Iraqi Dinar investment.... DON'T DO IT!

[=Stephens=]

When I was in Kuwait in 2005, I bought some Dinars. The theory is in 1991 during the Gulf war, the Kuwaiti dinar was worth nothing. If you were there in 91, and bought a million kuwaiti dinars, today it would be worth about 4 million US dollars. The Iraqi dinar is in the same situation as the Kuwaiti dinar was in 1991.

One belief is it is a scam and don't waste your money. Another belief is the government tells you not to buy this money because they don't want a ton of millionaires running around getting rich quick.

The money is backed by the oil, and Iraq is one of the largest producers of oil. If they run out of oil the money would be worthless. I spent my money and am taking the risk, if nothing comes out of it I have some nice souveniers.

[Taintedveins]

Originally Posted by Skogen

Tell your friends I have some Ocean Front Property in Arazona for sale....

I can do you one better I have ocean front in Arizona!

[Brokinarrow]

Originally Posted by =Stephens=

When I was in Kuwait in 2005, I bought some Dinars. The theory is in 1991 during the Gulf war, the Kuwaiti dinar was worth nothing. If you were there in 91, and bought a million kuwaiti dinars, today it would be worth about 4 million US dollars. The Iraqi dinar is in the same situation as the Kuwaiti dinar was in 1991.

One belief is it is a scam and don't waste your money. Another belief is the government tells you not to buy this money because they don't want a ton of millionaires running around getting rich quick.

The money is backed by the oil, and Iraq is one of the largest producers of oil. If they run out of oil the money would be worthless. I spent my money and am taking the risk, if nothing comes out of it I have some nice souveniers.

Yeah, there IS the possibility that it will take off. But, like I said, there are a LOT of websites popping up that aren't even licensed to sell foreign currency here in the US. Just gotta be careful.

Originally Posted by IrocJack

Before the war one 25,000 dinar was worth 75,000 us dollars. I bought 10 of the new 25,000 for 100.00 off Ebay awhile back. See what happens I guess.

Yeah, that's not bad. I had a coworker that sunk $1200 into it, and he really should be using that $1200 for more important things.

[IrocJack]

Look here at what someone bought recently:



IRAQ: Authentic Fifteen Million Iraqi New Dinar 600 X 25000 IQD UNC MINT

See original listing




Item condition:UncirculatedEnded:Apr 07, 201205:20:03 PDTWinning bid:US $13,650.00 [ 1 bid ]
Shipping:FREE FedEx Ground or FedEx Home Delivery
Item location:Amman- Jordan, Jordan

[=Stephens=]

I had mine, money I hand when I got mine inKuwait. And yes there are websites popping up all over. And you have to be careful. Knowing someone who is over there and having them get it is much better way to get it.