One of my friends ask me about Iraqi Dinar. It is because his uncle try to convince him to buy the note which he told that will make him richer. I’m not an expert but don’t really trust about this kind of investment. I just told him to ask from money changer and all of them said that the note has no value.
While he ask others friends, I just google and found why they think have Iraqi note could become a rich scheme. Do you know about revaluation? Iraq want to delete their 3 zeros of Iraqi dinner from their currency. It could turning unknowledgeable people to millionaire. Is it really true? I just found some interesting facts from other’s people who research about this scheme too :-
1. There is not yet a set international exchange rate and so international banks do not yet exchange Iraqi dinar.
2. The exchange rate available on the streets of Iraq is around 1200 dinars per US dollar.
3. Many Iraqi Dinar speculators believe this “lop” or “revaluation” will instantly give them 1000x profit on their original investment. However, most financial experts believe that Iraq will lop 3 zeros by issuing a new currency (like they did in 2003), exchanging 1000 current dinars for 1 new dinar.
4. Investors may see profits in the future, but a 1000x profit if very un-likely. Some financial experts believe small profits are possible, but exchange and dealer fees could eat up those profits easily
SOurce :- Bilfaloo
Another Related Link :
Why Won’t the Iraqi Dinar Scam Die
Is The Iraqi Dinar Worthless Paper Or Maker Of Millionaires?
So, anybody have another opinion about this Iraqi Dinar? Let’s share your opinion or information.