Had a friend of mine mention that he might get into this and asked me had I ever heard of it. I had not, and decided to look at it. It appears it has been going for about 7 years now and it does not appear anyone has anything to show for it. Everything about me says that this is a scam or at least not worth my time, but I do have a question for anyone that knows anything about this. What risk is involved in buying iraqi currency at this point? I mean I understand the riches people are seeking may not be there, but could you not at least recoup your money invested? When I think scam I think you lose all your money under false pretenses. With this would you not be able to get your money back at least? I mean how could the value of the money go down from your original investment when they revalue the currency? Anyone that understands any of this please fill in the gaps for me. Until today I had never heard of this, so keep that in mind if you see clear ignorance on my part. Thanks!
Iraqi Dinar investment. Scam or not?
- Thread starter UGA12
- Start date
UGA do not know much about trading foreign currencies, but some can be revalued.
for instance in Greece, there is a good chance that they will eventually have to default on their debt, not sure if they would leave the European Union (would have to if they default) they would then introduce their own currency and anyone with greece debt would take a 30-60% haircut. and the new greece currency would drop sharply.
have no idea about the Iraq currency, in general there are thousands of ideas to invest in, if you are not sure stay away...., sometime if you are not sure who the fool in the trade is.....well guess who it is...
just play stocks and options, though at one time played commodities, sometime in the future may, made large large amounts of profit futures in 1999 on coffee futures.
loss all my gains over six months, on a short squeeze that tooks 3-4 days....plus around $5000US (well around $3500 plus large gains)....live and learn. if you are not sure about a trade, stay away....better safe than sorry.
last note I was looking at Argentina bonds in their currency paid 19-25%, passed was not sure, six months later they went broke.
hope this helps and good luck
thanks
selkirk
for instance in Greece, there is a good chance that they will eventually have to default on their debt, not sure if they would leave the European Union (would have to if they default) they would then introduce their own currency and anyone with greece debt would take a 30-60% haircut. and the new greece currency would drop sharply.
have no idea about the Iraq currency, in general there are thousands of ideas to invest in, if you are not sure stay away...., sometime if you are not sure who the fool in the trade is.....well guess who it is...
just play stocks and options, though at one time played commodities, sometime in the future may, made large large amounts of profit futures in 1999 on coffee futures.
loss all my gains over six months, on a short squeeze that tooks 3-4 days....plus around $5000US (well around $3500 plus large gains)....live and learn. if you are not sure about a trade, stay away....better safe than sorry.
last note I was looking at Argentina bonds in their currency paid 19-25%, passed was not sure, six months later they went broke.
hope this helps and good luck
thanks
selkirk
Correct me if I am wrong, but are you saying that currency can not be revalued unless a nation defaults and starts over with a new currency? If that is the case then what happens to the old currency, is it then worthless or can it be traded in for the new currency. If it can be traded in, is there any way one could make money off of trading in the old currency? I know this isnt your specialty, but I am just trying to understand the basics. At this point I have no intentions of moving on this, but a friend of mine is pulling the trigger and I am just trying to figure out if this kind of trading/investing is legit, or if it is just a scam. Thanks man!
no, currency trade and can move up and down on a daily basis.
some countries also try to peg their currency to an another currency, for instance some third world countries will peg (or try to ) their currency to the US dollar...so much of their for every US dollar...
in the long run though it is impossible to peg any currency as the market will decide how it should trade, in the end.
the trading in currency markets is huge, and the value of the currencies move daily.
there can be sharp moves in a countries currencies without default...for instance the cdn. dollar can move up or down 20% in value compared to the US dollar in less than a year.
not to complicate this even further, have a knack for that, if resources moved higher, and the worldwide economies move up, then the Aust. and the cdn. dollar will (probably) rally against the US dollar.
often if the world experiences and economic shock or slow down people rush into the US dollar, and these two currencies would drop, the moves can be quite severe. not like a default but still 10-20%. in a short period of time.
