Iraqi Dinars (currency)

[J0nny Ling0]

I posted the following on a thread that I started over at politics and tacks. But no one over there commented on it. And so, I thought I would post the same over here in that there is more traffic over thisaway. Oh, and I am not trying to sell anything, I just wanted to know if any one knows anything about it...

quote:

Have any of you looked into investing in Iraqi Dinars? I have read that the Dinars, before the Ist Gulf War, were worth around three bucks US apiece. I bought 100,000 new Iraqi Dinars for $175.00 from

www.betoniraq.com

Right now they are worth only a fraction of one US penny. If they go up to one US cent, my hundred thousand will be worth one thousand dollars US. If they don't ever go up, I will simply have some very expensive conversation pieces and a reminder that "a fool and his money are soon parted". But if they ever get back to pre gulf war worth, I will be rolling in the dough.

I am not holding my breath, but I have heard too many times about people who invested in let's say Wal-Mart, Yahoo, Microsoft, or whatever when the stocks were dirt cheap, and who are now reaping the benefits of a wise decision...

Anybody else know anything about this stuff?

[Oakspear]

I hadn't heard anything about it, but then again I've not been keeping up lately.

Part of the problem with unstable currencies is that sometimes, the old currency is scrapped a new one started. I expect we'll see that if and when the Iraqi economy gets on it's feet they'll be at least one change in the currency, making the next-to-worthless dinars totally worthless.

I wouldn't be surprised if the medium of exchange is the US dollar in Iraq right now.