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Poof no eyebrows
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Discussion Starter #1
Just wondering, some of my friends are planning to, and I read about it on another website. The exchange rate as of today was

1 US Dollar = 1,461.20 Iraqi Dinar
1 Iraqi Dinar (IQD) = 0.0006844 US Dollar (USD)

Not sure if it's a good idea or not. I'm thinking about a one or two hundred dollar investment. Any thoughts?
 

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I've often thought about doing that with currencies that are on the lopside. My co-worker is Turkish and he todl us their monatg was like 5 million to one dollar! They finally rest the whole system or they were going to very soon.

That worries me as to inveting in currency if something like that would happen, but for 2 bucks it couldn't hurt!
 

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I'm no George Soros ... who probably owns some Iraqi dinars.

How does one invest in them?
 

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Discussion Starter #4
AClay47 said:
I'm no George Soros ... who probably owns some Iraqi dinars.

How does one invest in them?
I think you can purchase them online or do a currency exchange at your local bank.

I belive most banks are cheaper than what you could get online. I checked with mine and it's an $8 fee for a currency exchange. The potential problem with a bank is that they may not do one for the dinar due to instability in the country.

I think US bank is one you can do this at, I am currently awaiting a phone call from mine( hunington) to see if they can.
 

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Yeah, I might want to do this as well. For a $20 investment it might not be bad even if I sat on it for a few years. I spend $20 to eat lunch out during a week sometimes, no loss.
 

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Buy in when it starts to go up.. But.......I dunno, I would never invest in anything outside US. Besides, the US Dollar is down now, not a good time to invest in foreign currency.
 

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SangRun Hunter said:
I've often thought about doing that with currencies that are on the lopside. My co-worker is Turkish and he todl us their monatg was like 5 million to one dollar! They finally rest the whole system or they were going to very soon.

That worries me as to inveting in currency if something like that would happen, but for 2 bucks it couldn't hurt!
Well, actually, on the currency exchange the Turkish Lira is something like 1.5 million to the dollar (or a bit less). Still, given that the Turks are finally taking some steps to reign in their inflation in order to forge closer ties with Europe, the Lira may actually be worth something some day. BTW, when I was in Turkey in 1971, it was 14.85 TL to the dollar.

The reason I keep tabs on the Lira is that I hope to go back some day to revisit Ephesus, Troy and the Gallipoli Peninsula.
 

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Interesting.


My local bank says that bank of America is the place to go for currency exchange. I went online and visited a few currency exchange sites and did not see the Iraqi dinar on it. Iraq has one of the world's largest reserves of oil. Once the Shias consolidate control over the country, including the Sunni Arabs, their currency should become more valuable. Can Iraq's currency be weaker? What are the odds? Sounds like a good bet/specualtion.

The Turkish Lira is interesting. Still, Turkey does not have OIL. Still, if Iraq becomes proseprous, Turkey will likely follow.

I'm considering investments. Gold is recommended by many. My bet, however, is on the dollar. I think it will gain in comparitive value, since our economy is stronger than we were led to believe during the election cycle. The latest nonagricultural job figures were much higher than expected.
 

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Real Estate, not land but single family homes, land is highly speculative and given the long term outlook on concrete shorteage and the accelerated appreciation rate of existing housing, it's a sure bet, but you need to find the right area to do it. In south Florida they are appreciating at 1.14% per month if you can believe it.
 

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I've made money on real estate! It is a good investment, though nowhere near as liquid as currency. I like working on distressed homes, too. I'm not a learned carpenter, electrician etc., but I learn as I go, and have done some pretty darn good work!

I bought my first house for $18,000 less than fair market value from a motivated seller. Paid only $2500 up front, the balance with a note. After doing ordinary improvements, painting, new driveways, and sidewalks, carpet, I refinanced the property and got cash out of closing, too. The payments were less than those of the seller - with a 15 year loan. I'm fairly sure whether the marlet for motivated sellers has been tapped by companies now. The house is worth about 100,000 now. In Florida, it might be a $175,000 property? 1/2 acre ranch, half brick 3 BR, basement, 1500 square feet, two paved driveways/

I did another house, in a similar manner, but hired out the improvements (close to $30,000) and probably made a minor profit, at best - not enough sweat equity. Bought that house for $41,000 and sold it for $81,000. I tied up too much money with the property, which could have been turned around more quickly elsewhere. It was a 4BR brick house with basement and 2 concrete driveways, maybe 1/2 acre. Location was okay, but not in the best neighborhood.
 

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Code name: Felix
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A 1500 Sq. Ft. home on a 100 X 80 City lot in my neigborhood is going for $300,000.I bought mine back in 1985, 4/2 garage, family room and pool, a tad over 2000 Square feet for $91,000. I've done new floors, new circular driveway, electric, most of the plumbing, new doors and windows, new central AC, updatred bathrooms....it's valued at about $420,000, but if I sell it I'll have to pay more to find a similar one. I have a duplex that back on 1980 was bought for 80K, since then the county enhanced the road and rezoned it commercial, it's worth over 600K now. Not interested in selling either one.
 

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WOW! Nice investment, and you got to live in it, too!
 

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Smart and tax free money!
 
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