Dinar to equal US Dollar 1 to 1!
A recent news blurb (news can come from anywhere these days!) stated that the Ministry of Finance and the Central Bank of Iraq are studying a proposal to raise the value of Iraqi dinar and make it equal to the U.S. dollar and that the new government will have a “qualitative” budget for 2007.
News like this is produced to ‘pump up’ the value of the Iraqi Dinar. Stuff like this is usually released from places that sell Dinar – so think twice before you get excited about such studies, especially if they do not reference exactly where they read such information!
I personally would love to see such an increase in the value of the Dinar, but something tells me that this is just another pipe dream. If such an increase were right around the corner, you would have every major investor jumping on this information!
Use Caution and read carefully!
Posted in Iraqi Dinar
October 31st, 2006 at 4:24 pm
Obviously you have no clue what you are talking about, or at least I hope so. I am one of the people who did buy some dinars, but not too much. Just one question to you. Explain then what happened during Kuwaiti War. During the Kuwait war in 1990s Kuwaiti Dinar was worth 10 cents, now it is $3.40!
November 1st, 2006 at 10:52 am
It is easy to fool yourself into thinking like this, but you are not comparing apples to apples. This is a popular trick Iraqi Dinar dealers use to get people to buy Dinars. People want to believe they will make a ton of money with Iraq currency, and dealers simply provide food for this though process.
I too bought dinars, that was before I did my homework. I, like you, hope that the Iraqi Dinar goes up in value, but unlike you, I do not base my hopes on a situation that is nothing like the one in Iraq.
Don’t fool yourself; Kuwaiti situation is NOT the same as Iraq. If you’re serious about investing in this extremely high risk investment, then do yourself a favor and read the eBook at http://www.iraqidinarebook.com
How much has the Iraqi Dinar gone up in value in the last year? Look at old posts on Iraqi Dinar Forums and you’ll see that more than a year ago, dealers where telling people that it’s going to take off within 30 days. Nothing has changed since then, and I highly doubt anything will change much in the future.
I talked with one e dealer who actually laughed at me for buying Dinar. His site is all about how great the Dinar and even provides news and charts about the Iraq Money (all positive of course) and yet this dinar dealer has no faith in its future at all.
I hope I am wrong, but I have done my homework (too much in fact) and personally, I am not counting on Dinar.
December 6th, 2006 at 1:10 pm
I’m new to this and have been watching what the DInar has been doing. It does appear to be gaining strength, abeit,rather slowly. It’s gone from 1478 to the dollar as of 11-13-06 to 1426 to the dollar as of 12-06-06 alone. But here is the rub – the people that seem to be against investing the Dinar usually have an ebook to sell telling you the pitfalls of investing. And, of course, the guys pushing the “big profits” are the ones selling you the Dinars. It just seems hard to determine who is truthful. Standard, “no-brainer” economics tells you that Iraq can’t go on with the Dinar at this level and that they have to at least get their currency to the levels of the dollar or the Euro at the very least. Plus, once they start cranking out the oil it has to strengthen thier currency. From what I’ve read this situation happened in WWII with the Japanese Yen and the German Deutsch Mark, and again most recently with the Kuwait Dinar. Some smart folks made a lot of money during those times.
December 20th, 2006 at 5:52 pm
I purchased 11,000 Iraqi Dinar. It was extremely cheap, it actually only cost me a couple bucks. I spend about $25 a month on lottery tickets. I am looking at it as a purchase spent in “good fun” I do NOT expect anything to come of my 11K Dinar but it would be a great surprise if the dinar would equal the US dollar. Do NOT buy Iraqi Dinar as a serious investment but maybe as a lottery ticket with a slight chance of making a few bucks.
January 10th, 2007 at 7:44 pm
Greg,
Don’t fall for the WWII examples! They are not the same and should not be calculated into thing the Dinar will equal the Dollar 1 to 1!
Same goes for the Oil, you would think that makes sense and once the oil situation is fixed, Iraq will be more profitable, but again, this is not the case and there are many factors to consider with this!
The right ebook can save you countless hours in research, it’s just finding the right ebook. If an ebook is a scam, if won’t last for long and the site will be shut down and accounts closed due to complaints.
If you’re looking for accurate information on when the Dinar will equal 1 US dollar, then you’ll find a ton of junk. I do not think this is going to happen, but there are plenty of people selling Iraq money that would love you to believe the dinar will equal the dollar.
Whatever you do, do it with caution! The dinar is a ripe playground for the scammers!
January 23rd, 2007 at 1:33 am
Even if the dinah reaches 1 cent there is a good profit to be made.
March 12th, 2007 at 8:26 am
I have 68,500 iraqi dinar!! I’ll take $100 right now!! LOL I slay me!!!
March 15th, 2007 at 5:18 am
I’m actually serving in Iraq as we speak and as far as the currency goes I want to have faith in it but as of right now the iraqi dinar is nothing more than a collectors item its going to take a few years and alot of struggle for the iraq dinar to even be the equivalance of a U.S dollar. I’m not saying it won’t go up but that won’t happen for another 15yrs or so. There is far to much remolding that needs to take place before anyone considers anything concerning money.
April 14th, 2007 at 9:13 pm
I served in Iraq. I have a half a million dinars and since I served the value has been increasing, slowly but increasing. It was over 1600 to 1 when I bought them now they are like 1400 or less to a dollar. So is there progress.
Why wouldn’t the Government make the Iraqi dollar equal ours? They have their hands in it as well. You figure if the People in the government buy one million dinars now at less than 1000 USD then they made a million! Plus the oil that Iraq has will definitely help their economy! So I really think they will stabilize in a few years .give it 5 years or so. You know congress has a piece of the pie as well. They want to make money so whey wouldn’t they get the price to match ours?
After all Kuwait Dinars is 3 to 1? How did their money get to be greater than ours? Think about it. And you don’t think the US is putting up businesses in IRAQ to make money? You bet they are! It’s about capitalism.
Ask an Iraqi soldier if they ate at a popular American fast food restaurant? For those who have been to Iraq and know about these restaurants, I wonder where these ideas came from. Did the Iraqis think of it themselves? Don’t think so! So trust me when I say the dinars will go up. The politicians want some extra bread themselves!
September 21st, 2007 at 8:11 pm
well the iraqi dinar is going up like 1-5 points a week. so those who think its not making profit then why is it going up. well let me tell you . its going up because the economy is getting better. making money is a small thing about it. proll hit the dollar rate at which its going in like 5-10 years
September 21st, 2007 at 11:27 pm
I am a collector,and investor of rare items.Knowledge and insight is my key to making money.For example,I frequent the flea markets,seeking a good find.Youv’e heard the saying,”The eairly bird gets the worm.”Well one saturday I arrived near closing time,thinking,”Why am I here,all the collectors have got all the good stuuf.”But something lead me to a particular booth.Looking through a bunch of costume jewelry,something caught my eyes,a man’s gold ring,that appeared to have about a carat diamond in it.I asked the dealer how much it was,they said .50 cents.It had no marks,but it appeared to be gold to me.After I got home,It passed the 14k test,and the stone passed the diamond test.A jeweler friend gave me $3,700.00 for it.Color D,1.07 ct,vvs diamond.So if you ask me if the Iraqi dinar is a good investment?I would say you can’t loose.One of my brother-in-laws informed me of the Kuwait Dinar at .10,I laughed at him,then he laughed at me on his way to the bank,after it’s gain.He informed me of the Iraqi dinar,you think I laughed at him this time?No! I purchased a lot.Well inside sources told me Bush himself has plenty invested in Iraqi dinars,why do you think he’s in a hurry to pull troops out of Iraq before his term end?I believe the dinar will surpass the US dollar in the next 3 years.The Dinar is at 1,234 per US$ now.Lets all hit the lottery!!! I feel it’s owed to us.
December 20th, 2007 at 7:03 pm
So, where is the best place to buy IraqI dinars?
June 21st, 2008 at 6:47 am
sir ’s
iraq denaer was new 1195 and end oct was 1100 deneer for 1 USD,end of 2008
was 1000 dener for 1 USD
July 9th, 2008 at 11:13 pm
I bought 1/2 million Dinars when it was around 1994: 1 USD…Now its 1193.3 as of today. So, in just a couple of years the dinar has increased in value by nearly 80%. Look at the potential from today’s politics: a) Iraq wants US out of Iraq—meaning, that they want the Dinar to go up by any means possible, b) Most probably the dinar will be somewhat backed by the Euro, increasing its value, d) Iraq just signed 34 oil exploration contracts with some big name companies…all of whom are going to work their little hearts out to get oil out of the ground and get it to the markets…at increasing prices, e) The US has a tendency to “micromanage” a country’s economics to that country’s detriment, and with the US having a lessened role in Iraq’s economy, these Arabs WILL make money, meaning the Dinar will increase in value. I’m betting on the Dinar and buying more as we speak, and lastly f) The other Arab countries, i.e. the Emirates are slobbering at the bit to invest in Iraq, to the point that the UAE just forgave 7 Billion dollars in Iraqi debt. This is outstanding. The US and President Bush should be commended for staying in Iraq, stopping the ridiculous tactics of trying to win the “hearts and minds” of Al Qaeda (which failed miserably in Vietnam) and just simply killing them (in the Surge)…to the point the average Iraqi could move about and do business….I know Bush is being “whacked” by the Left wing and the media, but in 20 years, when it all shakes out…Bush will be perceived as another Truman, highly criticized and even “hated” while in office…but who stayed the course and did what had to be done, which is prevent Islamic terrorists from controlling billions upon billions in oil field profits. One with half a brain cell need only ask themselves…exactly what the Islamic terrorists would to with billions and billions of unlimited oil field profits. So…Thank you President Bush for hanging in there…I know it has been 6 years of shear hell for an unpopular president…but it had to be done.
Diana Wilson PhD
July 20th, 2008 at 7:32 pm
Question is, where are we going to trade them in for USD? I bought about 20,000 dinars as a potential lottery ticket (basically pay off some bills and/or go on vacation if it ever came to pass), but a currency exchange would need to take them first! Also, what would stop the Iraqi government from simply changing its currency slightly to deal with the sudden influx of currency exchange which would take place?
July 28th, 2008 at 9:08 am
I AM INTERESTED IN BUYING THE DINAR. I HAVE A 100-200 TO SPEND AND UNDERSTAND THIS IS SPECTULATIVE. HOWEVER THERE IS A DIFFERENCE BETWEEN SPECULATIVE AND FOOLISH. WHAT SIGHTS CAN I GO TO GET ACCURATE UNBIAS INFORMATION WITHOUT THE FLIM FLAM OF THE SALES PITCH AND SCAM…THANKS
July 28th, 2008 at 5:14 pm
i have bought 4million iraqi diner two years ago and it has allready gone up,im in no rush so if it gets to the same as the us doller then i will be a happy man,the sooner they start selling oil to the rest of the world and then spredding that welth around the country instead of saddam spending it all on himself like he did the better.
August 25th, 2008 at 4:45 pm
will my dinars go up?
September 10th, 2008 at 3:03 pm
It’s so ridiculous how people are just trying to make profit over something they did not contributed to.. its so sad how people are trying to make money without being in combat, its sad how troops get hurt and pass away every day as we speak for the better future of our country but yet you got some ungrateful citizens….My suggestion for the citizens that have not been deployed into combat yet is that instead of talking and investing dinars they should support our troops and at least send them a care package or something as minimum…
LTC G
September 27th, 2008 at 2:17 pm
Where is the best place to buy Iraqi dinars
September 28th, 2008 at 3:18 am
Daily Newspaper published by Gulf Publishing & Printing Co. Doha, Qatar
Latest Update: Sunday, 24 August, 2008, 08:22 AM Doha Time
Iraq central bank takes steps to ‘rebase dinar’
BAGHDAD: The Central Bank of Iraq has taken steps to rebase the Iraqi dinar and issue new banknotes, a senior official at the bank has said.
