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The Investment Scam That Refuses to Die

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When a sales pitch begins with, "I'd like to explain to you why the Iraqi Dinar is not a scam," it's...a scam.

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Although Fazil Nabi, Iraq's deputy finance minister, told Iraq Business News that "eliminating zeros from Iraq's currency will not increase the value of Iraqi Dinars," government spokesman Ali al-Dabbagh said "removal of the zeros was purely cosmetic," and Iraqi MP Shorsh Haji explained that "the benefit would be more in appearance," Jan reassuringly explained that all Dinar "investors" would "receive a Certificate of Authenticity with every order."

Analyst John Jagerson, the co-founder of PFX Global and Learning Markets and co-author of the book Profiting with Forex, has sounded alarms about Iraqi Dinar scams for years.

His take on TampaDinar's rosy outlook?

"Complete bulls**t (pardon my French)," Jagerson wrote in an email.

"Most of the comments are actually just lies, not even outrageous opinions," he continued. "I am actually very surprised that you got these responses. The bigger dealers won't make those comments -- instead they partner with marketing guys who make the claims and then just advertise with them. The other thing that surprises me is that they would make comments about the IQD as an investment to an individual. That is totally illegal. You have to have a license to make comments like that to an individual person. You can be fined and charged criminally for stuff like that."
No positions in stocks mentioned.
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