I’m sure you’re all pretty familiar with the situation in Iraq. Well, with the emergence of the New Iraqi Dollar a whole slew of “Iraqi Dinar investment” sites have popped up. They all promise massive profits if you buy this new and highly speculative Iraqi currency. I too was tempted a while back to buy a few New Iraqi Dinars, but after the initial greed wore off and rationality came back to me I decided that it was too risky for me to go ahead with the purchase. I’m glad I made that decision as most likely I would’ve ended up with nothing more than worthless paper.
Personally I think what these sites are offering is a scam. When you stop to think about it, why should one expect the Iraqi central bank to want a strong Iraqi Dinar? It’s not to their advantage to do so. It is always in the best interest of a developing country to have a weak currency. I don’t think any of the sites offering Iraqi Dinars for sale mention this and other associated risks. Then again why would they care to mention it if it might prevent you from getting suckered into a bad investment? My point is that you should really do your homework on this issue before you make a decision. To help you out I’ll share with you two videos a friend of mine sent me.
The videos are produced by a currency expert called John Jagerson (about which my friend says that the guy “REALLY knows his stuff when it comes to currency trading”.) In these two videos John gives a presentation on why you might want to avoid this type of investment. He also explains why the guys selling you the dinar are maybe not telling you everything you should know about the deal before exchanging cash with you.
Without further ado here are the two video links:
Kudos to John for taking the time to inform the public on the dangers of this speculative currency investment.
That about does it for this post. Thanks for your attention and I wish you all safe and profitable investing!