‘We have reached a conclusion that we should take off three zeroes from the current Iraqi dinar banknotes,’ Mudher Qasim, the bank’s senior advisor, told Dow Jones Newswires in an exclusive interview.
‘The process is progressing and we have taken some steps,’ Qasim said. ‘We will issue a decision in due time.’
Qasim didn’t give a timeframe when that decision would be taken, but said printing new banknotes and fully replacing old notes would take two years from the time the decision is taken.
Iraqi Finance Minister Bayan Jabor said his ministry had suggested to the central bank to take off three zeroes from the current Iraqi dinar banknotes. ‘The Central Bank governor (Sinan Al-Shabibi) has informed me that the bank is in the process of taking that decision,’ Jabor told the state-run Al-Iraqia Satellite Channel this week.
‘The Central Bank of Iraq supports what the finance minister was saying,’ Qasim said.
If the rebase decision is taken, it means a current 25,000 Iraqi dinar banknote will become 25 dinars, for example. When three zeroes are knocked off the Iraqi dinar, a dollar will equal only 1.20 dinars.
Currency rebasings are usually monetarily neutral and are introduced to make commercial calculations and cash dealing easier and cheaper. Turkey knocked six zeroes off its lira currency January 1, 2005, for example. Russia did the same for its currency.
‘In a country like Iraq where cash consists 80% of money dealing, we need smaller bank notes,’ Qasim said, adding that current Iraqi banknotes were difficult to store and need strict security measures when moving money from one place to another.
There are now some 20tn Iraqi dinar banknotes in use in the market, which is a very big amount and if Iraq knocked 3 zeroes it would become 20bn dinars which is a reasonable amount, he said.
Qasim also said one of the reasons for rebasing the Iraqi dinar is because the bank has managed to reduce the country’s high rates of inflation. The inflation rate fell to 14.7% in May this year from a record high of 60% in late 2006.
In July 2004, the now dissolved US civilian authority in Iraq decided to print the current Iraqi banknotes replacing those used to bear the picture of the former Iraqi leader Saddam Hussein. Iraqis then had three months to swap their old dinars with the new ones.
‘This time we aren’t in hurry, if it takes two years to swap the new currency with the old one, then let it so,’ Qasim said.
The current banknotes were printed by Britain’s De La Rue, the world’s biggest commercial printer of bank notes.
Jabor said in November last year that the central bank would rebase the dinar in early 2008. Dow Jones Newswires
with this one,it will make sure u guys that dinar will lop 3 zeros too..i predict it will be done on december 2008 or early 2009.. let’s see what will happen later!!
October 8th, 2008 at 11:44 am
The second largest oil reserve in the world will not be denied by the industrialized world/nations.. Thats the ace in the hole…Plus ,one of the largest natural gas reserves in the world, if not the largest. I believe I’m holding a pair of aces in this game of Dinar and I’m willing to wait it out..Remeber the obvious, 90% of Iraq’s revenue comes from oil, and as we all know the world wide demand will not stop until the wells run dry..Hang in there investers, I have a dream!!
October 17th, 2008 at 2:31 pm
I believe in what your opinion Diana Wilson PHD…..Looking forword to future editorials..Question: If Obama gets in, how in your opinion will he effect if any,our shared expectations?
October 19th, 2008 at 11:42 am
If you looking to make big bucks fast, then you need to buy australien money.It dropped 7 point’s,but for a 5-7 year investment the Dinar will be a sure thing.
Have fun and go det some.
October 25th, 2008 at 6:18 am
I deeply believe in the development and economic growth of IRAQ. In the future they will become one of the the most prosporous nations on earth. They have overcome many hardships and setbacks. For you NOT to invest in Iraqi Dinars would be a missed golden opportunity. I am a numismatist, I deal with coins, preicous metals and world currencies. I monitor world markets daily. I have many investments most of which are in gold, platinum and silver. Which right now are trading at historic lows. Invest in these commodities and double or triple your investment. I currently own 2.55 million Iraqi Dinars and I don’t treat this small investment as a lottery chance. In time the Iraqi Dinar will trade equal to the american dollar. It may not happen as soon as we would like, but rest assurd it will happen. I have one business assoiate who purchased 20 million Iraqi dinars and He does not play the lottery. There will always be negitive people out there that will try to discourage you and step on your dreams. Do not allow it to happen. For myself, investing $2,500 dollars in iraqi dinars is a small price to pay to dream of having a better life one day for me and my family. Investing in Dinars is about hopes and dreams of a better life for many of us investing in Iraq’s future. Keep your dreams alive!
November 5th, 2008 at 4:11 pm
I’ve returned from Iraq after 3.5 years as a contractor over there!! Can we not see the history of this money since it was printed?? It’s almost doubled in 4 years!! That is a fact!! I’ve already made money off mine and I have no reason to believe the growth will stop.
To the one called “LTC G”, forgive me,..but,..I’ve served in war as a soldier and as a civilian. I’ve experienced my share of sniper fire and mortar rounds. I’ve even helped a few soldiers with ideas as to how to get IQD for themselves as we drank “MY” coffee!! Care packages are very thoughtful and welcomed in the early stages of a war,but, as our PX’s go up, these care packages provide very little in value to the soldier. If we all want to give something to our soldiers,consider IQD!! If nothing else,they at least have a conversation Item. Then again, if the growth continues, maybe in 10 years you will have given them a real,”care package”!!
And,..Mr./Mrs. Denar,..I respectfully disagree with your views on the historical significance of Kuwait and other countries. Although, I do agree with you about the many who have and will try to take advantage of others in some scams.
However,..Kuwait is wealthy “because” of it’s oil,..therefore,if “oil” is the no#1 export of Iraq,and,if the experts from Shell (and so many others),are even half right in saying that Iraq could produce as much oil as Saudi, Then, what will the IQD do?? The Iraq government has already announced their desire to see production increase to 4.5 mil barrels a day by 2013!! Do we believe oil prices will go down by
that time?? There are many who believe Iraq can eventually produce as much oil as Saudi (ie,..10 Mil barrels/day).
Personally, I believe Iraq will continue with increased production of oil and as the
development of new oil fields get underway, Iraq will meet/or exceed the expectations of the world and become a very wealthy country!! They are well on their way already!! Do a little research on China. 2nd only to the USA for oil consumption.(and growing)!! That’s just one example,…this world seems to need more oil as the days pass and Iraq has it!!!
I wish I had bought Kuwait Dinar when I was over there during the Gulf War!! But, I thought the “nay sayers” sounded intelligent back then. Today I see the obvious and I plan to buy more very soon!!!
November 21st, 2008 at 3:42 pm
Here is the bottom line on the Dinar, I have some of Saddam’s Dinar from when it was 3.22 exchange to the US dollar. It is now worth ZERO. Iraq is not settled, it is still in turmoil and the Government is not proven stable in any way.
Iraq Money could actually change again before the country is in a stable financial situation, and probably will. However, there is that long shot that it will be here to stay and that it could someday be worth what the dollar is worth.
The problem is, the US dollar could also go south and be worth nothing someday….
I say, sure, if you have the extra money, go for it. If you don’t, don’t go for it because it is like playing the lotto and playing the lotto is not considered an “investment”
The odds are definately against you. But there is that chance…hopefully for you, someday you will say, thank god I got into Dinar when I did, I wouldn’t be rich now if I hadn’t.
November 21st, 2008 at 3:45 pm
What I forgot to say was this, if you use it an investment, fine, but don’t bet your children’s future on the success of the Dinar.
November 22nd, 2008 at 4:24 pm
As a well respected member of the military with numerous citations that you wouldn’t even understand, let me say that I am repulsed by your blind greed and money grubbing behavior with the Iraqi Dinar. Maybe if you had to constantly deal with the heat and threats you wouldn’t be so cluelessly happy about Iraq. Have you ever met an Iraqi? If there’s an honest Iraqi out there I haven’t met him. The ones I know would steal your shoes before you’re even dead. Those shifty guys will never succeed without a strict ruler (Sadam) to keep them in line. Did you ever wonder WHY Sadam had to be so ruthless?
Stop worrying about yourself for a moment. To think that I was fighting for people like you…………..
November 25th, 2008 at 5:36 pm
I’m in Iraq right now if god willing i go home next month. I do hope the dinar goes up i have bought a million to take home with the hope that they go up but it was with money that i want miss if they don’t we all have dreams but we also have bills so i say if you have some money you don’t need or can do with out it may pay off in the long run, after all, you’re going to need it later to pay for all the tax dollars that the us pored into Iraq.
I could retire on the money being wasted over here! Our army can do anything but we are paying k.b.r to do it, why? Who is getting the 30 dollars a meal they charge or the money they get payed to drive trucks? We have 88m that can drive the truck why are our tax dollars being wasted for people that have killed us troops? Why are we not taking the oil to pay for this war like bush said?
November 26th, 2008 at 1:10 pm
If you wanna spend a few hundred dollars on a pipe dream, then go ahead. At least its a scam that only costs people what they would spend on a night or two out. You may be able to double your money in about 10-15 years, when the dinar hits about $2.00 per 1 USD, but to become a millioinaire off a $1000 investment, I must laugh at. Once Iraq revalues the Dinar by lopping the currency(removing 3 zeros) which is how the revaluation will happen, your $1000 investment will be worth $1000. So to make $1000 investment the dinar would have to reach $2.00. There are tons of other ways to make $1000 over a 10 year period( which is how long it will take if it even hits $2.00). The only people profiting big from the dinar are the ones selling them and the bogus pipe dream.
November 29th, 2008 at 9:14 am
Go to your local bank. I bought 100000 Dinar and hopefully it will help my 6 year old attend a good college.
December 18th, 2008 at 7:58 pm
We cannot argue at this time. It’s either make or break! Only TIME will tell.
December 18th, 2008 at 9:55 pm
It’s all about fundamentals. I like a multibillion dollar budget surplus, and dislike adding trillions toward a deficit. I don’t see a 30%+ decline here like I do the DOW.
December 27th, 2008 at 3:01 pm
Ok, I’m not a genius, but I do hold an MBA and have been in the business world for over 20 years. I’ve started some businesses and made decent money, I’ve started others and lost money. I’ve only recently been pulled into the Dinar syndrome, and I have to side with the naysayers on this one. I know people who’ve invested in it and I hope it makes a good investment for them…kind of like I hope my parents win the lottery next time they buy a ticket. I can see all the good it can do for them. But a 1000 to 1 exchange or better? Give me a break. Who’s going to pay all this out when there’s a mad rush to the bank for everyone to cash in on this windfall? And are millions of Iraqis going to wake up one morning wealthier than most U.S. citizens? Maybe someone can enlighten me on this, but in my brain, it doesn’t compute.
I see some good points being made about it being a possible long term investment, but I think it needs to be viewed as exactly that–a long term possibility of growth. If you approach it in this way, you won’t set yourself up for disappointment or bank your children’s future on it.
Lobbing 3 zeros off makes sense to me. Thank you, Vin, for sharing that article with us! It makes more sense than anything else I’ve read thus far. If I were a betting man, I’d put my money on that one.
January 6th, 2009 at 9:14 pm
Don’t buy unless you got money to spare, it might go up and you’ll get money back for it but if by chance it doesnt at least you didnt go broke buying them… I bought some and like others only hope to see what happens…
January 9th, 2009 at 10:28 pm
Its easy to fall for the hype, I mean all of you want to become instant millionaires overnight, but down here on planet earth you guys keep on dreaming.
The problem I see here is that average Iraq month salary right now is about $600 a month! 500,000 dinars! The average home in Baghdad right now costs about $80,000 USD about 143 million dinars! People over there have this sort of money on them in their pockets, so what would that make them?
