Bizcovering > Investing

The Iraqi Dinar Scam

by Ender, Apr 4, 2007

(contd.)
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50 Dinar Note = $0.60

250 Dinar Note = $0.96

500 Dinar Note = $1.56

1,000 Dinar Note = $1.90

5,000 Dinar Note = $8.80

10,000 Dinar Note = $12.99

25,000 Dinar Note = $29.99

50 Dinar - 100 Note Bundle - (5,000 NID) = $29.95

250 Dinar - 100 Note Bundle - (25,000 NID) = $54.95

500 Dinar - 100 Note Bundle - (50,000 NID) = $74.95

1,000 Dinar - 100 Note Bundle - (100,000 NID) = $139.95

5,000 Dinar - 100 Note Bundle - (500,000 NID) = $580

10,000 Dinar - 100 Note Bundle - (1,000,000 NID) = $979

25,000 Dinar - 100 Note Bundle - (2,500,000 NID) = $2,372

Dinar 6 Pack - 6 Different Notes - (41,300 NID) = $56.99

Dinar 7 Pack - All 7 Notes - (41,800 NID) = $58.99

25,000 Dinar - 4 Note Pack - (100,000 NID) = $119.99

10,000 Dinar - 10 Note Pack - (100,000 NID) = $124.99

ME Banknotes

http://www.mebanknotes.com/iraqidinar/iraqidinar.html

This website is a dealer of all banknotes, not specifically Iraqi Dinars. It also offers Iraqi Dinars for sale in the section of the website the link above will take you to. The website sells individual notes and packs.

500 Dinar Note = $1.50

5,000 Dinar Note = $5

10,000 Dinar Note = $10

25,000 Dinar Note = $25

3 Low Dinar Notes (50, 250 and 1,000) = $2

All 7 Note Pack - (41,800 NID) = $41

25,000 Note Packs - (100,000 NID) = $97

(250,000 NID) = $220

(500,000 NID) = $430

(1,000,000 NID) = $850

Best Deals on the Internet

Please remember, I cannot vouch for how trustworthy these dealers are, only for their prices. The following are the cheapest internet dealers.

The cheapest for Twenty Five Thousand Dinars:

It was an exact tie.

SCGS - $24.98

http://scgs.us/index.php

First Dinar Financial Group - $24.98

http://firstdinarfinancialgroup.com/

The cheapest for Fifty Thousand Dinars:

This one was another exact tie. To get the listed price, simply order two 25,000 dinar notes.

SCGS - $49.96

http://scgs.us/index.php

First Dinar Financial Group - $49.96

http://firstdinarfinancialgroup.com/

The cheapest for One Hundred Thousand Dinars:

ME Banknotes - $97 US

http://www.mebanknotes.com/iraqidinar/iraqidinar.html

The cheapest per Five Hundred Thousand Dinars:

US Dinar - $400 US

http://www.usdinar.com/

The cheapest per Million Dinars, regardless of how many million dinars you wish to buy:

US Dinar - $740 US

http://www.usdinar.com/

The cheapest set of notes (1 of every dinar denomination):

ME Banknotes - $41 US

http://www.mebanknotes.com/iraqidinar/iraqidinar.html

eBay New Iraqi Dinar Dealers

www.ebay.com

The selling of Iraqi Dinars has become phenomenonally huge on eBay. Once again, the trustworthiness of these dealers is questionable. However eBay has the advantage of a feedback system. Every person who buys anything from an eBay seller leaves feedback on that seller. Therefore, by checking the Dinar Dealer's feedback, you can see if other buyers received their dinars after purchase. I cannot list any prices here, as the auctions only last for a maximum of 10 days. I can tell you that usually you will pay as much or more for your dinars using eBay as you would with any of the websites listed. Occasionally you can pick up a bargain, but usually the competition between buyers drives the prices up considerably. One advantage of buying through eBay is the PayPal system, which protects your credit card details, meaning a dealer can't commit credit card fraud using your details.

Dealers I have tested

As promised, here is a list of the dealers whom I have tested, by buying dinars off them. All delivered the dinars in perfect condition as promised. I am not affiliated with any of these sellers in any way. Below are the eBay user names of dealers that I have tested and have proved reliable.

