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From GetSmarter.Com: What are some benefits for Americans to invest in Iraqi dinars?
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From GetSmarter.Com: What are some benefits for Americans to invest in Iraqi dinars?
by RamblerNash Tue Dec 15, 2015 10:05 am
Q: What are some benefits for Americans to invest in Iraqi dinars?
A: Quick Answer
Investing in Iraqi dinars offers no benefit to Americans. The federal government and multiple state governments classify Iraqi dinars investments as scams. The Federal Bureau of Investigation encourages investors contacted about Iraqi dinars opportunities to file a report.
States that warn residents not to invest in Iraqi dinars include Alabama, Oklahoma, Utah and Washington. The Better Business Bureau classifies Iraqi dinar investments as one of its top scams, citing how difficult the dinar is to sell and its low value.
Americans do not receive any special protections against attachments, liens or other legal actions when investing in dinars. While there is an executive order that protects oil products and other American investments in Iraq, this does not include dinars or other currency investments. A 2012 federal indictment against the investment firm BH Group confirms that these protections specifically exclude Iraqi dinar investments.
Iraqi dinars are difficult to sell because they cannot be exchanged at most currency exchanges outside of Iraq. Major U.S. banks such as Wells Fargo have policies against trading in Iraqi dinars due to the prevalence of investment scams. Another disadvantage is that dealers sell Iraqi dinar investments at inflated prices, making it difficult for investors to profit even when Iraqi dinars increase in value.
http://get.smarter.com/qa/business-finance/benefits-americans-invest-iraqi-dinars-f18da2a04109aa65
A: Quick Answer
Investing in Iraqi dinars offers no benefit to Americans. The federal government and multiple state governments classify Iraqi dinars investments as scams. The Federal Bureau of Investigation encourages investors contacted about Iraqi dinars opportunities to file a report.
Full Answer
States that warn residents not to invest in Iraqi dinars include Alabama, Oklahoma, Utah and Washington. The Better Business Bureau classifies Iraqi dinar investments as one of its top scams, citing how difficult the dinar is to sell and its low value.
Americans do not receive any special protections against attachments, liens or other legal actions when investing in dinars. While there is an executive order that protects oil products and other American investments in Iraq, this does not include dinars or other currency investments. A 2012 federal indictment against the investment firm BH Group confirms that these protections specifically exclude Iraqi dinar investments.
Iraqi dinars are difficult to sell because they cannot be exchanged at most currency exchanges outside of Iraq. Major U.S. banks such as Wells Fargo have policies against trading in Iraqi dinars due to the prevalence of investment scams. Another disadvantage is that dealers sell Iraqi dinar investments at inflated prices, making it difficult for investors to profit even when Iraqi dinars increase in value.
http://get.smarter.com/qa/business-finance/benefits-americans-invest-iraqi-dinars-f18da2a04109aa65
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Re: From GetSmarter.Com: What are some benefits for Americans to invest in Iraqi dinars?
by tony4320 Tue Dec 15, 2015 11:14 am
United States purchased around $4 trillion Iraqi dinars for a price of $1 per 4,000 dinars. I guess that makes the USA a stupid investor as well...
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Re: From GetSmarter.Com: What are some benefits for Americans to invest in Iraqi dinars?
by Ssmith Tue Dec 15, 2015 11:17 am
tony4320 wrote:United States purchased around $4 trillion Iraqi dinars for a price of $1 per 4,000 dinars. I guess that makes the USA a stupid investor as well...
Link please?
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Re: From GetSmarter.Com: What are some benefits for Americans to invest in Iraqi dinars?
by RamblerNash Tue Dec 15, 2015 11:19 am
tony4320 wrote:United States purchased around $4 trillion Iraqi dinars for a price of $1 per 4,000 dinars. I guess that makes the USA a stupid investor as well...
Link please?
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Re: From GetSmarter.Com: What are some benefits for Americans to invest in Iraqi dinars?
by Ssmith Tue Dec 15, 2015 11:26 am
On page 5 of the BH Group Indictment, it says "that the US Department of Treasury does not hold any Iraqi Dinar for investment purposes and holds only a nominal amount for use in daily operations".
On page 7 of the BH Group indictment, the USA says they were making False Claims of the US Treasury holding Dinar.
Here's the link to the indictment: http://ftpcontent.worldnow.com/wtvg/docs/120920_BHgroup.pdf
On page 7 of the BH Group indictment, the USA says they were making False Claims of the US Treasury holding Dinar.
Here's the link to the indictment: http://ftpcontent.worldnow.com/wtvg/docs/120920_BHgroup.pdf
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Re: From GetSmarter.Com: What are some benefits for Americans to invest in Iraqi dinars?
by Terbo56 Tue Dec 15, 2015 12:08 pm
Just don't buy dinar in the first place-
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