Iraqi Dinar Not A Scam - Six Years Ago

Originally posted:

http://hopetoprosper.com/lessons-from-the-iraqi-dinar-scam/

I believe this is the same guy, he joined Dinar Vets exactly two days before leaving this long comment below:

http://dinarvets.com/forums/index.php?/profile/26206-kevindad1/

Curtidayne
December 26, 2010 at 3:53 AM

Fortunately, I don’t agree. I was also tipped about this Dinar investment and decided to exercise some diligence myself.


First of all, yes there are quite a bit of publications advising against this investment. I would like to refer to most of these publications as propaganda, the rest I would not bother with because they are outdated by at least a couple of years. On that note, I would like to remind you that if anyone were to assume that our media and internet are not subject to censorship or disinformation by our government or the powers that be, then that person would be operating on a very naive thought process.
Before China revalued their currency, they purchased print space in a few of our nations most respectable news publications stating that China had no intentions of revaluing their currency but, within the same week, it was revalued.


Secondly, I have established contacts as far as Iraq and Dubai and all are confirming the same thing. The Dinar will revalue before the end of 2010. On December 21st(this year), Shabibi, head of the Central Bank of Iraq, stated that it was the goal of the Central bank of Iraq to revalue the Iraqi Dinar in an effort to give it purchasing power. This was his statement less than a week ago. Maliki, the prime mister of Iraq, backed this up on December 23rd by reiterating the very same intentions. With this kind of talk from the gentleman responsible for a revalue of the Iraqi currency, maybe it’s time to stop buying into all the negative propaganda. I am not saying to avoid it, just do your homework and differentiate fact from disinformation.


I will tell you that my wife works at a local bank, who, by the way, offers to sell and buy the dinar regardless of the exchange rate. This means that you do not have to travel to Iraq to cash in on this investment. There was also a presidential order by none other than one of the architects of this deal, George W. Bush, stating that the american citizens have the same rights as Iraqi citizens to invest in the Iraqi Dinar.


Third…just because Iraq operates on a floating exchange rate system, does not mean they aren’t aloud to revalue their currency. That power rests with the central bank as it has for years. Even our federal reserve could revalue our currency if they wanted to. In fact, they do all the time. When the Federal Reserve, otherwise known as the Central Bank of the United States, prints money, the market is flooded with more hard currency, inflation rises, and our dollar’s value fluctuates down. They are able to do this because they are a privately owned institution separate from our government and would require only limited legislation if any at all to operate.


Another thing to consider is the fallacy that the pre-war value of the Dinar was set by Saddam and not a true reflection of the country’s worth. Kuwait has, currently, the highest valued currency in the world based almost primarily on their oil assets. It would take $3.70 USD to match just one of their Dinar. Iraq is the second largest holder of oil reserves in the world and has the ability and the means to produce it faster than even Kuwait. Sectarian violence has decreased dramatically. Our troops are pulling out. The new government is seated, and their trade and export/import embargos have been lifted. The 2011 Iraq budget will be law as of 1-1-2011.


This budget is higher than their 2010 budget. Except now, they are receiving NO money from the IMF whereas their 2010 budget was covered, in part, by loans from the IMF. So how can Iraq operate on a higher budget, producing a higher deficit than last year, with out the financial backing? Simple, make their currency more valuable.


Not to mention that in order for the Dinar to become an internationally recognized currency, and in light of the lifted sanction, it must be internationally recognized to take part in the Foreign Exchange, it would have to be revalued.


Finally, the Paris group is an investment group to which Iraq is in debt for over 40 billion USD. They have offered to forgive the debt to a mere 9 billion USD if Iraq revalues their currency by the end of 2010.


So, after all of my research and self-diligence, my wife and I decided to trade up for some dinar. Keep in mind that if this revaluation does not happen, I can go down to my wife’s work and exchange them back to USD. The loss would be only the difference between the buy and sell exchange rates, less than twenty percent. How often do you go to a casino and always walk out of there with at least 80% of what you walked in with?


Is the Iraqi Dinar a gamble? Absolutely, but it is extremely low risk with, potentially, a high return. Just purchase through a certified currency broker.

BACK TO 2016

What do you guys think of this? The dude is still lost.

Low Risk?  Buy from a certified currency broker....  like Sterling???   Wonder what the author of this thinks about his 'investment' today.