If nothing else it is a hedge against the huge loss of value coming in the US Dollar. Clearly, the rest of the world is positioning itself to move away from the USD as the world's reserve currency. The US taking actions to not allow Iran to use SWIFT has only speeded up the demise of the USD as more countries are now scrambling to replace the USD with direct currency swaps. The BRICS countries, China dealing with just about everybody, India, Japan, Africa. India exchanging GOLD for oil with Iran.
Perhaps having Canadian money instead of Iraqi Dinar might be a better play short term? That play certainly does not have the big payout that IQD might have.
I have long stated that one day PEN would be 1 to 1 with USD.
IMO that time is coming much sooner than most people believe.
USD/PEN has always had a ratio between 2.5 and 3.5 PEN to 1 USD since 1996. It is now pushing down on the lower end of that ratio around 2.65 to 1. Once the USD is gone as the world's reserve currency things will change in a hurry as excessive USD will flood the world market and the USD will lose much of it's value. Everything will cost much more for American's so there you are spot on. Especially things people need that are not luxuary items like food, gas, water, etc.
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