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...