I have a cousin serving in Iraq who asked me this interesting question about investments in Iraq.
“Gary, What do you think about the newly printed currency Iraqi Dinar? I know there's a few people who are exchanging massive amounts of US money with locals. The exchange rate at the moment is about 1000 dinar to 1 dollar. That's about double what it was on initial printing. There's talk of it sky-rocketing as soon as oil trade is established and Iraq establishes trade with the global community.”
Gosh this is an interesting thought. We are bombarded in the news with all the bad things that are happening in Iraq and all that can go wrong. Let’s for a moment not discount the resiliency of mankind nor the power of peace.
What if the people of Iraq gets things right? What will happen to the Iraqi Dinar? I certainly do not know the answer so using the “no person can every be as smart as everyone” principle I ask you your opinion. This is a question we should answer.
Until next message, good investing