Readers keep sending in questions about the outlook for the Iraqi dinar.

It's cloudy. Really cloudy.

For several weeks now, readers have been emailing to ask whether the Iraqi dinar is a good investment.

I've written about this before, but I'll say it again: the Iraqi dinar is the subject of a variety of scams, and regulators and watchdogs are sounding alarms. The Connecticut Better Business Bureau warned investors to stay away in late September, and in early October came word that the state of Colorado ordered AmIraq Fund, L.P., to stop selling investments in Iraqi money.(AmIraq agreed to comply with the cease and desist order, but neither admitted nor denied wrongdoing.)

If someone has been telling you about the rosy prospects for the dinar, please, please, be careful. It's almost certainly too good a story to be true.

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