Thread: Iraq/Dinar News. 09/05 to 01/14/07

Originally Posted by boogirl

$6.78 is a lot of cash to most people in this war torn country with 50-60% unemployment... They wouldn’t offer this amount if it was an insult. It’s a BIG deal to have money to give on this very special day. Remember these people are not like us spoiled Americans, having $6.78 per person given to them to share on this most Holy day is awesome to them.

However, it would make a great time for a reval.

But it looks more like mid to late Nov. to me.

As always, I hope I’m wrong about the date.
Boo



Eid al-Fitr

Ramadan ends with the festival of Eid al-Fitr, which in 2006 occurs on Oct. 24. Literally the “Festival of Breaking the Fast,” Eid al-Fitr is one of the two most important Islamic celebrations (the other occurs after the Hajj, or pilgrimage to Mecca). At Eid al-Fitr people dress in their finest clothes, adorn their homes with lights and decorations, give treats to children, and enjoy visits with friends and family.

On the morning of Eid, everyone gets up very early to go to the prayers. These are special prayers, held only at Eid. They are held only in very big mosques, or in large open areas, such as football stadiums. They are held about 80 minutes after sunrise, so in the summer months it is very early.

After the prayers everyone goes home to eat breakfast and then the celebrations really begin. It isn’t common for children to receive gifts. Instead they receive money. The money should be in the form of a brand new bank note or coins. The amount given is small, usually in the region of about $3, but still they get plenty. Everyone who visits the children, or everyone whom they visit, gives then the gift of money. In a large extended family, with lots of friends, the children can end up with a small fortune!

A sense of generosity and gratitude colors these festivities. Although charity and good deeds are always important in Islam, they have special significance at the end of Ramadan. As the month draws to a close, Muslims are obligated to share their blessings by feeding the poor and making contributions to mosques.

That is true. The people that are pover according to studies is 20% of the population. They are living of $1 a day or less. An extra donation of $6.78 is money for almost an extra week. That is not bad if we look it that way.

I hope, whatever it is, they get it and enjoy it. Those innocent people do not deserve this (I mean the misery, they do deserve the donation).

Originally Posted by Nomrah I

If the average Iraqi lives on about $1 a day - $6.78 is a weeks salary - plus a little for something extra. I don't think they're looking to "set anybody up" It's just a gesture of good will - No rv before this happens - they are not going to give every citizen 10 grand.

I don't agree with you in this one!

If they RV and open the door for Foreign Investment, Iraq will become a very rich country.

In that case I think they can pay every citizen 10 grand. Not only is it mentioned that the wealth of oil belong to the Iraqi People but it also is a very good way to let every citizen make a new fresh start.

Just my opinion.

Originally Posted by Nomrah I

If the average Iraqi lives on about $1 a day - $6.78 is a weeks salary - plus a little for something extra. I don't think they're looking to "set anybody up" It's just a gesture of good will - No rv before this happens - they are not going to give every citizen 10 grand.

Thanks for your reply and thank you too, Boogirl. I guess a week's salary would be a good gesture. I didn't mean to sound condescending or crass. I guess sometimes I forget the standard of living differences. I remember a few years back the US citizens received a tax rebate of $500. To some Americans it was more than a weeks pay, to others (the rich) it was worth about 5 minutes of their time and they thought it was a ridiculous gesture and waste of time and money. I guess it all depends on where you are on the financial totem pole. Personally I tend to be on the lower end but above $6.78 per week. :)

worf

If they give this 10,000 to the iraqi people and then they reval, all of that money goes back into the economy and everyone is happy.

Does anybody know if they must announce a revalue (by IMF agreements) or can they do a Revalue overnight and explain the day after?

If I am correct they did a revalue overnight in the past!

Iraqi Currency

Iraqi Dinar has been hit very hard by the unmerciful imposed sanctions, the value of the Iraqi Dinar has dropped 6000 folds against the American dollar for example:

(1 Dinar) Iraqi Dinar was equivalent to ($3.3 Dollars)

today (2000 Dinars) are equivalent to ($1) Dollar..!

So if you were an Iraqi Millionaire and had 2 Million Dinars in your bank account before the Sanctions that would equate to $6.6 Million Dollars, however today that would equal $1000 Dollars, that is correct this is not a typing error, Only One Thousand Dollars.

I don't know about you but if my hard earned $12,000.00 (child college fund) is only worth $2.00 by the time my 9th grade child is ready to go to college, I would be devastated. All I got to say is God help these poor people in Iraq I don't know how they are making ends meet..!

Iraqchat Money

After seeing this, I'm in favor of the 10,000 dinars = $10,000 usd

Originally Posted by AlwaysDreaming

Iraqi Currency

Iraqi Dinar has been hit very hard by the unmerciful imposed sanctions, the value of the Iraqi Dinar has dropped 6000 folds against the American dollar for example:

(1 Dinar) Iraqi Dinar was equivalent to ($3.3 Dollars)

today (2000 Dinars) are equivalent to ($1) Dollar..!

So if you were an Iraqi Millionaire and had 2 Million Dinars in your bank account before the Sanctions that would equate to $6.6 Million Dollars, however today that would equal $1000 Dollars, that is correct this is not a typing error, Only One Thousand Dollars.

I don't know about you but if my hard earned $12,000.00 (child college fund) is only worth $2.00 by the time my 9th grade child is ready to go to college, I would be devastated. All I got to say is God help these poor people in Iraq I don't know how they are making ends meet..!

Iraqchat Money

After seeing this, I'm in favor of the 10,000 dinars = $10,000 usd

They are not making ends meet. If it that 10k dinar turns into 10k dollars, to the iraqi citizen it is still 10k dinar. The difference being dad will be able to take the family out to a nice dinner, and mom will be able to by the new throw rug for the house. The banks WILL NOT be cashing in 10k for each citizen, it will be used at home to pay bills, but needed things, and for once maybe splurge just a little on themselves. I say good for them, they deserve it

Originally Posted by kiko

Does anybody know if they must announce a revalue (by IMF agreements) or can they do a Revalue overnight and explain the day after?

If I am correct they did a revalue overnight in the past!

The way they did China, is that they announced it on a Thursday and then immediately the value changed.

Originally Posted by kiko

...2 - If they RV and it is for every citizen it is a lot of money. On the other hand they can afford it then I think.

Besides that there is always mentioned that the wealth of the oil belongs to the Iraqi people. It could be a nice start for every Iraqi citizen for a better life and give them something to live for after a difficult period of years.

3 - It is a message like the 20 million loan. Within a few days we hear that it is not true.

Just my thoughts.

like hes dead, he isnt dead, hes dead, he isnt dead...

Originally Posted by AlwaysDreaming

The way they did China, is that they announced it on a Thursday and then immediately the value changed.

Now that sounds good to me

Today is Thursday - RV?

Next Thursday is October 12th, hmmmmmm seen that date a bit lately

JUST RV IT ALREADY!!!!!!!!!!