Iraqi Dinar is the Perfect Return On Investment (ROI) in 2016

The parliamentary economic committee of Iraq declared that 2016 can be decisive time for revaluation of Iraqi dinar. In early 2009, the Iraqi government released plans to redenominate the dinar, giving rise to one of the most globally foreseen “get-rich-quick” faith  in recent times.

Years later, investors are still watching, still expecting, and still buying more dinars. Their expectations is that, over the next 10 years, since Iraq has the second largest oil reserves in the world with the prospective of doubling its oil revenues, any currency redenomination will be accompanied by a revaluation, giving rise in a great increase in the dinar’s value.

In this, there is not one but three misconceptions that may unfortunately shatter the expectations people are placing to buy the Iraqi dinar. These misconceptions center on a) the redenomination process, b) debt forgiveness, and c) the central bank policy.

This belief in a dinar revaluation is based primarily on the basis that Iraq has the world’s second-largest oil reserves. For the past nine years the Iraqi Dinar has had a crowd of confident, devoted and sometimes depressed followers. One thing we can all conclude on is that the current Dinar is worthless.  But many believe it will never be worth anything and is no more than a fraud. While others believe that the Dinar will not only give the global economy a break in the arm but will make a whole slide of regular folk multi-millionaires.  The debate rages. 

The question is, will it ever credit anything and if so, what impact will it have on Iraq. The good news is that the RV of the Iraqi currency is all over the news.  No one in the Iraqi government or central bank even talked about an RV, a year ago or so.  Now, it is all over the news every day.  It turns out that there is a lot more to it to buy Iraqi Dinar than any of us every could have imagined.  The fact that so many high in the Iraqi government and CBI (central bank) are ranting about the revaluation process clearly indicates they are working on it and it probably will happen.

They say the Dinar will be on par with the US dollar by 2016.  They have also said it would be the most beneficial currency in the region (putting it over $3).  I would look for the rate to be somewhere between one and three dollars and change.  Again, no one knows.

As it turns out, the fraud success is based on a dominant combination of selfishness, apparent inside information, and the strength to see, feel, and touch the currency. In fact, the most fascinating part of situation is that the Iraqi Dinar is legitimate and tangible. Investors can not only hold them, but also show their companion, friends and even fold them up and put them in their wallets. Additionally, they are part of a standardized industry and can be purchased at a few major US Banks. All factors that seem to make investing in either of them a very credible and captivating opportunity.