Member-only story
An Iraqi Dinar Scenario Worth Noting
As you may or may not know, the subject of the Iraqi Dinar on the Education Matrix channel started out with tax scenarios once the Iraqi Dinar revalued, floated, or did whatever it is going to do. Then the channel took a hard right because it became clear we needed to learn more about our investment before we begin to count our profits. The past year has been about Iraqi news and learning about the Iraqi culture, politics and constitution, plus we added in Vietnam Dong and later the channel added the Zimbabwe currency.
The bottom line of what we have learned is: Iraq’s constitution is based on the country’s religion. We have learned this same religion views the Forex Market as a gambling platform. The most damaging thing we learned is the Iraqi government has over printed the Iraqi Dinar, sending a strong message the new IQD is the brainchild of the western world, and the hell with it.
However, we learned some really good points about our investment, one, we learned nearly half of Iraq’s oil production is sold to China. This surely means prompt and continued payments. Two, we learned that Iraq is believed to have more oil under the ground then any other country in the world. Three, we learned Iraq is intent on getting along with Middle East neighbors and the Arab community.
