500,000 dinars is around $500.00 USD, to an Iraqi that's a lot of money.
$500.00 x 12 months = $6,000.00 which doubles their per capita income to $12,625
Iraq - now $6,625 - after $12,625 but wait, how does it compare to other oil rich countries? ~~~
Oil Wealth Production - Per Capita - Income - Countries Comparison:
1) Qatar $93,825
2) Kuwait $56,347
3) Equatorial Guinea $24,036
4) United Arab Emirates $41,692
5) Norway $99,636
7) Saudi Arabia $25,136
9) Oman $23,570
15) Canada $51,206
18) Iraq $6,625
30) Australia $67,442
31) United States $51.749
Some Other Highest Income Per Capita Countries:
Macao SAR, China $78,225
As you can see Iraq is way off the pace of other oil wealth and high per capita income countries even after you add in this guys campaign promise to double each Iraq's income by double.
A boost in their monetary system could also fix that, IMO.
Just some interesting facts to ponder over on this Sunday morning....
Have a great day folks!!!
Supporting research links:
4-27-14 BGG: (Do you feel in your opinion no RV until after the elections?) I still have some hope for a "pre-election" event...not as much as before - but they vote on Wed...we're in the thick of things now...
and like I said a while back - it won't matter who is elected - this is a very public topic.
Currency reform is NOT GOING AWAY. Currency Reform is a very public, urgent topic...it will be a top priority.
Not sure how it will all play out - but things are sure heating up now. BGG Blog
4-27-14 John MacHaffie: intel: MONDAY, MONDAY!
4-27-14 Ber: Nothing but positive messages coming in today. Today is probably the last day you will be able to go down to a chase bank or Wells Fargo and order some dong. It looks like we are finally there.
We have said that so many times before (3 1/2 years’ worth for some of us - up to 11 years’ worth for others) but all news today says this is going to happen and very soon; maybe this weekend.
Hope you have been studying so your game plans are all in order.
4-27-14 Aggie: WELL, YOU HAVE GUESSED IT, but the UST and the USA, stalled once again. Iraq is ready, been ready.
The first two stages are now complete, and we wait for the third and final stage to be implemented, which is the announcement and the rollout. Since the UST passed the deadline they were given,
it is now ON with PLAN B, and the IMF and the Chinese will roll it out public without the USA, which will not fare well for the USD.
The CABAL has run out of times to stall this whole deal. We are in a 72 hour window that the IMF will take the wheel from the USA.
This weekend CL and JL will meet in RENO, make an announcement, and the Prosp. Package groups will be facilitated in Reno.....we will then be in the banks as soon as next week.
Iraqi banks will be closed on the 29, 30, and the 1...so we will hopefully be able to exchange on Friday May 2........that’s y take on the situation anyways....
Meanwhile...The US continues to provoke Russia, to get a conflict started prior to this rollout, so they can save face, and not be blamed for the ignorant fiscal policy and charades they have played the past 40 years.......
They have their heads in the sand....and starting to turn on one another as the survival of the fittest....Good day Ya’ll
4-27-14 American Contractor: Just last week, the Iraq Ministry of Commerce announced that the Iraq government is preparing to enter the third round of negotiations for joining the World Trade Organization (WTO).
The meeting was held at the Ministry of Commerce building in the International Zone. The meeting was very productive. This was the pre-meeting before they meet with the WTO officials in the fall.
There are still some obstacles that the Iraqi’s have to take care of first before the meeting with the WTO.