that is currently embroiling that nation and so many amateurs, military personnel and some civilians working there and getting involved in this, it is one of the last currencies I would speculate in just now. " | Link to Bruce Williams Article |
| Sandra Block | USA Today | "PARKERSBURG, WV: WHAT IS ALL THE HYPE ABOUT BUYING THE IRAQI-DINAR? DO YOU FORSEE A SUBSTANSIAL INCREASE OF THIS CURRENCY IN THE FUTURE. DO YOU BELIEVE IT TO BE A GOOD INVESTMENT? THANKS, BOB Sandra Block: Somehow I missed that hype, but maybe it's because I go to bed early and miss the late-night infomercials. Right now, it takes 1,471 dinars to equal $1. Dinars are suitable for framing, though." | Link to Sandra Block Article |
If you are aware of other experts expressed opinions, please leave a comment and we'll include them.
I was wondering what was expert opinions on the Kuwaiti Dinar during the kuwait war.
I can tell you this….. It is men with money to spend, and little leverage to be had that buy stocks. Unless you have a few hundred thousand to invest into top quality stocks and or managed accounts, you dont have any better chance of getting wealthy in the stock market than you do a devil getting into heaven! Its these very same EXPERTS that told folks to buy ENRON and other corporate DOG’S that ruined peoples lives. Do these EXPERTS know that the American dollar is slowly failing??? These EXPERTS went to college to learn how to trade the stock market and associated funds/bonds/IRA’s and the like. They are not FOREX specialists and I doubt they would recomend buying any foreign currency. Keep in mind that with all the oil that Iraq has… the DINAR is not going down. If it never makes you rich thats ok, just exchange your dinar for dollars and get most of your money back. Furthermore, you may be looking at selling all your dollars in years to come, as our greenbacks are looking for the bottom of the bucket.
I bought a couple hundred US dollars worth. I figure its like gambling. I’ve wasted a couple hundred on worse things. It either becomes worth something or either in 30 years I can show my grandchildren what the new Iraqi Dinars looked like. Heck, by them I’ll probably be able to sell it on ebay as a collector item for the couple hundred I paid for them.
I would say that what is $800 . A week in Vegas as if that is all you spend . Same odds as taking a mil home with you . So have at it and dream big . After all that what we got . Fear God not mens words .I never heard any one say that made it. (I would never Do that agian) But I have nothing to fear but fear it self.
i had to leave a comment my qualification to do so i am one of those less than 5% who does have over a million dollars and i am buying them!Why?Years ago an adviser told me when microsoft was in infancy dont buy this stock to risky these computers are just a tech flash in the pan..i ignored and bought sold it to soon but i made lots of money……..dont but apple at 83.00 a share its too i high……i bought even on the worst day last week it was 123.00.Now to the dinar i dont suggest you spend your life saving on them.But i do suggest you buy at least 250000 dinar depending on where the cost will vary but less than 100.00 right now the dinar is .00084 +- so they are worth money instantly deduct that from the 100.00 you spend and it isnt that much.If they fail give them to friends and realtives for christmas at some future date.I am giving them a 95% chance of reaching 25 cents each in the very new future that means your 250000 dinar will be worth 62,500.00 american dollars i will take that risk and by the way i bought kuwait dinars at about 1.75 per dinar was also advised NOT to do that i still have them and they are 3.75 the last i checked.This is the least risk investment you will every make it is so small with such a large possible return who cares is it fails they will become collectors items.BUY them just dont break the bank doing so.And before im asked NO i am not a dinar salesman.If they reach post wart levels which i doubt yous have 800,000.00 dollars i figure in the next 5 years if iraq settles they will be about 1.25. take the gamle your chance of making out is much better than a lottery ticket also last but not least consider the vietnam dong thay are cheaper and the chances are better they will go up sooner and i dont sell them either.You will never fly if you dont try.
Frankly! What the hell is the risk in the Iraqi Dinar people. I’m an American retired Master Sargeant and get peanuts from my government after serving over 20 Yrs… Now think about it, the U.S. Government is spending 10 Billion dollars a month in Iraq to make a thriving booming economy so that we can lose all that money. Duh! I don’t think so fellas! It’s a no brainer, get some of that Floos or else U will Lose. Floos is money in arabic for all you investing wizards that lost all that money on Wall Street. My money is on Iraq and I will be a Millionare in a couple of years. I’m with Mr. Big Dick on this one Boyz! Here’s an old Army Motto for U, No pain no gain.
i agree with big dick every investment is risky so jump on the band wagon while the dinar is still at all time lows
Yes, We’re gambling…but I’ve been poor all of my life, working seven days a week, notwithstanding. So, I’m taking a chance. What’s the big deal?
