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OT - Long Shot Investment
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Posted by Dug on January 01, 2005 at 22:16:50 from (63.167.143.119):
Wanted to get your feedback on buying Iraqi Dinars as an investment. Obviously, the risks associated with this type of investment are high, however, the payoff seems to warrant the risks. The pros on this are:
1) Iraq holds the worlds second largest oil reserve.
2) They also hold the worlds largest natural gas reserve.
3) They have tremendous ag opportunities with the Euphrates and Tigris rivers.
4) The Dinar, introduced in Oct '03 is at an all time low, currently trading at .007 Dinar to the dollar. Pre-war (late 80s) the dinar was trading at a high of 3.2 dinar to the dollar.
5) Free elections scheduled in late January. The risks are obvious:
1) They have about 20,000 bad guys causing trouble.
2) That area of the world is prone to unrest.
3) The dinar is currently not traded via normal markets. (However, five major banks are planning to enter Iraq after the elections have finished.) What do you guys think? Dug
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