even IBN accept dinar was once trading at over $3

[humveee]

Just read this from IBN - seems that they at least accept that the dinar was once trading at over $3:

http://www.iraq-busi...s-lead-the-way/

IBN’s Expert Bloggers Lead the Way

Posted on 23 August 2012. Tags: Dunia Frontier Consultants, InvestAD, Jared Levy, Mark DeWeaver, Quantrarian, Sherif Salem

By Padraig O’Hannelly.

For readers interested in investment opportunities in Iraq, I think it’s fair to say that our Expert Bloggers have excelled themselves in recent weeks.

Following the analysis of Iraq’s banking sector by InvestAD‘s Sherif Salem earlier this month, Mark DeWeaver of Quantrarian Asia Hedge has been picking through the balance sheets of listed companies to identify under-valued assets.

The results are sometimes startling, with property bought when the Iraqi dinar was worth over $3 — it’s now worth less than one-tenth of a cent — still carried on the books at original cost price; Mark finds hidden gems trading at tiny fractions of the values of their property.

We’re also delighted to welcome a new Expert Blogger to our ranks: Jared Levy is Senior Middle East Analyst at Dunia Frontier Consultants. Based in Iraq, Jared has extensive experience conducting field research, and this week gives us a detailed look at foreign commercial activity in the country in the first seven months of this year. We look forward to reading his perspectives on inward investment in the country.

Edited August 24, 2012 by Markinsa
Added Text of Article to Post

[Gooserider67]

I'll gladly take $3 dollars to a dinar.... GO RV!!!

[Elixirbaby]

I'll gladly take $3 dollars to a dinar.... GO RV!!!

I would take .03 at this point.

[fnbplanet]

Imagine buying a Baghdad local sporting goods store chain worth $3 million for only around $2500.00 .......

[jg1]

Or, a Baghdad local sporting goods store chain worth $3 million devaluated to around $2500.00 .......

Ouch. Thats what happened right.

[Carrello]

Oh, yeah. These guys are real financial wizards. I hope they didn't ruin their manicure digging for this information.

[unirod]

This is why my gut feeling has always been an R/V at $3 +. If there are assets still being carried and listed at such rates an R/I is more likely. After all why should the property owners lose everything built up because of Sadaams stupidity?....IMO

[dontlop]

i agree the property was bought with 3 dollar dinars , they paid 10 thousand dinars for a house worth 30 thousand dollars ... now that house costs 10 million of these dinars .. i guess if they rd .. that would make things the way they were and pay that 10,000 dinars for that 30000 dollar house.. go zero delete !..

[RVPleaseToday]

"If there are assets still being carried and listed at such rates an R/I is more likely."

It is really hard to revisit the past. Once you've blown your house up, you can't move back in, you have to build a new house. The world has changed a lot in the last 10 years.

Just sayin'.

[eyesofpure]

Gives a person something to think about.

[unirod]

RVPT,

Yes the world has changed, But the wealthy have not. Those who are in control of these assets are going to make sure they get their investment back and they won't lose. Their are many families in Iraq that are old money. They control the State Banks like Rashid and Rafadain banks for example. So any assets valued at the old rate, you can betwill see their real value again soon ....IMO