Trump Fans Sink Savings Into 'Iraqi Dinar' Scam

[ffr]

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.
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Unfortunately for American investors, the long-awaited “RV” never seems to come. - The Daily Beast

3 Atlanta men convicted in Iraqi currency scheme that made millions - Atlanta Journal Constitution
Rubes I tell ya.

[The Velveteen Ocelot]

1. Just by voting for Trump people have proved they're suckers,

so it's not at all surprising that some of the same bunch of suckers would be taken in by an obviously fraudulent scheme like this. P.T. Barnum was right.

[ProudLib72]

2. I have a cunning plan

Buy up all the Trumpie Bears right after X-mas when they go on sale. Hoard them until 2020. Then, when tRump is elected for a second term, sell those Trumpie Bears for $100 apiece and make millions!

Anyone want to make a small investment?

[ffr]

4. Can you do it with your mouth puckered?

If so, I think I could find some of my rube conservative friends to pony up.

[bitterross]

3. A fool and their money are soon parted

I don't feel sorry for them at all.

[Scurrilous]

5. K&R

[gratuitous]

6. Because countries revalue their currency upward all the time

How bone stupid can people be? Yes, countries in financial trouble will "revalue" their currency in hopes of staving off creditors. What they try to do is devalue the currency so that today's thousand unit debt can be paid off with currency worth a tenth or a thousandth of the money incurred by the original debt. Revaluing currency upward, so that today's dollar is worth a c-note tomorrow, is utter madness.

[ffr]

8. Best explanation I've read yet.

Thank you.

[Vinca]

7. Some people are such easy pickings.She probably took courses at Trump U., too.