Iraqi Dinar Revalue ... Where the economics heads at!

[heatking]

whats up NT?

i was wondering if anyone had any opinions or info on the Iraqi Dinar Revaluation situation that's going on right now(well has been going on for a while). I just heard about it not to long ago and got a hook up with a good exchange rate (my friends dad owns currency exchange place) so i dropped some racks into it to hopefully see a revalue in a couple years. Just wondering if anyone else is following this or is investing into this as well. some people think its a scam or whatever but it seems pretty legit to me. I'm thinking about investing into Vietnamese money next but trying to see what happens with this dinar first lol.

hoping to get some discussion going on this thread, if your negative and don't know about whats going on don't flame the thread please!!!

thanks
-heatking

 

[651akathepaul]

Shouldn't of done it. This "revalue" is nowhere in sight as of right now. All hype.

 

[heatking]

well i know its not gonna happen any time soon. when i first invested into it i expected to wait atleast a minimum of 5 years. economy's don't just steady over night. i think people have the misconception that the revalue will be very soon like 2012 era then come to the conclusion its a scam or complain about it etc etc

 

[crcballer55]

They have been talking about this for at least the past 8 years and it has yet to happen. Could it happen? Sure, but you're basically investing in a new currency in one of the most volatile areas in the world. There's a reason why you got a good exchange rate. If someone invested in Egyptian or Lybian currencies before their downfall they would have lost everything. The same thing is still possible in Iraq at this point too.

 

[heatking]

well egypt or lybia doesn't contain some of the worlds most precious fossil fuels and iraq from what i hear is getting more stable everyday. i get what your saying though it is a gamble which is why i only invested what im willing to lose. i went into the investment the same way people go into the casino haha.

Also a lot of people are investing their businesses over in that country. i watched some nat geo of these x-marine x-military dudes that where called mercenaries and they escorted these wealthy business people around the towns so they could go handle their business and just incase some angry middle easterns tryed to pop off the mercenaries would be right their to strike back.

 

[heatking]

damn only 2 people know about the iraqi revalue... not that many people know about this on NT it looks like i dont know if thats a good or bad thing for me... lol

 

[crcballer55]

Originally Posted by heatking

well egypt or lybia doesn't contain some of the worlds most precious fossil fuels and iraq from what i hear is getting more stable everyday. i get what your saying though it is a gamble which is why i only invested what im willing to lose. i went into the investment the same way people go into the casino haha.

Also a lot of people are investing their businesses over in that country. i watched some nat geo of these x-marine x-military dudes that where called mercenaries and they escorted these wealthy business people around the towns so they could go handle their business and just incase some angry middle easterns tryed to pop off the mercenaries would be right their to strike back.

Egypt has the Suez Canal though, which is arguably the most important waterway in the world since Saudi Oil and other valuable commodities sail through there into Europe & the U.S. from the Middle East.

Regarding the mercenaries... we have those in Afghanistan too, but that hasn't kept their army from being the biggest threat to our military. Once someone is willing to die after they kill you all preventative repercussions are out the door.

 

[heatking]

thats true, i suppose i need to find someone who was in iraq recently to let me know how it is over their. i can't really find news or anything on the internet. maybe im not searching hard enough i dont know. i did find the government calender and apparently they just started a 40 day vacation starting on march 29 or something like that.

Crcballer55 did you invest into the dinar at all or nah?

 

[lilchico4life]

I purchased Iraqi Dinar as a pure gamble about a couple years back. I can't remember what exchange rate I got at the time. I honestly don't see it going anywhere anytime soon though. Worst case scenario, I lose $1k.

 

[tnw]

Its a gamble at best

The amount you could lose is much greater than your potential gains

Just because u got a "deal" on the exchange rate doesnt make it any better of an investmrnt

 

[crcballer55]

Originally Posted by heatking

thats true, i suppose i need to find someone who was in iraq recently to let me know how it is over their. i can't really find news or anything on the internet. maybe im not searching hard enough i dont know. i did find the government calender and apparently they just started a 40 day vacation starting on march 29 or something like that.

Crcballer55 did you invest into the dinar at all or nah?

No, I don't invest in currencies. They are pure gambles. All of my investments have LONG track records.

 

[devildog1776]

i was supose to buy a couple hundred dollars worth last yr but i didnt see the revaluation coming anytime soon... a new ww will have to kick off in order to make change in the world

 

[e3lal]

isn't this really like a scam though?

http://www.dfi.wa.gov/con...ts/iraqi-dinar-scams.htm

 

[heatking]

my exchange rate was hooked up because my friends dad has a currency exchange store at the mall and gave me like 5% instead of the normal 20% if you go to the airport or wherever they do it.

as for a scam i think they are referring to people buying dinar from online vendors who don't send them the actual currency but just a paper saying they purchased currency. i've heard of people complaining about this. i know the revalue isn't suppose to happen for a while i expected at least a minimum of 5 years before i dropped racks into it. i have a good amount invested into it, just what i can afford to loose though. if iraq stables and gets their %%@% together i can see their dollar being worth the same if not more than the US dollar. Before Sadam was in power the iraqi dinar was actually worth more than the US dollar, but once sadam got into power he started printing money and the value just kept going down and down.

I started this thread just for discussion see if anyone knew anything on it and whatnot, glad to see more people participating.