Comrades: According to the currency converter table, The Gambian Dalasi continues to decline in value since the overthrow of an elected Government of The Gambia. Please read the following excerpts: INDEX YEAR 1994 FXConverter - 164 Currency Converter Results Friday, July 22, 1994 1 British Pound = 14.87899 Gambian Dalasi 1 Gambian Dalasi (GMD) = 0.06721 British Pound (GBP) Median price was 14.56853 / 14.87899 (bid/ask). Estimated price based on daily US dollar rates. DECEMBER 31, 1994 FXConverter - 164 Currency Converter Results Saturday, December 31, 1994 1 British Pound = 15.33063 Gambian Dalasi 1 Gambian Dalasi (GMD) = 0.06523 British Pound (GBP) Median price was 15.00960 / 15.33063 (bid/ask). Estimated price based on daily US dollar rates. DECEMBER 31, 1995 FXConverter - 164 Currency Converter Results Sunday, December 31, 1995 1 British Pound = 15.44518 Gambian Dalasi 1 Gambian Dalasi (GMD) = 0.06475 British Pound (GBP) Median price was 15.11347 / 15.44518 (bid/ask). Estimated price based on daily US dollar rates. DECEMBER 31, 1996 FXConverter - 164 Currency Converter Results Tuesday, December 31, 1996 1 British Pound = 17.15948 Gambian Dalasi 1 Gambian Dalasi (GMD) = 0.05828 British Pound (GBP) Median price was 17.01973 / 17.15948 (bid/ask). Estimated price based on daily US dollar rates DECEMBER 31, 1997 FXConverter - 164 Currency Converter Results Wednesday, December 31, 1997 1 British Pound = 17.41278 Gambian Dalasi 1 Gambian Dalasi (GMD) = 0.05743 British Pound (GBP) Median price was 17.13736 / 17.41278 (bid/ask). Estimated price based on daily US dollar rates. DECEMBER 31, 1998 FXConverter - 164 Currency Converter Results Thursday, December 31, 1998 1 British Pound = 18.76895 Gambian Dalasi 1 Gambian Dalasi (GMD) = 0.05328 British Pound (GBP) Median price was 18.32864 / 18.76895 (bid/ask). Estimated price based on daily US dollar rates. DECEMBER 31, 1999 FXConverter - 164 Currency Converter Results Friday, December 31, 1999 1 British Pound = 19.24849 Gambian Dalasi 1 Gambian Dalasi (GMD) = 0.05195 British Pound (GBP) Median price was 18.18585 / 19.24849 (bid/ask). Estimated price based on daily US dollar rates. DECEMBER 31, 2000 FXConverter - 164 Currency Converter Results Sunday, December 31, 2000 1 British Pound = 23.59730 Gambian Dalasi 1 Gambian Dalasi (GMD) = 0.04238 British Pound (GBP) Median price was 22.53977 / 23.59730 (bid/ask). Estimated price based on daily US dollar rates. APRIL 10, 2001 1 British Pound = 22.32340 On the eve of the overthrow of the legal Government of The Gambia, The Gambian Dalasi rated D14.88.75 to 1.00 Pound Sterling. At fiscal year end December 31, 1994, The Gambian Dalasi rated D15.33 to 1.00 Pound Sterling, which represented 3.02 percent increase. For fiscal year ending December 31, 1995, the dalasi's value decreased by 57 bututs, which represented a 3.98 percent increase compared to index year 1994. The dalasi's value decreased as of fiscal year December 31, 1996 by D2.28, which represented a 15.33 percent increase from the index year of 1994. For December 31, 1997, the Dalasi's value against the British Pound decreased by D2.53 from index year closing, which represented a 17 percent increase. At December 31, 1998, the value of The Gambian Dalasi decreased by D3.88, representing an increase of 26.08 percent. My research revealed that at December 31, 1999, The Gambian dalasi decreased in value to The British Pound at D4.37, which represented an increase of 29.86 percent as compared to index year of 1994. The most terrifying devaluation was in fiscal year 2000, when The Gambian Dalasi decreased by D8.72, which represented an increase of 58.86 percent as compared to index year. Finally, The Gambian Dalasi as of Friday April 10, 2001 reduced in value against the Pound Sterling by D7.44, which represented a 50 percent increase as compared to index year 1994, though The Gambian Dalasi rosed by D1.28 , resulting in a slight decrease of 8.86 percent as compared to fiscal year end 2000. Comrades, I made my research on the basis that The Gambian Dalasi is decreasing in value against The British Pound. The Gambia does not export any major product, and its groundnut trade has been seriously damaged by the efficient administration of the military junta. As we speak, the illegal government of the day owes numerous Gambian farmers over D3 million. The irony of the whole thing is that The Gambian dictator is donating tractors to rural