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Betting on Iraq's future

Discussion in 'Off-Topic' started by Freemason, Jun 2, 2005.

  1. Freemason

    Freemason Banned

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    Betting on Iraq's future

    www.betoniraq.com

    For those of use that have been saying we believe Iraq will recover and become prosperous, now we can put our money where our mouths are.

    I think I'll put 1/5th of my next investment into Dinars.
     
  2. nrabbit

    nrabbit IncGamers Member

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    this sounds really nice :D i think ill go and get myself some iraqi money who nows i may become a millionare later on :lol:
     
  3. DrunkCajun

    DrunkCajun Banned

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    Yeah, that stuff could be worth something on eBay when the country implodes! :teeth:
     
  4. skihard

    skihard Banned

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    that is prety interesting, I might just purchase a few hundred worth but from a currency exchange / broker not from a website

    why are you so negative about a country starting to prosper?
     
  5. DrunkPotHead

    DrunkPotHead IncGamers Member

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    I have two issues. First off, how do we know that the Iraqi's won't change their currency to something else to get a totally fresh new start?

    Second: It will take too long to get a return. I might as well invest in a US government bond and get 200% return in the same amount of time, 100% guaranteed.
     
  6. DrunkCajun

    DrunkCajun Banned

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    It was 3/4 humor. Touchy today, aren't we? First I'm America-bashing by saying that the US isn't as almighty and impervious as it thinks it is, and now I'm hating on a country "starting to prosper?"

    Tell you what. I'll gamble my money on the "prosperity" of Ecuador before I start throwing my life savings away on Iraq at the moment. I'm far from convinced that they're going to emerge as a shining beacon of economic prosperity anytime soon.
     
  7. skihard

    skihard Banned

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    not touchy, sorry for coming across that way, your posts just seemed very negative, could be that emotion doesn't translate though text very well, my bad.
     
  8. jmervyn

    jmervyn IncGamers Member

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    Drunk's crankiness aside, I think it would be pretty self-defeating for them to dump their currency. Heck, they didn't even like the pastel-colored flag some U.S. pencil-pusher tried to foist on them. I'd be more concerned that there would be some socialist-style resource grab by the state, like what happened in Iran. That would devalue your investment, sure as little green apples.

    I agree with your second point, but there's no reason that some people might not be willing to do it. After all, that's what keeps speculation markets running.
     
  9. DrunkCajun

    DrunkCajun Banned

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    Funny that emotion is so hard to convey--I agree it is, and no worries ski. I myself am grumpy this morning and am apparently not doing a good enough job of hiding it, so am unintentionally conveying that myself. Apologies to all. At any rate, bottom line is I'm not ready to put my eggs in that basket and not lose sleep over it. I frankly don't put Iraq's economy any higher than your average third world mess at the moment.
     
  10. jimmyboy

    jimmyboy IncGamers Member

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    Foreign currency. Are you guys nuts?

    If you're so inclined to invest into Iraq. Buy Halliburn stocks.

    Can we say... M-O-N-O-P-O-L-Y?
     
  11. Freemason

    Freemason Banned

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    Why would Iraq change it's currency when it's been using the same thing since forever? It was the dinar before Saddam and it's the dinar after. You're just making excuses.

    According to the website the Dinar is worth .105 cents. You can't be serious and think that it's not going to skyrocket once the terrorists are defeated and the oil really starts flowing steadily. It'll rocket past the old value, making anybody that invested now obscenely rich. Wouldn't you have liked to have gotten in on Microsoft when it was five bucks? I want in on the Dinar when it's not worth the paper it's printed on.

    Because I believe Iraq is going to be THE nation in the middle east to do business with and thus richer than the Saudis. Rich nations have money that's worth something. Right now the dinar is junk. In 10 years, who knows? What if the dinar reached it's old highs of $3? $100 worth of today's dinars would be worth $285,714.

    You say it'll take too long. How long is too long? How long do you have? I have 15 years to prepare for sending my boy through college. I have 40 years to prepare for semi-retirement (I'll never really retire). Do you think that in 15 years Iraq won't be one of our main suppliers of foreign oil? Their currency isn't going to remain worthless. All you have to do is quite being a doom & gloomer and realize that it's not all bad. Only then will you come to see that there is opportunity to be siezed.
     
