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iraq dinar investment

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Posts: 6

Johnnybad

Rookie

Joined: Sep, 2009

Posts: 659

Posted: Apr. 16, 2010 - 8:40 PM ET #1

Has anyone else heard the sales pitch on the new Iraq dinar? It's simple. Buy Iraq's new money ($700 USD = 1,000,000 dinar) in hopes that the new Iraq goverment can pull together and start to prosper off it's rich oil resoures . It sounds good at first but I'm not sure if the economy will pick up there in the next 20 yrs or not?

Thoughts?

bucknuts

Captain

Joined: Oct, 2005

Posts: 8951

Posted: Apr. 16, 2010 - 9:12 PM ET #2

I saw a thread on another investment site about this..id check it every so often...be worth a shot

wallstreetcappers

Covers Linesmen

Joined: Feb, 2003

Posts: 58464

Posted: Apr. 16, 2010 - 9:42 PM ET #3

I purchased some Dinar a few yrs ago..it has been set to a flat rate relative to other currencies, translation it is dead money until they stop having it pegged.

I think the peg rate is like 1155 or something vs the USD.

I have a million dinar somewhere around here, I am using it as a coaster for my drink..

Johnnybad

Rookie

Joined: Sep, 2009

Posts: 659

Posted: Apr. 16, 2010 - 11:11 PM ET #4

Quote Originally Posted by wallstreetcappers:

I purchased some Dinar a few yrs ago..it has been set to a flat rate relative to other currencies, translation it is dead money until they stop having it pegged.

I think the peg rate is like 1155 or something vs the USD.

I have a million dinar somewhere around here, I am using it as a coaster for my drink..

that's pretty much what I'm thinking too.