Do you really believe the average Iraqi is going to turn into billionaires in 5, 10, 20 or even 50 years?? I think not!
…. make up your minds
January 18th, 2009 at 8:04 pm
Does anyone know of any banks located in the midwest that has dinar.
January 31st, 2009 at 12:36 am
wait and see after iraq has there little election
February 1st, 2009 at 7:58 am
I think the Dinar will go up in the near future,why would US banks like Chase and JP Morgan be crying broke in the US and have money to invest or open new banks in Iraq,I think this is all political,the dinar was supposed to rise before bush leave the White House that would certainly keep his party in power with every one who knew and bought the Dinar,if all our banks invested in Dinar and it went 1-1 America would not be in the red zone right now,think about it.
February 5th, 2009 at 2:43 pm
Iraq is scheduled to produce 6 million barrels of oil per day in five years, they currently produce close to 2 million per day. My calculations show that number to be (6,000,000 x 365 days x $40 per barrel of oil) = $87,600,000,000. That’s 87 Billion US Dollars Gross per year by oil alone!!! Do not under estimate the amount of private business that will flow into Iraq once they pass their Hydrocarbon Laws. I do not expect a major RV, but I so expect slow grow profits that will out perform practically everything. How can anyone honestly argue against this as a good investment seeing the fundamentals that are in place? Oh, by the way, Iraq had a 79 Billion dollar budget surplus in 2008.
February 9th, 2009 at 11:24 am
I find it funny some people’s math skills on here. “Not a sucker” said that for a $1,000 usd investment, that you would only get back your $1,000 if the Iraqi Dinar equaled the US dollar? Really? Wow! Lets check your math shall we? $1,000 us dollars would buy you roughly 1.15 million Dinar. If the Dinar were to equal the US dollar, then you would walk away with 1.15 million US dollars (before taxes and exchange rate) So how is that not a good investment? If it equaled $2.00 to the US dollar you would walk away with 2.3 million dollars. You don’t know what you are talking about. It may be a long shot but the reward far surpasses the risk by far!!!!
February 16th, 2009 at 8:24 pm
The dinar will go up in value, it will take the world out of recession. Why are all the companies in the world investing in iraq . Why are all the banks in the world investing in iraq dinar. For a huge return on investment, that few believe that it will happen…If everyone bought the dinar in the world, there would be no workers to take care of us at any given restaurants, airports,hospitals, you get my drift. Keep buying iraq dinar, it will change your status in life, believe me. SAI RAM…..
February 19th, 2009 at 5:32 am
I got my 2.5 million Dinar back in 2004. I am still service proudly in Iraq as a contract worker. I hope every one here knows that the Iraqi Government will take away three zeros on your dinar. Everyone will have six months to cash in your money for the new notes. One smart move I made was when I opened my bank account in Iraq. They will change the money for you and also provide you with a debit card. For all of you setting in the U.S. on your dinar, it will soon be only paper. Every 1,000 dinar you have will only be worth 1 dinar. Good luck everyone.
February 19th, 2009 at 11:04 am
whats a MBA got to do with knowing what the dinar will do ……look at the mBA’S in wall street ….what did that block of educated s…….. do for us ?
February 26th, 2009 at 8:36 pm
First off you guys are hilarious..Arguing about something that hasn’t even happened yet..Well I do have to say oil=money..I think its a good long term investment..I am buying here and there nothing to get me broke..I have to say this is very addictive..Honestly you guys it does make sense..This whole war thing was ALL about money and oil..Not Bin Laden, sep. 11th…It was a big set up so Bush would have a reason to invade the land..Whats strange is that people think Muslims are terrorists and blah blah blah..Whats strange is their countries have lots of money and oil..Allah does bless the Muslim land!!
March 1st, 2009 at 3:28 am
Dear Friends,
Please tell me about Iraqi Dinar is good in future investment and what about price in future, and further Iranian Rial is good investment or not.
Thanks
Ashraf
March 1st, 2009 at 8:54 am
When do you think all this terrorist activities in Iraq will end, only then the value will increase unless nope.
March 3rd, 2009 at 3:19 am
I spent three years in Iraq and bought 13,000,000, dinars in 25.000 notes. and got them home. So that makes me a idiot with a bunch of funny money to mach the fool I”am right.
March 3rd, 2009 at 2:40 pm
This was very fun to read. LTC G was really funny. Its not that serious. I say if you have some extra change laying around the risk is worth the possible reward. Don’t put your life savings into it, but you would hate to be a nay sayer 5 years from now if the value does go up. LTC G calm down, im sure your not the only person who has served, I bet you have some Dinar in your closet just in case.
March 4th, 2009 at 6:58 am
I work in Kuwait at the moment. I purhased 3 million worth from a money exchange facility and made sure i recieved a receipt. My hopes are that it will go up. I would kick my self in the ass if i infact had the chance to buy it and did not and it did infact go up.
March 10th, 2009 at 8:01 am
The point you are all missing is that the Iraq Dinar was a strong currency before the war and the Iraq people already had their Dinars which were worth a Good exchange rate against the Dollar. They are entitled to get that rate back concidering the war was a farce only instigated to remove Saddam.
I for one have brought dinars in the expectation that they will revalue before the troops are all out in 2010 and also all the sanctions will be lifted shortly. They will remove 3 zeros from the notes as already stated in September 2008 by the Central Bank of Iraq it will take 2 years to reprint ready for the change over. If this happens at today’s rate the Dinar will be worth 1.2 Dollars to the Dinar.
The Iraq people have been more intent on buying dollars not stock piling dinars as they have seen first hand their Dinar destroyed by the West.
It is time for the West to support Iraq and help restore the Dinar to its original value so all you doubting Thomas’s out there keep thinking what you want the Dinar investors will be laughing all the way to the bank while you sit at home crying in your coffee about what could have been.
My dinars are in an account in Iraq gaining 6% Interest a year, I’ve already made over 30000 dinars interest and any change in revaluation will be automatically done by the bank ( Warka ) so no worries trying to get my cash exchanged, to all investors this is the way forward. Final comment look at Germany, Italy, Japan, Kuwait ETC ETC then tell us they wont revalue.
BEST OF LUCK ITS ALL HAPPENING AS WE SPEAK
March 11th, 2009 at 1:43 am
Just for some information. I served in the Iraq war during 2003 and 2004. I have bought 1.5 million Iraq Dinar, its an investment on the Iraq OIL nothing more. Its the same as buying stock in Iraq OIL if it sells more the Dinar goes up if they don’t sell the Dinar goes down the same as a stock nothing has changed. The IQD is nothing more than stocks. Make your own decision and go from there. Have fun and good hunting.
March 20th, 2009 at 5:47 am
Diana Wilson “PhD”
That was by far the worst statement ever written, and I find myself surprised you felt compelled enough to write PhD after your name. I also think whatever institution that gave you a PhD should be shutdown, or at least put on notice.
No, It’s not hitting a $1.
March 21st, 2009 at 11:43 am
Jo Cage, you are simply stating your opinion, not actual facts. Removing the zeros will have no effect on the value of their currency and would cause an expensive reprint. I doubt Iraq would make that move unless they tied in their cash reserves or oil revenues to boost the value of the dinar. Simply changing 35 trillion dinar into 35 billion dinar doesn’t stimulate their economy. Leveraging their future to join the gulf countries currency does. Also, it only takes 3-5 days to open an online bank account in Iraq, you can Fedex all your dinar overnight for $50 and then wire the funds back to the US or simply earn 7% in a savings account or 10% in a CD…the future of the dinar is bright, but the future of the ISX looks even brighter.
April 13th, 2009 at 11:57 pm
Well, the Iraqi Dinar has been off the market since mid December �08. It�s now mid April and the revalued Dinar is expected to be released by the end of the month in current form. We shall see. $$$$
April 23rd, 2009 at 8:59 pm
Currency investing is a macro approach. You must understand what drives currency strength and what does not. Simply put, it does not matter the amount each person has or how many billionaires there are. There currency power comes from decreasing their debts, increasing their international presence, increasing their exports (what ever that may be), increasing their imports, and finally decreasing their inflation problem. If they can manage these problems and bring about change you can and will wake up one day in the near future having the value of the dinar at 1 to 1 with the U.S dollar or higher.
April 28th, 2009 at 11:20 am
Any word on whats happening? I heard April 30th is the day.
May 5th, 2009 at 9:17 pm
I don’t understand the whole 3 Zero’s deal. How much money do I lose if I have 2.5 mill in dinar and the value is 1 to 1 with us dollars and I’m in the US.
May 13th, 2009 at 2:41 pm
i bought 35million dinars for peanuts. it may be a pipe dream but investing a few thousand dollars in a dream is worth it.if it can happen in afghanistan, my investment is in 12% of the world ’s oil
May 16th, 2009 at 9:25 am
Well just so every one here knows I have also done my homework on this and I bought danir knowing it would take a long time and knowing so I bought 10,000,000 Iraqi dinar for my kids kids bc at the rate this country is going by the time my kids have kids who knows there dollar will probably be more then our dollar
May 17th, 2009 at 9:00 pm
So all these interesting comments, what is going on now with the recession in the world, the change of command in the Middle East. Does anyone out there think that the Dinar will go up in value?
Thanks for your input.
May 23rd, 2009 at 8:02 am
What bank did you go to in iraq?
June 2nd, 2009 at 9:28 am
does anyone have a time frame when the dinar will go on the world currency exchange.
June 2nd, 2009 at 6:59 pm
Jo cage what do you mean when you said they will take away 3 0s
June 4th, 2009 at 3:22 pm
What US banks will exchange Iraq Dinar for US dollar when its value goes up 1000 times in value, or do I have to go to Iraq to exchange my Dinars for Dollars, does anyone know?
June 13th, 2009 at 11:48 pm
It seems there are a lot of people talking about the Dinar during the kuwaitt war and how it has jumped to 3.40 dollars for one dinar. I dont think a lot of people realize how much time has passed by since then. And also in Kuwaitt they had a government readily available to return to power. Where as in Iraq the government is new. also the Kuwaitt dinar did not change as did the Iraqi dinar.
June 21st, 2009 at 8:00 pm
I, myself has been holding couples of hundred thousand IQD . For me, buying IQD is a gamble, just like you buy some lottery tickets. Whether our hope will proven right or wrong, we’ll know it as the time passes by. Don’t listen to the naysayer, buy some dinar in small denominations from some trusted dealer, but don’t spend all of your money on that. Try investing on two or three other things. Act quickly as you know the re-valuation has been taken place. God blesses us
July 11th, 2009 at 3:29 pm
i hope the dinar grow to 1 to 1 usd that would my dream to retire.
Eddie Spicer
July 13th, 2009 at 2:24 pm
Just ordered 750,000 dinar to receive tomorrow. Any current info.? To be honest I don’t know who or what to trust anymore. Hope I did the right thing.
July 28th, 2009 at 8:00 am
I have bought a fair bundle of Dinar having worked in iraq for the last 6 years. I have seen at first hand the progress and remember in fine detail when the currency was changed to its present look. The water marks, foil inserts, paper used etc all above what the previous currency was, even down to the pictures, symbals placed on the currency was what the Iraqi people wanted, horses, temples etc. Also when thousands of people risked there lives daily, with sacks of old Saddam currency to change it for the new/present stuff was a huge feet itself. that period cost millions and millions to control. they will not change there currency again, it is too much hassle. Iraq now has the printing plates supplied by the British and American mints. Business is flowing into Iraq at high speed now, the changes are coming into the country thick and fast, watch this space and watch it grow.
August 25th, 2009 at 10:25 pm
I have just bought some Dinar. I don’t know about it ever getting to be 1-1 equal with the dollar. I would love that if it happened. I would be glad if the Dinar would get to 10 cents on the dollar. I would still make money. If I can retire that would be great. I just want to make some money. Knowing how the governments are so highly invested in making Iraq a success, I think the idea of making money is a no-brainier.
