The Iraqi Dinar Scam
Are you thinking of investing in the New Iraqi Dinar? Make sure you know all the facts. This article covers the scams associated with the Dinar, and a comparison of the prices of online sellers.
All the facts and the best prices on the Net
This article will expose the tricks and scams used by the New Iraqi Dinar Dealers. If, by the end, you still wish to purchase Dinars, this article will compare all the prices being offered today, and the best way to buy Dinar.
This eBook will expose the tricks and scams used by the New Iraqi Dinar Dealers. If, by the end, you still wish to purchase Dinars, this eBook will compare all the prices being offered today, and the best way to buy Dinar.
The New Iraqi dinar is being proclaimed as the investment opportunity of a lifetime. There are dealers all over the internet selling New Iraqi Dinar by the million. The theory behind buying the dinar is quite simple. At the present time, 1.00 USD (US Dollars) will buy you 1,475 IQD (Iraqi Dinars). During the reign of Saddam Hussein, 1.00 USD would buy you 0.33 IQD.
So…..
If you bought 1 million New Iraqi Dinars at the current exchange rate (costing you $677), and then waited for the dinar to climb back to the Saddam exchange rate, your million dinars would now be worth 3 million US dollars. You would have turned 677 US Dollars into 3 Million US dollars.
Sounds like a great deal doesn’t it!
Then why does the Utah Division of Securities, list the selling of the New Iraqi Dinar as number two in their list of the Ten Most Common Scams?
The reason is that the Dealers of New Iraqi Dinars do not tell you all the facts. Listed below are al the important facts you need to know about the New Iraqi Dinar.
Saddam’s Exchange Rate
One of the most commonly quoted facts on Dealer’s websites is that the exchange rate under Saddam Hussein was one Iraqi Dinar for three US dollars. That is true, as far as it goes, but here is the catch. Saddam Hussein himself personally set that exchange rate. He could have said, “One Iraqi Dinar buys 20 US dollars”, if he had wanted to. Just because that was the official exchange rate, doesn’t mean that is what people were actually trading it for. The old Iraqi Dinar could not be freely traded on the world market, so this exchange rate was essentially meaningless. This rate was only open to those who were close to Saddam.
The most important fact to take out of this section: The Iraqi Dinar NEVER actually traded 1 Dinar for three US dollars in reality.
Trading your Dinar
The New Iraqi Dinar is available to buy from a myriad of dealers. But what can you do with it once you have bought it? Nobody actually wants New Iraqi Dinar because it cannot be freely traded on the world market. To put it simply, a bank won’t accept dinar, and you can’t trade it back for US dollars (or whatever currency you are using) anywhere except physically in Iraq. And if you actually went to Iraq, they would give you 1 US dollar for every 1475 New Iraqi dinars you gave them. That means that if you buy the dinar you are probably going to be stuck with it. There are a few dealers who offer to buy back dinar that you have bought from them, but they will not want your dinars from elsewhere.
The most important fact to take out of this section: Once you have bought your Iraqi Dinar you are going to have it for a while
Make sure it’s NEW Iraqi Dinar
There is a difference between the Old Iraqi Dinar and the New Iraqi Dinar. The Old Iraqi Dinar is no longer legal currency. It is worth only what a collector will pay for it, which is even less than the New Iraqi Dinar. Any dinar with a picture of Saddam on it is an Old Iraqi Dinar. Do not let yourself be scammed into buying Old Iraqi Dinars. Make sure you see a picture of the dinars you are buying, and that the dinars they show you, match the pictures that I have below.
The most important fact to take out of this section: Do not buy Old Iraqi Dinars
50 Iraqi Dinar
250 Iraqi Dinar
1,000 Iraqi Dinar
5,000 Iraqi Dinar
10,000 Iraqi Dinar
25,000 Iraqi Dinar
If the dinar you are looking at don’t look like this, then do not buy them.
Look at the Denominations
The largest US banknote in current circulation is $100. The same goes for the Australian dollar. There are not many first world countries that have a $25,000 note. The lowest note denomination that exists in Iraq is the 50 Dinar note. Therefore, if the exchange rate ever returned to the Saddam rate, there would be an Iraqi Dinar note that was worth $75,000 US Dollars. The lowest note denomination would be worth $150 US. To speak plainly, that is extremely unlikely. About on a par with Osama bin Laden turning himself over to the US Government.
The most important fact to take out of this section: Any currency that contains a 25,000 dinar note, is never going to trade 1 for 1 with the US Dollar, let alone 3 for 1.
Don’t be taken in by the Oil
Yes, Iraq has a lot of oil. Oil is always in high demand. Yet still all the experts advise against buying Iraqi Dinar. Why?
This is very important. When you buy the currency of a country, you are investing in the entire economy of that country. Therefore, if you buy Iraqi Dinars, you are investing in the economy of Iraq. You are NOT investing in Iraq’s oil. Any economy that is based primarily around the sale of oil is unstable by definition. An example of this is the current situation in Venezuela. Venezuela is one of the world’s top 5 oil producers. Oil provides fully half of the government’s revenue. Due to political and economic factors, the Venezuelan Bolivar, the currency of this oil-rich country, is now worth only a third of what it was worth in US dollars, in the year 2000. It is only worth a quarter of what it was in Euros, also in the year 2000.
The most important fact to take out of this section: Buying New Iraqi Dinars is NOT the same as investing in Iraq’s oil.
The Kuwait Dinar Comparison
Dealers love to point to the Kuwaiti Dinar when promoting their product. During the Gulf War, and immediately after it, the value of the Kuwaiti Dinar plummeted to a low of $0.10 US. Today, the Kuwaiti Dinar trades for approximately $3.45 US. That means if you invested $100 US into Kuwaiti currency at it’s lowest, and traded back into US dollars today, you would have turned your $100 US into $3,500 US. If it happened in Kuwait, then surely it will happen in Iraq, right? Wrong. The situation in Kuwait was entirely different. Kuwait had a strong government. Iraq did not. Kuwait made its greatest amount of money through foreign investments. Iraq made its greatest money through oil, followed by the selling of dates. After the Gulf War, Kuwait was a country that was always going to recover strongly. Iraq’s future is far more questionable.
Why sell dinars?
Ask yourself this question. If you thought that Iraqi Dinars were about to explode in value, would you sell them? Of course not. You would grab all your money, and buy as many dinars as you could, then sit back and wait for the money to roll in. Almost no dealer is willing to buy. Ask yourself why that is.
The Dealers
Below are listed every dealer of New Iraqi Dinars that I could find on the internet, as of 3rd September, 2006. Some of these dealers may no longer exist, as this business is by its very nature fairly transitory. I am in no way associated with any of these companies, and I make no claim as to their trustworthiness. I DO NOT endorse the buying of Iraqi Dinars and I do not know if you will get your dinars after you pay. This is only a comparative list of prices and services. I can vouch for the trustworthiness of only five dealers, that I have bought Dinars from, and have had them arrive as described. I will name those five dealers later on. All prices will be given in US dollars.
New Iraqi Currency
http://www.newiraqcurrency.com/
This website is one of the bigger dealers of Iraqi dinars and is one of the first names to pop up after a Google search. This site deals dinars in any denomination of your choice from 50-25000 dinar notes, in any amount you might choose. The prices range depending on which notes you want. This dealer uses US dollars. The abbreviation NID stands for New Iraqi Dinar.
50 Notes – 50 × 100pcs (5,000 NID) = $30 US
50 × 1,000pcs (50,000 NID) = $190 US
250 Notes – 250 × 100pcs (25,000 NID) = $55 US
250 × 1,000pcs (250,000 NID) = $355 US
500 Notes – 500 × 100pcs (50,000 NID) = $90 US
500 × 1,000pcs (500,000 NID) = $605 US
1,000 Notes – 1,000 × 100pcs (100,000 NID) = $150 US
1,000 × 500pcs (500,000 NID) = $590 US
1,000 × 1,000pcs (1,000,000 NID) = $1,100 US
5,000 Notes – 5,000 × 25pcs (125,000 NID) = $160 US
5,000 × 50pcs (250,000 NID) = $280 US
5,000 × 100pcs (500,000 NID) = $485 US
5,000 × 200pcs (1,000,000 NID) = $965 US
5,000 × 400pcs (2,000,000 NID) = $1,925 US
10,000 Notes – 10,000 × 25pcs (250,000 NID) = $275 US
10,000 × 50pcs (500,000 NID) = $485 US
10,000 × 100pcs (1,000,000 NID) = $955 US
10,000 × 200pcs (2,000,000 NID) = $1,905 US
10,000 × 300pcs (3,000,000 NID) = $2,830 US
25,000 Notes – 25,000 × 5pcs (125,000 NID) = $160 US
25,000 × 10pcs (250,000 NID) = $275 US
25,000 × 20pcs (500,000 NID) = $480 US
25,000 × 40pcs (1,000,000 NID) = $950 US
25,000 × 60pcs (1,500,000 NID) = $1,425 US
25,000 × 80pcs (2,000,000 NID) = $1,895 US
25,000 × 100pcs (2,500,000 NID) = $2,355 US
25,000 × 120pcs (3,000,000 NID) = $2,830 US
The website also offers New Iraqi Dinar Currency Sets. These sets contain one of every note denomination from 50 – 25,000 dinars.
Currency Set – 1 × Currency Set (41,800 NID) = $75 US
10 × Currency Sets (418,000 NID) = $565 US
Iraq Paper Money
This website sells Iraqi dinars individually and also in packs. The individual notes are really only useful to the collector, as to buy a meaningful amount for investment buying multiple orders of single notes would be an expensive investment. The variety of different packs is rather limited, but for those who do not care what denominations they get, that is irrelevant. BEWARE, this site also sells OLD Iraqi Dinars. Make sure you are buying New Iraqi Dinars.
The following are the prices for one note of the different denominations that are available.
50 Dinar Note = $1.99 US
250 Dinar Note = $4.99 US
1,000 Dinar Note = $5.99 US
5,000 Dinar Note = $7.99 US
10,000 Dinar Note = $12.99 US
25,000 Dinar Note = $27.99 US
The packs that are available from this website are as follows.
250 Notes – 250 × 1,000pcs (250,000 NID) = $299.95 US
1,000 Notes – 1,000 × 1,000pcs (1,000,000 NID) = $1024.95 US
5,000 Notes – 5,000 × 200pcs (1,000,000 NID) = $949.95 US
10,000 Notes – 10,000 × 100pcs (1,000,000 NID) = $939.95 US
25,000 Notes – 25,000 × 40pcs (1,000,000 NID) = $939.95 US
Why Buy Dinar
Be very careful with this site. Be aware that the majority of claims made by this site are fraudulent. Also, if you live outside the US, you can not buy dinars with your credit card. The site does not offer Paypal, Stormpay, Bidpay or COD (Collect on Delivery). For buyers wishing to buy dinars with their credit cards, who live outside the US, shop elsewhere.
1,000 Notes – 1,000 × 1pcs (1,000 NID) = $4.75 US
1,000 × 10pcs (10,000 NID) = $36 US
1,000 × 40pcs (40,000 NID) = $70.80 US
1,000 × 100pcs (100,000 NID) = $170 US
1,000 × 200pcs (200,000 NID) = $328 US
1,000 × 1,000pcs (1,000,000 NID) = $1045 US
5,000 Notes – 5,000 × 1pcs (5,000 NID) = $10.30 US
5,000 × 10pcs (50,000 NID) = $93 US
5,000 × 40pcs (200,000 NID) = $256 US
5,000 × 100pcs (500,000 NID) = $580 US
5,000 × 200pcs (1,000,000 NID) = $975 US
5,000 × 1,000pcs (5,000,000 NID) = $4,775 US
10,000 Notes – 10,000 × 1pcs (10,000 NID) = $20.30 US
10,000 × 10pcs (100,000 NID) = $180 US
10,000 × 40pcs (400,000 NID) = $480 US
10,000 × 100pcs (1,000,000 NID) = $925 US
10,000 × 200pcs (2,000,000 NID) = $1,840 US
10,000 × 1,000pcs (10,000,000 NID) = $9,050 US
25,000 Notes – 25,000 × 1pcs (25,000 NID) = $31.45 US
25,000 × 10pcs (250,000 NID) = $296 US
25,000 × 40pcs (1,000,000 NID) = $895 US
25,000 × 100pcs (2,500,000 NID) = $2,225 US
25,000 × 200pcs (5,000,000 NID) = $4,350 US
25,000 × 1,000pcs (25,000,000 NID) = $21,500 US
eDinar Financial
http://www.edinarfinancial.net/
This site does not offer a choice of different denominations on their website. Also, if you wish to buy with your credit card, you will have to ring the company, rather than simply ordering online.
150,000 Iraqi Dinar = $168 US
250,000 Iraqi Dinar = $225 US
500,000 Iraqi Dinar = $425 US
1,000,000 Iraqi Dinar = $775 US
1,500,000 Iraqi Dinar = $1,195 US
2,000,000 Iraqi Dinar = $1,590 US
2,500,000 Iraqi Dinar = $1,990 US
3,000,000 Iraqi Dinar = $2,385 US
4,000,000 Iraqi Dinar = $3,180 US
5,000,000 Iraqi Dinar = $3,985 US
7,000,000 Iraqi Dinar = $5,590 US
7,500,000 Iraqi Dinar = $5,995 US
10,000,000 Iraqi Dinar = $7,995 US
New Iraqi Dinar
This website does not offer different denominations. They only deal in the 25,000 note denomination.