Trustworthy eBay Sellers

  • drivesforall
  • llihnamron
  • theiraqidinarcompany
  • usgreatdeal (This is the eBay presence of US Dinar.com).
  • centralholesale (This seller was no longer registered at eBay as of 4th September 2006, if this seller re-registers, you can trust this seller)

Conclusion

I do not in anyway advocate the buying of Iraqi dinars. If you feel you must buy Iraqi dinars, only buy what you can afford to lose. Think, how much money can I afford to throw down the drain, because that is the equivalent of what you are doing. If dinars ever become valuable, it won't be for at least 5-10 years. Your money will be frozen because there is nowhere to sell your dinars if you desperately need the money.

If you are going to buy dinars, and you want to use a dealer who won't just take your money and send you nothing, use one of the eBay sellers I have checked out. If you feel it is worth the risk, try buying one of my "Best Deals on the Internet". I DO NOT know if they are reliable or not. Bear in mind, you are taking a risk.

* The information published and opinions expressed are for information purposes only. Nothing contained herein constitutes financial, legal, tax or other advice. Important financial decisions should only be made after obtaining advice from a qualified expert familiar with your specific circumstances

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Comments (54)
#1 by Eliza, May 23, 2007
Too long
#2 by Daisy, Sep 11, 2007
Chase Bank in Arizona is selling and buying back Iraqi Dinars.
#3 by Nick, Sep 21, 2007
The government can claim all money inside iraq is legitimate and all money outside is iraq is not. Then, they will exchange the money inside iraq for new currency and the old one you can use for funny money in Texas holdem with friends.
#4 by dante, Oct 4, 2007
insightful! Thank you for making sense to all of this dinar debacle.. Im from indonesia and these "get rich quick schemes" often get the best of many people yet so desperate for an easy buck but without the hardwork.
#5 by furion , Oct 17, 2007
a ha
#6 by Tim C, Nov 11, 2007
Anybody who understands even the most rudimentary principles of economics would know to stay the hell away from the 25,000 Dinar note. This think is an inflationary note reflecting the current minuscule value of the IQD to the USD. If and when the rate climbs, you can rest assured that this note will be the first on the Devaluation chopping block! Devaluation always occurs when a drastic exchange rate takes place to harmonize the currency on global markets; it would be best to get smaller denominations if any at all.
#7 by Scrappy, Nov 21, 2007
We have received reports that the Iraqi Dinar has gone to value. It should be formally announced tomorrow on Thanksgiving. The value which has been stated is $1.21 to start. The value should be posted on the FOREX within a day and then the US banks will be able to exchange the money. We expect it, the value, to rise quickly as there is a major conference in Egypt this weekend discussing the revalue of their country's currencies attended by all the Midwestern countries, and they all want to match Kuwait which is at a $4.00 US per Dinar value.

