igotafew Posted August 21, 2011 Report Share Posted August 21, 2011 I wonder what the side effects of ordinary Iraqi's becoming millionaires overnight would be to the world?? Link to comment Share on other sites More sharing options...
Jmcc Posted August 21, 2011 Report Share Posted August 21, 2011 I don't think the ordinary Iragi has enough to become rich over-nite. They will have an increase in spendable income and can better their living standards if the government gets the water and sewer and electricity systems up to par. Without those things, not much help with extra money. They will be able to buy more imported items with their new income. Just don't think the ordinary Iragi has that much income. Link to comment Share on other sites More sharing options...
nointel Posted August 21, 2011 Report Share Posted August 21, 2011 the most iraqi's are poor and thus will not be any richer when it RV's. prices will be adjusted to reflect new rate and lower denoms will be in place. in country there will be no major effect on citizens and there wealth. if they barely have enough to survie on now what makes anyone think they are hoarding millions of dinar waiting for a revalue? they will be the same as they are now. 1 Link to comment Share on other sites More sharing options...
Chooch Posted August 21, 2011 Report Share Posted August 21, 2011 It will probably be business as usual there. The rich get richer, the poor get poorer. Link to comment Share on other sites More sharing options...
igotafew Posted August 21, 2011 Author Report Share Posted August 21, 2011 prices will be adjusted to reflect new rate and lower denoms will be in place. they will be the same as they are now. So if their 1000 dinar note (which right now buys a loaf of bread) Rv's to = $3000 USD That same loaf of bread will run them $3000 USD?, lol..I don't think so. Link to comment Share on other sites More sharing options...
oatman_230 Posted August 21, 2011 Report Share Posted August 21, 2011 I believe it will be the same there as it would be here. The smart ones will finds ways to invest and maintain or grow their wealth, and the not so smart ones will be broke in a year or two. Link to comment Share on other sites More sharing options...
lizabeth1 Posted August 22, 2011 Report Share Posted August 22, 2011 cnn announced today that we are losing tax revenues because we now have 30% less millionaires .the dinar revalue could correct this problem... Link to comment Share on other sites More sharing options...
watercop Posted August 22, 2011 Report Share Posted August 22, 2011 So if their 1000 dinar note (which right now buys a loaf of bread) Rv's to = $3000 USD That same loaf of bread will run them $3000 USD?, lol..I don't think so. why would the government do an RV if it won't help their people Link to comment Share on other sites More sharing options...
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