Investing in the Iraqi Dinar?

[MrWannabe]

A friend of mine has been advising me to invest in the Iraqi Dinar. He speculates that it will be a great investment what with the American funding into Iraq's infrstucture and looking back historically to what happened with the Kuwait Dinar with the Gulf war? Any insights and opinions welcome...peace.

[Kaiser]

I'd never invest in an Iraqi Dinar because I just don't like middle eastern food.

[gridlock]

Originally Posted by Kaiser

I'd never invest in an Iraqi Dinar because I just don't like middle eastern food.

took me five minutes but am now PMSL

[swing lo]

I think it is a gamble as well and I think it will be a longer time than kuwait for the Iraqi dinar to hit the world market to make a decent gain on it.

I went ahead and bought 1,000,000 just for the sake of it and i guess we'll see what happens in the next 10-15 years. I thought about buying more but I just don't know yet.

[deltaguy]

Originally Posted by swing lo

I think it is a gamble as well and I think it will be a longer time than kuwait for the Iraqi dinar to hit the world market to make a decent gain on it.

I went ahead and bought 1,000,000 just for the sake of it and i guess we'll see what happens in the next 10-15 years. I thought about buying more but I just don't know yet.

i think you would have made out better by putting your $850 USD into an ING acct. LOL...

I am definitely comfortable investing in emerging markets but not in an individual currency such as the iraqi dinar simply because I don't see the ror being remotely attractive any time soon. Too many variables.

[swing lo]

I paid 400 for mine back in 2005 in Baghdad central bank. No spending 850 for me.

400 is nothing to me personally though. Investments are a risk.

[deltaguy]

Originally Posted by swing lo

I paid 400 for mine back in 2005 in Baghdad central bank. No spending 850 for me.

400 is nothing to me personally though. Investments are a risk.

regardless of the amount, I wouldn't do it but that is my opinion and what do i know.

yes, but a wise and successful investor will hedge his bets to mitigate the risk.

[gogotren]

I would not buy dinar because the possibility of them issuing new currency in the next 5-10 yrs is high. If they issue new currency what you have would be worth zero, or really ugly wall paper. You want to invest internationally... look at russia. 2 really good funds i like LETRX, TMRFX, or an etf RSX. Back to currency I have a client who thinks the vietnam "dong" (thats really what they call their money) is very undervalued and the govt is more stable than iraq. I don`t believe him.

[swing lo]

I hear your points but this is not the first time the Iraq has changed their dinar. When the do a change like that you have the option to turn the money in for the new currency.

It's a very simple process and that's exactly what happened to the last dinar when they changed it.

I mean come on guys, if that were the case then every local person in Iraq would be SOL if they did a currency change. They only change the currency in a superficial manner and nothing more.

[gogotren]

Originally Posted by swing lo

I hear your points but this is not the first time the Iraq has changed their dinar. When the do a change like that you have the option to turn the money in for the new currency.

It's a very simple process and that's exactly what happened to the last dinar when they changed it.

I mean come on guys, if that were the case then every local person in Iraq would be SOL if they did a currency change. They only change the currency in a superficial manner and nothing more.

very true but I`m assuming that most people on this board are NOT in Iraq, is there liquidity for the currency at a local bank say here in USA if the currency is changed? Would a bank here have access to the new currency? I don`t know the answer to this. I personally think that place will be a shit hole for a LONG time to come and don`t see the currency doing much until there is a stable govt there that will fully exploit there oil reserves.

[swing lo]

Yes,

The liquidity is 1/1 and there are certain banks scattered worldwide that keep Iraqi Dinar on hand.

You can turn your dinar in at select banks in the states but you will only get back what the Dinar is worth currently and that is low becuase it' not on the world market as we know.

Yes indeed Iraq is a shit hole but it's crazy because in Kurdistan (northern Iraq)
The Kurds are very metropolitan. Just google Kurdistan, Iraq and check out the pics.

Kurdistan is actually in the country of Iraq but the KURDS have their own language and culture vs the actual Iraqi people.

But yes Iraq will be a shit hole for years to come and I never did expect to see the Dinar hit anytime soon. It's crazy when you watch all these guys over here buy ten's of millions of Dinar expecting to get rich over night.

Yes it's true that you never know what could happen but this Dinar will not hit anytime soon IMO.

I cannot confirm or deny that the US is drilling Iraq's OIL as we speak but you see my point. I can't recall if I've " seen it with my own eyes" or not but that's just some food for though for the folks that like to believe everything that's on the news.

I believe that it's going to take longer than Kuwait for iraq's Dinar to hit.

[oracle]

i know ive dug up a lot of it when it was boiling hot outside



my honest opinion is dont waste your money and time. im no financial advisor, but from what ive seen. that place is going to move a slugs pace for about the next 50 years.

[mrsoul]

Originally Posted by MrWannabe

A friend of mine has been advising me to invest in the Iraqi Dinar. He speculates that it will be a great investment what with the American funding into Iraq's infrstucture and looking back historically to what happened with the Kuwait Dinar with the Gulf war? Any insights and opinions welcome...peace.

investing in a government that has no stable government and has been at war for years and will probably stay at war does not seem wise to me.