Rich Iraqi natives

[Sucma]

Now that I am invested in this one of the questions that I can't get over on the negative side of the RV topic is;

Won't the Iraqi people be insanely wealthy over night or am I just to new to the understanding if the whole picture?

Thanks for the thoughts,

[Kandi77]

Now that I am invested in this one of the questions that I can't get over on the negative side of the RV topic is;

Won't the Iraqi people be insanely wealthy over night or am I just to new to the understanding if the whole picture?

Thanks for the thoughts,

There money will be worth something when it RVs and they will be able to purchase/import things easier, their money will go farther. They are not going to be cashing in for USD, as they will be using their Dinar, so the exchange rate doesn't really affect them. JMO

[bluejay]

Great question, and yes if the RV goes the way we want yes they would be, but some say this is what is owed to them for being subject to all this. I know who could imagine that us & them are going to be wealthy from one day to the next........Still great question.

[Sucma]

What would you say the average Iraqi has in dinar to there name I was thinking a couple mill?

[justin88]

What would you say the average Iraqi has in dinar to there name I was thinking a couple mill?

Ok easy there come in here a newbie and making such questionable statements will get you jumped all over. I for one wont do that but you should do alot more research before making a statement like that anywhere. Because if you did even the smallest amount of research you woulfd realize Iraq is majority in poverty and most familes live off 1-2 usd a day and most of them wont even have that. The thought of families have millions of dinar just laying around is funny there are only a hand full of people that could do that there.

Also no the people will not be insanely wealthy they will be better of and have a living standard. Also all goods brought into iraq are subject to huge taxation of upwards of 100-150% tax...If you need the perfect example the people of Kuwait receive 100,000 KWD or 330,000 USD at birth they recieve free health care and do not pay taxes yet in that country there are the rich, middle, and poor classes.

[imgesing]

GREAT QUESTION and I think what will happen is that a 1K dinar for a coke will now mean you can use let's say .75 to buy the same coke. Purchasing power goes up. Prices are adjusted. IMPORT goes WAY UP.

Economic growth speeds up very fast. The issue you might want to consider is How Many Iraqi's have lots of Dinar. For us it is 1070 to a dollar for them it is still worth little. So if it goes up they just have purchasing power but they are now worthless. Which is what has been fueling so much anger. Its an economic RESET button.

I agree with JUSTIN in that few there have much. THEY NEED THIS so badly.... We are just lucky here on the fringes.

[mr john]

The average Iraqi has NOTHING saved. Ever wonder why you never see photos of Iraqis eating out of trash cans. Not many trash cans and the ones they have dont have any food in them.

[jeepguy]

some of the folks in iraq do have dinar stashed out from other family members that are working other area`s of the world sending home what they can .the money is hidden in spots . but yes on average -- very poor ,,,

[capt.cliff]

When the RV comes, IRAQ will no longer accept dollars to be used in day to day transactions so there would be no point if they any extra dinar to cash them for dollars, that would be the only way to benifit from the difference in currencys becuase they would have no way to spend the dollars but thier dinars would have a lot bigger buying power

CLIFF

[graml]

If they do become "Rich" wouldn't that be good for their country. More people spending money, raising economic growth.

[BanG]

Not much I would say, that is why it took so long to collect the larger bills so they could the release the smaller denominations. Do not forget most of the country is on a sort of welfare, remember the GOI approved the rationing system to keep the people from staving? I'm sure some have larger bills but not many. JMO. Peace.

[Darin]

Most of them would be wealthy, but over time adjustments would be made and the wealth would stabilize.

[RicknSaudi]

Not unusual in the ME. We all know how well the average Kuwaiti citizen is compensated. Here in the UAE, the average Emirati gets almost 200,000 AED (apr $55k) per annum in subsidies and other benefits. They do know how to "spread the wealth" to keep everyone fat, dumb, and happy! Just Sayin'

[Sucma]

To me the information posted by you guys is great. It is hard for me to think that half of the Iraqi people couple get a passport and fly first class were ever they want after a RV. Bahamas, Vegas, And blow there now 1000000 times RV ed money! LOL.

I still don't think there new government likes them that much.

Thank you guys for the reponses. There is some much to google and many conclusions can be derived.

[Iraqi Queen]

To me the information posted by you guys is great. It is hard for me to think that half of the Iraqi people couple get a passport and fly first class were ever they want after a RV. Bahamas, Vegas, And blow there now 1000000 times RV ed money! LOL.

I still don't think there new government likes them that much.

Thank you guys for the reponses. There is some much to google and many conclusions can be derived.

Okay, everyone, here is the truth about the "Average Iraqi", whatever that means anymore.