100,000 Iraqi Dinar = $120 US
250,000 Iraqi Dinar = $220 US
500,000 Iraqi Dinar = $420 US
1,000,000 Iraqi Dinar = $760 US
1,500,000 Iraqi Dinar = $1,130 US
2,000,000 Iraqi Dinar = $1,500 US
2,500,000 Iraqi Dinar = $1,870 US
3,000,000 Iraqi Dinar = $2,240 US
3,500,000 Iraqi Dinar = $2,610 US
4,000,000 Iraqi Dinar = $2,980 US
5,000,000 Iraqi Dinar = $3,720 US
6,000,000 Iraqi Dinar = $4,460 US
7,000,000 Iraqi Dinar = $5,200 US
8,000,000 Iraqi Dinar = $5,940 US
9,000,000 Iraqi Dinar = $6,680 US
10,000,000 Iraqi Dinar = $7,420 US
Portal Iraq
http://www.portaliraq.com/iraq-dinar.php
This site is not exclusively a seller of New Iraqi Dinars. It is a website that deals primarily with business in general in Iraq. The link given above takes you directly to the dinar buying section of the website. Larger quantaties of all denominations are available, and prices will be quoted upon an email or phone call to the dealer.
50 Notes – 50 × 100pcs (5,000 NID) = $55 US
250 Notes – 250 × 100pcs (25,000 NID) = $105 US
500 Notes – 500 × 100pcs (50,000 NID) = $160 US
1,000 Notes – 1,000 × 100pcs (100,000 NID) = $200 US
5,000 Notes – 5,000 × 25pcs (125,000 NID) = $200 US
5,000 × 50pcs (250,000 NID) = $350 US
5,000 × 100pcs (500,000 NID) = $585 US
5,000 × 200pcs (1,000,000 NID) = $1,095 US
10,000 Notes – 10,000 × 25pcs (250,000 NID) = $350 US
10,000 × 50pcs (500,000 NID) = $585 US
10,000 × 100pcs (1,000,000 NID) = $1,095 US
25,000 Notes – 25,000 × 5pcs (125,000 NID) = $200 US
25,000 × 10pcs (250,000 NID) = $350 US
25,000 × 20pcs (500,000 NID) = $585 US
25,000 × 40pcs (1,000,000 NID) = $1,095 US
25,000 × 60pcs (1,500,000 NID) = $1,605 US
25,000 × 80pcs (2,000,000 NID) = $2,115 US
25,000 × 100pcs (2,250,000 NID) = $2,425 US
25,000 × 120pcs (2,500,000 NID) = $2,630 US
Deal or Buy Dinar
http://www.dealorbuydinar.com/index.html
This dealer has no information regarding denominations on his site which probably means he deals in 25,000 denomination notes because they are the cheapest and easiest to deal with. Also, this dealer charges extremely high shipping rates for buyers from outside the US or Canada. Even inside the US or Canada, shipping rates are high. Some dealers can charge less for their dinars than anywhere else by charging extremely high shipping rates. This dealer is not charging substantially less for his dinars than anywhere else (more than many). Do not get caught out. The dealer justifies his high rates buy claiming trustworthiness. I cannot vouch for that one way or the other.
25,000 Iraqi Dinar = $50 US
100,000 Iraqi Dinar = $110 US
250,000 Iraqi Dinar = $240 US
500,000 Iraqi Dinar = $470 US
1-5 Million Iraqi Dinar = $825 per million
6-10 Million Iraqi Dinar = $805 per million
SCGS
This site is an odd looking one, and is quite hard to navigate. It does not offer denominations for bulk purchase, but rather a number of different “packs” or individual notes. A buyer can only choose from the packs given. The denominations used in the packs are not given, which means they are probably 25,000 dinar notes. The only exception to this is the 41,800 Dinar pack which contains one of every note. The packs offered are shown below.
500 Dinar Note = $2.99 US
1,000 Dinar Note = $2.99 US
5,000 Dinar Note = $5.39 US
25,000 Dinar Note = $24.98 US
41,800 Dinar Pack = $64.97 US
125,000 Dinar Pack = $125.37 US
500,000 Dinar Pack = $467.51 US
1,000,000 Dinar Pack = $931.80 US
10,000,000 Dinar Pack = $9,112.10 US
20,000,000 Dinar Pack = $18,670 US
Bet On Iraq
This website offers free shipping to the US. However you can not buy with your credit card and shipping is not free outside the US. No denomination options are listed, and as the minimum to buy is 25,000 dinars, it is safe to assume that the website only offers the 25,000 dinar denomination. Like all dealer websites, there is a lot of propaganda on the likelihood of the dinar skyrocketing in value on this website. Take all the claims on the website with a grain of salt. The prices given are shown below, and you can get prices on larger amounts by emailing the dealer.
25,000 Iraqi Dinar = $45 US
50,000 Iraqi Dinar = $80 US
100,000 Iraqi Dinar = $155 US
250,000 Iraqi Dinar = $325 US
500,000 Iraqi Dinar = $595 US
750,000 Iraqi Dinar = $825 US
1,000,000 Iraqi Dinar = $1,060 US
2,000,000 Iraqi Dinar = $2,100 US
3,000,000 Iraqi Dinar = $3,135 US
4,000,000 Iraqi Dinar = $4,160 US
5,000,000 Iraqi Dinar = $5,175 US
First Dinar Financial Group
http://firstdinarfinancialgroup.com/
This website is another that only offers specific packs and individual notes and not the different denominations for bulk purchase. These packs are made up of the 25,000 dinar denomination unless listed as MIX. The MIX packs are made up of an unspecified mix of 1,000/5,000/10,000/25,000 dinar notes. Bizarrely, the same products are listed twice or more at different prices. For example, a dinar set containing one of every denomination is priced about $70 on one page and $110 on the next. As shown below, a 5,000 dinar note is selling for two different prices. This type of thing would make me very wary of dealing with this site. The packs offered are listed below.
500 Dinar Note = $3.99 US
1,000 Dinar Note = $4.99 US
5,000 Dinar Note = $8.95 US
= $7.40 US
10,000 Dinar Note = $12.88 US
25,000 Dinar Note = $24.98 US
= $25.00 US
25,000 Dinars (5 × 5,000pcs) = $74.99 US
41,800 Dinar (1 of each note) = $72.88 US
= $112 US
250,000 Dinars MIX = $324.88
500,000 Dinars = $497.88
500,000 Dinars MIX = $771
1,000,000 Dinars = $952
1,000,000 Dinars MIX = $1,096.66
5,000,000 Dinars = $4,650.88
10,000,000 Dinars = $9,100
Direct Dinar
http://www.directdinar.com/buydinar.htm
This site is somewhat slow to load, and if you approach it through the main page, almost impossible to use. Using the link provided though, should make it considerably easier to use. The webpage itself is good, showing all prices for all denominations on the one page, which is convenient. However the website does not offer the 50 or 250 dinar denominations.
500 Notes – 500 × 1pcs (500 NID) = $5.99 US
500 × 50pcs (25,000 NID) = $65.23 US
500 × 100pcs (50,000 NID) = $110.03 US
500 × 200pcs (100,000 NID) = $206.13 US
1,000 Notes – 1,000 × 1pcs (1,000 NID) = $7.14 US
1,000 × 25pcs (25,000 NID) = $59.23 US
1,000 × 50pcs (50,000 NID) = $105.03 US
1,000 × 100pcs (100,000 NID) = $181.13 US
5,000 Notes – 5,000 × 1pcs (5,000 NID) = $12.12 US
5,000 × 20pcs (100,000 NID) = $166.03 US
5,000 × 100pcs (500,000 NID) = $656.15 US
5,000 × 200pcs (1,000,000 NID) = $1140.15 US
10,000 Notes – 10,000 × 1pcs (10,000 NID) = $18.12 US
10,000 × 10pcs (100,000 NID) = $136.03 US
10,000 × 50pcs (500,000 NID) = $620.15 US
10,000 × 100pcs (1,000,000 NID) = $1070.10 US
25,000 Notes – 25,000 × 1pcs (25,000 NID) = $28.10 US
25,000 × 4pcs (100,000 NID) = $116.03 US
25,000 × 10pcs (250,000 NID) = $281.15 US
25,000 × 20pcs (500,000 NID) = $502.27 US
25,000 × 40pcs (1,000,000 NID) = $964.15 US
25,000 × 80pcs (2,000,000 NID) = $1909.03 US
25,000 × 120pcs (3,000,000 NID) = $2824.15 US
25,000 × 160pcs (4,000,000 NID) = $3758.15 US
25,000 × 200pcs (5,000,000 NID) = $4696.15 US
41,800 Dinar Set (One of each note) = $73.95 US
US Dinar
This site has a sneaky little clause in it’s FAQ. It basically says that if you order dinar from this site, and before they send you the dinar, it skyrockets in value, then they will charge you the new going rate for the dinar, or refund your money and send you nothing. So if the dinar does become hugely valuable BEFORE you receive your order, but AFTER you have paid, then you are going to get screwed. This site does not accept credit card and does not deal in the 50, 250, or 500 dinar denominations. It is only really for the buyer wishing to buy a LOT of dinars. Also, for some reason the price of 4 million and 4.5 million in 1000’s are the same. It may be a mistake on the website or a discount for spending so much.
1,000 Notes – 1,000 × 500pcs (500,000 NID) = $500 US
1,000 × 1,000pcs (1,000,000 NID) = $950 US
1,000 × 1,500pcs (1,500,000 NID) = $1,425 US
1,000 × 2,000pcs (2,000,000 NID) = $1,900 US
1,000 × 2,500pcs (2,500,000 NID) = $2,375 US
1,000 × 3,000pcs (3,000,000 NID) = $2,850 US
1,000 × 3,500pcs (3,500,000 NID) = $3,325 US
1,000 × 4,000pcs (4,000,000 NID) = $3,800 US
1,000 × 4,500pcs (4,500,000 NID) = $3,800 US
1,000 × 5,000pcs (5,000,000 NID) = $4,750 US
5,000 Notes – 5,000 × 100pcs (500,000 NID) = $450 US
5,000 × 200pcs (1,000,000 NID) = $820 US
5,000 × 300pcs (1,500,000 NID) = $1,230 US
5,000 × 400pcs (2,000,000 NID) = $1,640 US
5,000 × 500pcs (2,500,000 NID) = $2,050 US
5,000 × 600pcs (3,000,000 NID) = $2,460 US
5,000 × 700pcs (3,500,000 NID) = $2,870 US
5,000 × 800pcs (4,000,000 NID) = $3,280 US
5,000 × 900pcs (4,500,000 NID) = $3,690 US
5,000 × 1,000pcs (5,000,000 NID) = $4,100 US
10,000 Notes – 10,000 × 50pcs (500,000 NID) = $420 US
10,000 × 100pcs (1,000,000 NID) = $800 US
10,000 × 150pcs (1,500,000 NID) = $1,200 US
10,000 × 200pcs (2,000,000 NID) = $1,600 US
10,000 × 250pcs (2,500,000 NID) = $2,000 US
10,000 × 300pcs (3,000,000 NID) = $2,400 US
10,000 × 350pcs (3,500,000 NID) = $2,800 US
10,000 × 400pcs (4,000,000 NID) = $3,200 US
10,000 × 450pcs (4,500,000 NID) = $3,600 US
10,000 × 500pcs (5,000,000 NID) = $4,000 US
25,000 Notes – 25,000 × 4pcs (100,000 NID) = $100 US
25,000 × 10pcs (250,000 NID) = $200 US
25,000 × 20pcs (500,000 NID) = $400 US
25,000 × 40pcs (1,000,000 NID) = $740 US
25,000 × 50pcs (1,250,000 NID) = $925 US
25,000 × 60pcs (1,500,000 NID) = $1,110 US
25,000 × 80pcs (2,000,000 NID) = $1,480 US
25,000 × 100pcs (2,500,000 NID) = $1,850 US
25,000 × 120pcs (3,000,000 NID) = $2,220 US
25,000 × 140pcs (3,500,000 NID) = $2,590 US
25,000 × 160pcs (4,000,000 NID) = $2,960 US
25,000 × 180pcs (4,500,000 NID) = $3,330 US
25,000 × 200pcs (5,000,000 NID) = $3,700 US
25,000 × 240pcs (6,000,000 NID) = $4,440 US
25,000 × 280pcs (7,000,000 NID) = $5,180 US
25,000 × 320pcs (8,000,000 NID) = $5,920 US
25,000 × 360pcs (9,000,000 NID) = $6,660 US
25,000 × 400pcs (10,000,000 NID) = $7,400 US
25,000 × 600pcs (15,000,000 NID) = $11,100 US
25,000 × 800pcs (20,000,000 NID) = $14,800 US
25,000 × 2000pcs (50,000,000 NID) = $37,000 US
25,000 × 4000pcs (100,000,000 NID) = $74,000 US
Safe Dinar
http://www.safedinar.com/buy_dinar.asp
The Safe Dinar page is easy to use, and well designed. Once again, a site only for serious buyers. The minimum to buy is 250,000 dinars. The site does not deal in 50, 250 or 500 dinar denominations. Upon publication of this eBook, both the 1,000 and 5,000 dinar denominations were out of stock. The 25,000 dinar denominations become less expensive per 250,000 the more you buy. It begins costing $840 per million and costs $775 per million if you buy enough. For larger amounts of the given dinars, you can email the dealer.