farmers without giving them resources to plough their crops with. The reason for these donations is simply politics. The dictator yahya thinks that the tractor politics will pay enough dividends for him to steal the presidential elections slated for October 2001. Another irresponsibility by The Gambian dictator is his continuous donation of tens of thousands of Dalasis to social organizations, the source of which cannot be substantiated by him. Remember this dictator had less than D5.00 in his pocket when he overthrew a popularly elected government. He is apparently using the funds of The Central Bank as his own. This irresponsible act is very disturbing. We in the opposition must provide issues to debate the so-called appointed agents of destruction. By endeavoring and researching we will be able to find enough ammunition to derail the moron of kaninlai. Please understand that when a domestic currency increases in amount against an international currency, it is said to have decreased in value because it takes more of that currency to purchase a single international currency which remains constant in value. Also a decrease in value of a domestic currency will result in an increase in percentage configuration as compared to index year. It is applicable to use 1994 as a base year for The Gambia, since a new illegal republic came into existence. It is also true that valuation can result in an increase in value for The Gambian Dalasi when comparing previous and present fiscal year ends. In my research The Gambian Dalasi increased in value against the Pound Sterling only on one occassion, which was Tuesday April 10, 2001. In conservative financial reporting, an accountant would be very careful in attesting the significance of that increase. This increase I will admit is not minimal, but substantial, though The Gambian Dalasi has lost 50 percent of its value to the British Pound. A Gambian civil servant employed as a managing director making D44,000 has seen his/her purchasing power decreased by 3.02% to 50% in terms of the British Pound. Please read the following table: Date Gambian D. Yearly(B.Pound) Monthly(B.Pound) 7/22/94 D44,000 2,956.99 246.42 12/31/94 44,000 2,870.19 239.18 12/31/95 44,000 2,847.90 237.33 12/31/96 44,000 2,564.10 213.68 12/31/97 44,000 2,527.28 210.61 12/31/98 44,000 2,344.17 195.35 12/31/99 44,000 2,285.71 190.48 12/31/00 44,000 1,864.41 155.37 04/06/01 44,000 1,971.32 164.28 I know some would say but the salary of a managing director did not stay constant from your index year to the last reporting period. My answer is that even if the managing director had a liberal increase of 10% per annum, which I think is irresponsible, especially in a non-for-profit public service sector, the adjustment will be minimal. It is disturbing that the illegal government of the day takes pride in developments when in fact it is engaging in destructive economic behavior. How can a managing director live on a monthly salary of 164.28 British Pound Sterling down from a high of 246.42, which represented a 50 Percentange decrease. For a principle dear to any Gambian, this dictator must go. Moron yahya has enriched himself at the expense of The Gambian people. It is our responsibility to regroup and free our country from a government that has killed, stolen, lied to its citizens and continues to deny our rights to political democracy. My prediction is that with the trend of things in The Gambian, and The Gambian finance minister's apparent inflation of budgetary figures, The Gambian Dalasi will decrease in value as of fiscal year end December 31, 2001. As a promise to Brother Sowe, I will be making a rating of The Gambian Dalasi against the German Mark in my next illustration. Naphiyo, Comrade ML Jassey-Conteh NB: My mother's last name is Jassey, and thus I am qualified to use it in my salutation. I am not using any fake names. I am from Faraba Banta, Kombo East District. I now live in Greensboro, North Carolina. ---------------------------------------------------------------------------- To unsubscribe/subscribe or view archives of postings, go to the Gambia-L Web interface at: http://maelstrom.stjohns.edu/archives/gambia-l.html You may also send subscription requests to [log in to unmask] if you have problems accessing the web interface and remember to write your full name and e-mail address. ----------------------------------------------------------------------------