I have said many times before, and I will say it again, there is no such thing as an "Average Iraqi". I am an Iraqi/American, born in Baghdad, Iraq and an American Citizen. I still have many, many ties to Iraq and I know for a fact that only the very, very, wealthy will hugely benefit from the RV. This would be your politicians, and very wealthy business people who have managed to take IQD out of the country.

Ordinary Iraqi's do not have huge savings in banks where they will switch their IQD for USD. They live from month to month and usually that is just enough for rent and food.

This was not always the case, but after the U.S. invasion, this is the reality of life in Iraq.

The Iraqi's are just trying to survive. Unemployment is at an all time high and has been for a very long time. Security and safety is a whole different subject that would take me forever to get everyone to understand. You are literally risking your life daily just by living in Iraq, and I am not exaggerating.

So what they truly and so desperately need right now is safety to be able to conduct their day to day activities, stable jobs, electricity 24x7, running clean water, housing, reliable health care, and a globally recognized currency.

Please pray for the Iraqi people and the nation of Iraq. They have suffered for so long.

Edited April 2, 2011 by Iraqi Queen

[txk9popo]

The elusive RV we wait on is simply a blessing to any of us. Even though it would change our lives drastically, we are still eating, have a roof over our heads, and most of us are gainfully employed. So at this time the Iraqi citizen is who need's this the most of all. For them even to have power on to keep basic food products from spoiling is a privilage. They have no luxuries like Dish TV or AC on hot days so how can we complain on how long this is taking. Not preaching, JUST SAYIN'

Edited April 2, 2011 by txk9popo

[speculatorsRIDE]

Strictly my opinion

Let's assume that the Iraqi worker makes 500,000IQD a week at his job pre rv. That would be the equivalent of $528.00USD. I use this figure as I just purchased another 500,000IQD for 528.00USD at 5th 3rd Bank. Post rv the same Iraqi worker would not receive 500,000IQD. He would then be paid the amount of IQD that would be the equivalent of 528.00USD. This is how I see it anyway. Again JMO.

[Iraqi Queen]

The elusive RV we wait on is simply a blessing to any of us. Even though it would change our lives drastically, we are still eating, have a roof over our heads, and most of us are gainfully employed. So at this time the Iraqi citizen is who need's this the most of all. For them even to have power on to keep basic food products from spoiling is a privilage. They have no luxuries like Dish TV or AC on hot days so how can we complain on how long this is taking. Not preaching, JUST SAYIN'

Actually, after the invasion, mostly everyone has a satellite dish now, thanks to the U.S.! And mostly everyone now owns a cell phone, Praise God and again, many thanks to the U.S. That being said, even their cell phones operate differently than ours. They don't have contracts, just Sim cards or as they like to reference them as "receipts" that allows them to purchase minutes. And, what good is the T.V. when electricity is only available for a few hours a day. In the summer months, it is unbearable!

Saddam and his regime never allowed the citizens to own computers, cell phones or have any other T.V. channels beside three or four that were heavily monitored by him.

You are absolutely right my friend, how can we complain?

Edited April 2, 2011 by Iraqi Queen

[Old Guy]

Now that I am invested in this one of the questions that I can't get over on the negative side of the RV topic is;

Won't the Iraqi people be insanely wealthy over night or am I just to new to the understanding if the whole picture?

Thanks for the thoughts,

Not Really ! ...Within hours of a revaluation all goods and services within the country will adjust their prices to co-incide with the change !

The major advantage to the people will be in the fact that they will then be able to purchase foreign goods at sensible prices and move their standard of living into the 20th. century !

With their currency as is now, it is not valuable enough to buy major appliances and such from foreign markets !

This will in turn create a market economy with competitive markets in and out of the country !

That's my take on the situation, someone correct me if i'm wrong !

Good Things To All !

[Sucma]

Dinar is .001 of my overall portfolio. I enjoy talking with you guys And hearing all that is said. The dinar rv would not do much for me finically but I would Have the satisfaction of being right. (wife). LOL.

On that note queen the one thing that I have always said is when we invaded bush could have said we are going for humanitarian reasons or list one of the 20 reasons and told us to pick one! I like the fact that an entire people have the opportunity to live how they see fit and enjoy being alive. I hope that there will be some rebuilding missions to join and volunteer for when the country is more secured and the G is stable..

[umbertino]

Quote

Ok easy there come in here a newbie and making such questionable statements will get you jumped all over.

End Quote

He didn't make any statements if you read it again... He just asked our opinion.

[Sucma]

Quote

Ok easy there come in here a newbie and making such questionable statements will get you jumped all over.

End Quote

He didn't make any statements if you read it again... He just asked our opinion.

Thanks. I am new and have no claim to fame mostly questions and a few opinions.