Iraqi Dinar, play or stay

[Answer2me]

So the Iraqi dinar is currently trading at 1\10 a penny and with the potential of the US to lift chapter 7 sanctions, it is looking very attractive. Play or stay, and reason..................................

[midnight rambler]

Considering that the US$ is doomed and that Iraq actually has beau coup assets in the form of oil, I'd have to say that the Dinar is a pretty sure bet right now. Dunno if I would quit loading up on PMs in favor of the Dinar, but as a side bet the Dinar looks very attractive to me.

[Answer2me]

@ midnight rambler

My thoughts exactly. The US cant hold them down forever. My only hesitation is the idea of a euro style gulf currency. There have been talks. But whats a good speculation without risk?

[chad]

anything that i have to trade exclusively via forex or ebay i stay away from.

[palani]

I doubt if military script is ever a good investment. There are exceptions though ... like black market?

[midnight rambler]

I doubt if military script is ever a good investment. There are exceptions though ... like black market?


I think you're referring to military scrip and not military script.

By the same token (pardon the pun), the US$ is arguably scrip, since the US is definitely in an emergency (since at least March 9, 1933).

[osoab]

So the Iraqi dinar is currently trading at 1\10 a penny and with the potential of the US to lift chapter 7 sanctions, it is looking very attractive. Play or stay, and reason..................................



Well,

How long of a trade is it for you. 10yrs, 6 months? If the SHTF in the meantime Iraqi Dinars probably won't float well around the states if you plan on getting physical money. If you are getting physical, where would you sell? Is there a market?

If you are doing forex, what is the spread on in and out? If the SHTF, I would bet access to your account would be denied.
With forex, I think you have to look at the commissions on the trade. I don't know how much cash you are trying to invest, if 1,000, I would put it to better uses elsewhere. 10,000 probably still a small trade.
I looked at this website for Forex spreads (http://fxtrade.oanda.com/why/spreads/comparison). Are you even able to trade the two currencies?

If it's cash you are willing to blow, then do it. I haven't researched the probable conversion rates.

If we do however allow it to float, don't you think that the MIC will do everything in its power to keep that currency subdued for cheap oil?

[Libertytree]

I have a friend/customer that's all into the Dinar scheme, mostly his brother but my guy has spent a few hundred on this as well while I suspect his brother has spent thousands!

He knows my overall outlook on economics/metals/politics etc and we talk freely but I still can't get through to him about PM's, yet he's willing to invest in some type of scrip! I did the research on the Dinar and the only Dinar that's going to be served is crow.

[buyingsilvers]

I know people who have spent thousands on this as well...

IONO about playing with foreign currency. Paper is paper, and if they go on a printing spree, then their money will decline faster than the dollar is, as is the case with many 3rd world countries.

If the iraqi dinar was backed against barrels of crude, might be a different story.

[Answer2me]

So the Iraqi dinar is currently trading at 1\10 a penny and with the potential of the US to lift chapter 7 sanctions, it is looking very attractive. Play or stay, and reason..................................



Well,

How long of a trade is it for you. 10yrs, 6 months? If the SHTF in the meantime Iraqi Dinars probably won't float well around the states if you plan on getting physical money. If you are getting physical, where would you sell? Is there a market?

If you are doing forex, what is the spread on in and out? If the SHTF, I would bet access to your account would be denied.
With forex, I think you have to look at the commissions on the trade. I don't know how much cash you are trying to invest, if 1,000, I would put it to better uses elsewhere. 10,000 probably still a small trade.
I looked at this website for Forex spreads (http://fxtrade.oanda.com/why/spreads/comparison). Are you even able to trade the two currencies?

If it's cash you are willing to blow, then do it. I haven't researched the probable conversion rates.

If we do however allow it to float, don't you think that the MIC will do everything in its power to keep that currency subdued for cheap oil?


@osoab

How long of a trade is it for you. 10yrs, 6 months?

I would hold it as long as it would take. My reservation is that they might replace it somewhere along the path.

If the SHTF in the meantime Iraqi Dinars probably won't float well around the states if you plan on getting physical money. If you are getting physical, where would you sell?

Most Brick and mortar banks can get you any kind of hard currency you want. My local bank charges $25 for any dollar amount of a single currency. They will also buy back at the same $25 fee.

Is there a market?

I dunno. Seems like this dinar trade could potientialy be a big scam or a huge pay off.

[Answer2me]

I have a friend/customer that's all into the Dinar scheme, mostly his brother but my guy has spent a few hundred on this as well while I suspect his brother has spent thousands!

\]


It is starting to look like a "scheme".