The inevitable collapse of the dollar

[Wavels]

OMG,

I can't believe that those are med posts above^^^!
I find myself agreeing with med regarding investments!

I feel queasy!



So has the dinar, up 10% against the dollar this year. Now the dollar, admittedly, is no monetary fortress, and the dinar is one of the few Middle Eastern currencies left free by its issuing government to float in value (the exchange rates of most of the region's scrip are lashed to the dollar). The price of a barrel of oil, of which Iraq is a leading producer, has had a pretty good year itself. Still, during the 2007 New Year prediction season, how many guessed that the dinar would outperform the communist Chinese renminbi (up 6.3%) or the Russian ruble (up 6.8%)? The name of no such monetary prophet jumps to mind.
from;The Other Iraq Surge - December 27, 2007 - The New York Sun

 

[medicineman]

OMG,

I can't believe that those are med posts above^^^!
I find myself agreeing with med regarding investments!

I feel queasy!



So has the dinar, up 10% against the dollar this year. Now the dollar, admittedly, is no monetary fortress, and the dinar is one of the few Middle Eastern currencies left free by its issuing government to float in value (the exchange rates of most of the region's scrip are lashed to the dollar). The price of a barrel of oil, of which Iraq is a leading producer, has had a pretty good year itself. Still, during the 2007 New Year prediction season, how many guessed that the dinar would outperform the communist Chinese renminbi (up 6.3%) or the Russian ruble (up 6.8%)? The name of no such monetary prophet jumps to mind.
from;The Other Iraq Surge - December 27, 2007 - The New York Sun

Look, the Dinar investment is a long shot, But like you said, up 10% this year. Somewhere after 10 years at this rate, I should be in the chips. Unfortunately, I probably will be too old to enjoy the fruit, but my grandkids will get a piece, so probably, if I'm lucky, this is an investment for them. and as I've said, this is no endorsement. Invest at your own risk. If you've got a grand lying around gathering dust, slipping into oblivion, why not.

 

[medicineman]

Buy dinars? Buy uncirculated sets of Topps baseball cards. They are a much safer "investment" than a goofy denaro of a sand empire.

Have you forgotten the billions+++ barrels of oil in the Iraqi reserves, sand empire my ass, they could buy and sell us at $100+ a barrel

 

[mockingbird131313]

Uh, that would be keeping your investments, liquid?

Good luck. Keep us posted. This is interesting. Seriously. Please, don't bet the trailer payment on this one, friend. But, it might work out.

 

[Wavels]

Please, don't bet the trailer payment on this one, friend. But, it might work out.

LOL, Hahahaa! Great point mockingbird!

Med, this, as you seem to realize, is a highly speculative investment. Please do not put a significant amount of your "lying around" money into this.
Professional traders frequently get killed in currency speculation.

I would strongly advise some type of a hedge position to offset some of the risk....for example you could buy some shares of a gold or precious metal mutual fund.

Seriously med!

 

[threatlevelorange]

LOL, Hahahaa! Great point mockingbird!

Med, this, as you seem to realize, is a highly speculative investment. Please do not put a significant amount of your "lying around" money into this.
Professional traders frequently get killed in currency speculation.

I would strongly advise some type of a hedge position to offset some of the risk....for example you could buy some shares of a gold or precious metal mutual fund.

Seriously med!

I see where Marx is coming from. In the socialist government that he endorses, it wouldn't make a difference if he made alot because over 95% of his profits would be confiscated by the government. It makes sense. You could make $400/year with low risk and keep $15 of it...or you could take a chance at earning $1,000,000/year and keep $10,000 of it. So you basically give up the almost guarranteed $15/year for a shot at $10,000


......shich to me, is better than Vegas odds for sure.

Then again under a socialist government you could sit around and do nothing and STILL have your $15/year...and then add like $7k/year to that for some made up mental disease.

 

[medicineman]

Uh, that would be keeping your investments, liquid?

Good luck. Keep us posted. This is interesting. Seriously. Please, don't bet the trailer payment on this one, friend. But, it might work out.

Trailer payment,~LOL~, you are hillarious. Have you ever considered writing for late night TV? They're looking for a few good men.

 

[mockingbird131313]

Trailer payment,~LOL~, you are hillarious. Have you ever considered writing for late night TV? They're looking for a few good men.

I tried getting a shot at PBS, but they said I did not have what they were looking for. So, I'm practicing on youse guys.

 

[threatlevelorange]

I tried getting a shot at PBS, but they said I did not have what they were looking for. So, I'm practicing on youse guys.

Hahahha! Classic!