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Should we invest in the Iraqi Dinar?

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Would you invest in the Iraqi Dinar?

Poll ended at Mon, 02 Jan 2012 9:09 am

Yes
0
No votes
No
3
75%
Undecided
1
25%
 
Total votes: 4

periclesmage
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Should we invest in the Iraqi Dinar?

Postby periclesmage » Sat, 03 Dec 2011 9:09 am

Just had a remisier friend tip me off on buying some iraqi dinars as there is a strong potential for it to go up once the US Army leaves Iraq.

After a little searching i came across this article on CNBC about why we should avoid buying the Iraqi Dinar by Kelley Holland, published 14 Nov 2011:

Why You Should Avoid the Iraqi Dinar

Have you been hearing that the Iraqi dinar is a great investment? Be very careful.

Many, many readers have been asking about the Iraqi dinar's investment potential, and the idea behind it's theoretical appeal is simple: it's a bet on a recovering, oil-rich economy. But there's a hitch. A big one.

"You can't go to any major bank in the U.S.—frankly, many in the world—and trade this thing," says Rebecca Patterson, chief markets strategist for J.P. Morgan Asset Management, Institutional. "It's a collector's item. I can't say it will never appreciate, but doing something to make a quick buck off this today—nothing's going to happen soon," she told CNBC's Melissa Lee. Patterson points out that the dinar is a managed currency, and "the central bank keeps it steady at around 1,170 dinar per dollar."

Not only that, but there have been various scams involving the dinar of late.

Any thoughts?

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aster
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Postby aster » Sat, 03 Dec 2011 5:31 pm

Pass. :)

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JR8
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Postby JR8 » Sat, 03 Dec 2011 7:31 pm

The CNBC article wasn't off-putting enough? :o

Unfortunately this is typical of the kind of 'investment' where the less than cautious scent a quick buck, only to end up losing all their money.


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