Jim Cramer of Mad Money Talks About Iraqi Dinar

[RealConty]

“Central bank holds in its several steps” is the key. The dinar is revaluing slowly, which is step one. Once the dinar gets to the proper value, then Shabibi will introduce the lower denominations into Iraq, which is step two. Step three will be removal of the USD from the market place, but that will not be achieved until the dinar is at par value with the USD. imn.iq/news/view.9508/

[RealConty]

@pistolmuthafukinpete That's right i see this like playing lottery. Same for the Yuans. This is all speculation so I WILL TAKE THE RISK READING & LOOKING for myself. I bought My Yuans yayyyyyyyyyy.

[tzzlite]

@RealConty But the RV part is a scam! Currencies don't go up 1000%+ overnight! Only FOOLS believe that!

[RealConty]

@tzzlite I'm not expecting a fast RV, a lot of dealers are lying about that. I'm expecting a slow RV, I just want $0.01). “Central bank holds in its several steps” is the key. The dinar is revaluing slowly, which is step one. Once the dinar gets to the proper value, then Shabibi will introduce the lower denominations into Iraq, which is step two. Step three will be removal of the USD from the market place, but that will not be achieved until the dinar is at par value with the USD.

[RealConty]

I bought the dinars (1,000,000 IQD) back in 2004, I only paid $700 for them, we are now in almost 2012 and If I sell my dinars to a dealer they are gonna pay me $985 so DON'T TEll ME THAT THIS IS A SCAM!. I SAID TO THEM HELL NO! I WILL WAIT 2 MORE YEARS.

They told me VERY CLEARLY THAT THIS IS A HIGH RISK INVERSION AND I UNDERSTAND THAT, ALL IN THIS LIFE IS A RISK AND IM GONNA TAKE THAT RISK

I bought my dinars in Florida (800,000) & Puerto Rico (200,000).

BTW I also buy the Yuans (JUST IN CASE)

[stuttgurth]

I really feel sorry for those who have invested in dinars.

[jjreese2]

@stuttgurth thank you for your pity. god forbid i just go back to the currency exchange rate place i bought them at and trade them back for exactly what i paid for, give or take 10 dollars. i feel sorry for you, you're just jealous when you wanted to buy some that the banks stopped selling them :'(

[stuttgurth]

@jjreese2 Ye i guess you could give them back now at a loss. better than having to scramble around trying to exchange them (wherever you might be able to do that) when they demonetize.

[123THERollyboy]

Turn money into gold and gold into money at Gold Trading Academy. If you have spendable money, come trade gold! Come visit my website Gold Trading Academy.

[wspiller72]

they will re-value the new currency, the new dinar not the old dinar that is availiable to international banks and availiable to foriegn countries. the new dinar which is already in iraq just not in circulation may be revalued.which will not make the old dinar worthless.making it worth the risk really.they cant revalue something that you paid more for or earned.they will make it right to all who has the currency prior to the switch.after the switch will be s.o.l.prob. give a 90 day x-over period

[Cmndr999]

@Warhorse2013 Regardless of how bad off you think we are, everyone else seems to be in a worse situation. BTW, Good luck with your 5 million. Hide it, as I predict even more riots in the streets abroad.

[Skippycue]

@TheHiberian

@TheHiberian

Actually you have that flipped around. If we are paying an exorbitant amount for an LCD TV; 1 USD wouldn't equal 3.40 IQD... it would be 3.40 USD = 1 IQD. Those of us who believe that the NWO is orchestrating the demise of the USD, at the same time they are orchestrating the rise of the IQD (an economic babylon). Here is Soros speaking about the demise of the USD: /watch?v=Ba0-rRr1y_c

[iLoveMyGun89]

Somebody told me that 1,000$ could turn into 3 MILLION over night. Hahah, laughable. I wonder if he has any bridges for sale?

[Skippycue]

@iLoveMyGun89

What you were told is true. Iraq can support a dinar rate higher than 3.40 (as their rate used to be higher than that prior to the war and the IMF devaluing their rate). In 2003 their rate dropped from over 3.00 to a basement price of 3000 iqd to 1 usd. Now it sits at 1170 iqd to 1 usd. So for 1000 usd you could roughly buy 1 million IQD at the current rate, and then when they revalue the dinar to what their economy can support (3.xx and up) 1,000,000 iqd X 3.xx = 3 mil usd

[iLoveMyGun89]

@Skippycue So your whole base is "when it is revalued"? Its been 8 years, when is it going to be revalued? I know "Its coming" but so is Christmas....but Christmas is guaranteed to be here.

