We talked about the “Dinar Guru” scam in a separate article, and since then, we’ve been inundated with e-mails about the veracity of various other dinar investors online. Thankfully, a majority of the dinar sites and investors our readers asked about were legitimate, although we still cautioned them about the nature of forex investments, from the risks involved to the very real danger of causing an inflation of the value of the dinar.
This prompted us to take a closer look at the various dinar guru-esque websites out there, and of the many sites we’ve studied, one site pops up consistently: Dinar Recaps. At first glance, everything about the Dinar Recaps website just screams scam: an extremely simplified layout, content that’s rife with grammar and typo errors, and very limited browsing options on the site, all of which are designed to convince visitors to sign up for their newsletter.
But we shouldn’t judge a book by its cover, or in this case, a website by its landing page. We took a closer look at Dinar Recaps, analyzed the content and the advice they gave, followed the resources that they provided, and even signed up for their newsletter. Here’s what we found out.
What is Dinar Recaps?
Dinar Recaps claims to be a website that aggregates news about the Dinar, from legitimate forex experts and financial news organizations to speculators and, yes, even “dinar gurus”. The site covers news regarding the Iraqi economy and the value of the Iraqi dinar in the world stock market.
On its site, Dinar Recaps puts various disclaimers that it does not provide 800#’s, secure links, or exchange information; rather, they’re adamant about their claim of being strictly a news and resource hub for news about the Iraqi dinar. Most of the news they post are concerned about the position of the Iraqi dinar in the world market, general forex news, and speculations about the world economy from various sources.
Dinar Recaps is regularly updated, mostly by a blog management team that reposts articles from various financial experts. Their blog posts are not written by their team, rather, they’re copy-pasted from actual articles, with sources being mentioned but not linked to.
The website also has a legal disclaimer at the bottom of every page which frees them from any liability should anyone invest or dabble in buying/selling Iraqi dinar. Whether this is enough of a legal disclaimer to shield them from responsibility, however, is debatable.
Is Dinar Recaps Reliable?
The reliability of Dinar Recaps rests solely on the resources they post. Our financial experts at Michbelles took a close look at the posts and found them to be fairly evenly split between respectable and reputable financial experts like Simon Black (of the Sovereign Man fame), and less reputable speculative websites.
But even with the speculative sources Dinar Recaps posts, many of them are just that: speculation. Many of these posts fall short of making definitive statements, relying rather on “What ifs” based on the limited knowledge they have at hand. This makes them different from other Dinar sites which give irresponsible advice, like using outstanding debt as collateral, and so on and so forth.
Does this mean Dinar Recaps is reliable? It’s hard to say: when it comes to forex or stocks in general, any statement anyone makes –even reputable sources –can be proven wrong should the market swing a different direction. One thing Dinar Recaps does well is informing its readers that the information they post in their site is forex speculation and, while they don’t say it outright, should be taken with a grain of salt.
This means that, as a forex/Iraqi dinar news aggregate site, Dinar Recaps is surprisingly more balanced than a lot of other sites out there, including Dinar Gurus, which is highly biased towards blind investing in the dinar.
Is Dinar Recaps a Scam?
In short, no, Dinar Recaps is not a scam site, mostly because they act as a news aggregate/resource hub for budding investors. Dinar Recaps doesn’t feature resources on how to invest, and while they do have a bias towards investing in the Iraqi dinar, they fall short of actually telling people to invest in it, unlike some sites that claim their methods are necessary for creating wealth and retiring rich (which, in reality, is more about smart investments).
In between the legal disclaimers, the reminders that they don’t provide financial information, and the lack of any hard calls-to-invest, Dinar Recaps shies away from being just another scam site. However, this doesn’t mean that they’re completely in the clear: as a speculative financial site, people reading Dinar Recaps should still exercise a lot of caution.
Yes, Dinar Recaps only posts the news, but they carefully collate and curate the news they post to favor investing in the Iraqi dinar. This in itself isn’t an indication that they’re a scam; It is, however, something that should make investors raise an eyebrow.