Purchase of Iraqi Dinar - physical currency

[VYBerlinaV8]

Seeing some chatter around the place about the Iraqi Dinar, and about how it's supposed to have a lot of potential upside as Iraq gets itself sorted over the next few years.

Clearly a long shot from an investment perspective, and something I wouldn't drop more than a few hundred bucks into.

Anyone heard anything? Thoughts?

 

[Sunfish]

Is this the GOLD Dinar? Don't know if it exists yet though.

 

[tubs]

Heard nothing, although I wouldn't personally invest money in a country that can only be described as a basket-case.

 

[Sunfish]

Heard nothing, although I wouldn't personally invest money in a country that can only be described as a basket-case.

Yea. I wouldn't invest in America either.

 

[Ian (WA)]

Will you be doing breakfasts at this dinar?

Why buy one over there when there's plenty of food outlets up for sale in Australia?

 

[Sunfish]

Will you be doing breakfasts at this dinar?

Why buy one over there when there's plenty of food outlets up for sale in Australia?

Classic Aussie know nothing, care less.

 

[Bon]

I know nothing about it, but we have one of the strongest currencies in the world and I expect it to only get stronger over the next 10+ years!

 

[Sunfish]

I know nothing about it, but we have one of the strongest currencies in the world and I expect it to only get stronger over the next 10+ years!

Compared to what? All value is relevant and if we are $1.50 V the US$ does that mean anything if the USD is almost worthless?

I, and others, are already looking for (increasing?) value measured in gold rather than fiat currencies. Some time soon it will matter.

 

[Aaron_C]

Compared to what? All value is relevant and if we are $1.50 V the US$ does that mean anything if the USD is almost worthless?

I, and others, are already looking for (increasing?) value measured in gold rather than fiat currencies. Some time soon it will matter.

And aren't you making the same mistake since gold is measured in USD?

 

[Intrinsic_Value]

And aren't you making the same mistake since gold is measured in USD?

Gold is in an interesting situation now.
Two schools of thought:
(a) the die hard 'gold bugs' who are justifying the increase in the price of gold in terms of pure 'fiat currencies'.
(b) momentum players who see a sustained upwards trend and want to be a part of the action. So long as the major trend is upwards, these positions will hold, more importantly, positions will be added to so long as the major trend remains intact (which provides a constant source of demand).

Who knows where the gold price will end up, and at what point it becomes a 'bubble'.
(of course the die hard 'gold bugs' will tell you there is no bubble regardless of price, but of course for every asset that sees a major increase in price, there is always a story behind it, the more believable the story, the better the catalyst for price increases).

Remember investor 'temperament'

 

[Sunfish]

And aren't you making the same mistake since gold is measured in USD?

Not in my mind.

To me, gold has a constant value of 1. Everything else varies around it. If you think of your wealth in the domestic currency you are at risk of wipeout during currency crises. When things go wrong it is the middle or aspirational class that suffers most, because they are dependent on the banks.

 

[BayView]

Seeing some chatter around the place about the Iraqi Dinar, and about how it's supposed to have a lot of potential upside as Iraq gets itself sorted over the next few years.

Clearly a long shot from an investment perspective, and something I wouldn't drop more than a few hundred bucks into.

Anyone heard anything? Thoughts?

"wolf nipple chips; get 'em while they're hot - they're lovely"

"Rabbit's brains...only 'arf a Dinar"

 

[Ian (WA)]

Classic Aussie know nothing, care less.

Sorry my attempt at humour was such that it wasn't picked up by your extremely high intellect Sunfish.....should have known better.

 

[Sunfish]

Sorry my attempt at humour was such that it wasn't picked up by your extremely high intellect Sunfish.....should have known better.

Sorry Ian. I spotted the humour of course but I am frustrated by the general lack of interest in world affairs: A world that is perilously close to collapse.

But that's no excuse for my response.

 

[locko24]

Not in my mind.

To me, gold has a constant value of 1. Everything else varies around it. If you think of your wealth in the domestic currency you are at risk of wipeout during currency crises. When things go wrong it is the middle or aspirational class that suffers most, because they are dependent on the banks.

I think the world spins around me! (doesn't make it so unfortunately)
Gold is a commodity.

 

[Sunfish]

I think the world spins around me! (doesn't make it so unfortunately)
Gold is a commodity.

That's what makes the market.

 

[BuildingBlocks]

I almost bought some the other week actually, but the older notes with Saddam's face which I was going to frame and put on the wall.

I decided on 180 trillion dollars of Zimbabwe money and a set of North Korea notes instead.

Total investment of about $20AU

 

[NedKelly]

I thought I would resurrect this thread as I keep hearing stories about this Dinar revaluation. Sounds too good to be true so it probably is. Has anyone here purchased any locally?

 

[Lacasa]

I worked for a few years in Iraq back in 2004-07 and the talk at that time was about the future of the new Iraqi Dinar and the possibility of it being a great investment. At that time you could get one million Dinar for around $US700.

During the Saddam era the Iraqi Dinar was worth more that the US Dollar...3 Dollars to 1 Dinar from memory. The buzz around 2007 was about the potential of the new Dinar to go to parity with the US Dollar – once the country got its Oil production back up to its past levels and of course once the country eventually stabilized from the troubles.

I purchased a couple of million back then on the slim chance it might go up in the future and have basically forgotten about it...I just read recently that Iraq has reached a milestone in the production of Oil...now if they can stop the sectarian violence then who knows where the Iraqi Dinar could end up...I still have the occasional dream that the Dinar might go to parity with the Dollar, but I have the same dream about winning lotto…still dreaming dam it!

 

[Property Meister]

I worked for a few years in Iraq back in 2004-07 and the talk at that time was about the future of the new Iraqi Dinar and the possibility of it being a great investment. At that time you could get one million Dinar for around $US700.

During the Saddam era the Iraqi Dinar was worth more that the US Dollar...3 Dollars to 1 Dinar from memory. The buzz around 2007 was about the potential of the new Dinar to go to parity with the US Dollar – once the country got its Oil production back up to its past levels and of course once the country eventually stabilized from the troubles.

I purchased a couple of million back then on the slim chance it might go up in the future and have basically forgotten about it...I just read recently that Iraq has reached a milestone in the production of Oil...now if they can stop the sectarian violence then who knows where the Iraqi Dinar could end up...I still have the occasional dream that the Dinar might go to parity with the Dollar, but I have the same dream about winning lotto…still dreaming dam it!

so how much is the $700 worth of currency worth now???

I for kicks bought a few 100 trillion zimbabwe dollar notes to replace my monopoly money, but I doubt its even worth the paper its printed on