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Iraqi Dinar as investment?

ire

Turbo Monkey
Aug 6, 2007
6,199
4
I have a friend who was talking about buying 1 million Dinar and sitting on it. At one point (prior to the 1st gulf war) their currency was about $3 per 1 dinar. Has anyone else heard of buying Iraqi currency as a risky investment? The thinking goes that at some point their country will get back up and running and the currency will go up in value (may take 20 years).
http://www.edinarfinancial.net/
 

ire

Turbo Monkey
Aug 6, 2007
6,199
4
In addition to that, I'd be very careful about investing US$ in anything foreign at the moment.

Heck, Dow Jones has already lost all it's gains from 2007, yeah? Now might be the time to buy domestic.
Yeah, you can get a bargain on stocks right now.
 

stoney

Part of the unwashed, middle-American horde
Jul 26, 2006
14,134
1,388
Colorado
US stocks are at a bargain, but go read up on Harry Dent. He is one of few economists who called the tech bubble AND burst in the early 90's based on demographic trends. He is expecting a depression-like pull back in the next two years. I have seen similar commentary from many sectors alike. Many feel that the recession we are falling into is just the beginning of the slide. My money is and has been in Asia ex-Japan and commodities. The only US holdings left are speculative biotechs and berkshire (which has been taking a bath).
Technicals show we are getting towards the end of a near term pull back, but technicals are only predictions based on prior events. This market is unlike anything we have seen since the 1920's.
 

JohnE

filthy rascist
May 13, 2005
12,644
661
Front Range, dude...
I have a bunch of Dinar from my travels in the region. Should I start planning my retirement now? I was just planning on throwing it into the woodburning stove some day...
 

G-spot

Monkey
May 3, 2004
470
0
Chester,Va.
I know several GI's that did that over in Iraq and still have the money waiting for the turn around,but I would not do it on-line unless you know the people.Plus it will be awhile before that happens.