Despite warnings from authorities, the craze to buy Iraqi Dinars continues. A report in the Iraq Business News files on Jan 1 2014 stated that "a federal grand indicted three men from the Toledo area for their roles in the operation of a $23 million fraud scheme involving the sale of Iraqi dinar currency".
What is it with these guys? They keep on coming and posting zealous articles in the social media
,Reuter reports, there are limited avenues where you can buy Iraqi dinars and should you change your mind dealers will only buy back dinars at a 30% discount.
This is not a liquid market.
CNBC columnist
Kelley Holland says the dinar is the subject of a variety of scams, and regulators and watchdogs are sounding alarms:
“If someone has been telling you about the rosy prospects for the dinar, please, please, be careful. It’s almost certainly too good a story to be true.”
And still they continue to swirl around ..heated exchanges
take place on social websites intimating that the negative naysayers will be proved wrong and they'll be "laughing on the other side of their face"' whatever that expression means.
There's even a website in Australia promising delivery of dinars to your doorstep!
This craze and fervour appeals as much as an outdoor café in a hurricane.
Oh, boy!
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Investors waiting patiently |