Has anyone heard about Iraqi dinar speculation

xertpo

Hi,

I'm just back from a trip to the US where I had an interesting conversation with a guy who has been buying Iraqi dinar in the hope that it will be revalued in relation to the US dollar. Some background - http://en.wikipedia.org/wiki/Iraqi_dinar

Interestingly, you are able to buy the dinars in most foreign exchanges in the US, contrary to what the wikipedia article states.

I've googled the topic and most results state that it's pure speculation. Has anybody else heard about the possibility of Iraqi dinar speculation.

xertpo

Could anyone suggest another discussion group for this question?

cooperguy

Im pretty certain that cant happen. You dont just suddenly revalue a currency to be 1000 times more valuable. Unless maybe im misinterpreting what you are saying?

xertpo

I think it can in happen, and from what I gather, it has in the past. However, gains of 1000%, or indeed it happening suddenly are unlikely. The speculation regarding the Iraqi Dinar appears to have been taking place for the last few years, so that would rule out the label of revaluation taking place suddenly. Having said that, I only heard about it in the last two weeks.

Have a look at this recent article: (last 2 paragraphs in particular)

http://londonfunds.com/2011/01/30/iraqi-dinar-revaluation-is-imminent-backed-by-a-powerful-iraqi-economy/

hmmm

The Chinese have been revaluing their currency for a number of years.

Either way investing in Iraqi whatsits is off the scale in terms of risk, mad stuff altogether.

Wudyaquit

+1 in terms of the risk factor.
Making an investment decision that doesn't seem to have a huge amount of analytical backing beyond what some bloke has said is a good way to lose your shirt.

xertpo

Wudyaquit wrote: »

+1 in terms of the risk factor.
Making an investment decision that doesn't seem to have a huge amount of analytical backing beyond what some bloke has said is a good way to lose your shirt.

Thanks for that gem of wisdom.

Wudyaquit

xertpo wrote: »

Thanks for that gem of wisdom.

I was being diplomatic - you've asked if anyone's heard of Dinar Speculation. It's fair to say there's some degree of speculation on all currencies, even restricted ones like RMB, so it's a moot point.
What kind of responses were you expecting - "yeah go for it. An article by someone no-one's ever heard of and wikipedia both say there could be appreciation at some unspecified point in the future. Knock yourself out."

xertpo

Wudyaquit wrote: »

I was being diplomatic - you've asked if anyone's heard of Dinar Speculation. It's fair to say there's some degree of speculation on all currencies, even restricted ones like RMB, so it's a moot point.
What kind of responses were you expecting - "yeah go for it. An article by someone no-one's ever heard of and wikipedia both say there could be appreciation at some unspecified point in the future. Knock yourself out."

I was simply expecting responses that may have facilitated a further discussion. With all due respect, yours did not.

hmmm

xertpo wrote: »

I was simply expecting responses that may have facilitated a further discussion. With all due respect, yours did not.

He was being too kind by humouring you. How about this for facilitating further discussion - why is this board full of eejits advocating crazy get rich quick schemes when you could have got a 20% return over the past 6 months by simply buying a S&P500 index? How much knowledge do you think the participants in an Irish bulletin board of the future movements of the Iraqi dinar? I think it's a great idea, I hope it works out for you.

coylemj

That fellow you met in the US probably wrote the article in Wikipedia that you say is 'background' to the topic of the Iraqi Dinar, sounds like a recipe for disaster.

The rule if you didn't know is that by the time 'tips' like this filter down to ordinary Joes like us, it's been exploited for all it's worth by the people in the know. People who get their financial advice from public forums have no business investing directly in speculative currency movements.