8-30-2012 Enorrste (Response to IBN): This is sustainable because the current rate of the dinar in Iraq is artificially low. The rate was $3.50 during and prior to the Saddam Hussein regime.
It was lowered intentionally by the UN in order to drive out the profitability of terrorism. I would ask this Question: In reducing the value of the dinar by 1000 times (or more, actually), why didn’t everyone flood into Iraq to invest and buy? Iraq’s economy should have boomed with everything so cheap, right?
Yet that did not happen. We may therefore safely state that the premise of the poser’s question is inappropriate. The reason it is inappropriate is that the current rate is artificially low and it is NOT internationally tradable. Bottom line: investment in Iraq is currently made in DOLLARS, not dinars. End of argument.
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I will probably buy dinars at 1000 times the current rate because I believe that eventually (within a couple of years) the rate will reach $3.50, meaning that I will triple (plus) my investment again.
This guy is ignorant! Sellers of dinars make a COMMISSION on the sale regardless of the rate. Their markup will remain the same WHATEVER the rate! Their profit is the same WHATEVER the rate! Duh! They are money exchangers. They are not in this for profit ON the rate.
There are a number of people who have spoken affirmatively about the dinar as an investment.
The poser of this question has not taken the time to find them. One was on TV last year claiming that it would be the best single investment in a lifetime (!) and he has a regular TV investment show that runs DAILY! He dropped the topic for some reason. We can only guess what it was, but I presume that he was told to “lay off” on dinar talk.
Therefore we might not be surprised that there is little more among the normal investment community on this issue. I might add, incidentally, that I’ve been told that Trump has $30 million in dinars and that the Clintons have over $2 million in dinars. I have no reason to doubt this since the former was printed in USA Today over a year ago. Therefore, let’s ask the poser this question: If this is good enough for Trump, why isn’t it good enough for you?
Once again the poser is ignorant. The dinar is NOT traded on the open market, including the FOREX! Therefore, the premise of the question is false. Second, since all dinars are initially sold from the CBI, the CBI is therefore in control of supply.
With a very limited market (physical dinar dealers only) it is quite easy for Shabibi to control the price. There is NO SPECULATIVE MARKET FOR THE DINAR!
I have welcomed challenges from dinar investors and have answered all who have dared to approach me on the issue. In addition, I take pride in being able to state without equivocation that we do not “bury” articles just because they appear to refute our position. In fact, we welcome ALL articles and deal with them just as we do anything else: honestly!