I'm not really sure if this is an appropriate place to post this. Mods, feel free to move if you wish.

I have recently been hearing a lot about investing in the Iraqi Dinar. Does anyone know anything? Apparently the US gov is going to underwrite it and it will increase in value?

Any comments/concerns/suggestions?

Thanks,
Kariak

I have heard this a lot as well. I actually have five million of the new Dinar, it's so cheap it's worth the flyer... I mean think about it, if they value it at even 10 cents I'll make half a million... on a 3500 dollar investment... 5 cents is a quarter of a mil, I can't see the downside.. I mean it's 3500 not exactly a huge sum to risk...

As long as there is plenty of oil in Iraq and it goes freemarket I think it should appreciate in value. Ten cents or a quarter for a dinar is an out there prediction. While it may be "just ten cents" thats a 140000% appreciation. Possible? Yes.

Nonetheless I will continue to sock away money in dinar, I'm actually expecting a shipment soon.

http://www.newiraqcurrency.com/

another one to buy at is another section here at mmg, its also cheaper than the other mentioned site. I don't really care where you buy cause I am not doing anything just watching.


http://www.moneymakergroup.com/index.php?s...opic=14463&st=0

This is the site that the topic is about

http://www.myfreedinar.com/trade2us

i think its gona do well im from iraq,,and i remember the gold ole days of it being worth $3.35 a dinar..give it time..i suggest a minimum 3 year wait..and i belive it will open around $0.15-$0.30 cents..keep an eye on the iraqi stock market,,thats where the real money will be..

I actually went to the effort of opening a bank account in Iraq, this way I can get the actual exchange rate converting US to IQD it's much cheaper than all the websites selling them plus when exchanging them back it's a matter of having it converted to my US account and wired back to me... I paid on average 641.00 per million of dinars.

I too think the dinar would be a very wise investment to make and should be a part of everyone's portfolio!

ho4u could you pm me with instructions on how you opened a bank account in Iraq? I am assuming your not from there and if thats the case I would appreciate it very much. Thanks alot!

ho4u, could you PM me the instructions for opening an Iraqi account as well. I would really appreciate it.

Thanks,

JB

Hello, I've seen sellers selling the Iraqi Dinar on ebay!

So what happens if they suddenly decide to issue new currency when the constitution etc gets sorted

I don't think it would be any different than when the US or any other country changes their currency.

I don't think opening a bank account in Iraq is a good idea. With the corruption and lack of stability, you'll never know when the bank will close and run away with your money.

Ok, some guy on ebay is selling information for $25 about how an Iraqi Dinar can make you a millionaire. WTF!!! Is this a joke?

What is this all about? Someone want to fill me in? Is'nt it a new currency or something?

I WANT TO BECOME A MILLIONAIRE!!!! But I don't get it! How is an Iraqi Dinar going to make me one of those rich jerks?

Maybe the information he will give is :

"Do just like I am doing right now, tell the world that you have some info how a Iraqi dinar can make you a millionaire, sell the info for $25"

A lot of people will buy the info and you will become a millionaire

Ok, I know more now thanx to google...lol.



Anyways, the cheapest I now found is 5,000 iraqi dinar for $30.00. I think I can afford that and I will not gain much with that in the future, but I will also not lose much if it all these people are wrong about this whole thing.

Maybe I was wrong...

This may help.

http://216.227.213.22/~money8/index.php?showtopic=14269

Ha Ha. I should!! I will be the next Rich Jerk...lol. Just Kidding!!

Thanx.

I posted this elsewhere, but some guy is making alright $$$ selling info about purchasing iraqi dinars. I almost paid the $25 to get the info as I read his feedback and everyone was OOOOing and Ahhhhhing about it. Glad I found the info myself at MMG.

I think investing in Iraq dinar's is a good risk to take, I have over a million myself now. But remember there is a high risk and don't use your bill money for this. And you will need patience, this is not going to happen over night if it even does. I have a good feeling about it regardless. The worst thing that could happen is that I will have some play money.


http://www.gidassociates.com/ For a good price on dinar's

How much did you pay to get the 1 million?



