Tons of people are calling the Iraqi Dinar an excellent investment and claim that it's a sure way to get rich quick. Do a search for Iraqi Dinar and you'll find sites that offer forums and discussions that talk about this great investment. In fact, chances are you'll find almost all of the top sites owned by the same people. These people work together to flood the market with promises of getting rich!
Right now, you can buy a million Iraqi Dinar for $700 and the dream that the Dinar will eventually be worth the same as a US dollar. Why wouldn't it? There's gold in them there hills! Black Gold that is!
Iraqi Dinar, a lot of hype!
A lot of the hype over the Iraq Dinar centers around Iraq's vast oil reserves and their supposed economic value. The oil market extremely unpredictable and an economy based on oil alone (oil accounts for 90% of Iraq's foreign exchange) will also be unpredictable. There are many countries similar to Iraq's foreign exchange situation and the currency value is extremely weak.
The top sites selling Iraqi Dinars bring up the topic of the previous Iraqi Dinar Exchange Rate. They are referring to 1982 when Saddam Hussein set the Iraqi Dinar Exchange Rate at $3.22 USD, what they don't tell you is that the old Iraqi Dinar could not be traded in the open market and the over inflated Dinar exchange rate was not tested on the world currency exchange market! Saddam simply 'made up' the value, it wasn't real!
Iraqi Dinar Exchange RateThe New Iraqi Dinar (IQD) was introduced in October 2003 by the Coalition Provisional Authority in close consultation with financial experts from Iraq and the international community. Currently, it would take you almost 1500 Iraqi Dinars to buy one US dollar, a very poor exchange rate for the Iraqi Dinar. The old Saddam Dinar has no value whatsoever except what a collector might be willing to pay for it.
If the Central Bank of Iraq fears that trading the New Iraqi Dinar in the open market would lead to the eventual downfall of the Dinar, then why in the world would buying Dinar from internet sites be any different?
The Iraqi Dinar is not freely traded, and is not being used in any significant international transactions. If you look, you'll be unable to locate any official bank or foreign exchange office that is willing to exchange the Dinar, at least outside of Iraq itself.
False HopePromises that are far fetched! Come on, do you really think that these sites promoting the Iraqi Dinar as an investment actually believe the Dinar is going to increase 450,000%?
Webmasters make a fortune selling Dinars!How much does a website owner selling Iraqi Dinar's make per month? You can check the stats a number of ways, but in general, the top sites are selling 200 to 500 million Dinar per month at anywhere from $1,000 to $1,200 USD per million Dinar. Note: some sites claim less, but they hit you with shipping and other fees!
So, the only people getting rich right now are the Dinar Resellers. The Dinar investors are the ones taking the big gamble with odds comparable to your local lottery!
Grab our feed and stay tuned! I'll be providing you with detailed information, such as where webmasters buy the Dinar, how they get it into the country and who the biggest players (scammers) are.
Buy Dinar, or NOT?To buy Iraqi Dinar or Not to buy Iraqi Dinar, that is the question. Well, I have a short answer for you!
If you have extra cash and believe in long shots, and I mean long, then go for it! Otherwise, take your money and invest it in something with better odds.
If you're willing to gamble and are hooked by the promise that Iraqi will put it togeather, then read on. This Iraqi Dinar Blog is all about Dinar speculation and attempting to Peg the Dinar.
We also have a large selection of Dinar Currency Trading information available:
