Attorney Mark Galloway answers the question: "What is the Iraqi Dinar?"

WHAT IS THE DINAR?

“Dinar” is the name of a currency like the dollar or the yen. Just as there are both U.S. and Canadian dollars, there are both Iraqi and Kuwaiti dinar. The symbol for Iraqi dinar on the exchange tables is IQD. But what is Iraqi dinar really? I mean, why do people care? What makes it so much more interesting than any other currency? About six  months ago I submitted a request to the IRS that explains it. A piece of that submission follows:

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1.02 Background & History of Issue
In  1990 the value of the Kuwaiti Dinar dropped from over $3.00 to less than $0.50  due to Iraq’s invasion of Kuwait.  Many currency speculators bought Kuwaiti  dinar with a market value as low as $0.10.  When Kuwait’s government was restored, the value of the Kuwaiti dinar was reinstated.  Those who purchased  the currency for mere pennies were now able to exchange it for over $3.00.  Many  people became millionaires over night.  Kuwait became the nugget that sparked the equivalent of a modern day currency gold rush.

In response to Iraq’s  invasion of Kuwait, the United Nations Security Counsel (UNSC) placed severe  restrictions on trade with Iraq as well as adding other restrictions that would not be lifted until such time as a host of conditions had been met.  At the time  the restrictions were put in place, the Iraqi dinar (IQD) was trading at over  $3.00.  The currency immediately devalued.  Upon the invasion of Iraq by allied forces, the value of the currency dropped even further.

Currency  speculators who had profited from what had happened in Kuwait saw another  opportunity and purchased Iraqi Dinar (IQD) as low as $0.0001.  In 2004 IQD was  selling for about $0.0005.  For the past few years it has held stable at around  $0.0008.  The news of the potential for profit with IQD spread quickly.  For over  seven years people have been buying IQD as a speculative investment awaiting the  day that all of the UNSC restrictions are lifted, a full government is seated,  and (along with the International Monetary Fund (IMF)) the Iraqi government  revalues its currency to appropriate values based on its wealth of natural resources and other economic factors.

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What this means in the simplest terms is that if Iraq revalues its currency to appropriate levels, the 1,000,000 IQD that cost $1,000 USD to purchase would be worth $3,000,000 USD or maybe even more. Now you understand why people get excited. Even if there is only a slight chance that it could happen, there are thousands who believe it is worth risking a small sum for such a huge potential return.

I hope this blog will be a helpful place to come for information.

Best of Blessings,

Mark

Michael Tummillo here. If you are a Christian and are interested in keeping your money "In the Kingdom," I've been buying IQD's from Pastor Vincent Imperial the past three years. Many are speculating a revaluation (RV) is near, early as April 10th - though, as with all investments, there are NO GUARANTEES. If you've EVER blown money on anything stupid, well... this isn't one of those! I've been following this investment steadily the past three years and it's looking VERY promising. If you'd like some IQD, contact "Pastor Vinnie" at 850.255.1000 or email vincentimperial@cox.net. Tell him Michael sent you!