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Iraq Responds to Reuters Dinar Article...

11/24/2012

The jig is up: Iraqis know about you now...

The Iraqi media is reporting US citizens are investing in their currency and how we feel it is one of the largest investment opportunities in the world...

Somehow its strange to see it from their perspective.

Its also very interesting to see a US article translated into their language and not the other way around. (this article was an Arabic translation of a US article then translated back to English...wow!)

Is this the beginning of Iraq letting their citizens know their currency will have value soon? I sure hope so...Blanche

This comes from the currency newshound...

Reuters: US investors snap up dinars...

11/20/2012

Big Media talks Dinar... Reuters

"The Gold Rush into Iraq has just started.."

Finally a balanced article about the dinar...what's left out of this article may be as important as what's in it! :)

Let me explain...

Rarely does big US media talk about the dinar...and when they do they...how do I say this...they make the investment out to be some sort of a "scam" by coming out and calling it...well a SCAM! :)

Not this time! Not once is the word "scam" used or even eluded to! They do a good job of explaining the high risk nature of the investment. Which is great.

Here's what we learn:

There's probably about 1.5 million dinar investors in the US (if you take the two biggest dealers and guestimate their numbers based on what Ali provides here--my son is the guestimator in the family :) From these numbers it appears you and your fellow dinar investors are a pretty rare bunch.
On average each investor has between 500,000 to 1 million dinar (based on Ali's 810,000 customers buying 570,000,000 dinar)
Iraqis still favor the dollar
The Iraqi dinar is the weakest currency among oil-producing Arab nations.
Iraq's central bank hopes to make one dinar equal to $1 at some point through redenomination and central bank-induced appreciation.
Iraq's deputy central bank governor Mudher Kasim told Reuters that process could take three years.

The article is a good read...so read the full article below...

Iraq Responds to Reuters Dinar Article...

Reuters: US investors snap up dinars...

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