The Ugly Truth About the Iraqi Dinar

Does it make sense to you than an investment opportunity could pay a 2,750,000% return on what you put in? That for the price of getting your tires rotated, you could buy a new house, and for the price of a new house, you could become a billionaire? Would you believe these claims, or would you run screaming from them? Sadly, these ludicrous, utterly unbelievable returns are exactly what a group of currency brokers are selling to their customers.These customers are, in turn, taking to social media to demand this money from the US government. What’s the story with all of it? And how is it actually legal?

Last week, when the phrase “release the RV” began trending on Twitter, I was pretty confused. Was there a recreational vehicle that had been wrongly impounded? What does that even mean?

Then I noticed another unfamiliar trend, the hashtag #wearethepeople. Most of the people using it were clearly new Twitter accounts, as they didn’t have avatars and only had a few followers. These are the sure signs of sock puppet spambots. But they were also making references to things like a global currency reset, the International Monetary Fund, sovereign debt and justice for the poor. And most interestingly, they were demanding that the US “release the RV.”

Iraqi dinars...or prospective millions of dollars. (rferl.com)

Iraqi dinars…or prospective millions of dollars. (rferl.com)

Mysterious Twitter accounts acting in unison to promote a shadowy, unknown agenda related to global money and politics? Smells like a conspiracy to me!

Instead, it’s something much more common: a decade-long scam. And it has to do with, of all things, the Iraqi dinar. Or more accurately, people who bought Iraqi dinars at incredibly low prices and expect the US government to massively revalue (hence the “RV”) them to their pre-Gulf War exchange rate. Unfortunately for dinar buyers, this is almost certainly never going to happen. Or at least not in the way they’re demanding it does.

From the time Great Britain took control of Iraq after World War I until the end of the British Mandate in 1932, the country’s currency was the Indian rupee. After Iraq gained self-governance, the dinar was introduced. Thanks mostly to Saddam Hussein saying so, it became one of the most valuable currencies in the Middle East, eventually trading at 1 dinar to $3.22 – though only high-level Saddam cronies could get that exchange rate.

Then came the Iraqi invasion of Kuwait, and with it, international sanctions. The dinar plummeted to the point where you could get roughly 3,000 for a dollar. The US removal of Saddam’s government brought a little value back to it, but not much. As of this writing, the dinar goes for 1,165 to $1.

Or it would, if anyone conducted international commerce with it. But since the dinar is so worthless, it’s not listed on the foreign exchange market (FOREX) and you can’t buy or sell them electronically. You can only get them in cash. They have no value outside of Iraq, and very little value IN Iraq. In fact, Iraqis are so distrustful of dinars that they conduct most transaction in cash dollars.

So why would anyone bother buying such a devalued and untrusted currency? Because human nature dictates that any time there’s a money-shaped hole in the world, dubious investors and misinformed people looking to get rich quick will step up to fill that hole.

Speculation on Iraqi dinars took off after the first Gulf War, when Kuwait’s currency (also called the dinar) crashed, then quickly appreciated back to its previous value. Couldn’t the same thing happen with Iraq’s currency? Couldn’t it also “revalue?” It seemed like a reasonable assumption, given both nations’ oil reserves.

And so shortly after the US invasion, an industry was born – selling cash dinars directly from Iraq to American investors, then stoking the hope that they will skyrocket in value. First it was just service members in Iraq buying the currency, but there are now countless brokers on the internet, relentlessly pimping dinars to low-income folks, amateur speculators and retirees gambling on the ultimate lottery ticket.

I hope this incredibly misleading chart doesn't part you with your money. (investorshub.com)

I hope this incredibly misleading chart doesn’t part you with your money. (investorshub.com)

These companies have names like Dinar Index, Sterling Currency Group, Bet on Iraq and Treasury Vault. They have slick websites, layaway plans and free shipping. And because the currency is marketed as a collectable, they don’t have to be licensed by the Treasury Department. They only have to sign a form declaring they are a “money service business.” So it’s perfectly legal to buy as many dinars as you want. You just need somewhere to store them, and an accountant to help figure out the tax implications of your windfall.

However, the reasons not to buy dinars are still substantial.

Even just the act of buying dinars is a massive rip off, because of the fees charged by the brokers. For example, on Sterling Currency Group’s website, you can easily buy one million dinars for the low, low price of $1,100. Of course, at the current exchange rate, one million dinars is actually only worth $859. So you’re paying a 22% commission for the privilege of getting unusable cash sent to you. All of the websites I looked at had around the same markup, as did sellers on eBay. And the same markup will be charged to you if you sell them back to the broker – assuming you can.

Which, OF COURSE, you would never do! Because when the RV gets released by those greedy banksters, and the dinar jumps back to its old value (or way past that!), then dinar holders will be rich beyond the dreams of avarice, their thousand dollar investments becoming worth millions with the stroke of a pen. Right?

Not quite.

For one thing, the comparison of the Iraqi dinar to the Kuwaiti dinar might make sense on the surface, but they have little in common. Kuwait is extremely wealthy and stable with a high-functioning government, little circulating currency and a robust economy. Iraq is entirely dependent on oil (which trades in dollars) and is still beset by sectarian violence, massive debt and a primitive banking system. Kuwait’s dinar recovered quickly because Kuwait recovered quickly. A decade after Saddam’s removal, Iraq shows no signs of being able to support a currency that trades equally with the dollar, and probably won’t any time soon. Quite simply, the country has bigger problems.

In fact, the dinar has barely moved since 2009. Revaluation won’t change that, because revaluation doesn’t simply make money more valuable. What is far more likely to happen in Iraq, as it has with many other countries, is redenomination. This is the process of knocking zeroes off an inflated currency by introducing a new version of it, and revaluing THAT currency. The old is traded in for the new, and everything in the country is re-priced to the new currency.

For example, say I buy 10,000 Skeptoids for one dollar. Then, the Bank of Dunning redenominates its Skeptoids to make them 10 for one dollar. My 10,000 Skeptoids are not suddenly worth 1,000 dollars. Instead, I’d trade my 10,000 Old Skeptoids in for 10 New Skeptoids, which would be worth one dollar. The same amount I paid for them.

Old dinars had Saddam's face on the bills. Which you can do when you decide how much they're worth. (Shutterstock)

Old dinars had Saddam’s face on the bills. Which you can do when you decide how much they’re worth. (Shutterstock)

Redenomination helps curb inflation, makes currency easier to use and brings prices back into parity with other economies. With Iraq circulating at least 30 trillion cash dinars, and maybe much more, this is a sensible way to restore the population’s trust in its money. And if it does happen, the New Dinar (or whatever it’s called) might become slightly more valuable over the long term. But it’s not going to make shot in the dark speculators filthy rich.

Of course, the dinar pumpers know this. They know there’s not going to be a miracle revaluation, neither by the US or anyone else. But the only way to get victims to buy more dinars is to convince them that it’s RIGHT AROUND THE CORNER and if they don’t BUY MORE DINARS NOW they’ll miss it forever. So they stoke the revalue frenzy through message boards, daily conference calls, fake “intel” updates and social media campaigns. All of these endlessly claiming that revaluation and instant wealth are imminent.

They also start rumors. They claim that the US government holds trillions of cash dinars, which it doesn’t. They claim that American banks have started trading them, which they haven’t. They dredge up quotes from financial gurus declaring that the dinar is an amazing investment, even though nobody has ever said that. They claim Executive Order 13303, issued by President Bush in 2003, allows Americans to invest in the dinar, when it’s actually related to protecting oil company investments. They claim all the currencies of the world are going to reset and make everyone rich, which, of course, is ludicrous. And, my personal favorite, they claim that the “wealthy elites” have already exchanged their dinars (because politicians and bankers already bought them and don’t want you to know about it) for a “contract rate” of $32 per dinar.

Seriously. $32 per unit of a massively overprinted currency from an unstable country that’s currently worth a fraction of a cent.

Anyone who puts the slightest thought into it should realize that a 2,750,000% return on an investment, which the “contract rate” would give, is fantasy land. Even for the dinar to be equal to the dollar would be an increase of over 100,000% in value. And again, Iraq has at least 30 trillion dinars circulating. Revaluing to its pre-Gulf War value would give Iraq a cash circulation worth nearly 100 trillion dollars. The “contract rate” would put that at almost one quadrillion dollars. The US, by comparison has 1.2 trillion in currency circulating.

Does this pass any kind of logical test? Does it make sense to invest one thousand dollars and walk away with thirty million, or even one million? Is it reasonable that Iraq, still struggling and recovering from civil war, could suddenly have many more times in cash than the GDP of the United States? In what universe does that happen?

And if it did, why would brokers sell them for pennies on the dollar? Wouldn’t they keep them all and become the wealthiest people on the planet? And wouldn’t the massive influx of cash completely destabilize the world’s economy?

Fraud notices from federal and state agencies have gone out, and elected officials have warned their constituents not to buy dinars. But the dinar holders just say they’re protecting their investment and keeping the little people from instant wealth. Likewise, I can find articles from legitimate financial websites going back nearly a decade saying that the dinar isn’t going to revalue any time soon. For example, one piece, an ABC News article from 2006, quotes a dinar holder who claimed to have bought 31 million of them saying that the precious RV was going to happen within a month.

But it didn’t happen then, it’s not now, and it might not ever. Iraq indefinitely put off a plan to redenominate, and that was in 2012. The dinar remains the financial equivalent of super juice that will cure all your diseases, or that “one weird trick” for losing weight.

It’s a magic bullet with no historical or political basis in fact, built on greed, lies and the pernicious false hope of becoming rich.

9/3/14 edit: This week, I took another look at the dinar scam as it relates to the rampage by ISIS through Iraq. Needless to say, things don’t look good for the IQD – and the scam has continued unabated.

About Mike Rothschild

Mike Rothschild is a writer and editor based in Pasadena. He writes about scams, conspiracy theories, hoaxes and pop culture fads. He's also a playwright and screenwriter. Follow him on Twitter at twitter.com/rothschildmd.
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289 Responses to The Ugly Truth About the Iraqi Dinar

  1. John Denys says:

    Thanks Mike. I love a good financial article.

    “Wouldn’t they keep them all and become the wealthiest people on the planet?”
    I wonder how many people’s life savings would have been saved if that idea had been stated more often to overly optimistic “investors.”

    • dinar definately isn’t a good investment but that said thats like saying why dont all gold sellers save it all for themselv. they aren’t in the business of holding it waiting for it to rise they are in the business of selling it and earning on the margins so they dont care of its going sky high they are gonna make their money either way

      • Barry says:

        Gold is a very poor comparison Bella. If gold sellers thought gold would soar by 100,000%-2,750,000% to $3.5m/oz “soon”, “imminently”, “this week”, etc, I guarantee they wouldn’t be selling them either. Neither would you if you held lots of gold.

        The “RV” is indeed a scam. It’s not even a semi-believable one given that Iraq has around $70-80bn of assets to back over 84tn Dinar. Doesn’t take a genius to figure out why the Dinar’s rate s under 1000:1 in the first place. Even a child of 9 can do the maths on that one.

        • Len Holliday says:

          As far as I am concerned; ALL OF YOU ARE FULL OF IT! Go home and study 2nd grade math for a year or two so we can be assured you know how to add……etc. I am sick and tired of all your lies. Most people on the these forums could not tell the truth if they had to! You guys have a great day of more lies,lies and more lies! Hope you live a very happy life telling lies and having no respect for your elders! Next time you want to call the Iraqi Dinar a scam or call the people that have invested their hard earned money into the Iraqi Dinar, go look in the mirror! GOOD NIGHT IRENE!!!

          • Len, it’s out of respect for people that skeptics like me debunk scams like the dinar. If it were up to me, nobody would ever spend another cent on them.

          • Len….Unfortunately, you are patently insane if you really believe that you will make ONE CENT by buying Dinars. I am truly sorry (no really…I am) that you got conned into this scam (I mean “investment”) There are no easy ways to get rich!! Even the best stock market stories of riches (which have indeed happened) involved the substantial risk of a LARGE amount of capital! No one HAS EVER made millions of dollars from an investment of a few hundred (or thousands) of dollars without risking a lot of cash or being awarded stock options or warrants. Dude get your head out of the Iraqi sand and get on with your life!

          • It’s rare to see that much wrong packed into such a small amount of text.

          • TAURUS says:

            Makes one wonder!, why would anyone person try so hard to prove a whole country and its currency is a scam? Next they will say IRAQ is nowhere near the Garden of Eden! Iraq is real. There curency is real. Don’t they spend it over there? Proven fact….. there currency has in the past been valued at over $3.21.
            Why is everyone so sceptic that those Proud Honorable People can not work together and Go International? this is not just an Iraq RV! this is a Global Reevaluation of numerous countries currencies. Just my Personal Opinion. TAURUS!

          • I take it you have invested. I’m sorry. We ALL make mistakes. Be brave and own up to it, and move on. Throwing tantrums gets you zip in this life. The dinar is crap and that’s that. It’s no different then people who fall for phone scams or anything else. Stop berating people having an adult discussion, be a man and face up to the fact that you got ripped off. Don’t be lazy. Do some research BEFORE you part with your money!

          • Rob says:

            Mike is a passionate man therefore he has to believe that the IQD is a scam because for him not to believe its a scam would bring him to the conclusion that the family empire would be on the brink of being destroyed….

            Mike, please let me know when the rules changed; to date bankers have enslaved the uneducated middle class people.

            We know this from the existence of the UNIFORM COMMERCIAL CODE [STRAWMAN] -TRUE or FALSE

            The bottom line is sooner or later the currency’s are going to reset/change therefore IMO the less people holding foreign currency’s means their will be more people in the pool for enslavement = higher returns in your pocket. That is the only logical reason I can think off for your presence on the net. if I am totally off the mark Please do let me know your reason behind wanting to help the battlers of this world….. We live in such a chaotic world our biggest problem is working out who is telling the truth or who is BS – currently IMO you are BS – prove me wrong!

        • you missed the entire point of my post which was to say dealers of anything with a fluctuating value dont sit and wait for it to go up, they flip flip flip, sometimes they lose when things go down sometimes they win when they go up but the quicker they flip the more guranteed they are to make their marign on that item. if a seller of something sits on it it can just as easily go down as it can go up

    • Paitin says:

      What?! He’s looks to be all of 12 years old. And he sites no, I said no sources to back his opinion. I don’t know whether there’s a windfall in the dinar or not, BUT NEITHER DOES HE! Give me one example of a windfall investment (like google or yahoo) that wasn’t scrutinized by the “know more than everyone else” parrots, mindlessly repeating what they’re told to ejaculate on the hopeless public. Do your research, calculate the numbers (which usually don’t lie) and make a decision to act or not act based on knowledge not rhetoric! What goes down has historically gone back up. Investing 101.

  2. GF says:

    Oh please! I bet you have your ready. Stop trying to deceiving the ppl you know it is real

    • I own no dinars. If I thought they’d go up in value by millions of percent, I’d own as many as possible. But that’s not reality.

