Scamming dinars

After years of trade sanctions, and rampant counterfeiting, the Iraqi Dinar has plummeted from its pre-Gulf War value of over USD$3, to mere fractions of one US cent. What was once the equivalent of more than $82,500, can now be purchased for around $50. Can Iraq's economy achieve, in a free market, what it once achieved under a brutal dictatorship? We don't know yet. But we know she is not alone in her effort to do so.

Might a free Iraq thrive?

Above and beyond the vast oil reserve, agriculture, and highly educated population, there is now liberty in Iraq. We believe that where liberty is sown, prosperity blooms.

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Let's say you decide to err on the side of Iraqi prosperity. You take advantage of the 100 year low value and buy 2 million Iraqi dinars. You look them over, admire them, and show them to some friends as a curiosity. The security features alone will have them enthralled. Then you stick them in a closet and go about your life.

A few years from now, you see a program on A&E portraying the lives of average Iraqis. You see people drinking locally bottled, genuine Pepsi Cola; not the ersatz they'd been consuming for years. They are buying their cars from Baghdad Mitsubishi.

Their highly educated engineers, no longer waiting tables or driving cabs, are engineering. The world's 2nd largest oil reserve is producing more efficiently. Higher quality crops are being harvested, in larger numbers.

You discover that things are going well enough in Iraq to have raised the value of the the dinar to one US cent.

Your $2100 purchase would now be valued at $20,000.

If the dinar were to climb to a dime, you've got two hundred thousand dollars in your closet. What if it were to reach a dollar? Or rebound to it's peak of over $3.00? Do you dare continue to keep your dinars in the closet?

This is no pipe dream.

This is a genuine possibility, with remarkable ramifications. Organizations like Operation Iraqi Children working with the US military, are helping to shape a new generation of freedom loving Iraqis. It won't be long before these kids take their place in society. They will recall their childhood as the time when powerful Americans released them from the grip of a bloodthirsty madman, and gave them the tools and support to build a peaceful, prosperous society to call their own. Evidence suggests they will run with it.

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Their economy continues to grow by leaps and bounds. The average Iraqi now has more disposable income than they've had in many years, as evidenced by the huge demand for home appliances and computers in recent months.

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Now if they can just get the electricity to go with.

Prices as of 02/28/05

$45 $80 $155 $325 $595 $825 $1060 $2100 $3135 $4160 $5175 $5175 + $1030/ea

25,000 Dinars 50,000 Dinars 100,000 Dinars 250,000 Dinars 500,000 Dinars 750,000 Dinars 1,000,000 Dinars 2 million Dinars 3 million Dinars 4 million Dinars 5 million Dinars over 5 million additional million (no limit)

Dollars to dinars these folks are making a boat load of money.

Is this legal?