Iraq Dinar Speculation

Please help me feel better about this article I read. I just invested in the Dinar & this made me feel worried.

Why NOT to invest in Iraqi Dinars!

Overview

A number of people have begun touting so-called “investment” opportunities in the Iraq Dinar as a “sure way” to make a lot of money with little or no risk.Is “investing” in the Iraq Dinar a sure way to profit? I don’t think so. In my opinion, buying the Iraq Dinar is a high risk investment with a poor outlook.

A Little History

The official rate of the old Iraq Dinar, $3.22 USD (U.S. Dollars), was set in 1982 by Saddam Hussein. The old Iraq Dinar could not be freely traded, so this rate was never tested or upheld on the world market.

The current Iraq Dinar (IQD) was introduced between October 2003 and January 2004 by the Coalition Provisional Authority in close consultation with financial experts from Iraq and the international community. The IQD is currently valued at a little less than seven hundredths of a US cent. (1 USD = 1460 IQD)……. (*edited to remove super long story!)

My credit union now sells iraq dinar in Hawaii so this I take is good news.

There was only one person that was keeping me informed, my very good friend and he passed away and was worried of how I will find out, but another friend gave me your name and I cannot tell you have grateful I am to her for given it to me. I am also so grateful to you for keeping us informed. Thank you so very much.
Rita

KMG, a GREAT place to post that entire article is on the DinarVets.com forum!

I’ll address part of it though. (My summary is this: it’s one opinion, not a fact. Opinions are like elbows, everyone has one or two – that doesn’t mean they are right!)

1. “A number of people have begun touting so-called “investment” opportunities in the Iraq Dinar as a “sure way” to make a lot of money with little or no risk.”

Answer: If you were told this is a surefire investment, you were misled. That part is correct.

2. The official rate of the old Iraq Dinar, $3.22 USD (U.S. Dollars), was set in 1982 by Saddam Hussein. The old Iraq Dinar could not be freely traded, so this rate was never tested or upheld on the world market.

I disagree. Although the world rate was never officially marked at $3.22, it was used at a value of $3.22 for an extended period of time, so it was WORTH $3.22. If someone will pay it – then it has that value. If more than one person will pay that price – then it has a market. Don’t listen to the naysayers when they have nothing of substance to back their “nays”.

3. The IQD is currently valued at a little less than seven hundredths of a US cent. (1 USD = 1460 IQD)…….

I’ll close on this point: The IQD is now traded at 1170, a 25% increase since 2006. Considering this to be a speculative investment, that’s a reasonable return.

alohakid73

Which credit union is it?

Thanks