Calling the Iraqi Dinar a scam is like Iran loyalists calling the USA currency a scam. You must filter your scepticism through a brain cell if you are going to refer to a countries currency as a scam in and of itself.
Yes it is true that violence prone Iraq, now independent from US coalition forces; Iraq has their work cut out for them no doubt. This reality does not for a second mean that authentic Iraqi banknotes are a scam.
Properly gauging the situation would refer to Iraq investing as a high risk investment with the potential for high return on investment. Merely calling the currency a scam sounds like the type of financial advice one would get out of a broke person.
However, there are several real scams that are associated with the sale of Iraq dinar currency or Iraq based investments.
Counterfeit currency is a real potential dinar scam, always be careful to make sure your dinars are certified authentic and that any other type of Dinar investing such as dinar accounts, bonds, stock, or any Iraq based investment is legal and not criminal in any way.
Be weary of web sites and articles that spout ‘Get Rich Quick With Dinar’ and neglect to inform you of the risk potential involved. There is an excellent chance that such web sites or articles are geared towards some form of short term profit to either sell you dinar no matter what.
Some Dinar cheerleaders just want you to join by artificially jacking your expectations beyond what the Dinar could ever deliver on just so such site could profit from advertising revenues in the highly profitable Dinar Google ads which pay $1 to $2 per click.
Having a diversified list of sources for your Iraq money information is just as important as having a diversified approach to your over all investment portfolio. Don’t put all your eggs in one basket. Take your research to a trusted certified financial advisor, and only invest what you can afford to loose.
Yes the Iraq Dinar has been endorced through the years by the likes of Jim Cramer from Mad Money and Mr Donald Trump but it does not mean that you should sell your mothers house with your mother in it to get more of it, that would be like selling the farm.
All this being said, enjoy the opportunity and find ways to enjoy the wait. Plenty of dinar investors enjoy starting rumours which drive other investors crazy. The last 9 years has aloud a well refined group of Dinar information web sites to come out the wood work.
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Interesting,
The word scam has become the top word used by anyone looking for more traffic to their site and to promote their deals, and when it comes to the Iraqi dinar, the same strategy applies, it is all about traffic, not the truth.
Granted, the Iraqi dinar itself is not a scam, and for those who invested over eight years ago, no one is complaining about the typical story of losing money, they just have not seen the expected return on investment as of yet. Will we see a higher return in the future, that is the big question.
What we see are dozens of so called know it all guru’s who have stated a hundred times, it is done, now that is the only scam involving the dinar, the constant and ongoing lies which play on peoples emotions. In this severe recession where foreclosures in the millions, bankruptcies, everyone wants to hold ono the dream that someday the financial stress will end, but to hear it every day is the real scam.
These people should be ashamed of themselves, but then again, it all comes back to traffic to their respective dinar websites which are loaded with advertising which means they have a vested interest in creating traffic to feed themselves, never mind the ones which promote the sale of dinars. Simply put, after eight plus years in this investment, I have heard and read it all, so lesson learned, don’t believe any of them, they are delusional with posts of $7.00 plus revaluation, it won’t happen, sorry.
The best we will see eventually is a $1.00 range, and that is stretching it as I see it, but to think that it would be $3.00 to $7.00 range is insane, if not an outright scam to predict these crazy numbers. Willl the Iraqi dinar be restored to former rates someday, yes, I believe it will, but no one knows when this will actually happen, so my best advice is to sit back and wait, and stop thinking it will happen any faster by reading all these sites pumping the dinar, take a break before you stress yourself any further.
Good luck,
DrDinar is hosted on a new dedicated server I upgraded to last summer, that’s about $150 a month to keep the site up, and extremely fast loading too.
You should expect to get what you pay for in the dinar information industry too. Advertising revenue motivates me to hire the best full time research writer, and the best marketing team to spread the message and once again dominate the dinar information industry.
The site has to be dam good for that. Everything.
Hello Mike
Solid posting with sound advice. I always felt a diversified investment in the Dinar is a sound investment if strategically sought after within reason, i.e.
My first priorities is to pay off all my bills which I have done.
My second priority is to pay down my mortgage as much as possible.
If I have a few dollars left over through the course of the year I diversify my investment and place a small percentage of my net worth into the Dinar. Much the same way investing in the stock market should have been done by many who have lots their life’s savings.
I have learned the hard way at times, but I am also confident in the Dinar. That being said I too get annoyed from the self proclaimed Gurus, from either side; great gains or losses.
The nation’s currency is real and if the Gurus who claim such high revaluation is true then all the more reason why no one should have to risk a large portion of their net worth betting on the Dinar due to it’s volume and the currency’s leverage.
The nation’s currency is real and the Gurus who claim that the Dinar is a scam then the whole nations banking system is rigged; to include their banks and the ISX. With all of that oil sitting that in it self is a ridiculous conclusion.
i look forward to reading everything that you put out . I like your down to earth method, keep it rolling. I like allot of other people , I am in it for the long haul.