-->I know this might be old news, but its a new concept to me.
Graham and co who deal in Forex may also like to take a punt. It is a gamble, but if you have a few $ to lose, what the hell.
anyone on this list know of or have ideas of what will happen with the below scenario...
BUY THE IRAQ DINAR - ITS VERY VERY LOW RIGHT NOW...
It seems, many people are buying the new Iraqi Dinar - currently being produced from the UK I beleive in an expectation as the US helps Iraq get over current problems - as well as obvious gold rich nation increases it wealth - the Iraq dollar will increase in value.
Currently, you can buy around 1 million in Iraqi dinar for around $800-1100.00 US. The promoters are touting that Kuwait had similar weak currency in the the wars past - and now the value of there dollar is above $3.00. Many people cashed in on that war by simply buying the currency at the low point and now selling it on the world exchange
How will Iraq be any different?
I have a friend who is a soldier in Iraq - and he himself is buying thousands of Iraqi dinars in the long term expectation that it may increase in value. Its a risk - but jesus what a payoff!
You buy 1 million worth now for $1000.00 (0.001 each) and hope the value increases. In the past the Iraq dinar was worth $3.00 to the US! I know that woint probably occur again - but even if it went to 20c to the dollar - thats a mega jump.
One investor (Graham - take note!) has already purchased $200,000 worth in the past and is selling those for more now than what he purchased the dinar for.
PROBLEMS: I can see the most obvious is total loss of dollar value. but who cares? Im prepared to lose $1000 for the risk.
Also, maybe the Iraqi dinar will never be recognized on any world exchange (highly unlikely though as surely stability will occur one day) - and cashing up the $ may be difficult.
OR: The new government when elected strips the US made Iraqi dinar in favour of a Iraqi dinar - this would more or less put a timeframe on ability to transfr to new $, which means you would need to be in Iraq to do so.
Won't the US make sure the newly elected Government has very strong ties with them - and they will maintain the US funded new currency.
Any thoughts by anyone on this subject? Take a search on google under:"buy iraqi dinar" to see the brokers selling these. They even sell on e-bay.
It may be worthlesss money - but Im a gambling man, and these odds look better than any casino out there.
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