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While everyone's piling in on the silver/gold bandwagon... which isn't a bad bandwagon to be on in terms of hedging one's bets against the dollar... has anyone hedged their bets against the possibility of a new financial world order, which is knocking on our door?
It would appear that BRIC (Brazil, Russia, India, China, et al) nations are ready to throw the US dollar under the bus. But, there's another huge investment besides silver that one can play that would greatly leverage the impending re-valuation of 111 global currencies that's about to take place.
Perhaps the most significant revaluation will be the Iraqi dinar, which has been spoken of for years after being ARTIFICIALLY devalued by US forces when we invaded.
According to articles from the Central Bank of Iraq and many highly-placed sources, Iraq, along with 110 other countries are about to revalue their currencies (some higher, some lower). This is part of a new financial world order. The US dollar, it would appear, is about to make it's way under the bus. I suspect a "possible" devaluation of USDs coming soon. Even without a devaluation, the USD is losing its exclusive reserve status to a basket of currencies. Thus, the USD is likely to take a big hit.
Silver is indeed a good play -- for now. Even better though -- even if the dollar strengthens somehow with all the global changes (always possible) -- is to invest in a currency with extremely high leverage. I believe the Iraqi dinar is the perfect vehicle for this leverage, as it is currently extremely undervalued at 1170:1 against the US dollar. This means, you can buy 1,170 Iraqi dinars for $1. Most banks won't give you that rate, but TD Bank will give 0.0010472 last I checked, which amounts to 950,000 dinars for about $1,000.
At pre-devaluation rates during Saddam era ($3.22) this would amount to 950,000 dinars X $3.22 = $3,059,000. That's how badly the dinar has been devalued in order to prevent terrorists from using the currency to fund attacks on US troops... and to allow the US gov't to buy up 3.7 TRILLION dinars at the devalued rate before revaluing them much higher (about to happen).
Here's today's headline from the Central Bank of Iraq:
CBI: It is time to re-evaluate the currency, commensurate with the price changes and the wage in the economy
The appearance of Mohammed Saleh / adviser to the CBI:
(Iraq after five years on the verge of producing a large oil 6 million to 12 million barrels of Iraqi oil would be a regional power in the management of energy in the world and will be the proceeds of a large system and the current cash management system currency in this way is a product of phase lag like it or not needed reform the management of currency after five years claimed the block becomes large cash)
Shabibi, the Governor of the CBI, is speaking in the US today at the US Chamber of Commerce: [link to www.uschamber.com]
Iraq's Ministry of Finance just spoke at the Chamber last Friday.
It appears this is about to pop worldwide. Singapore just revalued their currency 25% higher, and China and Vietnam are supposedly part of the basket this is going to revalue higher soon as well.
Even if this takes another 2 years, which I can't possibly imagine, this investment offers limited risk and staggering potential return. Worst case scenario? You sell back to the bank or licensed dinar trader and lose up to 15%. Best case? IQD revalues to $3.22+ and you make a tremendous amount on a very tiny amount invested.
To all the naysayers... yes, this has taken a long time, and yes, many have waited years for the IQD to revalue... however, they have not had the infrastructure/government to do this until now. They are one announcement away from a fully seated GOI (Government of Iraq) and are announcing publicly they are about to revalue the currency higher, in line with their massive oil reserves. It can and will only go UP from 1170 so I personally can't think of a smarter investment.
Never before has the CBI announced their intention to re-evaluate their currency higher and it appears they are about to do so SOON. Thus, anyone who previously had doubts about the Iraqi dinar should read what the CBI is saying TODAY and realize Iraq is bankrupt and if they don't revalue soon, they are in deep trouble as their people will riot and kick the current leaders out of power.
Disclaimer: Information provided for educational purposes only. I offer no financial advice and am not a financial advisor. Consult a financial professional before you invest any money and invest at your own risk.
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