Post By IQDCrazy Post From Dinar Detectives
2-14-13 IQDCrazy: Why wont the Iraqi Dinar scam Die? Definition of a scam.A fraudulent business scheme; a swindle. tr.v. scammed, scamming, scams. To defraud; swindle.
In order for the Iraqi Dinar to be a scam, one the person would not receive merchandise and two it would have to have a proven track record of loss. Neither exist so it is not a scam.
In the thought that any currency is going to make you a millionaire overnight is Stupidity not a scam, used car dealers say your buying a great car and it breaks down every other day and it doesn't mean its a scam. You get what you pay for.
If people believe they will become a millionaire overnight by investing $100 dollars they just don’t use their brains but it doesn’t make the dinar a scam.
Sadam Hussein created the fake rate of $3.22 in 1982 and it was never declared or tested sustainable?
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The currency of a country is the currency of a country no matter what president implemented it. The Iraqi Dinar was established by the British in 1932 when it was worth $4.86 USD per Dinar from 1949-1971 it was worth $2.80 against the USD and in 1973 which is 10 years before Saddam Hussein it was worth $3.39 against the US Dollar.
In 1982-1988 the Great war of the Persian Gulf took place and the currency was $3.22 Saddam was an allie of America. We gave him Weapons to Remove Irans government. Reagan Armed Saddam with Chemical Weapons and Great britain also sold him Bilogical Weapons.
The Rate of the currency never went down until 1990 when the United Nations hit Iraq with chapter 7 Sanctions for the illegal invasion of Kuwait.
The Iraqi Dinar is not freely traded and so the small trading value is not comparable to the FOREX markets so it makes Iraqi Dinar immaterial?
There are multiple types of FOREX traders, thoose that trade before a government becomes stable and thoose that make $.10 on a $100.00 investment and feel happy. This is the same as real estate investing.
You can buy a broken house, repair it and flip it, even hold on to it and rent it for a while or you can buy the house before its built and make no repairs and make 2-3 times return on your investment without moving a finger. Sure you don’t have as many investment opportunities but you make more money because there is less people doing it.
The CBI does not want free trade of IQD and it is tightly controlled so how will it appreciate or ever Revalue?
This is just plain stupid, when a country is stabilizing it self the more that goes out the more that must be paid internationally it makes it harder to stabilize the country.
If they increase the value of there money and trade on forex and the country is not stable it can collapse. The CBI does not want external investment it wants internal investment.
There are comparisons done with Venezuela’s government because of Oil reserves? If Venezuela is not rich why should Iraq be Rich?
I would Invest in Venezula in a heart beat if the president would be changed today, I would sell my house empty my bank and put it into Venezuela. The currency today sits at about ¼ value of the US Dollar. Before the Hugo Chavez another form of Sadam Hussein the money has been as high as $4.30 and as low as .05 cents against the dollar.
When you remove the government you win every time that its causing a problem. This is Economics, if a government doesnt want to benefit everyone the international community will shut it down. If you thought the Iraqi Dinar was going to go up in Value, would you sell it?
This is hard for many to understand but bare with me some common sense please, if you know that on average it takes a country 5 to 10 years to recover and you can make it into a business to accumulate more Dinar than you can working a 9 to 5 job would you buy 100,000 or a million or would you if you believed in something as much as a religion or your family, sell all you have and get loans out and do whatever in your power to buy and sell as much as you can in order to buy more and more.
It’s not about selling Dinar or any other currency, it’s about having faith, doing research and understanding it takes time and in the mean time I will make money to buy more Dinar and more Dinar.
Then jump to another currency or commodity. Iraqi Dinar Dealer have a bigger obsession than you, the only difference is they know it will not happen overnight but they know it will happen.