Yes, I have decided to start investing too. Will start small and keep getting more as I can with play money.

Is paying $10(includes shipping) for 10,000 dinar a good deal or not really?

Thanx.

Is there a difference in value to circulated and uncirculated iraqi dinar? And where is the best place to purchase? I see that they are selling on E-bay, but i'm leary of purchasing there due to not knowing if the currency is authentic or counterfeit. Any advise would be much appreciated. I talked to a local investor and he told me that if he was my age (young) and could afford the risk, then he would definitely invest in the dinar. I'm just trying to research before making any decisions.

Thank you again for any help you can offer.

McKayla

intersting concept. hmm..... never heard such a thing b4? did u try out?

I am guessing from the link he provided, he paid $780 + shipping for 1 million dinar.

The average price for dinar is $1 per 1000. So $10 for 10,000 is about average. And as with anything, the more you buy the more you save.

I was wondering the same thing. I emailed a company that is selling dinar asking if it was uncirculated, they told me to put it in the memo of the e-gold payment requesting uncirculated bills and they would try to accomplish that. I am also very young, and I purchased 250,000 dinar. Hopefully in 10 years or so it is at about $1:1ID, that would make a good down payment on a house by the time I am 30

I am planning on buying a lot more once the money comes in.

I got most off my dinar's threw e-bay, I got a little here and there. No problem's except one seller who did not send me my dinar's, it's in dispute now, I should get most of my money back.
If you purchase dinar's make sure you purchase the new bill's only, 2003 and up,learn what the bill's look like on both sides and know the security features on the bill's. They got great counterfit protection. I guess I'am saying do some research before you jump in.
If you do use e-bay to purchase your dinar's, just check how long they have been a member and there feedback rating, It's all there to see in front of you. On the one I had trouble with he was a new seller and little feedback. I took a chance.
You can get some decent prices on e-bay. Try to get your dinar's in great condition so read the item description if you use e-bay, don't buy damaged or marked on dinar's. Research before you jump into this, then go for it.

I just bought my first dinar. Should be arriving in the mail soon.

Thank you for the advise. Still researching. Trying to figure out the best way to go. Looks good though. I figure if I start purchasing some here and a little there, it may pay off in a few years.

I also read where smaller notes may be better, due to less chance of being phased out. Has anyone else heard anything along these lines?

McKayla

how much did you buy it for ?
and how do you exchange it when the price rises ?
and does it deliver internationally ?
if you could direct me to some site, it would be helpful

thanks

Haven't heard that, but it does make sense to me. If the dinar grows in value the larger bills will be of less use. But you should still be able to exchange them.

whoa you're sure quick. care to share where you bought it from?

it may be easy to get iraqi dinar now, but how do we change it to us dollar or other currency??

Anyone from singapore doin it??

one more question, do we take delivery of the physical note or can we place it in the bank in our own country??

Everyone should read the following page.
http://www.xe.com/iqd.htm

After you read that, Then think again if iraqi dinars are such a good investment.

wesley

Hey.. hi, nice info...

i nearly bought the iraqi dinar....lol...

but after reading the report... think i'll change my mind...

Thanks for the info as well.

I think I will sit on the fence for this one.

From that site mentioned:
"But if you thought that the IQD was going to go down in value over time, well, then you might start trying to convince people that it was a "great deal" so that you could get rid of all of yours before it nose dives."

Before it nose dives? it is at 1/10 of a cent, it can't get much lower than that. The only way it can get lower is if they replace the currency, quite frankly I don't think the United States will let them do that, it will make them look worse than they already do for the War.

If it was a sure win situation I believe everyone would be a millionaire, but in order to be a millionaire you either have to be lucky or take risks. This is a small risk considering the possible benefits. Just like everywhere else, risk only what you can afford to lose.

The currency is not a free floating currency, Therefore it has not been tested on the open market as to how it would do.

