I have $3,000. Save? Invest? Buy some land on the moon?

[Kipper]

Originally posted by: CheapArse

Originally posted by: brtspears2
How about become a millionare....Iraqi millionare that is. I guess the idea is that if their economy picks up, you can be up big time.
http://www.dinarmerchant.com/

I've thought about this...eventually the value will increase...profit!

...or the currency could inflate at the double-digit level like nations in South America, making it virtually worthless.

 

[Evadman]

Originally posted by: MadCowDisease
...or the currency could inflate at the double-digit level like nations in South America, making it virtually worthless.

Deutchmarks used to be good for heat when burned in your fireplace.

 

[imported_Mike]

Originally posted by: MadCowDisease

Originally posted by: CheapArse

Originally posted by: brtspears2
How about become a millionare....Iraqi millionare that is. I guess the idea is that if their economy picks up, you can be up big time.
http://www.dinarmerchant.com/

I've thought about this...eventually the value will increase...profit!

...or the currency could inflate at the double-digit level like nations in South America, making it virtually worthless.

..but they're not controlled(or trying to be controlled ) by the US military. Of course there is risk, but your talking about $500-$1000 to obtain 500,000-1,000,000 dinars...the more important question is will the risk pay off...which is the unkown.

 

[imported_Mike]

Reading a few articles...most "experts" view buying dinar as pure gambling..

 

[OS]

Originally posted by: brtspears2
How about become a millionare....Iraqi millionare that is. I guess the idea is that if their economy picks up, you can be up big time.
http://www.dinarmerchant.com/

Buying Iraqi dinars is a terrible idea. It's probably going to be years before they achieve any sort of good stability if at all, and in the meantime you're giving the unproven Iraqi government an interest free loan. Don't even mention if the Iraqi currency/financial system/government ultimately collapses and dinars become worthless.

Some guy at my work half a year ago was peddling dinars at 1000 to one US dollar. Based on that website, I see the price has fallen to 1000 to .95. The guy tried to pass it off like he was doing me a favor, but I resisted. The best part is that doesn't even take into consideration that the dollar has depreciated in the same timeframe.

 

[t3hmuffinman]

Originally posted by: OS
Buying Iraqi dinars is a terrible idea.

HAHAHA! at first I didn't read any of the posts and was just skimming, and i thought you guys were talking about some joke site about donating food to iraqis... (mmm dinnar/er)

 

[upsciLLion]

Originally posted by: CheapArse
Reading a few articles...most "experts" view buying dinar as pure gambling..

So is getting out of bed each morning.

 

[imported_Mike]

Originally posted by: OS

Originally posted by: brtspears2
How about become a millionare....Iraqi millionare that is. I guess the idea is that if their economy picks up, you can be up big time.
http://www.dinarmerchant.com/

Buying Iraqi dinars is a terrible idea. It's probably going to be years before they achieve any sort of good stability if at all, and in the meantime you're giving the unproven Iraqi government an interest free loan. Don't even mention if the Iraqi currency/financial system/government ultimately collapses and dinars become worthless.

Some guy at my work half a year ago was peddling dinars at 1000 to one US dollar. Based on that website, I see the price has fallen to 1000 to .95. The guy tried to pass it off like he was doing me a favor, but I resisted. The best part is that doesn't even take into consideration that the dollar has depreciated in the same timeframe.

Q, would you rather put $500 into dinar or $500 into the slots though? If you're not into gambling at all, that is fine...but obviously, dinar shouldn't be an investment that one should expect a return on.

 

[drnickriviera]

Average annualized returns suck!
You invest $10,000 over 3 years, you make 10%, loose 20%, make 10%. You should be at 0% right? Nope you're at a 3.2% loss.

For some mutuals, it's like pulling teeth to get the yearly returns. They always average 1,3,5,10 years. I don't think I've ever seen a mutual list compounded returns.

But hey, i'm no financial expert. This just seems to me like they are cheating.

 

[axnff]

Originally posted by: Evadman
That happens to be the max amount you can put into a Roth IRA. Conicidence? I think not!

Actually, now you can do up to $4k ($4500 if 50 or older by Jan 1, 2006).

Any growth in it will be tax-free as long as you wait until you're qualified (wait until you're 59 1/2). Plus, you can have access to your contributions tax- and penalty-free at any time after the first 3 years....

Of course, you still have to figure how you'll invest it...