Dinar?
 

I have a relative that invested THOUSANDS of moolah in the Iraq dinar; they think by the end of this week or something they'll be millionaires; I've been told by others that its more like a scam. Anybody know anything about it?

Investors were talking about that several years ago as being a potential goldmine. I looked into it, personally, but it was a risk I chose not to take. Now, had Iraq stabilized and the economy over there gotten on track, it probably would have turned out to be a great investment. But with the current hell going on over there, it's not likely to happen anytime soon, if ever.

Keep in mind even if the economy over there starts booming, they can always decide to change currency, which isn't unusual for a new government to do.

i've got quite a bit of dinar-both the old Saddam dinar and the new

I'm thinking of ordering pizza for dinar. :lol:

Whats the diff. with old or new? I think they bought it a year and a half ago. So Yoop- does that mean you'll be rich come wed? (thats what they think)

Everytime I say something to them about the civil war, etc. over there, they get all "Oh, thats just what the media says, they never tell you about the good stuff going on over there; we have investors over there, and they tell us the $ is gonna go soon." (go where, I dunno)

Nobody I was in Iraq with ever thought it was instant Weatlth
I thought you wanted an answer and you give me a smart A$$ comment?
Old has Saddam's mug on it

Keep reading your Papers in Liberal Minnesota about the Civil War.
Thought this topic was about the Dinar and not your stupid comments about War on Terrorism and Iraq?
Why don't you go to Iraq and find out for yourself what is actually going on.

(gulp) I wasn't being that way- just mentioning what my relatives were saying to me about it, and I was wondering what other's thought. Some say its a scam, some think its for real. :oops:

Relatives were talking about the Dinar or Iraq?
Look at the Dinar like people look at investing in the Stock Market. You expect your stock to go up but if it doesn't don't invest in that particular stock more than you can afford to lose.

Well, both. They tell me the Dinar will be worth more when Iraqs economy gets better- which, according to them is now (thats why they think they'll get their millions supposedly this week). But all I ever hear about is how bad it is over there, and they are trying to tell me it isn't. So yeah, my main question was does anybody know if thats true or not?(the Dinar payouts).Personally (not that it matters) I feel its more of a scam or something, but we'll see. Thats why I'm asking.

Canadian columnist Neil Reynolds noticed Spring's piece in Toronto's Globe and Mail:

OTTAWA -- More than U.S. troops are surging in Iraq. As the international edition of Newsweek magazine reported at year-end, the Iraqi economy is expanding at a rapid rate: "Civil war or not," writer Silvia Spring says, "Iraq has an economy and - mother of all surprises - it's doing remarkably well." Amid anarchy and savage violence, Iraq's construction industry is booming.

Retail and wholesale trade sectors are thriving. Real estate prices are soaring - up by several hundred per cent in the past couple of years. Iraqi oil production (at two million barrels a day) approaches Venezuelan production (2.4 million barrels a day) and could easily double in the next few years. On average, Iraqis earn 100 per cent more, in real terms, than they did under Saddam Hussein.

Public opinion surveys indicate that Iraqis are now, in economic expectations, at least, expansively optimistic.

Newsweek describes Iraq's economic revival as a product of "vibrancy at the grassroots." Three years ago, Iraq had 8,000 registered companies. Last year it had 34,000. Two years ago, Iraqis owned 1.4 million cellphones. Last year, they owned 7.1 million. (Iraqna, the country's leading mobile phone company, reported revenue of $333-million [U.S.] in 2005, $520-million in 2006.) Baghdad now has five times as many cars as it had before the war.

Global Insight, the economic research company, puts Iraq's GDP growth for 2005 at 17 per cent and for 2006 at 13 per cent. "The U.S. wanted to create the conditions in which small-scale enterprise could blossom," the magazine quotes Jan Randolph, head of sovereign risk at Global Insight's office in London. "In a sense, they've succeeded."

