This is an article that I had to write just to set the record straight on what I’ve seen going on with dinar, AND the good folks who own them.
I’ve been saying for many years-
“Only invest what you can afford to loose”.
If you have invested MORE than you can afford to loose then YOU NEED TO SELL all or a portion of your dinar till you feel like you yourself have made a responsible financial decision. By the way, none of this information is a substitute for a financial adviser.
How To Know If You Have Bought Too Much Dinar:
-If you have threatened me or are thinking about threatening me for any future losses up to and including the loss of your entire dinar investment, then you need to follow the instructions at the bottom of this article to quickly and easily sell your dinar right now immediately no matter where you live.
-If you really need money now for bills or other areas of investing like your retirement then you may need to sell your dinar.
-If you are not prepared right now to TAKE FULL RESPONSIBILITY for loosing your entire investment then you definitely need to sell your dinar right now following the instructions at the bottom of this article.
-Speak to a financial adviser
If You Are Aware Of The Risk And Accept The Risk Fully:
-Then try to enjoy the process of waiting for things to happy (good or bad)
-Try to associate with other dinar investors so you can get many different points of view of others who share your interests
-Speak to a financial adviser
IF, and only if, you were to sell your dinar before any possible future gains then now would be a GREAT time to sell and I will explain how at the bottom of this article. Since the execution of Osama Bin Laden I have noticed a nominal spike in Dinar sales. I’m guessing that this is due to inverters linking Bin Ladens death to increased security in Iraqi dinars future. Less chance of terrorism in Iraq, more chance for dinar to flourish, it’s only a theory!
It is also possible that Dinar investors say Bin Laden’s death as a reason to ‘celebrate’ and buy more dinar. For some reason the success of Iraq is sometimes linked to the success in the war against terror.
Because of the spike in dinar sales in the last month now would be the perfect time to sell off any or all of your dinar for the above stated reasons in this article. Much of the dinar that dealers sell comes from dinar investors who want to sell off. In the past dinar dealers purchased dinar only from middle eastern sources but now much of dealer inventory is from dinar inverters who want to sell.
If you are worried about Iraq now allowing you to bring your dinar into Iraq to cash in you need to understand that every country has laws about who can bring currency into the country and how much. Keep in mind also that there are other countries such as Jordan and Kuwait which have banks that deal in dinar too. If you are still worried about cashing in your dinar in the future maybe you should just sell. Dinar is not for everyone!
The zero lopping story has been around as long as the new Iraq dinar has been around. If Iraq decides to redenominate their banknotes then it is possible that the look of the banknotes will change. That is what a redenomination is, it does not mean it is a devaluation. Hypothetically, if Iraq decided to remove zeros there would be a period of time to exchange old notes for the new. This happened with the old Saddam banknotes when the new notes came out.
A devaluation is when zeros and chopped along with the exchange rate. If a 25,000 note worth $25 becomes a 25 note worth $25 then no devaluation has occurred, only a renomination. Contrary to this, if a 25,000 note worth $25 becomes a 25 note worth 2.5 cents then a devaluation has occurred like with Germany after world war II.
Revaluation of the Iraqi Dinar gives the dinar a chance to increase in value with a multiplied value greater than 1. If a 25 dinar note worth $25 US dollars revalues with a multiplier of 2, then your 25 dinar note will be worth $50. When Kuwait revalued their currency the Kuwait dinar almost doubled in value overnight AFTER it’s revalued rate entered the market. As for me, I am optimistic, yet cautious about putting too many eggs in one basket.
Five years ago the risk in the dinar was all related to the insurgency and being worried about the Iraqi Government being over thrown. Today, the main risk in the dinar is related to CORRUPTION with a capitol C. You need to understand that there are elected officials in Iraq and others who would much rather line their own pockets then to allow the country to excel financially.
Hypothetically, even if there is a clear concise plan to allow the Central Bank of Iraq to buy back an abundance of dinar upon a revaluation, and then having the dinar double in CBI possession AFTER the revaluation due to post revaluation dinar sales spike; There are bad people that would rather see the country of Iraq get an ‘average’ revaluation while becoming billionaires and millionaires them-self because of corruption in the Iraqi Government.
If you are in a position where you can afford to loose 1 million US dollars on Dinar, and I know there are people who can, then go for it. But, if you know that you need to sell some or all of your dinar here is how:
Contact Ali from DinarTrade.com and negotiate a sell rate and payment method, probably bank wire. If you want to insure your Iraqi Dinar being sent to Ali then use an International service link BRINKS, they will insure your banknotes. Be sure to read between the lines and take full responsibility for sending your money. Sending Dinar by BRINKS to Ali from within the USA is relatively cheap just for your information, around $200. If you send your dinar with any service like FedEx uninsured make sure you write on the outside of the packing slip under description- printed material. Sending money in the mail uninsured is risky and you must assume full responsibility for such procedures.
If you feel good after reading this article and have no plans to sell your dinar AND you assume full responsibility for your investments then I wish you the absolutely best with your future potential returns. I honestly don’t know from one day to the next what will eventually happen, we can only hope. I will continue to serve our community by trying to provide the best mastermind environment for Iraqi dinar investors.
Written by Darren Chabluk for http://DrDinar.com
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