From TraderPlanet.com
Some questions I receive make me really ponder the reason for the question. A true case-in-point is the one below. I have to wonder why the reader wants to know anything about the Iraqi dinar. After all, we are talking about a country that is still to a degree in a civil war. We are talking about a country that is barely holding onto a governmental structure. We are talking about a country still rebuilding infrastructure destroyed from years of bombing and war. We are talking about a country sitting in the Middle East, a hotbed of unrest and civil disorder.
Will the Iraqi dinar have real value soon?
Okay, I have thought about this question and I can come up with only one reason the reader, or anyone outside of Iraq for that matter, actually cares about the dinar. Somebody is selling something that just ain’t gonna happen, and with just a couple of minutes on the Internet, I found the scam …
Advertisements in local newspapers promise great wealth by purchasing the new Iraqi dinar. Promoters explain that as democracy comes to Iraq, the expected peace will stimulate the Iraqi economy and the value of the dinar. What investors are not told is the dinars can be redeemed only in Iraq and that the sellers already have doubled their money. Thus, the dinar would have to more than double in value and you would have to take a trip to Iraq to collect any profit.
In the future, it is possible the world’s second largest oil producer could become stable and prosperous. The future, though, is a pretty big place, and there is a lot of time between then and now. So, my answer to the reader’s question is: the Iraqi dinar will not have any real value anytime soon.
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Anthony DiChi,
Your friend in Forex Currency Trading, FX Information and Forex News at TradeCurrencyNow