We have been warning investors about buying into the hype surrounding the Iraqi Dinar since 2004, something that hasnt made us very popular with those selling the currency. Before the war with Iraq, Saddam decided for a very short time, that hed just increase the value of Iraqs money to where it took $3 to buy 1 dinar, and did it by proclamation. This was not recognized by the world financial market and available only to those close to Saddam but some dealers often neglect to share that fact why? Because those dealers use it to pitch the idea that by investing in Dinar now you may one day enjoy the imaginary $3 market value. This is exactly the type of hype you should be aware of.

Jay Adkisson, an Attorney writing for Forbes published an article titled You Cant Fix Stupid: The Iraqi Dinar Scam Lives:

suckers around America have their closets and garages full of bales of Dinars, just waiting for that glorious day when they will re-valuate.

Which is never.

To help sell the scam, the scam artists have set up all sorts of websites and bulletin boards and newsletter and social media and you-name-it to try to create the impression that the Dinars are valuable and are about to re-valuate at any moment. I’ve had people tell me that their Dinars are going to re-valuate “within the week” or “by the end of the month”, and they’ve been telling me for years.

The dinar itself is real and not all dealers are manipulative, its the hype and tactics used to fool you into believing this is a risk free investment guaranteed to produce that makes it a scam.

5 Stages of Iraqi Dinar Investment Hype

Stage #1, Getting You to Believe in the opportunity of a Cash Windfall

For $1 you can buy 1,166 iraqi dinar. The pitch is that Iraqs currency will soon be revalued and that if you spend $1,200 now and buy a Million Dinar (the cost of dinar with fees, shipping and markup included), that Dinar will actually be worth more than a Million U.S. Dollars in the not so distant future.

Pitch: If the dinar goes back to the $3 value, your million Dinar will be worth 3 Million US dollars; heck, even if it goes to 50 cents, youll have a half million, and all for only $1,200 now!

That pipe dream quickly vanishes when you realize the market never experienced such rates and that even today, the value of dinar compared to five years ago (1166 vs 1170) is almost the same. The second you purchased dinar, youve already lost money from dealer mark-up, shipping fees and other hidden costs.

Other investment pitches used include:

• Iraq is going to stabilize and the value of the Dinar is going to rapidly increase (that statement was made almost 10 years ago).
• The US has purchased an incredible amount of Iraqs currency and wont let it go down (even though the U.S. Government has said this is a lie).
• Donald Trump has invested heavily in this currency and you should also.
• Warren Buffett has secretly purchased this currency in large quantities.
• Iraq is rich with oil and therefor the value of the dinar must increase over time (attempting to get you to think that oil will increase the value of Dinar)
• The Bible says those that hold dinar will be rich one day (it also says that a fool and his money are soon parted).
• Purchases can be refunded (but youre never told about time limits, refund fees and other hidden gotchas).
• Don’t expect profit in millions but instead think thousands. So what if you lose out on a few hundred bucks, big deal (trick to minimize your concern by making you think youll make thousands!)
• Its no different than buying stocks (attempt to legitimize the unregulated dinar trade business by making you think its no different than investing in the regulated stock market).
• Good things come to those who wait (a dealers favorite phrase because as years pass and you claim youve been scammed, the dealer can claim youre being impatient and need to wait a bit longer).

Stage #2, Getting you to believe Crowds of People have made an Iraqi Dinar Investment

Once youre sold on the idea of a large windfall, the next trick is to get you to believe everyone is investing in the dinar and making a fortune. This is done by setting up hundreds of unbranded websites along with supporting forum posts using aliases, all pointing to the dealer; this way, that dealer tricks you into believing people are excited about the investment and buying it from a trusted business.

Search engines such as Google may also be deceived into thinking that all these websites pointing to the dealer are an indication of the dealers popularity and should therefor move that dealers website to the first page of search results. If the dealer is lucky, Google will also move their unbranded websites to the first page of results as well, making it so that no matter what website you select, it eventually takes you to the dealer.

These tactics are forbidden by Google but if the dealer can get away with it, it could eliminate their competition and any websites cautioning people about investing in this currency by pushing them off the first page of search results (not many people click to the second page).

