How Much Would You Bet on the new Iraqi Government?

[rikzilla]

Check this out. It does not appear to be a scam. It also does not rise to the level of an investment at this point; simply put it's a bet and says so.

So, would you bet any $ on the survival of a democratic Iraq?? I'm thinking of doing it with some small amount just as a curiosity and to see if the site is honest.

So, who are we?
We are freedom loving Americans that believe a liberated, resource rich Iraq can become a force in the world economy. We believe the efforts of the coalition are noble, and will be effective.

We are not professional financial consultants or Wall Street gurus. We can't predict the future or offer any investment advice.

But we will bet on Iraq.

So, what do you guys think? The only part of this bet making that gives me an oogy feeling is the thought that this might be a scam of some kind...

-z

 

[Mark]

Check this out. It does not appear to be a scam. It also does not rise to the level of an investment at this point; simply put it's a bet and says so.

So, would you bet any $ on the survival of a democratic Iraq?? I'm thinking of doing it with some small amount just as a curiosity and to see if the site is honest.


So, what do you guys think? The only part of this bet making that gives me an oogy feeling is the thought that this might be a scam of some kind...

-z

Let's see...in the entire mid-east there is not one genuinely democratic Arab government. How would I bet? Hmmm...

 

[Anti_Hypeman]

We have already bet a trillion dollars on it.

 

[rikzilla]

Let's see...in the entire mid-east there is not one genuinely democratic Arab government. How would I bet? Hmmm...

Does this mean that you think Arabs are incapable of forming a democratic government? If so I'd remind you that much the same was said about the Japanese post WWII. It's a faintly racist notion Mark...and I know you're not one of those.

-z

 

[rikzilla]

We have already bet a trillion dollars on it.

You're saying we've already spent $10^12 in Iraq?? One thousand billion? Can you tell me how you got that number? (I mean besides pulling it from your rectal orafice that is...)

-z

 

[Mark]

Does this mean that you think Arabs are incapable of forming a democratic government? If so I'd remind you that much the same was said about the Japanese post WWII. It's a faintly racist notion Mark...and I know you're not one of those.

-z

Don't put words in my mouth, Rik...especially words with which I strongly disagree. It pisses me off a lot.

The Arab culture does not seem to be interested in Democracy; that's all I meant. Keep your racist accusations to yourself.

You owe me an apology.

 

[Anti_Hypeman]

You're saying we've already spent $10^12 in Iraq?? One thousand billion? Can you tell me how you got that number? (I mean besides pulling it from your rectal orafice that is...)

-z

Dont put words in my rectal orafice.

You owe me an apology

 

[rikzilla]

Don't put words in my mouth, Rik...especially words with which I strongly disagree. It pisses me off a lot.

The Arab culture does not seem to be interested in Democracy; that's all I meant. Keep your racist accusations to yourself.

You owe me an apology.

Please quote that portion of my comentary which made a racist accusation against you. In fact I took great pains to spell out the fact that I don't think you are a racist.

That said, there is a school of thought that would describe your original comment to be the soft racism of low expectations. Liberals are prone to this. I have nothing to apologise to you for and would appreciate it if you would please report my post so that an uninvolved 3rd party might pass judgement on it. If I have been judged by a JREF mod as having called you such a thing then I will indeed apologise.

-z

 

[rikzilla]

Dont put words in my rectal orafice.

You owe me an apology

Ouch!! Damn man I'm sorry!
-z

 

[Mark]

Please quote that portion of my comentary which made a racist accusation against you. In fact I took great pains to spell out the fact that I don't think you are a racist.

That said, there is a school of thought that would describe your original comment to be the soft racism of low expectations. Liberals are prone to this. I have nothing to apologise to you for and would appreciate it if you would please report my post so that an uninvolved 3rd party might pass judgement on it. If I have been judged by a JREF mod as having called you such a thing then I will indeed apologise.