September 4th, 2009 at 11:54 pm
tues were cashing in!
September 7th, 2009 at 2:23 pm
One thing most of you guys are not talking about, our previous administration who got us into this war are you trying to tell me that none of them got some of the dinar stash away some where I would find that hardf to beleive. I beleived the iraqi dinar will go up how much i don’t know but some body does.
September 8th, 2009 at 3:32 am
The lopping of the 3 zeros will simply cause the CBI to have to exchange at the new value. This will not cause cause a RV.
September 15th, 2009 at 6:38 pm
with all this confusion it is safe to say that the purchase of dinar is a good investment. im not going to compair it to WWII or even KUWAIT, it is a completly different situation than those. there is one thing that you can bet on though…..the US has been over there for 8 years ripping the heart out of Iraq. i know personally the Marines are over their right now kicking in doors and knocking down what ever is in their way. with that being said the US will not and can not leave the country like that. we are helping boost their economy by offering jobs, providing cities with electricity for buisness to run and many other small things that will add up in the next few years that most people dont even know about here in the states. as far as the iraqi dinar going 1 for 1 with the US, i dont think thats ever going to happen. but i can say that it has a much better chance of going .50 to 1 by 2015. which is still a very good investment. thanks for your time. out.
September 22nd, 2009 at 12:52 am
{“LTC G said:
November 22nd, 2008 at 4:24 pm
As a well respected member of the military with numerous citations that you wouldn’t even understand, let me say that I am repulsed by your blind greed and money grubbing behavior with the Iraqi Dinar. Maybe if you had to constantly deal with the heat and threats you wouldn’t be so cluelessly happy about Iraq. Have you ever met an Iraqi? If there’s an honest Iraqi out there I haven’t met him. The ones I know would steal your shoes before you’re even dead. Those shifty guys will never succeed without a strict ruler (Sadam) to keep them in line. Did you ever wonder WHY Sadam had to be so ruthless?
Stop worrying about yourself for a moment. To think that I was fighting for people like you…………..”}
(My Response)
I’m back in Iraq and I just saw your angry response to my post. I do appologise to you, as I meant no disrespect toward you or anyone else.
Respectfully sir, I would understand those citations due to my own military service! As far as my,”blind greed and money grubbing behavior”, I’m guilty as charged, I suppose! However, not in the context that’s suggested here! With all due respect sir, I was not trying to imply that care packages were of no value. I was trying to suggest that we recognize the opportunity and give something of real value to the soldier! And, sir, I have and still do deal with the heat and the threats! Although, the threats have decreased dramatically since the beginning, the heat has not!
And sir,. if I may,.. I have met and even work with Iraqi’s. You’re right, many will steal and lie and cheat, but, how is that different than any other human being that’s desperate and destitute? Sir,. someday I believe you will see Iraqi’s as just human beings and not as the enemy! It will take time, but, when that day comes, you will realize that you fought for much more than “people like me”! These people will have plenty of food to eat and nice cloths and be able to obtain an education because of the efforts of men just like you!!
Currently, I work as a contractor here in Iraq! I send money to my father to assist him with his rent and sometimes his electric bill. I send money to my sister for a new furnace, my other sister recieved a (used) car for work. I allow myself $300 per month for personal expenses and put a little away for vacations 2ce each year! But my most important aid goes to the Philippines! I’ve built a house there for three families and send money evey month! For three years now, I’ve financed their food, cloths and housing and education for the children! (no, I’m not married to anyone)! I send money to another family (different Island) as well! Many of these children work in dumpsites and try to earn around $1 per day for food. If they don’t eat, they just go to sleep and try again the next day. They get headaches and other illnesses regularly as a result! They can’t afford school and they are needed to help in the dumpsite! Many here in Iraq are in a similar situation. From my own experience in the Philippines, the stealing and lying does go away as their needs are met and they feel safe again!
I have no house, no car, no savings account over what is needed for my trips to the Philippines! I have a computer and a coffee pot!! I give everything else to those who need it! Today, I may be able to help 16 children,. but, if this Dinar does as I pray it will do, I may be able to help 100, maybe even 1000 children!! I’ve been in contact with 4 organizations that can build houses cheaply and they also assist in the various other needs! I’ve researched DIY plans for “gasifiers” to help them with excessive waste issues. I’ve researched solutions for clean drinking water and electricity needs. The three families that live in the house I built, used to live in a bamboo frame with tin roof and walls! They were known as squatters and scavenger people! Today, the kids are in school and they are accepted as human beings!
I’ve lost friends to sir! And there’s not a day goes by that I don’t think about them. I remember one who showed me pictures of his newborn baby! 4 days later sir!! 4 damn days later!!,… I think about his wife and his baby! I pray for them!
But,. Their sacrifice WILL NOT be in vien!! This country doesn’t need Saddam sir!! And I suspect you spoke out of anger. This country needs just what it is getting now!! Opportunity!! A chance for a good life!! A chance to raise their family in a healthy manor!! American Soldiers offer them that very opportunity right now!!
History will show that Americans are not just a bunch of war mungers,.. but, LIFE BUILDERS!! Sir,. your efforts and your service reach beyond our borders!!
Today the American Soldier is the HERO of America,..Tomorrow, he will be the HERO of the WORLD!! One needs only research the worlds projected energy needs and that alone could cause the death of millions and millions of lives thoughout the world! Without oil, the world starves!
God Bless you sir!! God bless our troops!! And God Bless America!!
September 23rd, 2009 at 10:37 am
Do I think that the IQD will go up in value? Yes. Do I think that Iraqi government will be able to lead it’s people? Yes. In our history they talked about a country that once had to fight and recover loss and rebuild. The time was 1776 and yes it was a young America. Broke, tired, and battle scared. Most of the founding fathers of our government were killed or broke.
Our country made it by had work and showing the world we were not going to be left behind or ruled by another country. Sure the Iraqi people want us to leave. They want to get there home back in order after so much war. Do they like the fact that U.S solders put there lives on the line to help them?
Yes. The Iraqi or just like us. A people that want nothing more than to live in peace and work and raise a family. My war ended in 1973. We were not called hero of America, but something of disappointment by our own country and forgotten. To the Men and Women of this present war, you have my up most and deepest respect one solder can give another.
Will I buy IQD’s? Damn straight.
September 29th, 2009 at 4:42 am
Let me tell you why the Iraqi dinar is going to be substantially revalued. It is that the US Treasury is the second biggest holder of IRD. They have this great stash of colored paper.
If they can pressure the Iraq Central Bank into revaluing upwards by a long way, they will then have a great mountain of dollars in exchange for that pretty paper. Those dollars will pay for the war. So, in effect the war will have cost the USA nothing financially and, who knows, they may even have a few billions left over to pay off the quantitative easing.
October 11th, 2009 at 8:17 pm
‘Chris’…. hi, … you stated: “the US Treasury is the second biggest holder of IRD” do you have proof of this?
Thanks in advance.
October 13th, 2009 at 4:49 pm
I haVE BOUGHT INTO THE DINAR DOLLARS, BUT WHERE DO YOU EXCHANGE THESE AT?
October 16th, 2009 at 3:47 pm
Ive heard rumor of the IMF meeting in the next days to months with a priority topic being the revaluation of the Iraqi Dinar (IQD). Topic would include a two-tier valuation of the currecny, one for the common folk that have them stashed away in shoe boxes and in their nightstands and the second for an exchange rate between governments. It is rumored that the common-folk rate may be based upon a simple $1(USD) to 1(IQD) up to the value of the Euro or even the British Pound. This would be exhanged at banks across the US for that rate. In turn, the banks would exchange it to the Federal Reserve for a mark-up rate (what that would be is TBD). The Fereal Reserve would then exchange it with the government of Iraq for a much higher rate…similar to the beginning of the war…around $3.40ish(USD) per IQD. The exchange would not be for dollars but for oil and natural gas credits giving the governments that are exchanging the IQDs a steep ‘discount’ for future oil/natural gas. We shall see.
October 17th, 2009 at 8:33 am
I couldn’t do alone, we all must quickly convey the message to the opposition parties of Iraq that if they want to win more votes from the people of Iraq somewhere in early 2010 to increase their seats in the parliament, they must promise them (by God’s Permission) about the speedier revaluation of Iraqi Dinars at an excellent rate first to enable the poor and the needy Muslims inside Iraq to improve their living standards and assure them of more employment. Iraq government must do it this way without further procrastination against the revaluation of Iraqi Dinars like what PM Maliki like to procrastinate for already some years where many investors of Iraqi Dinars still keep speculating about it till today. Why keep withdrawing money to help their Iraqis without any financial gain in return at all and her debts had kept and will keep piling up without a full stop right there? There must be a way to teach them how to catch fish for their own meal everyday, not just by giving them free fish everyday.
In future, many negative repercussions like the emergence of civil wars, corruption, criminal activities of pirates and bandits, drug syndicates, prostitution and all that you can name them may happen without any control if procrastination keeps on till next generations of Iraqis emerge. Even greater pressures on natural resources will increase as Iraq may face a population explosion in the near future. Because most Muslim families in Iraq would love to have more children suggested by the rule of Sunnah. Is Iraq government prepared for such a contingency? Only revaluation of Iraqi Dinars would enrich all Iraqis asap. By this, the pain of poverty decreases in order to welcome the joy of more future progeny next. If procrastination continues due to corruption caused by unscrupulous governors, ombudsmen and bureaucrats, Iraq’ll suffer!
Does PM Maliki of Iraq himself involve in corruption so much so that the revaluation of Iraqi Dinars has been delayed for some years by now? I personally feel his procrastination is fishy to me. The saying Don’t judge the book by its cover is an absolute truth. I don’t trust him at all!
My mentor once told me this: Rather than competition bringing down corruption, corruption is often allowed to prevent competition. Apart from the general moral and ethical arguments about bribery and dishonesty and the effect they can have in undermining general respect for the rule of law, corruption is generally bad for efficiency. It leads to decisions made by bureaucrats on the basis of what is good for them, not good for the economy. Let us hope PM Maliki of Iraq is not a corrupted person as labelled by the Qu’ran as well. The future leader of the whole world Imam Mahdi is an honest person who will not, I believe, hold up revaluation of Iraqi Dinars like him for whatever reasons to prolong the sufferings of the poorer Iraqis around Iraq.
Continuous corruption in the government can prevent the speed of revaluation plan because some great guys inside might be pocketing more US Dollars for their own benefits, not for their economy. Qu’ran keeps warning us about the many hidden corruption occurring in the departments of governments everywhere in our space age and I am one of the persons who can see the invisible colours of their true faces. It’s okay to tell you because it’s a blog site here you won’t know who am I. I am gifted by God. Insha-Allah! and Alhamdulillah! You shall see the truth very soon about the hypocrisy of them.
We all, not I alone in this blog site, must convey such message and suggestion asap to the government of Iraq and her opposition parties before the next polling day may occur early 2010. Iraq is a more civilised country right now after the fall of Saddam Hussein and she deserves to get her Iraqi Dinars revalued at an excellent rate to rebuild her economy asap in a fair way like what Kuwait has received.
Singapore is such a small dot in the world map and if she could be so financially successful in businesses with stabilised economy without any mineral resources at all, could Iraq’s future economy be better off in a shorter period of time if she has so many mineral resources given by God under the ground ready to be shared with the whole world? If Singapore can do it, Iraq can do it as well!
China has just opened her gateway to business opportunities worldwide not long ago, perhaps somewhere around 1997. If China can do it, Iraq can do it as well! Why must the naysayers still live in the past and imagine the shadow of Saddam Hussein, even after his demise, is lingering on in Iraq. It is unfair to always keep imagining Iraq is a villain while Kuwait is a hero. Let us not only pray, just do it altogether to speed up the revaluation of Iraqi Dinars by letting Iraq governors know about our urgent message.
