American Contractor

Unfortunately AC, most of these forum members are ripe for the picking.
When one reads their posts, one can easily ascertain that the majority of these members have similar traits, not limited to:

- An overall lack of investing experience.
- Lack of experience handling money.
- Lack of formal education.
- Are easily influenced by herd mentality.

They are easy pickings for the unscrupulous forum dealers to take full advantage of their situation. It is especially galling when a forum has members that have been so thoroughly duped, that these irrationally exuberant members actually shout down those members who are trying to help them see the light. Then, the forum moderators (nee dealers) don their white Stetsons, ride in and purge the forum of the offending “naysayer”. Like true grinning lackies, the "yeasayer" members actually thank the moderators for saving them from reality.

Rinse & repeat.

Northern Investor you have it the nail on the head. I remember a time when a serious minded individual tried to educate the forum to give guidance when none was asked only to be called on the carpet and then chastised and a credibility question. This individual then left the forum to go on and do bigger and better things with the investment. The forum would have learned a lot from this individual only to have the moderator wizards and other short sited members of those dinar forums left to their own demise.

Some real winners on those forums. I am waiting for the other shoe to drop just so I can say I told ya so.

AC, the public Dinar forums of today are no place for a serious investor. In just over two years, I have witnessed these forums degrade from credible, networked sources of shared information, to soap opera status.
They have lost their leaders, their honest, experienced & realistic members. These members now just sit on the sidelines, read, and shake their collective heads.

The trusted forum leaders of the past have been replaced by cheerleaders, rumormongers & up lifters. These charlatans are almost always in the employ of the forum owners. They never miss an opportunity to “rattle their swill barrels”, hawking cash Dinar sales to the unwashed masses.

I feel sorry for all of the serious minded investors who used to frequent these places, as they’re now all outcasts.

Dinar is not illegal outside of Iraq,Chase bank sells them and from what I understand they get them from BOA.When the new Dinar was introduced it was 4000 per USD. As of today the rate is 1254 per USD,thats about a 32% profit on your initial investment. Try getting that at your bank.

Correction on previous post,that would be about a 64% profit on your investment ,so far,not 32% and getting better every day. Their ultimate goal is to revert back to the saddam era of around $3.00 per Dinar,read the posts thoroughly and you will see why this ultimately is a good investment. Get your head out of your hat and you may want to buy some Dinars.

Correction on previous post,that would be about a 64% profit on your investment ,so far,not 32% and getting better every day. Their ultimate goal is to revert back to the saddam era of around $3.00 per Dinar,read the posts thoroughly and you will see why this ultimately is a good investment. Get your head out of your hat and you may want to buy some Dinars.

I have been in Iraq since 2005 and brought 8 million @ a rate of 1500 to the dollar, it's now down to 1256 against your dollar making my initial investment of £2500 or $4200 at 2005 rate of exchange now worth about $6500.
1. the currency is traded in both the US and UK banks.
2 it's not illegal to take it out of the country.
3. i can sell you some if you missed the boat!!!! Northern Investor, to state that most iraq dinar forum members are ill educated shows a severe lack of knowledge on your part. I suggest you go buy some Dinar have a coke and a smile etc.....

I have not only read each post but carefully weighed my options.
I could have kept silent but I will not...

First off, dinaros is wrong...
The value of the dinar is EXACTLY in the same price range as it was traded at pre-war (I have proof) and currently it's traded in a very tight band and will be that way for a long time to come.
Any small increase corrects the inflation.
Sadly, this rate can be maintained for many years to come.
Sadaam allowed the rate at $3.22 for only one or two days to allow his lackies the opportunity to obtain foreign currencies, gold etc. The mainstream Iraqis were never told about the rate change and therefore received no benefit of the rate change before it reverted back to the old rate.
There are many factors that influence the rate..
namely-- security, political issues and exports.(of which they have very little)
Will those facts change in the near future ?
No, afraid not.
The fact remains, the only people who got rich off this investment thus far is the forum owners who sell dinars.
Be that as it may, many innocent people have been dupped...truly taken advantage of by forums.
They work tirelessly day and night hunting news of progress in the hopes of increasing their own financial gain.
But I can't feel sorry for those who choose NOT to wise up.

If it was impossible for the rate to stay this low, how is it that other stable prosperous nations are able to keep a lower exchange rate ?

Rest assured, AC, Northern Investor and myself have in no way,......

Missed any boats.

Gary, I don’t understand your comment about Chase Bank.
Yes, Chase has been selling Dinar. Yes, GWB said it’s ok for Americans to invest in Iraq.

But why would you think that Chase Bank (in the USA) is governed by the wishes of the CBI? It is the CBI that does not want copious amounts of Dinar to leave Iraq for obvious reasons. The CBI wishes to keep currency speculation to a minimum.

For those people who buy from Chase, it is clearly a case of caveat emptor (buyer beware). Chase is not breaking any American law by selling Dinar.

Remember that all financial transactions are double entry. You must still cash in your Dinar for it to be of any value to you in the short run (unless you plan on moving to Iraq). What are you going to do?

You state that Dinar outside of Iraq is not illegal. Then why has the GoI placed restrictions on the amount of Dinar that can leave the country?
The restrictions are there to prevent massive amounts of the currency leaving the country.

Now, do you believe that the Iraqi government is unaware of the Dinar smuggling that has occurred?

When you saunter up to the bank to cash in your millions, how will you prove that you were in and out of country often enough to have amassed your millions of Dinar? Good luck with that!

If you think the CBI will stand for the massive speculation on the Iraqi Dinar in it’s current form, my opinion is that you are sadly mistaken.

Brett, please do not misconstrue my comments about the Iraqi Dinar, nor Iraq in general.

I believe that Iraq will succeed. I believe that the value of their currency, perhaps not in its current form, will increase. I believe the value of stocks on the ISX will increase.

I do not believe that millions of currency speculators outside of Iraq will profit in the manner that they are thinking.

As far as me missing the boat, time will tell Brett. Time will tell

4000 to 1254 = 32% profit?
Correction… 4000 to 1254 = 64% profit??
Moving from 1500 to 1256 turned $4200 to $6500????

Thanks for proving the point guys. This is just too funny. I guess this stuff was 4th or 5th grade math… if you were slow.

By the way. 4000 to 1254 would be about 318%
Moving from 1500 to 1256 would turn $4200 to about $5016

LOL… you guys better not come on my show.

i know what i invested and how much it is worth now, it has never been 4000 nid to the $, so i don't know where you got that from? i pointed out that i brought in pounds so with im including capital gained with the rise of the pound against the dollar.

With Trillions of dinar in circulation Iraq will do a reprint and everyone will lose their money. Kuwait has done 5 reprint so this so called investment is lost. You know what they say about a fool and his money

It’s truly stunning on those boards. The reading comprehension level is pathetically low.
Many threads are started by posting an article, and in practically every one of them the poster misinterprets the info… and those are the smart ones. The lemmings then cheer them on with blind adoration proclaiming the massive revaluation is right around the corner. When someone finally points out the true meaning of the article they get attracted by the mob… for they all know the cult leaders would not lead them astray.
It’s funny but really quite sad.

After reading all the posts of people who have bought Iraqi dinar and hoping for an eventual payoff with an actual revaluation of Iraq's currency will only be disappointed in the future. The State of Utah researched the Iraqi dinar currency as one of the top ten scams of 2006. I don't believe nothing significant has changed with the dinar since then as we are half way into the year 2007. As I have said before there will be no revaluation of Iraq's currency for the remainder of the year at-least not with these bank-notes in their current form.