      • you bring up a good point. all these people who have top secret intel and are 1000% sure its gonna revalue next tuesday. why dont you go take out a second mortgage on your house, it would be stupid not to if its a sure thing lol

      • Rob says:

        So Mike – do you agree that 2 planes in 2001 [911] where responsible for the entire collapse of the twin towers. if u answer YES, so be it – if u answer NO – could u please explain who was responsible!

        • Patrick says:

          I’m not Mike, but the answer to your question is, without a doubt, yes. So there’s no need to speculate about who was responsible. We know who was responsible. Of course, this is not the appropriate forum to debate off-topic issues.

        • bryan says:

          i believe govt. was responsible

          • And you probably win a few dinar as well. Oh, wait… Aren’t you missing the Alex Jones show? You’d better get back to it. Don’t want to miss any of that trenchant commentary on what the NWO ZOG are up to! Hurry along, now.

          • Edward Rothschild says:

            Which government? I think its initials are SA, and I do not mean South Africa.

        • Diana Doria says:

          Our own government took down the towers and anyone with eyes and a brain that works KNOW that..nuff said.

          • I suppose you may be right that someone with eyes and a minimally functioning brain might “know that.” However, if we add the criterion of the ability to read, “knowing that” changes from “the US government brought down the towers,” to “19 terrorist hijackers motivated by their extremist beliefs brought down the towers.”

            Anyone who can read (and I suppose I should also include a basic level of intellectual honesty and humility) *should* know that the Bush administration had nothing whatever to do with the collapse of the towers..

        • Cartman says:

          No… Jews, obviously…

      • paitin says:

        Just because people make stuff up doesn’t confirm your opinion as to whether this is or is not a scam. Try looking at what the numbers are saying. Why base your conclusion on idiots that love attention. Its simply currency. Not some secret investment only interesting to pumpers sitting in there basement in soiled underwear, glued to their computers, waiting to top the ravings of others just like them. Half of those nuts couldn’t form an intelligible sentence if they had a gun to their heads.This conversation is stupid! Either you’ve done your research and read real documents or you’re making your decisions as a reactionary response on hearsay. I personally wish people would let the conversation die. If it is an opportunity, i want to quietly partake and avoid the attention. Does Buffet demand that every one believe he’s right about his investments? No! We hear after he’s already made a bundle. Then all the non thinkers go out and buy the stock or commodity. Respectfully, all you dinar holders, shhhhhh . . .who cares whether bloggers agree. Let’s be intelligent and let the B.S. stink up the forums filled with blogging crazies. Meanwhile, we stay grounded by research and study staying in or getting out based on verifiable information.

  3. Vere Nekoninda says:

    Great article, Mike. I love the sentence with the phrase, “any time there’s a money-shaped hole in the world…”. It is a worthy image.

    In the first paragraph, I had trouble figuring out what the word “it” was referring to, in the phrase, “taking to social media to demand it”. “It” seems to refer best to the revaluation, which isn’t explained until the fifth paragraph.

    I’m curious about one point, which you didn’t address directly, concerning the Twitter postings that are demanding US Government action. Does the US Government have any authority or mechanism to revalue the dinar? It seems like that is a decision for the Iraqi Government.

    • As far as I know, the US gov’t doesn’t have the authority to do anything with Iraq’s currency. It would be Iraq’s Central Bank making the final decision, and that they’re the ones who keep putting off a redenomination.

      • world econimics is a complicated thing but even the cbi can’t just decide hey we want our money worth such and such. it has to be in relation to the countries wealth and other factors. look at argentine, they say theyir money is 5:1 with teh dollar but nobody has faith in that rate so if you were to travel there you could get 10:1 for your dollar.

  4. alancoaks3 says:

    The Central Bank or Iraq Governor has been talking about deleting the three zeros/ Redenominate and he agrees it should be done. So does alot of economists.

    • They’ve been talking about it for a while, and even postponed a plan to do it several years ago. But more importantly, redenominating is not the same as revaluing. One is fairly common, the other is a fantasy.

      • if you have an interest in this ssubject take a read of the book confessions of an iraqi dinar dealer, its free if you have amaon prime. itss basically an education on the dinar. i wish i would have read it before buying a few million

      • Jeff Burden says:

        Mike, The former CBI Bank president has stated as recent as 5 yrs. ago the Dinar would return to it’s former value and would be the strongest in the area ! Hillary Clinton said on National TV in 2011-2012 said that Iraq would become a global leader in that area, Why would she say that? was she blowing smoke up the World’s Butt !? I think not!!

        The U.S. did this in the past, Why do you think when Clinton left office we had No Debt?

        And I’ve read in your article that the U.S.Treasury dose not hold any of Iraq’s Currency, I personally was told by my Congressman’s office that they had record of The Treasury purchasing 4 Billion Dinar in 2011, Why Would they do that ???
        President Bush made the statement on National TV that this was 1 war that the U.S. would not have to pay for, Why would he say that ???

        I know of people in the country of Jordan who owned the Kuwaiti Dinar when it revalued and They Did become MILLIONAIRE’S !

        How did they do that??

        The fact is that our Government is not honest with us….Be carefull what you say on your phone ! They might take offence.

        Just 1 man’s opinion, but do some more homework and thanks for allowing me to express my 5th amendment right.

        • Hey Jeff….Are you a Dinar dealer or just someone who thought he’d get rich quick without having to do a damn thing to earn it??

          • Jeff Burden says:

            Hey Chris, I hope things are good for you and Mike, I’ve been observing the things that you 2 put out, and must say If I didn’t have the facts that I would agree with the both of you.

            And yes I own Dinar!

            I also want to say that both of you are very good at what you do, you even got me to respond lol lol

            the difference in what you put out and what I’ve learned in 3 yrs. is that I know >>> WHAT HAS HAPPEN AND CAN TELL YOU IT IS FACT, AND YOU TELL PEOPLE WHAT IS NOT GOING TO HAPPEN, to me that’s about like people that use to say man would never walk on the Moon, but we did ! and at one time you would think that we won’t go to Mars but we will !! NASA’S getting ready for that little trip as we speak. I suppose a skeptic would say they will never make it, They said that about the Moon also lol lol.

            And finally, I like a good banter, Yes I do !!, but when it gets to the point that one has to call the other an idiot,
            ( and one of you made that mistake with me ) That’s where I’m going to back off, The reason being that I’ve learned a long time ago that when you point 1 finger at someone there 3 pointing back at YOU. !!

            You guys are doing a great job, keep up the good work.

        • randell1985 says:

          You are an idiot if you think the u.s did not have any dept when Clinton left office when clinton left office u.s dept was at over 30% of the GDP

  5. Walter Clark says:

    An important question to ask is how did investors get so stupid as to make this con possible. I suspect it is because the more and more common folk are getting money to invest and the common folk more than the rich have been accustomed to have their decisions protected by government regulators. I predict that this familiarity with government protection is going to emerge as a call for protection in the form of yet another agency of enforcement, or certainly expansion of existing agencies of enforcement. The last thing the enforcers want is the same last thing the con wants; a responsible and intelligent investor.

    • There have been some arrests for dinar-related Ponzi schemes, but the actual selling of cash dinars is legal, thanks to the “money service business” loophole. I’m actually surprised the Treasury hasn’t cracked down on this, but I also don’t know what they can do, short of banning the import of dinars into the US.

      • its not like the dealers are conning people its individuals who own dinar pumping the crap to oter people on the internet. heck even the largest most reputable currency exchnage businesses like travelex, chase, wells fargo sell dinar and dong. they dont care what your buying it for. how is it their fault if some idiot who’s not even traveling to these countires wants to drop a few grand on their worthless currency. there is no loophole, banks and dealers provide a product and a service which is in demand, its not up to them to educate people on the fact they dont understand monetary policy and are gullible and stupid

    • Audrey Forrest says:

      How true. I continue to be amazed at the vulnerability of the get rich quick loser! The casinos are full of them and now they are fodder for the cons and scammers. What is so pitiful is the way they are in denial and believe the cons even when they are shown the truth. Greed is the downfall of these folks.

    • there have always been lazy people and people who want imediate gratification but never like it is today. people want to be rich but dont want to work for it. heck even investing in stock is work doing the research. these people think all i have to do is click a button on the computer and wait and im rich beyond my wildest dreams duh um okay lol

  6. Michael says:

    I have this bridge over Sydney Harbour. Just a few units left. Anyone?

  7. Siobhan says:

    Thanks for this timely article. One of my friends has “invested” in Iraqi dinar, which I instinctively thought was a bad move, but never got round to looking into. You’ve confirmed my suspicions that any “get rich quick” scheme only makes those who are selling it rich.

    • Good for you for dodging this. A lot of people have been sucked in, and are very vocal about how they haven’t been sucked in.

      • Ramona says:

        I cannot seem to get my husband to stop buying it. I just simply ask him where he is getting his information from and he gets defensive. I am analytical and may be even to a fault. But I like cited sources, not “dinar guru” or “dinar news”. I want to be able to pull facts from different places and discern them. I ask him when is his when, because every year the timeline for when it’s suppose to revalue is like a goal post that keeps moving. It starts in April and then it’s then November than April again. So we are going on two years and he keeps on saying we need more. Any recommendations?

          • Nick Boyer says:

            There is a ton of disinformation out there if you are interested in a site that actually offers some great information regarding political news involving Iraq check out that link above. They don’t sell dinar or anything else for that matter just a discussion board.

          • UK Dinar boy says:

            Do you know where we can do the exchange once time comes? Can we do it in any local bank? Also is it going to be a straight forward exchange or will I get interrogation of some sort?

            Its not like we are exchanging abit of holiday spending money this is a global reset

        • Hi, Ramona. I’m sorry I missed this comment earlier. The piece I wrote cites a number of good sources, such as a couple of articles from Forbes and the WSJ. A search for “Iraqi dinar scam” will bring up others.

          The other thing I’d do is maybe have him sit down with a financial professional, someone you trust at a bank or brokerage firm, to walk through some of the numbers on this. Any right-thinking person will see that it’s just not logical to invest $1,000 and walk away with millions. Money doesn’t work that way. And someone who works with money might be able to convey that.

          The bottom line is that there is no RV or global currency reset, and the dinars your husband is buying are essentially worthless.

          • Dave b says:

            To Mike Rothschild
            Where’s your masters degree in currency or your doctoral degree in international currency affairs. If you would take the time to read the actual articles coming from Iraq like I have done you’d understand what you’re advising people in this forum is so way off base. You have no right not one to tell people that this is a scam that this currency will never revalue you need to do some major research before you give an opinion like you’re giving famous quote it is better to keep one mouth shut and be thought a fool than to open it and remove all doubt enough said I can’t read anymore this crap

          • Flatch says:

            The Dinars are NOT worthless. Where are you getting this from? You are lying. You can convert dinar into $ right now at 1166:$1. If it moves to just 1000:$1 you have gained 16.6%. Who’s to say how much its going to increase over time? Don’t buy any if you don’t like it. But you are no authority on this investment.

          • It’s not going to increase in value. If it did, it would make ISIS extremely wealthy. I’m pretty sure nobody in what’s left of the Iraqi government wants this to happen.

            At some point, Iraq will either take back control of its territory or split into three countries. At that point, the dinar will be re-denominated into something else, and the RV fantasy will vanish once and for all – at least until it’s replaced by some other scam.

        • there’s a number of good books on amazon debunking the whole dinar thing. buy a couple for him and tell them he can keep buying as long as he reads these books first

      • Audrey Forrest says:

        I was approached by a friend to invest in this ludicrous scene. I heard Warren Buffet say he never invested in anything he didn’t understand. My friend used the words “the buzz” told it to her, that the average joe wouldn’t be allowed to get rich, and that’s why this was so special!!!
        In spite of the research I did and shared with her, she is in complete denial, has invested thousands, and got the “tip” from another friend who has invested a large sum. Fact is they are both greedy people who have tried get rich quick schemes for 30 years and neither of them got rich.
        The claim that the Government didn’t want people to know about it, and that the dollar was about to collapse is fixed in their heads.
        Thank goodness somebody cared enough to create this forum.
        As Forrest Gump said “stupid is as Stupid does”!

    • i bought a few million dinar back in 2004. its worth about $200 more per million than i bought it for even taking into consideration big dealer spreads on buybacks. i paid about 500 per mill i could probably get 800 per mill from a dealer or maybe 900 if i sell myself. thats a profit of say 300 per million on 4 million that’s $1200. sure maybe silver would have been a better investment but im up none the less. i never had any illusions of making thousands of percent profits though, i was happy to maybe double my money

  8. you wrote a pretty good article and got most stuff right for someone new to the dinar so props on being well informed and doing research. what you said about dealers not being treasury registered is untrue however. most do market it as a collectible but any reputable dealer is treasury registered. that said a treasury registration doesnt relaly mean anything as there’s no approval process anyone can get one.

  9. Anonymous says:

    The global financial system is in a state of flux with much work going on behind the scenes. A fundamental change from a debt based fiat currency structure to an asset backed equity currency structure is occurring.

    Once one has an understanding of this structural financial change from a fiat system to an asset backed system one can begin to understand the how and why of this investment.

    Some relevant links:

    http://www.youtube.com/user/Fabian4Liberty?feature=watch

    http://whitehatauxiliaries.wordpress.com/

    • gatsby says:

      You can’t fix stupid.

    • Barry says:

      Sorry to break it to you Anon, but Iraq has exactly the same “debt based fiat system” as everyone else on the planet. The CBI (Central Bank of Iraq) has around $75-80bn of assets to “back” over 84,500bn Dinar. It really is laughable you think a country like the USA with $15tn in circulation but a $15tn economy is “over-valued” but a country like Iraq who’ve printed a massive 84,697bn Dinar but have only $80bn CBI reserves and an economy based primarily around selling $98bn of oil per year is somehow “under-valued”. It’s also laughable people are still trying to justify this scam on the back of “America has the only paper currency” on the planet.

      The Central Bank of Iraq has printed 19x more Dinar banknotes for 31m Iraqi’s than the Federal Reserve has printed $ for +320m Americans (almost 200x more banknotes per person), and at the same time, Iraq has an 83x smaller economy ($16.6tn USA vs $200bn Iraq) and about 280x less gold reserves (8,133tn USA vs 29t Iraq). You do the maths…

      And when people start quoting absurd “white hats” blogs who quote “TNT Tony” (Anthony Renfrow – who is currently being prosecuted for fraud & running MLM schemes) as a “serious intel reference”…

      Case information: USA v Renfow, 2:12MJ00126-GGH-1
      Charges: 18 USC 371 and 1349, 18 USC 1342 and 2

      http://www.quatloos.com/Q-Forum/viewtopic.php?f=6&t=9793
      http://www.baghdadinvest.com/stryker-blog-tnt-tony/

      …then you know all credibility has gone straight out the window…

      • Anonymous says:

        barry, if u actually read my comment and are able to understand what is written then you would know that Iraq is included in the “global financial system.” Your breaking revelation is not. The new global financial system, which will include Iraq, will value a countries currency based on the assets a particular sovereign entity has in its possession. Gold, Silver, Platinum, Oil, Timber, etc. As i said before the current global debt based fiat system, which does include Iraq, is in a state of flux and will be shifting to an asset backed equity based financial system. This new asset backed global financial system will include Iraq as well.

