Iraqi Dinar Lures Hopeful Investors

From:  Epoch Times 

COMMENT - This is what it should look like when you repost an article.  The name of the individual posting it is not mentioned, it is three paragraphs, and there is a link to the original article at the beginning and at the end of the third paragraph.  How much do you think Jeff Gordon and Raye are paid to push the Dinar?  It will come out when they are prosecuted.  

By Timothy Wahl | April 22, 2015

Age-old wisdom says that if something sounds too good to be true, it probably is. Hoax or something that could really happen, untold numbers of people in the United States have scooped up the Iraqi dinar in the hopes that the currency, presently valued at a fraction of a penny to the dollar, will reset to its former glory. Yet financial experts warn that all these millionaires-in-waiting are in for a major disappointment, expecting payouts that will never arrive.

Since the new Iraqi dinar was issued—minus Saddam Hussein’s picture—rumors have persisted about currency revaluation. “Iraqi dinars have been sold to ‘investors’ hoping to make a windfall when and if the currency is revalued in their favor,” states John Wasik, a contributor to Forbes magazine. Like many in global finance, he sees dinar buyers as victims who have stashed away Iraqi dinar with a steadfast belief that this investment will pay off in a big way.

The theory is that the Iraqi dinar is set to revalue to its level prior to the Gulf War in the 1990s when one dinar equaled US$3.50. If that scenario came to pass, an investment of, say, $1,000 in the Iraqi dinar at today’s exchange rate would bring in about $3.5 million upon revaluation. Such a scheme is fueled by the legend of the Kuwaiti dinar, which had traded at US$3.50 to the dinar before the Iraqi invasion. After the war, the Kuwaiti dinar, trading at 5 cents to the dollar, is said to have revalued to its former level, meaning those who caught the dinar at ebb tide raked in a lucrative return.  MORE