Please contact minister.office@industry.gov.iq
October 17th, 2009 at 10:48 am
I have already emailed to them the above urgent message to the minister.office@industry.gov.iq to try bring across my appeal to them to help enrich their own fellow Iraqis asap without unjustifiable procrastination, unjustifiable procrastination and more unjustifiable procrastination. As for me, I have my own confidential reasons for achieving financial success, neither for my own retirement nor personal gains as I have no children and will never have till I would die someday. I have a mission to help poorer countries if I do gain from the RV and by the Grace and Permission of God, I will want to multiply it to teach the poor ones how to use the fish rod to catch their own meal whenever they need, not just to give them a free meal and leave them in the lurch and know nothing about survival. This is wrong!
All of you bloggers shouldn’t just keep waiting and doing nothing, except to speculate. We must try a new approach to this problem in different angles.
There is a need to give more justifiable reasons for the US Treasury, ICC, World Bank, WTO, CIB, US White House, UN, Iraq Government and so many other key authorities involved in the RV to understand there will be more advantages for all parties concerned and see a big picture ahead. RV of Kuwaiti Dinars is a good example how it still benefits all business parties and governments connected in Kuwait. What is all the fuss about? One idea makes us rich but one dozen ideas will make us even richer. Let us contribute more lucrative ideas to them to speed up the RV now.
October 21st, 2009 at 11:56 am
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!
October 25th, 2009 at 8:55 am
I have emailed to many world key bodies to look at situation of a solution to revalue Iraqi Dinars without further delay.
Here it goes:
I would like to know what have you to suggest to improve all my key points here? My second reason for emailing all important world key bodies is to hope everyone here is an extra helping hand and not a yes-man to the blind like ex-president Bush who led the blind to the gutter of failures and more failures badly affecting the global market altogether. Appointing any political leader who doesn’t read newspaper everyday to update himself is likened to allow a qualified butcher to lead a team of qualified surgeons to operate on their patients. My contribution of suggestions is not just about enriching myself, you all or the Iraqis. I have fear because of the Devine Voice I have received last month and I daren’t say I am qualified to receive such a message to warn all of you who are appointed to guard the world economy. But however, we need to carefully focus on one important popular proverb in the past generations of the British I still love so much: When we have gold, we are in fear: when we have none, we are in danger. Please do revalue Iraqi Dinars at an excellent rate soonest possible to save us all from future further more economic downturns which could be unintentionally caused by the “Iraqi Business Invasion” in the west first. The concept of cheap skilled labors is likened to a dirty person jumping into a clean swimming pool filled with considerate swimmers around. Every country wants cheap skilled labors but it is not right to do it at the expense of a hand-to-mouth existence in their own country. I was also a victim of redundancy and retrenchment. Therefore, I do empathize with all other victims of the same. Please share and understand the need not to keep procrastinating for any changes to improve global economy. We must remain in one mind showing solidarity.
Another email to the US President on Saturday 24 October 2009:
Dear US President Barack Obama,
Sir, I would like to stress more important points of revaluing the Iraqi Dinars at an excellent rate asap right here in the letter of my appeal to give the voice of American pragmatism in support of revaluation plan an added weight of truth. It is not just about protecting the Kuwait’s economic power alone despite the fact the fast-growing oil business in Iraq will definitely affect Kuwait’s oil business in a bad position sooner or later because of the vast differences in oil prices. It is more about what a new Iraq can be – the possibility of Iraq becoming a future copycat of China’s economic power is what we most worry next. As a matter of fact, China was then secretly learning the tricks of India’s economic power in the past, of which many didn’t actually realize. Fancy that the fools have rushed in where angels feared to tread. Those daring fools are now filthy-rich in China and some have migrated elsewhere to do business.
Allow me to contribute an excerpt from a good book written by two qualified business experts Wee Chow Hou and Lan Luh Luh on “THE 36 STRATEGIES OF THE CHINESE”. It is an inspiration so comprehensible to any layman, as follows:
Without doubt, China is becoming a stronger economic power by the day. The Asian economic crisis which precipitated in 1997 clearly demonstrated the increasing influence of the Chinese on world economy and politics.
That China will emerge as a powerful economy in the twenty-first century is no longer a question for forecasters. It is now a reality. Thus, it is imperative that we learn to better understand the Chinese psyche, especially in the realm of business.
Despite its modernization and entry into the free market economy, China’s five thousand years of history, culture and value systems still dominate the way Chinese think and behave. Confucian ethics, Taoist influences and other ancient Chinese classics still form valid reference points for understanding Chinese behaviour.
Well-known Chinese classics have often been cited as important driving forces in the minds of Chinese strategists. Sun Zi’s Art of War, the annals of the Three Kingdoms, Water Margin, and several other Chinese military classics are good examples. Indeed Chinese war strategies have become topics of research, especially in their application to business. This is not surprising, considering the fact that the Chinese have a saying that the business world is like a battlefield.
The “Thirty-six Strategies” are well-known to the Chinese and are frequently applied in business practices. No one can pinpoint the exact period in which the thirty-six strategies were written, nor the exact combinations of strategies that constitute the thirty-six. However, through the years, scholars have expediently adopted the thirty-six strategies as a set of common tactics used by the Chinese.
Though widely known and applied by the Chinese, these “Thirty-six Strategies” are less familiar to others. Even less-known are their strong applicability to business. This book attempts to bridge this gap of understanding between the East and other cultures of the world. It seeks to provide a timely insight into the mind of the Chinese strategist.
In business, China may be extraordinarily shrewd but Iraq is definitely not that stupid either. An appropriate fast action is needed to fix the Iraqi Dinar at an excellent rate is not just to avoid destroying Kuwait’s stabilized economy in the near future as well – that I must remind you once more – but as a justifiable reason to prevent Iraq from emerging as a “Second Chinese Business Invasion” possibly first attacking the west in the next round of more business wars very soon. It is the same supposition of many experienced business planners with remarkable foresight, of whom I have met and learned for years. We must save all business giants like Maersk from sinking slowly into the seas of failures without further delay. I was retrenched by Maersk not long ago due to redundancies in Singapore badly affected by the ongoing “Chinese Business Invasion”, perhaps.
Sir, I have sincerely contributed such a constructive suggestion because I hope everyone is in the win-win situation enjoying the same equal democratic rights to have a legal job to support their family for a long time, if health permits. Be very inspired: Weak things united become strong. In Strategy 3 among the “Thirty-six Strategies”: Killing with a borrowed knife, many shrewd Chinese big players in Asia, particularly in China, may often apply this strategy for a temporary solution but please be wary of such expedient to help prevent endangering the economy of the United States of America with all unproven and incompetent economic policies because many Asians still depend on her economic strength for survival. Do not allow any country to use other country to destroy your country, sir!
That’s all!
Sincerely,
A concerned retrenched Singaporean with sanity
October 25th, 2009 at 11:44 am
Where is a good place to buy the Dinar? Ebay?
October 26th, 2009 at 12:50 pm
I have read all these posts regarding the Iraqi Dinar. Does anyone REALLY THINK that your Iraqi dinar will be worth millions of AMERICAN US DOLLARS in the “near future”???
Do you really think that the Bank of Iraq will convert your virtually worthless dinar into real American Greenbacks/currency and make literally thousands of people all over the world instant millionaires? What are you people SMOKING???!
I’d like some to also realize this ill-placed sense of EUPHORIA…..Do you realize that the iraqi dinar is now the #2 BIGGEST SCAM on the internet, and the NIGERIAN MONEY SCAM is #1? The money being made is in the selling of the dinar in my opinion. Paying “relatively” good dollars for worthless dinars is relatively crazy in my opinion.
And how many of these posts that are positive work for dinar dealers, trying to get you to buy MORE? If this was such a good deal, they would not be ADVERTISING any of it, it would be kept secret and only a select few would profit, just like in everything else……..like old Man Kennedy once said “when the shoe shine boy is giving me a stock tip, time to get out of the market…….!”
He cashed out just in time. I think $1040 for a million worthless dinars is highway robbery!! I’d give 10 bucks for a million, take it or leave it…….right now it’s 1171 dinars for ONE AMERICAN DOLLAR! It would take a herculean effort for the iraqi ECONOMY to rev up that much for one dinar = one dollar.
Now, I think in 10-20 years your initial investment of $1040 dollars, may double or triple to $2000or say $3000 dollars; but NOT 2 OR 3 MILLION!! Makes no economic sense……….who will pay it out?? You mean to tell me that the Bank of Iraq will ACTUALLY PAY you 1-2 million AMERICAN DOLLARS for your “reset iraqi dinars”????? BAHAHAHAHA………that is really funny. You people never took basic economics courses.
I do think that in 50-100 years you could be right, once their economy has time to heal and actually GROW. Soooooo………….it may be a “lottery investment” for your grandkids, but don’t quit your day jobs yet folks! This is a get rich quick scheme pure and simple.
Kuwait is a different animal. Germany and Japan had pretty good economies before world war 2. Iraq did not. And…………..the so called exchange rate of 3 dollars for one dinar was only for Saddam and his inner circle, NOT FOR THE ENTIRE WORLD……..!! And………a broker told me you could not trade dinars outside the country period.
A more clearer use of the dinar may be to wallpaper a few rooms in your debt-laden mortgage/house, not to free yourself from it! Iraq has a very long way to go……………! It is still a war torn country. Why do you think the Iraqis themselves want dollars and not dinars? That should tell you something too. If you can get dinars dirt cheap, like 10 or 20 bucks, the price of a pizza, then do it……….otherwise, your money is best left in your bank account.
I may buy some dinar, but I want a million for a big mac and a coke, not my GRAND THANK YOU!! Good luck, cause you’re gonna need it…………………!!
October 29th, 2009 at 12:22 pm
Everyone on here has Dinars stashed some were, and if you are going to be a hypocrite please send all of them to me in California; I COLLECT! If it takes 1 day, or 100 years, I will die knowing I left a fortune for families and friends behind me.
Furthermore, I have not quite my day job, and will continue to buy dinars until I have 100 million dinars in stash: “Its called dollar cost average as a leverage for the upside for all you investment majors.”
Lastly, the shoe shine example may have been true from the 50’s to the 90’s, certainly not in today’s financial market. I don’t care about your pessimistic views, should the IQD do well in the near future (i say it like this because know one has a crystal ball as to when), but when it does look at it this way, the American family will be gaining back all the financial losses over the past 8 years with interest.
Shoe Shine Boy
October 31st, 2009 at 12:38 am
AAAAHHHHH Good Grief Charlie Brown……who knows what to do. All I can say is if it looks like a get rich scheme, it probably is.
Good Luck to All.
November 5th, 2009 at 10:33 pm
Then just buy Iraqi Dinars with your own currency at a cost you can afford to lose. PM Maliki has been using all the foreign talents of world key bodies and world leaders to assist him now on how to professionally manage a genuine democratic nation to rebuild her economic power in due course and that may means revaluation of Iraqi dinars to stay on a par with our values of everything including forex exchange is highly possible.
Do not keep imagining the unjustifiable terror of Saddam Hussein is still lingering on in Iraq. Unlike Pakistan and Afghanistan, Iraq terrorism is likened to one small drop of plain water unable to dilute a teaspoonful of milk powder.
PM Maliki’s 80% of Shia community of younger generations over 20% of Sunni community of younger generations is different from late Saddam Hussein’s 20% of Sunni community of older generations over 80% of Shia community of older generations because of the different concepts of solidarity and modern education. Present modern generations of Iraq regardless of whatever or whichever Muslim denominations appear to show solidarity towards the modern idea of enriching their buying power and hence, all the people of Iraq prefer to reinstate rather than to revalue their Iraqi currency to rebuild their economic power.