[Skippycue]

@iLoveMyGun89

You take a third world country and update their banking system to something closer to that of Wallstreet, how long is that supposed to take? There is a lot more that goes into this than just flipping a switch. Iraq had a 5 year plan to complete their banking infrastructure and the RV and that deadline is only a short time away (days). Believe what you want to believe as I am not going to convince you of anything you don't want to believe in the first place.

[iLoveMyGun89]

@Skippycue Your flaw is in the first sentence. "You take a 3rd world country and update their banking system to something close to Wallstreet". When do you expect Iraq to have ANYTHING close to Wallstreets magnitude. Dinar is a scam. Its been going on for 8 years, and not 1 sincle person has made a cent.

[1Logan338]

@iLoveMyGun89

Sir, I'm up over 20%. So at least one person.

[blingstar1976]

@Skippycue hater

[Cmndr999]

@iLoveMyGun89

So true. I laugh "with" all these dealers who are selling their dinar online promising prosperity to all. Why would anyone so sure of an impending RV bother to sell them? Why not make the money for yourself? I think in financial lingo these dealers are called "pumpers" but in my view they should be called "circus barkers" leading people into a freak show. Very sad to see ignorant investors being taken advantage of by these clowns.

[rulesforrebels]

@Cmndr999 good point. plus many times rv doesnt make the money more valuable just makes diff denominations. mexico did an rv in 1996 nobody got rich it just meant if you had 50,000 pesos you now have 50 pesos but in terms of us dollars you have the same value. i recently bought some vietnam dong i look at it like a lottery ticket.

[Skippycue]

Just depends on who you speak to.

[Skippycue]

BTW Tony I went to my local Bank of America a month ago and asked the teller several questions about the IQD revalue... she smiled really big and said that IT hasn't happened yet, but they are advising all of their customers with IQD to obtain the services of a CPA and that they (b of a) would be very happy to do business with me after the iqd revalue. It is such a scam that even the teller @ Bank of America is in on it...?

[Skippycue]

Shabibi just had a major announcement this week that the iqd is going to revalue before 6/30/11 and possible rates. So if this is a scam why would they go public with it on Iraqi TV? BTW if I own 100,000 dinar and it were to revalue at a basement level of like .10 cents... my $150 dollar investment would have just made me 10,000.00 USD. Iraq can support a much higher rate, and this was all orchestrated by the powers to be.

[ussco]

@Skippycue

Where do you see this?

[Skippycue]

@ussco

Where do I see what exactly? Where Shabibi has made that announcement? I know several people who currently live in IRAQ and some of them can speak the language and were translating the speeches he gave on the 20th of June. They also made a special announcement at the mosques last Friday, regarding how the IQD is going to be a higher rate than the USD

[ussco]

@Skippycue

Do you have a link or was it just something you heard someone else say?

[Skippycue]

@ussco

scribd .com/fullscreen /56969846?access_ key=key-ffdzhkoknbtoonkigwd

a legal document referring to the WGS and the RV

(remove spaces in link)

[Tonyyyyy37]

THe Dinar is a huge LIE. I have expert research that says this will never RV higher. I feel bad for the millions of people who fell for this SCAM.

[GWhitencounter]

I became a millionaire off the dinar back on September 17, 1994. People said then it wasn't going to happen and it did and it will again.



[angie7dino]

@GWhitencounter were you apart of the Kuwait Dinar Reval ?

[cleremond]

They will either remove three 0's from the notes themselves AND remove three 0's from the nominal rate at the same time, meaning that a 25K note becomes a 25 note worth $21.25.......or.....they will ONLY remove three 0's from the nominal rate....which would mean your 25K note would be worth $21,250. Though I would LOVE the latter to happen, its much more likely that the former will be the case, and then the dinar will just appreciate in the market. We'll see.

[TimFurmanMusic2]

im with mama chip this dude doesnt know shit he was saying mcdonalds would fail before merril lynch and then two or three days later whaddya know! and this whole dinar thing is just a desperate notion crafted in the minds of desperate people who are fucked in their situations in life and need something to save them. If there is no risk there is no return its like buying a rolex and selling it to the same dealer u bought from, ur gonna get 25% of what you paid 30 days later, except 10 years lol

[96JUSTIN]

when they dont even accept Dinars as currency in Iraq right now all the vendors only take USD that right there tells you something.....

