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

Wonderfully said SoFla and Mia! :-)

***I also enjoyed the "other end of the horse" comment quite throughly Bill! LOL! ;-)

I was just wondering if anyone here can tell me what the average Iraqi citizen earns as a daily wage? Also, what is the cost of living? Like, what do they pay for rent, food, utilities, fuel, clothing and other consumer goods in dinars?

[QUOTE=Loops]

Originally Posted by Raditz

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Im so unbeleivably confident that i am right that i will buy everyone on this forum a keg of their favorite ale if i am proven wrong and we walk away with millions.

Make my keg Newcastle....

I surely hope that the countries helping Iraq won't let anything happen with a lop. I truely believe the USA is pushing for a proper reval to finance the war. I believe that Iraq has enough oil reserves to make sure it happens without breaking the country. Cigarman

Originally Posted by rodney ewalt

I was just wondering if anyone here can tell me what the average Iraqi citizen earns as a daily wage? Also, what is the cost of living? Like, what do they pay for rent, food, utilities, fuel, clothing and other consumer goods in dinars?

300 Dinar per week comes to mind but I won't stand by that figure...I've slept since I've heard that number on a news program somewhere...

EW

I mostly read what you experts say, I am very greatful to you all that you are willing to share.
Thanks so much.
Mandy.

Originally Posted by rodney ewalt

I was just wondering if anyone here can tell me what the average Iraqi citizen earns as a daily wage? Also, what is the cost of living? Like, what do they pay for rent, food, utilities, fuel, clothing and other consumer goods in dinars?

Rodney,
It was my understanding that most Iraqi's are on government subsidies. The government pays for their basic needs, and they do not have much for anything else.

Originally Posted by Loops

Why wont you understand that it is impossible to pay out even a tenth of the current speculators if they just decide that a 25k bill instead of being worth 17 bucks is now worth 25000 dollars?

You are in your on opinion here. Which is fine. You must remember that the CBI is like our Federal Reserve in the US. Backed by Faith in the Government (not in Gold as the past) as Taxing it citizens.

IT WILL BANKRUPT THE CBI!

As stated above. The CBI is like the Federal Reserve in the US. They never go broke. they just print more to go in "DEBT". You must remember when the reval comes, in my opinion CBI holds all the dinar it wants and probably more then we can imagine. So lets say it is 1:1 they CBI just became very rich in itself. They can exchange too.

They cannot do it. Not to mention the chaos it would cause in iraq itself.

You think the violence is bad now? Whats going to happen when everyone knows that any old person could have 50000 dollars in their pocket or a child has now thousands of dollars worth of dinar from yesterday?

Muggings will be all over the place.

EW. answered this one above somewhere.

What about the general purchases in iraq? If they revalued it and didnt issue a new currency then how is anyone going to pay for anything? Ive allready said this but you cant pay for a 1 dollar coke with a 10000 dollar bill.

Well this one is good. But it looks like they are going to issue a new currency for this situation. I said "Issue" not "Replace".

The CBI is going to do everything in their power to stop us speculators from taking their money. What makes you think they are going to just give away millions or even billions of dollars just like that when they can so easily screw us all over?

Hummmmmmmm. I agree to do everything in their power. But to do what? To strengthen their country? Well then they will more than welcome a reval then because as I said before they hold most. Are can Print as much as need to.

Your viewpoint just does not make sense.

Yours really dont ether ,to the more involved followers and reserachers.

Please support your argument with positive economic statements instead of normative ones.

Well do like the rest of us...you got 265 pages to catch up. I had to do it when I jump on Board. It is there, and more ever today.

(please google those phrases if you do not understand them).

I am really busy in other threads to do this. And dont really feel the need to.

Ignorance is worse than stupidity. Stupidity has a cure. Ignorance does not.

Well said here point here.

Baker Jaber AL Zubaidi: Iraqi Dinar Value should be Raised 29/06/2006 Source: Al-Sabah





The Ministry of Finance together with the Central Bank are studying a proposal to raise the value of the Iraqi dinar in order to return it to previous levels where one Iraqi dinar was valued at 3.33 US dollars. This was pre 1980 before Iraq became involved in three destructive wars that at one time led to the currency's value dropping to a level of 3,000 Iraqi dinars to one US dollar. The proposal has the support and approval of the World Bank.

A statement by B.J. AL Zubaidi, the Minister of Finance, in which he said that he had suggested to the Chairman of the Central Bank, Dr. Sinan AL Shibibi, that three zeros be taken from the Iraqi Dinar in order to raise its value so that one Dinar be equal to a Dollar. He explained that the financial authorities were set on holding a meeting next month to discuss the matter. The meeting is to be attended by experts and specialists from the Ministry of Finance, the Iraqi Central Bank and the Commercial Bank .

The new Minister confirmed that 2007 would see the preparation of a qualitative budget, the first of its kind in Iraq history, and that the new program would pinpoint economic indicators.


I think this is definately the home stretch. Iraq is making a killing on oil.
We all new it, there it is in black and white.

NO zero lopping stated here AT ALL..........

Originally Posted by everwiser

300 Dinar per week comes to mind but I won't stand by that figure...I've slept since I've heard that number on a news program somewhere...

EW

If that's correct, then, that must mean that they have smaller denominations in circulation and even if that was 300 US dollars per week, who could live on that unless the cost of living was equally proportionate.

It makes me wonder how they purchase goods and sevices now, if their wages are that low. I sure would like to know more on this subject.