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Originally posted by Cylent773
Hi everyone, stupidity and curiosity got the best of me this past weekend while I was trolling ebay. I came across this acution for information on how to become a BILLIONAIRE. Most auctions just list make money fast ploys with quick cash, make millions, or hundreds of thousands, but this on in particular went right for the jugular claiming to make people billionaires.
Ofcourse I caved and spent the $29.95, which is a scam in itself I think. The package was basically an ebook explaining how the Iraqi Dinar at one time was worth $3.30 USD before the 1st Gulf war, and now its current value is in the neighborhood of 1 USD = 1460 IQD. Thats quite a drop.
It further went into how Iraq is sitting on vast oil reserves and as soon as the new elections for the parliment take place and the government is in place and stability comes to pass, that the value will rise dramatically.
Curently, you can buy 1 million IQD for around $800 USD. I caved once again, and bought 200,000 IQD on this past sunday, becuase thats all I currently can afford.
My questions to the ATS community are:
1.) Do you think Iraq will stablaize any time soon?
2.) This obviously is a high risk investment, is it worth the risk?
3.) Has anyone else heard of investing in the Dinar, and if so have you?
4.) What do you think they will "peg" the exchange rate at?
5.) Am I just a loser for even considering investing in this countries currency?
I want to know what you guys think. Thanks for any input on this matter.
My view is that if you want to spend a few bucks to acquire Iraqi dinar as a novelty item or you want to gamble with money you can well afford to lose, that's fine. Enjoy yourself. But you shouldn't even think of making something this iffy a part of your investment portfolio.
Originally posted by crusader
, you should have put that $800 + to better use.
Originally posted by sardion2000
. How much is the "old" Saddam currency? I have a feeling it will be a collectors item 40-50 years after his execution.
Originally posted by Snowman9
Sadam was going to switch to Euros, that would have hurt the dollar.