We have had multiple reports that they are now using the smaller denominations in the daily business in Iraq. This coincides with the information that the central bank has had many currency auctions in the past few days as the country's banks were buying the smaller bills to be ready for the revalue and to have the small bills available.
#8 by West Indies, Jan 3, 2008
Foreign companies Investing in Iraq? Last time I heard, US Department of state employees publicly stated that their job transfer to Iraq would amount to a death sentence......
#9 by Mr Mac, Jan 21, 2008
Does anybody know where I can set up a banking account to deposit my New Iraqi Dinars? I believe now is the time to flood the US Financial Market with the New Iraqi Dinars. So when ever the rate do change, I may have the option to cash out or invest. Again, now is the time!
#10 by pingo, Feb 2, 2008
what are the current rates of iraqii deenar...can any one tell here?
#11 by Maricel, Feb 11, 2008
Today the value of Iraqi dinar from Central Bank of Iraq was 1210. Im an asian currently working here at iraq and having 10million Iraqi dinar
#12 by miss sha, Feb 17, 2008
i strongly believe in iraqi dinars. i live in south east asian country and bouth 300,000 iraqi dinar to turn into dollors. i bought through a mutual friend. all notes are uncirculated. dinar will surely go up soon. it is not scam only the dealers are making more money by selling in high prices. the exchange rate today is 1US=1208. you can check it out from central bank of iraq.
#13 by Lance Johnson, Feb 24, 2008
I think this is a scam, I heard abouth it at victory christian center in philadlephia. If this is not posted it supports my thought.
#14 by BillyBones, Feb 28, 2008
Dinar were susposed to be "on" the World Bank list by Thanksgiving (I heard it too)...then Christmas...no later than Jan 1,2008, then Feb 1st by the latest. I haven't heard anything else as of yet. Maybe APRIL FOOLS DAY.!!! It's a scam people!! Realize it now and, if you can, get your money or as much of it as you can BACK. Actually, a good investment in Iraqi money would have been to purchase ANCIENT Iraqi/Persian money. If, when you purchased your original Dinars, you would have purchase ancient Persian gold coins..their value would have more than doubled (for me anyway, I bought my dinar in 2004). Too bad FOR ALL OF US!! WE WERE SCAMMED!!
#15 by Freddie Mendez, Mar 6, 2008
If you really want to earn money (millions) plese check this video:
http://jampr.energy526.com
#16 by Jim, Mar 8, 2008
This is a scam, alrady this is beaing sold in Guam.
#17 by dg, Mar 17, 2008
Could the existence of ebay and amazon create the dinar\'s new evaluation without the country of Iraq controlling the currency? Could the sheer number who have purchased the currency outside of Iraq change the way currency is controlled and evaluated, especially with the decline of the US dollar and the increase of Iraq assets in the US and else where from the use of the Iraq oil revenues. Also if the value of the Iraq currency went up, and the people of Iraq suddenly increased their buying power, would the swing of living in Iraq have a new meaning, a meaning of fighting to maintain their own country because of the added value it would now bring, to be a citizen of Iraq? What would it be to participate in the new quality of life, with this higher value of Iraq currency, What would it bring to Iraq, it\'s people?
#18 by BoDIDDLY TOE STOMPER, Mar 18, 2008
I AM IN IRAQ and have been since 2004, the dinar has gone up since the induction of the new dinar, now I have read all of the blogs,\"FACT\" if you have the OLD DINAR you are screwed, but on the other hand the NEW DINAR has already gone up in value since 2004. To the individual that Stated that you can not trade the money anywhere but Iraq, then you need to go to Chase Bank in the USA, they buy it and sell it all day everyday.
#19 by MRC, Apr 4, 2008
TO ALL:
The Iraq Dinar is not a "scam". IT is real currency that the US helped bring about and supported the selling of it in the US.

It has pumped MILLIONS of USD (United States Dollars) into the Country of Iraq...

NOW what might be classified as a scam is "its going to peg! - it will hit the 1=0.33USD exchange that was in history - get rich quick - turn $990USD into $3,000,000.00USD"
Those are comments made and thrown around all the time by dealers and individuals selling the Iraq Dinar Currency.

If you want to invest in Iraq Dinar, do not do it with the intentions of becoming rich overnight and depending on your age, do not say "this is my retirement" - as this may not happen for years to come.

This is a Country that has come along way, but has along way more to come to see the currency at record highs, oh and yes the "oil supply" that every one says they are the largest and produce xxxx amount of barrels a day!!! that does not mean that its going to happen either!

So if you have already invested money in Iraq currency do not get "down" that hit has not "pegged" "cashed" or any other term thrown around... Infact if you want to sell it, you can visit a Chase Bank branch and ask them for the sell price on IQD. It can be sold and purchased at Chase Bank.

#20 by Daisy, Apr 5, 2008
Don't listen to the "naysayers". We lost out on several million dollars when Kuwait revalued their currency, because we listened to the naysayers.

Did you know???

I didn't know! How could we???

Did you know that 47 countries have re-established
their embassies in Iraq?

Did you know that the Iraqi government
currently employs 1.2 million Iraqi people?

Did you know that 3100 schools have been renovated,
364 schools are under rehabilitation,
263 new schools are now under construction
and 38 new schools have been completed in Iraq ?

Did you know that Iraq's higher educational
structure consists of 20 Universities,
46 Institutes or colleges and 4 research centers,
all currently operating?

Did you know that 25 Iraq students departed
for the United States in January 2005
for the re-established Fulbright program?

Did you know that the Iraqi Navy is operational?
They have 5 -100-foot patrol craft, 34 smaller vessels
and a naval infantry regiment.