        Iraq has a lot of assets, not only gold and US dollars in reserve, but Iraq has the second largest proven oil reserves in the entire world.

        Any RV of the IQD will include a redenomination and all “three zero” notes will be eventually be taken out of circulation and replaced with lower denomination notes. After some time the three zero notes will no longer be accepted as legal tender.

        Whatever number for IQD in circulation you are using when doing your “maths” remove three zeros for a post RV number.

        In regard to the white hats blog. Again, if you actually read the blog and are able to understand what is written the WH blog cites Tony’s remarks, and the comments of others, to be critical of what is said in an attempt to clear up confusion and provide some clarity. The author of the WH blog is in fact very critical of Tony at times.

        I would suggest you do more reading and understanding of what is being said and written before you comment. If you are interested in an intelligent debate you should drop your ignorant, uneducated pre-conceived notions. You just might be missing out on the opportunity of a lifetime. ;)

        • Barry says:

          I’m well aware of the conspiracy and it’s completely and utter nonsense. Iraq has only $1.2bn worth of gold,and they SELL all their excess oil they don’t use. You can’t “back” a currency with a barrel of oil that you will either use yourself or sell to someone else to use. It’s just one giant fantasy constructed by Dinar owners who know almost nothing about Forex to try and convince themselves of their imaginary “windfall”.

          And the “white hats blog” is just another crackpot website with a 100% track record of failed predictions hanging onto the coat-tails of RV guru’s as “click-bait”.

          • Anonymous says:

            “You can’t “back” a currency with a barrel of oil that you will either use yourself or sell to someone else to use.” in todays western dominated financial landscape that is true. As i have stated before in order to have an understanding of this investment one has to be able to see beyond the current sick and dying financial paradigm.

            The current financial system is broke and dying. Do your homework and one will see evidence of this disease. If you cannot look ahead and see what policy and structural reforms will be necessary to cure the global financial system than your current opinion and lack of understanding will take precedence.

          • Brian Simpson says:

            Anon – “You can’t “back” a currency with a barrel of oil that you will either use yourself or sell to someone else to use.” in todays western dominated financial landscape that is true.”

            It’s true no matter what! If you burn up a barrel of oil then it no longer exists! It becomes carbon dioxide, carbon monoxide, sulphur dioxide, water vapor, etc. Even a child of 8 understands this basic concept…

            Anon – “The current financial system is broke and dying”

            Which still doesn’t stop the Dinar “RV” from being a scam. You’re one of those juvenile conspiracy theorists who runs round trying to “explain” everything on the back of waving a “the end is nigh” placard around…

        • Len Holliday says:

          What you say is 100% correct! I was a stockbroker for 20 + years and I am telling you that this Iraqi Dinar investment is real and you will make a lot of money if you hold these things until the RV is over. But, as you have already stated the Iraqi Dinar is just one currency amoung many that will be part of this Global Reset! Most Americans can’t seem to except the fact we have no money because they have been taught to spend like there is no tomorrow as they have and the real pay day is here! But, we have to money so the G-20 has come up with a way to save the world and this is it! Bush was right when he said the Iraqi War was already paid for!

        • Flatch says:

          A lot of the negative posters are ignoring the valuation of Iraq’s reserves. Proven reserves are real, bankable assets. Iraq has a lots.

      • Nick Boyer says:

        They bought nearly 36 tonnes of Gold just last month didn’t they?
        http://www.iraq-businessnews.com/tag/gold/

  10. Mac says:

    You have much to learn, my young Padawan. Whether Iraq lops zeros and redenominates, or they revaluate, a global currency reset has already begun. The line forms to the left with brilliant economists and contrarian investment experts that have already gone on record about the global shift out of petrodollar dominance, and into an SDR currency basket. Oh, those people are way, way smarter than me and you. Lastly – unless you’ve spent time studying and trading Forex, you shouldn’t reference it to support your argument, it’ll strip away any credibility you’ve tried to build with your reader in a heartbeat. Enjoy your evening.

    • Anonymous says:

      one needs to be able to think outside of the current financial paradigm to have an understanding of this investment.

      • Justin Pentecost says:

        That’s genius .. “one needs to be able to think outside of the current financial paradigm to have an understanding of this investment.” That has to be attached to every scam I’ve ever heard about .. “It’s not that I’m stupid it’s that YOU don’t understand ..” And another pensioner is parted from their money ..

  11. TJW says:

    I hope your also ready to publicly apologize when the Global Reset occurs and the Iraq Dinar (among others) increases in value and makes you now look like the fool. You didn’t do enough homework – Iraq NEEDS this to take place an re-enter the WTO. This weekend is pivotal

    • If the “global currency reset” happens this weekend, I’ll go ahead and apologize.

      But I probably won’t have to.

      • chris cox says:

        Rothschild, I’ve held Iraqi Dinar for three years, and have slowly added more over time. The barrier to entry has been low, or to put in terms you’d understand: it’s cheap. And even if it never revalues at the astronomical rate we still believe will happen, it was ALL worth the cost of admission. In the meantime I’ve enjoyed a dream that Dinar skeptics and cynics, like you, never will. Ya see Mike, my life and that of thousands of others who hold what you maintain is worthless…is about to change. We’ll be wealthy beyond your wildest dream. Sorry my friend, while you’re basking in the afterglow of wordsmithing “I told you so’s….” and fatuous caveat empties, many of us will be planning a trip to some exotic tourist destination…thanks in large part to a belief that dreaming the impossible, while taking a ridiculously affordable risk with a payday to crush all others…really is possible afterall.

        • Chris, what makes you think any of that is actually going to happen? And how many times has the RV been about to happen and not happened?

        • Justin Pentecost says:

          Chris, Your post explains it all .. you have paid out a couple of thousand dollars for a dream and the key is to enjoy the dream you have paid for, but the most important thing is to keep quiet about your dream and don’t involve friends and family, if you win as big as you appear to think you will win you can give them a couple of thousand, however if the notes are withdrawn from circulation and your hoard becomes worthless then you will not have let down your friends and family ..

    • Barry says:

      ROFL. People have been pumping the even more nonsensical “GCR” since NESARA in the 1990’s. I’ll bet you my HOUSE nothing will happen “this weekend” TJW, because “this weekend” is churned out by the same fake guru’s every single week to the gullible.

      And when “this weekend” comes and goes, rather than admit you’re wrong you’ll do the “guru” thing in simply “moving the goalposts” and say “next weekend, then”. And then “the weekend after”… And “the weekend after that”… etc.

      There is no “RV” or “GCR” (outside of conspiracy la-la-land).

      • Anonymous says:

        “There is no “RV” or “GCR” (outside of conspiracy la-la-land)” – Baree

        At the 9:11 to the 11:17 minute mark IMF Director, Christine Lagarde, talks about the Global Financial Reset.

        http://www.weforum.org/sessions/summary/global-economic-outlook-2014

        • Barry says:

          No, you’re just putting words into her mouth and hearing what you want to hear. “Reset” as she was saying means changing the policy away from QE and “financial reform” was clearly in the sense of ending financial services over-leveraging. “Structural reforms in product markets” – is not even about *anyone’s* currency value. LOL.

          Not once did she say anything about inflated 3rd world currencies like the Dinar being “under-valued” because they plainly and simply aren’t.

          If you want a “serious debate” on the imaginary “GCR”, I suggest you talk to this guy who utterly demolished it and showed just how brainless the guru’s behind it are:-
          http://dinardouchebags.blogspot.co.uk/2014/02/february-update.html

          The whole concept of “backing” an over-inflated currency with oil reserves is total gibberish because it would result in double-counting. Oil is already factored in, in the sense of exporting oil for $. You can’t count the same barrels of oil twice (once as reserves and twice as exports), LOL. You really don’t understand what you’re saying, and appear to be one of those “special” conspiracy addicts who hears a triggering buzzword “reset” then crayons in your own contorted meaning.

          • Anonymous says:

            Bari – you are entitled to your own opinion, your rationale is your own. You are certainly entitled to your own interpretation of the facts and do your own “maths”

            I would suggest reading and giving your best effort to fully understand another recent speech from Lagarde mentioning a broken financial system based on the Bretton Woods Agreement:

            http://www.imf.org/external/np/speeches/2014/020314.htm

            And For the 100th time, if you cannot see beyond the current structure of a broken financial monetary system you will remain perplexed and confused as to the how and why of this investment.

          • Brian Simpson says:

            You’re badly hallucinating my friend. Your “speech” says NOTHING WHATSOEVER about pretending over-inflated currencies aren’t really inflated. Or the Dinar. Or a “GCR”. Or even currencies in general! It’s all about the industrial revolution, communications revolution, the environment, population growth, etc. The fact that China has a larger GDP still has nothing to do with the fact the Dinar simply isn’t “under-valued” – as the same IMF you love to quote have said themselves:-

            “A report on Monday by the International Monetary Fund (IMF) suggests that the Iraqi dinar is currently fairly valued at 1170 dinars to the US dollar:”

            http://www.iraq-businessnews.com/2011/03/30/imf-suggests-stable-iraqi-dinar/

            As I said – all you’ve done is put words into people’s mouths that they simply didn’t say, try and twist the facts to suit the “Doomsday rhetoric”, then get flustered when others refuse to share your made-up fantasy…

          • Anonymous says:

            Brian – the article you use to back up your point is from 3/2011, it’s about 3 years old. Slightly above your ability to understand and disseminate reality at a high level.

            Also, no one who believes in this investment and understands the risk reward profile of this investment thinks there is any “doomsday” scenario on the horizon. Quite the contrary, In order for you to understand that no “doomsday” scenario is being given any thought you would have to read, comprehend and fully understand words written on paper which by your prior posts is obviously a challenge.

            Maybe this investment isn’t for you and you are certainly entitled to that rationale.

        • Brian Simpson says:

          Anon – “the article you use to back up your point is from 3/2011, it’s about 3 years old”

          Yes and the Dinar’s value hasn’t changed in 3 years. And the ratio of Iraq’s reserves vs money supply hasn’t changed either. A 3 year old truth trumps a 1-week old lie (no matter how many times you repeat it).

          Iraq has printed 85 TRILLION Dinar but the CBI has only $80-85bn of assets (inc gold) to back it with. That’s why its fair market rate is under 1000:1 in the first place! Iraq’s oil which gets 20% consumed and 80% exported isn’t available for “backing” anything, and the USD’s it earns from that oil go to fund the Iraqi govt’s domestic spending in place of taxes. Facts that are obviously WAY above your level to do even junior grade maths or comprehend how pegged currencies actually work in the real world.

          95% of Iraqi oil revenue gets spent on domestic Iraq police, security, healthcare, education, infrastructure, etc, not 100% donated to the CBI – and even then Iraq is STILL running a budget deficit. If you want a more “modern” article, then try these:-

          “National income in 2014 is estimated at about 139.6 trillion ID, with a deficit of some 20.8 billion ID”
          http://rudaw.net/english/kurdistan/01022014

          “Iraq cannot finance its projected 2014 budget deficit unless the northern Kurdistan region pays its oil export revenue into the national treasury – or loses its share of state spending, a senior lawmaker said. Haider Al Abadi, head of parliament’s treasury committee, told Reuters the budget, swollen by extra expenditure, would “collapse” if the state kept paying the autonomous region its 17 per cent share even as the Kurds with hold oil export proceeds.”
          http://www.albawaba.com/business/iraq-kurdish-oil-income-550222

          “Iraq’s state finances are increasingly vulnerable to a drop in oil prices and the government could have difficulty financing this year’s budget plan, an International Monetary Fund official said on Monday.”
          http://www.reuters.com/article/2014/01/27/iraq-imf-warning-idUSL5N0L12G920140127

          The truth back on real-world planet Earth away from “RV ‘fairies & unicorns’ guru land” is that Iraq can barely pay for the 2014 govt budget they have with their $113bn oil revenue without running a deficit, and you’re laughably sitting there fantasizing about them turning a $73bn currency into a $300,000bn currency which would bankrupt them in about 0.0002 seconds, for absolutely no reason…

          You can stamp your little feet and throw around all the insults you like, your $859 worth of Dinar aren’t going to “magically” turn into $3.5m LOL just because the CBI adds barely $5bn to its coffers (whilst continuing to print more money) :-D

          • Anonymous says:

            Please don’t discount the amount of proven oil reserves Iraq lays claim to. 2nd largest in the world. Once the world switches from the current fiat debt based financial system to a fairer more transparent asset backed equity financial system the rationale for this investment just might make more sense.

            If you cannot see beyond the current western dominated fiat financial landscape you will forever remain perplexed and confused as to the how and why of this investment.

          • Brian Simpson says:

            Anon, it’s very clear you haven’t a clue how currencies are valued. To start with, Iraq’s 140bn barrels of oil are actually the 5th largest in the world behind Venezuela (297bn), Saudi Arabia (267bn), Canada (175bn), and Iran (157bn):-

            http://en.wikipedia.org/wiki/List_of_countries_by_oil_proven_reserves

            At 3m barrels production per day, those 140bn barrels will be spread out over the next 127 years and “priced” into each year’s economy in the form of $ earned in exports. YOU CANNOT COUNT THE SAME BARREL OF OIL TWICE (once as reserves then again when it actually gets dug up and sold years later)! This is why no country on Earth “values” any currency according to stuff that won’t be dug up for decades, and no amount of special pleading by Dinar “investors” with over-inflated entitlement issues like some old colonial imperialist sitting on a throne declaring foreign resources to be “his personal blessings” will change that.

            Venezuela has DOUBLE Iraq’s reserves, and they redenominated / lopped the Bolivar from 2,150:1 to 2.15:1 in 2008 just as Iraq are planning to do with the Dinar. Iran have 10% more oil than Iraq and have a currency way down at 25000:1. Why? Because they’ve printed over 20x more money than even Iraq has! Kuwait has 25 % LESS oil than Iraq and they have a strong currency. Why? Because Kuwait have printed only 30bn KWD, whilst Iraq have printed over 85,000bn IQD. Isn’t that shocking – printing 3,000x more money causes your currency to fall in value by 3,000x over the same time period? I mean, who could possibly have seen that one coming…

            http://en.wikipedia.org/wiki/Hyperinflation#Iraq

            Shouting “If you cannot see beyond…” when YOU are the one who clearly hasn’t a clue about how currencies are valued or why the Dinar fell to way below 1000:1 as a result of +300% year-on-year rates of inflation in the 1990’s long before the 2003 war kicked off, then you’re better off stopping making a fool of yourself…

            With 85tn Dinar in circulation, and only $80bn Forex reserves to back the peg, the Iraqi Dinar is NOT undervalued with a peg under 1000:1 – it’s just inflated through printing too much money (85tn Dinar) absolutely no different to the Lebanese Pound or Somali Shilling.

          • MLB Peace says:

            I’ve just found this article and the wonderful banter … except for the rude name calling, it’s quite fun. If one is unable to convince another of his/her opinion, does not automatically make the other person stupid. Perhaps one needs to be clearer, find a way to rephrase the position or bring other facts to bear. Don’t presume to know another’s background, education, or whether they are lazy or greedy because they think differently. How boring things would be if we all had a cookie cutter mind set.