Its going to be many many years before the iraqi economy really gets its **** together (if it does at all). There is an ever increasing possibility of an outright civil war which would destroy the value of the currency.

I will wait awhile before I entertain the idea of spending even a penny on the iraqi dinar as an investment.
The current government is only an interim government. "IF"/"When" an official iraqi government that works is in charge, They just might decide to create a new currency which would officially render all the dinars you are holding completely worthless.

Not to mention the fact that those dinars you spent your hard earned money on are worthless anywhere but iraq. IE no banks anywhere else in the world will honour an exchange request.

wesley

They will not honor the exchange requests RIGHT now because it is not on the open market yet. Most banks in the US will not honor them even when it does hit the market in a year or two from now. But there are banks in other countries that do exchanges and also a few banks in the US that do.

The reason this is a risk is BECAUSE the future is so unexpected with this country. Its a gamble, no doubt about it, I never said otherwise. But if the gamble pays off you are rich. If not, you lost a few hundred bucks. It is kinda like the lottery, except everyone is holding the winning ticket, we just dont know when/if the drawing will be held.

Only spend what you can afford to lose.

At the most macro of views everything is a gamble. What I am saying is to sit back and wait awhile. Things are not looking good for the iraqi government and it will be much much more than a year or 2 for the currency to actually have some weight against other currencies.

You are ignoring the most basic of my points, Those are that the currency can fall further just take a look at the turkish lira, It used to be 1million:1 with the usd.
If/when iraq falls into a civil war the currency will be worthless, And civil wars take years to playout and years to recover from. Especially in the middle east.
If you want a currency to invest in thats a sure bet, Buy the chinese yuan. Buy as much as you can as often as you can, Because it will only go up in strength against the usd.

wesley

True, waiting for more information that Iraq will bring a successful government, and that they will not go into civil war would be of less risk. But I think once they stabalize more the sellers will realize this and they will raise their prices. Not sure though. I may be totally wrong here, I just don't feel like waiting. A friend showed the Iraqi Dinar websites, I did some research, and I acted on it. We will see what happens.

The thing about the IQD opportunity is that it is a small investment for a POSSIBLE huge gain. If you invest in the Chinese Yuan, it may be a sure investment but the possible gain is not as high.

I do respect your opinion though, and I see your point. I am just a sucker for the small invest/huge gain scenario.

Those small investment/huge gain scenarios dont come that often. And as long as you dont mortgage your house to buy Iraqi dinars I wont try and talk you out of it.
However I wouldnt bet the future on just the dinars. I would make sure that I had a well diversified portfolio of investments.

Just know going into this that there is a very good possibility that in 2-3 years the currency you hold wont be worth the paper its printed on. IF/When they decide to create a new currency with the new government the currency that is out there now would be worthless anywhere but iraq. And I highly doubt you will take a vacation there just to spend the currency.

wesley

I agree, but if it does happen I would be very happy And I always follow the golden rule, only risk what you can afford to lose. $250...

I don't know, the old suddam bills are selling to collectors on ebay, I'm sure I can make back some of the money, maybe not, haha, oh well.

Hmm, Interesting.

I've over 10M New IQD, and waiting with p:

Here was the update yesterday from the IMF meeting. Basically, to save you listening to 13 minutes, the gist is the SBA should be in place by the end of the year. That is still the plan and Mr. Dawson sees absolutely no reason why it should not happen by then.

Good news all in all.

http://www.imf.org/external/mmedia/view.asp?eventID=525 (Mods, this is not a referral link! )

If you really want to learn about how much difference a day can make, read this article.

Iraqi oil officials were evidently sand bagging Saddam regime and did not mention that a new oil discovery was found in Iraq. This is expected to make Iraq the world leader in oil production which will bode well for the economic recovery and the impending currency peg.

