2017
Lv 7
2017 asked in Business & FinanceInvesting · 7 years ago

is the Iraqi dinar revaluation thing a scam?

11 Answers

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  • 7 years ago
    Favorite Answer

    Yes. Any time a country restructures its currency, the old currency can be exchanged in that country for a limited time and after that, it becomes worthless. It's already close to worthless at that point. All revaluations are devaluations, it never works the other way. For example, when Mexico devalued the peso in 1993, you could exchange 1,000 of your old pesos for one Nuevo (new) peso. If you didn't do it by a certain time, your old pesos became worthless. Those old Iraqi dinars you see floating around, the ones with Saddam's dead puss on them, will never have any currency value. The collector value is limited. You can buy stacks of them on eBay. I hope to God people aren't buying them thinking they'll get rich when the dinar is 'revalued'.

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  • 5 years ago

    5 Reasons Why Some People Mistakenly Believe The Dinar Is A Scam:

    The Iraqi Dinar is one of the most potentially-profitable investments for you and your loved ones. Yet, it’s amazing how many people blindly disparage the Iraqi economy and currency. Many people are skeptical about the Dinar revaluation opportunity, or they’re negative about alternative investments in general.

    Digging deeper, it seems that naysayers’ skeptical attitude isn’t limited to the Dinar alone. People who doubt the possibility of making profits from an investment in the Iraqi Dinar tend to also have blurry vision when it comes to distinguishing between scams and good investment opportunities.

    Let’s take a look at the 5 reasons why some uninformed people can’t tell the difference between a scam and a good investment opportunity.

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  • felio
    Lv 4
    3 years ago

    Dinar Revaluation

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  • 7 years ago

    The only scam is if someone trys to sell you the old Saddam notes. BUY the new Iraqi Dinar as fast as you can. The 10 year Marshall Plan has ended. Both responses thus far are INCORRECT. It is correct that the "old" saddam notes became worthless when the new regime printed the new IQD notes in 2003. There was a limited time to exchange the old notes for the new ones. And, not all "revaluations are devaluations"; thats a completely incorrect statement, because Revaluations by its own definition is an upward movement of the currency value. The current value is 0.000855 to $1USD; however, most of history, the value was $2.44 / $3.22 to $1USD. The technicals alone signal a major BUY. In fact last year, the FOREX listed the IQD as a FRA 7.62. This tells the world corporations if they want to avoid inflation to park their money there. The fundamentals make Iraq the 3rd largest oil producer & 2nd largest natural gas producer in the world. The currency is Extremely Valuable... Do your due dilligence: Check out the Future of Iraq Project & a ton of other reports- http://www.theiqdteamconnection.com/future-of-iraq...

    "Iraq will grow faster than China over the next few years", says Hillary Clinton. In order for Iraq to officially be removed from CH 7 sanctions imposed by the UN, they must RV their currency.

    Be sure to get the new IQD & not be scammed into the old Saddam notes. Purchase through reputable sources. *This is not an investment, its a money exchange; thats what makes it even better. It is very hard for the value to go below 0.000855.

    • Jerry
      Lv 7
      6 years agoReport

      Total nonsense. There are multiple SCAM warnings from US states; Washington, Oklahoma, Utah, etc.

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  • Anonymous
    5 years ago

    RE:

    is the Iraqi dinar revaluation thing a scam?

    Source(s): iraqi dinar revaluation scam: https://trimurl.im/a40/is-the-iraqi-dinar-revaluat...
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  • 6 years ago

    Hey Frank, its six months later and:

    No RV

    Iraq's oil and natural gas production has yet to reach the levels you claim.

    Hillary Clinton also says "...what does it matter...?" The only thing she said that was truthful: "...nothing is set in stone..."

    The "technicals" associated with "previous history" rested on one: "The Dinar is worth what Saddam says its worth" The Dinar HAS NEVER been traded openly, thus its value has never been set via FOREX market.

    This is a money exchange: That's the facility one uses to to buy currency when one is travelling to a country. (When are YOU headed to Iraq?)

    Its very hard for the value to go below 0.000855. That difficult path to below 0.000855 occurs nearly daily

    CH 7 Sanctions (Do you even know what UN Chapter 7 is....?) Sanctions imposed under "Chapter 7" ain't about bankruptcy...

    Iraqi Kurdistan uses the US Dollar for all major transactions

    Iraq has to borrow money, until they stop needing to borrow money 0.000855 is the best they will ever have.

    Iraq may still become an Iranian province

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  • 6 years ago

    Scam? All revaluations are not devaluations. You have got to be a complete moron to think that. Try doing your research. During the war in Kuwait, the K Dinar devalued to almost nothing. I and several of my army buddies bought a lot of it. It eventually went to 3.21. Every one of us is now worth millions. Dont believe, dont buy. Simple. Sooner or later it will. We will make millions more while you still work at the Quikie Mart for 7.50 an hour.

    • Jerry
      Lv 7
      6 years agoReport

      This is complete nonsense. You can easily verify the price history of the Kuwaiti dinar on the site of the International Monetary Fund, part of the United Nations. It never collapsed and soared as this guy claims.

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  • Craig
    Lv 4
    3 years ago

    1

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  • 7 years ago

    Yes. It's been around for 15-20+ years. It was a major rip off then. It still is. The amateurs think they've found the simple, easy road to wealth.

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  • 6 years ago

    iraq is going to Redenominate there currency in other word for every 1 million you buy you will only get 1000 dollars back

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