            That said, as to your remark, ‘Iraq has printed 85 TRILLION Dinar but the CBI has only $80-85bn of assets (inc gold) to back it with. That’s why its fair market rate is under 1000:1 in the first place!” If the good ol’ USA went by that standard, our dollar would be dragging the bottom. U.S. federal debt stands at $16 trillion, and we have less than 1/2 trillion (under 500 billion) in gold. And even less in other hard assets. And we also continue to print more money.

            Just sayin’ …

    • Did the reset happen this weekend? Or is this coming weekend the pivotal one?

      • Rob says:

        still waiting for your opinion Mike – do you agree that 2 planes in 2001 [911] where responsible for the entire collapse of the twin towers. if u answer YES, so be it – if u answer NO – could u please explain who was responsible!

    • you realize the IMF as well as economists from london school of business and harvard school of business have said “global currency reset” is not a real financial term adn was completely made up by gurus like tnt tony?

  12. No, she actually doesn’t. She’s talking about “resetting” fiscal policies. She never mentions anything about a “global currency reset.” I can’t even find a definition for what that’s supposed to be. You know why? Because it’s not a real thing.

    • Anonymous says:

      Listen carefully, IMF Managing Director Lagarde mentions the word “reset” 7 times in two minutes. “Reset” was specifically associated to monetary policy ie QE, re formatting monetary policy and most importantly a reset of monetary structural reforms in all economies, not just emerging market economies.

      Mike In defense of your article you are certainly entitled to your opinion and interpretation of the facts.

      • Lynn says:

        The IMF will never come straight out and spell the GCR out in plain english. This is a well kept secret until it happens and has been years in the planning with 200 countries involved. If you know what you are looking for, then you will understand. If you are not open to the idea, then you will never understand what is being stated. A scam is defined as losing your money, the Dinar is not a scam as it can be sold back for a fractional cost with minimal loss.

        • Brian Simpson says:

          “If the IMF says the GCR is real then it is, but if they don’t say it’s real then it’s still real because they probably wouldn’t have said it anyway…”

          Same stupid “double-speak” used to justify every other scam too (NESARA, etc).

        • @Lynn – If the GCR is a “well kept secret” then how do you know about it?

  13. Justin Pentecost says:

    I hate to mention this and thus urinate on a few peoples parades, but surely like all countries with a “Soft” currency import or export of paper currency is forbidden? It was in Czechoslovakia when I lived there in the early 90’s. Also there has been talk of re-denominating the currency for a long time, so it’s highly likely that the notes have already been printed, so there is nothing to prevent the central bank re-denominating very quickly, which would make sense as it has to be done quickly to avoid confusion. You could announce it on Friday (when there is no business anyway) and people could exchange when the banks open specially on Saturday and on Sunday morning when business resumes you have a totally re-denominated currency with the added advantage that there would be less in circulation because all the money held overseas as notes would be unable to come back to be converted and would be worthless.

  14. All of F3 says:

    Shut up Justin and stop making sense.

  15. Billy California says:

    I invested in dinar a few years ago, I mean I didn’t sell my house or nothing but at the time I had some extra funds to mess with, honestly I do not believe in this, and think it’s crap how people treat and get over on others.. I still have mine and I’m always checking news mostly as entertainment, I jus didn’t want to be the one kicking myself in the butt if it did happen lol..

  16. Trader X says:

    I am ready to bet anyone $10,000$ the reset doesn’t happen this weekend. Anyone?

    • Brian Simpson says:

      This is precisely what revels most investors “faith” to be paper-thin. They’re all talk about “You’ll see when x happens on y date”, yet not one is willing to put their money where mouth is (probably because not a single “RV” or “GCR” guru has ever got a single prediction right on anything remotely to do with currencies…) ;-)

  17. Robl1263 says:

    Hey Trader X, I will take that bet and add another $10,000$ to it. So everyone that makes $20,000 USD that the reset doesn’t happen this weekend.

  18. Anonymous says:

    I have lost more money in the stock market and the lottery than I will ever lose on my iraqi dinar. Why bash people for buying something that they believe in. Just because you would not buy or invest does not make it illegal or wrong for me or someone else to do so. The money lost in the stock market and the lottery can never be gotten back, but as stated above I can at least sale mine back to the dealers for a small loss. And by the way some banks do sell the iraqi dinar, I personally bought most of mine from a local bank. If it was a scam it would already be shut down.

    • Brian Simpson says:

      “Why bash people for buying something that they believe in.”

      Probably because a well-known scam doesn’t stop being a well-known scam just because you personally can’t see the obvious and have “strong beliefs”…

      “If it was a scam it would already be shut down.”

      That’s like saying “Insurance fraud can’t possibly exist because if it did, all insurance would be banned…” It’s entire possible to run a mis-selling scam on a legal tender currency.

      • Lexton Cage says:

        @ Brian…why are you here? If this discussion upsets you so much why would you keep being negative to those of us who invest in this? I hate to tell you this but you will have cake on your face when this is all over. Take Care

  19. Renee Roberts says:

    Mike Rotshchild—–Why don’t you investigate the US Treasury that regulates all of the Dinar currency traders in the US, why banks until very recently sold Dinars to US citizens and more than all of that, why the government being as powerful as it is, doesn’t try to shut down the Dinar Guru sites if they are so full of scamming etc. You need to do much more research into this before you call this a scam…also you need to educate yourself about Executive Order 13303 and what is happening on the Iraqi front to substantiate all of this. Don’t be a fool and fall into the easy “It’s a scam trap”,,,,there is a huge amount of information out there about the Global Reset, about the corruption and manipulation of the foreign currency markets etc.

    You need to do much more investigation on this one, especially if these are the only sites you’ve been too:

    The Ugly Truth About the Iraqi Dinar
    Posted on February 10, 2014 by Mike Rothschild
    Does it make sense to you than an investment opportunity could pay a 2,750,000% return on what you put in? That for the price of a latte, you could buy a new house, and for the price of a new … Continue reading →

    Posted in Urban Legends | Tagged #wearethepeople, forex, GCR, global currency reset, iraqi dinar, iraqi dinar brokers, iraqi dinar scam, release the rv, scams, TNT Tony | 51 Comments

    • Brian Simpson says:

      “there is a huge amount of information out there about the Global Reset”

      And like Guru “RV intel” is 100% fabricated feel-good “Hopium”.

  20. njgungadin says:

    Reminds me of a joke:

    The prosecution made their presentation. The Judge listened attentively and at the end nodded his head and said ” Your arguments are right”.

    The defense then presented their case and at the end the Judge nodded his head and said “you’re right”.

    The court stenographer looked up from his machine and asked the Judge ” You honor, how can both of them be right”

    The Judge thought about it for a moment and said ( you guessed it) ” You’re right”.

    So I guess those who think this is a scam, must also think Tony Renfrow is a lunatic to be taking on the Administration and getting so many people to follow his lead. Or maybe you have figured out his reasons for doing all this. If so please give us your opinion on this.

    • TONY TURD IS A PSYCHOPATH WHO HAS SOMEHOW BRAINWASHED USUALLY INTELLIGENT PEOPLE INTO BELIEVING A FAIRY TALE AND MAKING FOOLS OF THEMSELVES. I WILL NOT QUIT AND I WILL NOT FALTER UNTIL I SEE THAT CONVICTED CONMAN IN PRISON. THAT’S WHAT I THINK ABOUT ANTHONY RENFROW

  21. Missouri Gal (from the Show Me state) says:

    I suspect there are one or two people who made a profit on this investment: for the average fraud involving future value the investor who sells first reaps the benefit of everybody else’s optimisim.

    The official FBI website has a huge library of scams that makes fascinating reading.

  22. Anonymous says:

    What say you to this recent article?

    http://www.azzaman.com/?p=62222

    – FEBRUARY 17, 2014

    Private banks will proceed to implement the instructions of the Central

    BAGHDAD – just Kazim

    The head of the governor of the Iraqi Central Bank and the Agency Abdel Basset Turki a meeting of general managers in the bank and a number of departments, private banks, as well as members of the Association of Banks in non-governmental organizations in Iraq.

    A source of (time) yesterday (that the meeting discussed the instructions for the sale and purchase of foreign currencies that have been working out from last Sunday, he said (banks expressed their willingness to implement the instructions to enhance the value of the Iraqi dinar against foreign currencies and began procedures to implement those instructions

    • From the translation (since the original link is in Arabic) it sounds like the author is talking about redenomination. Which makes perfect sense, since that’s what Iraq is going to do.

      And as I say in the piece, redenomination isn’t going to make anyone rich.

      • bingo says:

        Delete the zeros from the dinar increases its strength against the dollar and easy to draw a price policy

        BAGHDAD / Nihad Kazim

        Image

        He said experts and specialists in regard the country’s financial The implementation of the project to delete the zeros from the Iraqi dinar will increase the strength against the U.S. dollar, in addition to facilitating the drawing political price in the country, as demanded a parliamentary committee by clicking on the government, “which disrupted the project” to force it to be implemented through texts Constitutional which allows the printing of a new currency, pointing out that the country’s exit from Chapter VII, and to achieve the balance of Iraq’s 76 billion dollars in international banks catalysts to delete the zeros.

        The decision of the Commission on Economy and Investment parliamentary Mahma Khalil said in an interview with the “long” The parking Government against activating the decision to delete three zeros from the Iraqi currency under the pretext of fear of counterfeit currency is not justified, especially as the regional climate is ripe after the withdrawal of Iraq from Chapter VII and raced companies Global investment to invest in Iraq.

        He added that there is a legitimate action as a means of pressure on a government to force it to retreat from its position, including recourse to the constitutional provisions that allow the printing of a new currency and to address the weakness of the Iraqi dinar against the U.S. dollar as a necessity of economic urgency after that had a balance of Iraq’s sovereign global banks 76 billion dollars.

        For his part, said economic expert Majid picture “long” The Central Bank of Iraq in agreement with the Ministry of Finance presented the studies necessary for the process of deletion of zeros since 2008 and has taken all actions relating to the restructuring of the Iraqi currency, including the design of the currency and denominations and the quality of paper used her, who confirmed that from the finest stainless paper cash or difficulty falsified.

        He added that the executive branch has decided to postpone the process of restructuring of the Iraqi currency, which led to the cessation of all actions related to this project, explaining that the aim of the restructuring process is to reduce the cost of handling and facilitate transactions handled, especially medium and large as well as to facilitate the draw price policy in the country.

        He stressed the need to accompany the process a package of measures distributed responsibility on all departments and state institutions and banks in order to develop solutions to the problems and obstacles that can arise during the process of restructuring, including cash, and accounting, and security as well as take the necessary measures to destroy the currency received canceled.

        He pointed out that the experience of Iraq to replace the currency in 2003 was very rich, but did not exceed only change the shape of the currency and replace it, so you do not need accounting requirements or legal, calling for the need to educate departments, banks and citizens feasibility of restructuring the currency as well as the use of modern technologies to detect fraud, also called to the non-interference of politicians and subjecting such decisions to Mazidat and political skirmishes, because that is not in the interest of monetary policy and the Iraqi economy.

        Meanwhile, a financial expert, Thamer Alheimus “long” that highlighted the benefits of the deletion of zeros is to create flexibility and ease of trading, and gave the example that in the case of activation of the decision will be coin values ​​of small Kkhmsin fils or less, and under that will highlight the prices between the fourth dinars and half dinars or less, and thus would be unlikely in a large increase in the value of the Iraqi dinar against the U.S. dollar in the case of Sir prudent monetary policy according to which it will contribute to the improvement of household incomes and low-income social strata.

        http://almadapaper.net/ar/news/459657/%D8%AE%D8%A8%D8%B1%D8%A7%D8%A1-%D8%AD%D8%B0%D9%81-%D8%A3%D8%B5%D9%81%D8%A7%D8%B1-%D8%A7%D9%84%D8%AF%D9%8A%D9%86%D8%A7%D8%B1-%D9%8A%D8%B2%D9%8A%D8%AF-%D9%85%D9%86–%D9%82%D9%88%D8%AA%D9%87-%D8%A3%D9%85

        • bingo says:

          The use of gold in central bank

          2/22/2014 0:00

          D. Falah Hassan Thuwaini
          due historians and economists history of the discovery of gold as a metal to 4000 years BC or more, to the year 2000 BC as the date to use the cash for gold, as has been noted in the Code of Hammurabi (1792-1750 BC) in several articles, including Article 112 to use Gold which states that reads ((If a man linked to a commercial flight and gave the silver or gold or precious stones … and deposited transported If this guy did not deliver what shall then be transferred … to the man to pay for the owner of the funds to be transferred five times as much as him him)). And that the first gold coin was minted due to the year 700 BC. In 1816, England was one of the first countries that have adopted the use of the base of gold coins as a basis for monetary system based where then until World War II, as the countries that have followed this mechanism then to stop striking gold coins and withdrawn from circulation and converted into the coffers of the central banks in order to assigning and supporting its reserves, has emerged then another mechanism for the use of gold, a base gold bullion that was used in the second decade of the twentieth century by England, France and America, which were conditions important is the freedom of movement of gold, which provides a free market for gold and also the central banks sell and buy gold in unlimited quantities, in accordance with the price set, followed thereafter adopt a rule transfers the gold and the emergence of the IMF’s role in the management of the international monetary system after the year 1944 where it was decided to use gold to pay 25 percent of the membership dues of principle.

          arrived emphasize the importance of gold cash Referring Ricardo (1772 – 1823) one of the pioneers of the theory of traditional monetary that money circulating in the light of the gold standard are affected, including the Central Bank of gold, and confirms that the monetary issuance shall be subject to metal cover 100 percent, and that keeps the central bank with gold equal to the money Exporting to avoid excessive version and also indicates that the factors affecting the balance of gold related to the size of the annual production of gold.

          generally contributed to the use of gold as money and cash reserves to maintain the stability of currency values ​​at the local level (the stability of the general level of prices) and on the external level (currency exchange rate domestic against foreign currencies) and correct the imbalance in the balance of payments automatically, because each country’s currency linked to the weight of a certain gold and then having a steady relationship between the various currencies because the evaluation criterion is consistent and stable, which is gold, but due to the changing conditions of the global economy and the multiplicity of variables political, economic and demographic became amounts of gold available in nature is able to neutralize or dam the amount of the required parameters, so it turned monetary systems global monetary base paper mandatory, but nevertheless remained the gold is a great importance in cash reserves in the monetary systems of many countries in the world even after the announcement of former U.S. President Nixon in 1971 to stop converting the dollar into gold.

          has worked many of the world’s central banks are currently on the re-formation of the components of their portfolios of reserves by increasing the relative importance of the origin of the traditional, a gold compared with other foreign currencies convertible to the nature of the gold from the relative stability , at the time when the change in the value of the currency exchange rates is the adjective highlights.

          in Iraq amounted to the monetary value of gold to the Central Bank of Iraq in 1955, the equivalent of 3 million Iraqi dinars constitute a relative importance of 2.4 percent of the total foreign reserves, after the exit from Iraq Sterling area in 1959, this value rose to 30.7 million dinars at a rate of 23.9 percent, and increased to 59.6 million dinars at a rate of 27.6 percent in 1971. At the end of the year 2012 amounted to gold reserves amounted to $ 1860236 million dinars distributed among the treasury CBI 268.638 million dinars, and the Bank of International Settlements by 1591598 million dinars.

          has issued Central Bank of Iraq and as part of the mechanisms of monetary policy, issued a press release in January 2014 in which he announced for his basic gold bullion ranging weights between the weight (5 grams) and kilogram (1000 grams) in order to diversify the means of saving among the public and allow large quantities of pure gold, and reliable sources of traders in gold, investors are selling Iraqi dinars.