US Navy retired. Served in Iraq for 7 months. Heard all the stories of servicemen who bought Kuwait money after the war, even though there was no proof of it going back up, and was risky…wish i would of taken that risk…
the way i figure it, I would rather spend $500-$1,000 now on it and it be worthless 10 years from now, than to be reading the news 10 years down the road and its gone back to even 25 cents per dinar or even higher, and not have bought it… just couldn’t live with the fact that I could of spent so little on a fair gamble…. and if those experts dont think that the stock market isnt a gamble, then i really dont have any use for their opinion anyway…
what in life isnt risky, and I just have this feeling that all those experts who advise against it, have all bought some, just in case the HYPE turns into a profit…
take 5% of your liquid assets, and buy iraq dinars. if it goes to 0, assuming the other 95% is on bonds @ 5%, your portfolio will yield 0% that year, better than investing in the SP500 in 2008, hey that still beats the market!!!
Heres my 2 cents for FREE!! I agree with the above comments. If the dinar doesn’t go up then give them away to friends,family,etc. But heres another little thing I personally do. I surf ebay. You can usually get 50 notes of 50 dinar for around 25 bucks. WOW. I know thats a lot to spend on notes that aren’t worth shit…. right now (fingers crossed like the rest of us) So here is my little secret. I have about 2 mil in dinar that either i got when I was over there in the sand pit of hell or I find really cheap deals on Ebay. It may cost about a buck to post an auction but I sell 1 or 2 50 dinar notes for 2 bucks and maybe a buck for shipping. I’m not trying to make a killing off reselling them nor do I consider myself a “seller of dinar” but I will say it keeps my ass busy and I do make a few bucks off them here and there. Mostly to pay for my extracuricular activities. I’m not selling them to major investors or anything, just those out there that want one or two so they can show it off, pray it goes up like the rest of us, or keep it as a collectors item. Money is money no matter where it comes from and how much its actually worth. Good luck to everyone out there!! Semper FI “Freedom:For those who fight for it, Freedom has a taste that the protected will never know”
Seems like most who invest in the Iraqi Dinar on this site are ex-military. Those of us who did serve were paid not all that bad by Uncle Sam during our tours, however, that pay declined significantly when it was time to go. Maybe the military people want something to remember the hell they went through and Iraqi Dinars are the best way to get something out of a foreign country for a little investing of their very hard earned money. Whatever the reason is I hope us military members can one day, while sitting on our wrap around porches, smoking stogies and dropping a few brews with their buddies and looking out over the several acres they purchased with the proceeds from investing in a foreign country’s currency while being served drinks by those long lost investment strategists who said it wouldn’t pay off, say, “Yup that thousand bucks I dropped to buy Dinars was a great investment, I’m glad I didn’t listen to that asshole advisor who is now serving us drinks. Bentley, where in the hell are our drinks!”
I suggest that people don’t invest in Iraqi Dinars, that leaves more for me and the buy price might go down. What I do suggest is that “William O Dean” the so called self proclaimed millionaire, since he has so much money, go back to school and learn how to spell and write.
The way I see it is, $800.oo, I would’ve spent in no time on what ever, why not taking a chance on something I have a better chance than winning the lotto, Iraq has the 3rd largest reserve of oil in the world, also their dinars was close to $3.00 at one time. For me I took the chance, I beleve that sooner or later will come true.Good luck to us all.
I bought 100,000 dinars for $120 and plan to buy 200,000 more. All the naysayers (so-called experts) can keep telling me it’s a rotten investment. For around $300, I get the dream of turning that into $300,000 plus. Where the heck else could you get that kind of return?!!! The stock market? I don’t think so. And the crap about not being able to ever cash them in. I don’t plan on cashing mine in until 1 IQD hits 1 USD and according to articles I’ve read, supposedly then you will be able to cash them in at US banks. And if I lose it, so what….it’s $300, for gosh sakes. I’m not going to cry over $300. I would be crying, however, if I DIDN’T buy any and one dinar goes up to $1 US. I would also be kicking myself over and over and over….
I found your blog on google and read a few of your other posts. I just added you to my Google News Reader. Keep up the good work. Look forward to reading more from you in the future.
