Do any of you guys invest in Dinars? I have some friends from Rio that are investing , with hopes of a big payoff.I bought a half million Dinars.

I hope not the ones with Sadaam Hussein on them.

You're joking right ??
Why not just buy lotto tickets ? Probably a better return on your investment.

No..they are brand new ones. It only cost me $500.00. I know...it is like Lotto. But you gotta be in it to win it.

Well, you've already lost 11.5% as the official exchange rate is 1,158.5 x 1. The black market rate is probably higher than that.

Cat.... whats your opinion on the dinars? The word is that they will re value at 1 to 1 or more

Who told you that? The guy who sold them to you?

Currency speculation is not for the faint of heart, and without excellent data, a good way to lose your shirt.

Q: How do you make a small fortune speculating in Dinars?
A: Start with a large fortune.

Do you think the exchange rate is going to move from 1,158.5:1 to 1:1? Did you also buy beachfront real estate in Utah or something?

What will probably happen is, when or if Iraq stabalizes and/or we leave, a whole new dinar will be introduced. Maybe it will be 1x1, but it won't be the dinars you just bought.

Did you make sure that what you bought is legal tender? You may have bought some older dinars that have no value at all.

I hear there's a killer exchange rate on Zimbabwe dollars, do you want some of that action?

I think you should have taken that US$500 and hit the Sultan Suite for a 2-hour dupla. That would have been a better investment and let me guess, with your "Rio friends" investment, you can't pull your money out anytime soon, right?

(Message edited by catocony on June 22, 2009)

The dinars are brand new with a letter of authenticity. They bought a lot of dinars ( over 3 million) , so i just picked up a few, just in case it does hit. $500.00 is not gonna break me, but if it hits...i will have a condo in Rio. BTW, my Rio friends are actually American gringo's that moved to Rio, some are even CH lurkers.....JR

Johnny,

You just lost $500 that you'll never see again. There's no such thing as a letter of authenticity for currency, that's, well, one of the dumbest fucking things I've ever heard. You got scammed by some dirtbags who are trying to whore on other peoples' dimes, I would trust most Americans living in Rio about a quarter-notch above GdPs and every other carioca I meet - which is zero trust.

Again, explain to me how you expect a currency from an occupied country with no real working government to appreciate 99.91% against the dollar.

You got hosed bigtime on that one.

I don't know if that's "one of the dumbest fucking things I've ever heard." or not, but I haven't laughed so hard in weeks. A "letter of authenticity" for currency? You have to be kidding? I'm crying now, it's so funny! That "letter of authenticity" might be worth more then the dinars!

I bet you go to cancer clinics for a good time and laughs too

Let me guess - you called/emailed your friends and they aren't responding to you?

No ..we speak all the time. I have known them for many years. They are very positive about it. I did not buy the dinars from them, but from www.dinartrade.com . I called and placed my order , and they were shipped UPS and i had to have a money order ready. It could be all bullshit, but then it could hit. Iraq does have a lil thing called oil. Everyone thought i was stupid to buy Citibank at $1.04 a few months ago too .

Dude, when people buy currency, they don't literally buy a box of bills, you buy a contract.

Again, you expect the currency to go from over 1,100 to one to one to one? Yeah, they may have oil, what they don't have is anything close to a stable government.

Dude you got screwed. The address that is given for dinar trade is a UPS store. Do a google map search and look at the street view, it's in a strip mall next to a Payless shoe store.

4450 California Ave Suite 312
Bakersfield CA 93309

They say that doing stupid things is painful, in your case it's about $500 worth of stupid.

RG.

I hope you make some money, buy the CH board, and silence all these naysayers...

Thanks Jonsie, at least someone on this board has some class. If and when they do re value the dinar, you will definitely be invited to the celebration.

Dude, if they revalue the dinar, the ones you're in possession of will lose all value as tender.

You did notice that, in addition to being headquartered at a UPS Store - I guess Mailboxes Etc couldn't handle the volume - that FOREX only sells dinars but does not buy them. So, if the currency does strengthen 99.91% against the dollar, you'll have to fly to Baghdad to trade them in.

I've gotten a few email offers from some rich folks over in Nigeria that need some help moving some money. I'll forward them to you and maybe you can get in on the ground floor of one of their investments.

Cat...i respectfully disagree. BTW....stick your Nigerian comment up your ass.

Listen...I took a shot....if it hits, great. If it doesn't, I have some cool looking worthless money to wallpaper my basement bathroom with. Damn, don't any of you guys gamble?

Iraqi soldiers and security officers are making about 350K Dinar per month. Perhaps a great gamble would be to work one of those jobs for two years? Shoot when the appraciation of the Dinar to 1 to 1 with the US$ Man those Iraqi's are gonna frickin own us.... Who needs chinese Yuan to finance the US debt?

Seriously, just google Dinar and Scam.... unless you are in China of course, where you have to use Baidu

when you make a spec play like you did...hell the last thing you should do is ask cat for his opinion...let it play...its why you only bought $500..

Johnny, we're just busting your chops. Plenty of people fall for these things because it sounds so easy. Pyramid schemes, pig in a poke schemes like this one, they've been around since the dawn of man. You're not the first, nor the last.

That said, the next time there's a dinner Hombre outing in Jersey, I'm going to insist you bring your bushel of dinars with you.

Layne, he did ask my opinion on the matter, so I've given it. He's also encouraged me in the past to post some help for various "special needs" posters as well, so just helping out there.

This will all be forgotten in a few months when CFK returns to Rio. I figure with he and Latinalover and another guy bunking together for a week or two, there will be all manner of things far worse then buying dinars perpetrated.

(Message edited by catocony on June 25, 2009)