7 Questions for Dinar Speculators

Posted on 29 August 2012 .


By John Lee.
We get many enquiries at Iraq Business News relating to the future of the Iraqi dinar (IQD), for example:

• Will the Iraqi dinar increase in value?
  
• Will the currency be re-denominated, dropping the ‘three zeros’?
  
• Is it wise to buy Iraqi dinar?
  

Firstly, Iraq Business News is not in a position to give investment advice. Our mission is to provide our readers with the highest quality information on the business and economy of Iraq.

As the value of the Iraqi dinar affects trade, we will continue to report on any possible re-valuations and/or redenominations as soon as information is available.
We hope that this information will be useful to the key decision-makers in Iraqi business, and to all who are interested in the development of the country; gamblers and people involved in get-rich-quick schemes/scams are not our target readership.
It’s clear from the correspondence we receive that some people, who like to think of themselves as ‘investors’, genuinely believe that at the stroke of a pen they will make a 1,000-fold return on their purchase of dinars.

Those people might like to consider some questions before putting any further funds at risk:

Those people might like to consider some questions before putting any further funds at risk:

1. If the dinar becomes 1,000 times more valuable, it will become 1,000 times more expensive to do business in Iraq. Do you think this would be sustainable?
   
2. Would you buy dinars at 1,000 times the current price? If not, why do you expect someone to buy your dinars at 1,000 times what you paid for them?
   
3. If there was any possibility of a 1,000x revaluation, would dinar sellers be so keen to sell their stock to you? Is it possible that they think their mark-up is the best profit they can make?
   
4. Many investment professionals promote their ideas and “talk their book”. Why has no accomplished investor promoted the idea of massive gains from the dinar?
   
5. The 1,000x rumour has been circulating for many years, but the forex markets have not reacted by driving up dinar prices significantly. On what basis do you believe you’re more “in the know” than the market?
   
6. Does scepticism of massive gains from the dinar make you angry? If so, and if you think you’re going to make 1,000 times your money, what is the reason for your anger?
   
7. Do you seek information that confirms your opinion, and dismiss information that challenges your opinion?
   

We hope these questions will help speculators and potential speculators in their decision making. Please feel free to share your opinions in the Comments section below.

Best Wishes,
Your Iraq Business News Team.