Did you know that Iraq 's Air Force consists of three operational squadrons, which includes 9 reconnaissance and 3 US C-130 transport aircraft (under Iraqi operational control)
which operate day and night, and will soon add
16 UH-1 helicopters and 4 Bell Jet Rangers?

Did you know that Iraq has a counter-terrorist
unit and a Commando Battalion?

Did you know that the Iraqi Police Service has over 55,000
fully trained and equipped police officers?

Did you know that there are 5 Police Academies in Iraq
that produce over 3500 new officers every 8 weeks?

Did you know there are more than 1100
building projects going on in Iraq?
They include 364 schools, 67 public clinics,
15 hospitals, 83 railroad stations,
22 oil facilities, 93 water facilities
and 69 electrical facilities.

Did you know that 96% of Iraqi children under the age of 5
have received the first 2 series of polio vaccinations?

Did you know that 4.3 million Iraqi children were
enrolled in primary school by mid October?

Did you know that there are 1,192,000
cell phone subscribers in Iraq
and phone use has gone up 158%?

Did you know that Iraq has an independent
media that consists of 75 radio stations,
180 newspapers and 10 television stations?

Did you know that the Baghdad Stock Exchange
opened in June of 2004?

Did you know that 2 candidates in the Iraqi
presidential election had a televised debate recently?

OF COURSE WE DIDN'T KNOW!

WHY DIDN'T WE KNOW?


BECAUSE...


OUR MEDIA WOULDN'T TELL US!

Instead of reflecting our love for our country,
we get photos of flag burning incidents at Abu Ghraib
and people throwing snowballs at the presidential motorcades.

Tragically, the lack of accentuating the positive in Iraq serves two purposes:

It is intended to undermine the world's perception of the United States thus minimizing consequent support, and it is intended to discourage American citizens.

---- Above facts are verifiable on the Department of Defense web site..

......Pass it on!
#21 by tom, Apr 17, 2008
I wonder how much Iraqi dinar was sold outside of the country and what will happen when the investors decide to cash in?
#22 by Les in MI, Apr 20, 2008
Daisy!! That has to be the most insightful and useful bit of actual factual evidence that I have read up on here yet! Thanks for your efforts in typing such a well written article
#23 by Tom, Apr 25, 2008
#2 by Daisy, Sep 11, 2007
Chase Bank in Arizona is selling and buying back Iraqi Dinars.

LOL. Iraq is on the U.S. governments OFAC list. Therefore any business or bank in the United States that is exchanging Dinars is commiting a crime and risking losing their Charter. I really doubt that Chase would take that risk.
#24 by Jesse, May 21, 2008
RE: #25 Tom and #2 Daisy

http://news.bigg.net/n35525-Cash_for_Your_Iraq_Dinar_Now_at_Select_CHASE_Banks_in_USA.html

For better or worse there it is, Chase IS trading dinars.
#25 by Mr Big Dick, May 24, 2008
Well, Well, Well,,,

Kitty Cat Kitty Cat I'm always where the money's at!! And you people should shut up and don't think and put your money where your big fat mouth is. Buy up as much Dinar as you can and sit on it. One day you can take vacation and fly to Iraq and cash in your millions. :)) Dinar is Dinero. Think about it you dweebs. I have 10 million and am buying 1 million per month and kicking back. And when you're sitting around going boo hoo I didn't buy any dinar and I'm broke I will have done flown overseas with your wife and be sleeping with her and entertaining your wife cause I will be multi multi millionaire and can do any damn thing I damn well please. :))
#26 by Lonnie, Jun 4, 2008
They are exchanging Iraqi Dinars and other currencys at Chase Bank here in Dallas Tx as well.
#27 by Dinar Scam, Jun 13, 2008
I was visiting http://www.iraqidinarscam.info/ and referred to your site and excited to see that you covered so much!
#28 by DinarMan, Jun 27, 2008
I have sold millions of dinars and do so daily.
If it was a scam, I clearly won't be involed. It
a HUGE crap shot, and its going in the right direction!
GO BUSH GO, Get'ur done be fore you GO!
#29 by Anubis, Jun 30, 2008
DinarMan

