Investing in the Iraqi Dinar, $$$ |
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 Sep 13 2008, 03:20 AM
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#1
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 ^_^  Group: Staff Alumni Posts: 8,141 Joined: Jan 2005 Member No: 91,466  |
[This will probably get moved to debate depending on the feedback, but for visibility purposes, I'll start this in The Lounge]
Saddam is no longer around, and even though this wretched country might be in shambles, things are going to pick up in the immediate future, and it's a foreseeable guarantee. Why? For starters, Marines in the Al-Anbar province are leaving their respective bases and control is being returned to the iraqi military. Here in Baghdad, Victory Base Camp, which houses American and Foreign forces, on a prime piece of real estate (Al-Faw Palace, Baghdad Int'l Airport, etc), is all being returned to the country. What does that mean for Iraq and their currency? With their currency currently worth $0.0009 cents, it wouldn't take much of an investment to turn fractions of pennies into hundreds of thousands of dollars, or millions, depending on your investment. Take the Gulf War as a prime example; prior to the war, the Dinar was worth (as set by Saddamn) $3.30 per dollar. At that rate, invest US $1000. With the dinar currently down, 1150 Dinar would equal US $1. After the turnover, with the possibility of the rate increasing back to $3.30, you could walk away with nearly $3.8 million dollars. Where would this money come from to be able to maintain such economic stability? Oil, bitches. |
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Sep 15 2008, 09:08 AM
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#2
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^_^ Group: Staff Alumni Posts: 8,141 Joined: Jan 2005 Member No: 91,466 |
Move this to debate, plz.
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Sep 15 2008, 10:23 AM
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#3
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 This bag is not a toy. Group: Staff Alumni Posts: 3,090 Joined: Oct 2007 Member No: 583,108 |
You got it.
(moved to Debate) |
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Sep 16 2008, 03:05 AM
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#4
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^_^ Group: Staff Alumni Posts: 8,141 Joined: Jan 2005 Member No: 91,466 |
QUOTE( @ Sep 15 2008, 10:21 AM)  How long do you think it will take for it to get back up to 3.30, and what are the chances of the dinar plummeting even further? How long? That's hard to say. You know how it is here more than anyone else on this site. This place is still a clusterfuck of tribal hostility and Jihadist movements. Although, it doesn't seem like it can get any worse than Baghdad of 2005. With a new president to be the figurehead, a large amount of us moved out of Baghdad, and an attempt to restimulate the economy, it can only get better. (General Petreus' change of command is going on right now, as we speak) The Dinar can't skyrocket to $3.00 until the civil war can come to an end, but that doesn't mean the value won't raise in the process. I'm still doing research on it. I'll definitely keep you posted. |
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Sep 16 2008, 07:24 AM
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#5
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 The Resident Drunk Group: Head Staff Posts: 8,623 Joined: Nov 2007 Member No: 593,266 |
Yes please do! I am thinking of investing my money, and I want a few stocks to look at.
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Sep 16 2008, 08:45 AM
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#6
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^_^ Group: Staff Alumni Posts: 8,141 Joined: Jan 2005 Member No: 91,466 |
QUOTE(DoubleJ @ Sep 16 2008, 06:24 AM) Yes please do! I am thinking of investing my money, and I want a few stocks to look at. You wouldn't even be buying stock, so that cuts out the middle man immediately. Any international bank sells currencty. For example, you could go to Bank of America, with about US $800 and walk away with 1,000,000 Dinar. Hold onto the money, but it somewhere safe, buy a deposit box at the bank, etc. Once the economy picks back up again (OIL), exchange it for US dollars. Even if the Dinar's value rises to a penny, with any current investment, you'll cash out. |
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Sep 16 2008, 08:49 AM
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#7
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The Resident Drunk Group: Head Staff Posts: 8,623 Joined: Nov 2007 Member No: 593,266 |
oooo ok I think I understand, I am not quite sure, but I think I have an idea.
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Sep 17 2008, 04:42 PM
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#8
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The Resident Drunk Group: Head Staff Posts: 8,623 Joined: Nov 2007 Member No: 593,266 |
Forgive me for being dumb, but I still don't understand how this would work.
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Sep 17 2008, 05:00 PM
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#9
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 Senior Member Group: Administrator Posts: 2,648 Joined: Apr 2008 Member No: 639,265 |
QUOTE(DoubleJ @ Sep 17 2008, 05:42 PM) Forgive me for being dumb, but I still don't understand how this would work. In a nutshell, you buy a lot of Iraqi dinar right now, keep it for a while, and then when it goes up, you use it to buy American dollars or some other currency again. |
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Sep 17 2008, 05:06 PM
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#10
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The Resident Drunk Group: Head Staff Posts: 8,623 Joined: Nov 2007 Member No: 593,266 |
Ok let's say for instance I do that. Will it not be the same amount in three years?
EX: I buy some dinar...let's say a million worth When the value rises three dollars, will it still not be one million, or will it be three million? |
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Sep 17 2008, 05:19 PM
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#11
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Senior Member Group: Administrator Posts: 2,648 Joined: Apr 2008 Member No: 639,265 |
Well, it's like anything else -- if you buy it cheap and its value goes up, you can a return on your investment.
This post has been edited by mipadi: Sep 17 2008, 05:24 PM |
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Sep 17 2008, 05:21 PM
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#12
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The Resident Drunk Group: Head Staff Posts: 8,623 Joined: Nov 2007 Member No: 593,266 |
That can't be how it works.....I swear this shit is hella weird.
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Sep 17 2008, 05:25 PM
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#13
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Senior Member Group: Administrator Posts: 2,648 Joined: Apr 2008 Member No: 639,265 |
QUOTE(DoubleJ @ Sep 17 2008, 06:21 PM) That can't be how it works.....I swear this shit is hella weird. Sorry, I edited my post. My math was off, and I need to think about it a bit more. But the concept is the same. The Iraqi dinar is worth nothing right now, so you can buy lots of it really cheap. If it goes up in value, then you can convert the dinar back into US dollars for a huge profit. Basically, 1 Iraqi dinar is worth $0.0009. So I can buy an Iraqi dinar for $$0.0009, which means I can buy 100 Iraqi dinar for a merge $0.09. So let's say I do that. Now instead of $0.09, I have 100 Iraqi dinar. So let's say that the Iraqi dinar goes up in value, and is worth $3.30. This means that with 1 Iraqi dinar, I can now buy $3.30. Which means that my 100 dinar can now be exchanged for $330. I think. (Hey, if this is true, my math wasn't wrong. Wow.) |
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