Iraqi Dinar

There is a lot of speculation over Iraq's currency and if it will rise or not.

They could always adopt a new one.

What do you think will happen?

Here is a good article explaining http://www.bestwaytoinvest.com/display/6981

 

I think that article is right on spot. I'd strongly recommend avoid investing in the Dinar.

 

My boss invested around $4,000 in Iraqi Dinar and he says if it appreciates or "hits" like some people speculate it will, he will be a multi-millionare.

This is the site that he consistently looks at:
http://www.dinarguru.com/dinar-guru-predicts.html

Looks like a load of crap to me.

 

Isn't the dinar a closed currency controlled by the government? Or is the Iraqi Dinar different in that sense from Libyan and Tunisian

 

The Dinar is a free trade currency.
You can buy it just as easily as buying a Euro.

 

I know a guy set to make up to 50 million if it revalues....

 

Don't think that's particularly likely right now. Massive inflation or deflation would kill all demand for the currency and if you don't cash out in the small window where there are still buyers but not too many sellers you will mabye come out with 2-300% revenue, but not 50mil and the risk factor here is massive.

 

I don't know if I'm missing something (maybe I'm just really tired right now) but how can you possibly make money dealing with currency trading? When one currency grows weaker and weaker, wouldn't the country the currency is from adjust due to that currency's change?

 

It's just like (These are not real prices):

You buy 500 dinar at 1 cent US ea.

Dinar sees a crazy 500% increase so that it is worth 5 cents US.

You sell for a 500% return on investment which means you make 20 bucks profit.


It is just like investing in anything else. Currencies are independent from each other, which means currency A can be worth so much of currency C.
Correct me if I am wrong.

 

^^This. I made a good 20% revenue trading the ILS and USD over the past couple of years, (though I kinda had to, because we were moving alot recently) OFC, I'm not that rich, so I barely made anything.

 

Thank you very much Nero. How much do you suppose is good starting capital to invest? Also, is this what forex trading is? Any good websites?

 

OTish , But to start forex trading i suggest you download a demo forex bot ^ And making money really requires 6 - 24 months forex training

 

OP is banned, I suggest closing this thread.

 

I think the Iraqi Dinar is going to go up a shit load if you ask me.