In total contrast to the decline in World Markets the Baghdad Stock Exchange reports a huge rise in inward investments with dramatic gains on the Index as Investors and Commodity Dealers turn to sand.
Iraq has huge reserves of sand which is constantly increased due to climatic conditions in the area.
The Iraqi Minister for Sand explained "the wind pattern is such that sand is blown into Iraq from Iran, Syria and Saudi Arabia. As a result we are confident our reserves will not diminish and could actually increase for the foreseeable future."
Meanwhile in London an rueful spokesperson for the Association of Local Authorities reflected on the failure of the Icelandic Banks and their subsequent loss of hundred of millions of Taxpayer's money. " Hindsight is a wonderful thing" he countered " OK maybe we should have invested in sand rather than ice but we weren't to know that. Everyone thought ice was cool."