1,000 Notes – 1,000 × 250pcs (250,000 NID) = $240 US
1,000 × 500pcs (500,000 NID) = $480 US
1,000 × 750pcs (750,000 NID) = $720 US
1,000 × 1,000pcs (1,000,000 NID) = $960 US
1,000 × 1,250pcs (1,250,000 NID) = $1,200 US
1,000 × 1,500pcs (1,500,000 NID) = $1,440 US
1,000 × 1,750pcs (1,750,000 NID) = $1,680 US
1,000 × 2,000pcs (2,000,000 NID) = $1,920 US
1,000 × 2,250pcs (2,250,000 NID) = $2,160 US
1,000 × 2,500pcs (2,500,000 NID) = $2,400 US
1,000 × 2,750pcs (2,750,000 NID) = $2,640 US
1,000 × 3,000pcs (3,000,000 NID) = $2,880 US
1,000 × 3,250pcs (3,250,000 NID) = $3,120 US
1,000 × 3,500pcs (3,500,000 NID) = $3,360 US
1,000 × 3,750pcs (3,750,000 NID) = $3,600 US
1,000 × 4,000pcs (4,000,000 NID) = $3,840 US
1,000 × 4,250pcs (4,250,000 NID) = $4,080 US
1,000 × 4,500pcs (4,500,000 NID) = $4,320 US
1,000 × 4,750pcs (4,750,000 NID) = $4,560 US
1,000 × 5,000pcs (5,000,000 NID) = $4,800 US
1,000 × 5,250pcs (5,250,000 NID) = $5,040 US
1,000 × 5,500pcs (5,500,000 NID) = $5,280 US
1,000 × 5,750pcs (5,750,000 NID) = $5,520 US
1,000 × 6,000pcs (6,000,000 NID) = $5,760 US
1,000 × 6,250pcs (6,250,000 NID) = $6,000 US
1,000 × 6,500pcs (6,500,000 NID) = $6,240 US
1,000 × 6,750pcs (6,750,000 NID) = $6,480 US
1,000 × 7,000pcs (7,000,000 NID) = $6,720 US
1,000 × 7,250pcs (7,250,000 NID) = $6,960 US
1,000 × 7,500pcs (7,500,000 NID) = $7,200 US
1,000 × 7,750pcs (7,750,000 NID) = $7,440 US
1,000 × 8,000pcs (8,000,000 NID) = $7,680 US
1,000 × 8,250pcs (8,250,000 NID) = $7,920 US
1,000 × 8,500pcs (8,500,000 NID) = $8,160 US
1,000 × 8,750pcs (8,750,000 NID) = $8,400 US
1,000 × 9,000pcs (9,000,000 NID) = $8,640 US
1,000 × 9,250pcs (9,250,000 NID) = $8,880 US
1,000 × 9,500pcs (9,500,000 NID) = $9,120 US
1,000 × 9,750pcs (9,750,000 NID) = $9,360 US
1,000 × 10,000pcs (10,000,000 NID) = $9,600 US
5,000 Notes – 5,000 × 50pcs (250,000 NID) = $219 US
5,000 × 100pcs (500,000 NID) = $438 US
5,000 × 150pcs (750,000 NID) = $656 US
5,000 × 200pcs (1,000,000 NID) = $875 US
5,000 × 250pcs (1,250,000 NID) = $1,094 US
5,000 × 300pcs (1,500,000 NID) = $1,313 US
5,000 × 350pcs (1,750,000 NID) = $1,531 US
5,000 × 400pcs (2,000,000 NID) = $1,750 US
5,000 × 450pcs (2,250,000 NID) = $1,969 US
5,000 × 500pcs (2,500,000 NID) = $2,188 US
5,000 × 550pcs (2,750,000 NID) = $2,406 US
5,000 × 600pcs (3,000,000 NID) = $2,625 US
5,000 × 650pcs (3,250,000 NID) = $2,844 US
5,000 × 700pcs (3,500,000 NID) = $3,063 US
5,000 × 750pcs (3,750,000 NID) = $3,281 US
5,000 × 800pcs (4,000,000 NID) = $3,500 US
5,000 × 850pcs (4,250,000 NID) = $3,719 US
5,000 × 900pcs (4,500,000 NID) = $3,938 US
5,000 × 950pcs (4,750,000 NID) = $4,156 US
5,000 × 1,000pcs (5,000,000 NID) = $4,375 US
5,000 × 1,050pcs (5,250,000 NID) = $4,594 US
5,000 × 1,100pcs (5,500,000 NID) = $4,813 US
5,000 × 1,150pcs (5,750,000 NID) = $5,031 US
5,000 × 1,200pcs (6,000,000 NID) = $5,250 US
5,000 × 1,250pcs (6,250,000 NID) = $5,469 US
5,000 × 1,300pcs (6,500,000 NID) = $5,688 US
5,000 × 1,350pcs (6,750,000 NID) = $5,906 US
5,000 × 1,400pcs (7,000,000 NID) = $6,125 US
5,000 × 1,450pcs (7,250,000 NID) = $6,344 US
5,000 × 1,500pcs (7,500,000 NID) = $6,563 US
5,000 × 1,550pcs (7,750,000 NID) = $6,781 US
5,000 × 1,600pcs (8,000,000 NID) = $7,000 US
5,000 × 1,650pcs (8,250,000 NID) = $7,219 US
5,000 × 1,700pcs (8,500,000 NID) = $7,438 US
5,000 × 1,750pcs (8,750,000 NID) = $7,656 US
5,000 × 1,800pcs (9,000,000 NID) = $7,875 US
5,000 × 1,850pcs (9,250,000 NID) = $8,094 US
5,000 × 1,900pcs (9,500,000 NID) = $8,313 US
5,000 × 1,950pcs (9,750,000 NID) = $8,531 US
5,000 × 2,000pcs (10,000,000 NID) = $8,750 US
10,000 Notes – 10,000 × 25pcs (250,000 NID) = $213 US
10,000 × 50pcs (500,000 NID) = $425 US
10,000 × 75pcs (750,000 NID) = $638 US
10,000 × 100pcs (1,000,000 NID) = $850 US
10,000 × 125pcs (1,250,000 NID) = $1,063 US
10,000 × 150pcs (1,500,000 NID) = $1,275 US
10,000 × 175pcs (1,750,000 NID) = $1,488 US
10,000 × 200pcs (2,000,000 NID) = $1,700 US
10,000 × 225pcs (2,250,000 NID) = $1,913 US
10,000 × 250pcs (2,500,000 NID) = $2,125 US
10,000 × 275pcs (2,750,000 NID) = $2,338 US
10,000 × 300pcs (3,000,000 NID) = $2,550 US
10,000 × 325pcs (3,250,000 NID) = $2,763 US
10,000 × 350pcs (3,500,000 NID) = $2,975 US
10,000 × 375pcs (3,750,000 NID) = $3,188 US
10,000 × 400pcs (4,000,000 NID) = $3,400 US
10,000 × 425pcs (4,250,000 NID) = $3,613 US
10,000 × 450pcs (4,500,000 NID) = $3,825 US
10,000 × 475pcs (4,750,000 NID) = $4,038 US
10,000 × 500pcs (5,000,000 NID) = $4,250 US
10,000 × 525pcs (5,250,000 NID) = $4,463 US
10,000 × 550pcs (5,500,000 NID) = $4,675 US
10,000 × 575pcs (5,750,000 NID) = $4,888 US
10,000 × 600pcs (6,000,000 NID) = $5,100 US
10,000 × 625pcs (6,250,000 NID) = $5,313 US
10,000 × 650pcs (6,500,000 NID) = $5,525 US
10,000 × 675pcs (6,750,000 NID) = $5,738 US
10,000 × 700pcs (7,000,000 NID) = $5,950 US
10,000 × 725pcs (7,250,000 NID) = $6,163 US
10,000 × 750pcs (7,500,000 NID) = $6,375 US
10,000 × 775pcs (7,750,000 NID) = $6,588 US
10,000 × 800pcs (8,000,000 NID) = $6,800 US
10,000 × 825pcs (8,250,000 NID) = $7,013 US
10,000 × 850pcs (8,500,000 NID) = $7,225 US
10,000 × 875pcs (8,750,000 NID) = $7,438 US
10,000 × 900pcs (9,000,000 NID) = $7,650 US
10,000 × 925pcs (9,250,000 NID) = $7,863 US
10,000 × 950pcs (9,500,000 NID) = $8,075 US
10,000 × 975pcs (9,750,000 NID) = $8,288 US
10,000 × 1,000pcs (10,000,000 NID) = $8,500 US
25,000 Notes – 25,000 × 10pcs (250,000 NID) = $210 US
25,000 × 20pcs (500,000 NID) = $420 US
25,000 × 30pcs (750,000 NID) = $630 US
25,000 × 40pcs (1,000,000 NID) = $800 US
25,000 × 50pcs (1,250,000 NID) = $1000 US
25,000 × 60pcs (1,500,000 NID) = $1200 US
25,000 × 70pcs (1,750,000 NID) = $1400 US
25,000 × 80pcs (2,000,000 NID) = $1600 US
25,000 × 90pcs (2,250,000 NID) = $1800 US
25,000 × 100pcs (2,500,000 NID) = $2000 US
25,000 × 110pcs (2,750,000 NID) = $2200 US
25,000 × 120pcs (3,000,000 NID) = $2400 US
25,000 × 130pcs (3,250,000 NID) = $2600 US
25,000 × 140pcs (3,500,000 NID) = $2800 US
25,000 × 150pcs (3,750,000 NID) = $3000 US
25,000 × 160pcs (4,000,000 NID) = $3200 US
25,000 × 170pcs (4,250,000 NID) = $3400 US
25,000 × 180pcs (4,500,000 NID) = $3600 US
25,000 × 190pcs (4,750,000 NID) = $3800 US
25,000 × 200pcs (5,000,000 NID) = $3925 US
25,000 × 210pcs (5,250,000 NID) = $4121 US
25,000 × 220pcs (5,500,000 NID) = $4318 US
25,000 × 230pcs (5,750,000 NID) = $4514 US
25,000 × 240pcs (6,000,000 NID) = $4710 US
25,000 × 250pcs (6,250,000 NID) = $4906 US
25,000 × 260pcs (6,500,000 NID) = $5103 US
25,000 × 270pcs (6,750,000 NID) = $5299 US
25,000 × 280pcs (7,000,000 NID) = $5495 US
25,000 × 290pcs (7,250,000 NID) = $5691 US
25,000 × 300pcs (7,500,000 NID) = $5888 US
25,000 × 310pcs (7,750,000 NID) = $6084 US
25,000 × 320pcs (8,000,000 NID) = $6280 US
25,000 × 330pcs (8,250,000 NID) = $6476 US
25,000 × 340pcs (8,500,000 NID) = $6673 US
25,000 × 350pcs (8,750,000 NID) = $6869 US
25,000 × 360pcs (9,000,000 NID) = $7065 US
25,000 × 370pcs (9,250,000 NID) = $7261 US
25,000 × 380pcs (9,500,000 NID) = $7458 US
25,000 × 390pcs (9,750,000 NID) = $7654 US
25,000 × 400pcs (10,000,000 NID) = $7750 US
Dinar Profits
This website is a small operation, which only deals in 25,000 dinar denominations. It has six different packs you can buy the dinar in, and all are made up of 25,000 dinar denominations.
25,000 Iraqi Dinar = $49 US
125,000 Iraqi Dinar = $249 US
250,000 Iraqi Dinar = $399 US
500,000 Iraqi Dinar = $659 US
1,000,000 Iraqi Dinar = $1,199 US
5,000,000 Iraqi Dinar = $5,499 US
Iraqi Dinars Trading Company
http://www.iraqidinars.com/oldsaddamdinarprices/newiraqdinars.html
This company is one of the few that is buying dinars. They will buy dinars even if they are not the ones who sold those dinars to you. I very much doubt you would get anywhere near what you paid for them if you did decide to sell, but the website claims you will. Unfortunately, trust is once again an issue. The company demands you send them your dinars, so that they can check them. Only AFTER they have received your dinars will they pay you. If you decide it is worth the risk then this is one of the only websites that will buy. As for the selling side, this site sells dinars individually and in bundles of 100. There are also special packs available.