763 Responses to “7 Questions for Dinar Speculators”

[list=commentlist]
[*] Barry says:
August 20, 2014 at 5:54 pm
brian - “the only people who should naturally be visiting dinar web sites are people with a genuine interest”
Spoken like a true control freak… First of all Iraq Business News isn’t a “Dinar” site, it’s about serious investing in Iraq’s economy. So you’re the one who’s on the wrong site if all you want is to pump your scam. Secondly, your rather absurd claim is as deluded as saying “only people who own stocks should be allowed to talk about the economy”. There is no “genuine interest” in the “RV” precisely because it’s a scam.
brian – “I suggest you report back to your government agency”
karen – “You have convinced me that you have something to hide”
“Anyone who doesn’t cheer-lead my scam is a CIA agent”. Good Lord. Just listen to your two hysterically paranoid ego’s. Like a pair of 9 year old’s trapped inside the bodies of adults. LOL. Wrong answer. I do not nor ever have worked for any govt agency. Dry your eyes and deal with it. Take a deep breath, a time out, calm down and try again, as the only thing you’ve accomplished is ironically to perfectly personify everything I mentioned here earlier on regarding childish “guru slogan” responses thrown out like confetti by chronically insecure individuals with cult-like mindsets who are utterly terrified of engaging or even witnessing simple open honest fact-based debate…
[*] John Richardson says:
August 20, 2014 at 6:01 pm
One amazing thing about this “RV” scam is the almost total complete mental split from reality by its followers and the juvenile attempts at wrapping any challenge to the “hive mindset” in deluded paranoid conspiracies to “keep the dream alive”:-
If I lent you €10 for $13.3 (you buying Dinar from me), and then when we swapped back you laughably “demanded” $54,643 for same €10 note (your guru’s dream of “cashing in” by arbitrarily declaring it to be worth 4,000x more for no reason), would that make *me* (Iraq) richer or poorer if I bought $13.3 for €10 then had to buy back the €10 for a deluded $54,643? It would in fact leave me (Iraq) 4,000x poorer. So why in God’s name do people think Iraq will happily make themselves 4,000x poorer having to acquire then give away $302,000bn worth of Dollars (which is impossible since the whole global economy is only around $80tn and there are barely 5% of that figure of US Dollars in circulation across the entire planet) in order to “buy back” what’s still only $75bn worth of national currency? It would in reality bankrupt the whole nation of Iraq within the space of an hour and given them a quality of life 500x lower than Ethiopia. Deluded beyond belief…
In years to come, psychologists are going to look back on this scam as the pinnacle of “Internet + gullibility + suspension of disbelief” = “Go 350,000% RV!”. [Shakes head in disbelief]…
[*] maria cornwallis says:
August 20, 2014 at 11:27 pm
There is some devious reason why there are several certain persons visiting this site on a regular basis. They state that they do not believe that the Iraqi dinar will be revalued to it’s natural level so why are they here. Their purpose is to try to make me and others sell my dinars at a rock bottom value or persuade me not to buy them initially. Who they are I do not know and nor do I care but the more they come up with unbelievable thirteen letter words and facts and figures which are meant to stun us all into submission, the more it convinces me that the revaluation is imminent. The Baghdad government is a changed place since two weeks ago and all the right people are in the right places, not like in the Maliki regime. The new members will be announced next Monday and the RV will be done within days. The dinar is about to return to it’s natural position as the currency of one of the world’s economic power houses and future donar country to the International Monetary Fund. Please don’t waste your time answering this as I will not be returning to this place. (Sam I Am = Uncle Sam. ha ha )
[*] Editor says:
August 20, 2014 at 11:39 pm
Readers may be interested to note that comments from “brian wells”, “karen belford” and “maria cornwallis″ have all been sent from the same IP address.
– Editor.
[*] Stew says:
August 21, 2014 at 12:19 am
Too funny. Probably the same ip address as many other posters from the past also.
[*] Stew says:
August 21, 2014 at 12:49 am
I’d love to know who “brian wells”, “karen belford” and “maria cornwallis″ really is and what dinar site they hang out at or run.
Maria Conrwallis has been posting about dinar on youtube videos and other sites for years, always predicting a RV any day now.
[*] Barry says:
August 21, 2014 at 7:57 am
