Monday, June 18, 2012

Will Iraq Dinar RV for 2012

For the past few weeks, many people keep on coming into my blog that related to the question, "Will Iraq Dinar RV for 2012?" I want to stop talking about Iraqi Dinar investment because it will only bring haters and frustrated Dinar Investors coming in my blog. It will be a waste of time explaining to them why Iraq Dinar investment is a scam. But I do think it is my social responsibility to alert people who are not yet paying money to this worthless investment not to fall into the dinar seller trap. They will be saying anything to get a trust from you. In Malaysia, they're saying that Malaysia Central Bank (BNM) also buying Dinar Iraq and prepare for Iraq Dinar RV. That is why BNM Official Facebook has been asked about Iraq Dinar so many times, you can read it in here; BNM don't buy Dinar Iraq.

Picture by AFP: Iraq Dinar Trader

If you're wondering why I talk about Iraq dinar, you can read my old post about it; should I invest in Iraq Dinar. I had been talking about this currency scam since 2010. Every years what I heard from the dinar sellers are almost the same thing, "RV will happen" on that particular year. That same thing has been going on since I follow Iraq Dinar news closely. They're also saying that Iraq Dinar RV can happen because Iraq oil reserve is the second largest in the world and when Iraq economy booming, their Dinar will be revalue like what happened to Kuwait RV. If you don't know what RV mean, you can read my post; Iraq Dinar RV?

If you search Google trends ( for "Iraq Dinar", "Dinar RV", Malaysian top the list for people searching about it. Many Dinar investor in Malaysia also saying that this is the best time to but Iraq Dinar since many people who don't believe that RV can happen are selling their dinar at a very cheap price. They're not telling you that the real people who can get profit from it are exactly the sellers. They're not telling you that Iraq has over 30 trillion Iraqi dinars in circulation. They're not telling you that many 10,000 Dinar banknotes in the market are fakes. I don't want to talk much about this, you can read my old post about Dinar investment.

Some people say that I am not a reputable people who should talk about Iraq Dinar. In this post I am sharing some reputable news source that talk about Iraq Dinar investment such as Forbes and Reuters. Will add other reputable source next time I find them. Blogs and Forum normally only give personal view and misinformation, especially if it is for dinar investor (unless you just want to read all the good news about Iraq Dinar). Here are some of the news about Iraq Dinar from reputable news source:

Forbes blog-Dinar doubts multiply
by John Wasik, investments, financial planning and personal ecology writer.

Here’s Barry Kaplan, a respected fee-only financial planner with Cambridge Southern in the Atlanta area, who talked to a local bank (which wished to remain anonymous) and heard this:
“This bank is getting calls every week from people who want to open accounts at their bank [which doesn't buy dinars]. They even confided in me that two widowed clients have paid dealers $10,000 each and are waiting for their dinars to arrive so they can convert them to $1 million. They get calls every week. Yesterday alone, they got three calls. The callers want to open accounts with zero balances waiting for millions to come in. The bank is no longer opening zero-balance accounts; they got tired of doing it over and over. They now tell these people that this dinar conversion probably won’t work, but they will be glad to open an account for them if and when they get the money. To date, none of these zero-balance accounts that they opened in the past have been funded. The bankers think that these people have paid up to six figures for the dinars (but they have no proof). This is because some of these people are calling expecting not just millions, but tens of millions.”

Reuters-Cabinet says stops plans to redenominate dinar "until further notice"
Iraq has decided to hold off on a plan to knock three zeros off the nominal value of bank notes of its currency because it does not believe the economic climate is suitable, the cabinet secretary said on Thursday. The central bank said last August it planned to redenominate the Iraqi dinar to simplify financial transactions in an economy that is still heavily centralised and dominated by oil, and where deals are often carried out in cash. The proposal to restructure the dinar to bring more liquidity into the market has been awaiting parliamentary approval since last year. On Thursday, a statement on the website of the cabinet secretary said the cabinet had decided to halt all procedures relating to the redenomination of the dinar "until further notice".

AFP-Iraqi dinar casualty of Iran, Syria sanctions
Iraq has seen its currency fall against the dollar despite taking in billions per month in oil revenues, at least in part due to the demand for dollars of its sanctions-hit neighbours Iran and Syria. After being stable at around 1,160 per US dollar for years, the Iraqi dinar was exchanging hands at a rate of 1,230 last week and 1,320 on Tuesday, before settling at 1,270 against the greenback on Wednesday. Syria has been sanctioned over its deadly 13-month crackdown on dissent, while Iran has been hit with punitive measures over its suspect nuclear programme, leaving both countries in need of foreign currency, especially dollars. From the beginning of 2012, "there was a currency attack," with an increase of between 40 and 50 percent in demand for dollars, Iraqi central bank governor Sinan al-Shabibi told AFP.

Harian Metro-Jutawan Dinar Iraq
Bermodalkan pelaburan awal sebanyak RM3,200 untuk memperoleh sejuta dinar Iraq iaitu mata wang baharu Iraq, pelabur mampu mendapat RM1 juta sebaik nilai mata wang itu dijangka diapungkan (RV) hujung tahun ini. Inilah trend terbaru penjual mata wang dinar Iraq bagi menarik pelabur membeli mata wang berkenaan yang dikatakan memberi keuntungan dalam sekelip mata. Wang berkenaan kini tiada nilai kerana baharu dicetak bagi menggantikan mata wang lama. Penjual mata wang itu turut mendakwa mereka memperoleh wang berkenaan dari Jordan yang dibawa masuk melalui Lapangan Terbang Antarabangsa Kuala Lumpur (KLIA) dan diluluskan pihak berkuasa Malaysia. Difahamkan, pelabur yang menyimpan, membeli atau menjual ketika RV diumumkan, nilai mata wang Dinar Iraq yang pada asalnya tidak bernilai akan bertukar menjadi mata wang utama dunia, sekali gus menjadikan pemiliknya bergelar jutawan segera.