Buying something worthless in the hopes that it will increase in value is the oldest scam in the world. Placing your faith in something worthless with the remote hope that it will someday have value is the quickest route to bankruptcy.
"The Iraqi dinar “investment” opportunity — a scam that has been around for a few years — has recently been regaining much of its former popularity.
The opportunity is pitched as a way to profit from a nearly worthless Iraqi dinar that is “sure” to appreciate in the future. The scammers promise that millions of dollars in profits are virtually guaranteed if you buy the dinars at today’s values (about 1,000 dinar to $1) and then exchange the dinars back for dollars at a later date once the dinar exchange rate has improved." (Source)
Usually, outfits that sell dinars register with the U.S. Treasury as a money service business (MSB) to give themselves credibility. This allows them to offer their wares as a currency exchange instead of an investment. (Ibid)
"The potential value of an investment in dinars is often illustrated with references to what happened to the Kuwaiti dinar following the first Gulf War and the German deutschmark following World War 2. These would be good examples, except that neither was a free-floating currency at the time, so their value was mostly a function of policy making and official currency management.
It is also a fact that no rational investor would base an investing decision on two instances of past data (one more than 60 years in the past) without considering all the times this investing strategy did not pay off.
Will the Iraqi government pursue a policy of currency appreciation in the future? Since an appreciating currency makes funding your brand new government and paying off past debts more expensive, it seems unlikely. An economy in Iraq’s situation is more likely to experience a currency crash or intentional devaluation.
Many dinar dealers refer to the value of the Iraqi dinar prior to the 1990 Kuwaiti invasion (1 dinar = $3+ US Dollars) as evidence that the potential for the dinar is theoretically unlimited. They don’t mention that the pre-1990 dinar has been demonetized (worthless) and that its value was arbitrarily set by an autocratic regime led by Saddam Hussein. Following the embargo, the ability for the Iraqi government to manage its currency’s value collapsed and it spent the next 10 years at 2,000 – 3, 500 dinars to the U.S. Dollar." (Ibid)
Currency speculation is risky at best and not a sound foundation for getting ahead in life. I put it right up there with Las Vegas or trading penny stocks as an investment strategy.
As I have stated in previous articles, the world is moving towards hyperinflation and the elimination of all paper currencies. The PTB don't like cash because it is too difficult to monitor personal transactions and creates the opportunity for political dissidents to function outside of the grid.
After they collapse the global economy (including the dinar), they will be replacing it with a bio-metric data chip that is unique to the individual. They will take government dependence to a whole new level. The debit card and credit card will also become extinct due to the possibility of their being counterfeited or stolen.
For those of us that are not planning on participating in their Satanic Psychopathic one-world police state, gold, silver, food, guns and ammunition will be the "coin of the realm". Real commodities for real people, that always appreciate in value during times of turmoil and uncertainty.
Not Iraqi Dinars
