Iraqi Dinar ?

[J88ROCK]

Anyone here have any? If so what's your thoughts on investing in it? Today I heard some caller bring it up on Hannity and compare it to Kuwait during the 1st Bush war.

[MasterOfMeatPuppets]

[MasterOfMeatPuppets]

Anyone here have any? If so what's your thoughts on investing in it? Today I heard some caller bring it up on Hannity and compare it to Kuwait during the 1st Bush war.

http://bizcovering.com/investing/the-iraqi-dinar-scam/

[J88ROCK]

If that's the case I wasted about 600 bucks 6 years ago. Before I bought I saw an article where Warren Buffet said he had made 2 billion of his 40 or so at the time by investing in different currency markets. He said something like the best time to buy is when a country is at war. So I bought. Now if you believe the Bible- Iraq/Babylon will be the mecca near the end I don't see this happening with it set at 1170/$1. Just remember you heard it hear first. Master of the Meat Puppets should be chimming in right about ..... NOW! Hey if nothing happens with it I can have the world's 1st Iraqi monoply game.

If so what's your thoughts on investing in it? Today I heard some caller bring it up on Hannity and compare it to Kuwait during the 1st Bush war.

Investing in it sounds like a stupid idea. It's a fixed exchange rate. The IMF set it to 1170 for 1 dollar. If they revalue it, doubt they would make it stronger versus the dollar. They'll make it weaker to help the economy. So chances are you'll either make nothing or lose money. You can't walk into your bank and buy dinars and it's not traded on a exchange. You have to buy it over the counter from a market maker and they charge a preimum. Instead of giving you 1170 dinars, they give 800-900 depending on how much you buy.

dinartrade.com
http://www.dinartrade.com/order.php

100,000,000 Dinars for $102,000.00

If you bought that from the Iraqi Central Bank, you'd get 119,340,000 dinars. So you're paying $16,529 extra.

Kuwait's currency is fixed too so don't know what the story is with investing in it during Desert Storm. Maybe Kuwaitis thought it was worthless so they were selling it cheap for a few months over the counter during desert storm. If that's the case, that's not the situation with Iraq's currency.

From March 18, 1975 to January 4, 2003 the Kuwaiti dinar was pegged to a weighted currency basket. From January 5, 2003 until May 20, 2007, the pegging was switched to 1 U.S. dollar = 0.29963 dinar with margins of ±3.5%.