Three Currency Scams to Avoid at All Costs

Comments (15)

  1. moses says:

    If the dinar is a scam, why does Financial Crimes Enforcement Network FinCEN allow it to be sold year after year?


  2. brian says:

    So if they remove the three zero’s from Iraq dinar the 25,000 bills will be worth nothing.


    John Reply:

    Actually if they remove 3 zeros, a 25,000 dinar donte will become 25 new dinars. Essentially the value remains unchanged.


  3. Frank says:

    For $100 you can buy about 100,000 dinar. What a cheap investment. If Iraq was to revalue their currency at even a third of what it once was $3.00+ that $100 investment could turn you $100,000. To me it’s worth staying at home one weekend and using that money to buy 100,00 dinar… just in case Ms. Canella is wrong. What do you think Karen, want to stay home one weekend?


    Fitz Reply:

    Well, no. Your $100 investment will turn into something very near $100. Let’s make the numbers real simple for you: if $1=1000 old Dinar, and 1 new Dinar=1000 old dinar (dropping three zeros in revaluing the currency), then 1 new Dinar=$1. So your investment of $100 could be exchanged for 100,000 old Dinar, and you could exchange that for 100 new dinar, worth $100. Minus exchange fees and, as the article mentioned, the plane ticket.


  4. Q-Ball says:

    Kuwait dinars sky-rocket after Desert Storm. There is no reason I believe one day the Iraqi Dinars will eventually rise, if not it’d be cool to look at a big boot box of foreign currency…. Right?


    Chad Reply:

    I agree this is a long term investment. I believe this will happen, I just don’t know when. How could it be a scam if you do your research and know what you’re doing. I think that the people that keep saying it will happen tomorrow or today are driving the sales up but the actual investment is not a scam. I bought mine at Chase Bank. Go figure Chase Bank is now open in Iraq. If I exchanged my dinar tomorrow it would be no more of a loss than a bad hand of black jack.


  5. Lonnie Freels says:

    Please show us on a historical chart where the Kuwaiti dinar skyrocketed. Lol. Did not happen! They revalued at a 1 to 1 ratio.


    Ron Reply:

    1 to 1 would be fine with me for the Iraq Dinar! Iraq has to do something soon, personally it would be a crime to drop the zeros before some type of RV? It’s like saying that $10.00 bill in your pocket all of a sudden dropped to 1.00, just imagine if that happened here in the USA, citizens would go bankrupt!


    jcjc Reply:

    It happened when the troops went into Iraq in the Christian square in 2003 and a Sgt gave the children one dollar bills, thus in those days a dollar was worth more to them than what the value of it is now…. food for your thoughts…


  6. Ron says:

    You gotta love these people that make comments like this with little facts, well here are some for ya” if it is a scam to invest in Iraq then why did Citibank remove all there investments from some 20 different countries and put it all in Iraq? Iraq will be in second place for the worlds largest oil/gas supplier even over Russia! There is no question their currency will get back to what is was before the war, the only question is when? It’s funny how this was posted right after they were released from Chapter 7 which what was needed for Iraq to resume it’s trade with the rest of the world! I think this article is B.S.


    jp Reply:

    Not in our lifetime, you dummy.


  7. Robert Howard says:

    The best way to avoid Dinar scams is to learn how to recognize a good currency dealer by doing your own homework. Read articles and reports about the Iraqi economy and the Dinar before investing in it. Foreign currency investments can help boost your portfolio’s returns, and avoid the stagnation of U.S. markets.

    You’ll become a better investor by studying foreign economies and currencies. There are many different foreign currencies, each with its own characteristics. Investors often focus on a particular geographic region and focus on finding the most-undervalued currency in which to invest.


  8. Mark A. says:

    Good call on BitCoin there, no investors became filthy rich from that investment… Oh wait. Listening to so called “professionals” who scream scam is as bad as listening to scammers saying I’ll make you a millionaire overnight. Do your research and invested in an educated manner.


  9. Richard Boyd says:

    Informative Vs Exaggerating

    In fact, it is unfair to say that all Iraqi dinar sites are selling dinar on misleading hype. I don’t deny it there are some sites exaggerating on revaluation and the expected dinar value after revaluation but still many respectable sites offer very useful informative platform for investors in Iraqi dinar. Some sites update with news on the Iraqi economy and the situation in Iraq and the expected deletion, dropping of zeros. They offer blogs, forums and news excerpts. Of course there are some zealous iraqi-dinar-aholic who express their thoughts in such forum in an exaggerated over zealous manner but is the the fault of site owners. most of the respectable Iraqi dinar sites offer daily currency converter and daily results of the Iraqi CBI auction. Iraqi dinar is an investment because of the economic situation in Iraq gets stable, the value of the Iraqi dinar will increase gradually or dramatically. Both scenarios are possible.


Add Comment