If the whole world wants Iraq to join them in the Name of Democracy, it is equal and fair to allow Iraq to enjoy the same democratic rights to reinstate or revalue Iraqi Dinars to be able to join as legal members of the forex exchange markets.
If Iraq is forced to remain as a nation similar to a communist nation, then forget the whole of idea of revaluing her currency. Does it make sense to treat Iraq as a condemned country just because a few cases of terrorism happened here and there. Come on! The show must go on despite terrorism. There is way to resolve the problems of terrorism if the international co-operation is 100% sincere in their moves against terrorism.
Please rethink carefully; and consider about the patience of waiting for Iraqi currency to be revalued in due course. Rome was not built in one day.
November 6th, 2009 at 8:36 pm
I remember as a child my father talking about wishing he had purchased the Deutch Mark after WWII and how many millionaires were born overnight. He was from Germany and he remembered people delivering wheel barrels full of money to buy a loaf of bread. The same thing happened with Kuwait. It really does sound like common sense given Iraq’s vast resources and heavy investments currently being made, that soon their currency must RV for the sake of their own people as well as investment companies ie. Shell, Exon, etc. which are now eager to do business.
November 7th, 2009 at 10:39 pm
Everyone in here has either bought Dinars or thought about it. You wouldnt be in here if not right? So with that said….I applaud everyone who has the hopes that the IQD will bound in value in the upcoming years. I have spent 2 tours in Iraq with the Army and am proud to say that, and yes i did purchase IQD each time.
Its funny to me that people say it is a worthless investment blah blah blah…. In late 2004 I bought 600,000 IQD for only 120 USD but in 2007 I bought 200,000 IQD for 100 USD. Why if the value is not increasing wasnt i able to purchase the same amount in 2007 for the same price? Im not a business owner, do not have some fancy degree and am by far not wealthy, but it doesnt take any of that to see where the IQD is heading. It will not happen over night but within time the ones who have taken “THE CHANCE” will be glad they did.
Now for the people that think this is a losing situation, I hope that someone in your family or circle of friends invested and will think of you while they are cashing in! If by chance my 220 dollar “INVESTMENT” was to make me 1000 dollars for sitting in a box in my closet don’t you think that would be a decent payoff?? The bottom line is yes it is a risk but what isn’t in life right. I say buy with caution and only spend the amount you are willing to lose.
One more thing, God Bless all of our service members at home or abroad, active or retired. I want to thank all of them for outstanding jobs they have accomplished in the past, present and what lies ahead. Thank you!!!!!
November 8th, 2009 at 7:41 am
‘Jim Cramer of Mad Money Talks About Iraqi Dinar’
November 9th, 2009 at 7:53 am
Hi,
I invest in Iraqi Dinar in last 3 years, please any body explain me this dinar sell or hold and Iraqi Dinar future is good or no further more after 2 and 3 years expected rate.
One more I invest in Irani Rial please any body explain me this rial is good or no and Irani rial future is good or no further to after 2 to 3 year expected rate.
Thanks,
Ashraf
November 13th, 2009 at 11:42 am
If Jim Cramer says to buy Iraqi Dinars, then you know a scam is around somewhere.
Buyer beware.
If something sounds too good to be true, then it probably is.
November 15th, 2009 at 5:27 pm
Let’s say you own a house.
You decide that you want to sell it so you hire an appraiser. He examines your house and says it’s worth $100,000.
You don’t agree with his appraisal so you revalue it and list it for sale at $1,000,000.
What do you suppose will happen?
November 16th, 2009 at 10:35 pm
I emailed to many world key bodies to rethink why they should approve the revaluation of Iraqi Dinars asap for better reasons right here:
Dear sirs/madams,
To whom it may seriously concern:
My name is James and I believe in humanitarianism and human rights. I would like to email you as a kind of an anticipatory feedback with a hope that the Iraqi government can decide the best course of actions to take in a situation like rebuilding its economy. Before you download all the attached files to provide you a comprehensive guide of something very useful, it is necessary to read my email first to allow you to clearly see things in perspective and from all angles as to why revaluation or reinstatement of the new Iraqi Dinars is so important as an alternative to regain a better buying power for both the working population in the private and government sectors equally fair.
Not long ago, US President Barack Obama persuaded China to revalue its already-revalued RMB currency to improve the weakened US economy but China is still reluctant to revalue it for its own numerous justifiable reasons. Whilst China can afford not to revalue its undervalued RMB currency, Iraq cannot afford to do likewise against global economy at all. Let me elaborate further in the next paragraph right below.
When global economy was climbing towards economic success about more than two decades back, China was in one good piece showing solidarity without being torn by any war and it has opened its gateways in all directions without one single threat of terrorism to welcome business opportunities worldwide together with its cheaper manpower systems provided for further economic expansion in many foreign nations including the United States as well. From the very first day China’s communism started to fade away to invite more democratic moves for the sake of co-operating with international demands, the percentage of its domestic production is still remaining above 90% whilst its imports and food aid, perhaps below 5% to date. Licensed money-changers all over the world do recognize RMB as a good foreign currency to be exchanged with. In Singapore, only two licensed money-changers possess new Iraqi Dinars for their own good reasons.
Let us talk about the important matters of present Iraq. The return of depression economics seems to be equally bad in this decade almost as similar to what we have witnessed the catastrophic failures in the industrialized economies of Asia and Latin America throughout the 1990s. Between 1991 and 1998, severe financial crisis struck Japan, Russia, Brazil, Mexico, Thailand, and Indonesia. Despite the fact that such crisis was so foreseeable, how come so few people foresaw it? Was it the syndrome of the frog in the well, again? I hope Iraqi government wouldn’t have such a tunnel vision of many foreseeable economic crises coming towards the future world which can also badly affect Iraq economy. When Iraq has regained its freedom in 2003 after the fall of Saddam Hussein, was it really showing solidarity as excellent as China that I’ve mentioned earlier in my third paragraph? Apparently, Iraq’s percentage of domestic production is still far below 33% whilst its percentage of imports and food aid is far above 67% to date. Please accept my sincere apology if I am wrong in hearing it from some latest online sources. Is it true more than 25% of Iraqis still live below poverty line? And despite we are shown pictures of an optimistic and hopeful parts of Iraq, is it true that the percentage of population below poverty line is gradually increasing because corruption of numerous officials is still happening all over Iraq? Corruption can never help any nation to progress further and speedily like what other uncorrupted nations have successfully progressed for many years.
With a clearer picture to understand how New Iraq is standing right now facing a lot of economic changes in this decade which have resulted an even lesser buying power for its younger generations as well, are you not seriously worried about how long your appointment as a parliamentarian will remain in time to fulfill all your dreams of rebuilding its economic power? You won’t want, perhaps in the next general election day, to be replaced by incompetent parliamentarians of the opposition party who would only care for themselves leaving you feeling totally hopeless or to be replaced by competent parliamentarians from the opposition party who may want to accuse you in future for being a corrupted governor who loved to keep procrastinating against revaluing its new Iraqi currency to rebuild its economic power, correct? Will it be an honour written in the archive concerning the rise and fall of your present Iraqi government by then?
Now, you may download all the attached files relating to the most revised version of our CPF system which is implemented to meet the current needs and necessary changes of our national demographics. In the attached file of ERC_CPF_MainReport2.pdf, the contents are self-explanatory. Do you now fully understand why is revaluation or reinstatement of the new Iraqi currency so important? Without revaluing your money, you can’t have better buying power. Without better buying power, you can’t force your fellow countrymen to contribute any money to CPF. Without CPF, your social welfare will have to solve more foreseeable future problems of financial hardships of many older generations and younger generations alike. If Iraq still remains as an asset-rich but penny-poor nation, how to provide hardship allowance so continuously for the many poor and needy who really live a long life? CPF system is not the right system for the second and third worlds but Iraq can adopt it only after revaluation or reinstatement of its currency rate is confirmed and legally approved by the whole world; and vice versa i.e. implementation of CPF system prior to revaluation or reinstatement of its currency rate is definitely impossible because there may be more armed uprisings emerging against it with certainty. Singapore’s CPF system is politically- and economically-proven since 1955 which in other words, it has been established for 54 years to date. Our CPF is another kind of a back-up to stabilize our economy in case numerous global economic changes which may try to shake us up. Moreover, our CPF has an economic preparation for almost all other contingencies within Singapore.
Recent news media reported that about more than 22 millions of fellow countrymen in China were jobless because many US giants locating some of their business in China have given up probably due to weakened US economy happening for so long. Singapore has finally agreed to reduce the growing number of economic migrants from squeezing into our limited housing facilities as their rented accommodation in our small nation. Malaysia is our closest neighbouring country and its government has better reasons to reduce the same to protect their own Malay community from facing too many unemployment problems and to stop many so-called foreign visitors particularly prostitutes from overstaying as well. Australia and New Zealand would definitely not be so willing to invite newer economic migrants anymore from now onwards because most of the previous ones came as prostitutes with their so-called “husbands”.
Not long ago, I had numerous nightmarish visions in bed of some coming new fatal plagues affecting the whole world. Hadiths of the Muslims and the Holy Bible did mention the future world would suffer more newer fatal plagues than before. That is why I need to share my justifiable opinions with the foreign talents of all world key bodies to fully understand why we should first revalue the new currency of Iraq asap to rebuild its economy. International co-operation is indispensable to resolving the problem of Iraq economic power first as a new form of business strategy to help buffer US economy against inflation and China’s frequent economic attacks.
By strengthening Iraq economic power, we are also improving the welfare and healthcare of all Iraqi people as well, right? If we don’t immediately improve the living standards of their working population and solve their unemployment problems, a divine retribution is bound to happen in a matter of time, right? Let me elaborate further why is it absolutely right.
Apparently, with online complaints of so many corruptions still happening in Iraq, how would the busy Minister for Health in Iraq have the same numerous nightmarish visions I had? In my younger days for 4 solid years, I had lived together with the poorer people and shared their floor as bed. When some had no money to eat I cooked for them what I could afford to buy. On one occasion someone there was sick and as a pity, I gave him money to visit a doctor but when he refused my donation I then bought some clinically-proven herbal medicines to suppress his sickness, temporarily. Others around me loved me so much as their temporary companions within the same free accommodation but however, they never took advantage of my generosity. These are my friends indeed!
Sometimes, I had to miss a lot of breakfast meals to save money to indirectly help the poor. God has really shown me how to empathize with others who suffer in silence. Do you now fully understand why I need to raise my voice to the whole world to first help the poorer and the needy ones in Iraq soonest possible?
Terrorism is like a few peanuts on our big conference table compared to the greater possibilities of the more coming fatal pandemics. Therefore, we shouldn’t focus too much on terrorism and totally forget about other important matters which may really worsen global economy permanently this time. Without healthcare adequacy and retirement adequacy planned ahead, not to precisely mention whether the Human Rights Watch has frequently investigated their national demographics to ensure that Iraqi people below poverty line are eating enough of the right foods to improve their immune system against all future diseases, most Iraqi people will suffer future financial hardships without a penny to their medical rescue. Someone may protest: “Iraq has oil and oil is money. So, why fear?” Without revaluing or reinstating its currency rate, oil prices cannot be genuinely revalued to improve Iraq economic power permanently. And oil reserves can totally disappear tomorrow if God wishes to do so. How? Iraq is a country vulnerable to frequent natural disasters, namely earthquake, famine, drought, flood, and epidemic. Earthquakes can destroy oil reserves, right? Just fancy with my rhetorical query what if somewhere in the Holy Bible mentioned that the future Babylon might be the first nation to spread a newer fatal pandemic worldwide due to its endemic poverty unsolved for years? Please rethink about how and why newer virus of The Black Death can also come as the future fatal pandemics. For those who don’t understand, please download the attached file of Black Death – Wikipedia, the free encyclopedia for your perusal.
