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[zero0]

Hey guys,

I thought I’d keep the rich tradition of soliciting financial advice on the anesthesiology forums going by bringing up the topic of the Iraqi dinar.

As you may or may not know, JP Morgan was brought in to set up a central bank in Iraq following the war and they hired De La Rue to print the new dinar with the most sophisticated anti-counterfeit measures in existence. Seems odd considering the dinar to dollar ratio back then was 3000:1, the stuff was basically toilet paper. Nevertheless, JP Morgan, China, and several other investors bought up tons of the dinar at rock bottom prices. It seems like the writing on the wall is that the dinar is expected to skyrocket in value over time. Well, fast forward to today and they weren’t exactly wrong since the current value is about 1000:1 and is expected to keep improving.

So, what do you guys think about buying this stuff up?

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[Mman]

Hey guys,

I thought I’d keep the rich tradition of soliciting financial advice on the anesthesiology forums going by bringing up the topic of the Iraqi dinar.

As you may or may not know, JP Morgan was brought in to set up a central bank in Iraq following the war and they hired De La Rue to print the new dinar with the most sophisticated anti-counterfeit measures in existence. Seems odd considering the dinar to dollar ratio back then was 3000:1, the stuff was basically toilet paper. Nevertheless, JP Morgan, China, and several other investors bought up tons of the dinar at rock bottom prices. It seems like the writing on the wall is that the dinar is expected to skyrocket in value over time. Well, fast forward to today and they weren’t exactly wrong since the current value is about 1000:1 and is expected to keep improving.

So, what do you guys think about buying this stuff up?

sounds like something a med student should have nothing to do with as it is total wild ass speculation. You probably have better odds playing roulette in Las Vegas where at least you know there is only a 5.2% house edge.

Now on the other hand if you have a $20M portfolio and are bored and want to take a wild guess with $10,000 or $100,000, then go for it.

As a general rule of thumb, chasing what the smart money did in the past is not a viable investment strategy. For all you know those big players already made the easy money and buying in at this point is a bad idea. Heck, they might want you to buy in so they can start unloading and cash out their profit.

 

[vector2]

unless you're a professional trader, doing any forex speculation is the most ******ed thing in the world. speculating on iraqi dinars? that might be the most ******ed thing in the universe

 

[zero0]

sounds like something a med student should have nothing to do with as it is total wild ass speculation. You probably have better odds playing roulette in Las Vegas where at least you know there is only a 5.2% house edge.

Now on the other hand if you have a $20M portfolio and are bored and want to take a wild guess with $10,000 or $100,000, then go for it.

As a general rule of thumb, chasing what the smart money did in the past is not a viable investment strategy. For all you know those big players already made the easy money and buying in at this point is a bad idea. Heck, they might want you to buy in so they can start unloading and cash out their profit.

You hit the nail on the head. My suspicion is that the major buyers were only expecting about a threefold return on investment in a fairly short term and had no long term interest in the dinar. They could be dumping it by now for all I know.

I was mostly just curious if any of you happened to get in on this before it spiked and what your thoughts were going forward.

 

[Wiscoblue]

I made what was a lot of money at the time for me ($1500) when the same thing happened with the Korean currency. 25 years later today, all I buy is indexes and land. I've done well. But please don't invest in Iraqi currency. Just give your extra money to some homeless shelter.