          One advantage of adopting this mechanism for the monetary authority is the possibility of the use of these gold bullion reserves guaranteed and limited change in the value of deposits with foreign banks, compared with the changes that occur in the exchange rates of other foreign currencies, as well as being a strong indicator assigns the value of the Iraqi dinar in the international and domestic market and to the possibility of monetizing gold and convert it into monetary units in local currency or other foreign currencies easily, and also could be speculative limited a reason to be a focus on the use of gold bullion with weights bulk of any near 1000 grams for the non-use of speculators and as gold prices are relatively stable, the retail operations alloys or re- Tsenaiha any other use deliver them the cost of which is difficult to speculation in or upon and then be prevention requirements and hedging is an attribute most present any common property saving more than the phenomenon of circulation among the public, and also limited quantities of gold any unavailability of the amount or quantity as is the case with various foreign currency as well as the difficulty of warping, which creates an incentive for workers or investors in gold.

          and required control and supervision by the Central Bank of Iraq and the responsible parties other related to the prospects for the smuggling of gold, which is imported by the central bank and sell it through the banking system to the beneficiaries.

          But remains the central bank and its monetary policy is facing challenges as long as the work without attribution of the real sector, whatever the tools and methods used will remain an urgent need and urgency to the real sector by reducing the cash conversion cycle Leech abroad (import non-product), especially in light of availability of human and material resources in our country . * Faculty of Management and Economics University of Mustansiriya

          http://www.alsabaah.iq/ArticleShow.aspx?ID=64960

  23. medryk says:

    WOW! hasn’t anyone noticed that this guys last name is ROTHSCHILD. lmfao……. down to the elites

    • Nobody has ever noticed that. You’re the first. Congratulations! You win 1,000,000 Iraqi dinars.

    • Jeff Burden says:

      YES I’VE NOTICED THAT… and look at how young he is, makes me wonder what his comprehension level is….With age comes wisdom, He probably owns more Dinar than the whole Dinar community combined ! and is a direct descendent of the richest family in the world and doesn’t need the cash !!!

      The thing he won’t acknowledge is it’s happen before in Kuwait, But we know better! it’s like pieces and to a puzzle, Put them together and what do you have….The complete picture! all any smart person has to do is have the information and connect the dots. Duh

  24. Jeff Burden says:

    Medryk !!! I told you ! he had Dinar !! he just offered you 1 Million Dinar, I take that offer too !! lol

    Get em Med.

  25. Mark Jones says:

    Of course there are two sides to the coin. On the contrary, some people are of the opinion that the Iraqi Dinar could undergo a further devaluation after the economic sanctions against Iraq are lifted, and that the Dinar could even be replaced by a new currency, which could still be exchanged for dollars. So, if you invest in Iraqi Dinars, make sure that you invest in the new Iraqi Dinar, and not the old one which has the picture of Saddam Hussein on it.

  26. Marie says:

    Reading this article and comments after have inspired me to watch wolf on wall street again. I hope Martin Scorsese is taking good notes. There is truly a great Jordon Belfort in the making. With the loyalty and belief he has created in his followers, that’s a seminar I’d sign up for!

  27. Egor Michaels says:

    Amazing that a Rothschild would comment on fiscal issues :) Since that family name is responsible for manipulating world financial markets to suit its own greed…

  28. bryan says:

    who cares if it doesn’t revalue this week? or in 2 months
    think of it as a long term investment or what ever you want to call it

  29. Jul says:

    Mike, I don’t invest in foreign currencies but stumbled upon this thread and found it interesting. May I add, I am in the neutral zone here. I would appreciate your comments on the following. When the world economy crashes eventually, and that appears inevitable, the value of assets like oil are going to go through the roof. Wouldn’t that increase dramatically, the value of any currency held by the oil producing countries, including Iraq?

    • Jul – I’m not operating under the assumption that the world’s economy will collapse or crash. It never has, and has survived numerous depressions, recessions and wars. And oil isn’t bought and sold using dinars, not even in Iraq – it’s bought and sold with dollars.

      The bottom line with the dinar is that there’s no reason for it to increase dramatically in value, even with Iraq’s oil reserves. What will eventually happen is that Iraq will lop zeroes off its currency and introduce a new dinar, trading at close to a 1:1 ratio to the dollar. But this isn’t going to make anyone rich.

    • Patrick says:

      If “the world economy crashes,” holding Dinar isn’t going to help. In the event of that kind of universal collapse, governments will collapse, and all the international systems that could hypothetically give exchange value to the Dinar will have collapsed. No one holding Dinar — and most likely those holding anything else, including Dollars — will be too busy trying to survive to be able to go online or down the street to the local “gold and silver exchange” to collect their earnings.

      Can you imagine the chaos following the collapse of the world economy? I can’t. But I can try to get an idea based on looking at places in the world today where social systems have collapsed. Iraq, Syria, Sudan, etc. Does anyone think people in those places are worried about the value of the Dinar?

  30. Ramona says:

    I love an opposing view. We all can learn something. Me and my husband have Dinar but I am the skeptic because I need facts and intelligle arguments because there is always another side. To be honest I just wanted to support him but losing a little respect for him at the same time. Why are people with Dinar so defensive. Can’t we have a productive argument with opposing views. Why is someone bringing up 911 conspiracy theory to prove his argument about the dinar revalue. That’s just plain silly!!
    Thank you Mike for the article, it was well written and an eye opener.

  31. Robert Evans says:

    stand up to facts that I have experienced. When I purchased my one million Dinar the cost was $620; the current price is 890; pardon the rough math estimate but I think that is close to a 40% profit on my initial investment. I would ask the the expert here is a 40% profit a good thing? The currency has not lost value, it has gained in value. I would also point out that all investments have risk and buying the currency of a wartorn country is especially very risky. I wonder how many people would have said in 1946 that buying Japanese Yen was a horrible and risky investment- do you get the point of what being done? This is not a 5-10 year investment this is a 15-30 year investment. Iraq has lots of Oil, other natural resources untapped commodities that I can’t mention in this forum, but just look at how many Oil companies and investors have already moved into Iraq.

    • Robert – the problem is, you can’t buy dinars for what they’re worth. You have to pay a massive markup both on the buying and selling end, ensuring that your “40% profit” is entirely eaten up by broker fees. You have to turn a huge profit just to break even, and with the dinar not having moved at all since 2009, that’s not possible.

      And while it’s gained in value, that’s only because the exchange rate went from 3,000 to the dollar to about 1,170 to the dollar. They’re still worthless anywhere but in Iraq, and even Iraqis don’t use them for anything but minor transactions.

      Do you honestly see yourself making any kind of profit on a currency that nobody uses, that has no value and will be replaced in the near future?

  32. Grim Reaper says:

    You’re a Rothchild and it’s obvious who and what you are. You don’t want any poor people to become rich. But you will lose the war. And you will writhe when you reach your damned destiny.

  33. bigtip says:

    LOL ive enjoyed reading most of these comments. True it might be another ten year, but common sense knows that the country will bounce back. There is to much oil there not to be wealthy. You are a fool to think anything else. If Iraq wants to make the USA purchase the oil from them using the dinar then it becomes very valueable its up to them. Yes it will come around but if you spent your life savings on it then your dumb lol. If you can go outside and burn that money you spent on it then shouldn’t invest in it. So let the people who invested do what they do if you don’t like don’t invest and let it be that! Thanks for a good laugh though I enjoyed it.

  34. Skeptical investor says:

    So I wanted to run this past people on here, especially Bella, who seems pretty knowledgable and no nonsense.

    I know a guy who is heavily invested in Dinar. He is proposing the following to a group of associates:

    – We purchase dinar from the US Treasury (say $1000 USD for $1 million Dinar)

    – The Dinar are sent directly to him upon purchase

    – The next day he will send a check back to us with interest ($1100 USD)

    – When he sells the dinar after the RV he will take a 10% commission but we get the proceeds

    I have thought through every scenario. This is obviously too good to be true, but if he is paying us back extra for the initial purchase, there is essentially no risk.

    Can anyone on this forum come up with a reason why this would be a bad idea?

    • Is this a joke? First, the “RV” is not going to happen. Second, he’s not going to send you a check with interest. Third, he’s not going to send you millions, keeping only 10% (if the RV had happened, which it won’t).

      On the other hand, I live in Nigeria and I’ve got this $1,000,000,000 inheritance I need to move out of the country. You send me $10,000 to pay the fees, and I’ll give you 10% of the inheritance once it’s moved! Great deal! Post your contact info and we can make the deal!

    • Assuming you’re not trolling, you really don’t want to do this. You can’t buy dinars from the US treasury, only from private brokers who charge a massive markup. Also, the RV is never going to happen. But even without all that, what makes you think the guy would send you the check in the first place?

      If you really want dinars, just buy dinars. Or, better yet, do literally anything else with your money.

      • UK Dinar boy says:

        I am a dinar holder I have 275,000 dinars around $500 investment which will give me an attractive enough return once RV occurs. Maybe I’m a fool or made a clever move but $500 isn’t going to bankrupt me to find out, anyone who bought $1000’s of dollar’s worth is greedy or even irresponsible. BUT anyone is a fool not to have atleast ONE 25k dinar note

      • Skeptical Investor says:

        Thanks for the replies fellas. No, I’m not trolling.

        This guy is a legitimate business person, whom I’ve known for a few years and have other “out-of-the-box investments” with, which actually have paid off. So I do have a certain level of trust in him.

        An excerpt from his recent email to me…
        —————————-
        I have a private buyer for my Dinar. As soon as I get paid, my buyer will let me do it one more time. However, I cannot buy more Dinar with my new payout; although I could buy more Dinar before I get paid. Anyway, I can have a few friends come in on my 2nd buy and that’s where you come in, if you want.
        —————————-

        He is saying there is a good probability he will sell his first package at 20 cents USD per Dinar. Once this first deal is done, he will notify us it is OK to move ahead – for example, I buy $1000 USD ($1 million Dinar) from a place called treasuryvault.com, have them shipped to him, he wires me back $1100 USD that same day, then he does the second deal w his buyer, which includes our investment as well as some more of his.

        If he can’t sell the 2nd package, he has to hold onto the Dinar until/if RV happens. Big deal if RV doesn’t happen… I still essentially get my investment back plus a little more. There is a chance of course he sells at 20 cents per Dinar and I make a windfall.

        The worst case scenario is that he doesn’t wire the money, which I believe is unlikely because of our history. I’m trying to get him to wire it first, then I’ll make the purchase and ship to him. Then there would be virtually zero risk.

        Thoughts?

        • There is absolutely no reason for anyone to buy dinars for 20 cents a pop. You can get them on any dinar broker site for a tenth of a cent.

          Do not do this.

          • Riiiiight says:

            Yes everyone should just do as you tell them. No questions asked. Be drones and compliant to your wishes.

          • You think people should make bad investments based on phony conspiracies?

          • Riiiiight says:

            That’s what YOU say. You use the word conspiracy to sell YOUR opinion. You use it like a self-serving security blanket to manipulate people who might be terrified of the word “conspiracy” but guess what? Your whole life and your whole site is one big shovel of BS. And you are the last person to talk about honesty. Anyone can turn it around on you! So…Mike ROTHCHILD crappy screenwriter, you think people should make bad investiments based on your say-so and buy into your phony conspiracies and believe everything you say because of this bag of wind you’re selling? BTW anything with “Wind” in the title isn’t an automatic best seller. Just saying. And the title on this thing. Wow. What a non-seller. You have quite a BS rapsheet going on here.

  35. Skeptical Investor says:

    That’s good advice… I appreciate it.

    Just so I completely understand when talking w this guy… Can Iraqis get Dinar for 20 cents a pop? I’m wondering if he is simply speculating RV happening or if he is somehow selling to someone over there who will buy for a different amount?

    • I’d be shocked if this guy can get anyone to pay anything more than face value for the dinar. In fact, the only people buying dinars for more than what they’re worth are the people buying them from dinar broker sites. Ordinary Iraqis certainly wouldn’t spend that kind of money on them.

  36. Iggy J. says:

    I loved your article! My parents in-law believe in this scam so much it is so very sad. Not only do they believe in this they are banking on it! They got the whole family involved as well, except for me & my spouse. Thank goodness we have sense. I cannot understand the ignorance. To think instant millionaire from a small investment is asinine, at best. What I haven’t seen very much of in these warning type of articles, is the emphasis of time these scam artists not only put into it, but get in return. My parents in law are on bi-weekly conference calls and read daily newsletters, sometimes listening for hours as to how to get the money when it comes in, how the government will be tracking them for their life and to get burner phones, to rent armored trucks for the truck loads of money, not to tell anyone(probably for fear anyone with common sense sends them to reality), why it hasn’t happened YET, how other countries already revalued but somehow NO ONE on the web has any proof, and the other stuff you mentioned. I have traded the stock market for a few years and let me tell you, if other countries did accept a new currency There Would Be Proof! The stock market would change, there would be evidence. I also don’t understand this blind faith! How can you invest your hard earned money, without doing your own research? Before and during a real investment, real research has to be done. If you don’t like it, then the scammers deserve your hard earned money, bravo. The parents have invested more time on this than enjoying real life. I think they may never realize how much they hurt the whole family and how much time this has taken, that they will never get back.

  37. Jimmy Gold says:

    We will see what happens. But it has happened…..starts with a K……for all who don’t know,
    as mentioned above Im sure, It’s Kuwait…also alot smaller than Iraq! And infested with evil
    for only seven-months!

    Mike, what do you do ? Write? Nice. All the power to you, did you go to school for banking?
    Accounting? asset management? Infrastructure rebuilding? Do you work for the IMF?
    World bank? Do you live in Iraq? You don’t need to answer these. I don’t care. :) this is my money,
    my lesson and either way they are beautiful bills that are elite, that will always be collectible.

    At the end of the day, we can do what we want and what better way to learn! Really.
    One life, your life, that God ( however you see him) gave you. All I have to say is be conservative
    and go with your gut! Don’t believe everything you read. Don’t put your eggs in one basket.
    Never know, there are a lot of currencies that may revalue that have stable economies: India, Indonesia, China, Canada.
    Tell me Mike Negativity, Did the Somali shilling revalue?

    Remember 911. Blessings to all. Good luck.