LIVE AND LET LIVE.MOSTLY I FEEL FOR THE PEOPLE OF IRAQ.IF IT MAKES YOU HAPPY THEN BUY SOME.THEY ARE FUN TO LOOK AT AND LEARN ABOUT.THE KNOWLEDGE I GAIN FROM THE MONEY IS WORTH ALOT MORE THAN ITS VALUE.LOOK AT USA HOUSING.CANNOT NO ONE SEE THAT THE HOME THEY OWN KEPT THEM WARM AND DRY.WHO YOU BRING INTO THE HOUSE TO LIVE WITH YOU IS ANOTHER STORY.THAT IS ALL YOUR FAULT.WILL IT GO UP.WHO KNOWS.JUST BE HAPPY THAT YOU HAVE THE MEANS TO BUY SOMETHING.80 OERCENT OF THE WORLD EARNS 2.50 PER DAY.SEE YOU ARE ALREADY AHEAD AND DONT KNOW IT.JUST FIND A WAY TO BE HAPPY BECAUSE WHO SAID YOU ARE GOING TO BE HERE THE NEXT DAY ANYWAY.LOVE AMERICA
I will say this. If the Iraqi Dinar does like the Kuwaity Dinar did and I did not buy any. I would kick my self in the “ASS”.
So I got a little just in case it did go up.
Someone I know is in IRAQ at present. Army honorable discharged with Post Traumatic Syndromes. He bought 1 Million Dinars while in active duty around 2 years back. He paid $600 for Million and now it is already over $1000 for Million. Honestly what’s worth of $2500 if Dowjones crashed, Nasdaq dipped and so does other indexes. People loose money to investors. Enron F’ed our own USA Citizen. Enron run down few Sub-divisions with their Bankruptcy. Those CEO clumsy bastards getting paid for what lower level worker worked for. If that was in thousands would be OK but these A-Holes get paid in millions of dollars to run the company and country down. People are out of jobs, out of unemployment benefits. Wife found new husband and X-Hubby is doing hand practice (Married to his hands Righty and Lefty). If someone has $2500 – I rather suggest buy as many Dinars as possible. During WW II, Germany was even in worst condition so does Japan. Just take few moments and buy few millions and tuck it away in Pillow Case. Help yourself that you have a chance. God helps only those, who are willing to help them selves. Kuwait was in worst shape, now then 1 KD = around $3.5. Imaging if someone had bought 1 Mil KD in the days of war…….. It is too far just in 1991 and 1992 a few years back. If you were in 20s then you should not be older then 40s. Imaging you ready to retire………. It will happen – IRAQI Dinars will go up. From the October 2009, entire IRAQ will withdraw US Dollars. Commerce exchange will be done by IRAQI Dinars. A diamond is wrapped around with Coal or unshaped looks like a glass. Once it takes a shape it is worth of tons of money. Still thinking…….. USA will not let then billions go worthless. Check history before taking any decision.
I’m an American contractor here in Iraq (Green Zone) and I work with Iraqi Nationals everyday! I’ve spoken to them about many topics! Kurds, Shiite and Sunni alike, want a better life! They want the ‘old” Iraq. They tell me that it was good in the 70′s and they dream it will return again! I believe it will! I’ve been over here for over 4 years now and I’ve followed this IQD topic on 4 different forums during that time! I’ve watched Iraq meet various goals that they had set and I’ve seen the progress first hand. Look at all the countries that are lined up; Russia, China,
France, Germany,Britain, India, Saudi, Kuwait, Jordan, and on and on! Now look at all the money that’s already been invested in Iraq. Do we honestly think Iraq will NOT be successful? Seargent Bilko, in his statement above is absolutely right! “It’s a no brainer”! Be careful with the media,. a firecracker could be set off and burn someone’s hand and they would report ,”the blast that injured one civilian”! LOL! I’ll bet my money on Iraq!
Good luck to all of you,
From the IZ in the Green Zone!!
Next polling day of Iraq could be around year 2010 and please rethink why we should hold Iraqi Dinars for fun? Prime Minister of Iraq Maliki must decide soon to revalue Iraqi Dinars or else, he mightn’t be re-elected as a Prime Minister at all. Please step into his shoes to understand that he must not procrastinate further in such a computer era.
The ‘Experts’ comments are rather out dated…2004, 2006. What are the more current expert opinions?
