The Investment Scam That Refuses to Die
When a sales pitch begins with, "I'd like to explain to you why the Iraqi Dinar is not a scam," it's...a scam.
Fair enough. Long-term investment, not a get-rich-quick scheme, sounds legit. So, what's this about a revaluation?
Jan: Iraq is in the process of joining the WTO, as soon as that happens, the Dinar will revalue. The key is to hold on to the dinars until that happens.
Me: And what does it mean exactly to revalue? (sorry for all the questions...I'm kind of new to this)
Jan: Banks are not holding the Dinar yet, as it is not yet on the Foreign Exchange. The Revalue means that the value changes....it is highly unlikely it will go down as it is very low at the moment (the exchange rate is 0.0008).
Jan: Iraq is second only to Saudi Arabia in their oil reserves, the country is getting to be very strong. The US government poured over 200 billion in Iraq to rebuild the country, and big US companies are investing in Iraq.
Jan: Such as BP, GE, Pepsi, AT&T, Exxon Mobil, Royal Dutch Shell.
Jan: Looking at all this, it is unlikely the value of the dinar will go lower...no doubt it can only go up.
Of course. Just look at what Pepsi's (NYSE:PEP) presence in Bangladesh has done for its economy:
A glance at the US dollar's performance might also offer a clue as to what the stateside presence of BP (NYSE:BP), GE (NYSE:GE), AT&T (NYSE:T), and ExxonMobil (NYSE:XOM) has meant for investors long the USD (NYSEARCA:UUP).
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