Rotten Rodney Posted August 23, 2006 Report Share Posted August 23, 2006 No I didn't say Dinner. . . . http://www.betoniraq.com/ Link to comment Share on other sites More sharing options...
akdrv Posted August 23, 2006 Report Share Posted August 23, 2006 The site does not say what the odds are... Link to comment Share on other sites More sharing options...
Brett Posted August 23, 2006 Report Share Posted August 23, 2006 I would guess the odds are about as good as winning the lottery!!!! Link to comment Share on other sites More sharing options...
Jebat_Jr Posted August 23, 2006 Report Share Posted August 23, 2006 Billions of Iraqi Dinar already spread all over the world......will that affect the Iraqi economy? Are they going to print more & more banknotes to meet the demands? .......I don't know anything about economy........ Link to comment Share on other sites More sharing options...
superbeast1098 Posted August 24, 2006 Report Share Posted August 24, 2006 you can get iraqi dinar very inexpensively on Ebay..... The new Iraq 50 Dinar note that I have cost me all of 35 or 40 cents...... UNC condition..... Not too bad of a deal..... KFC Link to comment Share on other sites More sharing options...
JamesBaker Posted August 30, 2006 Report Share Posted August 30, 2006 I'm taking business classes in college.(finishing a degree I started 15 years ago) I can tell you something about currency futures. Sure the New Iraqi Dinar(NID) is cheap right now. Very likely it will increase in value. Not to pre Gulf I levels though. That exchange rate was set by Saddam Hussein, not the open currency market.(rate was $3.22USD to 1 Iraqi Dinar) The laws of supply and demand are at work here. Currently, there is NO demand worldwide for the NID. None! Iraq's situation is so precarious and unstable that even the gamblers on the FOREX won't touch the NID with a long stick. I'm doing a paper on this issue, and when it's done I will post it if you all are interested. Link to comment Share on other sites More sharing options...
superbeast1098 Posted August 30, 2006 Report Share Posted August 30, 2006 I would like to read that paper when you get done with it...... KFC Link to comment Share on other sites More sharing options...
Jebat_Jr Posted August 30, 2006 Report Share Posted August 30, 2006 The laws of supply and demand are at work here. Currently, there is NO demand worldwide for the NID. None! Iraq's situation is so precarious and unstable that even the gamblers on the FOREX won't touch the NID with a long stick. I'm doing a paper on this issue, and when it's done I will post it if you all are interested. I saw the NID were sold worldwide and the buyer keep on buying nonstop.....isn't that considered a demand? Please advice.......your professional view is very much appreciated! Link to comment Share on other sites More sharing options...
superbeast1098 Posted August 30, 2006 Report Share Posted August 30, 2006 There is a demand for NID, however insignificant, from people who just think they would look good in their collection. There seems to be no demand for them in terms of investment and potential profit. KFC Link to comment Share on other sites More sharing options...
Scottishmoney Posted August 30, 2006 Report Share Posted August 30, 2006 They may not be a good investment, but the hucksters on fleaBay would try to convince you otherwise. Maybe I should sell Hell Bank Notes as an investment. Link to comment Share on other sites More sharing options...
ccg Posted August 30, 2006 Report Share Posted August 30, 2006 Keep in mind that any thinly traded currency usually has a large buy/sell spread, so even a 30% gain could actually be a loss at selling time, and that's not even with interest factored in. Link to comment Share on other sites More sharing options...
JamesBaker Posted August 31, 2006 Report Share Posted August 31, 2006 As far as demand for NID goes there is none on the FOREX. As Jerat Jr. points out, you indeed see billions of NID on ebay, betoniraq, et. al. The reason is there are trillions in circulation now. What you see is only a very small percentage of the total number of NID in existance. Now the NID trades at roughly 1500 to 1 USD. So a few dollars turns into a ton of NID. There is potential for growth with the NID. However, until there is a stable infrastructure, regulated commerce and a central government that can survive, the NID is a huge risk at best. I don't know the total of NID in circulation now, but I would bet it is HUGE. Here in the good ol' US of A we have roughly $600 billion in country, with investments from overseas interests that total comes close to $1 trillion. At 1500 to 1 you can estimate that there could potentially be 5-600 trillion NID total. A few billion from a total of that size is barely a drop in the bucket. Plus any overthrow of the current Iraqi government would likely mean a new currency in Iraq rendering the existing NID worthless. Link to comment Share on other sites More sharing options...
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