As I have pointed out several times, any new older than October 15th is useless. Every day makes a difference, good or bad, but old news is useless unless you are totally unaware of event going on in Iraq. This oil discovery puts Iraq on even more stable footing for even faster economic recovery.

http://www.edinarfinancial.net/news...&nm=&ny=&nn=231

For anyone that thinks nothing is happening or if it is it's very slowly, have a look at this:

Latest news from Iraq Updates

5th November 2005 - 11th November 2005

Politics

* Iraqi cabinet discusses US support, Arab League-backed Cairo meeting
* Former Baath party member sets up party to contest general elections
* Saddam’s defense team boycotts court
* Iraq's imperfect Constitution is nevertheless a step forward
* What Are We Holding Together?
* Iraq's ex-defence minister Al-Sha'lan forms election bloc
* Iraqi Planning Minister Barham Salih on Iraqi Debts and Corruption
* Sunnis Demand for the Discharge of Sa'dun Al Dulaimi, Iraqi Defense Minister
* Iraq's electoral commission discovers irregularities in northern province
* Iraq Sunni faction to attend "reconciliation" conference
* More than 200 parties register for parliamentary elections
* Iraq's Sunni-Shiite Split Shadows Holiday

Security

* 45 dead in Iraq after suicide attack, car bomb
* Al-Qaida claim links hotel bombings that killed 56 to Iraq war
* Defense Minister: Ukrainian troops have completed their mission in Iraq
* Baghdad restaurant blast kills dozens
* Dishonest media coverage of ongoing crimes in Iraq
* Latvia extends troop mission to Iraq by one year
* U.S. military reports killing two alleged terrorist leaders
* Zarqawi group claims Baghdad restaurant attack
* 40 dead in Iraq suicide bombings
* Iraqi insurgents find killing prowess in technology-fueled bombs
* Iraqi army finds 27 bodies near Iran border
* Iraq blast kills seven policemen
* Iraq force wins extended mandate
* South Korean troops to provide security for U.N. office in Iraq
* US reports ongoing fighting in Ramadi
* Marines say five insurgents killed, 10 detained in Ramadi
* Japanese agency reports attacks on troops in southern Iraq
* New Iraqi anti-terrorism law to affect Iranian opposition group
* Pentagon identifies major elements of 2006-2008 troop rotation for Iraq
* ArmorGroup warns on profits as boom in Iraq subsides
* US forces to be pared down as Iraqi forces take over - Rumsfeld
* Senior police officer killed in Basra
* Army Translator Suspected of Spying
* Iraqi aide says Al-Qa'im under control; rejects Al'Qa'idah threat
* Outburst of violence highlights role of militias; fuels anger at the government
* Second Saddam trial defence lawyer murdered
* UN extends Iraq force mandate
* US Iraq offensive goes house-to-house
* Iraqi politicians condemn US offensive
* US and Iraqis edge forward in western Iraq offensive
* U.S. slowing flow of foreign fighters into Iraq
* In Iraq, they're revisiting Vietnam-era counterinsurgency
* Japan mulls withdrawal of Iraq troops next year
* Al-Qaeda threatens Iraq mayhem unless US forces halt assault near Syrian border
* Iraqi president warns Italy against premature withdrawal
* Two mortar rounds hit Baghdad's Green Zone, police say
* Facing Death
* U.S.-led force launches major attack on al-Qaida in Iraq stronghold, major test for Iraqi soldiers
* Fighting continues in western Iraq
* Competition hits security groups in Iraq
* Al-Qaida in Iraq threatens to attack foreign diplomats
* Travel remains risky in Iraq, but signs of improvement emerge in some areas
* Morocco rejects "blackmail" of group holding citizens in Iraq
* Aegis Defence adds Rubicon to its portfolio
* Al-Qaida in Iraq claims it downed U.S. helicopter that killed two Marines
* Six Iraqi police killed in early morning clash
* Cut in U.S. troops in Iraq not assured
* The reason why Britain should withdraw from Iraq

International Organisations

* UN says thousands of contaminated industrial and military sites in Iraq need clean up

