By John Lee.
A report from Canada's National Post sheds some light on the seizure of more than $7-million worth of Iraqi dinars on the US-Canadian border.
According to the article:
There is a strange, underground allure to Iraqi money, particularly in the United States, where a mélange of conspiracy theory, shaky geopolitical ideas and biblical End Times prophecy fuels a get-rich belief that buying devalued dinars will yield huge profits when Iraq stabilizes and its currency regains value.
Proponents sometimes claim this was the real, secret reason behind the Gulf War — engineered by a cabal of war-profiteering elites — and encourage ordinary folks to get in on the anticipated bonanza.
U.S. military personnel who served in Iraq, members of sovereign citizen movements who reject the laws and oversight of the state and fundamentalist Christian groups are among those who have shown particular interest in hoarding dinars.
John Jagerson is a Utah-based financial analyst who has written a book about Iraqi dinar schemes. The pitch has strong appeal for many Christian believers, said John Jagerson, a Utah-based financial analyst who has written a book about Iraqi dinar schemes. The ancient city of Babylon was in what is now Iraq and the Bible foretells the rise of Babylon preceding the second coming of Jesus Christ.
Some think buying dinars will help hasten Christ’s return. “So it is seen as an opportunity for a windfall wrapped up with spirituality, and invoking the authority of the Bible to show this is a reasonable proposition, when it really isn’t,” said Jagerson.
Most organized dinar sales schemes Jagerson has tracked, he said, are scams.
(Source: National Post)
(Dinar image via Shutterstock)