posted on Nov, 12 2008 @ 09:46 PM
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.
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.
THIS IS ALL A SCAM