[mamachip]

This is the same guy who said Merrill Lymch couldnt fail two days befor IT DID

[tourch10]

To all the people say grats to the dealers for making all the money.. That's not true at all. Its a win-win situation for the dealer and the customer. If it wasnt for the dealers regular people would not be able to invest in something they want.  and if it wasnt for the customers dealers would not be able to make some extra money on the transaction to purchase more and to stock up on it. The dealer get to put more away for themselves and still make instant cash they can live off of right now.

[tremlk]

Its crazy who do we believe at first it sounds like an opportunity of a life time then it sounds to good to be true. Then it feels like you better jump on it quick or you will miss your chance to be rich. Such emotion and controversy. Who do we believe. Well I guess it coundn't hurt to buy some of it. But at the same time knowing that there is no possible major return in the near future. Maybe five to ten more years tops. I guess its not to bad if you can afford to wait.

[Yamakashi1]

=]

[robport110]

the dinar will re-value in the international market.

[key0606]

this is the same guy who said to invest in bear-sterns before it folded the next day, nuff said. clearly he is quite qualified.

[mysticmandyy]

After rumor BOA was planning 4 RV I wrote them: "Bank of America does not exchange Iraqi Dinars. There r no plans 2 offer retail exchange services in Iraqi currency...U shud know that talk of the Iraqi Dinar revaluating has been circulating 4 yrs. We urge u to seek the advice of a competent, professional investment advisor before making any investment. You should treat with extreme caution any investment schemes u read about on the Internet. Sincerely, Diana bankofamerica . com/foreigncurrency"

[tchikki]

@mysticmandyy Oh my gosh... you can use government/BBB approved websites for foreign exchange, and their are banks that do foreign cash exchange. Yes, the news of revalue has been out for years, it happened it Kuwait when war broke out over there. Now Iraq has a new government formed and most everything is in place for the revalue, even lower currency is in the Iraqi banks as I write this. If it doesn't come thru, you can exhcange your money right back!

[EMPIRE0FLIES]

If it comes from a printing press, its a ponzi. And specially if it comes out of this idiot Cramers mouth.

[Smoogle]

daaaamn there is soooooooooooooo much money on this - make your move now it's legit - just a long waiting game.

[godschild307]

Lord I thank you for allowing me the opportunity to become a millionaire. Go Dinar!!!!

[StraightAA]

@godschild307 More accurately, thank you lord for giving Iraqi money dealers a handsome living. :)

[getdong]

@godschild307 a great place to pick up dong and dinar is getdong and gotiraqidinar lowest prices on vietnam dong on the internet.

[40000iraq]

But you (the american goverment) are stealing all the oil iraq owns.And Iraq has more oil than any country in the world exept for saudi arabia so the middle east`s currentces is worth alots of pounds and dallors.

[specifyish]

They may re-denominate, ie. 25000 dinars($21) becomes 25 new dinars($21).

I don't understand what people mean by it being re-valued, why would it be re-valued? If it were suddenly re-valued what bought a loaf of bread in Iraq 1 day would buy a new car the next day, who is going to supply new cars to the Iraqi's for the price of a loaf of bread?

In investing, higher risk = higher return, the Dinar is being sold as no risk=massive return! Too good to be true?

[jsmythib]

@specifyish Most global currencies float at a value level against commodities- revaluing in this sense basically says if my currency revalues at a lower level , I can buy less commodoties on the market. By the same token If my currency revalues higher I can buy more corn, oil etc with less currency from the market. If you knew this sry to babel :)

[aamadwj]

@specifyish

If the iraqi gov removed the zeros ,the iraqi ppl ,will feel that their currency became stronger ,and they will not use the USD too much in their businesses inside the country so the demand for the iraqi Dinar will increase and the demand for the foreign currency will reduce ,,

[specifyish]

@aamadwj A: The Iraqi people are not that stupid.

B: 90-95% of GDP is from Oil which is transacted in USD-as is the norm throughout the World.

C: Most Iraqi government bonds are held in USD.

D: Re-denomination is purely for practical purposes in daily transactions. It is unlikely to cause deflation in the way you are suggesting. The Iraqi Central Bank will set interest rates to control the value of the currency within sensible limits to prevent damaging the growth of their economy.

