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Iraqi Dinar 25000

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Silverhawk74's Avatar
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3670 Posts
 Posted 12/24/2011  11:23 pm Show Profile   Bookmark this topic Add Silverhawk74 to your friends list Get a Link to this Message Number of Subscribers
So when I stopped by my dads at Christmas earlier, and we got to talking, he mentioned his neighbor buying a large amount of Iraqi money, and some more smart money he knows doing the same....

So I did some research and this auction on ebay is the first thing I read on this, and this seller here has some interesting info on why he thinks it is a smart buy....

Apparently the wise know Obama plans to get us out of debt, via the Iraqi currency rise, as they are supposedly selling new barrels of oil, and their currency which is just about bottomed out worthless, is about in-fact about to sky rocket in value....

http://www.ebay.com/itm/25000-25k-I...em2c61b779d5

By any chance is there any silver or gold based Iraq currency one could go after, other then these notes, if in fact any of this is true. I never claim to be the wisest, hence posting here to learn more on this, as no doubt someone here should have some info on this.....

Moved to World Banknotes forum - Sap
Edited by Silverhawk74
12/24/2011 11:26 pm
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specksynder's Avatar
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1080 Posts
 Posted 12/25/2011  12:18 am  Show Profile   Bookmark this reply Add specksynder to your friends list Get a Link to this Reply
this strategy has been floated before. I suspect it will be decades before the Iraqi economy shows the kind of rise they are talking about. I believe they will de-monetize this currency several times before that happens, requiring people to exchange these dinars for new currency at a bank inside Iraq.
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Silverhawk74's Avatar
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3670 Posts
 Posted 12/25/2011  12:36 am  Show Profile   Bookmark this reply Add Silverhawk74 to your friends list Get a Link to this Reply
"bank inside Iraq"

That will be their way of sticking the ol proverbial stick pin in the dreams of all these get rich quick guys stock piling this stuff and hoping to cash it in for millions one day, lol....

If just if it is not decades, or even a decade, or even less like more of a reasonable time frame for economic recovery, say five years, then they may change the equation....

A good college coach used to get five years to turn around a football team, nowadays that is three if their lucky and just two years more in some instances, as we are a "want it now society." If in fact the Iraq economy shoots through the roof in five years, then what would be Americas angle to get their hands on some of the profits? Well for one, they would need several truck loads of this deflated currency, and perhaps some business interest tied up in NEW investments in Iraq, I wonder if that is indeed the case.....

If that turned out to be the case, and again I am speculating here, but if it did, and that devaluation process had not had time to have been put in place, then perhaps it may be a good opportunity....

The first big question that comes to my mind is how much in American dollars, is 25000 dinar worth, or what would it be worth in better times, as I see they go for about 35 bucks or so?
Edited by Silverhawk74
12/25/2011 12:40 am
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302 Posts
 Posted 12/25/2011  01:57 am  Show Profile   Bookmark this reply Add mmerlinn to your friends list Get a Link to this Reply

Quote:
The first big question that comes to my mind is ...


... how much longer will the Iraqi Dinar even exist.

Iraq is now a ripe defenseless plum (now that both Saddam and America are gone) ripe for the picking. There is nothing preventing Iran from picking this overripe plum and annexing it to Iran. What happens to the Dinar when Iran takes over?

Iran is not dumb. They will grab Iraq. And it won't be in 5 years.

Needless to say, it is an extreme crap shoot to do anything based in Dinars. The odds of winning are minuscule.
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Silverhawk74's Avatar
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 Posted 12/25/2011  03:42 am  Show Profile   Bookmark this reply Add Silverhawk74 to your friends list Get a Link to this Reply
"The odds of winning are minuscule"

Yes, I would have to agree 100%, as my gut feeling goes....

Interesting thoughts as well on Iran, and if in fact that came to fruition I can't help but wonder if the USA would swing around 180 degrees and go back in again. Moving a army the size of the US military is a costly and timely venture, esp if you consider all branches of the military, via Army, Navy, Air force and Marines....

I know this is a coin forum/bullion thread, and often conversation lines stray to far into speculations of future possible military upheavals off subject, but very relevant IMO. As you mention ripe for the picking as the USA is in no position financially to continue policing the world....

The real factor that makes this all relevant to this thread IMO, is either solid stability via economy or lack of war in the middle east and else where effects the price of PM's, as does a complete an total quagmire war torn middle east or rest of the world....

In the end, if a SHTF does come up in the middle east or even over here from perhaps a natural disaster or something similar and it spreads to bigger things, I think like 99% of us would agree it is better to have a nice chunk of PM's, as well as stored food, medical an emergency supply's on hand as opposed to getting caught with your pants down totally un-prepared....
Edited by Silverhawk74
12/25/2011 03:46 am
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Sap's Avatar
Australia
16870 Posts
 Posted 12/25/2011  09:04 am  Show Profile   Bookmark this reply Add Sap to your friends list Get a Link to this Reply
Frankly, those spam e-mails we all used to get, that told us to go buy penny dreadful stocks, had more sound reasoning behind them than these guys that try to push Iraqi dinars.

Countries don't try to claw their old currency back up in value after massive inflation. It's never happened - the line about the Kuwaiti dinar being "revalued" is an outright lie - the Kuwaiti dinar has never been revalued. They did, however, immediately withdraw and demonetize the pre-invasion currency, to prevent the Iraqis using the money they'd stolen.

Rather, countries whose economies have recovered from collapse usually wipe the slate clean by replacing the currency with a new currency. If the Iraqi economy stabilizes at present level (and that's still a big if) then what the Iraqis would do is introduce a New Dinar (or whatever else they might want to call it), worth 1000 old dinars. The 25,000 dinar note would become a 25 New Dinar note, at exactly the same face value equivalent it holds now. There would probably only be a limited time to redeem the old notes - especially if counterfeiting continues to be a problem there.

Meanwhile, you can't exchange your 25,000 dinar note for US dollars, or anything else, anywhere except in Iraq. Nobody will take them, except perhaps at a steep discount.

So, buy an Iraqi 25,000 dinar note if you like it as a collectable note (and you're certainly paying a premium above face value for that ebay note). But don't buy it as a get-rich-quick scheme.
Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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Silverhawk74's Avatar
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3670 Posts
 Posted 12/25/2011  9:42 pm  Show Profile   Bookmark this reply Add Silverhawk74 to your friends list Get a Link to this Reply
Thanks Sap, I agree with your an Mmerlinn's assessment 100%....

That is why I asked questions like that here, as I know many of you are way wiser than I, especially on the subject of foreign currency, no doubt the area where I should have posted this to begin with, lol....

No way I would waste 35 bucks on that worthless currency, as I can get about 1 oz. of silver with that money. Money way better invested and spent IMO....
Edited by Silverhawk74
12/25/2011 9:43 pm
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