I just had someone tell me all about this supposed "revaluation" of the Iraqi Dinar.. They said that it was going to be similar to the Kuwati dinars RV and that people would be making "millions" if they invested in the Iraqi Dinar. I'm sorry, and maybe I'm just ignorant, but this makes no sense to me. Has anyone heard anything about this crap?

Seems like some kind of a major scam where the brokers for these Dinars will be making the "millions" and the people that have been talked into buying this currency will be left to take the losses or possibly break even.

Anyone?

 

I have heard these stories for the past 6 years. Still the Iraqi dinar is worth about .002 cents or some **** like that. This place will not re-evaluate until they have things under control here. However, this country is sitting on an estimated 3 trillion dollars worth of crude reserves

I opened an Iraqi bank account and put 1000 bucks in it and if it does happen I will just yank my money out and call it a awesome payday. I think I am pissing in the wind if I expect any sort of return from that 1000 bucks.

 

That's kind of how I felt about it too....

 

I would not invest my money in a region that should be turned to glass.

 

I agree, but the numbers that people are pulling out of their asses make it a little hard to ignore. The problem is that no one has any proof of what actually happened with the kuwaiti dinar when it was re-valued. I'm asking more so for some of my family because they have already put money into this crap and I just wanted to find out if any of you guys had heard anything about it.

 

Ah, from what I've heard it's an extremely risky investment similar to throwing money at penny stocks. Most likely, nothing is going to come of it. I won't say that it can't happen, just that I'd more likely win the lottery than gain any substantial return from the iraqi dinars.

Background: Graduating senior in Finance currently looking for a Financial Analyst position.

 

Gold and silver dudes.

 

That has been working and may still for a while but if the government does cut it's deficit (unlikely but they said they would) over the next few years and they can really cut 4 trillion dollars of debt over the next 10 years (again unlikely but they said they would) the price of gold and silver will go down.

If the deficit does decrease and gold and silver continue to rise in price because of demand you could theoretically run into a housing bubble type burst where prices suddenly drop.

As long as inflation continues rapidly gold and silver are good choices but if inflation slows down they will lose value. Think of them as inflation/ressession insurance

look at the ressession in 1980 gold was worth more then in todays dollar (around $2100 if I remember right) than it is now.

 

Thanks guys, you've pretty much confirmed my suspicions about this deal.

 

I should clarify I'm in no way saying not to buy gold or silver right now it's a great investment but if you do get in and the global situation stabilizes for the love of god get the hell out

 

Keep your wealth in real money, especially not the us dollar. It will never be saved. Gold and silver is a world market.

 

True but it is still just a rock and like any other commodity it's value can rise and fall.

It's on an upswing right now but in 1999 it was at it's lowest value after it peaked in 1980.


Don't pretend that america has never been in a tight spot before. The conditions are different but I don't see the whole economy completely tanking. Stuff like this has happened before and if we recover again (like we have in the past) it will probably happen again. We might not be a super power next time (if we even are anymore) but the're are plenty of nations that aren't super powers that do just fine. We just need to get our own affairs in order.


I do agree that the current faith based monitary policy is fundamentally flawed and that we need to get back on the gold standard that Nixon screwed up in the 70s

 

SUPER I fail

 

Well like I said I believe the us dollar wont be saved.


You need to diversify your portfolio, *****.

 

Oh I've got silver and gold (mostly silver) among other things

But if recovery happens I'm out