International Relations

* U.S. Secretary of State Rice makes unannounced visit to Iraq
* Rice pays surprise visit to Iraq
* Syrian president says stance towards Iraq "misrepresented"
* A Noticeable Shortage in the Water of the Euphrates
* Iraqi PM, British foreign secretary hold talks 10 Nov
* Iraqi President Meets Pope Benedict XVI
* Rumsfeld criticizes Saudis, Jordan for wait-and-see stance on Iraq
* Iraq's Allawi meets Lebanese PM in Beirut
* Chalabi welcomed back to Washington
* Iraqi President Talabani to meet Premier Berlusconi in Rome
* Chalabi offers the White House an exit route from Iraqi quagmire
* Iraq sets up committee to resolve water issue with Iran
* Tension over Iran must not embroil Iraq, says Chalabi
* Iraq's Talabani to begin visit Italy
* Iraq proposes joint inquiry with UK, Iran into Basra attacks
* Ukrainian defence minister visits Iraq ahead of troop withdrawal
* Iraq, Arab League agree pre-conference meeting 19 November
* Chalabi to visit U.S. ahead of Iraqi elections
* Iraqi-Jordanian security MoU takes effect today
* Ahmad Chalabi Got Them Into It
* Chalabi talks with Iranians ahead of U.S. visit
* Business increases between Turkey and Iraq
* The Oil-for-Food Programme: Closing the Cycle
* Arab League delegation arrives in Iraq
* Iraqi foreign minister discusses conditions for national dialogue, neighbours

Conferences

* Iraq To Participate in a Business Conference.

Economy

* Iraq's economic divide
* Japan Writes Off 80 Percent of Iraq's Debt.
* U.S. owes Iraq $208 million
* Japan to write off 80 per cent of Iraq's debts

Agriculture & Farming

* A new Pricing Formula For Locally-Produced Grain
* An Ambitious Development Plan for Agriculture in 2006
* Sugar Production Is To Be Increased in Iraq
* Iraq works to create digital land registration system

Building & Construction

* Tetra Tech Awarded $14 Million Civil Engineering Project in Iraq
* Iraq Wishes To See More Gulf Companies Participate in Housing Schemes
* 700 Strategic Projects Over the Next 3 Years
* An Ambitious Housing Plan for Government Employees

Energy – Oil & Gas

* Oil discovered in Babil
* Oil Discovery in Babil
* Iraq earns $88 million per day from oil incomes
* Former oil minister links Iraq's recovery to political stability
* Iraq can more than triple oil output once order restored

Finance & Banking

* A New Bank For Pensioners
* Tameer Real Estate, Iraq Holding plans public share offering in November
* Dealings at Stock Exchange surpass 18 Billion ID since the Fall of Saddam
* Iraq is about to Issue new Regulations for Organizing the Work of Exchange Offices

Reconstruction & General Commerce

* Official reports efforts to develop Iraqi ports
* 60 Million Dollars For Kerbala City

Leisure & Hotels

* Iraq To Build a Large Sporting Stadium
* First Scientific Tourism Conference in Baghdad
* Pillaging the Gardens of Babylon
* The Iraqi Marshes and the Promised Financial Grants
* Iraq plans hotel and theme parks for a tourism boom

Manufacturing & Industry

* Japan’s Offer to the Ministry of Industry.

Transport

* National airline plans flights to London, Athens
* Iraqi Airlines plane departing from Iran not allowed direct flight to Baghdad
* First Iraqi plane lands in Tehran since 1980
* New Air route Between Iraq and Iran.

Utilities

* New Electricity Generators For Cement Factories


Source:
Iraq Updates Ltd
subsidiary of Audax Communications Plc.
7 Stockwell Terrace, London SW9 0QD


Good luck to all.

Benito Livigni, a manager of ENI and the United States’ Gulf Oil Company said, “Iraqi’s oil reserves are estimated at 400 billion barrels, far more than the known figure of 116 billion.”

“This would make Iraq the largest oil producer in the world, ahead of Saudi Arabia, the report says!”

An update - Have a look at this.

http://usinfo.state.gov/xarchives/display..../wf-latest.html

poor iraqis...

[Update]

http://www.almendhar.com/almendharen/details.aspx?nID=4175