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Financial advice

aeroswat

aeroswat

Member
Joined
May 20, 2004
Messages
287
This evening while I was smoking a VSG Illusion, I got a call from a friend about something he heard about, I was sent to this site RIGHT HERE and told to check and see if this was legit and would it be something that might be profitable,(I guess I'm the smartest of my friends, not saying much) but after checking online everywhere possible from what I came up with is that it looks legit, but still don't know if it is something worth considering



short version, buying Iraqi Dinar, holding onto it for awhile and then selling it back for a profit.

and no that does not mean getting an Iraqi a meal at Mickey Dees
 
Agree with Moki. I trade currencies, and the dinar is not traded on the open market, because it does not have any real value outside Iraq.

I do however know a Nigierian prince that is looking for a partner to make a windfall.

JK

moki said:
erm... currency speculation is not something to enter into lightly... especially a currency as volatile as the Iraqi Dinar. Do yourself a favor, if you have extra money laying around, put it into a CD or mutual fund.

http://reviews.ebay.co.uk/Iraq-Dinar-so-ca...000000001261184

http://newpatriot.org/2005/05/mitch-hawks-...dinar-scam.html

http://blogcritics.org/archives/2006/05/16/124639.php
Click to expand...
 
3-4 years ago all the GI's were buying Iraq Dinars, I personally know a guy who bought like 10,000,000 for like $100. They are worthless to this day!
 
Not much to add to what the guys above have said. Currency speculation can be very risky. Especially trading in a currency in a country as unstable as Iraq, with a market as illiquid as that for Dinars is.

Someday the US$ spigot will have to be turned down there, and the Iraqi gov't will be paying for a lot more. I'm guessing they'll have to inflate their currency to do so. If there still is a government there.

CD rates aren't too bad right now, and principle is FDIC insured up to $100,000...
 
Thank you guys, I knew there was somebody on here smarter than an okie(see that freeburn), and to keep this cigar related, I am getting ready to smoke an AF Double Chateau Sungrown, to start off this morning,

Moki do you ever sleep, you always on here aint you
Thanks
 
You really ought to contact that new member, dliss. I've read that he's a real reputable broker who could sell you some fantastic investments, plus a couple Padron Millenniums too!
 
The best financial advice I can give you is not to ask for financial advice on a cigar board! That being said, if you want to keep it very liquid, I like savings accounts. Mine earns 6%, although I expect it to go down slightly next month (to ~5.5 or so). Better rate than many CDs, easier access to money, FDIC insured.
 
Stick to mutual funds.

I'm an investor through Edward Jones and I currently invest in FFALX by Franklin Templeton. Its long term and it spreads your money out evenly between 3 holdings or asset allocations (33.3% roughly in each). $1000 to open and its been working well for me. I haven't been in it long, but I'm in it for the long run.
 
Think about it in terms of reality. The Iraqi government had just experienced a revolution. Their money is absolutely worthless. The current "leader" is someone whom was approved by the U.S. Unless you are investing in Iraq oil (which will soon be as worthless as the sand that surrounds it) don't bother.
 
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