If it is no scam and people can make money the why are you selling yours instead of keeping them.
#30 by Potential Currency Investor, Jul 5, 2008
Wow! A lot of angry and misinformed people. Some of the previous statements were beautifully written and educational (as well as a few of the statements being juvenile and filled with filth that we could have all done without...you know who you are). In any event, it seems to me that this situation boils down to one critical point that no one has addressed thus far. Currency traders sell currency because THEY are gambling on the odds that they are going to MAKE money based on the rates that they are willing to sell whatever currency at that point in time. These rates are influenced by world politics, economics, and a host of other factors that the average layperson doesn\'t take the time to research BEFORE purchasing. Therefore the sellers generally make money or they wouldn\'t be in business very long. Perhaps with the Iraqi dinar the SELLERS are gambling that the currency may become TOTALLY worthless and a new regime install a completely different set of bills/papers/coins etc...thereby making 100% profit because they promised you nothing. However, as a currency investor or buyer, you gamble that the situation in that country or market arena will improve and that there is a glimmer of hope that they will keep that currency and the value of it will increase accordingly. If it does, you made a wise investment (and got lucky). The ONLY REAL way to know whether or not to invest in Iraqi dinars is to research the public financial and investment records of government and diplomatic officials involved in Iraqi politics or Iraqi economic issues to see if THEY ARE PURCHASING these new Iraqi dinars or not! If they are, then you should too. If they are selling them like hotcakes, then you had better dump yours fast or risk getting caught with a lot of worthless paper. Just a few thoughts from a poor little drug dealer in West Virginia, USA.
#31 by Big John, Jul 20, 2008
In seven months of investing the dinars I purchased have gone up in value approximately 10 percent while the dollar has dropped, You tell me is this a good investment or not?
#32 by Reality Check, Jul 20, 2008
The Dinar may make it to 1000:1, but that is about the best you can expect from this dinar.
Anyone who thinks that Iraq can introduce a currency, increase the supply of it to 26 Trillion (over 3 times more than the US dollar, 3 times more than the Euro) and use this currency for almost 5 years now... an then somehow magically increase the value 120,000%... well you know the old sayings.. I've got some land in Florida I'd like to sell you... or maybe a bridge in Brooklyn.
It's amazing how many people involved in this thing don't understand simple economics. Econ 101... supply and demand. The Dollar and the Euro get their value from the the demand that is generated from the size of the economies. The US has a $13 trillion dollar GDP, The Euro countries have a $12 trillion GDP. That makes for a tremendous demand for those currencies. Iraq on the other hand has a GDP of about $90 billion... and almost all of that is from oil sales which are in dollars so it does nothing for the dinar. The Iraqi non oil economy is practically nothig. There is virtually no demand for dinar except for speculators. With a money supply 3 times that of the Euro or Dollar. Iraq would have to have their non oil economy grow to approx 3 times the size of the U.S. or Euro nations (that would be a non oil GDP of about $35 trillion) in order to have the dinar rise to 1:1.
Hopefully you see that is a total farce.
If Iraq wants a rate of 1:1 or anything close, they will issue a new currency and re-denominate. In other words, lop 3 zeros from the currency. For every 1000 of this dinar you have, you will get 1 of the new currency. That is if they don't somehow block money from reentering the country for an exchnage.
Whatever money you have in the Iraqi dinar is at great risk!
#33 by Cynic, Aug 6, 2008
So why are scamming theives like talkgold's okosh, are seeking silly people to buy Iraqi dinars from?
#34 by john tope, Aug 7, 2008
The one item which no one is mentioning is the fact that the USA has invested billions of dollars into Iraq and will continue to..
The US will not let the Iraq mission fail or will the Dinar fail.
The Dinar may not reach 3:1 value but it sure will go up.
#35 by Mike, Aug 7, 2008
After 20 years in the investment banking business I have learned one VERY IMPORTANT lesson: IF IT LOOKS TOO GOOD TO BE TRUE IT'S JUST THAT.... TOO GOOD TO BE TRUE!!!!!
#36 by Daniel, Aug 11, 2008
I can vouch for Chase Bank. They have and ARE selling dinar because I have bought it from them. I paid $998.66 for 1,050,000. They will buy it back and if you dont have an account with them they charge a $5. surcharge. Not a scam just dont be stupid and buy from an online vender that is OBVIOUSLY trying to turn a profit on you. Anywhere you find a Chase that does international currency exchange you can get dinar. The only catch is they do not have it on hand. They give you a reciept and you get it in 48-72 hours.
#37 by Ann, Aug 13, 2008
The same goes for Fifth Third Bank.
#38 by Josh, Aug 14, 2008
ok... uhmm lets start at the beginning ... what are investments a risk right ... . so for everyone who believes this is a get rich scheme then... that would be the only reason no is investing right...?