Sterling savings bank here in Portland Or both buys and sells dinars for account holders. They don’t have the best rates but you are assured the notes are REAL and uncirculated, not some of the wore out worthless or counterifit units you can get screwed with on line and Ebay. As of today I got, after shipping and fees, 933,500 dinars for 1000 usd. I play the lottery. 50 million to one. And these “pink tickets” dont expire in 3 days, you can keep them until you win. I am a realist. I know than tomorrow they are not going to go 1 to1. Ive heard that several times since 2003, all hype put up by the dinar dealers who are the only ones making money right now. A lot has to happen between now and when it ever gets close to 1 to 1. But just maybe Ill make the money for a hunk of beach in Sunny St Somewhere before I retire. Besides Id spend 5 bucks to see a fly fornicate, so whats a grand compared with a slim chance for a million.
Got is most gracious most merciful and will not let iraqi people in deep shit for very long as their country is very damp rich with oil reserve and the people keep keep praying to god for better life. Learn from history of mankind god is very very fair and the same will goes to iraqi people to live in normal life as human regardless of religion. So be optimistic on IQD to rebound its value as before as it is backed by huge oil reserves which real and not just based on forecasting. If we dare to invest in company share which is backed by peopole money sometime less than 1mil, what the heck we are so afraid to invest something backed by billion of dollars.Everyday we are surrounded by fear factor. To marry to second wife we are afraid of first wife, to fly- high, present-audience, boss-sacking, majesty-power so…. We are left as just shift in the street. After the worst scenario, we will only lost USD1000, even we cannot guarenty will wake up tomorow morning. So my advice buy as mush as you can afford.
The dinar WILL RV! The questions are when, and how much? Screw the so called experts! I’m a expert myself, expert at kickin experts asses lol.
Ok, here is the opinion of a real middle class working stiff. #1- I am no idiot, I have watched Wall Street jerk people off for years. If the press gives some sort of off color report the market falls like a stone. If they say something that they think is positive the market goes up. Now, who is really contolling Wall Street? #2- These so-called experts tried to tell the finacial institutes that it would be good business to allow people with risky credit to be able to buy a home. Now they did this when the housing market was going into it’s boom. This was a combination that led to the fall of our economy. Greed and stupidity combined into a lethal combination!
For me a small investment into the ID is like playing the stock market without all the stupidity and greed. If it goes to just 1 penny to a US dollar, I made money. You morons on Wall Street can keep putting your thumbs down. I likemy chances with the ID.
Good luck to all of us who believe!!
I just bumped into an elderly man last week who handed me a colored photocopy of this “get rich quick scheme”, so I first thought. It looks like a piece of junk mail, even slightly mispelled words and mis structured paragraphs. The letter explains briefly about the concept. It has his own name and address on it “for more information”… I admit, I am curious and interested. My primary question now is, where do I buy Iraq Dinar from? What is the most trustworthy source? Any suggestions?
first of all, NEVER INVEST MORE THAN YOU CAN AFFORD TO LOSE. Investing is always a gamble. No free lunches… I was a contractor out there 2003-2004 and started out buying the old Saddam dinars to add to my coin collection and give the locals a few bucks to survive. Not insurgents, just hungry people. I am not an EXPERT. They sit behind desks in a\c offices and make money. I get sweaty and dirty and take pride in my work. I invested about $9,000 u.s. If my investment pays off, I will have a heart attack and die and my beneficiary will be pleased. If it doesn’t pay off, the most I stand to lose is about $9,000 u.s. Actually, this is more fun than paying $1 for a lottery ticket. Very best of luck to all the chance-takers.
