PaulConventionWV
Member
- Joined
- Apr 26, 2011
- Messages
- 16,041
What the hell is a dinar vet?
It's someone who has been trading and/or investing in the dinar for a long time. Some of them have been speculating the revaluation of the Iraqi dinar for as long as 8 years since it became worthless after their country was invaded. It is speculated that, since Iraq is developing its own trade relations and government, it will need to have a competitive currency. Once the Iraqi dinar becomes an internationally traded currency again, it is said that its current value will rise by about 1000% or more, making those who currently own a thousand or more Iraqi dinar millionaires in US dollars.
If you buy $1,000 worth of dinar and it revalues at 1 dinar per 1 US dollar, then your dinar can now be traded for $1,000,000 and you have made a net profit of $999,000 on your investment. Some people have tens of thousands of US dollars invested and are planning on becoming multi-millionaires when, they say, not if, it revalues.
The interesting thing is that this has actually happened before in Kuwait, so I am really surprised it is not a bigger topic of discussion on this forum, considering how market-savvy many of us are.
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