    • Riiiiight says:

      He won’t answer that because he hasn’t been to any schooling on ANY of that. He’s a shill. For lack of a better term. I got the goods on him though. I’ll be sharing that link with everyone. ;)

    • “As mentioned above, I’m sure.” – Thanks for letting me know you didn’t read the piece.

      Anyone in any of the fields you mentioned will tell you the dinar is a terrible investment sold by people taking a massive commission, and is virtually impossible to sell back for anything close to what you paid for it. But hey, it’s your money.

      And no, the Somali shilling didn’t revalue, at least not in the “RV” pie in the sky sense. It went up in value because of a unique set of circumstances that don’t apply to Iraq.

      http://blogs.ft.com/beyond-brics/2014/03/20/the-curious-tale-of-the-world-beating-somali-shilling/

  38. shejustis says:

    REALLY? Boy will it be fun to see what all the sheeple here do when this does happen! Go to the IMF site and start listening to all the talks that Christine Legarde does. We are in the middle of a global currency reset and revaluation to level the playing field. It’s all in plain site – it you look. This is an event that has been in the making for centuries.

  39. Jimmy Gold says:

    I did read the piece, I meant the comments Woody.

    Somali schilling: please note that this is the rate of 2012, with no history!
    Click me:
    http://treasury.un.org/operationalrates/OperationalRates.aspx

    Now click this:
    http://www.xe.com/currencyconverter/convert/?Amount=1&From=USD&To=SOS

    Who made a killing?

    – Never said Somali’s circumstances applied to Iraq Jimmy cakes.

    Bro , give me your address, I’ll spend the dollar and send you 1000 dinar.
    Consider it a lotto ticket from your bud in Canada!
    Life is all about chances. Some with results and profit, some with lessons.

    Mike, it is a good article, this is fun, keep it up.

    Kind regards,

    • If the shilling has nothing to do with the dinar, why mention it? To prove that sometimes currency goes up in value? Of course it does. This is not a “revalue.”

      When you start bringing up the currency of a country that’s regulated by black market warlords, you’re getting into desperation territory.

      • AHW says:

        I’d just like to point out that your own United States is regulated by warlords. Warlords who profit directly by selling arms and other military services, often to both sides in conflict at once: Lockheed Martin, Boeing, BAE, GD, Raytheon – you know who you are. The size of the military industrial complex in this country makes me sick. May you all live in “desperation territory” until your inevitable demise.

  40. Jimmy Gold says:

    Yep. What would you call It then Mike?

    Sometimes? How old are you?

    Who regulated Iraq, peacemakers?

    4486 troops gave their lives to liberate Iraq.
    Do you think this was done for no reason?

    Mike, do you like to speak English? Or das German?
    It is because of the past, you have a future!

    Desperation? Who wrote the article.

    Support your country bro.

    It’s all about opportunity, and a good attitude.

  41. Jimmy Gold says:

    I thank everyone involved in the wars that have
    protected us and gave us opportunity.
    Thank you for your service.
    God bless. As I, would die for you.

  42. Laura says:

    I have a friend that invested in this. I looked online to see if this is possible. I have not found even one thing that backs this up. I have been watching Dinar Gurus for nearly 2 years and it seems to keep going through the same cycles. They make it seem like it is going to happen momentarily then suddenly it is not quite ready to happen. This has been going on for the nearly 2 years I have been watching it. I have tried to tell her about the things that raised red flags with me but all I get are denials from her. She refuses to believe it is a scam. She went to a local bank and asked them when it was going to happen and they told her truth. She insists they are lying.

  43. I’m sure all of us have blown money on bullsh*t before. I’ve blown $1,000.00 on bottle service in Hollywood and even more in Las Vegas a few times. I’ve even made it rain on a stripper with a phat @$$ many of times! You can’t spend it after you’re dead and gone…lol. So why not toss 1000USD at Iraq for 100,000IQD and see what happens? It’s not your money, so why give a f*ck? #CarryOn #Dismissed

    • Spend your money on whatever you want to. But using fraudulent promises to convince other people to spend their money is wrong.

      • Mark says:

        But advising people not to invest because of your own personal beliefs is right? Right… At the end of the day it’s still not your money and not your business what others do with theirs.

        • Really? Do you go to every web site that offers investment advice and tell them what you do with your money is none of their business, or did you make a special exception for us?

  44. Comment says:

    Should I say more you are a Rothschild. In for disinformation at the finest.

  45. ConcernedFuture says:

    Well written article or personal supposition at best. What makes your information any more believable than all the dinar gurus? Your article lacks any viable support but purely your opinion of how things are. Yes I agree there is a lot of bad “intel” on many dinar boards, or as it’s called “hopium”. but I find that there are even more scams when it comes to politicians of late. This is where the biggest “scam artists’ reside. IRS, Obamacare, Bundy ranch in Nevada. Need I say more.

    • Rob says:

      Foreign Currencies

      The IRS does not prevent the use of 401(k) funds to purchase foreign currencies, including [size=16]Iraqi Dinars. In fact, our Solo 401(k) Plan documents permit the purchase of foreign currencies. Many believe that foreign currency investments offer liquidity advantages to the stock market as well as significant investment opportunities.[/size]

      By using a Solo 401(k) to purchase foreign currencies, such as the [size=16]Iraqi Dinar, all foreign currency gains generated would be tax-deferred until a distribution is taken (pre-tax 401(k) distributions are not required until the Plan Participant turns 70 1/2). In the case of a Roth Solo 401(k) Plan, all gains are tax-free.[/size]

      http://www.irafinancialgroup.com/solo401kinvestments.php

  46. Imagist says:

    First disclosure: I have owned Dinar for some time. Recommended by a successful businessman, I followed his instructions. Stuck it in my sock drawer. Did not know of guru’s until in a party a month ago… fascinating!
    Dinar is a real currency so it has value. Value is dubious because of the country and government, or lack of, backing it. It could go down or be declared worthless at anytime by same government.
    That said, if you believe the news releases by the government, Iraq wishes to enter the world financial market, stock and currency markets. Again, dubious statistics show a 13% growth in GDP (oil I assume) and a reining in of inflation. Paying down its debt.
    Both positive steps.
    I was looking for the dinar to be worth a penny to a dime at some point but would be willing to accept the 3 to 30 dollars promised by some. ; )
    My “investment”? break even if I sold it back to a dealer at this point… in the money if I could get what they sell it for now.
    If any part is a scam it is the claim of future values, not in the dinar itself.

  47. marie harper says:

    This isssue was a battle between my now exhusband. Over years he continued to purchase believing any day “RV”. To this day he continues to purchase Iraqi currency from a group called safe dinar.com. The interesting part of this, the group carries the BBB approval. According to Forbes this dinar scam is noted on the top 10 lol. I suppose the title of Forbes article “You Cai Fix Stupid” says it all.

    • Lexton Cage says:

      Hate to tell you Marie but your ex isn’t an idiot. The currency will NOT RV but it will gain value. I feel safe to say it will free-float. Forbes calls it a scam simply because its presented as a “Quick” or “Overnight” investment. They are right…its not going to be either BUT it will happen. I strongly believe when the Dinar re-values and it will, the Vietnamese Dong will follow….He may be an idiot for losing you but he’s not when it comes to this…

  48. Adam says:

    Saben los llamados dinaristas lo que actualmente se esta programando en el CBI para hacer con los dinares Bremer? No creo! pero cuando se enteren los acusados de fraudes lloveran.

  49. Mohammed says:

    Yes, exactly. Redenomination and revaluing are very different things.

  50. Mark Jones says:

    That means there’s no way to figure out what a fair price is for a Bitcoin. And that’s ultimately the digital currency’s undoing. It’s nothing more than a (wild) speculation.

    • Rob says:

      Foreign Currencies

      The IRS does not prevent the use of 401(k) funds to purchase foreign currencies, including [size=16]Iraqi Dinars. In fact, our Solo 401(k) Plan documents permit the purchase of foreign currencies. Many believe that foreign currency investments offer liquidity advantages to the stock market as well as significant investment opportunities.[/size]

      By using a Solo 401(k) to purchase foreign currencies, such as the [size=16]Iraqi Dinar, all foreign currency gains generated would be tax-deferred until a distribution is taken (pre-tax 401(k) distributions are not required until the Plan Participant turns 70 1/2). In the case of a Roth Solo 401(k) Plan, all gains are tax-free.[/size]

      http://www.irafinancialgroup.com/solo401kinvestments.php

  51. DedraDale Smith says:

    I have been on BOTH sides of this mess, having purchased Dinar, and later realized I had been duped. A friend had pressured me into purchasing, insisting that the experts said it was happening tomorrow.. it was always ” tomorrow “. When I tried to sell the Dinar back to Sterling, I received a massive runaround. Phone calls that were unanswered, alternate calls that were disconnected, online chat service that was not manned. After having to threaten to call the state representative, and other governmental officials by name, I FINALLY got through to someone. It took 2 weeks and strong arming them to get the Dinar sold back, minus a hefty return fee. I lost money , both buying, and then selling it back. Good luck to others who decide to try to return the Dinar. It’s a scam of hellish proportions.

  52. Michael B says:

    The first time I read about buying Iraqi Dinars several years ago two to three hundred dollars bought one million dinars. This article now say that one dollar buys one thousand dinars or doing the math two hundred and fifty dollars buys two hundred and fifty thousand dinars. Sounds to me like the value of the dinar has quadrupled since I first heard about it.

  53. brian wells says:

    Why do all you people who think the dinar thing is a scam, loiter on this site for many months trying to persuade people that it is a scam

  54. brian wells says:

    Iraq possesses 37% of the world’s oil reserves, 75% of the world’s phosphates, 637 trillion cubic yards of natural gas, a mountain virtually made of diamonds and the two biggest veins of gold have recentl y been discovered under the streets of Baghdad. Only 40% of the country which is the size of France has been surveyed. Nobody can persuade me that the dinar, which is currently being held down at a ridiculously low artificial value, will not shoot up to it’s natural value like a coiled spring, especially now since all restrictions on Iraq have been released.

  55. Rod larson says:

    While everything you say in this article is true, you leave out an important fact. Eventually Iraq will become a trade able currency on the exchange, they have been recognized as an independent country and they are the worlds third largest oil producer, all after years of war torn strife. Just as Germany and Japan finally became recognized and their currencies trade able after WWII, so too will Iraq and also the Vietnam Dong. When anyone invests money into an investment, it should be thought of as a long term investment. While it may rede nominate and be worth what was paid for it, after it starts getting traded on the forex is when it will rise in value and some analysists believe it will rise to $3.00 or more. So plan on holding it for ten years more, but eventually there will be a healthy return, in my lifetime, or my children’s.

  56. Scott says:

    What you repeatedly hear, you will eventually believe. And then it’s almost impossible to not believe, what you do believe. Could be good or bad.

  57. Byron says:

    P.T. Barnum. Every minute…

  58. Morgan says:

    Baloney ! There won’t be any “new” Iraqi Dinar notes printed in lower denominations. That is a lie. The notes were already printed in 2003 made by De La Rue in Britain. The wealthy are buying up dinars for later. I listen to the rich for advice, not those wishing they were. A poor man never gives good advice or a job to anyone. Got my dinars in a safe. Waiting for the new peg probably around .80 to start and will max around $3.00 per US Dollar. Get yours before you cry. Chase Bank converts dollars to dinars at any location. Just order them.

  59. tomgreybull says:

    6 years ago I “Inherited” 1 million Iraqi Dinars from a friend who passed away. Therefore with an occasional passing interest I check in to see what the “pundits and hacks” say about this. I would never purchase anything along the lines of this type of HOPE investment.

    However, occasionally I did send a $25,000 bill to Bush, McCain and Obama for their political campaigns,. So I a little light now on the 1 million Dinar envelope in my gun safe.

    Where can I sell these by the way.

    • UK Dinar boy says:

      EBay is your best option, some mug will buy them off of you. It would have been me 6 month’s ago till I realised this whole diner thing is a hoax.

  60. Imagist says:

    Article Excerpt !

    Emerging market research group FMG noted in March that this was a country where oil production has tripled in a decade, where GDP annual growth rates top 10%, where the market cap of the stock exchange has tripled in three years.

    Citi has predicted it could become a $2 trillion economy by 2050 and the IMF has said Iraq could gain $5 trillion in revenues from oil exports between now and 2035. Nowhere has shown faster EPS growth rates in the last five years than the Iraq Stock Exchange, and HSBC and Morgan Stanley have shown with the Asiacell IPO that deals can be launched successfully.

    LINK – http://www.euromoney.com/Article/3354518/Category/17/ChannelPage/0/ISIS-forces-banking-rethink-in-Iraq.html

  61. marie harper says:

    Omg…your kids kids kids lol

  62. Someone was trying to convince me to invest in dinars, as he thought it might help me on my low income. I don’t ever invest, so I wasn’t going to anyway, but still…I was curious about this. It sounded too good to be true, and I’ve always, always found that the old adage is absolutely correct. It’s taken me 50 years, but I’ve learned not to take anything at face value, to ask questions–and most importantly when it comes to my limited funds going out of my hand–to look between the lines for anything that seems out of place. This blog post is some months old now, but still, very, very helpful.

    Most people getting ripped off by this scam aren’t so much idiots–though admittedly some are–as they are greedy pigs, or ridiculously naive, or just plain too lazy to be bothered to check things out thoroughly.

    People need to do as much research as they can before they part with one red cent, or for that matter, click an email link or give out personal info. If you don’t know how to do research–find someone that does! Librarians, investment brokers, whatever.

    Just don’t happy-skip into the sunset, through that field of clover, singing yippity-do-dah, until you’ve paused to consider the consequences if you happened to be wrong (about buying dinars).

  63. tankertoy says:

    I would like to say, that everyone that has hoped for a better life, that little something to help someone else or that needed medical procedure that could save or improve the life of a loved one is not the desires of a lazy workless, greedy person. I personally have worked and provided for my family, a decent paying and respectful employment, yet I have always wanted to do just a little bit more, to retire my 70 yr old mother. To buy her a car that doesnt run hot. To build an inheritance for my childrens, children that my decent paying job cant do. To afford good quality care for an ailing husband, that i fight with insurance companies just to get good care for him. Some one in my employment thought it was a good , so we invested as a group. I dont think I am stupid, dumb or an idiot in sincerely wanting the best for my loved ones. I think that the fraud that has been committed on the masses from the first mortgage deal done 100 years ago up until today is what lazy, geedy people have done. The biggest scam in history has been intiated by the want something for nothing Corporate of America. You have worked all of your lives and own nothing. So if my dream of making a little bit of comfort for myself and others possible, then let me have my dream. And if this is just what you say it is a scam, well it certainly would not be the first time. I thank you for your insight on this, it is always good to know the possibilities from both perspectives. And yeah, how uncanny it is that you’re a Rothschild. That is just not an acquired name, even if you’re a distant. No pun intended. Just found it interesting. Lol!!

