Jim D. writes:
yes, currency is in demand by bank-robbers, but is it scarce? there are some who believe that the value of money comes simply because it is backed by the state. But in Iraq, some currencies circulated that had been issued by states that no longer existed -- even though they were replaced by new currencies. I was wondering if this is still so. It would be ironic if, in addition, Bush's state in Iraq were to be in such bad shape (causing inflation) hat its dinar was worth less than Saddam's old ones are now.
============================ See http://www.xe.com/iqd.htm#overview. It's pretty cheap (1466IQD=1USD) and not traded freely (neither was the Saddam dinar, which was pegged at a much higher rate) so if you go to Baghdad you could probably get a wheelbarrow's worth for pennies on on the black market if you want to make a long-term bet the country will survive intact and stability will return and the dinar will appreciate on the back of rising Iraqi oil exports. I wish you the very best of luck.