have no idea about Iraq currency trade. just aust. and cdn.
thanks
selkirk
some countries also try to peg their currency to an another currency, for instance some third world countries will peg (or try to ) their currency to the US dollar...so much of their for every US dollar...
in the long run though it is impossible to peg any currency as the market will decide how it should trade, in the end.
the trading in currency markets is huge, and the value of the currencies move daily.
there can be sharp moves in a countries currencies without default...for instance the cdn. dollar can move up or down 20% in value compared to the US dollar in less than a year.
not to complicate this even further, have a knack for that, if resources moved higher, and the worldwide economies move up, then the Aust. and the cdn. dollar will (probably) rally against the US dollar.
often if the world experiences and economic shock or slow down people rush into the US dollar, and these two currencies would drop, the moves can be quite severe. not like a default but still 10-20%. in a short period of time.
have no idea about Iraq currency trade. just aust. and cdn.
thanks
selkirk
Phase 1 started in June 2011 and ended in Dec 2011. According to the articles published regarding the end of phase 1 it states Phase 2 would include issuance of the new currency. This particular article indicate September would be the beginning of the dropping of the zeros..which would indicate phase 2. Now in my opinion this indicate phase would begin in April 2012 and roll to a conclusion in September 2012 or phase 2 would possibly begin in September ending six months late in 2013. Never mind when phase 2 begins or ends...It would appear the article gives us a hard date to see the new currency roll out for circulation. If Iraq and Kuwait can find resolution to their issues in the March meeting and find not only Arab support but international support for Iraq's departure from Chapter VII sanctions this would find the UNSC's June meeting promising for Iraq to be lifted entirely from sanctions. And ultimately the IQD becoming recognized globally. This is all starting find a conclusion...Good stuff!
What we all been seeing as of lately is exactly what the reports have told us in the recent past. Each one of these articles gives us a good feel on what is going on and what to expect. All point to the currency being change over in 2013 ht...tp://thecurrencynewshound.com/2011/12/19/cbi-parliament-is-convinced-the-process-of-deleting-three-zeros/ this one as well http://thecurrencynewshound.com/2011/09/24/cbi-confirms-deleting-zeros-and-changeover-2013/ This one states that the process will begin in 2012, so weather is happens in April or September we're still in 2012 for the beginning process http://thecurrencynewshound.com/201...in-replacement-of-the-currency-early-in-2012/ this last one states in the second paragraph the results of method to the madness, what the we all hope and are waiting for "Jubouri said that ?the trend that the Central Bank of Iraq?s retention rate of the dinar against the dollar during the current period, this index indicates that monetary policy in Iraq is able to make the Iraqi dinar is equal to the dollar? offset any dinar per one dollar" http://thecurrencynewshound.com/201...nfirmed-the-dollar-during-the-next-two-years/. So the key in my opinion is all eyes on successful meetings between Iraq and Kuwait rapidly approaching. This is our make us or delay us event. UNSC most likely will not act in Iraq's favor if Kuwait is not on board. In light of the recent news between the two countries I'm leaning towards things being resolved this year ( I sincerely hope so). With all that said, it distill to this, we are in a very good position. Everybody continue to be patient, this ride is almost over. As far as I can see, they are doing everything they said they would do.
also the dong is another good one to get
you can buy 0ne mill dong for 60 dollars a mill
if a rv of 20 cent you can make 200k on a 60 dollars investment, you can alway trade your money into us dollars, very safe
http://dongtalk.com/
you can buy 0ne mill dong for 60 dollars a mill
if a rv of 20 cent you can make 200k on a 60 dollars investment, you can alway trade your money into us dollars, very safe
http://dongtalk.com/
i will post the conf call there one tonight with the number and pass word
712-432-1085 pin 157219#
here last week call on tape
you can order dong at your bank
td bank is a good place to buy them
the dinar getting very hard to get, you have to go throuht a dealer