wrong have you ever turned to a non investor say hey i know something for you to invest in... when they ask why ... you say well in the past...and the conversation ends there....

because if you look at the past wars... like ww2, korea, vietnam, and even desert storm with kuwait... all of this happened its just a matter of how much...

so this is just an investment... investments are risks every single one of them... im not going to lie im looking at this investment very promptly cause its not everyday a country goes to war... and thats why it seems skeptical cause people would be saying well why werent they doing this 6 years ago... simple we weretn at war... so ive said my peace...
#39 by intoronto, Aug 17, 2008
From Forbes to CNN to NT Times etc. there are warning articles re dinar scams and such....in my south american country of Peru I have seen 4 times our currency change names and the older one get destroyed....and it was never so unstable a country as Iraq....It seems the proof of how good or bad an investment is to sell it back to whomever you bought it from and see if they take it and give you back your strong currency! plus I also find sooo fishy all these websites selling dinars with no offices listed nor company info and basic emails......very shady....
#40 by I bought in , Sep 2, 2008
OK I have bought in, bought millions of dinars on the chance that there might be a future value. I have a degree in economics. I hear all the postive (wishfull) thoughts on the subject and listen to all the suth sayers that state that this will turn a corner and be a hit because there value there when it hits the open market. ON THE OTHER HAND. I hear the postings here with details about oil is in US dollars and the volume of dinar out paces much larger economies.

I would like to do two things. First, Get smaller bills. This seems like a safer way to hold my Millions (and cover more wall area in the event of a currency change or devaluation on the open market.)

Secondly, get some independent authoritative details about what is currently going with the economy, monatary policy, US support of the Dinar. Details like this will help me feel more comfortable with my roll of the dice.

Any insight on how to go about this?

By the way I can afford this risk and loosing all that I have gambled here will only make for a good story if it fails to produce a nickle.
#41 by DWolf, Sep 12, 2008
Reality Check,

I find error in your post. As of late we have been seeing reposts of the lopping of the IQD. Sadly they are reprints of past articles dating back as far as 2 years and nothing new. Lopping the IQD will do nothing (This action could even drive away any out of country investors) to help the Iraqi people or government. I fear that most people are making the mistake of the lopping off of three zeros to the movement of the decimal point over three places!

About a year and a half ago a study was conducted on the assets of Iraq. The data showed that without pegging the IQD to their oil reserves or their newly found gold fields, recovered assets taken by Saddam Hussein, the GOI could pay out as high as $6.00 USD/IQD without hampering their rebuilding of Iraq.

To date, Iraq can afford even a higher buy back of their IQD if so desired. In truth, the economy, stability, security, and rebuilding of Iraq is astounding given the region and problems. Oil reserves have been updated to twice their original amounts with just last week a 3 billion-oil contract signed with China. Since our last study, Iraq is now reporting over a 76 billion surplus and growing with additional oil contracts and sales.

The investment in the IQD is NO scam, only the scammers that would like to cause the investors to bail out prematurely. The fact remains that President Bush has signed legislation allowing Americans to invest in the IQD. If not, please explain why the U.S. Treasury is sitting on 1.5 trillion IQD?

DWolf
#42 by Tiny, Sep 25, 2008
Ok..let me get straight here..Does anyone think it is a good thing to invest in the IQD or not?
#43 by Shotgunsusie, Sep 28, 2008
The dinar will revalue tomorrow at $3. Wooottttttttttttttttt.
#44 by Quaid, Sep 28, 2008
Hi Shotgunsusie, where are you posting now days, I miss reading your info. You always had good stuff. Take care.

