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Date Posted: 13:27:45 03/19/05 Sat
Author: bboop
Subject: Ok, who has some education in economics?

The "Man" left for Kuwait back in November, and left me, the kids and the dogs to all fend for ourselves! LOL (Actually, all is fine and as much as I miss him I'm enjoying the extra room in the bed! LOL)
But my question for those of you with some economic education is this: Have you heard of investing in the Iraqi Dinar?
The way the "man" has explained this to me is this: The NEW Iraqi Dinar is basically worthless right now. You can buy millions for next to nothing. Word on the grapevine right now is that the Dinar is going to open on the world market perhaps in March, maybe not. If it does, each Dinar would be worth anywhere from .20 US cents to .40 US cents. That would make your "investment" of, let's say, 1,000,000 Dinars that you purchased for $700 opening at .20 US cents worth $20,000 US Dollars. Of course, there are several variables on this, and I'm not that well educated in this type of thing. I'm just curious what others think about it.
Any ideas on this?

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Replies:

[> Re: Ok, who has some education in economics? -- bill, 19:47:33 03/20/05 Sun [1]

Well, the first rule of economics would tell you that in a fair and efficient marketplace the current price of the dinar would already reflect any future expectations and uncertainties.

However, the situation is obviously not a fair marketplace but is a non-market driven, artificially manipulated environment in which powerful players have a vested interest in directly manipulating the market to their own political and economic gain. At best, its a completely blind gamble and economics don't apply.

I can tell you that there have been a lot of people who've gotten rich taking $$ from others they've convinced they can make a fortune buying and selling third world currencies.

Personally I'd ask myself, "could I flush this money down the toilet without missing a penny of it?"


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