I painted a house for all of its contents – in it was 1,450,000 new dinars- I have been watching the exchange – it stays at about 1200 US dollars but i have heard this is about to rise sharply by the end of this year. Does anyone know of an up to date speculation forum or web site to follow? Thx
Back in 2003, there was a big time hype here in Pakistan & every1 was goin crazy about buying Iraqi Dinars. Within a week, it doubled and the following week it trippled. It came down right after that & been stegnant ever since… I kept on checking time to time but there was no significant change… Fortunately it started climbing up a bit in tht beginning of 2010… Only God knows what will happen but I have faith & I’m quite optimistic… By the way, I’m sitting on 7.5 Million IQDs… Luckily, those are not my life savings :) Good luck to all of you…
i had to leave a comment my qualification to do so i am one of those less than 5% who does have over a million dollars and i am buying them!Why?Years ago an adviser told me when microsoft was in infancy dont buy this stock to risky these computers are just a tech flash in the pan..i ignored and bought sold it to soon but i made lots of money……..dont but apple at 83.00 a share its too i high……i bought even on the worst day last week it was 123.00.Now to the dinar i dont suggest you spend your life saving on them.But i do suggest you buy at least 250000 dinar depending on where the cost will vary but less than 100.00 right now the dinar is .00084 +- so they are worth money instantly deduct that from the 100.00 you spend and it isnt that much.If they fail give them to friends and realtives for christmas at some future date.I am giving them a 95% chance of reaching 25 cents each in the very new future that means your 250000 dinar will be worth 62,500.00 american dollars i will take that risk and by the way i bought kuwait dinars at about 1.75 per dinar was also advised NOT to do that i still have them and they are 3.75 the last i checked.This is the least risk investment you will every make it is so small with such a large possible return who cares is it fails they will become collectors items.BUY them just dont break the bank doing so.And before im asked NO i am not a dinar salesman.If they reach post wart levels which i doubt yous have 800,000.00 dollars i figure in the next 5 years if iraq settles they will be about 1.25. take the gamle your chance of making out is much better than a lottery ticket also last but not least consider the vietnam dong thay are cheaper and the chances are better they will go up sooner and i dont sell them either.You will never fly if you dont try.
Read More:http://www.dinariraqi.net
in my opinion DINAR will be appreciated in couple of years and i am optimastic about my analy sis. iraq isa oil rich country and stii better infrastructure as compare to afghanistan. today afghn currency rate US$44.32 And ISRAEWL shakeel isUS$ 3.45 in international market both these countries have no future oil extraction report as compare to iraq. one thing is common to both countries that both are supported by the west. BUT still Iraq ii waiting for west support to its economy dinar in coming years.
i’m with mr. big dick and william o dean. the united states has spent 7 years over in iraq and i don’t think it’s going to be for nothing. the potential for profit, even from a minor investment, is exponential. i would bet that the US govt. has quite a bit invested in the dinar and i think that it’s a no-brainer that the currency will appreciate considerably in the next few years. i can’t think of too many other opportunites where you can invest $250 or so and the possibility is there to turn it into over 6 figures. to me, the huge potential gain from investing outweighs the relatively minor investment. i’ve spent more on lottery tickets. the so-called “experts” are guessing just like everyone else. i think the people that have invested in the dinar will be very glad they have in a few years. this currency is going nowhere but up.
The fact that these Wall Street guys are giving a thumbs down….makes me want to invest even more..I have 400k of IQD that I got directly from Central Bank of Baghdad..So I know they are real.When I went I paid 100$ for 140000.I know it will not turn an investment until around 2015 or later but the money I spent will not be missed. I have met the Iraqi people and have faith that they will have a successful economy…Wall Street only looks for the quick gain..and their advice will be ignored….
I’ve been investing in Iraqi Dinar for about 3 months now, and currently hold over 3 million dinar. I watch several Dinar sites, and have a currency calculator to track the rate. As with everyone else’s advise, never invest more than you can afford to lose. Don’t think you’ll get rich over night. Many of the so called stories about revalues are recycled stories from 4-6 years ago. Dinartrade.com has a separate news tab that does provide the latest legitimate news.
You really must ask yourselves…why is this never spoken about on Bloomberg news or in Barron’s Weekly?
These are very reliable sources. The only one I see touting this is Jim Cramer and we all know how he works.
To answer: this is under the radar with the news because they do not want to have the federal reserve draw attention to the investment …they have 3.7 trillion in the vaults. You are about to see a historical event. If you think this is smoke. Take a look at the un meetings on iraq with Vice President Joe Biden and all other attending nations. You see good intel is always an advantage. Facts are good when there are so many skepics.
