Buying Iraqi Dinars?

[fishjack1]

OK some of my buddies are thinking about buying Iraqi Dinars as an investment. Has anyone done this or thought about doing this? This website has quite a bit of information:



Iraqi Dinar

 

[jponder]

Jack> what in the heck is going on down there? GO FISHING!!!!



Man you boys get a couple days of bad weather and yall start flipping out. Buy some Cambodian money, their women dont wear veils, or anything for that matter.



I hope the weather clears up for you guys where yall can get on the water and stop FLIPPING OUT!

John Ponder

 

[fishjack1]

Hey John - as a matter of fact this came up while fishing over the weekend...



Some friends were discussing this on the boat and I have been looking into it today on the internet. I'm kinda skeptical about the whole thing myself.

 

[jponder]

Well Jack, I feel better that yall were fishing when yall talked about this, LOL. I spent 3 weeks at our beach house in Ft Morgan and I cant remember seeing that bad of weather sustained for 3 weeks. we had 50 MPH winds numerous times and I just had this vision of yall being blowed out from fishing and starting to think Bizarre things.

I cant think about stuff like that as I have 2 kids that are 20 and 21 and I have to keep banging there and mine's Roth Ira That cost me 9K a year. Oh well, maybe when I get them and 1K$ a month in vehicle notes payed for I might could consider something like that.

Iraq could certainly be defined as an emerging market. I can remember when Pesos wer 6. 8 per dollar and now they are what 11. 6, course that meant you shure as hell should have been buying US dollars during that time. Mexican economy is based alot on the dollar so it might not be a good example, I think the Iraq currency will follow that trend for some time in the future but talk to a money guy at your favorite stock Broker, course those guys will lie to get commissions.



Hope to get to go fishing with you some time

John Ponder

 

[moparguy]

My son is in the Navy, said some of his buddys were buying Dinars in case the economy makes it. I think at the time it was something like a dime on the dollar.



My advise was, bet only what you can afford to lose.



Edit: Wow, just checked the site listed, 250,000 Dinars for $450. 00



Think I'll pass.

 

[dresslered]

Not saying that this sort of investment won't pan out someday, but wouldn't a foreign investment in a country that is already on the growth path be a better choice (i. e. China, Korea, etc. )?

 

[JConley]

I think the Saddam Dinars would be more valuable with time. They dont print them anymore, and they are being destroyed.

 

[tpuig]

I grabbed some Saddam dinars when I was in the Desert Storm. They're fine for the scrapbook, but I not holding my breath for them to valuable... .



Might make sense to put your dollars into some of the companies getting started in Iraq instead of the currency. Construction, oil, telecommunications, medical, etc.

TP