[SargentBlah]

If this ever did payout, and with the way some folks BLAB on and on about their investments, what good will it be on payout day when every Tom, Dick, and Harry is cashing in?? Shut your freakin mouths already about it, geez. Just SHUT UP about it!!!!

[joeysixtysix]

The war was all about helping the US economy. The Dinar will go up and make many Americans and others alot of money. The economy will boom. It's all planned out. Time to get in for few hundred bucks, what do you have to lose? Are you going to miss that 300 dollars if it never happens? Probably not. Most of us blow 300 bucks all the time on useless junk.

I wouldn't invest a life savings in this but 300-1500 bucks, who cares?

[poonie55]

straightAA  you are going to cry when the Dinar goes up before the end of 2010.

Its going to happen.

[StraightAA]

@poonie55 Good luck mate... I'll buy after they remove the triple 000s.

[SarahsSeniorYear]

@StraightAA

I can live with losing the money, that I spent on the Dinar. If it does hit and I didn't make the play, Wow, now that's allot of regret

[StraightAA]

@SarahsSeniorYear I understand your reasoning... however, the only people who will win here are the dealers. Wait until it is a traded currency and then buy and speculate on the growth. Right now you are not going to make the killing you imagine. I've listened to the sales pitch for 2 1/2 years. If it was going to play out the way you think no one - NO ONE - involved in commerce would be selling these , they would hold them. Including the Iraqi banks. Good luck Sarah. :)

[drkevincampbell]

@StraightAA You are completely wrong in your advice. I've been a forex trader for 20 years and have great contacts in the banks.  The dinar is going to revalue very soon. The dealers will make a nice profit. The buyers will be pleasantly surprised.

[StraightAA]

The dinar may well increase in value over the next few years and is a good bet for speculation. 'Speculation' being the operative word. . However the bank/govt will not suddenly increase it's value by 300 – 400 – 500 times in one smack like some people have been led to believe not without serious problems. Plus, every Iraq would be a millionaire overnight. :) Ask yourself this? If this was the deal it's being billed as... Why are these dealers selling? They would be hoarding instead. 

[MauserBroom]

Isnt it possible that if Iraq revalues its currency it could also print new notes, the 'new dinar' and make the previous notes obsolete - I have a Zimbabwe 100 Trillion dollar note, but I dont expect that to be worth anything, ever. When Zimbabwe revalues, it will produce a new fiat currency.

[Deadwooddave2]

About Donald Trump and the Dinar Buy, let us look at it this way, if you made $20,000 a year would you / could you afford $3 on an investment? Well Trump is worth $2.5 BILLION , $30 million is just a drop in his bucket, if I were him I would buy some Dinars, in fact I have some Dinars and I’ll be smiling when it revalues, me and Donald !

[gotitans999]

5:16 I'm signin bullshittin

[britesh007]

The revalue will happen. Right now the current iraqi dinar is 1168 per 1 dollar. When the revalue the currency they will change the ISO. This is the important part. The ISO means a new different type of iraqi dinar. This is going to be the revalue

1 US dollar= 1 new 2010 revalue iraqi dinar= 1 current iraqi dinar.

You will get back what you paid for. That is a big if. If Iraq determines that the only place where you can exchange the currency is in Iraq. Guess what? You will have to go to iraq

[cyoyo81]

That is a rumor about Iraq changing their curreny is crazy???.Why would iraq change there currency when they have one of the most security features on the bills especially the 25000 dinar bill compare to our weak US dollar.I bet the value of the dinar will become expensive at the end of August 31 2010 when the US troops leave at that time people who have there doubts will regret it soon.The same have happen in Kuwait when US and Kuwaiti Troops have gotten Iraqi Troops out of kuwait

[StraightAA]

@britesh007 I think you've nailed it here... The only people who will make money on the old dinar will be dealers... buying them back with a price attached. The re-valued Dinar is the one to speculate on. Nice to think you could become a millionaire overnight it just ain't happening. Good luck to evryone who has bought these I hope you don't get burned.

[fixitjamie]

unproven rumors about Trump.

[MacProforlife]

How do you know Donald Trump purchased the Dinars, what proof do you have?

[GoneBazaar]

Donald Trump bought 30,000,000 dinars, so I bought some too!

[bmr89]

yeah it will hit, just a matter of time :)

[cadeeands]

I'm from Iraq, and i have high hop it will go back up we have a sea of oil under ground , what deos the rest of middle east have beside sadia arbia ( nothing )

[sarahslayer]

Man I hope it hits!!