I hope you would seriously consider about another important problem relating to the health of the future Iraqi people. Do we all know that almost all economic migrants with or without employment contracts with their overseas companies only in private sector (mind you, I am not mentioning the government sector) in any well-developed countries do not enjoy better medical benefits like surgical operations for illnesses even directly relating to occupational hazards. How do we accuse anyone without proofs of evidence? If they may work closely with poisonous chemicals for many months, can they contract future cancers? Cancer and heart diseases can happen to many night-shift workers whose body and brain should usually be rested in the night to balance their brain chemicals which are associated with their mood by the help of natural hormones of serotonin, catecholamine, gamma-aminobutyric acid (GABA) and endorphin. When in balance, these healthy neurotransmitters can greatly help us in being alert, optimistic, calm and resourceful. When we are sound asleep in the proper night, melatonin as another natural hormone would be produced by the pineal gland in our brain. Serotonin is opposite of melatonin, of which the former keeps us wide awake like coffee whereas the latter keeps us feeling rather sleepy like prescribed sleeping pills. God has created the day and night not just for fun to our healthy bodily system.
You wouldn’t want more foreign bosses returning all your seriously-sick Iraqi fellow countrymen back home for you to take good care of them for whole life, would you? No government elsewhere wants all their taxpayers to pay medical expenses as a charity to economic migrants because taxes collected are meant to help their own community at large. They don’t owe any economic migrants a living at all. If they go to any nation for a temporary job assignment to earn money without any contribution as annual taxes, don’t expect to share equal human rights together with their legal citizens who contributed payments as annual taxes. This is a clear common sense!
Please revalue or reinstate your Iraqi currency as soon as possible.
Let us hope Iraq will improve as an Independent democratic nation for as long as God permits. That’s all!
To our greater economic success!
(No attachments here because I cannot upload them here at all)
November 16th, 2009 at 11:28 pm
One licensed money-changer Farook of Mohamed Tahir Exchange in Singapore told me how he regretted not buying more overly-undervalued Libyan Dinars last year when it raised from “10 cents” to “$1.80″ which really overly-enriched one Chinese customer of his whom Farook apologised to him for having despised his intelligence. Farook told me how he thought that crazy Chinese customer could buy so much useless Libyan currency when Libya was one of the most corrupted nations with a lot of terrorism happening within it. The new ruler of Libya is a son and a pro-American successor of his anti-American father M. Gaddafi. Libya’s oil reserves is in number 9 in position whilst Iraq’s oil reserves is in number 3 in position. So, if PM Maliki is a pro-American with more hopeful economic developments so foreseeable due to possessions of larger oil resources and other mineral resources confirmed with the approvals of geographical scientists from the United States, what say you concerning more chances of IMF revaluing Iraqi currency very soon? PM Maliki is not Saddam Hussein, OK!? The opposition parties of PM Maliki also persisted revaluation of Iraqi Dinars as well, do you know? And PM Maliki must revalue it soon to win more seats in the parliament during the general election day around January 2010.
Just buy Iraqi Dinars as much as we could afford to lose. Don’t say greedy, just say like what we all Singaporeans like to say it in Singlish: Money is no enough!
November 17th, 2009 at 9:27 am
I will buy 500,000 more Iraq dinar on friday to make a total of 1,000,000dinar. That’s all i will buy, no more. If it does RV, then i will have about 930,000 bucks after taxes. Hey that is enough for me to invest and live off of the interest per year..I plan to live in the Philippines after the RV, so i don’t need alot of money to live off of.
Hey James, Good info. about that Libya currency.. it gives me hope for the iraq dinar RV.
I can’t wait to laugh at the people who said we were crazy to purchase Iraq dinar. LOL
November 20th, 2009 at 4:37 pm
Hi,
There is one thing I see in common with all the Iraqi dinar purchasers, and that is they are looking for hope.
Hope that one-day in a brief moment they will become very wealthy because of a decision someone else may make.
But you can have hope today by a decision YOU can make.
That is to accept Jesus Christ as your personal Savior.
Jesus can give you hope, and give you life for all eternity.
If someone can change the value of their currency in a moment as you are hoping, what does that tell you about the stability of any of the money that is exchanged?
Place your hope in the Rock that is Jesus, and does not change like shifting sand.
Money can only do so much for you. The Iraqi Dinar cannot give you eternal life, nor save your life.
Trust in Jesus today.
Put your faith in the assurance of his love.
November 20th, 2009 at 7:15 pm
What do you have to say to the pastor that invests in the Iraqi Dinar? What about the church that invests their money in the stock market? Investing in the dinar does not mean that one does not have faith…
November 20th, 2009 at 11:52 pm
Hi Ray,
There is nothing wrong with investing. In fact, the Bible commands us to be a good steward of our money and talents. But many differ as to what the definition of ‘investing’ actually is.
If God has given us resources and talents, we are to use them wisely and to ultimately glorify Him.
What I was speaking of is a condition of the heart. You cannot serve both God and money.
There is nothing wrong with owning money, so long as money does not own you.
Is there a deeper hope longing inside that one might think getting rich may fill?
Money is a tool. It can be used for good or bad. Like gold, a car, or house, it cannot bring happyness. If it did, most of Hollywood movie stars wouldn’t be in the condition they are in.
The Iraqi Dinar is a huge speculation investment. There are many obstacles for anyone outside of Iraq to overcome even if the currency did revalue. It may or may not work out as many hope.
Just don’t miss out on what God has for your life right here and now regardless if you make lots of money in your speculative ‘investment’.
November 30th, 2009 at 8:32 am
i bought when the IQD was 3000 TO 1 that was when our government passed a special bill to let us people invest in there dollar now it id 1150 to 1 so far not to bad i believe i paid $240.00 for 250 million of theirs and that has been since 2004 i retire in six years and you never know. at one time in the 60s the dinar was worth 450 to one of our dollars. they are sitting on the biggest oil reserve in the world.
November 30th, 2009 at 4:15 pm
I invested about 1200 USD in June of this year.I have been told many times of a revalue and that it is a done deal, its in the works or will be any day.
Well I was told by a fellow investor that it did revalue and will be out any day at $3.27 per USD. All we all can do is hope for the reval to come ASAP, I’m sure we all will welcome any kind of a revalue and shut up mall the other people who tell us we are crazy for throwing our money away.
December 1st, 2009 at 3:33 pm
I spent a couple thousand on Dinars back in 2004. It’s money I have not missed at all, so it just sits in a safe deposit box at the bank. I wouldn’t consider this ever to be a SCAM unless someone SCAMMED you out of your life savings, but small investments seem wise to me.
The country is rebuilding. Old debts are being forgiven. New Oil contracts are being signed monthly. There’s not much left to happen before it revalues. What rate, no one knows. If it’s $.10 I’ll be a happy camper! I can pay off all my debt and have extra cash! If it’s $1 or more then that’s even better.
It will probably RV before the delayed election coming up. Malaki wants to be re-elected like any politician, and that will be a big boost to the economy so I expect it to be done before that.
December 4th, 2009 at 1:06 am
The Dinar is revaluing sometime next week lets hope! Probably at $3 dollars per us dollar but don’t keep your fingers crossed
December 4th, 2009 at 10:15 pm
I’m confused. The value of the dinar is 0.00086625. Is it logical to think that it will gain that much value? I really want to understand what will make the dinar value to much? It’s not worth one of our pennies? I want this to be true, but of course, pure logic gets in the way…
December 12th, 2009 at 2:53 pm
My question is what do we do when the iraqi dinar does go up?
Take the cash to a bank, any bank?
Also, what is involved with taxes here? Thanks.
December 15th, 2009 at 2:41 am
russ..any investment is a risk, so the dinar could go up in value, go down in value, or even be replaced and our currency could become worthless. I tend to believe that it will go up in value, and it’s doubtful that it would be replaced (it was already replaced from the pre-war Sadam image currency).
It is conceivable that it could revalue to $.10, $1 or even $2 or $3. The same thing happened in Kuait after the invasion and rebuild. Iraq is becoming more stable each day, and businesses are opening up, companies are investing, and of course, there’s all that OIL over there. It’s in Iraq’s best interest to have their currency worth more. I’d be happy if it went to a dime or even $.50. Anything more would be fantastic.
Most banks that trade currency will accept the IQD once it has revalued and is available on the foreign currency exchange. To date it is not–so if you call your local bank they will tell you they do not trade in dinars. That is OK, because they won’t until it happens. No bank is going to turn away customers that want to invest perhaps millions in their bank.
Specifically in the US HSBC bank is supposed to be a banking partner with CBI (Central Bank of Iraq) so I’ve read==only rumor– that they will accept dinars for sure if your own bank gives you problems.
Will it happen? Likely. When? No one knows. Things are lining up to look like soon but in the end none of us really knows. Rumors are fun to think about but don’t quit your job!
The government will get A LOT in taxes. I bought a half a million dinars just to cover what the government will take!
And, as always, Never invest more than you can afford on a risky investment.
Dayve
December 16th, 2009 at 4:44 pm
Exchanging at bank
- you can exchange just about any currency that’s traded on the FOREX. In recent months Thomson Reuters and the trade bank of Iraq established an agreement which enables TBI to facilitate international trade. Hopefully, this is a sign that Iraq is gearing towards establishing itself as a global economic leader. Once/if the dinar RV’s, banks will happily exchange the currency for a nice 5-8% fee — ouch! The value of the dinar is irrelevant (RV or not) when concerned about exchanging for USD. The currency needs to be marketable. Iraq already has the go ahead to place their currency on the FOREX but havent done so … maybe they’re waiting until they RV?
Taxes
- sell within 1st year of buying position and you get smacked with short-term capital gains, i.e. taxed at ordinary income tax rate. (make 500K off of this and you see $175K vanish quickly)
- sell after 1 year, long-term capital gains – much lighter face slap. ~15% for those in the 25-37% tax bracket.
- also subtract state income tax depending on where you live
- no you can’t defer the taxes like a real estate 1031x or Life insurance 1035x
- you buy, you sell, you make uncle sam smile.
Reason for buying Iraqi Dinar – speculative fun. As mentioned above, no one (that I know of) is investing their life savings into this. Iraq will some day HAVE to RV in order for their economy to compete globally. Elections are in March – so my guess is that the RV will be shortly before or after. Key word GUESS. No one knows. But the gamble is fun. Pick up the dice and roll with it.
December 16th, 2009 at 5:21 pm
Russ … you sir are way off!
December 23rd, 2009 at 4:06 pm
If anyone understands economics and the way a country rebuilds itself, it would be a good idea to invest in the dinar. The key world-invest. Do not drain all of your life savings to invest in anything. If your mortgage is $2000 a month and you live check to check, do not spend your $2000 on the dinar. Invest money that you will not miss.
Why is dinar investing not mentioned on the news. America wants you to only invest in American stocks, bonds, etc. That is why Gold and Silver gets so much slack.
I have even heard *rumors* that the American government (Department of Treasury) has invested in millions of dinars.
All dinar investors, to get accurate or updated information begin to go to the Iraqi News websites. Here you will see what goes on in the area. This way the information is not watered down by the Amercian press. Iraqi news papers and websites have nothing to loss or gain. Start looking at their news as if was your local even news.
December 23rd, 2009 at 8:51 pm
Guyblo I like your detail information. Now that is the kind of information that needs to be on the blog. With your information, I can further my studies.
December 26th, 2009 at 10:02 pm
I read every post here. I wish that the bulk of the posters would leave out the speculation. (It took an hour to read all of it.) Let’s just stick with the facts and let each person make up his or her own mind as as to whether or not to purchase the Dinar. Leave out the religion & politics please.
