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Iraqi Dinar
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Created: by Silvester17 Attachments:1

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Iraqi Dinar

  #1 (permalink)
Market Wizard
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Iraqi Dinar

I know there are many rumors about the iraqi dinar. and I agree most of them smell like scams, big red flags.

just wondering if someone here actually invested in the dinar anyway. sometimes I like to gamble, to buy a lottery ticket in form of options, penny stocks or currencies like the dinar. of course most of the time I lose, but one winner makes up for many, many losers.

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Last edited by Silvester17; April 12th, 2011 at 12:28 AM.
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  #2 (permalink)
Market Wizard
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It could appreciate...nobody knows, but the question is always liquidity.
I dont believe it would have a reasonable bid/ask for one to make reasonable appreciation for small amounts.
Probably one would get a bank rate where they have 600 pip difference on bid/ask from the cash market.
With the Dinar one would most likely get the "Airport Rate" or as one would call it "Airport Rip"

Stay away. My 2 Cents.

M

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  #3 (permalink)
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Silvester17 View Post
I know there are many rumors about the iraqi dinar. and I agree most of them smell like scams, big red flags.

just wondering if someone here actually invested in the dinar anyway. sometimes I like to gamble, to buy a lottery ticket in form of options, penny stocks or currencies like the dinar. of course most of the time I lose, but one winner makes up for many, many losers.

The bid/ask spread on your chart is close to half the monthly range!

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  #4 (permalink)
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Fat Tails View Post
The bid/ask spread on your chart is close to half the monthly range!

as you can see, quality has it's price...

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Silvester17 View Post
as you can see, quality has it's price...

Assuming that there is no trader willing to enter into a trade for the Iraqi Dinar, I conclude that the quote is a two-sided quote of a market maker, who is compelled to make a quote. Probably he only agreed, because he was offered a compensation.

Quality has its price. But does that mean that everything that comes at a high price has a high quality.

Do you also believe that CDO stands for cwality debt obligation?

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  #6 (permalink)
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Fat Tails View Post
Assuming that there is no trader willing to enter into a trade for the Iraqi Dinar, I conclude that the quote is a two-sided quote of a market maker, who is compelled to make a quote. Probably he only agreed, because he was offered a compensation.

Quality has its price. But does that mean that everything that comes at a high price has a high quality.

Do you also believe that CDO stands for cwality debt obligation?

just to be clear. that was a joke about the quality. and certainly not everything that comes with a high price tag has a high quality.

as I mentioned in my first post, lots of red flags. this is not about an investment. this is pure speculation, a lottery ticket (about the same like trading crude) sorry couldn't resist.

to my best knowledge, CDO stands for something else, but you got 2 out of 3 right.

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Just for your information, the Iranian Rial pre-revolution was about 75 Rials to one $. Even with the current situation in Iran, now it is about 10,000 Rials to 1$. Their government now wants to drop 4 zeros and make it 1 Rial to to 1 $. That will not last very long either because of heavy $ subsidies by their central bank. However, for whatever reason their stock market is nearly up by about 60% in the last three months. Apparently, because of no influx of foreign capital (401Ks, mutual funds, etc), region people buying gold, materials getting expensive ( most of the companies are cement, chemical, steel, construction, and such) and so on, these companies are so dirt cheap. Here is where you can double your money in a year if you can trade that market. BTW, don't listen to the news media and the current propaganda, we want that country to remain as is so that we can justify our presence in that oil rich region. Besides, they are Persians not Arabs, and are survivors for 1000s of years.

As for Iraqi Dinar, the situation is really not good. I would not be surprised if Dinar like other Persian Gulf kingdoms' currencies will eventually be pegged to $ once the U.S. establishes foothold in that economy and banking system. I don't see US out of there for many decades to come. Similar to the UAE, Oman, Bahrain, Saudi Arabia, and Kuwait currencies the Iraqi Dinar will fluctuate with $, unless Euro replaces $ in international commerce, which I don't see happening very soon.

So, my friend, my first place to speculate just for fun with the money I don't need will be in Canadian junior partnerships (they pay hefty divident also) and oil penny stocks. The rewards are more likely than those from a Dinar that is worth only 1/10,000 of pre-US invasion of that contry.

Money does not grow on the trees, it come out of the ground!

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aligator View Post
Money does not grow on the trees, it come out of the ground!

Money is created by the FED and fractional reserve banking. Today you don't even need paper to create it, and it is sufficient to hold 4% of its face value as gold reserves. Current money supply is an estimated $ 9,000 billion (see chart) and gold reserves of 8,134 tons (261514170 troy ounces) should amount to $ 365 billion, if I have made no calculation errors.

Who wants to reintroduce the Gold Standard? First you need a interplanetary expedition to find the gold needed for that purpose.

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Money by itself has no value. It is not just gold, imagine almost all commodities either come out of the "ground" or depend on what comes out of the ground, including wheat, soybean, apples, oil, gold, metals, non-metals, beef, wood, or whatever have you. Availability, demand for, and consumption of these commodities create value for them that is exchangeable by monetary instruments, thus the need for existence of FED to create a "Value Vault".

Canada, Australia, South Africa, etc. without their natural resources (coming out of the ground) could not print as much money. Others like Greece, Portugal, etc. without much exploited natural resources go broke as we witness. Money is a promissory note of value for exchange of commodities in the future. The more promises (commodities) you can deliver, the more money you can print.

There have been times that one could not buy a loaf of bread for a kilogram of gold. I stand correct, real money (value) comes out of the ground and FED just prints lots of promissory notes, called money.

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aligator View Post
Others like Greece, Portugal, etc. without much exploited natural resources go broke as we witness.

Not related to natural resources, but government spending.

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