Editor - “Readers may be interested to note that comments from “brian wells”, “karen belford” and “maria cornwallis″ have all been sent from the same IP address.”
Thanks for the “heads up” editor!
So a scammer troll (one of many relating to the “RV” scam) creates 3 different fake profiles of different genders from the same computer, then sits there talking to him/herself to try and look more popular than he/she is, “maria cornwallis” then posts such idiotic gems on Youtube as “You don’t even know if Iraq invaded kuwait or vice versa” (so “Kuwait really invaded Iraq in 1990″ now, did they?…), then accuses everyone else except him/herself of “having a devious reason for posting” with what’s essentially “Orwellian Turnspeak” (being guilty of exactly the same thing you falsely accuse other of)? There are some things in life you simply cannot make up even if you were writing a comedy sketch show…
Even trying to hold a semi-lucid conversation with these nutjobs is like being sucked into a Stargate and ending up in a parallel universe where black is white, up is down, “Kuwait really invaded Iraq”, etc. The longer this scam goes on the more visibly desperate, childish and panicky these amateurish pumpers become, hitting sleazy new lows every week…
[*] Factfinder says:
August 21, 2014 at 9:51 am
Loads and loads of disinformation on both sides of this argument!
HERE IS SOME INFO THAT IS LOGICAL SOLELY BECAUSE THE NUMBERS DO ADD UP!
…..1) The Iraqi dinar will lop three zeros in a re denomination and then revalue to competitive rates in the region. ….Likely just below $4.00, giving main street participants about triple value of what they spent.
…..2) The Vietnamese Dong will lop 4 zeros. …Currency holders will make small profits, but rates will be low enough that one would have to have purchased trillions of Dong for substantial returns.
…..3) The Zimbabwe dollar will lop 6 more zeros. ….But it must be remembered that those bills already have had 6 zeros lopped in a previous re denomination. ….That means you have to take 12 zeros off of the bills at redemption(that means a 50 trillion Z-dollar note will redeem for 50 new Z-dollars).
…..SO, NONE OF THESE PLAYS ARE GOING TO MAKE YOU INSTANT MILLIONAIRES, BUT THERE IS ROOM FOR SOME GAINS! …SAVVY INVESTORS ARE PLAYING FOR THE GAIN, WHILE THE LEMMINGS OF THIS WORLD ARE BLINDLY ACTING OUT THEIR LIVES LIKE THEY ARE ALREADY LOTTERY MILLIONAIRES!
……THE DAMAGE IS PITIFUL, AND MOST OF IT IS INTENTIONAL!
[*] kev says:
August 21, 2014 at 10:55 am
Factfinder: “Loads and loads of disinformation on both sides of this argument!”
Ah that special “fact” guy who pretend to be “neutral” whilst aggressively pumping the RV scam and ignoring all genuine facts given to him returns… There’s nothing remotely “logical” about your trolling, starting with the fact Zimbabwe abandoned the Zimbabwe dollar 5.5 years ago:-
“Zimbabwe abandons its currency”
“The country is in the grip of world-record hyperinflation which has left the Zimbabwean dollar virtually worthless – 231,000,000% inflation in July 2008, the most recent figure released. A 40-year-old Zimbabwean primary school teacher from the capital Harare, told the BBC news website earlier this week it cost nearly US $2 a day to travel to work, but inflation had reduced the average teacher’s wage to the equivalent of US $1 a month.”
http://news.bbc.co.uk/1/hi/world/africa/7859033.stm
231 million percent inflation per month and 658% billion percent money supply growth (in 2008 alone) as a result of printing over 100 quadrillion banknotes? Yeah great “undervalued” investment man…
And nor is someone going to give you $300tn (4x planet Earth’s worth of money) for each $1 banknote. Say you own 500x of them – where are you going to find 2,000x planet Earth’s worth of Dollars? If that’s “logical” to you, you need to up the medication. LOL…
Repeat after me : Hyper-inflation is not “forgotten wealth”, hyper-inflation is not “forgotten wealth”, hyper-inflation is not “forgotten wealth”…
[*] Barry says:
August 21, 2014 at 11:38 am
“Fact”finder – “HERE IS SOME INFO THAT IS LOGICAL SOLELY BECAUSE THE NUMBERS DO ADD UP!”
ROFL. And just as one trashy scammer is outed as a total fraud, another returns… For a “FactFinder” you seem remarkable unable to find even the most basic well-known facts on the subjects you speak. Example : The Zimbabwe Dollar isn’t even a usable currency anymore even inside Zimbabwe. It’s been officially abandoned since 2009. Most people in Zimbabwe are primarily using South African Rand’s since 2009 plus a few Euro’s & Dollars. Most street traders won’t even accept ZWD’s anymore:-