Quaid
#45 by Scrox, Oct 2, 2008
This by far is NOT a scam. Scroll back up and you will notice that Ender stated that the US to Dinar conversion rate was $1.00(US) to 1,475(IQD). Now take a look at this article I've found online
http://www.menafn.com/qn_news_story_s.asp?StoryId=1093210730
which states that the conversion rate is $1.00(US) to 1,184(IQD). "IT'S GOING UP"

If you need more proof, go to xe.com and do the conversion; you will see that the current rate is $1.00(US) to 1,180.64(IQD)

IM BUYING THE DINAR!!!!!!!!
#46 by al, Oct 13, 2008
The whole USA has 850 billion dollars out there in cash and coin. When Iraq printed the new money, they had to print scads of it so that they could exchange it for all the inflation money that was in the hands of the people.

If the dinar went to $1, they would have 6 trillion dollars in currency. They have 25 million people. The USA has 300 million.

I don't know how much currency was in Iraq when the value was $3.20 but I would venture to guess that it was much,much less than there is now. That is why a zero lop is needed to decrease the supply of money.
#47 by Chucho, Oct 24, 2008
People get real when it used to be 3 it was because Saddam said so not because it was worth it. DO you people know what Iraks economy depends on?? OIL!! how much is the barrel today? Alil below $65 so is the economy getting any better in irak? dont think so. It doesnt take an economic geek to know that. But to all of you people that are investing I hope you are not depending on that currency cause it could change any time and be just monopoly money. Good Luck!!
#48 by Cucamonga Muck, Oct 25, 2008
There has been one point of interest forgotten here... If more people continue to invest in IQD there is a possibility that the act of purchasing a currency does have an effect (although not as much as usual currently given the economic conditions worldwide), on that currency. The effect should be an increase in value of the acquired currency.

Just hope that the investment that the US has made in the war and structure of Iraq pays off someday. Be patient something is bound to happed for the better sometime........
#49 by lisa, Nov 1, 2008
Iraq will be the richest nation in the world, so this is not a scam. A country does not determine the value of the currency, but the IMF. Go to www.cbi.iq and see that they have an auction every week in selling and purchasing dinar.
#50 by Torch, Nov 3, 2008
HELP...HELP..HELP....Husband buying dinars..not paying bills...gonna leave his butt..UNLESS,he flies to Iraq to cash them in...
#51 by mahendrakaniraga@yahoo.com, Nov 4, 2008
sell your dinar to me, i am from indonesian will buy your dinar with good price.contact me at: mahendrakaniraga@yahoo.com
i know iraqi dinar will a strong economic, you know united of states america war with iraq because of oil, gas, and good economic.nuclir? what nuclir!!!!!
sell your iraqi dinar to me, i will buy it.
mahendrakaniraga@yahoo.com

www.cbi.iq
www.aswataliraq.info
#52 by Mike, Nov 4, 2008
Can some please email me the contact info of US bank (Chase bank) where they buy/sell IRAQ dinar.
friendsummit@yahoo.com

Thanks
#53 by Russ, Nov 6, 2008
What people have to understand is that this is an INVESTMENT. You are not going to get rich tomorrow from it, and like every investment you take a chance of winning or losing. The point is to buy what you want and put it in a box and forget about it for 10 years. There is no way Iraq is going to recover that fast and be worth millions in a few months or even a couple of years. It is just going to take time. You just have to be patient and not expect the quick millionaire hype. At the current price even if the economy does not explode the dinar is still worth the money you paid. And even if you lose after 10 years, its money forgotten anyways. Just my thoughts and reasoning.

But on a side note if you do buy, make sure you buy from a reputable source and DO NOT pay more than the money is worth at the present time. Salesman are not encountering hassels purchasing dinar resell to you, it is readily available. Anything above the actual worth is profit to them and not to you. So if you spend $1000 for dinar that is only worth $850 and the money never goes anywhere you are out $150 when you resell it because you\'ll only get $850. Make sense?
#54 by GMAN, Nov 16, 2008
The only people making millions of dollars are those selling the worthless currency to hard working middle class people, because they are the only ones buying it.

There is so much wrong with this idea that it is virtually impossible to narrow it down to just 100 reasons why your money will “NEVER “reach its “POTENTIAL” monetary value.

What you have is a bag of magic beans that someday you hope will help lead you to a place very few of us will ever know, financial independence.

This is an example of why the rich get richer and the poor stay poor.
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