Since April of 2004, BetOnIraq.com has been faithfully, and efficiently, shipping billions of Iraqi dinars to thousands of satisfied customers around the globe. 

 

 

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 less than $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.

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. 

We understand that liberty is always challenged.  It's challenged regularly in our own country.  Why should a fledgling democracy, on the heels of a 30 year dictatorial rule, be immune?

We simply trust that the seed of freedom, implanted  more than two years ago with the fall of Saddam's regime, has germinated in the hearts of the majority of the Iraqi people.  We see this as a wondrous thing, with tremendous possibilities.

Thirty-eight nations have reduced the debts owed to them in an effort to bolster Iraq's economy.  Billions of dollars are being invested by international firms to create Iraqi markets. 18 billion dollars has been given to Iraq by the US State Department to rebuild the nation's infrastructure.  They are receiving aid monetarily, militarily or both, from most of the countries in the free world.

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 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. The incredible successes of the last two Iraqi elections seem to clearly suggest they want it, and will run with it.

Furthermore, the two pre-eminent causes for the collapse of the Saddam dinar have been removed from the equation. Trade sanctions have been lifted. The currency's high tech security features have been thwarting counterfeiters.

We are freedom loving Americans that believe a liberated, resource rich Iraq can become a force in the world economy. We believe the efforts of the coalition are noble, and will be effective.  

We are not professional financial consultants or Wall Street gurus. We can't predict the future or offer any investment advice.

But we will bet on Iraq.

After another successful Iraqi election, the chance to buy the dinar before it hits the open market may not be around much longer.

If things ultimately turn out well for the people of Iraq, they should also turn out well for anyone who bought Iraqi currency at today's prices. 

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