50 Dinar Note = $0.60
250 Dinar Note = $0.96
500 Dinar Note = $1.56
1,000 Dinar Note = $1.90
5,000 Dinar Note = $8.80
10,000 Dinar Note = $12.99
25,000 Dinar Note = $29.99
50 Dinar – 100 Note Bundle – (5,000 NID) = $29.95
250 Dinar – 100 Note Bundle – (25,000 NID) = $54.95
500 Dinar – 100 Note Bundle – (50,000 NID) = $74.95
1,000 Dinar – 100 Note Bundle – (100,000 NID) = $139.95
5,000 Dinar – 100 Note Bundle – (500,000 NID) = $580
10,000 Dinar – 100 Note Bundle – (1,000,000 NID) = $979
25,000 Dinar – 100 Note Bundle – (2,500,000 NID) = $2,372
Dinar 6 Pack – 6 Different Notes – (41,300 NID) = $56.99
Dinar 7 Pack – All 7 Notes – (41,800 NID) = $58.99
25,000 Dinar – 4 Note Pack – (100,000 NID) = $119.99
10,000 Dinar – 10 Note Pack – (100,000 NID) = $124.99
ME Banknotes
http://www.mebanknotes.com/iraqidinar/iraqidinar.html
This website is a dealer of all banknotes, not specifically Iraqi Dinars. It also offers Iraqi Dinars for sale in the section of the website the link above will take you to. The website sells individual notes and packs.
500 Dinar Note = $1.50
5,000 Dinar Note = $5
10,000 Dinar Note = $10
25,000 Dinar Note = $25
3 Low Dinar Notes (50, 250 and 1,000) = $2
All 7 Note Pack – (41,800 NID) = $41
25,000 Note Packs – (100,000 NID) = $97
(250,000 NID) = $220
(500,000 NID) = $430
(1,000,000 NID) = $850
Best Deals on the Internet
Please remember, I cannot vouch for how trustworthy these dealers are, only for their prices. The following are the cheapest internet dealers.
The cheapest for Twenty Five Thousand Dinars:
It was an exact tie.
SCGS – $24.98
First Dinar Financial Group – $24.98
http://firstdinarfinancialgroup.com/
The cheapest for Fifty Thousand Dinars:
This one was another exact tie. To get the listed price, simply order two 25,000 dinar notes.
SCGS – $49.96
First Dinar Financial Group – $49.96
http://firstdinarfinancialgroup.com/
The cheapest for One Hundred Thousand Dinars:
ME Banknotes – $97 US
http://www.mebanknotes.com/iraqidinar/iraqidinar.html
The cheapest per Five Hundred Thousand Dinars:
US Dinar – $400 US
The cheapest per Million Dinars, regardless of how many million dinars you wish to buy:
US Dinar – $740 US
The cheapest set of notes (1 of every dinar denomination):
ME Banknotes – $41 US
http://www.mebanknotes.com/iraqidinar/iraqidinar.html
eBay New Iraqi Dinar Dealers
The selling of Iraqi Dinars has become phenomenonally huge on eBay. Once again, the trustworthiness of these dealers is questionable. However eBay has the advantage of a feedback system. Every person who buys anything from an eBay seller leaves feedback on that seller. Therefore, by checking the Dinar Dealer’s feedback, you can see if other buyers received their dinars after purchase. I cannot list any prices here, as the auctions only last for a maximum of 10 days. I can tell you that usually you will pay as much or more for your dinars using eBay as you would with any of the websites listed. Occasionally you can pick up a bargain, but usually the competition between buyers drives the prices up considerably. One advantage of buying through eBay is the PayPal system, which protects your credit card details, meaning a dealer can’t commit credit card fraud using your details.
Dealers I have tested
As promised, here is a list of the dealers whom I have tested, by buying dinars off them. All delivered the dinars in perfect condition as promised. I am not affiliated with any of these sellers in any way. Below are the eBay user names of dealers that I have tested and have proved reliable.
Trustworthy eBay Sellers
- drivesforall
- llihnamron
- theiraqidinarcompany
- usgreatdeal (This is the eBay presence of US Dinar.com).
- centralholesale (This seller was no longer registered at eBay as of 4th September 2006, if this seller re-registers, you can trust this seller)
Conclusion
I do not in anyway advocate the buying of Iraqi dinars. If you feel you must buy Iraqi dinars, only buy what you can afford to lose. Think, how much money can I afford to throw down the drain, because that is the equivalent of what you are doing. If dinars ever become valuable, it won’t be for at least 5-10 years. Your money will be frozen because there is nowhere to sell your dinars if you desperately need the money.
If you are going to buy dinars, and you want to use a dealer who won’t just take your money and send you nothing, use one of the eBay sellers I have checked out. If you feel it is worth the risk, try buying one of my “Best Deals on the Internet”. I DO NOT know if they are reliable or not. Bear in mind, you are taking a risk.
* The information published and opinions expressed are for information purposes only. Nothing contained herein constitutes financial, legal, tax or other advice. Important financial decisions should only be made after obtaining advice from a qualified expert familiar with your specific circumstances
113 Comments
Too long
Chase Bank in Arizona is selling and buying back Iraqi Dinars.
The government can claim all money inside iraq is legitimate and all money outside is iraq is not. Then, they will exchange the money inside iraq for new currency and the old one you can use for funny money in Texas holdem with friends.
insightful! Thank you for making sense to all of this dinar debacle.. Im from indonesia and these “get rich quick schemes” often get the best of many people yet so desperate for an easy buck but without the hardwork.
a ha
Anybody who understands even the most rudimentary principles of economics would know to stay the hell away from the 25,000 Dinar note. This think is an inflationary note reflecting the current minuscule value of the IQD to the USD. If and when the rate climbs, you can rest assured that this note will be the first on the Devaluation chopping block! Devaluation always occurs when a drastic exchange rate takes place to harmonize the currency on global markets; it would be best to get smaller denominations if any at all.
We have received reports that the Iraqi Dinar has gone to value. It should be formally announced tomorrow on Thanksgiving. The value which has been stated is $1.21 to start. The value should be posted on the FOREX within a day and then the US banks will be able to exchange the money. We expect it, the value, to rise quickly as there is a major conference in Egypt this weekend discussing the revalue of their country’s currencies attended by all the Midwestern countries, and they all want to match Kuwait which is at a $4.00 US per Dinar value.
We have had multiple reports that they are now using the smaller denominations in the daily business in Iraq. This coincides with the information that the central bank has had many currency auctions in the past few days as the country’s banks were buying the smaller bills to be ready for the revalue and to have the small bills available.
Foreign companies Investing in Iraq? Last time I heard, US Department of state employees publicly stated that their job transfer to Iraq would amount to a death sentence……
Does anybody know where I can set up a banking account to deposit my New Iraqi Dinars? I believe now is the time to flood the US Financial Market with the New Iraqi Dinars. So when ever the rate do change, I may have the option to cash out or invest. Again, now is the time!
what are the current rates of iraqii deenar…can any one tell here?
Today the value of Iraqi dinar from Central Bank of Iraq was 1210. Im an asian currently working here at iraq and having 10million Iraqi dinar
i strongly believe in iraqi dinars. i live in south east asian country and bouth 300,000 iraqi dinar to turn into dollors. i bought through a mutual friend. all notes are uncirculated. dinar will surely go up soon. it is not scam only the dealers are making more money by selling in high prices. the exchange rate today is 1US=1208. you can check it out from central bank of iraq.
I think this is a scam, I heard abouth it at victory christian center in philadlephia. If this is not posted it supports my thought.
Dinar were susposed to be “on” the World Bank list by Thanksgiving (I heard it too)…then Christmas…no later than Jan 1,2008, then Feb 1st by the latest. I haven’t heard anything else as of yet. Maybe APRIL FOOLS DAY.!!! It’s a scam people!! Realize it now and, if you can, get your money or as much of it as you can BACK. Actually, a good investment in Iraqi money would have been to purchase ANCIENT Iraqi/Persian money. If, when you purchased your original Dinars, you would have purchase ancient Persian gold coins..their value would have more than doubled (for me anyway, I bought my dinar in 2004). Too bad FOR ALL OF US!! WE WERE SCAMMED!!
If you really want to earn money (millions) plese check this video:
http://jampr.energy526.com
This is a scam, alrady this is beaing sold in Guam.
Could the existence of ebay and amazon create the dinar’s new evaluation without the country of Iraq controlling the currency? Could the sheer number who have purchased the currency outside of Iraq change the way currency is controlled and evaluated, especially with the decline of the US dollar and the increase of Iraq assets in the US and else where from the use of the Iraq oil revenues. Also if the value of the Iraq currency went up, and the people of Iraq suddenly increased their buying power, would the swing of living in Iraq have a new meaning, a meaning of fighting to maintain their own country because of the added value it would now bring, to be a citizen of Iraq? What would it be to participate in the new quality of life, with this higher value of Iraq currency, What would it bring to Iraq, it’s people?
I AM IN IRAQ and have been since 2004, the dinar has gone up since the induction of the new dinar, now I have read all of the blogs,”FACT” if you have the OLD DINAR you are screwed, but on the other hand the NEW DINAR has already gone up in value since 2004. To the individual that Stated that you can not trade the money anywhere but Iraq, then you need to go to Chase Bank in the USA, they buy it and sell it all day everyday.
TO ALL:
The Iraq Dinar is not a “scam”. IT is real currency that the US helped bring about and supported the selling of it in the US.
It has pumped MILLIONS of USD (United States Dollars) into the Country of Iraq…
NOW what might be classified as a scam is “its going to peg! – it will hit the 1=0.33USD exchange that was in history – get rich quick – turn $990USD into $3,000,000.00USD”
Those are comments made and thrown around all the time by dealers and individuals selling the Iraq Dinar Currency.
If you want to invest in Iraq Dinar, do not do it with the intentions of becoming rich overnight and depending on your age, do not say “this is my retirement” – as this may not happen for years to come.
This is a Country that has come along way, but has along way more to come to see the currency at record highs, oh and yes the “oil supply” that every one says they are the largest and produce xxxx amount of barrels a day!!! that does not mean that its going to happen either!
So if you have already invested money in Iraq currency do not get “down” that hit has not “pegged” “cashed” or any other term thrown around… Infact if you want to sell it, you can visit a Chase Bank branch and ask them for the sell price on IQD. It can be sold and purchased at Chase Bank.
Don’t listen to the “naysayers”. We lost out on several million dollars when Kuwait revalued their currency, because we listened to the naysayers.
Did you know???
I didn’t know! How could we???
Did you know that 47 countries have re-established
their embassies in Iraq?
Did you know that the Iraqi government
currently employs 1.2 million Iraqi people?
Did you know that 3100 schools have been renovated,
364 schools are under rehabilitation,
263 new schools are now under construction
and 38 new schools have been completed in Iraq ?
Did you know that Iraq’s higher educational
structure consists of 20 Universities,
46 Institutes or colleges and 4 research centers,
all currently operating?
Did you know that 25 Iraq students departed
for the United States in January 2005
for the re-established Fulbright program?
Did you know that the Iraqi Navy is operational?
They have 5 -100-foot patrol craft, 34 smaller vessels
and a naval infantry regiment.
Did you know that Iraq ’s Air Force consists of three operational squadrons, which includes 9 reconnaissance and 3 US C-130 transport aircraft (under Iraqi operational control)
which operate day and night, and will soon add
16 UH-1 helicopters and 4 Bell Jet Rangers?
Did you know that Iraq has a counter-terrorist
unit and a Commando Battalion?
Did you know that the Iraqi Police Service has over 55,000
fully trained and equipped police officers?
Did you know that there are 5 Police Academies in Iraq
that produce over 3500 new officers every 8 weeks?
Did you know there are more than 1100
building projects going on in Iraq?
They include 364 schools, 67 public clinics,
15 hospitals, 83 railroad stations,
22 oil facilities, 93 water facilities
and 69 electrical facilities.
Did you know that 96% of Iraqi children under the age of 5
have received the first 2 series of polio vaccinations?
Did you know that 4.3 million Iraqi children were
enrolled in primary school by mid October?
Did you know that there are 1,192,000
cell phone subscribers in Iraq
and phone use has gone up 158%?
Did you know that Iraq has an independent
media that consists of 75 radio stations,
180 newspapers and 10 television stations?
Did you know that the Baghdad Stock Exchange
opened in June of 2004?
Did you know that 2 candidates in the Iraqi
presidential election had a televised debate recently?
OF COURSE WE DIDN’T KNOW!
WHY DIDN’T WE KNOW?
BECAUSE…
OUR MEDIA WOULDN’T TELL US!
Instead of reflecting our love for our country,
we get photos of flag burning incidents at Abu Ghraib
and people throwing snowballs at the presidential motorcades.
Tragically, the lack of accentuating the positive in Iraq serves two purposes:
It is intended to undermine the world’s perception of the United States thus minimizing consequent support, and it is intended to discourage American citizens.
—- Above facts are verifiable on the Department of Defense web site..
……Pass it on!
I wonder how much Iraqi dinar was sold outside of the country and what will happen when the investors decide to cash in?
Daisy!! That has to be the most insightful and useful bit of actual factual evidence that I have read up on here yet! Thanks for your efforts in typing such a well written article
#2 by Daisy, Sep 11, 2007
Chase Bank in Arizona is selling and buying back Iraqi Dinars.
LOL. Iraq is on the U.S. governments OFAC list. Therefore any business or bank in the United States that is exchanging Dinars is commiting a crime and risking losing their Charter. I really doubt that Chase would take that risk.