  64. schon says:

    I’m not sure what to believe here. There seems to be no solid evidence from either end of the spectrum and a lot of misunderstanding between 2 very different parties. Almost sounds like our political system. For investing, however, I feel global currencies are a fantastic investment for preserving wealth. As always, don’t put all of your eggs in one basket. There is too much focus on the Dinar when there are several global currencies that will see steady gains. I hold Dinar because I like to invest in potential. Undeniably, Iraq does have potential in the long term. There is no such thing as “RV” or “GCR”, these aren’t even real financial terms. There is only the current monetary system we live with today. The evolution of the monetary system into an asset backed system globally is inevitable. Fiat systems simply don’t work and the world is coming to this realization. So when people ask me about the Dinar scandal I always positively advise them to invest pro-rata across 5-10 different currencies where countries show promise of a prosperous future. I like the term “hopium”, had to laugh at that because there is truth there. No single investment will turn you into an elitist overnight. Instead, try and look at your investments from a realistic standpoint. If a currency spike happens and the dollar collapses causing mega inflation, at least you can take pride in looking at investments logically as a tool of preservation and not as a “get rich quick scheme”. Investments gain, suffer losses, businesses fail, etc. The world keeps spinning my friends. There is no need to spread hate to each other and call names because of differences. Especially being that most are unqualified to speculate on the intricacies of the worlds financial systems.

  65. Lexton Cage says:

    Its funny BUT every article you read says”IT WILL NOT RV”….None of these articles say anything about a “FREE FLOAT”. I am a Dinar investor and I won’t sell my investment because of the negative articles out there. The chances of the Dinar to (RV) is a million to none…HOWEVER, a free float will happen, it’s just a matter of time. Maliki (The current PM) of Iraq is the biggest nightmare of this investment. I thought he would be long gone after the elections but it seems like he’s still fighting for control for a 3rd term. EVEN with him in office (And I’m not saying he will retain his position) can’t keep this from happening. This investment is like a pizza….one side says “IT WILL HAPPEN”, the other side says” IT WON’T”…..WHAT IF IT DOES? THEN WHAT? PEOPLE who write these articles post the MOST RIDICULOUS COMPARISONS….This is a long term investment, it has been in existence for over 10 years already. Ten years ago it was a 4000 to $1….now its 1166 to $1….I would say its gaining ground….Sure it may not be like the Kuwait Dinar…that was incredible BUT this will happen. EVERY country uses its own currency eventually. Do you really think IRAQ will use the AMERICAN $ forever? These people who post these articles have a little stash…I’ll bet money on this….just in case they’re wrong. If a person spends monies on lotto tickets, scratch off’s and other things why not spend a few $100’s on an investment that has a higher rate of return or better odds of winning? Even if you buy $300-400 on Dinar and put it in a safe deposit box…its a wise investment. If you can’t afford it then DON’T BUY ANY. Poor people have poor ways, rich people take risks…. Will it start out at $1, $2. $3, $32…..? NO WAY….EVEN if A FREE FLOAT started out at a dime, you made $30k-40k…minus our good old government taking its share….either way you will make money….MANY Currency traders, economist, institutional traders, theologians, professors, lawyers, political experts say this will happen…..These people aren’t idiots by any means….IF A SMALL AMOUNT OF MONEY INVESTED WILL BREAK YOUR BANK….DON’T DO IT. I wouldn’t spend more than you can afford…IF for some freak of nature this doesn’t pan out then you won’t lose your house or your children’s college fund.ONCE AGAIN,THIS IS NOT A OVER NIGHT INVESTMENT…. MAKE A WISE INVESTMENT…….No, I am not affiliated with any currency broker…..BLESSINGS TO YOU ALL….

  66. It’s fascinating that this thread has lived so long. It’s a classic “If it seems too good to be true…” situation combined with a bunch of people who fancy themselves in on a secret, which makes it nearly impossible for them to face the truth and give it up. Plus, I suppose, a sniff of the near desperation seen in end-times believers when the end repeatedly doesn’t happen. They have to justify continued belief somehow. If I were a sociologist I think I’d want to do a study of this thread.

    • Imagist says:

      Some “secret” if you and everyone else knows… For it to stay at 1166 to 1 is the difficult part to believe when it is not artificially set. Again, if it becomes worthless, you win. If it goes to a value of .01 or .10 some people will look like geniuses. And if you spent the money and you are not totally broke, why not hold it and see? The money is already out of your account.

  67. I invested in the Dinar for two reasons. One – I can afford it. Two – If it becomes worthless, then I will have just about the finest damn outhouse wall paper, that you will ever see.

  68. Steve the Fastest says:

    Why would a country inflate the value of their currency? Poor countries deflate their currency to be more competitive in the world economy. If the Dinar is revalued, as speculated, the Iraqi government would be instantly bankrupted. Besides, the existence of Iraq is questionable at this point but the dinar pushers continue to say, everyday, that RV will happen imminently.

    • tomgreybull says:

      I held 1 million Dinar for an old friend who passed away years ago. I just sold it on Ebay for about $800. I can safely say I made a profit from this speculation. I sure as hell would never buy this as an investment.

  69. wayne gros says:

    it is 100% a scam. yes I own 1,000,000 dinars. that is all I will ever buy. when u think about what they needed to do, needed big money, lots of it and what better way than to convince world to invest in worthless money, and get back real money. scam artist big time.
    wised up.

  70. Justin says:

    my girlfriend and her family has put a lot of faith in this. Now Despite the fact that I love her dearly and she is one of the most intelligent people i know I do see how it can be good and bad. The thing of it is.. i’m not 100% convinced it is going to ever revalue, either. Did i get some? yes, I did, but i got rid of it. Did I lose money? not at all and i’m thinking seriously about getting more.. why? because even if I spend $1,100 to get it now and it turns out to become 20k USD or anything higher then $1,100 USD i would say that’s a win, wouldn’t you? i agree with the original statement that I don’t see how it would ever revalue to the extent that people are saying it will. however, I don’t necessarily believe that it will NEVER revalue, either. I talked to her about some of the posts on here and she sparks up a conversation… argument really lol.. saying I’m wrong and that this is just another means to try to prevent low income or middle class to have a shot at becoming right.. or simply wealthy. She states that the Government will be putting out stuff like this in fact to steer people away from investing because if the average american person got rich off of this than the American Government would be screwed and lose a lot of their control. I, personally, understand what she is saying, but that is why i’m skeptical about it to begin with.. If she’s right and the government loses control cause they cannot control you if you’re as rich.. That’s absurd in a sense because rich or not they control cash flow despite what people will think. So either way they have control. If you are rich, they can seize your assets. Make some lame excuse why.. and there’s nothing you can do about it! So.. in conclusion… Do I think it’s a scam? I think the promise of a “get rich quick” aspect of the whole dinar RV is a scam.. But the initial investment is not. I don’t believe you will get filthy rich off of a few thousand dollar investment, but I believe that it’s possible to (if anything) have a chance to double your money. If that’s the case, and you can afford it, why not?

    • Noah Dillon says:

      The US government would love it if people invested in Iraq. It’s probably one of the few ways that the nation can become more stable and prosperous and insure that deposing Saddam Hussein wasn’t a complete failure. They’d probably prefer more productive means of investing, such as micro-loans or business and development projects. But they definitely want investment. In Afghanistan, I’ve read, the Chinese have been much better able to set up economic and natural resource-development projects, meaning that we’re paying for a new regime and security while they profit off of the labor of our soldiers and diplomats. That’s not what the Bush Administration had in mind.

      Furthermore, why wouldn’t they want their citizens to become richer? That’s one of the main functions of government: to encourage civil prosperity. The government pays for services by taxing people and more wealth means more potential tax income. I’d still be careful and skeptical about investing money in a currency that could possibly not be around in a few years. Iraq is kind of a complete mess right now. Suppose it’s broken up into smaller states based on the various regional powers? Would each one scrap the use of the Dinar and replace it with a different currency? Would the remaining Iraqi state be totally reconstructed? In Zimbabwe and Brazil the governments completely devalued and eliminated their failing currency and replaced it with a new system. So I don’t know how much money you have on hand, but if I had $1,100, I would be EXTREMELY wary of any promise of return on investment by putting it into a warzone.

  71. Richard says:

    NY Times article from 1991 reporting the revaluation of the Kuwaiti dinar

    Jul 19, 2013

    When Iraq invaded Kuwait in August of 1990, the value of the Kuwaiti dinar dropped to about 5 cents. In other words, it took 20 Kuwaiti dinars to buy one dollar.

    In February of 1991 Iraq was expelled from Kuwait, and a month later, the banks revalued their currency to $3.47, the highest valued currency in the world. When this occurred, the New York Times reported the event on March 25, 1991.

    http://www.nytimes.com/1991/03/25/world/after-the-war-no-electricity-but-kuwait-reopens-its-banks.html

    It still has no water and little electricity or food, but Kuwait revived its banking system today, introducing a new currency.

    Banks reopened for the first time since Iraqi occupation forces shut them down in December. Thousands of people lined up to exchange their old Kuwaiti dinars for crisp new ones and to withdraw a limited amount of money….

    All other old dinars can be exchanged for new ones on a one-to-one rate until May 7, when the old dinars become invalid. The new official exchange rate is 3.47 American dollars for one new Kuwaiti dinar.

    At the same time, the UN put Iraq under trade sanctions, crashing the value of the Iraqi dinar (IQD) from $3.22 to about 4000 to the dollar. Their currency could only be spent in Iraq itself, and people had to carry around wads of 25,000 dinar notes to buy groceries.

    Then in 2003 coalition forces invaded Iraq and overthrew Saddam Hussein. By 2004 we gave them a new currency without Saddam’s picture on it. The value soon doubled and went up to 2000 to the dollar. A few years ago the Central Bank of Iraq managed to stabilize the value at 1166 per dollar.

    On June 27, 2013 the UN removed Iraq from Chapter VII sanctions, allowing Iraq to regain control of close to $80 Billion in frozen funds that had been sitting in western banks since 1990. This also allowed Iraq to be reinstated on the world’s banking network, as soon as they are ready. At the same time many expect to see the IQD revalued at or near its former position.
    – See more at: http://www.gods-kingdom-ministries.net/daily-weblogs/2013/07-2013/ny-times-article-from-1991-reporting-the-revaluation-of-the-kuwaiti-dinar/#sthash.ZskH5oUU.dpuf

  72. Ali Amer says:

    if you invest $100, how much it will become when RV takes place. In business there is profit and loss. But losing $100 is nothing. Think how profit you will get if RV takes place. $100=116450 IQD.
    If RV takes place, you will have $407,575. Just for $250 investment, you will become a millionaire.But if RV doesn’t take place, you lose $250.

    Mike,If were you,I will invest even if $50 on IQD.

    • John Denys says:

      Did you read the article? The RV of the Iraqi Dinar will never happen. Using your logic it would be better to buy lottery tickets with the money. People sometimes win the lottery. No one has become a millonaire on the RV of the Iraqi Dinar.

  73. John Denys says:

    One theme that runs through a lot of the believer responses is “Why not buy some, it might happen. You never know.” The problem with this is called opportunity cost. If you spend money, say $1000 dollars, on Iraqi Dinar, then you have missed the chance to buy something else. You could have bought stock in a legitimate company which would have earned dividends. You could have bought a treadmill which would have lowered health costs down the road. The point is by wasting money on a fantasy you’re giving up the chance to use that money is a way that would benefit you.

    • That’s a really good point. $1,000 invested in the stock market, with an average rate of return of 5% over 20 years, will be over $2,600. $1,000 invested in Iraqi dinars will probably be anywhere between $700 and $0.

  74. Rick P. says:

    I would say that the Confederate dollar in April – May of 1865 had all the attractiveness of the Iraqi Dinar in Sept 2014. The South had all that farmland and untapped resources at its disposal, and it was trading at $1200 Confederate Dollars to one US Dollar on May 1, 1865. Just a few years earlier it was at one-to-one with the US Dollar when the American Civil War began in 1861. Of course, there was the small matter of a large invading Union Army in the South in 1865 – just like ISIS or the Islamic State in Iraq.

    However, I have a good feeling that the Confederate Dollar will revalue (RV), just like the Iraqi Dinar! :)

  75. Our firm specializes in foreign exchange. We have years of experience with currencies and advise our clients to avoid the Iraqi Dinar.

    Much is written about a future revaluation but what if this doesn’t happen? Good investing involves not only talking about opportunities but the risks as well. In 10 years this currency has only lost value. Over the past 5 years it has barely seen any movement, yet a small investment in the US stock market or even a CD would have outperformed the dinar.

    More concrete reasons to avoid the dinar can be found here: http://atomiqconsulting.com/should-i-buy-iraqi-dinar-5-reasons-why-we-say-no/

  76. Robert Wilson says:

    You Buyers of Iraqi Dinars, I am guessing, have no prior wealth from Investing for the most part. Investing education, ONLY comes through loosing, over and over again. The New Scam, is people out of Singapore and other area’s saying they will Broker your Dinar, for an insider’s New Price of between $1.50 and $3.50 U.S., as they say International Private bankers are quietly buying Dinars up. and will pay these amounts. I do not know what scam THESE people are setting up..? ..but you can bet it will be a Sly theft of some kind…like taking a Transaction Fee, AND taking the Dinar’s to maybe resell??? A double theft?
    My poor friend is being offered this type deal right now, and he will get stung. I am not “stupid enough” to try to talk someone so easily gullible of these types of Investments. He has already had 3 past wives, and is involved with a pie in the sky Gold Mining deal in Equador so… I am not touching any of it with a 10 foot pole. When each blow up in his face, I will just be, Ooooh !!! so sorry dude !!!
    Oh, and dudes who think they know what brought the Twin towers down. I am more apt to believe a friend of mine who told me ‘exactly’ how, and why they cam down from the 2 plans. His version jives with the Top Science Journals of our time. Oh, did I mention my friend was The original Lead Engineering Architect for The World Trade Center Buildings? He also Designed the Bejing World Trade Center. You know very little about things, events, as a human being unless you are at an event, or your good friends were there or part of that event.

  77. Wayne Bruce says:

    When playing the lottery people will put in a dollar for the chance to win an astronomical return of millions of dollars. Sound like a scam? Yes, it does however; it is still 100% legit. Now I’m not advocating people dump their life savings into global currencies, nor would I tell them to dump their savings into lottery tickets. All I am saying is If you have a spare dollar to screw around with then why not?

    I had some playing around money available so I purchased some Zimbabwe notes, since I figure if this RV thing hits I can have a good laugh at how I made it rich, and if the Zimbabwe currency never revalues then that’s fine as well. I will still have a good laugh knowing that I’m at least considered a trillionaire in Zimbabwe. Either way, I will be laughing.

    • If one approaches buying these currencies with money they had intended to gamble with, then we see no harm. The issue is that the dinar is unlike the lottery in a couple of ways. First, state lotteries are regulated so risks are made clear and transparent. Second, although there are many cases of those dumping too much money into the lottery, it is clear to most participants that they are taking a gamble.

      The dinar is quite different as many fraudulent websites exist which do not discuss the risks of the investment and make unlikely promises of massive fortune. In some cases the message is strong enough to convince people to purchase large sums of dinar, most likely more than they would spend on the occasional lotto ticket. This is not financially sound. We feel the only way to combat this is through education; the more sites such as this that clearly point out the risks, the better.

