Trump Fans Sink Savings Into 'Iraqi Dinar' Scam

[DonViejo]

The president’s true believers are convinced he’s going to make them millionaires with Iraqi currency.

Will Sommer
11.20.18 4:56 AM ET

Trump supporter Hayes Kotseos runs a North Carolina pool-maintenance company, but she’s got a side bet that she thinks might make her fabulously wealthy: the Iraqi dinar.

The currency is nearly worthless outside of Iraq, but Kotseos bought millions of dinars in April, after watching a video of President Trump at a 2017 press conference. In the clip, Trump says, with characteristic vagueness, that all currencies will soon “be on a level playing field.”

In reality, Trump was talking about trade imbalances with China. But like other Trump supporters who have fallen into the dinar investment scam, which has existed since at least 2012, Kotseos interpreted Trump’s rambling statement as proof that the Iraqi dinar would soon be worth as much or even more than the dollar, making anyone who had been smart enough to buy in early a millionaire.

“I love my president, and I was like, ‘Oh my God,’” Kotseos told The Daily Beast.

The purchase, Kotseos said, cost her and her husband somewhere between $5,000 and $10,000, counting the cut to the company that sold them the dinars. Two of her adult children have bought millions more dinars, too.

Like other investors in the incredibly long-shot dinar scheme, Kotseos hopes that Trump and the Iraqi government will somehow “revalue” or “RV” the currency, boosting its current value of less than $0.001 to $3 or $4.

more
https://www.thedailybeast.com/trump-fans-sink-savings-into-iraqi-dinar-scam?ref=home

[tanyev]

1. Eventually they will be leading the crowd with tar and feathers.

[Lindsay]

2. Nah, they'll want to

tar and feather the libruls who kept Trump from making it happen.

[Javaman]

3. with 10K, they could have invested in two roth IRA's and had a return that's guaranteed.

but alas, stupidity.

[jberryhill]

4. Now that's funny

These Trumpers are ripe pickings.

[Loki Liesmith]

5. Lol

I look forward to the crash

[ProfessorGAC]

6. Another Con, And More Suckers Falling For It

Of course, oblivious to the fact that there must be some structural underpinning to the value of the currency. Exactly what would that be, Ms. brilliant business person Kotseos?

[3Hotdogs]

7. Well, they lost the cost of the commission. They can't lose much else.

It will always be worth .001 cents that they can spend on their next visit to Baghdad.

[workinclasszero]

8. Well the suckers bought into the Trump scam so yeah

Obvious marks are obvious.

[peekaloo]

9. Ut oh. They'll have to open a roadside FlavorAde stand to recoup their losses.

[Baitball Blogger]

10. Republican dinarsore losers.

[Roland99]

11. News of the day. Thy name be Schadenfreude!

[Johnny2X2X]

12. The business is grifting rubes and business is good

I can imagine that scammers are living the high life. They've got a clear label of the stupidest and most gullible group of people in US history. The MAGAs. Group members each have a huge red and white label that says sucker on their heads. They will buy anything related to Trump, anything. And thanks to the GOP, they've made the laws governing scam businesses much weaker so half of that they do is now legal.

These scammers are printing money right now. I would bet there are thousands of scams targeting the Deplorables.

[smb]

17. No Doubt

The deplorable hordes are like the Happy Hunting Ground for scammers.

[Renew Deal]

13. aka his base

This is the kind of thing you need to believe

[MineralMan]

14. Is that nonsense still going on?

My right-wing brother in law invested a couple thousand dollars in buying dinars years ago. When he finally realized that he had fallen for a scam, I bought a pile of the worthless currency from him for $20. Then, I incorporated it into a shower enclosure in my house, doing a decoupage of the bills on the existing enclosure and finishing it with clear acrylic.

That way, I was surrounded by Millions every time I took a shower.

I'm surprised that people are still falling for that scam.

[Adrahil]

15. LOLOLOLOLOLOLOL! NT

[irisblue]

16. I didn't know pool maintenance paid so well.

From the article..."Kotseos said her family can afford to lose their dinar investments, if the currency never appreciates. But she’s convinced that she’ll be able to resell her dinar and at least recover a majority of her investment."

She's also into. Vietnamese ding & QAnon.

My sympathy dried up.