Hey just figured I'd ask you guys that follow this stuff..I have a friend that's convinced it's a good investment but Im skeptical...dont want to waste money if it's not worth it..any info would be appreciated
Do not buy Iraqi Dinars, it will not return to its former glory of $3.30~ USD = 1 Dinar. edit: Not as long as a "central bank" remains in control of Iraq's currency & corporations control its natural resources.
Anything with a high reward will come at an equally high risk. The political and economic state of Iraq does not warrant investment from people who want to make, let alone keep, their money.
لا http://www.forbes.com/sites/jayadkisson/2012/07/30/you-cant-fix-stupid-the-iraqi-dinar-scam-lives/ http://www.forbes.com/sites/johnwasik/2013/05/28/dinar-deception-driven-by-false-hopes/
I purchased some back in '04 while I wad there just to have some and hoping it might come back one day. I dont think its a worth while investment though. If nothing else, my kids might be able to find a collector one day since it has Saddam on it, lol. Till then, its just sitting in a safe deposit doing nothing.
Its absolutely not worth it. If you google it and I assume your talking about Iraqi currency do not buy any of it. Some alarming things that suggest to you to not...no anti-counterfit division. Quite often the suckers be it internet sales, contractors, us military buy them from some idiot in a Iraqi Market and those buying could not tell you if its real, or fake. Iraqi conducts much of its business in US Dollars. They actually running a small deficit as well. Money usually increases in stable areas. 90% of Iraq has less then 2 hours a day of water or electricity. 3000 people year to date have died from bombs.aka very unsable country that stands a good chance of a civil war next year. The only likely hood is a devaluation of the currency not a increase. Heres a link to a good Forbes article on it and if you read the author updates it once a month or so to continue telling people thats its not increasing in value but decreasing. http://www.forbes.com/sites/jayadkisson/2012/07/30/you-cant-fix-stupid-the-iraqi-dinar-scam-lives/ You would be better off buying bit coin. I made a shit load when that was all in the news. Bought a bunch at 40 way back and sold at 200. Was sick. Another thing as well currency usually is not accumulated. Its purpose for the average everyday person is for you to spend it not keep it then sell it. One of the reasons why Bitcoin moves so fast people are trading it more like a stock like I did vice using it for products.
I thought the US fixed Iraq.. OP: never take investment advise from friends or people on the internet who aren't professional investors.
Iraq is far from finished. Its a disaster. There Shia leader is aligning himself with the Iranians since there all Shia. He does not respond to the bombing since the majority are killing the opponent tribe. No power, no water. Billions a month in revenue that there government can not account for. The Kurds up North are all but not part of Iraq except on paper. They have a military that was created specifically to not allow Iraq into there territory. All the oil contracts have gone to the Chinese. Oh then about 2 weeks ago they had a huge prison break which was all a inside job and about 500-1000 Al Quedia idiots were cut loose...there on the war path as well. They have nothing to loose since they all were on death row. Anyhow bad country to invest in. Companies other then oil have no desire to even be there. McDonalds could not even open a location because the roads are not even safe. No safety no foreign investment. Pie in the sky people believe that if you simply vote Democracy and Freedom come with it. Wrong..thats just one part of it. Economics is what builds your country not voting. Continuous bombs = no foreign or domestic investments. When I was over there we had a interpreter team for our company. They were locals we hired. Great guys. Every single one of them was pending US Citizenship. They will tell you Iraq has had a brain drain. Smart guys have left or are leaving. Its a country now were the school yard bullies rule. If you watch that show Revolutions the Google dude comments about that. That in his reality the smart ones had the power in the post electrical world the savages have it. Iraq is in the hands of the savages.