Hey Hawkins….be on high alert 2015 it would seem, but get ready for fast pace action in the coming week… have a great 2011 and help someone with your new wealth. go on utube and watch joe biden un meeting govt forming in coming days…its been a long road but this is where it ends…
Hello. currency rate of Kuiwat as of December 17, 2010 Today is $ 4.0228 just thought this may give you some incentive. Take a look at oil reserves, and contracts coming in from all the big boys! If you are able to get in congrads…we all deserve this one! 7 years 4 months so just know there are many people in much longer than others. Christmas is here enjoy much cheer@@@
How can all the experts be so wrong? Because they are and you know they have their money on the Iraqi Dinar. If our Military is buying the currency they must know something is up. When George Bush said the Iraqi Dinar would pay for itself what do you think he meant by this statement? Our US dollar controls the world. Why would we go into another county and bomb them and take control but pretend like they are in control? Let me think? 3rd largest oil reserve in the world. What controls the world? Well God first but then oil? Who ever controls the oil controls the world. What does the U.S get? A discount on oil? How much? I am not sure but I like the sound of 50% off so at $80 per barrel how about $40 per barrel. Do you think that the U.S. citizens get a break at the pump? Most likely not! But this is how they can Re-Value the Iraqi Dinar and give us the price of .86 cents to 3.86 cents with no problem. Why? Because our county makes the money back at the gas pumps and other countries can help rebuild Iraq because the Dinar currency is worth something. A Win/Win for everyone and we can maybe pay down so much dog gone debt. If I am wrong I am sorry guys but this is the info I have learned since been on this quest over a year now! Small risk for a potential huge return. The only place for the RV to go is up, the question now is when?
I did invest 20 milion in Iraqi dinars , and nobody can stop my dreaming, still working in Iraq which means i risked three of my salary’s what the heck , it is not end of world if i loose.Remember Iraqi dinar is not going down anymore,so if we banking those dinars we still can get back from bank in dollars.To catch big fish you have to go in deep water, it is risk but big fish is there.We cant fly if we dont try, to buy one sit in Las Vegs for Texas Holdem is 10 thousend dollars , and who garanty wins: nobody.
thanks
It is about time that Iraq and its authorities should be recognized as an immediate future of stabilizing their life and become the friends of all nations. May all nations recognize the Iraq is the immediate future of wealth and encourage the world to invest in Iraq. Buying the dinar is a stabilizing factor of world market which will be the mirror and hope of the investing world especially of the Iraqi people. The free world should see the solution of many problems in the area and buy as many iraqi dinars as possible. God helps us to see the truth of investing in Iraq.
I am with everyone in investing. Working in Kuwait, I have purchased my IQD from several exchanges…Can’t get them out of Iraq?… How did the exchanges get them? Can’t exchange them in America… Haven’t tried yet, BUT HSBC is in both the states and Iraq, so I assume they can do it or else it would be retarded to not be able to transfer money from one branch to the next. All of the anti-dinar articles are indeed outdated, how about some new BS to read over, something following the new government set this month which includes the factions, a wonderous feat in and of itself; after the UN has lifted almost all of the sanctions on Iraq; after the death toll has dropped BELLOW Mexico’s; after oil production has broken 2.6 mil bbl/day, the highest in 20 years; and after Halliburton and other oil giants have signed deals in the 100′s of millions (of USD). After all this can someone please give me some anti-dinar speculation? I am always investigating the situation and all I see is good to come, especially after 2010, the most productive year Iraq has seen since…. Hell, I dont know when. All I do know is that when Saddam was overthrown and democracy and Sovereignty was achieved, Dinar value doubled… and thats was before a government was formed, before the war was over, before the factions united, before the oil began flowing again, before all the things mentioned above. WWDD? What would Donald Do? I have not verified his investment in the Dinar, but almost 21 countires have a shit load of it, including America, so I am risking what America is risking… not much because every person that gets IQD, every country that accepts IQD as payment for Iraq debts owed to them, every trasnaction that occurs involving foreigners and the Iraqi dinar just solidifies the trust those people have in Iraq’s potential, which in turn gives the Iraqi people incentive and they realize the world does believe in them and what they can do. The Iraqi people believing in themselves is much more important than EXPERTS believing in the dinar speculation, the people have the power to change the world with their decisions, the EXPERTS have the possibility of changing only their pocket books with their gambles.
Just a few thoughts
I purchased i million Iraqi dinars in 2005. I expected to have to hold on to them for at least 10 years considering the status of the country then. Currently I am reading about their increase on oil production of millions of barrels per day and all of the countries interested in investing in Iraq and its oil fields. I am not an expert in finance but I do think this kind of action will stabilize the country in the coming years and in return increase the value of their currency. Furthermore I like to have a dream. I am told some dreams do come true. Just be patient.
My step dad has just bought $800 dollars worth of dinar,
personally it scares me, but reading all of these comments,
I think its worth it. Although i didn’t know that people have been
buying dinar for so long, the way my step dad made it sound, the dinar is going up as soon as monday.
if you visit the above website and switch it to english at the top of the page, then use there currency calculator,
it says that the iraqi dinar is already worth $3.22 US . and if this becomes true in America, than my step dad traded 800 meesly dollars that doesnt even pay one month of our rent, for over $1,040,000
Benjamin Franklin said, “No pain, no gain.”