Stage #3, Dealer creates Unbranded Review Websites to sell you on their Iraqi Dinar Investment Opportunity

Once you think youve decided on a dealer, chances are youll search the internet looking for a review just to make sure. Some dealers will set up their own review website, use the same tactics to fool Google into ranking it high in the search results, and recommend their own product; because the review website is unbranded, the unsuspecting investor has no idea its a biased review and is manipulated into visiting the dealers website.

Dealers pay affiliates a lot of money in commissions to push you to buy currency from their website it can be hard to tell an honest review from one owned by the dealer. Before you trust any website, do your own research and make sure youre not being taken advantage of!

Stage #4, Convincing you the Dealer is approved by the Federal Government to offer Iraqi Dinar Investments

Once you visit the dealers website, they may proudly display an MSB Registration; dont be impressed

The reason dealers seek this registration is to lend legitimacy to their scam and avoid more stringent regulation.

That quote comes directly from the Washington State Department of Financial Institutions Consumer Alert about Iraqi Dinar Scams. In that alert, they explain how dealers register themselves with the U.S. Treasury as a Money Services Business (MSB) and then use that to give you the impression they are vetted by the Federal Government; that registration is nothing more than an anti-money laundering form they must file.

Stage #5, An Investment Opportunity with a Guarantee of Wealth

In the end, you have no idea youve been manipulated through the entire process and believe you are buying iraqi dinar that is guaranteed to make you rich. With easy payment plans and the dream of millions firmly planted in your mind, its only a matter of how much they can get you to spend.

Even if you dont have enough money to buy what you would like now, you might be offered a layaway or option to buy. It goes like this For a fee, you can reserve an amount of dinar now so that you have time to pay later if during that time there is an iraqi dinar revaluation, you have the option to buy the dinar for the price it was when you bought the option. Chances are that once youve purchased the option and no longer feel that false sense of urgency, youll do more research and end up not following through; youll lose your option fees while the dealer pockets your hard earned cash.

Use Caution if Youre going to Buy Iraqi Dinar

For a decade now, the promise of an impending revaluation has been used by many dealers to entice people to purchase large quantities of Iraqs currency. The revaluation never happened and even after all that time, 1,166 dinar is only worth a dollar!

Over 5 years ago (Jan 18 of 2009) 1,170 Iraqi Dinar was only worth $1 US dollar. compare that to September 2014s rate of 1,166 dinar per $1 US dollar and you can clearly see this has been a poor investment!

Put another way, over 5 years, the dinar has only increased .00343053173 cent and yet some dealers are referring to this as an opportunity of a lifetime? Truth is, the dealers are the only ones making money from the dinar, some as much as 20 Million Dollars per MONTH selling this currency!

What Most Dealers dont tell you!

When I first heard about the Iraqi Dinar, I was skeptical and at the same time felt that I could be onto something big! If Iraqs money increased enough in value, I could make a Million! I felt a sense of urgency to buy before I missed my window of opportunity.

I set out to find as much information as I could and within no time at all, I was overwhelmed with tons of sites and forum users all as excited as I was little did I know that most of the sites and forum users were really only a few dealers creating the perception of an excited crowd. With my false sense of urgency nagging at me, I decided to dive in and buy 250,000 Iraqi Dinar. At the time I thought it was a great price, but later discovered I paid way too much. In fact, I should have never bought that money in the first place!

If you feel rushed to get in on Iraqs new money, then review this site first THERE IS NO RUSH. .

How much Iraqi Dinar should you buy?

Personally, I would not spend 1 cent on dinar wait, I should say dinars, not dinar right? Because If I spend a cent, Im able to buy 11 dinars

Youll find prices ranging from $680 to $1,500 for 1 million IQD. Why the broad range in price? Some sellers dont include shipping costs or insurance while others charge extra depending on the denomination of bills you select or just like a big markup!

Exactly how much you should spend is up to you, but if you must invest, do so understanding that Iraqi Dinar is extremely risky and has repeatedly failed to deliver on the promise of great wealth. Forbes has been warning people for years with the latest warning titled The Dinars Dismal Future: Sell Now Forbes

If you are still excited, its probably because of a friend, family member or trusted acquaintance. Most likely, they bought into the idea of great wealth from investing in Dinar believing the tale of a time when the market value of 1 dinar was worth $3, or that Iraq is rich with oil and guarantees an increase in currency value, or worst of all, that the bible prophesied that people who buy dinar will be rich one day.

Iraqi Dinar Investment Fact or Fiction? Investors, Google and Government Agencies all Fooled.

