Anyone buying Dinar?

[Caddyman]

Just wondered if anyone was into this. I'm not sure if a thread was started regarding this, but thought it was interesting to see what you all think.

[revnecro1273]

which country?

[Caddyman]

Iraq, my bad. I just wondered if the minimal investment may pay off some day.

[Q-Unit]

been sitting on a stack of camel-piss-smelling (they really do smell like camel piss or something, I stick em with a box of Arm and Hammer to neutralize the odor lol) dinars since '06 or so.

minimal investment, but hoping (although long shot) at some decent ROI.

- need stability of course in Iraq and proper exploitation of their vast oil resources

- also hope no random (although unlikely with U.S. presence there although you never know) dictator takes over and prints his own money!

[tinwork]

Where are you buying from?

[Caddyman]

I have not bought any as of yet, but my golf buddy bought some at a kiosk in Sarasota.

[Loser From Toronto]

I wouldn't put one penny into that worthless monopoly money. I'd suggest buying silver or gold instead, but don't invest into money from a country where the people use their left hand instead of toilet paper.

[Victor]

I thought the question was....Anyone buying dinner. lol

[mikkii10]

Originally Posted by Loser From Toronto

I wouldn't put one penny into that worthless monopoly money. I'd suggest buying silver or gold instead, but don't invest into money from a country where the people use their left hand instead of toilet paper.

your very right

[revnecro1273]

Originally Posted by Victor

I thought the question was....Anyone buying dinner. lol

damn west texans

[yoffff]

If you have some play money I would say it is worth the gamble. Iraq has more money and oil than the U.S. Depending on the bank you buy from the Dinar could go up one cent and you could make very good money but my guess is when Iraq gets squared away they will most likely move away from the Dinar and greate a new form of money

[aztriman]

Iraq does not have more "money" than the US, but that is really irrelavent. Iraq does have a better balance sheet than the US, but that's irrelavent to the question also.

DO NOT BUY DINAR! There is very little likelihood that this will pay off as a good investment for several reasons. The first being transaction costs, and the second being Iraq is a basket-case country.

I am a currency/investment analyst for a very large firm, and there is very little appeal for the Iraqi dinar even if it does perform better than the euro. For the next several years, as we unwind this global debt binge, the USD is actually the best piece of toliet paper out there.

The reason for this is that the USD has more debt denominated in it, and as that debt gets defaulted on and paid off, it will rally the most, despite the criminal debasing by the Fed.

Gold is going to be higher in a few years, but it's my opinion that holding USD cash will be about the best investment over the next 3-5 years since virtually every asset on earth will fall during this time. A zero % return will outperform almost all money managers.

[Caddyman]

Interesting comments, thanks for the information.

[BigBets]

my in-laws and wifes side of the family purchased alot. The Dinar when they purchased it was worth nothing, so if it went to .10 they would get a serious frigging return.

It makes sense to invest a little a thousand or so USD is a few millions in Dinar.

[Caddyman]

Originally Posted by BigBets

my in-laws and wifes side of the family purchased alot. The Dinar when they purchased it was worth nothing, so if it went to .10 they would get a serious frigging return.

It makes sense to invest a little a thousand or so USD is a few millions in Dinar.

I can see the idea there. Seems pretty low risk since your not really investing too much into them. I have a few guys that I know buying like $200 worth.