Iraqi Dinar Anyone?

wingnut4772
wingnut4772 Posts: 7,519
edited January 2008 in The Clubhouse
Anyone else here own any? I have a bit and I have been watching the news. The buzz is that there is some good news on the horizon here. Anyone know? Thoughts? Please discuss.:p
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  • zingo
    zingo Posts: 11,258
    edited December 2007
    As the dollar goes down, the Dinar with most likely go up...even if it is Iraqi.
    Jake
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  • MikeC78
    MikeC78 Posts: 2,315
    edited December 2007
    Have a little under a million dinar, hopefully it goes one for one. I haven't heard anything new. Maybe Troy can chime in with some good news...
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  • phuz
    phuz Posts: 2,372
    edited December 2007
    That same "buzz" has been going around since the new Dinar was made. Lots of Jordanian, Syrian, Yemeni, and other foreign nationals got rich selling them to suckers on ebay and various other places.

    I've got a co-worker trying to unload a million, if anyone is interested. I got rid of mine (bout half a mil) in 2004 after realizing it's not gonna happen.
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  • MikeC78
    MikeC78 Posts: 2,315
    edited December 2007
    phuz wrote: »
    I got rid of mine (bout half a mil) in 2004 after realizing it's not gonna happen.

    Really??:confused: What made you realize that it's not going to happen?
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  • phuz
    phuz Posts: 2,372
    edited December 2007
    MikeC78 wrote: »
    Really??:confused: What made you realize that it's not going to happen?

    Research into forex and IMF stuff. Realizing that Iraq will pretty much forever be in debt to the US, and various other things I found over a few months of research.

    "On May 3, 2007, the IMF released a statement in relation to the international compact with Iraq, which has turned the tide in regards to speculation on the Iraq dinar. The contents of the article discuss changes made in Iraq on the economic front of how the Iraq government had eliminated fuel subsidies. The article also stated that the Central Bank of Iraq had raised interest rates in an attempt to allow a gradual appreciation of the dinar in an attempt to fight dollarization of the Iraq economy. Although there are claims of wide-spread optimism of some language used later in the press release among some dinar speculators, there have been no publicly released statements or analysis by any news sources or governments. The Utah Division of Securities lists Iraqi currency trading as the #2 most common scam for investors"

    That's just me though. You may find other info to the contrary. Everywhere I looked that said something positive, had a motive (usually profit or sales) behind it for motivation.

    -Cynical phuz (in Baghdad)
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  • MikeC78
    MikeC78 Posts: 2,315
    edited December 2007
    phuz wrote: »
    Research into forex and IMF stuff. Realizing that Iraq will pretty much forever be in debt to the US, and various other things I found over a few months of research.

    "On May 3, 2007, the IMF released a statement in relation to the international compact with Iraq, which has turned the tide in regards to speculation on the Iraq dinar. The contents of the article discuss changes made in Iraq on the economic front of how the Iraq government had eliminated fuel subsidies. The article also stated that the Central Bank of Iraq had raised interest rates in an attempt to allow a gradual appreciation of the dinar in an attempt to fight dollarization of the Iraq economy. Although there are claims of wide-spread optimism of some language used later in the press release among some dinar speculators, there have been no publicly released statements or analysis by any news sources or governments. The Utah Division of Securities lists Iraqi currency trading as the #2 most common scam for investors"

    That's just me though. You may find other info to the contrary. Everywhere I looked that said something positive, had a motive (usually profit or sales) behind it for motivation.

    -Cynical phuz (in Baghdad)

    Thanks Phuz,

    Give me a yell, I'm here in Baghdad also.
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  • TroyD
    TroyD Posts: 13,077
    edited December 2007
    I've got a bunch of D's from before the war.

    BDT
    I plan for the future. - F1Nut
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  • bobman1235
    bobman1235 Posts: 10,822
    edited December 2007
    I could go for a nice turkey dinar right about now.
    If you will it, dude, it is no dream.
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  • Sherardp
    Sherardp Posts: 8,038
    edited December 2007
    Im with TroyD, I have a few from the earlier days. I never thought about value, just something I kept from when I was in the MARINES.
    Shoot the jumper.....................BALLIN.............!!!!!

    Home Theater Pics in the Showcase :cool:

    http://www.polkaudio.com/forums/showcase/view.php?userid=73580
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  • wingnut4772
    wingnut4772 Posts: 7,519
    edited December 2007
    There is some buzz lately about an impending LOP or a revalue of the Dinar. The only problem is nobody knows which. A lot of speculating going on. All I know is my stuation would be resolved and then some with a nice RV.:D
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  • wingnut4772
    wingnut4772 Posts: 7,519
    edited January 2008
    Just wondering if any of our Club Polk boots on the ground over there have heard anything about the recent news on the Dinar. A lot of rumors and articles letting loose.
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  • phuz
    phuz Posts: 2,372
    edited January 2008
    wingnut4772 wrote: »
    Just wondering if any of our Club Polk boots on the ground over there have heard anything about the recent news on the Dinar. A lot of rumors and articles letting loose.

    Haven't heard anything, but I can ask. There are always rumors, but nobody really knows exactly what will happen until it happens. A revalue or new currency wouldn't suprise me though.
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  • wingnut4772
    wingnut4772 Posts: 7,519
    edited January 2008
    phuz wrote: »
    Haven't heard anything, but I can ask. There are always rumors, but nobody really knows exactly what will happen until it happens. A revalue or new currency wouldn't suprise me though.

    Hopefully not a new currency. That would suck.
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  • tonyb
    tonyb Posts: 32,951
    edited January 2008
    I have an uncle who has been there for 2 years now and tells me that is the biggest scam going.A revaluation,and a new currency is a gimme.People have been selling a million bucks in dinar for 800 US......which of coarse could be worth zero in the next year.
    Well,at least you will have some new monopoly money to play with.
    IRAQ MONOPOLY......yeh,thats the ticket........imagine the cards you draw......
    oops...stepped on a landmine,go back 5 spaces...damn,I should pitch that idea to 'em.
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  • wingnut4772
    wingnut4772 Posts: 7,519
    edited January 2008
    Oh well. It probably is a scam but I guess time will tell.
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  • TroyD
    TroyD Posts: 13,077
    edited January 2008
    I wouldn't hold my breath for anything good to come of it.

    BDT
    I plan for the future. - F1Nut
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  • wingnut4772
    wingnut4772 Posts: 7,519
    edited January 2008
    "Pentagon Pushes For Middle Eastern Marshall Plan"
    [url]=http://blog.wired.com/defense/2008/01/joint-staff-mar.html[/url]

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  • wingnut4772
    wingnut4772 Posts: 7,519
    edited January 2008
    Here is a forum a found which is VERY active and I have learned a lot. There are some ridiculous dreamers here (a lot) but there are actually some contributors with some financial knowledge.

    Investor's Iraq
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