RE: #25 Tom and #2 Daisy
http://news.bigg.net/n35525-Cash_for_Your_Iraq_Dinar_Now_at_Select_CHASE_Banks_in_USA.html
For better or worse there it is, Chase IS trading dinars.
Well, Well, Well,,,
Kitty Cat Kitty Cat I’m always where the money’s at!! And you people should shut up and don’t think and put your money where your big fat mouth is. Buy up as much Dinar as you can and sit on it. One day you can take vacation and fly to Iraq and cash in your millions.
) Dinar is Dinero. Think about it you dweebs. I have 10 million and am buying 1 million per month and kicking back. And when you’re sitting around going boo hoo I didn’t buy any dinar and I’m broke I will have done flown overseas with your wife and be sleeping with her and entertaining your wife cause I will be multi multi millionaire and can do any damn thing I damn well please. 
)
They are exchanging Iraqi Dinars and other currencys at Chase Bank here in Dallas Tx as well.
I was visiting http://www.iraqidinarscam.info/ and referred to your site and excited to see that you covered so much!
I have sold millions of dinars and do so daily.
If it was a scam, I clearly won’t be involed. It
a HUGE crap shot, and its going in the right direction!
GO BUSH GO, Get’ur done be fore you GO!
DinarMan
If it is no scam and people can make money the why are you selling yours instead of keeping them.
Wow! A lot of angry and misinformed people. Some of the previous statements were beautifully written and educational (as well as a few of the statements being juvenile and filled with filth that we could have all done without…you know who you are). In any event, it seems to me that this situation boils down to one critical point that no one has addressed thus far. Currency traders sell currency because THEY are gambling on the odds that they are going to MAKE money based on the rates that they are willing to sell whatever currency at that point in time. These rates are influenced by world politics, economics, and a host of other factors that the average layperson doesn’t take the time to research BEFORE purchasing. Therefore the sellers generally make money or they wouldn’t be in business very long. Perhaps with the Iraqi dinar the SELLERS are gambling that the currency may become TOTALLY worthless and a new regime install a completely different set of bills/papers/coins etc…thereby making 100% profit because they promised you nothing. However, as a currency investor or buyer, you gamble that the situation in that country or market arena will improve and that there is a glimmer of hope that they will keep that currency and the value of it will increase accordingly. If it does, you made a wise investment (and got lucky). The ONLY REAL way to know whether or not to invest in Iraqi dinars is to research the public financial and investment records of government and diplomatic officials involved in Iraqi politics or Iraqi economic issues to see if THEY ARE PURCHASING these new Iraqi dinars or not! If they are, then you should too. If they are selling them like hotcakes, then you had better dump yours fast or risk getting caught with a lot of worthless paper. Just a few thoughts from a poor little drug dealer in West Virginia, USA.
In seven months of investing the dinars I purchased have gone up in value approximately 10 percent while the dollar has dropped, You tell me is this a good investment or not?
The Dinar may make it to 1000:1, but that is about the best you can expect from this dinar.
Anyone who thinks that Iraq can introduce a currency, increase the supply of it to 26 Trillion (over 3 times more than the US dollar, 3 times more than the Euro) and use this currency for almost 5 years now… an then somehow magically increase the value 120,000%… well you know the old sayings.. I’ve got some land in Florida I’d like to sell you… or maybe a bridge in Brooklyn.
It’s amazing how many people involved in this thing don’t understand simple economics. Econ 101… supply and demand. The Dollar and the Euro get their value from the the demand that is generated from the size of the economies. The US has a $13 trillion dollar GDP, The Euro countries have a $12 trillion GDP. That makes for a tremendous demand for those currencies. Iraq on the other hand has a GDP of about $90 billion… and almost all of that is from oil sales which are in dollars so it does nothing for the dinar. The Iraqi non oil economy is practically nothig. There is virtually no demand for dinar except for speculators. With a money supply 3 times that of the Euro or Dollar. Iraq would have to have their non oil economy grow to approx 3 times the size of the U.S. or Euro nations (that would be a non oil GDP of about $35 trillion) in order to have the dinar rise to 1:1.
Hopefully you see that is a total farce.
If Iraq wants a rate of 1:1 or anything close, they will issue a new currency and re-denominate. In other words, lop 3 zeros from the currency. For every 1000 of this dinar you have, you will get 1 of the new currency. That is if they don’t somehow block money from reentering the country for an exchnage.
Whatever money you have in the Iraqi dinar is at great risk!
So why are scamming theives like talkgold’s okosh, are seeking silly people to buy Iraqi dinars from?
The one item which no one is mentioning is the fact that the USA has invested billions of dollars into Iraq and will continue to..
The US will not let the Iraq mission fail or will the Dinar fail.
The Dinar may not reach 3:1 value but it sure will go up.
After 20 years in the investment banking business I have learned one VERY IMPORTANT lesson: IF IT LOOKS TOO GOOD TO BE TRUE IT’S JUST THAT…. TOO GOOD TO BE TRUE!!!!!
I can vouch for Chase Bank. They have and ARE selling dinar because I have bought it from them. I paid $998.66 for 1,050,000. They will buy it back and if you dont have an account with them they charge a $5. surcharge. Not a scam just dont be stupid and buy from an online vender that is OBVIOUSLY trying to turn a profit on you. Anywhere you find a Chase that does international currency exchange you can get dinar. The only catch is they do not have it on hand. They give you a reciept and you get it in 48-72 hours.
The same goes for Fifth Third Bank.
ok… uhmm lets start at the beginning … what are investments a risk right … . so for everyone who believes this is a get rich scheme then… that would be the only reason no is investing right…?
wrong have you ever turned to a non investor say hey i know something for you to invest in… when they ask why … you say well in the past…and the conversation ends there….
because if you look at the past wars… like ww2, korea, vietnam, and even desert storm with kuwait… all of this happened its just a matter of how much…
so this is just an investment… investments are risks every single one of them… im not going to lie im looking at this investment very promptly cause its not everyday a country goes to war… and thats why it seems skeptical cause people would be saying well why werent they doing this 6 years ago… simple we weretn at war… so ive said my peace…
From Forbes to CNN to NT Times etc. there are warning articles re dinar scams and such….in my south american country of Peru I have seen 4 times our currency change names and the older one get destroyed….and it was never so unstable a country as Iraq….It seems the proof of how good or bad an investment is to sell it back to whomever you bought it from and see if they take it and give you back your strong currency! plus I also find sooo fishy all these websites selling dinars with no offices listed nor company info and basic emails……very shady….
OK I have bought in, bought millions of dinars on the chance that there might be a future value. I have a degree in economics. I hear all the postive (wishfull) thoughts on the subject and listen to all the suth sayers that state that this will turn a corner and be a hit because there value there when it hits the open market. ON THE OTHER HAND. I hear the postings here with details about oil is in US dollars and the volume of dinar out paces much larger economies.
I would like to do two things. First, Get smaller bills. This seems like a safer way to hold my Millions (and cover more wall area in the event of a currency change or devaluation on the open market.)
Secondly, get some independent authoritative details about what is currently going with the economy, monatary policy, US support of the Dinar. Details like this will help me feel more comfortable with my roll of the dice.
Any insight on how to go about this?
By the way I can afford this risk and loosing all that I have gambled here will only make for a good story if it fails to produce a nickle.
Reality Check,
I find error in your post. As of late we have been seeing reposts of the lopping of the IQD. Sadly they are reprints of past articles dating back as far as 2 years and nothing new. Lopping the IQD will do nothing (This action could even drive away any out of country investors) to help the Iraqi people or government. I fear that most people are making the mistake of the lopping off of three zeros to the movement of the decimal point over three places!
About a year and a half ago a study was conducted on the assets of Iraq. The data showed that without pegging the IQD to their oil reserves or their newly found gold fields, recovered assets taken by Saddam Hussein, the GOI could pay out as high as $6.00 USD/IQD without hampering their rebuilding of Iraq.
To date, Iraq can afford even a higher buy back of their IQD if so desired. In truth, the economy, stability, security, and rebuilding of Iraq is astounding given the region and problems. Oil reserves have been updated to twice their original amounts with just last week a 3 billion-oil contract signed with China. Since our last study, Iraq is now reporting over a 76 billion surplus and growing with additional oil contracts and sales.
The investment in the IQD is NO scam, only the scammers that would like to cause the investors to bail out prematurely. The fact remains that President Bush has signed legislation allowing Americans to invest in the IQD. If not, please explain why the U.S. Treasury is sitting on 1.5 trillion IQD?
DWolf
Ok..let me get straight here..Does anyone think it is a good thing to invest in the IQD or not?
The dinar will revalue tomorrow at $3. Wooottttttttttttttttt.
Hi Shotgunsusie, where are you posting now days, I miss reading your info. You always had good stuff. Take care.
Quaid
This by far is NOT a scam. Scroll back up and you will notice that Ender stated that the US to Dinar conversion rate was $1.00(US) to 1,475(IQD). Now take a look at this article I’ve found online
http://www.menafn.com/qn_news_story_s.asp?StoryId=1093210730
which states that the conversion rate is $1.00(US) to 1,184(IQD). “IT’S GOING UP”
If you need more proof, go to xe.com and do the conversion; you will see that the current rate is $1.00(US) to 1,180.64(IQD)
IM BUYING THE DINAR!!!!!!!!
The whole USA has 850 billion dollars out there in cash and coin. When Iraq printed the new money, they had to print scads of it so that they could exchange it for all the inflation money that was in the hands of the people.
If the dinar went to $1, they would have 6 trillion dollars in currency. They have 25 million people. The USA has 300 million.
I don’t know how much currency was in Iraq when the value was $3.20 but I would venture to guess that it was much,much less than there is now. That is why a zero lop is needed to decrease the supply of money.
People get real when it used to be 3 it was because Saddam said so not because it was worth it. DO you people know what Iraks economy depends on?? OIL!! how much is the barrel today? Alil below $65 so is the economy getting any better in irak? dont think so. It doesnt take an economic geek to know that. But to all of you people that are investing I hope you are not depending on that currency cause it could change any time and be just monopoly money. Good Luck!!
There has been one point of interest forgotten here… If more people continue to invest in IQD there is a possibility that the act of purchasing a currency does have an effect (although not as much as usual currently given the economic conditions worldwide), on that currency. The effect should be an increase in value of the acquired currency.
Just hope that the investment that the US has made in the war and structure of Iraq pays off someday. Be patient something is bound to happed for the better sometime……..
Iraq will be the richest nation in the world, so this is not a scam. A country does not determine the value of the currency, but the IMF. Go to http://www.cbi.iq and see that they have an auction every week in selling and purchasing dinar.
HELP…HELP..HELP….Husband buying dinars..not paying bills…gonna leave his butt..UNLESS,he flies to Iraq to cash them in…
What people have to understand is that this is an INVESTMENT. You are not going to get rich tomorrow from it, and like every investment you take a chance of winning or losing. The point is to buy what you want and put it in a box and forget about it for 10 years. There is no way Iraq is going to recover that fast and be worth millions in a few months or even a couple of years. It is just going to take time. You just have to be patient and not expect the quick millionaire hype. At the current price even if the economy does not explode the dinar is still worth the money you paid. And even if you lose after 10 years, its money forgotten anyways. Just my thoughts and reasoning.
But on a side note if you do buy, make sure you buy from a reputable source and DO NOT pay more than the money is worth at the present time. Salesman are not encountering hassels purchasing dinar resell to you, it is readily available. Anything above the actual worth is profit to them and not to you. So if you spend $1000 for dinar that is only worth $850 and the money never goes anywhere you are out $150 when you resell it because you’ll only get $850. Make sense?
The only people making millions of dollars are those selling the worthless currency to hard working middle class people, because they are the only ones buying it.
There is so much wrong with this idea that it is virtually impossible to narrow it down to just 100 reasons why your money will “NEVER “reach its “POTENTIAL” monetary value.
What you have is a bag of magic beans that someday you hope will help lead you to a place very few of us will ever know, financial independence.
This is an example of why the rich get richer and the poor stay poor.
someone once told me to invest in a company called pfizer. Sure wish I had bought into that scam. who would have thought that that a little blue pill would be all that.
To all who think buying dinars is a bad investment, then why is it that kuwait was in the same situation, and who ever bought their dinars got rich. Same here. ALSO I BET YOU THAT MOST OF YOU OUT THERE DON’T KNOW THAT ON DECEMBER 15,2008 THE BANKS WILL NO LONGER BE SELLING OR BUYING DINARS, NOBODY KNOWS WHY, BUT I’D BET YOU BECAUSE THE RATE WILL BE GOING UP SOON, SOONER THAN YOU THINK,AND WHY IS IT THAT THE GOVERNMENT NOW REQUIRES A COPY OF YOUR DRIVERS LICENSE WHEN YOU BUY DINARS FROM A BROKER. WHY BECAUSE THE GOVERNMENT WANTS A PIECE OF THE TAXES WHEN YOU CASH IN YOUR DINARS.
Watch how quit it goes up
With our economy as bad as it is and with all the undisclosed number of people who bought dinar, and the amount, just think of how much people are going to have to pay in taxes to help our government. It’s a win win situation for the economy, government and the people who have invested.