I’m no a ‘get rich quick’ sucker like I believe is a common growing thread (and problem) in our Country today, and it is my humble opinion to be more than diversified in your monies. Pay the creator and yourself first- always give back to the society and charity you are a part of, and save at least ten percent of every dollar you make–Save it in a secure financial account, or under the mattress- not in stocks/ etc. Diversify your monies and understand your risks. A 77 year old retiree dropping her life savings into an unstable country’s new form of currency- terrible investment. A 23 year old blue collar worker investing $2500 in a promising currency’s growth- high risk, but a perfectly well-balanced investment. I Am not a 50-year Wall Street veteran. I am the 23 year old blue-collar kid. I am not of the 5% class, but my only debt is a mortgage payment on my first home. I have a nest-egg awaiting disaster, and I have a diversified stock/trade account along with a retirement fund built by conservative investments and bonds. I have been dabbling in high risk investments for ten years since my parents opened up my first Schwab account for me- here is what I have learned. For every event under heaven, there is a season. There is a season to make those high-risk investments, and a simple understanding associated with each one we partake in- “I am never going to see this money again.” I enjoy the tables at a casino every now and again, but I walk in the door with only the cash I’m willing to lose. Expect to lose your money- don’t invest money you can’t lose- and enjoy supporting a struggling country’s economy. If you make eight million dollars in the meantime- remember where you came from and remember to diversify- Support the God and society that raised you, throw 10% under the mattress, and keep your day job- continue to produce in society. This ride is not about ourselves
It sure is confusing! Has anyone determined for sure that US banks will redeem Dinars? I’m hearing that it is considered illegal by Iraq to take their currency in or out of their country, and that it cannot be redeemed by any banks in the US.
Anyone know for sure? If yes, please give specific names.
The dinar was introduced into circulation in 1932, by replacing the Indian rupee, which had been the official currency since the British occupation of the country in World War I, at a rate of 1 dinar = 13? rupees. The dinar was pegged at “par” with the British pound until 1959 when, without changing its value, the peg was switched to the United States dollar at the rate of “1 dinar = 2.8 dollars.” By not following the devaluations of the U.S. currency in 1971 and 1973, the dinar rose to a value of “US$3.3778,” before a 5 percent devaluation reduced the value of the dinar to “US$3.2169,” a rate which remained “until the Gulf War.”
When Iraq is producing oil at pre-Gulf War levels and they are collectings billions of US dollars, billions of Canadian dollars, billions of Euro’s…those foreign currency holdings will back and increase the value of the Dinar. RVs can, and most likely will, occur several times as Iraqi exports increase and foreign dollars flow in. This is a part of how the fiat money system works.
Consider any investments in Iraqi Dinars as a long term investment. IMO investing in Iraq Dinar is ten times safer than investing in the US Stock Market that wiped out my retirement portfolio.
It is funny to me that some of these so called experts put down dinar speculating because so called expert advisors do not recommend it. The track reechoed of the experts in stocks and real estate kinda speaks for itself given the economy and they charge fees on top of there crappy advice.
Hey hows that “investment” working out for ya now?
Sucker born every minuet.
FYI, you won’t be able to fly in and out of Iraq with a bundle.
Ever see the movie midnight express?
They will lop 3 zeros and print new currency. The old you hold
will be good for toilet paper. The only way you will EVER get a
dime for it is if it’s held electronically in Iraq….fools!!
I play the lottery every week on Wed and Sat, thats $10 a week … I spend $520+ a year on lottery tickets… for $599 (that includes shipping and the wire transfer fee for my bank) I can get 500,000 Dinar … What’s the difference??? Well, I probably won’t ever win the lottery!
But I can’t sit back and think about all our men and women over there fighting for NOTHING! Iraq will recover and will explode in oil profits and you REALLY THINK that the Dinar will not come back into play …
My God Man WAKE UP!!!
I plan on having at least 3 million before it explodes! Every American deserves a small part of what the USA fought for I will have my part, I suggest you buy yours today!!! Even if it NEVER HAPPENS … what have I lost … NOTHING I would have blown that money anyway!
Think about what you blow daily, a cup of coffee here, a lottery ticket there, $1.49 for a coke a day, EVERYONE can afford to buy Dinar and EVERYONE should.