“The [Zimbabwe] dollar was effectively abandoned as an official currency on 12 April 2009 when the Economic Planning Minister Elton Mangoma confirmed the suspension of the national currency. On 29 January 2014 the Zimbabwe central bank announced that the US dollar, South African rand, Botswana pula, UK pound, Euro, Australian dollar, Chinese renminbi, Indian rupee and Japanese yen would all be accepted as legal currency within the country.”
http://en.wikipedia.org/wiki/Zimbabwean_dollar#Abandonment
Amazing that it takes me 12 seconds to find what RVaholics spending “years of factfinding due diligent research” still “can’t find” on heavily censored guru forums. Well you won’t, you’re looking in the wrong place if you want genuine facts…
As for the rest of your post, this is the same laughable joke that the scammers churn out to the clueless – you run round picking the 10x world’s most over-inflated weakest currencies with 3 or more zeros after them, ignore every factual reason why they fell (universally chronic / hyper-inflation from printing too much money) then “pretend” they “must be undervalued” because they “never must really suffered from inflation” in stark denial of reality where all these countries all have loaves of bread priced from 1,000 to 1 billion local currency units (ie, as a result of hyper-inflation).
Reality check:-
- Iraq : The Dinar fell 4,000x fold because Iraq printed 4,000x more money (20bn Dinar 1980’s to 87,700bn Dinar today) and suffered from 315% annual chronic inflation between 1987 and 1995. Even by 1991, $1 = 10 Dinar. By 1995, $1 = less than 1000. It’s a 100% guru lie “it was worth $3 up to 2003 and only fell due to the 2003 war“.
- Vietnam : Vietnam underwent a chaotic & hyperinflation period in late 1980s, with inflation peaking at 774% in 1988 as a result of printing over 3.5 quadrillion (3,519tn or 3,519,000bn) banknotes. Since “RV guru’s” started pumping it as an investment, it has fallen a further 25% vs the USD leaving “investors” losing almost 80% of their “investment” after rip-off exchange fees (ie, they sell 1m Dong (worth $47) for $78, then you lose another equally large cut again “buy-back” then losing 25% of what’s left.)
- Zimbabwe : The Zimbabwe money is so large it’s now measured as “10 to the power of 17″ rather than conventional numbers. Their hyper-inflation rates are in the millions of percent per month, etc, and the currency is now officially dead and untradable even inside Zimbabwe. You’d have to be an extremely “special person” to pump that.
Same goes with every other “3 zero currency” the “RV” scammers are pumping:-
- The 1508:1 Lebanese Pound is weak because Lebanon have printed 70tn (70,691bn) Lebanese Pounds. It’s called inflation.
- The 1070:1 South Korean Won is weak because South Korea have printed a staggeringly huge money supply of 1.99 quadrillion Won (1,997tn or 1,997,547bn Dong). It’s called inflation.
- The 26574:1 Iranian Rial is weak because Iran have printed a staggering huge money supply of over 4.5 quadrillion Rial (4,500tn or 4,500,000bn Rial). It’s called inflation.
- The 11678:1 Indonesian Rupiah is weak because Indonesia have printed a staggeringly huge money supply of 3.86 quadrillion Rupiah (3,862tn or 3,861,659n Rupiah). It’s called inflation.
- The 1917:1 Colombian Peso is weak because Colombia have printed a very high money supply of 351tn Peso (351,186bn Peso). It’s called inflation.
- The 10404:1 Belarusian Ruble is weak because Belarus have printed 90tn (89,766bn) Ruble’s and have almost no reserves. It’s called inflation.
People genuinely interested in the facts (of which you are not as proven in past exchanges) can easily verify these figures themselves and see the giant elephant staring at them in the face the whole time. Every one of these currencies “RV” scammers are pumping is not “secretly under-valued”, it is simply chronically / hyper-inflated, and the only “cure” for that is a lop. Always has been, always will be.
[*] Factfinder says:
August 21, 2014 at 6:13 pm
Nice to see Kev and Barry have turned rabid in their quest to demonize the GCR. …..Not worth the effort to refute, but they are obviously biased to the point of total disregard.
“EDUCATION IS MAN’S GOING FORWARD FROM COCKSURE IGNORANCE TO THOUGHTFUL UNCERTAINTY”
[*] Barry says:
August 21, 2014 at 7:16 pm
Factfinder - “Not worth the effort to refute”
That’s quite simply because you can’t. Because the facts aren’t on your side. Just like last time…
[*] Stew says:
August 22, 2014 at 12:08 am
Factfinder.
There have been about 100 redenominations in last 50 or so years. Can you please tell me which ones, or even just one, that lopped and then RVd upward 300% like you are claiming Iraq will? Find one that even RV up 10% for that matter.
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