To all I have been invested since feb 04 when I was in Fallujah Iraq, it’s been a long ride and I will continue the ride with no regrets, I have a bettr chance of gaining value on my Dinars then I do winnig the lottery back home in the states. I have watched and listen for a long time. I believe they will model their currency after UAE. That’s why they have the big notes, but with my theory they would have to 1,5,10,20 for my theory to come a reality.
Just a useful bit of information. I use Chase Bank and on 12/12/08 they personally informed me that effective 12/14/08 Chase will no longer be trading the Iraqi Dinar.
Tulips, anyone? No? Shares in a Dot.Com? Or a sub-prime mortgage? Iraqi Dinars then? A pleasure to do business with you, sir!
I just bought $1,000,000 US dollars in dinars. If it goes up like experts say it will I will be worth $3,000,000,000. I’ll be a multi-billionaire!!!!!!!!!!!
Just think if you bought $50,000,000 US dollars in dinars that would make your net worth $150,000,000,000. You would be richer than Bill Gates!
Everyone go take out a 2nd, 3rd, or 4th mortgage on your house and stock on dinars!
I did not invest in Microsoft, Pfizer, Google, or any of those billion dollar companies. I will not make the same mistake again. I am going to invest my life savings in dinars and I will be laughing at the people that miss this opportunity. A chance to turn $1,000 into $3,000,000! That’s the opportunity of a lifetime!
It all comes down to this: If you want to invest in IQD, do it. If not, don’t. I do & I did.
Happy New Year from Husayniyah, Iraq!
The low value of the dollar? Ha, The dollar has benn steadil climbing against the Canadian Dollar and the British Pound Sterling. I can’t recall a time when the dollar was so strong vs. the Pound.
The dinar has to rv soon they arent going to let there country live in poverty anymore. we [the usa] arent going to save there country and sit around and watch them rot!!!!!!!!!!!!! trust me it will rv very soooooooooon!
Here’s my take on all this…
A man I work with here in the U.S. had worked in Iraq as a contractor until sometime in 2005. He and a couple of other contractors have told me of the horror stories of working there and the people they saw killed (Iraqis mostly and they have the pictures to prove it). In early 2007, he told me that while he was there he heard of many U.S. businessmen buying up Iraqi Dinar for the reasons we all know. He has some dinar himself.
So, that got me hooked. I went ahead and purchased a few million dinar from a dealer. My contractor friend had no way of getting me dinar after having left Iraq. I thought, “What the heck. Maybe this could be something.” I have gone through the entire range of emotion of wild enthusiasm, and the realization that it is a real gamble and could turn out to be nothing and that I may lose everything. In other words, I’m not crazy enough to sell the farm to buy dinar.
Over the past two years since my purchase, I have seen the dinar slowly increase in value… not enough to amount to much so far. I have now become more of a realist than a dreamer. I have read about interim inflationary currencies when countries are in crisis and that makes sense. I have read of the lopping of the zeros and that makes sense. I have read of the investment that the U.S. has made in Iraq at the expense of many lives… and that makes sense.
I believe that the NID in some way IS an inflationary currency that will be revaluated/adjusted on a reasonable scale (up to an including the lopping of the zeros) because that makes sense. I also think that there are many, many, many individuals including dealers who have invested money in the dinar.
From a pure scam point of view, it seems likely that at least one of the somewhat legitimate news agencies (like 60 minutes or the O’Reilly Factor, etc.) would warn against purchasing dinar attributing it to a definite scam. Not the case. So… let’s think about this… Let’s assume the zeros are lopped.
Right now… 1171 NID = 1 USD
Lopped zeros… 1.171 NID = 1 USD
If Iraq eventually is recognized as a stable government in the world community (it’s going to take awhile), I believe that if the NID is traded on the open market and returns to it’s historic value from 30 years ago and beyond, it becomes approximately…
1 NID = 3 USD (general historic value)
If you work out the math, even after lopping the zeros, you’ll notice that this is a multiplication of about 3.5 times it’s current value.
So, if you invested $10,000 USD today it would become about $35,000 USD if the NID returns to it’s historic value (after the lopping and revaluation).
It just doesn’t make sense to me that a person who only invested $10,000 could suddenly become a multi-millionare (no zero lopping) because that would produce tens of thousands of multi-millionaires instantly (and even billionaires). That doesn’t make sense.
On the other hand, I also don’t believe Iraq will prevent people from re-entering the country on a 3.5x exchange rate with old currency. That seems very extreme and would cause quite an outrage I would think, especially after we had helped them so much financially.
Of course, I am no Nostradamus and have no idea what will happen, but I think this is a reasonable assumption of what is likely.
To me investing in the dinar is no different than investing in the stock market or taking a trip to Vegas to gamble. Anyone who is careful with their money and does either of the two knows that you don’t invest or gamble anymore than you can afford to lose. I personally find that investing in the dinar seems to be a good opportunity or a good chance for a more secure retirement. I have invested in the dinar, but no more than I can afford to “Sit On” for a short time or 10 years from now. Everyone wants to make money for one reason or the other and get financially secure if they can and most of the time it involves taking a chance. After all…how do you think all these big names that had been mentioned in previous posts got to where they are today…..They had to take a chance.
The US postal service makes an incredible amount of money selling stamps that are never used to the stamp collectors. Perhaps Iraq is making an incredible amount of money selling dinars that have not been used with this RV suspense? See the point? How long can this go on?
I am presently about to buy 2 million dinars. enough to know that it is a gamble but,so it was a gamble when a person close to me made over $600,000 after the invasion of kuwait.if you don’t take a chance in life then you will never know.how many reirees and working people have lost thousands with-in the past year in the stock market.so people , realize that this is a chance.buy enough that you will not miss it and you will be ok.
I had been mulling over the idea of buying dinars for some time, and am aware of some of the issues discussed here. I am curious about something, though. If they do lop off zeros, doesn’t that mean they’ll be printing a new dinar? Wouldn’t that make the current dinars worthless unless you were able to exchange them for the replacement dinars with the zeros removed?
Even if they use the same dinars 10 years from now, with all the dinars that were bought now, will Iraq be able and willing to buy all those dinars back when (and IF) they are worth so much more?
I like the idea of being able to buy $1000 USD of dinars now and 5 to 10 years from now turning it into 1 or 2 million dollars, but I still have doubts that I’d be able to cash them in.
Anybody have any idea why Chase stopped trading dinars?
I bought a million dinars for £600 in 2005 … already been 4 years … to be honest, im just looking at is as a long-shot, a chance … how many people lose hard earned money on gambles? stock market or even unsuccessful business ventures … basically if the currency didn’t double or what ever, i’d probably screw about it for the one day I found out about the news but it will be long forgotten, but if I double it, i’ll be slapping my head for not investing more cash in the dinar! either way, im happy to know that im not the only one taking this gambling but MILLIONS of others around the globe are also!! so it’s all good …
Btw, Chase stopped trading for unknown reasons, so did many other banks, I bet thats because they know that the currency will rise in value sooner than you think!!
Here is another thought. Has anybody looked into establishing an account IN Iraqi dinars? If you had the currency in electronic format instead of paper currency, it seems to you’d not have to worry about the loping of zeros and re-issue of new currency. Anybody know of a bank that would allow you to have an account in dinars?
Check out any bank in Iraq. They’ll give you an account with dinars I’ve heard.
I this is a scamm, it souds WAY too good to be true, Im from Puerto Rico, and they sell the 25,000 dinar for only 30$, why would the brokers sell it for such a cheap price? IF IT WERE TRUE, wouldnt keeping the dinars be better for them? I mean, they would be stinking rich!…Then again, they sell it for 30$…doesnt make any sense
Mili I know the person you are talking about (James Mendez) I know since I live in Puerto Rico too. It is true, it sounds way too good to be true, but there is something very interesting I heard Central Bank of Iraq is considering about making smaller denominations such as 25 Dinar and 5 Dinar is this is true then the inflation of the dinar will go down and the people who bought the 25 thousand dinar bill will suffer the risk of loosing their money or get the exchange as a 25 Dinar bill. My recomendation buy on ebay a pack of 50 dinar bills they are like 15 dollars and there is more chance off succeed with this polemic of the dinar. I hope this makes sence for you
cl, the next question is. Can these banks in Iraq be trusted? Would they be a safe place to open an account with them?
even life is a gamble, so i took a gamble for the third time in my life, and i should have died all three times, but i am still here, so you throw away that much money in what i bought in dinars, every day even if it is for a pack of smokes, or what ever, so believe what you will , and i will be laughig at those non believers, as i leave the bank with my millions have a great year non believers.
Why not invest in the Dinar what have you gotten to loose?
michel – most say the banks are safe unless there is a war again?
JP Morgan and Citibank just agreed to help out their banking system. Check the news.
2007 thanksgiving suppose to be on the market, numerous times since some other story about the worth of the dinar. look i bought some will hold on to it. but i am under no delusion that i’m going to be a millionair. if it were that good of a deal warren buffet, or george soros (communist extrordinar) would have cornered the market. i watched the kuwait money and wish i had the insight at the time but this is different. if anyone has the phone number to that chase post it. i tried to look up dinar and chase online nothing. i think the people that post that stuff are either selling it or trying to keep their dream alive. either way lets comeback to reality, just like the obama maniacs will in the next months or year. to good to believe comes to mind for both of the previously mentioned situations.
Isn’t the old saying: Buy low and sell high? If Bush almost bankrupted USA to get dibs on Iraq’s oil, canceled all of their debt, and is paying to rebuild it with the lives of USA soldiers, I think something is up. Dinar is at its lowest and it can only go up from here. Who knows how long it will take to rebuild the country. Who cares? I have kids that can benefit from the investment.
Is there any US bank left that trades in dinars?
Call a Citibank branch, JC.
Okay cl, now THIS has potential. I did a websearch and found an article to what you were referring in the Wall Street Journal:
http://blogs.wsj.com/iraq/2009/01/28/western-bank-giants-prepare-to-revamp-iraqs-financial-system/
I was never at ease with the idea of buying dinars as paper currency given that it is not openly traded on the foreign exchange market, and could always be made worthless by a revised paper currency being issued in its place.
If I can send an electronic funds transfer to a bank in Iraq that has been helped by JP Morgan and Chase and keep the dinars in electronic format, then I will not care if they revamp the currency.
Has anyone thought of the ethics of this? Okay, say, for the sake of argument that the NID will in fact revalue at…say… 1:1. So, someone who spent $1 now has between $1,000-1,400, less conversion expenses, etc. You just did nothing and made money. All you did was trade at the right time. And, we wonder why the global economy sucks??? We exchange something of value for nothing of real value, creating a deficit in the system. Someone, somewhere is paying for that deficit. Whether it’s that 8 year old kid in Thailand making you that t-shirt or the middle-aged man in Mexico building your F150, someone is paying for your luxuries. Our luxuries. That’s why I am against things like day-trading, and property flipping. Sure, it’s great if you’re the one doing it, but often times, the person involved didn’t do anything to truly enhance the value of the product they just resold for a higher perceived value. We don’t have the gold backing the USD anymore. We don’t have anything backing it, really. Pretty much all the currency in the world has gotten out of control – and it comes from people, companies and governments over-extending themselves.
Sure, the idea is appealing. Something for nothing is ALWAYS appealing. I have friends who are investing in the Dinar, who have been saying the same things as many others here, “It’ll revalue!” The magic date that I last hear was that a revalue would occur by or on 15 January. A date which has come and gone with no significant change to value. Not even a drop of a single zero.
Invest if you wish, but think about the imbalance you create in the system in the process. No single raindrop believes it is responsible for the flood, but when enough raindrops fall… You get the picture. If we only think of ourselves and think, “I’m only one person… What harm will it do?” we doom ourselves, our communities, our nations, our planet.
Instead of finding a way to take and take and take, let us instead find a way to invest without looking for a physical return. Give to those in need instead of hoarding for ourselves. Don’t give to get. Simply give freely not looking for anything at all in return.
If the Dinar does revalue, don’t the Iraqi people need that money more than we do?
JR, you are correct in all you say. But years ago Bush made a law that allowed US citizens the opportunity of investing in the future of Iraq. We sent our US dollars to them in exchange for their worthless money. They have been using our money to survive on for the past few years during the war. We prayed for them to recover. As they do recover in the future we will be paid back (hopefully with a profit) by cashing the dinar back in. It is simple. If you would of heard about this 4 or 5 years ago, you might have helped them out too? The people that just heard about the dinar recently may be in it just for profit, as you said.
very interesting topic.Thanks you guys for the information..I have a couple of questions first.
1) I am currently buying dinars off ebay they said the dinars were certified through the Thomas De La Rue Machine..Are these okay to buy..?? ohh I bought (2) 500 dinar bills
2) Next question whenever we do want to cash in (probably 10+ years from now) can we just take it to a bank in America, and they will trade it and give me american dollars?
Sorry about all these questions I am 25 years old, heard about iraq dinar investment and I really think its a good idea..Especially a great investment for our children..thanks for answering!
IB, Make sure you don’t get old notes, which are only collector items, on eBay. New notes should pass the DeLaRue verification to not be fraudulent. Iraq has written goals to be on the world trade market. They are slowly becoming modernized. Soon they might all have credit cards like us. lol Citibank seems to have the corner on trading the dinar right now. In time, dinar will be traded everywhere.
