People are always looking to make a quick buck off any investment that’s shining with potential, so long as their money does all the work. Countless traders who’ve had enough of the stock market made the tough decision to buy dinar notes instead, and hopefully make massive profits once Iraqi Dinar revaluation takes place.
While shrouded in controversy, many investors are still optimistic about their investments of the seemingly obscure currency. Ryan Williams, a small-business owner from California, is one guy that believes that his bold move to pool resources into his Iraqi Dinar investment will pay off someday.
During a recent interview with The Post, Williams said: “There’s risk in anything. I think our economy has shown us that.”
The Californian businessman isn’t the only one willing to spend considerable amounts of cash on the Middle Eastern country’s currency. There is a growing number of other investors pooling in their resources to get as many Iraqi Dinars as possible, but why?
Simple – as of today, the dinar to dollar conversion ratio is 1,165 to 1, making it tempting for anyone to hop onto the “buy dinar now, get filthy rich later” bandwagon. When or if Iraqi Dinar revaluation occurs, the dinar-dollar conversion ratio is predicted to be equal at 1:1.
To put things in perspective, a guy with a thousand dollars could buy 1,165,000 dinars, wait for the day when its value spikes up as predicted, and instantly make $1,165,000.
However, there are a number of factors that prevent the dream from becoming a reality, such as the ongoing war taking place in Iraq. On the other hand, the country still has massive oil reserves wherein its full potential has yet to be tapped, and rumors of an impending Iraqi Dinar revaluation still in circulation. If the government manages to put an end to the war plaguing their country, then things could start getting real bright for the dinar investors.
Nevertheless, people interested in buying Iraq’s currency with hopes of becoming millionaires someday are faced with another dilemma: the Iraqi notes aren’t traded by major currencies, nor are they held by US banks.
With that said, the only way for individuals looking to buy dinar notes have to locate local dealers, and have them deliver the investments in paper form. Moreover, finding a legit dealer is of the utmost importance, as the Better Business Bureau have cited several instances where investors get scammed out of their money.
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Mike Smith writes on various topics including Currency Exchange,
buying dinar and other foreign currency. He is published on more
than 300 websites including: www.dinarinc.com
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