None of this lessens the horrors of the savage insurgency in the infamous Sunni Triangle. But none of it warrants suppression of Iraq's economic boom, either, yet it remains an "invisible" story, as Newsweek puts it, in most international coverage. Take unemployment as a single example. Are Iraqis underemployed? Inefficiently employed? Dangerously employed? Absolutely. But are 50 per cent of Iraqis unemployed - or indeed, as some reports have it, 70 per cent? Newsweek itself says that Iraq's unemployment rate "runs between 30 per cent and 50 per cent." Yet this kind of guesswork was disproved in mid-2005 when a comprehensive research study, using International Labour Organization definitions and standards, put Iraq's unemployment rate at 10.1 per cent.

In an assessment of Iraqi unemployment for the U.S. Congress, Rand Corporation researchers declared that bloated estimates of Iraqi unemployment were "seriously flawed," that the country possessed "an economically active, albeit poor, male citizenry." The report calculated the labour force participation rate for Iraqi men at 69 per cent. (By comparison, the rate for Canadian men is 73 per cent.) The participation rate for Iraqi women, however, was 13 per cent - a similar percentage, the report noted, "to the participation rate [for women] in all of the Arab countries of the Middle East and North Africa."

Contrary to the TV image of Iraqis men loitering around the wreckage of bombed cars, the Rand report described an enterprising people with an almost heroic work ethic. By far, it observed, most Iraqis were self-employed in private sector work, many holding more than one job. "The problem in Iraq isn't unemployment," the report said. "It's poverty."

lol... :lol:

:evil: $7,950,000.00 Dinars for a lousy pizza!!? yew kiddin' me? :evil:

....and wtf is that?...that don't look like pepperoni. :?


:shock: INCOMING!!!!
..sxxooooOoOozzzzzzzzzzsssssssssssssssszzzz...*BROOOOOOMMMMmmmmmmm rattle.


:evil: Oh...pfffft...what the hells yer problem? That's over a block away! chickenshit. ..it's safe here. :evil:

I understand now . I was under the impression that it wasn't legitimate. Thanx. :wink:

Yeah, I've not heard from the relatives yet, so I am assuming they have either left the country, or everything is still ho-hum. :lol: Will be interesting to see what happens, if anything. :wink:

All I know is that when I smuggled my Dinar out of Iraq it was kinda highly Illegal.

Thats the old stuff right?(w/Sadummys pic)

Its a collectible now right? :D

the Old Dinar was Supposed to be turned in for new. Taking currency out of Iraq is Illegal.

Just curiouse, how long were you there for/what did you do? My brother is leaving for Iraq in about a month- kinda scary.

a Year-Tanker driver hauling JP8 Fuel to every base in the Sunni Triangle.

Thank U for the info Useless; It's not my parents though, its actually some in-laws that are doing this. I'm not 'in' on it at all (too poor!) :D

You smuggled what? :shock: :P

Dinar.

From what I gather, it was Roasted Camel under Glass, paprika potatoes, and goat milk.

Hmm. Sounds tasty. :shock:

I did eat Camel Meat once in Iraq-It was very dry(and no that isn't a Joke) :P

I can imagine it was dry. Bet it would be tough,too. :P

the Iraqi's ground it up and there was a sauce you added to it but it was STILL Dry :P

:lol: :lol:

Hmmm, It sounds similar to the food Wendy's sells

I like Wendy's and their meat is juicy compared to Camel. Camel is rather tasteless too.

Yummy. Is it true that sometimes 'soup of the day' contains dog meat and boiled dog skulls?

DRY.... :? Soooooooooooo d-r-y. :?



So sooo dry...I'm fartin' popcorn.

Man,that is dry :P

Ask Admore Farms Forever about it. I think he was the one that said he was going to invest in FLOOSE. Personally, I think it's a scam. Or, you could be financing AL QUEDA. Could even be a way to try to BOLSTER the dinar. Maybe I'm just being too pesimistic, but I'd bet it's a scam.