I am by no means an expert but I believe that Iraq will recover and what better way to prove it than by sinking MY HARD EARNED MONEY into this investment!
Good luck to you all! :)
I have pipe dreams too but I’m not going to pay a would-be, unregistered plumber in advance to make those dreams come true. That fact is, you cannot dump the dinar by exchange even if you made the purchase and you are buying it from unregistered advisors peddling worthless paper to begin with. I feel bad that so many people have fell for this scam but look at it this way… now you have some toilet paper to use in your brand new john. Ah, pipe dreams.
Question, if there was a mineral find in the country, worth about 5 trillion would that make currency worth more.
I think there’s a strong arguement in those who say that America’s investment in Iraq coupled with the Dinar our country holds is (at the very least) a strong indicator about possible outcomes of this speculation. I’m not betting the ranch on this. What I’ve spent on the Dinar so far won’t change the quality of life for us should it go bust. But I’ll tell you what it has done for me so far. It places a smile on my face every day just thinking about it. Just this alone dwarfs the money spent on the Dinar. It’s the chance that ‘we lower middle-class” people may rise from the daily struggle into some type of prosperity, even for just a little while, that makes this a win-win opportunity. Thanks for listening!
Just bought this week 1 million dinar very happy and bought ELTP on the OTC!
any feelings changed…have you reserched it lately …have you read Iraqi papers and watched the news…have you since purchased your dinar …somehow I think you may re-think this.
Iraq has made tremendous progress during the past three or four years. If we look at data published at the Central Bank of Iraq’s website, we find good economic numbers there. Iraq’s economic growth (real GDP) for 2011 is estimated to be around 9.6%. According to Global Finance magazine, real GDP averaged 4.8% from 2008 to 2010. However, this growth rate fluctuated from 9.5% in 2008 to only .8% in 2010. Forecast for Inflation for 2011 is 5% which in my opinion is moderate for a growth rate of 9.6%. In addition, the country’s foreign reserve, currency and gold, is stated at $50 billion, an impressive achievement considering the fact that this number stood at $0.00 in 2003.
The country’s oil exports are averaging 2.1 – 2.2 million barrels per day. Work on building an infrastructure to prepare for an increase in oil production to a level of 4 – 5 million barrels per day is in progress and is expected to be completed within 2 years. Therefore, Iraq’s oil production is expected to rise to these levels when construction is completed.
In March of 2011, the International Monetary Fund (IMF) praised Iraq for implementing good economic and financial policies to control inflation and develop the private sector. These policies brought about results. Iraq on its part is strongly committed to being open to advice and guidance from the IMF.
On the political front and despite the present stalemate among political parties following last year’s general elections, progress in all parts of the country is being made to rebuild Iraq’s infrastructure. Improvements include better electricity and water supply, and a faster Internet guaranteed totally open and uncensored by the constitution.
These facts indicate that the value of the Iraqi currency, the Dinar, relative to the US dollar and other world major currencies will appreciate at some point in the future. I expect a level initially of 500 USD/IQD. The highest value yet for the Iraqi dinar was 1067.81 USD/IQD in London trading on 25 September, 2010.
Investors and traders in the Iraqi dinar are waiting for favorable developments to take place. These developments can take the form of positive signals regarding progress in negotiations between Iraq and the UN concerning UN chapter 7. Or, progress in resolving Iraq’s outstanding pre 2003 financial obligations to international companies and other parties. And of course an important development would be the much awaited rise in Iraq’s oil exports which I think will really make the difference to the country’s economy, to the Iraqi dinar, and to the security situation which is an important issue for most Iraqis.
However, I must mention that I do not expect the Iraqi dinar to rise to and stabilize around the 500 USD/IQD level until after the next general elections.
From an investor stand point, I am certain that investing in the Iraqi dinar is a good medium to long term investment, depending on the investor’s expectations.
Hayder A. Wahab
I WAS PART OF “OPERATION DESSERT STORM” IN 91. KUWAIT’S DINAR ‘NOW’ IS $4.12 TO $1. BACK IN 1991…0.012DINAR TO $1. IRAQI HAVE MORE OIL RESERVES THEN ANYONE IN MID EAST. WHEN THIS CURRENCY RE-EVAL, THOSE WHO SAID IT WAS CRAP, WILL BE WORKING FOR THOSE “WHO HAVE”. THE WORSE FEELING….”IS REGRET”