Investing in IRAQ money.

If any of you don't realize it, the iraq money was at an all time low recently and people have been buying iraq money in the hopes that it will increase in value (its almost a guarentee). you can buy 1 million for about 600$ USD and in 5-10 years it could be worth 20,000$ so its a very good investment but...

Theres alot of talk about people selling money and shipping it out of the country for the buyers to hold on too. But theres alot of talk going on about wither or not this is legal in IRAQ law. there was a law against sending IRAQ money out of the country but there was no real law saying if it was shipped out that it would become worthless.

so what im wondering is, how would they know... and does anyone know a good possible middle man to buy from? my sisters husbands over in IRAQ right now, is it possible for him to do exchange right there in IRAQ and bring over money if we sent him cash?

Right now banks are basically getting 50%+ more than what the value is right now. So does anyone have any ideas on this?

 

There are plenty of web sites selling Iraq money (dinar) online and eBay is swarming with people who will sell you anywhere from a 50-dinar note to several million dinars (usually in 25,000-dinar notes).

Now, the advocates of "investing" in dinars who, not surprisingly, are often the same people who will sell them to you, say that the big profit opportunity will come in the future when things settle down in Iraq and the currency begins trading on currency exchanges as the U.S. dollar and other currencies do. Even if it starts trading on world exchanges, it's not a given, nor is there any evidence, that the dinar's value will be higher then than it is today.

It seems like much more of a "gamble" than an "investment".

There is a forum you can go to where you can probably get a lot more information. It is called "Investor's Iraq Forum". (http://www.investorsiraq.com).

Jim

 

Investing in China Curreny RMB is the way to go right now.

 

...a very big gamble. Whenever the U.S. finally gets smart and pulls out of Iraq, the place is going to fall apart (even worse than now). I don't see this being a good long-term investment.

 

The question is, will this currency become defunct and therefore the investment become worthless?

 

that should be what, 200 years?

 

I am not sure whether it is worth investing in IRAQ given the political situation in the country!

I would prefer investing in my own country!

 

(from JIM) There is a forum you can go to where you can probably get a lot more information. It is called "Investor's Iraq Forum". (http://www.investorsiraq.com).

- Just checked the forum out - a few of the threads regarding the DINAR currency - lots of people on there saying "the ink rubs off the notes" - OMG severe fake's being sold

Leave well alone in my humble opinon - I'm based in the UK - for a mid term dabble i've bought USD at 2.00 - now, i'm not looking for a quick get rich scheme here, but a sensible investment with a strong currency.

Also China, and other far eastern currencies are far better dabbling in - and Euro too!

 

I thought about buying the Iraqi Dinar a few months back on eBay. But I always thought they were fake. Anyone know where I can get some real Iraqi Dinar?

 

to be honest the situation in IRAQ can only get better if US pulls out, even with Sadam in power the Dinar was like 25 to 1 USD, thats better than 1304 to 1 or w/e it is now. Even if it fell back to dicatorship the value could only go up, they have the worlds 2nd largest oil reserves, and the USA has been giving IRAQ billions, and i think they said 80 different countries had lowered there debt towards IRAQ so it can help it grow. Its getting all the right stuff to succeed. they just gotta make it happen.

 

Hmm currency investing - sounds risky but potentially lucrative. Is there a chance that IRAQ could abandon those notes in favor of something new?

 

To be honest, thats what I fear as well. Thats why I haven't biought any yet and also the fact that these are most likely counterfeit notes as well.

 

This is a very risky investment. If you are prepared to lose your money and can find a place where you are guaranteed buying real dinar notes (not counterfeit ones) then go for it. Just be prepared to lose all your money if Iraq gets broken up into smaller countries or civil war continues on and on. The investors were talking about investing in Iraqi dinars five years ago shortly after the invasion and at the time they said that it would go up "in a couple of years". Here we are 5 years later and it's still not gone up.

 

Investing or Gambling with Wax state.. that all i can say, you wont know what will happen. Agreed with the fact of OIL reserves, the point is when US will leave Iraq and what will be the condition of the country @ that time. Because i dont think so US will leave any oil reserves for the Iraqis.

 

Investors Iraq is a scam by a indian named Sam and sells you fake (good fakes, but still fake) iraq money. Do not trust Sam!

 

thats why i was asking if its possible for a soilder to go buy currency over there at a local bank, and return with the money. There are stories of contractors who did the same thing.

 

Instead of trying to make a quick buck. Does everyone realize how really f#%ked up the Iraqi situation is?

 

for 5 years now. i think everyone is done caring.

 

I thought so. I knew the currency sellin on stuff like eBay was counterfeit.

 

I think if you look into investing into diners that you gotta have preparation if all comes down to nothing. I do see an investment opportunity here but a risky one. All boils down to how much of a risk taker you are.

-Swapw