  78. Investor Bull says:

    I am so sick of individuals saying that buying Dinar is a scam. I have traveled the world and have purchased many other currencies. PEOPLE,,, buying Dinar is not a scam. I have bought franks, yen, euro pounds, yuan etc. If you have $$$$ to buy other currencies, do it. Dinar is a legal currency. I never have purchased Dinar from no Guru’s that people on here are talking about. I purchased my foreign currency straight from my bank who foreign currency. NO Guru can make you buy Dinar. Just call your bank and ask if you can speak to someone who you can buy foreign currency, & sit down with them and discuss your options!! Some people on here are saying so much nonsense. It shows the ignorance of people who do not know about investments and foreign currencies. Please, I am open for comments.

    • As multiple people have commented, the buying of the dinar itself isn’t the scam. The scam is selling the dinar based on the promise of it “revaluing” to thousands of times more than it’s worth. This is never going to happen.

      And I’ve never heard of a bank that allows you to exchange dollars for dinars. Why would an American bank want them?

    • I think a distinction needs to be made here between gambling or collecting coins vs. a legitmiate investment. If you are trying to do the former, it’s your money and who is to say how you spend it.

      The problem with the dinar is that many websites promote it as a hot investment that will yield triple digit returns. Due to lack of education on the subject some investors are not buying $5 or $50 worth but far more. This is where we feel proper education is needed. Currently the stock market is doing quite well. Even over the last 2 years, one could have made around 30% in the stock market. Had one purchased dinar during the same period they would have made no gains and will always have trouble selling them.

      • Investor Bull says:

        Yes, I agree with you. Also I just noticed that there are websites popping up telling everyone to start purchasing the Chinese yuan because of the gold exchanging now that is going on. I wonder what will people say about that?

        • The Chinese Yuan is not a free floating currency like the dollar, euro, yen, etc. Rather the government pegs the price to a basket of currencies, essentially it’s tied to the dollar. The recent news of this gold exchange is not directly related to the yuan, rather China now offers investors the ability to purchase gold contracts denominated in yuan. This news won’t impact the yuan, only the Chinese finance authorities can decide to remove or change the peg. From an investment standpoint there are more options with the yuan than dinar. Many online FX brokers allow one to speculate on the price, the idea being that the currency is undervalued at its peg: if it were to be lifted, the yuan would skyrocket.

  79. Investor Bull says:

    Adding on to my last post, Forbes.com is telling individuals to buy Canadian, Yuan & India currencies. Are we going to say that this is a scam too because Forbes is saying to buy these currencies? I bet someone will still say this is a scam as well.

    • John Denys says:

      Could you provide a link to Forbes advising people to buy these currencies? Thanks.

      My bank only has euros and dollars and you can only purchase them in packets of specific amounts. When I went to Switzerland my bank didn’t have francs so I just bought them when I got there. The population of my city is only about 120,000 though.

      I enjoy collecting currencies so I sometimes exchange very small amounts in airports just to get notes from another country. The selection is limited by geography.

      • Investor Bull says:

        John Denys, Please let me correct that. It was a Wall Street article. Here is the link. http://www.wallstreetdaily.com/wallstreet-research/pdf/TopCurrencies0312.pdf

        • John Denys says:

          The Wall Street Daily looks super sketchy. It’s the type of thing I would block from my inbox. If they are saying to do something then I would think it was a scam. A lot of the “articles” have a hysterical tone to them. One title was “How Obama Might Kill 80% of America.” That was enough for me to judge the site as a bad source.

          If that wasn’t enough for you then there’s also the fact that according to Wikipedia the company that owns the site, Agora, Inc, employs writers who have published many get rich quick books.

          Another issue is the large number of sites run by Agora. Many seem fishy just based on their names. I read “Logical Health Alternatives” and was not insired with confidence. My guess would be that they hype something on various sites to make it seem “hot” and make it appear that it is being talk about all around the net.

          http://en.wikipedia.org/wiki/Agora,_Inc.

  80. Scott says:

    Article above is the best one on the Dinar I have read and is exactly what I would write. If I was Iraq, I would do sudden three day exchange for Dinars chopping off 3 zeros for the new Dinars and do not let people come in from the outside the country. Seal the borders. This will cut the Currency in circulation from 40 trillion to 5 and screw all the speculators.

  81. wade burris says:

    Wade here, it’s true the Iraq Dinar will revalue much like the Turkish Lira in 2005…1,200,000 to 1 usd became 1.2 lira to 1 usd…There will be no transfer of wealth, as that money no longer exist..It’s true that Iraq is floating on oil, however that will have little or no impact on the value of the currency as oil is purchased in usd..Not only that but given the current climate of civil war , ISIS etc…It could be decades before Iraq is stable and able to compete in the energy market..Many “dinar bugs” hang there hat on Kuwait and it’s dramatic fall and rise in value of currency, keep in mind the first gulf war really only lasted for 4 days and stability was quickly
    established after that..

  82. dale says:

    Why does anyone care what someone else does with whats there’s. If I decided to buy mud from a diamond mine hoping it would turn into diamonds , that’s no concern of yours. The money is mine to do as I please. Worry about your own affairs, stay out of others business. If I loose, I loose, If I win you loose.

    • John Denys says:

      Worst comment ever.

    • People are free to do what they choose with their money, however, much misinformation about the true nature of this investment has been spread throughout the web. We’ve read many stories of uninformed people who have put their entire savings into the dinar. By providing facts that can be verified and held to be true our goal is to educate investors on why a large scale investment in the dinar is not a wise financial decision. The idea is to help people make an informed decision and not fall prety to Internet swindlers.

  83. with respect to the author of this baseless essay, I think most of the information shared here are erroneous and have no base at all. First, investment in any currency is always risky! How would you profit from any currency investment if you dont take the risk??!
    Second the iraqi dinar rate in the saddam era was not constrained to saddam and his family as you claim; it was a rate set by the central bank of iraq at that time and even in jordan at that time the price was 3.8 usd per one iraqi dinar and we traded it according to that rate.. I would also say it is totally wrong to say all the news about iraqi dinar are groundless scam. There are some respectful sites around who are always careful when quoting news from Iraq and its dinar.. For example, the piece of news declaring that iraqi will start delete the three zeroes and offer new currency beginning 2015 which is an official piece of news. Read More at http://www.dinarwholesalor.com

    • Steve says:

      B-e-a-utiful dinarwholesalor. I am sick of people sticking their nose in other people’s business. Either invest or shut up. Most successes are surrounded by naysayers. I lived in Cape Coral Florida that started as a land scam. They would fly and bus people in to sell them lots. But it back fired on them and became a great success. You know why, they are not making land anymore. Can you imagine how valuable it would be if they were making land. Well, here we have a country making a new currency. Get on the train or get off at your stop to nowheresville. Thanks for listening. Have a prosperous day !

      • It sounds to me like you are in cahoots with the previous poster who is obviously trying to pitch his product on this forum. Of course we all have agendas, mine primarily being education.

        Taking your “invest or shut up” advice, I would suggest comparing an investment of Iraqi dinar over the past 3 years to the S&P 500. Or for those who prefer less risk, a CD offering a 2% annual interest rate. Both options would have yielded far higher returns than a similar investment in the dinar.

      • John Denys says:

        Steve, the purpose of Skeptoid is to expose wrongheaded thinking in various forms. We make it our business to talk about scams, pseodoscience, cults and etc. If you’re not interested in that type of discussion then take a hike bub!

  84. Bently says:

    Here’s the facts guys: When I was a child,I have NEVER seen my mom spend hours in the kitchen chopping, cutting, and mixing things together only to throw it away afterwards and tell me she just did it all in vein with no intent to have a finished product to eat. Well, NEITHER WILL IRAQ! That would be silly. Everything Iraq has been doing for the last 5+ years would NOT have been done if there WAS NO INTENT to revalue the purchasing power of their currency. If they were going to just replace the 25,000K note, for example,with a 25 note, then that’s what they would have done. Nope, instead they’re buying (have bought MUCH) gold to back their currency, made trade agreements with other countries, opened their companies (isx) to the world in which to invest (on the way to nasdaq), they’re “de-dollerizing.” and they went from 9 billion dinar notes (not to be confused with all assets to equal more total dinar, but just the notes themselves) to 6 billion notes, to 4 billion notes, and then sometime this past summer they said they are going to get down to 1 billion notes. The last time Iraq had 1 billion notes in circulation 1 dinar was equal to 3+ U.S. dollars. So it is very simple to see they ARE going to revalue their currency. Iraq has basically told us they have a fully functioning government, many laws to put in place, gotta teach banks and companies how to privately handle the coming and going of finances, have to deal with isis, and FINALLY implement their plan (which they’ve had ready for some time) to REVALUE their currency to have the puchasing power it once did. And now, instead of waiting 10, 15, 20 more years they just came out with an article that tells us basically 5 years. I don’t know about all of you but 5 years ago was 2009 and that seems like YESTERDAY to me. It’s coming.. quit debating and just look at the numbers. It IS going to revalue.

    • John Denys says:

      One, could you give me an example of a currency that has been revived? Even when a country’s economy revives I’ve never heard of a currency coming back from hyperinflation. It makes more economic sense to just start with a new currency. Two, the military situation is so bad in Iraq that the US has sent 3100 “advisors.” Three, the whole point of the original article was that scammers are always saying the revaluation is just around the corner.

      • Bently says:

        one, a revived currency? Never heard of that before. Then again no other country has (to simply state it) ever decided to “revive” their currency. Or at least 1) decided to, 2)come up with an actual working plan based on the successes of other currencies, 3)Implement that plan, 4)Succeed. I don’t know how far a step any other country has gotten if even step 1, but Iraq is on step 3. In fact, the dollar is still king and isn’t even backed by a commodity.. it’s a fiat. That shouldn’t be, yet it is. One of the blueprints Iraq is using is actually backing their currency with commodities for true value like the dollar used to. AND…I AGREE!!!! It DOES make more economic sense to just start with new currency. Iraq must not have gotten that memo though. One fact to know that their current currency will coexist with their new currency (when they finally have it) and both increase in value for some time, besides them saying so, is that the trade/currency agreements they’ve made with other countries IS NOT their “new” currency but the one thay have now. WHAT, are they gonna revalue and then tell all these other countries/agreements “sorry about your luck, you own worthless funny money now.”? Doesn’t seem what this new government is all about. But hey, the joke might be on us rest of the world. Two, I (nor did anybody else) never said any of the steps were going to be effortless. isis IS a giant snag! And it could be a very time consuming holdup or ruin Iraq’s plan entirely (I doubt this one though and so does Iraq. isis is a civil war that might be enduring but not indefinite) . Three, my lengthy comment was not a rebuttal against scammers saying it’s just around the corner, but to the commenters who insist that while my mother is in the kitchen cutting, chopping, measuring, pouring, stirring, mixing…. while she is “preparing” if you will, they INSIST that there WILL BE NO MEAL MADE. silly…silly…silly. Although Iraq is PHYSICALLY and VERY APPARENTLY completing steps to ONE DAY implement an increase in their currency’s purchasing power, dinar holders still let themselves get discouraged by unintellectual naysayers. Iraq NEVER said “when” only that “they will.” And then they showed they will by “doing.” That should be good enough for ANYONE to be able to sleep at night.

        • John Denys says:

          You sound like a dinar speculator. One shocking fact about the Iraqi dinar is that there are 40 trillion in circulation. In contrast there are 1.2 trillion US dollars in circulation. The sheer amount of dinars pretty much guarantees they can’t go up in value. Also, comparing the Iraq “government” efforts in the banking sphere to making a person making a meal doesn’t make any sense at all. It’s clearly a false analogy.

          I’ll make a prediction. Within two hours of my post there will be another very long post repeating the same arguments.

  85. Bently says:

    lol… 9:00PM Sorry, missed by a little over an hour. OK OK I’ll try to lighten it up. I’ll take “speculator.” If the definition fits, how can I argue? I WAS however the guy that made fun of everyone else who jumped into this “scam.” So I did my homework to prove them wrong (including articles like the forbes link you posted, read it.) only to learn myself that Iraq said they wanted to reach a goal and they are in fact (as slow and troublesome as it may be) reaching it. granted two steps foward and one step back, (it’s a jacked up country so the smallest step foward is AMAZING, but they’re taking foward steps none the less). I like when people tell me there are 40 trillion in circulaton. (That was my arguement too) Found out however that the 40 trillion is total assets (but still referred to as dinar), not actual printed notes. CBI said they went from 6 to 4 billion notes and, according to them, gonna begin their way one to 1. According to THEM. But they could be fibbing to us, I’ll give you that. If it’s all fibbing, good for them…. it’s a pretty good gag. False analogy? No… a poor one…perhaps. But the skeletal structure of the analogy is the same. Im sure a show of hands would tell me most got the point. I’m not a “gotta have the last word” guy… I PROMISE!!! Debating is fun, till it gets ugly, then I take my beliefs and walk away. Ok, I’ll stop here

    • John Denys says:

      I’ll do some more reading with your points in mind. In either case, whatever happens to the dinar I just hope the area stabilizes in some form or other. I’ve read quite a few books on the military situation and feel quite bad for the regular people of Iraq.

  86. Philip Sharples says:

    Thanks for pointing out the (il)logic of it all. A point about the folks selling Dinar. I would think they have basket fulls on hand (freshly printed) to meet the demands of future and current customers. They are making a 22% profit now while waiting, and if it happens (the Gurus would say “when”) they have basket fulls of notes so they will be worth billions. They got it covered both ways!

  87. Bently says:

    You’re right on Phil. They are definitely entrepreneurs to say the least. Probably all wealthy by now I’m sure. Like I said before, I was the one poke’n fun off all these retards wasting their hard earned (unless they’re already wealthy) money buying this worthless currency that I was ABSOLUTELY SURE could never… WOULD never “revalue.” I did the homework to back up my position on the whole thing so I wouldn’t look like an idiot and knew what I was talking about when I shut these “retards” down. My studying only showed me, to state it simply, that I was WRONG. Iraq stated what they wanted to do. Then they started doing it. And slowly but surely (a struggle that it is) they continue to step foward. That was a punch in my stomach for sure. All the evidence is pointing to political and economic victory so far (unless of course they crash inches from the finish line cause a meteor blows up that part of the world or something…who can predict that? It truely is a gamble all the way). Screw the guru’s. MOST of them ARE retarted and need to quit living in front of their computers and GUESSING “WHEN.” As for dealers, Im in the wrong biz. Should be one of them. But no, they don’t have piles of dinar waiting to sell (well, very small ones). They’re “dealers.” No different than a bank really. You order, then they order what you order from their foreign “peeps” through which they’ve made their “business arrangements”. The dealer pays what you would pay from…say…chase bank or somewhere, gets their money back (from you) plus the extra 20-30% “convenience” fee that’s making them a KILLING! Left no stone unturned and did the homework there too. If you’ve purchased dinar then you know after you pay the dealer, they have to wait, not usually more than a day, for the third party (the foreigh peeps) to send the dinar.. as I have from several different dealers (as their silly prices are always changing) hopefully due to competition. Ok..too long…I’ll stop there

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