Betting On Iraq
I don’t like to consider myself a sucker, but frankly, I can’t figure out what the catch is here on this site. It is saying that you should by Iraqi Dinars (their currency) because it is probably at its lowest possible price and should go up assuming you believe they can recover sometime within your lifetime. So you buy 1,000,000 dinars for $1050 American dollars. If the price of the dinar goes up 40% compared to the dollar then your 1,000,000 Iraqi Dinars will now be worth $1750.
And I really do believe that it would work if you are willing to bet that Iraq can recover and their currency value will go up. This guy at CNN Money says it is pure gambling. Is he right?
Ok, folks. Poke holes in it please.
Comments
2 Responses to “Betting On Iraq”
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Um…No. I predict it would take atleast 10 years of improvement in Iraqi economy in order for me to make a decent amount of money.
What happens next year when there’s a civil war and the Iraqi central government doesn’t exist anymore?
(Yes, I realize this comment is 3 weeks late and will be read by no one. Oh, look…a tree just fell and I didn’t hear it.)