  12. DrunkCajun

    DrunkCajun Banned

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    Funny, I seem to recall a certain President saying that the war on terror isn't a war that's gonna have a clean, definable end to it, but more that it would be an ongoing type of thing. Musta been some other President.
     
  13. skihard

    skihard Banned

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    Yes a president did say that but I believe that the insurgents that are currently fighting against the new Iraq will some day be defeated and Iraq will someday be a nation of high stature. It wasn’t but 10 years ago that you could talk to anyone in England or Ireland and they would have told you that the IRA would never be defeated. (Not sure your age but the IRA wasn't a retirement account) It wasn’t but 50-60 years ago that people in Germany were saying the Natzi holdouts would never be defeated. Terrorist active will never (in my life time) be completely wiped out but I’m think it is a pretty safe bet that it will be so close to non existent in Iraq in 20 years that a small investment of $100-$300 over the next 6 months will have huge payoffs in 20 years.

    If it doesn’t the most I’m out is $300 and I’ve lost more than that over the past 3 years on my non conservative stock investments. Thankfully the low to mid yield investments I’ve made have more than made up for my aggressive investment losses.
     
  14. DrunkCajun

    DrunkCajun Banned

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    I'll still stick to my oil stock. :thumbsup:
     
  15. Omikron8

    Omikron8 IncGamers Member

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    The Dinar value will skyrocket when "the terrorists are defeated"? Considering the premise that the U.S. used to occupy that country i don't forsee terrorists being defeated in that nation for many years.
     
  16. DrunkCajun

    DrunkCajun Banned

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    Which premise? I've lost track of what it is this week.
     
  17. Freemason

    Freemason Banned

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    Notice that it's the optimists about the war on terror that are willing to invest in Iraq. The pessimists are still convinced they can snatch defeat from the hands of victory.

    Pessimists don't wind up successful. It takes optimism to do it. Since I'm the most optimistic one here it looks like I'll also wind up the richest one as well. Don't worry though, I'll have need of somebody to clean my toilets. I can provide you job security. :lol:
     
  18. Forcefeedback

    Forcefeedback IncGamers Member

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    Who knows if oil prices start to drop once cars stop using petrol?
    Who knows if this is some trick to get lots of dollars for starting money for iraqs rebuilding?
    Even if dinar value skyrockets how can you cash out large sums of dinars for dollars from a recovering country with still unstable economy?
     
  19. Freemason

    Freemason Banned

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    Somehow I don't forsee the world stopping using oil. Oil isn't going to go away for a long, long time. Lubricants, plastics, fuel. No substitute exists.

    Lemme see here. I buy Dinars which helps fund the rebuilding of an economy which will grow and will cause the Dinar to go up in value... And this is a bad thing? Somehow making the value of currency I have a lot of go up in value makes the capitalist pig in me all hot and bothered.

    Simple. You don't exchange the currency until there is a demand for it. Which will happen with a stable economy.

    What's so hard to understand about this? The Dinar is at 100 year lows. The Iraqi economy will recover. We'll buy enough oil to ensure that. The Dinar won't remain worthless forever. Ask any investment counseler if it's a good idea to buy low and sell high. Especially knowing that it will go up in value. Very likely by several thousand percent. Then ask yourself why you wouldn't want to get in on this.

    That is unless you want to be like all of those that didn't invest in Microsoft back when they first started up. You know, the ones that aren't multi-millionares.
     
  20. Forcefeedback

    Forcefeedback IncGamers Member

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    I'm not saying world will suddenly stop using oil, just amusing you with a picture of a future without petroleum cars. If there wasn't as huge demand for oil as currently, oil price might lower significantly thus it won't be as profitable as before and no longer a ticket to obsene riches.

    I'm not saying it's not profitable to you, just pointing out that if USA is openly offering this chance, it might be just because they need the money in iraq for rebuilding, not because they are a benevolent and wise and wish that their rich citizens become richer with (dirty?) foreign oil money.


    Keyword here is stable. When there is stability in iraq you will surely be able to make a profit. When this is happening is anybody's guess. Iraq is a melting pot and it can remain unstable for a long time and even when stability is reached have its oil pipelines bombed by religious fanatics or some such.
     

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