Dinar News To all Am Chat People from This Morning

[john1025]

I wanted to apologize for my chat with you this morning. I shouldn't have called you dumb and it was not called for. I was only trying to explain how to figure the exchange rate and some got very testy with me and said I was wrong. First let me say, that even though I lost my temper with you, I am not wrong and I will try to explain it better in this post. I am not an expert though I have been dealing with foreign currency exchange for over 20 years and even owned a business exchanging currency. So I think I can figure out the exchange rate. So here goes

You have 1,000,000 dinars. the exchange rate for dinar is .862 divide $1.00 you get 1.16. now, many of you believe that this is the exchage rate and that the dinar you hold is worth One Dollar and Sixteen Cents. Wrong. That 1.16 represents 1 dinar + 1 16th of a dinar hence 1.16. Another way, if you have 1,000,000 dinar and divide this by 1.16 dinar you come out with $862,000 . if you take .862 x 1 million you get $862,000.

what you were saying in chat this morning is that 1.16 is the rate, if you were right, then you would have $1,160,000 but unfortunately you are not right. .000862 take off 3 zero's and it's .862 that is the rate of exchange, then take 1.00 divide by

.862 and you get 1.16 which is dinar not dollars. take your 1,000000 divide by 1.16 and you get $862,000 US. Or just do it simply and take .862 x 1,000,000 and you get $860,000.

I simply do not know another way to explain this and I hope this helps.

Again I apologize for losing my temper.

[kedwa420]

John1025

I wasn't there this morning, but I admire you for apologizing and thank you for explaining about the currency rate. It is very confusing for those of us who have never dealt with this before.

Good luck with this investment.

kedwa420

[texastwistedlv]

yes thank you.....

[NotReallyTex]

John I truly appreciate your being in chat to answer my silly questions. I think everyone gets frustrated in chat at one time or another. I know I do.

[mtaajj]

I was very offended, if you will send me 250,000 dinar, that should cover my visits to the Psychiatrist. I am fragile, both in mind and body....make it 500,000. LOL

Seriously, I was in at the time and took no offense.....However, thanks for your humility....says a lot about you.......we should all learn a little from this

[dwayne919]

Call it like you see it John! That's why we like you...

[rand1]

yes i too was very offended. i was not in chat, but i understand i would have been offended. i to would welcome apology of 250,000 dinars to sooth my feelings.thank you.

just kidding.haha

[jackdavis1364]

I wasn't on the chat at that particular time but I'm positive that there has been many more confrontations than this one. As far as your explanation, sounds good to me. I do not care either way. I will take either the $1,160,000.00 or the $860,000.00. Where to I apply for my money? LOL

[timsters]

yep thats my bud john !!yes sir my buddy lol you tell em john

[Marketplace Leaders]

Yea I guess that means you some how know what the rate is, yea OK or are you just like everybody else clueless, so what difference do it make how to calculate 000000000000, when that's all we are seeing is absolutly notta, zilch, when I get conformation of a real rate, I will betcha like many others we will figure out how to calculate our earnings on this incrediable once in a lifetime investment, weeeeeeeeeeeeeeeee! what a fun ride. LOL

[luckylucy]

john1025,

I was there and though I was not personally offended by the way you expressed your frustration, I do admire your apology here. It was an exercise in patience with the math thing going on ... someone else also spoke up and clarified the math ... I don't recall who it was, but he did a nice job.

IMO, though, we often see the numbers sometimes as "exchange rate" already calculated and other times the raw numbers and folks don't realize that. I'm for rules .. I say we make a rule ... anyone who post what they think (speculation) we'll get paid for our dinars has to do the math first ... and show the calculations and indicate what is the actual exchange rate. :-) On a serious note ... uuuhhhmm .. that was my serious note. love u man! I was right there with you! luckylucy

Edited March 3, 2010 by luckylucy
typo

[allooh]

John: you are correct, if the exchange rate is 1 IQD= .862 USD,

then 1000,000 IQD = $ 862,000 USD.

but

If they drop 3 zeros from the currency then 1000 IQD = $.862 USD

which means that 1000,000 IQD = $862 USD and that is the

current rate before an RV.

[babydoll77]

John: I never seen that side of you before. Just relax.

[john1025]

babydoll, fortunately for all I don't show that side often. Just having a bad day I guess. Sorry again.

[wolf5771]

You guys are a rip.I like this place .I bet you guys could come up with some other answers based on you life. When is the second coming and how many zeros do you have to drop,and then divide to get that answer.LOL oh yea Power ball #'s wil it work there too? Just playin John thats pretty cool stuff