To answer some commonly asked questions as to where to buy it: I checked with local banks. Chase was rumored to sell it, but untrue. Huntington bank will order it for you, but the rate is high. You can buy it on eBay but these guys are bidding against themselves to inflate the price. (Just click on bids, you will see a bunch of obviously made up screen names)
A professional currency broker quoted $1010.00 per million on credit card or $945.00 with cash plus shipping & insurance.
The going rate as of today is between $855-866 USD for 1 million Dinar.
If I could buy it at that rate I would. Every seller seems to need his or her own profit margin. I plan to pay no more than $100 USD per 100,000 Dinar. After all, it’s only worth $85-86.00 per 100,000.
If anyone knows of a fair source for the Dinar, please advise.
January 2nd, 2010 at 6:45 pm
I went to safedinar.com They located in Boston and I have spoken with them on 2 separate occasions about my order. They werent very professional. They had $25k for $299 on next day delivery by Fedex.
Try them and but if you find something better please inform me.
January 3rd, 2010 at 6:49 pm
I used to deliver a lot of Dinar to chase ,I still deliver some currency but it isn’t the dinar anymore. I heard they lost the ability to sell the Dinar because they were gouging the customers. I heard that from a person that is the manager of a Edward Jones branch.
After hearing that i ask one of the people working at Chase and ask her about not being able to sell the Dinar her reply was they didn’t tell her why all she knew was you could buy any currency from them but the Dinar. True story.
January 10th, 2010 at 4:17 pm
What about these online money brokers who claim to be backed by the us treasury? Is it safe to purchase Iraqi Dinar from them? Please advise.
Thanks,
HP
January 10th, 2010 at 4:39 pm
Hi HP,
In what way do they claim that the US Treasury backs them, by some type of certificate? Let me know exactly what they claim and I’ll be happy to shed light on it!
Thanks,
Denar
January 10th, 2010 at 6:49 pm
I have heard that there are 5 Trillion New Iraqi Dinars held in the US Treasury. Is this true?
January 11th, 2010 at 4:36 am
I bought 400,000 dinars, so what, what the heck, if it goes up i will have a lot to spend, if it doesn’t, the dinars are going to be very secure and locked up for the future, remember this, everything, but everything that has to do with money, it’s always worth it, in one moment or another, buy the dinars if you want or believe, this is like buying a lottery ticket, same thing, if you win you won, if not…breath and breath and keep breathing, but a chance is a chance, don’t think on being rich buy dinars, buy a couple, nothing else cause you will never know what can happen with this money, but, but, if the value goes up, it’s going to be sad for those who didn’t even spend $30 buck on this! Luck for all, even me!, hope this currency goes up!
January 13th, 2010 at 12:27 am
Is this true, our U.S.Treasury is holding over 17 trillion in dinar? If so, why??
January 14th, 2010 at 2:57 am
ON MONDAY, JANUARY 11, 2010. IQD already rises from 1 US$=1170 IQD to US$ 1= 1111.1 IQD.
1 US Dollar(s) = 1111.1 Iraqi Dinar(s)
1 IQD = 0.000900009 USD
1 USD = 1111.1 IQD
We all hope in a week or a month ahead that it will rise and rise until at least US1=1 IQD. YOU CAN CHECK THE RATE AT: http://www.iraqidinar.org/iraqi-dinar-exchange-rate.asp. Doesn’t everyone here happy to hear a good news?
January 14th, 2010 at 8:31 pm
I used a online website and they were very professional. I ordered COD (you do have to pay 24 for it though), paid $1 at the post office for a money order (with cash for the amount of purchase), and the dinar money was overnighted to me the next day via UPS.
May it all happen with everyone’s highest and best in order…
January 17th, 2010 at 12:54 pm
Hi,
I have Iraqi dinar and Irani Rial please any body explain me this two currencies hold or sale further to future is good about 2 years.
Thanks,
January 18th, 2010 at 3:16 am
This is a summary information about RV
January 18th, 2010 at 11:19 am
our battalion was in sh*t hole iraq for 16 months. we protected the high Iraqi officials, banking ministry, and as well as the US government. For the record. We had the opportunity to buy and even some cases given the Iraq currency. We burned all of it!
US Government holds Dinar as collateral. Yes it will become of some value one of these days. however, I feel that you should not waste your time. this isn’t about investing or making money its about power that the US government holds over the middle east.
If you think you can make money off this please reconsider.
January 23rd, 2010 at 2:18 pm
On yesterdays news, 1/22/10 I saw that Vice President Biden was in Iraqi squaring away the election that is to take place in March in the Iraqi goverment.
January 24th, 2010 at 3:51 am
Too bad, if IQD devalued their currency from 25,000 to 25 – as we all know the best thugs in the world are from Baghdad. I really would say from my heart, this does not happen. Or else USA investors would loose their faith over IRAQ for ever. It makes sense to devalue their currency to a appreciated level as $1 = 1 IQD but removing three 0’s from 25000 IQD??? I would use them as a TOILET papers.
January 26th, 2010 at 1:59 pm
To Leo thank you for the informative information I have question for you did your bank issue you a debit card thank you.
January 27th, 2010 at 1:18 pm
Now who is the best place to buy from?
January 29th, 2010 at 3:43 pm
I have used Google Products to buy currency and found them to be very reliable and customer based. As always, everyone’s experience is different, but I placed the order, followed their instructions and two days later the Fed-ex van pulled up to my house with the dinar..I inspected it after signing for it..done deal.
I paid $1050/million. I’m in Iraq now and buying it for $900..so $150/million premium for sitting at home in the U.S. and buying it certainly seems worth it. I suppose I could head downtown (pick any town in Iraq) and get it for $850/million, but good luck with that.
US-R-ME….there’s a reason you’re in the Army…you didn’t do well on the ASVAB, or at least not on the economics section..if somebody is giving away money..any money..usually not a bad deal.
January 29th, 2010 at 3:55 pm
eBay is now listing dinar for $1060/million for new currency and $970/million for circulated. I’ve bought both from them and the circulated currency appears new. I also wanted to add that the SOFA (status of forces agreement) Article 20 (signed late 2008) prohibits U.S. Armed Forces and Contractors from taking dinar out of the country. You can decide why this is.
February 4th, 2010 at 12:49 pm
Hey Guys,
I have about 4 million Dinars, and like many other people, I am hoping and praying that this is going to be worth 4 million dollars one day, and preferably sooner than later.
However, after doing some research lately, I read that the Iraqi Treasury is going to “rebase” rather than “revalue” their currency.
They are planning on taking off 3 zeros from their currency, which is going to be monetarily neutral. So basically 25,000 Dinar would be worth 25 Dollars.
Much different than I originally expected.
February 9th, 2010 at 2:21 am
Oh my god oh my god, I am really sad and disappointed if 25,000 IQD would be worth US$ 25, like what Loudog said. Then, investing in dinar will be worthless and wasting time. So, I better sell my dinar now than it is too late and invest it elsewhere that is more profitable, like Vietnam Dong and Chinese Yuan. What do you think everyone here any suggestion will be appreciated…
February 9th, 2010 at 1:23 pm
I read that article also. I believe that “rebasing” simply means that they will not count the zeros that are after the main digit. For example, instead of $25000 it will be only $25. By rebasing the number it makes the electronic system much easier. So now in Iraqi a bag DVD player may be 50,000 dinars. After the rebase it will be 25 dinars. This still does not change the revalueing aspect. That still has to come and is a seperate event.
Remember revaluing is a totally seperate event, which has not yet occured.
In reality they should have made the bills in $1, $5, $10, $25 in the first place.
February 10th, 2010 at 4:29 pm
A couple of things to remember.
1 – If Iraq wants tot trade with other countries like they did before the gulf war then their currency has to be revalued
2 – The world wants to do trade with Iraq again
3 – Exxon/ Mobil, Shell and China Petrol have signed contracts with Iraq to get a piece of their oil. If so then what are they going to be paid? Peanuts?
4 – The reason Iraq is going to lop of 3 zero’s from the currency is because of a re-value. You are not going top bring 25k to buy bread when it is going to be 5 bucks
5 – The US Govt wants the RV to happen so they can cash in the trillions.
6 – In 2003 Pres Bush stated “The war would pay for itself” In my opinion that this is what he was talking about
7 – The US is giving back Iraq the gold we hoarded from them as well as the UN
This is just a few examples but the biggest one is the World wants to do trade with the Iraqis again!
February 10th, 2010 at 7:23 pm
Nobody can tell you who the best is to buy from. Dinar dealers in my opinion are the best way to go. My particular dealer will buy them back at a flat rate of $150 per million when the RV happens. In fact he has 2 offices in this country and is already gearing up to open 8 more just to exchange them when it happens. My dealer of course will not give any intel since he is registered with the US treasury and SEC. He is an agent of the CBI here in the states.
February 15th, 2010 at 11:46 pm
I heard they are issuing new notes this year. So unless we have the ability to change the current notes to the new ones which will be issued soon, we are in trouble – is this true?
February 16th, 2010 at 3:54 am
Come on everyone here. be rational objective and realistic. Do all of you here have any good reasons why the iraq government should RV dinar IQD just to make people who aren’t IRAQ CITIZENS just to get very very rich by buying dinar IQD?cause iraq government now just wait and wait patiently for all dinar IQD holders who aren’t iraq citizens outside the country of iraq to return back to iraq, then after that, the iraq government will RV immediately, I swear I can guarantee my statement and I can bet with my own head that iraq government will RV dinar IQD immediately after all dinar holders who aren’t iraq citizens to return back all dinar IQD to Iraq!!!!.Don’t ever believe with all news, like election , United nation meeting, and US troop withdrawal in august 2010 or end of 2011 all this news have got nothing to do with the RV. Just see it for your yourselves and you have to believe what I say before it is too late right now at this moment. Just remember my words: don’t be too greedy cause greedy bring a huge disaster that you can’t ever imagine for the rest of your live.
February 19th, 2010 at 2:05 am
SOME of you have lost your minds – The dinar will never equal the dollar – Every person in IRAQ has a ton of this money. It would make poor people millionaires – And that is not going to happen! 100,000 dinars is $85.00 us funds. So every person in iraq is going to get 100 grand us money for every 100,000 iraqi dinars they have. Not going to happen,, The money will go up i think..but not that much at ALL.
February 23rd, 2010 at 2:38 am
Here is How I see it. We pay ~$80 per barrel of oil. This = 93600 Dinar, If they RV at 1:1, We still pay $80 per barrel, but the value of our payment dropped to 80 Dinar. Oil is how they will survive to the end of time so I dont think thats going to happen.
If the take off the 3 zeros 25K dinar old is now 25 dinar new. same spending power. now the $80 is worth 93.6 new dinar. If they then RV at 1:1, they will increase the value of their currency over 10%. good for them….
So your 1,000,000 dinar will be worth 1000 new dinar. kind of a break even. This isnt good for the investers ( like me ) who had hopes of an early retirement, but Iraq is going to look out for Iraq….as they should.
February 27th, 2010 at 12:50 pm
Everyone is hoping to benefit from dinars but I understand and sympathize with both sides. But in reality I believe if we stop investing in the dinar- meaning stop purchasing them, either 2 things will happen, (1) the government will stop stringing us along with this dream, and they will get out before they take a tremendous loss.
The government and politicians are the ones who benefit the most. (2) If revalued we will speed up the process by quit purchasing the Iraq dinar! Think about it just throwing it out there what harm could it do by revaluing the Iraq dinar 1 for 1 on the U.S. dollar? You can’t say debt we are already in a trillion dollar deficit. But this is just my opinion. Come on people if we all continue this process, by the time it is revalued we will break even or a slight loss! Do not continue to put the government officials in million dollar house and buy them hundred thousand dollar cars in their drive way. While we only profit with a new television or new bike for our kids. Wake up people.