Investing in currency is more secure than the stock market, so why would you risk investing in Iraqi Dinars? This article will tell you why investing in currency is safer than investing in the stock market. Although gurus may claim to be registered to sell Iraqi Dinars, their sales pitches are based on hypothetical values. As such, you should never invest in these products without checking out their track record.
Investing in currency is safer than investing in the stock market
One of the most common questions when it comes to investment is: Which is safer, the stock market or currency markets? Because of the wide range of securities and investments available, determining the safest is nearly impossible. There are, however, some categories that are significantly safer than others. These include money market accounts, municipal bonds, and Treasury Inflation-Protected Securities. Below, we will discuss the most common categories of investment, and why they are considered safer than others.
Scammers claim to be registered to sell Iraqi Dinars
While selling hard currency for numismatic value is perfectly legal, you should be wary of scammers who claim to be registered to sell Iraqi Dinar. While selling hard currency for numismatic value is completely legal, some dealers register as “Money Service Businesses” with the U.S. Treasury. While there are numerous scams involving hard currency, these are only a few of the most common.
They give hypothetical values
The typical Dinar Guru scam entails a marketer or agent connecting investors to an Iraqi dinar exchange. The scammer promises investors high returns on their investment, presenting current exchange rates and postulating future value of the IQD. For example, an investor who invested a thousand dollars at the current exchange rate would receive one million IQD in the future. Unfortunately, this is not what is happening in the world today.
They don’t have a track record
While it’s hard to find a legitimate company with a long track record of scamming investors, the Dinar Guru is one such company. Tony Dunn spent most of his professional career selling shady MLM opportunities, and then he went into financial advisory services by offering investors his dinar currency. The foreign exchange rate plummeted after the US-led coalition invaded Iraq in 2003.
They are delusional suckers
The majority of scammers hawking the Dinar are purely delusional. They have never purchased a single Dinar themselves, and their bogus statements are merely a way to deceive victims into believing that they will soon become rich. In fact, the majority of the “dinar guru” scammers are delusional suckers who will not even be around to report their scams. Nevertheless, the “gurus” will keep sending out their latest “updates” about how Dinars will increase in value.