Iraqi Dinars as an investment

I have 500,000 Iraqi Dinars damn it. What the hell do I do with them!?!?

looks like you own about $403 american.

Right.

#@$%%%$#!!!!!

I have to leave please keep me in mind.

you keep us in mind. Do remember you promised me a camel.

My buddy told me to keep this dinar thing under my hat, and know i've got it featured on the world wid web.

In ten years i'll be using this crap as wall paper.

F#@k it......I'll use them to make some avante garde political statement and seel it for 403$.

Posted 8/3/2004 12:30 AM Updated 8/3/2004 9:34 AM

Investors in new Iraqi dinar spur thriving Web trade
By John Waggoner, USA TODAY

http://www.usatoday.com/tech/news/2004-08-03-dinars_x.htm

Amigo, take it from me in all earnestness, you are a moron.

F$#K!

I'm not going to be rich?

Back to the drawing board?

Please give me the skinny on this dys. That is if you care to.

Don't tell Dag. She thinks I'm millionaire.

actually Amigo, I know Dag and she also thinks you are a moron.

a millionaire moron?..........or just a moron?

One of these days Amigo's boat is gonna come sail'in. You'll see. YOU"LL ALL SEE!!!

Thinking about buying the Iraqi Dinar? If so, read my eBook first!

The Iraqi Dinar is considered the second biggest currency scam on the internet according to the State of Utah and it's because dealers are making a ton of money from you without your knowledge!

The Iraqi Dinar itself is real, but it's the hype and false hopes that dealers push on you that make it a scam. They tell you that you need to buy now and forums (filled with a bunch of pumped up posts) seem to back it up.

Make no mistake - the Iraqi Dinar is a very, very risky investment even without the tricks used by dealers.

Take this trick for example: The online dealer tells you that they have a document authorizing them to sell Dinar, but if you take a good look at the document, it's simply a receipt that they filled out a form with the US government, nothing more; anyone can get this!

http://www.iraqidinar.org/iraqi-dinar-ebook.asp

Iraqi officials state that it is illegal under Iraqi Law to export Iraqi Money (the new Iraqi currency). This statement was included in a letter we recently received from a bank (we asked for iraqi money investment information) 'you can not transfer any Iraqi Money out of Iraq because it is not allowed by the regulation of Iraqi Central Bank'.

There are some major risks associated with holding Iraqi Money outside of Iraq and this page dedicated to Iraqi Money provides some information you should consider!

It's not illegal to buy Iraqi Money provided it is not removed from Iraqi, so then, how do you buy Iraqi Money and do it legally? Read the information below and for complete details, see our Dinar eBook which explains how to legally buy Iraqi Money plus avoid the markup dealer's are charging!

Over the last year, the circumstances of the war in Iraq have created the phenomenon of businesses trading in new Iraqi Money. Many of these businesses advertise or conduct business over the Internet, and suggest that Iraqi Money, much like the Kuwaiti dinar following Operation Desert Storm, will increase in value exponentially following United States military involvement in Iraq. Most investors purchase dinars from websites established particularly for selling Iraqi Money or from major auction websites.

Iraqi Currency
FinCEN has been receiving inquiries regarding the legitimacy of websites offering Iraqi Money. While it is not necessarily illegal to buy or sell Iraqi money, there are a number of risks and compliance concerns for the financial community.

For example, Iraqi officials state that it is illegal under Iraqi law to export dinars. Therefore, in addition to questions about the source of the money, and the potential for investment or securities fraud, businesses offering to sell dinars may also pose the risk of being used to fund terrorism or as a vehicle for money laundering.

FinCEN also has a particular interest in these businesses because they may be money services businesses required to comply with the Bank Secrecy Act.

Any United States entity that buys or sells currency, including Iraqi Money (dinars), in amounts of more than $1,000 U.S. to any one person in one day may be a money services business under FinCEN's regulations at 31 C.F.R. Section 103.11(uu). [Note: there have been questions about the old dinar with Hussein's picture on it. That dinar ceased to be legal tender around January 15, 2004 and thus ceased to be currency for purposes of the Bank Secrecy Act.] Money services businesses include:

Money transmitters;
Currency Dealers or Exchangers (except those who do not exchange more than $1,000 in currency or monetary or other instruments for any person on any day in one or more transactions);
Check cashers (except those who do not cash checks in an amount greater than $1,000 in currency or monetary or other instruments for any person on any day in one or more transactions);
Issuers, sellers, or redeemers of traveler's checks, money orders, or stored value (except those who do not issue, sell or redeem such instruments in an amount greater than $1,000 in currency or monetary or other instruments for or from any person on any day in one or more transactions);
Iraqi Money Dealers
Money services businesses generally are required to register with FinCEN, to establish anti-money laundering programs, and to comply with recordkeeping and reporting requirements under the Bank Secrecy Act.

Websites selling Iraqi Money frequently claim that their businesses are registered with the Department of the Treasury. These assertions are not always accurate. Further, it may be difficult to discern from the money services business registration list on FinCEN's website (www.msb.gov) whether the business is in fact registered, particularly if the business is an affiliate of, or a "doing business as" alias for, the business that is registered.

Moreover, even if the business is registered with FinCEN, that registration does not guarantee that the business is in compliance with other Bank Secrecy Act requirements or with applicable state law. For these reasons, a financial institution that conducts business with entities selling Iraqi Moneys should conduct appropriate due diligence to assure itself of the legitimacy of such entities. All financial institutions that do business with, and potential customers of, such money services businesses, are reminded that registration with FinCEN in no way authenticates either the legitimacy of a business, or the compliance of the business with any federal, state, or local laws.

New Iraqi Money
An analysis of FinCEN's Suspicious Activity Report database for filings referencing Iraqi Money indicated suspicion of the use of Internet dealers of Iraqi Money in terrorist financing, although not all of the corresponding narratives provided clear or complete justification about the terrorist financing nature of the activity reported.

This serves as a potent illustration of the critical importance of a clear and complete narrative description when filing a Suspicious Activity Report. Particularly when terrorist financing is suspected, conclusory statements with no supporting facts or justification are of limited use to law enforcement in pursuing their investigations.

Further analysis of businesses engaged in selling Iraqi Money is ongoing. For instance, FinCEN analyzed Bank Secrecy Act data (including Suspicious Activity Reports, Currency Transaction Reports, and Reports of International Transportation of Currency or Monetary Instruments) involving the purchase of Iraqi Money to support a law enforcement initiative that uncovered an elaborate network of structured money movement by and to persons suspected or convicted of substantial fraud or other illicit international activities.

Amigo, Send it to a soldier in Iraq as a christmas present.

Perfect cicerone. Except I will give them the money here and give them extra to send me an exotic gift. I can give them to Iraqi Vetrens Against the War.

Hey Amigo..

Do you dinars have a picture of Saddam on them?

See, dys, Amigo is not a moron after all; he's a kind human bean. LOL

No those are worthless.