Iraqi Dinar. Invest Or Not?

[lukey1979]

Hi everybody.

To cut a long story short Im over in Iraq at the moment and i have managed to locate a bank (Warka Bank) That i can open a savings account with. Online and phone banking, wire transfers etc. Looks pretty cosher I have around $8500 approx 10 million Dinar which i can deposit and afford to lose in the long run. I fully realise that for a risky investment like this to flourish it could take upto 15 years. Lot's of people are saying Do it and lots of people are saying don't. Im off to the bank in the morning to open my account any prompt advice will be heeded and gratefully accepted.

Cheers.

Luke.

[wasabi]

I think the fact you are right in Iraq makes it less risky though still very risky. If you truly could live without the money and are a gamblin man I say go for it.

[lukey1979]

Cheers mate.

Opened the account this morning interest is 11% on the savings account and its quite simple to covert the dinars back into a dollar account and then wire the money back out if all goe's belly up. Looking good at the moment but will be fingers crossed for a long time i think.

[Edonista]

Cheers mate.

Opened the account this morning interest is 11% on the savings account and its quite simple to covert the dinars back into a dollar account and then wire the money back out if all goe's belly up. Looking good at the moment but will be fingers crossed for a long time i think.

Can't you get something more making fixed deposits or buying Iraq Treasury Bills/Bonds ?

[binnsy]

Cheers mate.

Opened the account this morning interest is 11% on the savings account and its quite simple to covert the dinars back into a dollar account and then wire the money back out if all goe's belly up. Looking good at the moment but will be fingers crossed for a long time i think.

Can't you get something more making fixed deposits or buying Iraq Treasury Bills/Bonds ?

better than Zimbabwen Dollar !!!!!!!!!! just