Did not Brazil , do this dollar thing a few decades ago . they did it four or five times. each time they reprinted new money and voided the old bills. and when you print $25000.00 dinar notes you save on paper.
if it walks like a duck and quacks like a duck it is a duck. look at what the investment houses and banks just did to the world. and you
people think that you are going to make 3,000,000.00 on less than a 1,000.00 investment ” Barnum said there was one born every day.”
If 50,000 people invest 1,000 dollars the Dinar sellers make
$50,000,000.00 before any overhead . Go ahead buy your dinars because as soon as you buy them they might get you and two more couples a night out if you can get to iraq . my brother is still waiting to get back to brazil to spend his hundreds of thousands
Ha! I wish I could send this in an email to the dumb idiot who told someone that he should read and educate himself about investing on the dinar. He was sore somebody told him it was a dumb thing to do, so, of course, he lashed out. Wow, won’t he be sore when April 27 comes and goes and his investments won’t see a single profit. he should get a display case for all that paper he bought, that is the only way he’ll get something out of his investment.
What an idiot!
check out dinarbanker.com
Damn sounds like a gamble. My minds telling me this Dinar wont do this incredible millionaire making as everybody thinks. And im to lazy to do due dilligence so I think ima hold on to my Wachovia savings account and keep complaining when I role over in the bed in the morning. But who knows! Im just not willing to invest 10gs for 10 years down the line.
What’s the beef? Current exchange rate is $1.17US for 1000 NID. Folks are paying up to $5US for 1000 NID on ebay right now. Darned good profits to made on them right now!
Do not buy from e-dinar.com.
I lost $900.
Let’s look at this from a common sense perspective…who pays for the revaluation? The additional value doesn’t appear out of thin air. There is about 35 Trillion NID in circulation using the M2 calculaton (which is worth $30 Billion USD). If it does get revalued to even 1NID = $1, then the NID in circulation is now worth $35 Trillion USD. There is only $7 Trillion USD in circulation worldwide. Where does the other money come from? There’s no way the US could support this type of revalue much less the Iraqi Central Bank. If it was soley US supported, we would have to quintuple our money supply! In other words, we would have to devalue our currency 80% to revalue theirs. Is ther any country that would devalue their currency even 1% for this cause? Very doubtful. Also, what’s the motivation for a revaluation? It doesn’t make the country more productive. If the US or some other country supported the revalue, it would simply be a gift to those currently holding currency. We are already gifting them resources to the tune of billions of dollars.
Any improvement in the NID value will either be paid for by the Iraqi government through their own financial reserves or will be an inherent strengthening due to the improvements in the countries political and economic climate. Either of these or both are possible but it is more likely to be a slow and steady improvement if any at all.
I purchased from Dinarbanker.com – good price and service.
Ok well Chase is not the only bank selling dinar, and if a US bank is selling currency they have to buy it back or exchange it! They can’t just rid of money either, if you buy through a bank and the NEW dinar is changed to another note, the bank still has to buy the currency back that they sold you! Otherwise banks all over the US would have vaults of paper, somewhere someone is exchanging this currency, so whats there to lose, even if it is done away with you are not out anything unless the value drops from when you bought it!
One question. If this article does not recommend buying Dinar, why did the author buy some???
Well.. don’t know how the future is, dinar may be up, or not..
The different is how dare we will take the risk…
let say we spend USD1k to buy dinar…
If the dinar scam.. we will only lose USD1k…
but if the story true… Dinar really rise up.. We did not act…
We will lose USD1mill??!
Well, I first heard of Dinar conversion this week.. The person talking to us about it has the same things to say.. 100.00 US will turn into 300k US and it is supposed to happen Monday or this coming week sometime. I found comments saying the same things starting in 2007. If the people selling dinars knew this was going to happen, why sell them at all??? I figure slap 100.00 dollars into it if you have it to burn and maybe you get lucky… Most likely not though and you will have some colorful toilet paper!!!
the dollar is going to devalue and they are going to make a new currency for the upcoming North American Union (NAU). The Iraqi Dinar is certainly a risky investment. But think of it as going to Vegas. Just use what you wouldn’t mind loosing, and know that by going to Vegas you are more than likely to loose your money but then again… you might get lucky!
This statement is spoken by someone else in a blog in September 2009, not by me but please rethink carefully:
Ok…so here we are.
There is a large amount of intel and supporting news that has been gathered and shared on the chats, postings and e-mails from various forums.
All of this points to a revaluation of the Iraqi Dinar and other currencies to happen soon.
This is an event that has been in the works for many decades and is being coordinated on a global level as we all know and the supporting data of same is easy to find on most forums or by the simple use of a standard Internet search engine.
I will use this brief e-mail to summarize and clarify the current situation as it relates to currently available intel, info and data as cross referenced with intel we had received in the spring of this year as a base reference.
I will be doing this because it has become evident to those who were made aware of this information earlier this year by a former contact who had shared information with us that we now seem to be seeing this information being replicated and verified by other research teams working independently.
Recap from spring of this year:
1. We were told there will be two rates.
One rate is to be a higher rate that will not be seen by the public and will only be used as a government to government rate.
This higher government rate had been set up by the IMF and World Bank as a means of settlement of outstanding international issues between Iraq and the debtor nations.
This was being done as part of the International Compact with Iraq. The I.C.I. This higher government “book” rate was to never be seen by the public and will never be used outside of its
specific parameters of use as per designated by the IMF, the World Bank and the International Compact with Iraq.
The higher non-public government rate we were told at that time was planned to be $3.86 The second rate we were told is the lower “public” rate. This rate we were told would be higher than a Dollar, lower than the Pound and at or near the Euro.
The current rate of the Euro is $1.47
2. We were told there would be a limited time to exchange the Iraqi Dinar.
We were told that this time which will be made known some time after the rate change would be no longer than 45 days.
Now….here is where I would like to give some clarity to some of the current information we have been hearing.
There was word that the U.S. Treasury would be taking something “off of the top” of the Iraqi Dinar exchange.
Well that is some what true…but how that will happen is (as we were told in the spring) by the existence of the two
separate rates….the higher government rate and the lower public rate. So YES the US Treasury will get more…..but not in the way most have feared.
They (the US Treasury) will receive more by the use of the higher government rate….not by taking anything from you,
but by ADDING to the book value of the Iraqi Dinar as prearranged by the ICI, IMF and WTO.
So nothing will be taken from you!
BUT value will be ADDED to the Iraqi Dinar when the U.S. Treasury and the governments of the world take possession of the IQD from the banks.
So nothing is taken off of the top. BUT The value of the Dinar is MORE when used by authorized governments.
Now as an example this is how this will work and how everyone including Iraq will benefit from this.
I will use the rate of $1.00 (one dollar) as an example to explain this….remember that rate is only an example.
Example:
1. Lets say the Iraqi Dinar revalues at a rate of $1.
2. Everyone goes to the bank and exchanges their dinar and opens accounts and the banks are flush with
thousands of brand new multi-millionaires.
3. The bank then turns over all of the exchanged Iraqi Dinar to the U.S. Treasury who gives the banks a higher commercial rate.
As an example I will say the U.S. Treasury gives the banks $1.50 for every IQD so the banks now have
just made .50 pure profit from every single dinar exchanged with the U.S. Treasury.
4. As soon as the U.S. Treasury has possession of the Iraqi Dinar it is instantly listed on the books at
the higher “government rate” of $3.86 so the U.S. Government and all the governments of the world will
make more than 100% pure profit instantly!
Also all of the existing Iraqi Dinar that is held by the governments at the time of the revaluation will make the bottom lines of all the nations soar!
So just as your financial bottom line will change from the RV so will the US Government’s as well as other governments world wide!
So YOU make money…the BANKS make money….AND the US Government makes money!
Now…as most know…it has been arranged by the IMF and the ICI that the Iraqi Dinar held by the nations
only be returned to to Iraqi in a very controlled manner.
Now this had been set up before hand by the ICI and IMF but as many may know this just became an serious issue
when China threatened to do otherwise and that would have been a very destabilizing act upon Iraq’s economy.
So deals have been struck to prevent this from happening and the assurances from the nations who hold
Iraqi Dinar had to be solidified to insure that the return of the Iraqi Dinar to Iraq by the nations who hold IQD would
be done so in a very metered and controlled fashion.
This info about the “China situation” as most know has been provided by the team at DV and if you want those
details contact a DV or DS member for the details.
So how does Iraq benefit from all of this you ask?
Well besides the obvious positive points that the revaluation will bring to the Iraqi people and government there
are also hidden aspects to this “two tier rate” that help Iraq.
First I would like to point out that Iraq is a nation…a nation who has as its primary products and exports oil and natural gas.
Iraq is NOT in the currency exchange business.
When the Iraqi Dinars that are held by the U.S. Treasury and other governments return to Iraq they will be used
to buy oil and natural gas…..so there is no exchange of currency.
AND the benefit to the US and the other nations is that this high government to government rate will in essence enable
the US Government to buy Iraqi oil at a great pre set discount!
That is because the Iraqi Dinar that will be used by our government to purchase oil and gas from Iraq will have been secured from the banks for less than half the value!
ALSO! What this has done for Iraq by doing this is in this manner is Iraq now has GUARANTEED customers for all of it Oil and Gas!
So all of the governments who will soon be holding all of these Iraqi Dinars have a very real incentive to hold on to all of the IQD they can get…for in doing so they are assured of the discounted purchase of oil and natural gas in the future.
So EVERYONE benefits!
YOU become rich!
The Banks become flush with brand new millionaires!
The US economy soars!
The banks make BILLIONS from the exchange to the US Treasury.
The US Treasury makes TRILLIONS of dollars instantly!
The US Government is guaranteed decades of discounted oil and natural gas products by the use of the Iraqi dinar to purchase oil from Iraq.
The nation of Iraq is guaranteed customers for their oil for decades!
This is a classic win win situation.
And that is how this works to the benefit of all…you…the banks…the US Government and the nation of Iraq.
Got it?
So we have collaborating intel and great news.
All looks great and I expect this to happen at anytime.
Date and rate classified.
Hope for the best.
Best of luck to all.
Phoenix
This statement is spoken by someone else in a blog in September 2009, not by me but please rethink carefully:
Ok…so here we are.
There is a large amount of intel and supporting news that has been gathered and shared on the chats, postings and e-mails from various forums.
All of this points to a revaluation of the Iraqi Dinar and other currencies to happen soon.
This is an event that has been in the works for many decades and is being coordinated on a global level as we all know and the supporting data of same is easy to find on most forums or by the simple use of a standard Internet search engine.
I will use this brief e-mail to summarize and clarify the current situation as it relates to currently available intel, info and data as cross referenced with intel we had received in the spring of this year as a base reference.
I will be doing this because it has become evident to those who were made aware of this information earlier this year by a former contact who had shared information with us that we now seem to be seeing this information being replicated and verified by other research teams working independently.
Recap from spring of this year:
1. We were told there will be two rates.
One rate is to be a higher rate that will not be seen by the public and will only be used as a government to government rate.
This higher government rate had been set up by the IMF and World Bank as a means of settlement of outstanding international issues between Iraq and the debtor nations.
This was being done as part of the International Compact with Iraq. The I.C.I. This higher government \”book\” rate was to never be seen by the public and will never be used outside of its
specific parameters of use as per designated by the IMF, the World Bank and the International Compact with Iraq.
The higher non-public government rate we were told at that time was planned to be $3.86 The second rate we were told is the lower \”public\” rate. This rate we were told would be higher than a Dollar, lower than the Pound and at or near the Euro.
The current rate of the Euro is $1.47
2. We were told there would be a limited time to exchange the Iraqi Dinar.
We were told that this time which will be made known some time after the rate change would be no longer than 45 days.
Now….here is where I would like to give some clarity to some of the current information we have been hearing.
There was word that the U.S. Treasury would be taking something \”off of the top\” of the Iraqi Dinar exchange.
Well that is some what true…but how that will happen is (as we were told in the spring) by the existence of the two
separate rates….the higher government rate and the lower public rate. So YES the US Treasury will get more…..but not in the way most have feared.
They (the US Treasury) will receive more by the use of the higher government rate….not by taking anything from you,
but by ADDING to the book value of the Iraqi Dinar as prearranged by the ICI, IMF and WTO.
So nothing will be taken from you!
BUT value will be ADDED to the Iraqi Dinar when the U.S. Treasury and the governments of the world take possession of the IQD from the banks.
So nothing is taken off of the top. BUT The value of the Dinar is MORE when used by authorized governments.
Now as an example this is how this will work and how everyone including Iraq will benefit from this.
I will use the rate of $1.00 (one dollar) as an example to explain this….remember that rate is only an example.
Example:
1. Lets say the Iraqi Dinar revalues at a rate of $1.
2. Everyone goes to the bank and exchanges their dinar and opens accounts and the banks are flush with
thousands of brand new multi-millionaires.
3. The bank then turns over all of the exchanged Iraqi Dinar to the U.S. Treasury who gives the banks a higher commercial rate.
As an example I will say the U.S. Treasury gives the banks $1.50 for every IQD so the banks now have
just made .50 pure profit from every single dinar exchanged with the U.S. Treasury.
