Following Mystical Prophecy, Trump Fans Save Iraqi Dinars

Published November 22nd, 2018 - 12:01 GMT
Iraqi dinars that are currently worthless outside Iraq are being traded with US dollars in US as Trump fans believe it will get revalued and worth more than the dollar.
Iraqi dinars that are currently worthless outside Iraq are being traded with US dollars in US as Trump fans believe it will get revalued and worth more than the dollar.

By Randa Darwish

The story started when US President Donald Trump suggested in 2017 in a press conference that all currencies will “soon be on a level playing field”, referring to recovering trade balance with China at that time.

However, many Americans considered Trump’s suggestions as a proof the Iraqi dinar, that has been suffering since the Kuwait war with sanctions and consecutive wars on Iraq, is going to improve to be worth more than the US dollar.

Recently, an article in the Daily Beast features an interview with an individual who believes the Iraqi dinar will make her wealthy following Trump’s remarks in 2017. It's not entirely clear how widespread this investment strategy is.

Accordingly, Hayes Kotseos, happily, bought in April millions of Iraqi dinars with hopes that it might be boosted from its current value of less than 0.001 US dollars to reach 3 or 4 dollars. It cost her and her husband around 5K and 10K US dollars, with her children also buying millions of dinars too.

Kotseos and others like her are currently waiting for any moment in which the dinar will recover to make of them millionaires.

Many mocked the hoax and its believers, raising doubts of any stability might be seen in Iraq in the near time.

On the other hand, many believed it. They were seen on Twitter expressing their admiration for Trump urging him “revalue” or “RV” the Iraqi dinar as soon as possible so they can get their dreams true.

In fact, what many Americans did not know is that the Iraqi dinar revaluation is not as easy as they think. Talks about it have been going for years, but the political instability in Iraq, the world’s second largest oil reserve, and the UN sanctions that were imposed on it had helped in deteriorating the current money value.


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