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Is anyone buying and investing in the new Iraqi Dinar? Is this politically correct to profit from?

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posted on Nov, 15 2004 @ 05:52 PM
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Well I just recently have started buying into the new iraqi currency. The Dinar without saddam on it basically is the new currency. These can now be bought at the amazing price of 1000 Dinar to $1.00 u.s. dollar. Before the first war in iraq and U.N. sanctions 1 iraqi dinar would purchase $3.00 u.s. dollars. I regularly purchase a 25,000 Dinar note for $25.00 on ebay.

The thinking is with the huge potential for iraq given the forgiven debts, huge amounts of money being pumped in and a huge oil reserve the value of the dinar would go back to values close to the dollar or pre gulf war levels. At pre gulf war levels if it ever occured my 25000 dinar I paid $25.00 u.s. dollars for would then be worth an amazing $75,000.00 us dollars.

Even if it never reaches levels that high, say it gets to be 100 per $1.00. My dinar note I paid $25.00 U.S. for would still be worth $2,500.00 dollars.

Even if this takes 10 years it is still worth a shot. Sure they are printing huge amounts of this money and selling it worldwide. But they also have huge oil reserves and a good economic future ahead being a democratic nation in the middle east.

Heres a google search for (Buy Iraqi Dinar)
www.google.com...

It's insane the amount of sales that is going on. 1 million dinar can be purchased for $800.00. Imagine if the came close to the u.s. dollar again!

Now my biggest question is do many of you feel it is politically correct to purchase this money with the intent to profit knowing how many people are dying there?

Or do you feel it is appropriate to invest in iraqi money considering it helps the economy in a sense because it gives the money some credibility if people belive it can become a viable currency and purchase it?



[edit on 15-11-2004 by Hoppinmad1]

[edit on 15-11-2004 by Hoppinmad1]




posted on Nov, 15 2004 @ 06:05 PM
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"I feel it is appropriate to invest in iraqi money considering it helps the economy in a sense because it gives the money some credibility if people belive it can become a viable currency and purchase it?"

obviously I chose the second choice



posted on Nov, 15 2004 @ 07:14 PM
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I'm in real deep.


Supposedly after the January elections it should open on the world market again.
Many are speculating .33 cents US per Dinar upon opening. That is what it was valued at when pulled from world market.
It just recently opened again to the Arab world banks (Jordon, Egypyt, etc.) where it was only before traded in Iraq.

You are not profiting from death, you are investing in a country.

Also makes a nice holiday gift.


I wanted to point out that it would be wise to purchase the 1000 and 5000 notes instead of the 25000
Why? Because when you cash it in at a currency exchange, bank, casino you won't have to deal with the paper work if it is over $10,000 USD

[edit on 15-11-2004 by evecasino]



 
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