Why is it such a horrible reason to invest in the currency of a foreign country like Iraq?
QUESTION: Erin wants to know if investing in Iraq money (invested in the new government) would be a good idea. Dave hates the idea, for numerous reasons.
ANSWER: This would be a horrible investment idea. Don’t put a dime in foreign currency in highly unstable countries. That doesn’t mean I’m against Iraq or our troops. It’s just a statement of fact against the Iraqi currency. Anyone who gets elected over there gets killed in about 20 minutes. Playing currency is a bad idea, period. But it’s an especially bad idea when the current government of that country is hanging on by a thread. Under no circumstances should you put money in there.