My dad has been convinced (from web research probably written by the
scammers themselves) that the Iraqi Dinar will make us rich (if it
doesn't put us into debt). I have pulled numerous sites to help
discourage him from buying into this and he literally laughs at it all.
He has completely shut out his common knowledge and is going to loose a
lot of money. Can anyone help me to discourage him from making this
awful mistake? Thanks!
Personally I wouldn't call the Iraqi Dinar a scam. Your dad is paying money for the currency and as long as the dealers are sending it he hasn't been scammed. He can turn his Dinar back in or re-sell them and recoup some though not all of his money. In that sense it isn't a scam.
That said the Dinar is not an invesment, it's speculation and it's a longshot if not impossible that it will ever revalue. I do truly believe however money can be made slowly over time as with any other currency. The concept of buy low and sell high is nothing new to currency however the idea that your dad would pay $1000 for Dinar and the next day it revalues and is worth 1, 3, even 12 million dollars is ridiculous.
It's sad and somewhat pathetic how brainwashed some people get to refuse to even see an alternative point of view, they are convinced it's going to happen. Personally I think these people are delusional.