End of the Road for the Dinar Scam?

By Guest Blogger.



Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News.



For several years, con artists have been peddling the myth of a massive revaluation of the Iraqi dinar, but that may be about to change.

Using a range of convoluted arguments, these people push the idea that the dinar will increase to 1,000 times, or even 3,000 times, its current value; they or their associates then profit by selling the currency at a fat profit to people who desparately want to believe that they have found a pot of gold.

In a particularly cruel twist, they often target people who are in financial difficulty, and string them along with the fear that they wouldn’t want to miss out on this once-in-a-history-of-the-world opportunity.

Self-reinforcing online communities have been created, where the unwitting victims can feel that they are finally part of an elite group destined to prosper, just as long as they continue to keep the faith.

Emotional commitment, and a quasi-religious zeal, all play a role: An April Fool article spelling out the utter absurdity of this get-rich-quick scheme was met with widespread anger and hostility in dinar chatrooms.
Anecdotal evidence, however, suggests that even the most diehard “dinarians” are finally starting to accept reality, and that by the end of 2015 this scam may have been consigned to history. Sadly, this will be too late for the many who have been cheated of their savings, their time, and their hope.

• No, the dinar scam will continue, because there's a fool born every minute
  
• Yes, the dinar scam has finally run its course and will soon disappear completely
  
• It's a scam, but no idea how long it will run
  
• It's not a scam - people holding dinars will make 1000x their investment                                                                                                                                           
  
  
•   http://www.iraq-businessnews.com/2015/01/07/poll-end-of-the-road-for-the-dinar-scam/
  
  

I'm going to have to go w/#1.  There does seems to be a fool born every minute and they seems to congregate at TNT.

Without a doubt the scam has been tapering off in popularity since the peak in 2011, but there won't be a widespread die off until (if) Iraq deletes the three zeros (lops). Until then I'm sure it'll keep running the way it has been, 2 or 3 people get out of the scam, one newbie jumps in.

Magnets are a wonderful thing, aren't they?

One can only hope that the people leaving exceed the number of people coming in as suckers.

I'm holding on to mine, my kids or grandkids may have a easier road than me, and if the bills are no longer valuable, my great grandkids or their kids will have a small fortune of uncirculated bills of Iraq once was currency. By the way, I know how this post appears but the Iraq dinar is far from a scam. You buy it and you can sell it back , the scam is what all the gurus preach of the impending RV. I have always called it a investment and always will, I will wait for Iraq to get back on their feet some day as they once was.

I am very sure we have seen this article before somewhere else. It seems to me that when I did a little digging it linked back to an outfit selling silver as an investment.

It wasn't 'Breitling', was it? It slips my mind- It may be here in the archives someplace, I think maybe 2012, somewhere around that time,possibly-

Had to come back to this post to put in the poll thus far:::: 

• It's not a scam - people holding dinars will make 1000x their investment (66%, 93 Votes)
  
• It's a scam, but no idea how long it will run (16%, 22 Votes)
  
• No, the dinar scam will continue, because there's a fool born every minute (15%, 21 Votes)
  
• Yes, the dinar scam has finally run its course and will soon disappear completely (3%, 4 Votes)
  

Where are you getting your 'smoke'? What store is it?

Oh come on now Terbs,You know Ive been hooking up through you for years now.Best stuff just west of the Ponce de leon inlet  

Jayzze talked, didn't he? So much for trying to hide it-

Kevind53 wrote:I am very sure we have seen this article before somewhere else. It seems to me that when I did a little digging it linked back to an outfit selling silver as an investment.

Yup, that's exactly where it is from.