How is it possible for Iraq to revalue the dinar?

iraq
12345 asked:


I’ve heard about investing in the Iraq dinar. And I heard they will possible revalue it. How does this process occur?

Harland Randzin
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This entry was posted on Thursday, March 24th, 2011 at 11:56 pm and is filed under Other - Africa & Middle East. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to “How is it possible for Iraq to revalue the dinar?”

  1. Jerry says:
    March 28, 2011 at 3:59 am

    Revaluing a currency does not produce a profit. All they do is lop of a few zeroes. If a “new dinar” is worth 1000x the “old dinar”, 1000 old dinar could only be exchanged for 1 new dinar.

    This has happened many times. The classic case is Germany between WW1 and WW2. More recently it has occurred in Brazil, Turkey, and several African countries.

    The publicity regarding the dinar is just a bunch of thieves trying to scam naive people with a sales pitch that is 100% lies.

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