Does anyone know what is going on with the Iraqi Dinar? I have been told that they stopped trading it for a restructure; does this mean it will go up?
- Thread starter nock
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Re: What is going on with the Iraqi Dinar?
One of my co-workers is in this for about 10k u.s.
Thinks he's about to become a multi-millionaire.
It's a shame.
One of my co-workers is in this for about 10k u.s.
Thinks he's about to become a multi-millionaire.
It's a shame.
Re: What is going on with the Iraqi Dinar?
I'm no financial wiz but I would invest my money to the guy with the will work for food sign before I would invest in the Dinar.
I'm no financial wiz but I would invest my money to the guy with the will work for food sign before I would invest in the Dinar.
Re: What is going on with the Iraqi Dinar?
Billions, maybe trillions of new dinar have been purchased (and are being hoarded) by people who bought into the Iraqi dinar sweepstakes sales pitch. Now they're all waiting for it to be worth a ton more than what they paid for it. Some of them have been holding nearly eight years now, and they all have zippo to date to show for it ...except for the bag full of monopoly money in the back of the closet. So I'd imagine most of them are getting pretty anxious for some ROI.
So what do you suppose will become of those billions -- maybe trillions -- of dinar once it becomes worth even pennies on the dollar more that what they paid for it? I'd imagine they will dump them in a New York second. The currency market will be flooded with speculator's dinars and the price will plummet. The first to sell will turn a small profit and the rest will go in the hole.
This would be catastrophic for the citizens of Iraq, most of whom probably have a life savings that's a fraction of the value of the average GI speculator's stash. So if it ever reaches the stage where international acceptance is imminent, the Iraqi government probably will print another new currency, 'disendorse' the current notes -- just like they did Saddam's Swiss dinars -- and give their citizens a brief amount of time to take their old currency to the local bank and exchange it 1-1 for the new. This will reduce the potential problem of too much Iraqi currency flooding the international market, as well as 'burning' the majority of those foreign speculators because most will not have the ability to return to Iraq and swap theirs. And the government will make a tidy profit in the exchange because it no longer has to back the billions of "disendorsed" dinar being hoarded by those foreign speculators.
But that all presumes it ever will reach the point of being traded internationally again.
Billions, maybe trillions of new dinar have been purchased (and are being hoarded) by people who bought into the Iraqi dinar sweepstakes sales pitch. Now they're all waiting for it to be worth a ton more than what they paid for it. Some of them have been holding nearly eight years now, and they all have zippo to date to show for it ...except for the bag full of monopoly money in the back of the closet. So I'd imagine most of them are getting pretty anxious for some ROI.
So what do you suppose will become of those billions -- maybe trillions -- of dinar once it becomes worth even pennies on the dollar more that what they paid for it? I'd imagine they will dump them in a New York second. The currency market will be flooded with speculator's dinars and the price will plummet. The first to sell will turn a small profit and the rest will go in the hole.
This would be catastrophic for the citizens of Iraq, most of whom probably have a life savings that's a fraction of the value of the average GI speculator's stash. So if it ever reaches the stage where international acceptance is imminent, the Iraqi government probably will print another new currency, 'disendorse' the current notes -- just like they did Saddam's Swiss dinars -- and give their citizens a brief amount of time to take their old currency to the local bank and exchange it 1-1 for the new. This will reduce the potential problem of too much Iraqi currency flooding the international market, as well as 'burning' the majority of those foreign speculators because most will not have the ability to return to Iraq and swap theirs. And the government will make a tidy profit in the exchange because it no longer has to back the billions of "disendorsed" dinar being hoarded by those foreign speculators.
But that all presumes it ever will reach the point of being traded internationally again.
Re: What is going on with the Iraqi Dinar?
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http://cgi.ebay.com/ONE-UNCIRCULATED-ZIM...=item3a66dd3872
