Why some say the Iraqi Dinar investment is a scam
People who are aginst the Iraqi Dinar investment are not making themselves clear. They say, "the investment is a scam" and what they really mean is the belief that the currency will revalue to an uinbelievable high rate is a scam. This blog and the channel that sponsors this blog, the Edu Matrix, agrees that believing that the currency will revalue to $3 or even $1 for that matter is highly unlikely and anyone who promises that is not telling you the truth.
However, investing in the currency that is used in a country today can never be a scam. The belief that it will go up substantially may be untrue; however, is that not what the largest financial platform in the world is all about? Listen very carefully to the video.
The Forex Market is based on currencies going up and down.
Is it unwise to believe that the Iraqi currency could increase to ten cents to one U.S. dollar?
Zimbabwe's new currency the ZiG is now worth eleven cents to one U. S. dollar. (August 2024)
It doesn't matter if a currency goes up a little or a lot, it's still a legal financial action. Most of the viewers on the Edu Matrix channel hold one million Iraqi Dinars and more. If the currency only went up to ten cents to one Iraqi Dinar, they would enjoy a five and six figuer payout.
The considerable amount of Iraqi Dinars currently in circulation poses a major obstacle to the currency's potential for significant appreciation. Achieving a substantial increase in value would require an exceptional economic transformation, a prospect that seems highly improbable given the country's current economic state. The sheer magnitude of the money supply means that any efforts to revalue the dinar would entail a significant reduction in its circulation, an undertaking that is both impractical and economically unviable. Furthermore, a sudden and massive appreciation could cause disruptions such as inflation and other financial instabilities. Thus, due to the vast quantity of dinars, a significant revaluation appears improbable.
Despite possessing significant oil reserves, Iraq's economy remains fragile and heavily dependent on oil exports. Ongoing challenges such as political instability, corruption, and security concerns continue to hamper investor confidence and discourage foreign investment. Moreover, the Central Bank of Iraq has prioritized stability over aggressive revaluation tactics in its monetary policy. A substantial increase in the value of the Dinar would have negative consequences for Iraq's economy, as it would drive up export prices and diminish competitiveness in the global market.
It is unprecedented for Dinar promoters to suggest currency revaluations of such magnitude. Historically, revaluations have occurred when countries emerged from periods of hyperinflation or war, which artificially suppressed the value of their currencies. Even in such cases, the revaluation process is controlled, gradual, and does not result in the massive windfall that Dinar promoters claim.
Finally, Iraqi authorities and the Central Bank have consistently denied plans for a major revaluation. There are no plans to peg the Dinar to the U.S. dollar or to any other foreign currency at a dramatically different rate, according to official statements that the Dinar's value will continue to be determined by market forces.