4. As soon as the U.S. Treasury has possession of the Iraqi Dinar it is instantly listed on the books at
the higher \”government rate\” of $3.86 so the U.S. Government and all the governments of the world will
make more than 100% pure profit instantly!
Also all of the existing Iraqi Dinar that is held by the governments at the time of the revaluation will make the bottom lines of all the nations soar!
So just as your financial bottom line will change from the RV so will the US Government\’s as well as other governments world wide!
So YOU make money…the BANKS make money….AND the US Government makes money!
Now…as most know…it has been arranged by the IMF and the ICI that the Iraqi Dinar held by the nations
only be returned to to Iraqi in a very controlled manner.
Now this had been set up before hand by the ICI and IMF but as many may know this just became an serious issue
when China threatened to do otherwise and that would have been a very destabilizing act upon Iraq\’s economy.
So deals have been struck to prevent this from happening and the assurances from the nations who hold
Iraqi Dinar had to be solidified to insure that the return of the Iraqi Dinar to Iraq by the nations who hold IQD would
be done so in a very metered and controlled fashion.
This info about the \”China situation\” as most know has been provided by the team at DV and if you want those
details contact a DV or DS member for the details.
So how does Iraq benefit from all of this you ask?
Well besides the obvious positive points that the revaluation will bring to the Iraqi people and government there
are also hidden aspects to this \”two tier rate\” that help Iraq.
First I would like to point out that Iraq is a nation…a nation who has as its primary products and exports oil and natural gas.
Iraq is NOT in the currency exchange business.
When the Iraqi Dinars that are held by the U.S. Treasury and other governments return to Iraq they will be used
to buy oil and natural gas…..so there is no exchange of currency.
AND the benefit to the US and the other nations is that this high government to government rate will in essence enable
the US Government to buy Iraqi oil at a great pre set discount!
That is because the Iraqi Dinar that will be used by our government to purchase oil and gas from Iraq will have been secured from the banks for less than half the value!
ALSO! What this has done for Iraq by doing this is in this manner is Iraq now has GUARANTEED customers for all of it Oil and Gas!
So all of the governments who will soon be holding all of these Iraqi Dinars have a very real incentive to hold on to all of the IQD they can get…for in doing so they are assured of the discounted purchase of oil and natural gas in the future.
So EVERYONE benefits!
YOU become rich!
The Banks become flush with brand new millionaires!
The US economy soars!
The banks make BILLIONS from the exchange to the US Treasury.
The US Treasury makes TRILLIONS of dollars instantly!
The US Government is guaranteed decades of discounted oil and natural gas products by the use of the Iraqi dinar to purchase oil from Iraq.
The nation of Iraq is guaranteed customers for their oil for decades!
This is a classic win win situation.
And that is how this works to the benefit of all…you…the banks…the US Government and the nation of Iraq.
Got it?
So we have collaborating intel and great news.
All looks great and I expect this to happen at anytime.
Date and rate classified.
Hope for the best.
Best of luck to all.
Phoenix
This statement is created by someone else in a blog in September 2009, not by me but please rethink carefully:
Ok…so here we are.
There is a large amount of intel and supporting news that has been gathered and shared on the chats, postings and e-mails from various forums.
All of this points to a revaluation of the Iraqi Dinar and other currencies to happen soon.
This is an event that has been in the works for many decades and is being coordinated on a global level as we all know and the supporting data of same is easy to find on most forums or by the simple use of a standard Internet search engine.
I will use this brief e-mail to summarize and clarify the current situation as it relates to currently available intel, info and data as cross referenced with intel we had received in the spring of this year as a base reference.
I will be doing this because it has become evident to those who were made aware of this information earlier this year by a former contact who had shared information with us that we now seem to be seeing this information being replicated and verified by other research teams working independently.
Recap from spring of this year:
1. We were told there will be two rates.
One rate is to be a higher rate that will not be seen by the public and will only be used as a government to government rate.
This higher government rate had been set up by the IMF and World Bank as a means of settlement of outstanding international issues between Iraq and the debtor nations.
This was being done as part of the International Compact with Iraq. The I.C.I. This higher government \\\”book\\\” rate was to never be seen by the public and will never be used outside of its
specific parameters of use as per designated by the IMF, the World Bank and the International Compact with Iraq.
The higher non-public government rate we were told at that time was planned to be $3.86 The second rate we were told is the lower \\\”public\\\” rate. This rate we were told would be higher than a Dollar, lower than the Pound and at or near the Euro.
The current rate of the Euro is $1.47
2. We were told there would be a limited time to exchange the Iraqi Dinar.
We were told that this time which will be made known some time after the rate change would be no longer than 45 days.
Now….here is where I would like to give some clarity to some of the current information we have been hearing.
There was word that the U.S. Treasury would be taking something \\\”off of the top\\\” of the Iraqi Dinar exchange.
Well that is some what true…but how that will happen is (as we were told in the spring) by the existence of the two
separate rates….the higher government rate and the lower public rate. So YES the US Treasury will get more…..but not in the way most have feared.
They (the US Treasury) will receive more by the use of the higher government rate….not by taking anything from you,
but by ADDING to the book value of the Iraqi Dinar as prearranged by the ICI, IMF and WTO.
So nothing will be taken from you!
BUT value will be ADDED to the Iraqi Dinar when the U.S. Treasury and the governments of the world take possession of the IQD from the banks.
So nothing is taken off of the top. BUT The value of the Dinar is MORE when used by authorized governments.
Now as an example this is how this will work and how everyone including Iraq will benefit from this.
I will use the rate of $1.00 (one dollar) as an example to explain this….remember that rate is only an example.
Example:
1. Lets say the Iraqi Dinar revalues at a rate of $1.
2. Everyone goes to the bank and exchanges their dinar and opens accounts and the banks are flush with
thousands of brand new multi-millionaires.
3. The bank then turns over all of the exchanged Iraqi Dinar to the U.S. Treasury who gives the banks a higher commercial rate.
As an example I will say the U.S. Treasury gives the banks $1.50 for every IQD so the banks now have
just made .50 pure profit from every single dinar exchanged with the U.S. Treasury.
4. As soon as the U.S. Treasury has possession of the Iraqi Dinar it is instantly listed on the books at
the higher \\\”government rate\\\” of $3.86 so the U.S. Government and all the governments of the world will
make more than 100% pure profit instantly!
Also all of the existing Iraqi Dinar that is held by the governments at the time of the revaluation will make the bottom lines of all the nations soar!
So just as your financial bottom line will change from the RV so will the US Government\\\’s as well as other governments world wide!
So YOU make money…the BANKS make money….AND the US Government makes money!
Now…as most know…it has been arranged by the IMF and the ICI that the Iraqi Dinar held by the nations
only be returned to to Iraqi in a very controlled manner.
Now this had been set up before hand by the ICI and IMF but as many may know this just became an serious issue
when China threatened to do otherwise and that would have been a very destabilizing act upon Iraq\\\’s economy.
So deals have been struck to prevent this from happening and the assurances from the nations who hold
Iraqi Dinar had to be solidified to insure that the return of the Iraqi Dinar to Iraq by the nations who hold IQD would
be done so in a very metered and controlled fashion.
This info about the \\\”China situation\\\” as most know has been provided by the team at DV and if you want those
details contact a DV or DS member for the details.
So how does Iraq benefit from all of this you ask?
Well besides the obvious positive points that the revaluation will bring to the Iraqi people and government there
are also hidden aspects to this \\\”two tier rate\\\” that help Iraq.
First I would like to point out that Iraq is a nation…a nation who has as its primary products and exports oil and natural gas.
Iraq is NOT in the currency exchange business.
When the Iraqi Dinars that are held by the U.S. Treasury and other governments return to Iraq they will be used
to buy oil and natural gas…..so there is no exchange of currency.
AND the benefit to the US and the other nations is that this high government to government rate will in essence enable
the US Government to buy Iraqi oil at a great pre set discount!
That is because the Iraqi Dinar that will be used by our government to purchase oil and gas from Iraq will have been secured from the banks for less than half the value!
ALSO! What this has done for Iraq by doing this is in this manner is Iraq now has GUARANTEED customers for all of it Oil and Gas!
So all of the governments who will soon be holding all of these Iraqi Dinars have a very real incentive to hold on to all of the IQD they can get…for in doing so they are assured of the discounted purchase of oil and natural gas in the future.
So EVERYONE benefits!
YOU become rich!
The Banks become flush with brand new millionaires!
The US economy soars!
The banks make BILLIONS from the exchange to the US Treasury.
The US Treasury makes TRILLIONS of dollars instantly!
The US Government is guaranteed decades of discounted oil and natural gas products by the use of the Iraqi dinar to purchase oil from Iraq.
The nation of Iraq is guaranteed customers for their oil for decades!
This is a classic win win situation.
And that is how this works to the benefit of all…you…the banks…the US Government and the nation of Iraq.
Got it?
So we have collaborating intel and great news.
All looks great and I expect this to happen at anytime.
Date and rate classified.
Hope for the best.
Best of luck to all.
Phoenix
It seems like this revaluation is always just around the next corner… sound familiar? This thing is a scam folks, sorry
i got all the time in the world, a couple of thousand forgotten in the house safe for five years to turn into a couple of million, not a bad gaamble. I have lost more then a couple of thousand on one bad roll on the crap table…. just sit on it…. wwho knows
I emailed to President Barack Obama on Thursday 22 of October 2009, as follows:
Just look at China’s currency rate since the day it was revalued after communism was fading away. Why is her currency rate still remaining very low despite it is still rising slowly? Their cheap labour to worldwide’s markets is killing numerous businesses in the west by creating more redundancies, every year. One of the giants called Maersk in the shipping business is heading towards hell. Why? Could China’s cheap offers spoil the markets of the west? Of course! If the currency rate of Iraqi Dinars is not revalued asap, Iraq will be the next “China” to kill the world economy of the west within a few years’ time due to cheap labour as well. Is not “Once beaten twice shy” sufficient to feel the pain of repeated economic downturn particularly in the west? Truly, “An ounce of prevention is worth more than a pound of cure” should be a good advice to “Procrastinators”. Please be forewarned that Iraqis are shrewd, if not a cunning fox like the many Chinese in China.
Please revalue Iraqi Dinars asap, Mr President!
The Dinar scam is taking place right now in New Orleans, La. What a shame, maybe I should spell that, What a Sham. Oh well, with all the information about this “scam” reporting that is all it is one wonders why people still get involved. Thirty years ago when I was taken by scams like this, we didn’t have the internet to Google “Dinar Scam” and learn so much. We flew by the seat of our pants and lost our a__.
To: James in Phoenix(?)
First: Where did you get your banking degree? Seriously(?)
Second: The U.S. or China or anything other “country” in the world holds Iraq Dinars. Wake up. The Irag Dinar is not traded because it has no value outside of Iraq. Value only exists between a seller and buyer. You are the buyer, to whom will you sell? You can’t sell them. Nobody will buy them!!!
Three: Where did you open your trade account to buy you Dinars? You didn’t. You bought them from somone claiming to be a registered dealer and they probably are but that does not make them legitimate. They may be sell real dinar. It might be valuable in Iraq but you can’t sell them here. You’re lucky if you can give them away. It will always be tomorrow. Tomorrow. Tomorrow. Didn’t they tell you that years ago? Read the articles and e-mail and notice the dates. This has been going on for years. Its a scam.
It is really funny reading the wisdom of fools parting with their money. Read the guidance of the BBB. The sellers of the dinar are making all kinds of money off this deal. Show me one, just one buyer that ever made a penny? Everyone that ever bought this is still holding.
Hey CMW: $100.00 to burn by every adult American would come to something around 20 Trillion dollars traded and earned by the sellers. Again, show me one buyback buyer. Show me one person that make a penny off this scam that wasn’t selling dinars.
Now hers’s a great idea. You send me $10.00 and I’ll send you back $500.00 dollars. All you have to do is slap down $10.00 and I’ll send you back $500.00. If I don’t send you back $500.00 its not big deal because you only spent $10.00. But if I do send you back $500.00 then you have a huge return.
See, if I get 30 million people to send me $10.00 I get rich and I don’t have anything at risk. That’s the dinar scam.
my last post.
Has anyone stopped to think that maybe the reason behind the Dinar being so devalued is because of the sanctions against the country due to its invasion of Kuwait in the early 90s?
They are pumping more oil out of the ground now than at any time during Saddam’s regime, their entire country has been rebuilt with US money and the only thing that needs to happen is for the sanctions to be lifted so that the Dinar can be traded on the open market.
btw – No LEADER of a country sets the value of that country’s currency…with the exception of what the exchange rate will be in THAT country. Historically, on the currency exchanges, the Dinar as traded between $2.80 and $4.25 USD.
Besides, it is a risk/return…I’ve put a weeks worth of pay up against the possible return of a lifetimes worth of income. Google, Mickey Ds, Microshaft, Amazon.com all come to mind…and the fact that this happened before…with Iraqi currency…in the 70s.
So what’s going to happen if the Dinar is revalued with *new* Dinar?
IS the revalue possible? YES. Is it probable? NO. So spend your money wisely.