-z

It's between you and me; I have no desire to report it.

your "liberals are prone to it" comment was just dumb. Both sides do it.

 

[rikzilla]

It's between you and me; I have no desire to report it.

your "liberals are prone to it" comment was just dumb. Both sides do it.

Then I consider it a derailing non-issue and we'll drop it. So, I know what you think about putting money on Iraq, but do you think the website and the deal it proposes is legit?

-z

 

[Mark]

Then I consider it a derailing non-issue and we'll drop it. So, I know what you think about putting money on Iraq, but do you think the website and the deal it proposes is legit?

-z

I couldn't say if it is a scam or not. But I do know that---if it is legit---I would be concerned that it is violating some obscure US law before I spent any money on it. I'd also want to check with the FTC.

If it all checked out, I would actually be tempted with a small investment.

 

[punchdrunk]

So, what do you guys think? The only part of this bet making that gives me an oogy feeling is the thought that this might be a scam of some kind...

-z

Checked out the site. How do you think they get access to "crisp, uncirculated" Iraqi banknotes?

 

[Manny]

Good Ed those markups are huge. Take the offer to sell you 50,000 dinars for USD 80. At the current spot rate USD 80 should buy you 117,800 dinars. Figure the same rip-off rate on the return trip and the dinar would have to more than triple before you saw a return. I'm all for betting on a successful Iraq, but this is like betting on a successful New York by buying the Brooklyn Bridge.

 

[rikzilla]

Checked out the site. How do you think they get access to "crisp, uncirculated" Iraqi banknotes?

Not sure, but as you can see on the site the currency does look like it's been printed at a modern facility with all the most recent security technology incorporated. It looks like someone spent a great deal to insure that this currency is not suseptible to forgery. Maybe we're printing it here?? Could be.

My co-workers seem to think Rummy is printing the stuff in the basement of the Pentagon...

Seriously though; it looks like a better bet than hurrying down to the local liquor store for a PowerBall ticket.

-z

 

[Manny]

Oh, forgot to mention: Betting on a country's currency is not always necessarily betting on its success. One of the growing pains rapidly developing economies frequently experience is asset inflation and the weakening currency which comes with it.

 

[rikzilla]

Good Ed those markups are huge. Take the offer to sell you 50,000 dinars for USD 80. At the current spot rate USD 80 should buy you 117,800 dinars. Figure the same rip-off rate on the return trip and the dinar would have to more than triple before you saw a return. I'm all for betting on a successful Iraq, but this is like betting on a successful New York by buying the Brooklyn Bridge.

So I take it you'd rather take your gambling funds to TAM4? I thought there'd be a serious mark-up, but since I don't know how to find a true exchange rate couldn't see it. So, how did you find the "spot rate" of the dinar anyway?

-z

 

[Manny]

Heh. I got it off my Bloomberg, but the Iraqi Central Bank publishes rates.

 

[rikzilla]

Heh. I got it off my Bloomberg, but the Iraqi Central Bank publishes rates.

Thanks man! Wow...those guys are taking someones (not mine!) $80 and buying 117,840 dinar; of which they are sending the mark 50,000 dinar and they are pocketing 67,840 dinar on every such transaction!!! Hell, tha mark is betting on Iraq in a crooked game...these guys aren't betting at all...they're cashing in!!

Man, I sure am glad I know you guys! It sure does save $$ to be a skeptic!

Thanks!
-z

 

[Kerberos]

Thanks man! Wow...those guys are taking someones (not mine!) $80 and buying 117,840 dinar; of which they are sending the mark 50,000 dinar and they are pocketing 67,840 dinar on every such transaction!!! Hell, tha mark is betting on Iraq in a crooked game...these guys aren't betting at all...they're cashing in!!

Man, I sure am glad I know you guys! It sure does save $$ to be a skeptic!

Thanks!
-z

Of course if you want you can probably buy Dinars through your bank for a rate which will be closer to 0,5 % than to 50%.