Its a loophole in the system that allows a dealer to manipulate people using these combined techniques, a loophole the government hasnt caught on to yet because of its level of sophistication. Without any question, this is a thriving industry where some dealers are making millions of dollars while innocent people are losing their hard earned money having fallen for misleading hype.

As I mentioned before, the Iraqi Dinar itself is not a scam, its the misleading hype used to sell you on the dinar that makes it a scam.

Oklahoma residents have been offered unsubstantiated claims for extraordinary returns on Iraqi Dinar investments. High pressure sales techniques are used when offering the investment including stating this is a time sensitive investment that requires immediate action. The majority of these investments result in the Oklahoma investor’s complete loss of principal.

The Utah Division of Securities estimates that Utahns lose over $50 million a year in investment scams, such as the Iraqi Currency Scam where advertisements in local newspapers promise great wealth by purchasing the new Iraqi dinar. Promoters explain that as democracy comes to Iraq, the expected peace will stimulate the Iraqi economy and the value of the dinar. What investors are not told is that…

Unfortunately, the likelihood of investors seeing any return on their dinars is slim to none. This scam comes in three parts: the hyped returns that play on an investors greed, the deceptive practices of Iraqi Dinar dealers, and the fundamental misunderstanding of international finance

Investors need to understand these figures for what they are: speculation and hype. Websites selling dinars also exaggerate or misrepresent history as proof that such profits are possible, but history teaches a vastly different lesson.

Circumstances of the war in Iraq have created the phenomenon of businesses trading in new Iraqi dinars. Many of these businesses advertise or conduct business over the Internet, and suggest that the Iraqi dinar, much like the Kuwaiti dinar will increase in value exponentially

There are a ton of investment pitches used, WHNT News 19 video called Iraqi Dinar Investment: Fact or Fiction? covers many of them.

NDA WARNING! If you are asked to sign a Non Disclosure Agreement (NDA) preventing you from talking about what you purchased and how much you paid for it, then STEP BACK and rethink. If you are scammed, such an agreement may prevent you from talking about it. Dont give up your right to free speech THERE IS NO RUSH and you SHOULD NOT HAVE to SIGN an NDA!

NOTE: NDAs can NOT prevent you from communicating with authorities (something dealers wont point out) .

Colorado Banking and Securities Commissioner Fred Joseph said:

Unsuspecting investors can be lured into these schemes, especially if the returns sound good. These offerings require careful research and a strong reminder that if it sounds too good to be true, it probably is not true, nor will it be profitable to anyone but the promoter.

Here is CNBC talking about BH Group, just one of the many iraqi dinar dealers:

Moral of the story: Careful about buying into the hype surrounding Iraqs currency (IQD) and make sure you consult a financial adviser BEFORE you convert your retirement to dinar (yes, some people actually do that!).

Here are a few laws that make it illegal for dealers to trick you into buying dinar which you could mention or refer to when filling out the form above:

• The FTC Act prohibits unfair or deceptive advertising in any medium. That is, advertising must tell the truth and not mislead consumers (can’t say that the dinar will increase or it’s a great investment).
• Title 15 of the federal statutory law, the United States Code, protects consumers from deceptive and unfair acts or practices stating that a representation, omission or practice is deceptive if it is likely to mislead consumers and affect consumers’ behavior or decisions about the product or service (such as the Dinar)
• Chapter 2A of Title 15 §77q(a) says it’s unlawful to sell a security (such as iraqi dinar) and obtain money by means of any untrue statement and Chapter 2D provides for prohibited practices by unregistered investment companies and advisors.

How to Report Suspected Fraud

If you purchased Iraqi Dinar based on misleading information from a dealer (such as getting you to believe in incredible returns or making guarantees about its performance, then fill out this simple Cyber Crime Form with the amount of money you spent and IC3 will do the rest. The IC3 is a partnership between the Federal Bureau of Investigation (FBI) and the National White Collar Crime Center (NW3C).

Note: Personal information you submit to the FBI and White Collar Crime Center will be kept confidential unless you choose otherwise.

Are People Profiting from Investing in Dinar?

The truth is, the only people becoming wealthy from dinar are the dealers selling it. If you need more convincing then do yourself a favor and read the rest of this website. If not and Ive saved you money, then please consider donating a small portion to this great cause.