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: Friday, July 22, 1994 I chose as an index. 1 US Dollar = 9.75000 Gambian Dalasi 1 Gambian Dalasi (GMD) = 0.10256 US Dollar (USD) Median price was 9.55000 / 9.75000 (bid/ask). Minimum price was 9.55000 / 9.75000 Maximum price was 9.55000 / 9.75000 Computed from a sample of 1 price on Friday, July 22, 1994 Rate for next day FXConverter - 164 Currency Converter Results Saturday, December 31, 1994 1 US Dollar = 9.80000 Gambian Dalasi 1 Gambian Dalasi (GMD) = 0.10204 US Dollar (USD) Median price was 9.60000 / 9.80000 (bid/ask). Minimum price was 9.60000 / 9.80000 Maximum price was 9.60000 / 9.80000 Computed from a sample of 1 price on Friday, December 16, 1994 Rate for next day Sunday, December 31, 1995 1 US Dollar = 9.95500 Gambian Dalasi 1 Gambian Dalasi (GMD) = 0.10045 US Dollar (USD) Median price was 9.75000 / 9.95500 (bid/ask). Minimum price was 9.75000 / 9.95500 Maximum price was 9.75000 / 9.95500 Computed from a sample of 1 price on Saturday, December 30, 1995 Tuesday, December 31, 1996 1 US Dollar = 10.09500 Gambian Dalasi 1 Gambian Dalasi (GMD) = 0.09906 US Dollar (USD) Median price was 10.01750 / 10.09500 (bid/ask). Minimum price was 10.01750 / 10.09500 Maximum price was 10.01750 / 10.09500 Computed from a sample of 1 price on Friday, December 27, 1996 Wednesday, December 31, 1997 1 US Dollar = 10.55000 Gambian Dalasi 1 Gambian Dalasi (GMD) = 0.09479 US Dollar (USD) Median price was 10.38880 / 10.55000 (bid/ask). Minimum price was 10.38880 / 10.55000 Maximum price was 10.38880 / 10.55000 Computed from a sample of 1 price on Tuesday, December 23, 1997 Thursday, December 31, 1998 1 US Dollar = 11.31000 Gambian Dalasi 1 Gambian Dalasi (GMD) = 0.08842 US Dollar (USD) Median price was 11.05000 / 11.31000 (bid/ask). Minimum price was 11.05000 / 11.31000 Maximum price was 11.05000 / 11.31000 Computed from a sample of 1 price on Tuesday, December 29, 1998 Friday, December 31, 1999 1 US Dollar = 11.90000 Gambian Dalasi 1 Gambian Dalasi (GMD) = 0.08403 US Dollar (USD) Median price was 11.25000 / 11.90000 (bid/ask). Minimum price was 11.25000 / 11.90000 Maximum price was 11.25000 / 11.90000 Sunday, December 31, 2000 1 US Dollar = 15.80000 Gambian Dalasi 1 Gambian Dalasi (GMD) = 0.06329 US Dollar (USD) Median price was 15.10000 / 15.80000 (bid/ask). Minimum price was 14.75000 / 15.80000 Maximum price was 15.10000 / 15.80000 Friday, April 6, 2001 1 US Dollar = 15.45000 Gambian Dalasi 1 Gambian Dalasi (GMD) = 0.06472 US Dollar (USD) Median price was 15.15000 / 15.45000 (bid/ask). Minimum price was 15.00000 / 15.45000 Maximum price was 15.15000 / 15.50000 On the eve of the overthrow of the legal Government of The Gambia, The Gambian Dalasi rated D9.75 to $1.00. At fiscal year end December 31, 1994, The Gambian Dalasi rated D9.80 to $1.00, which represented less than 1 percent increase. For fiscal year ending December 31, 1995, the dalasi's value decreased by 15 bututs, which represented a 2 percent increase compared to index year 1994. The dalasi's value decreased as of fiscal year December 31, 1996 by 30 bututs, which represented a 4 percent increase from the index year of 1994. For December 31, 1997, the Dalasi's value against the US Dollar decreased by 75 bututs from index year closing, which represented an 8 percent increase. At December 31, 1998, the value of The Gambian Dalasi decreased by D1.51, representing an increase of 16 percent. My research revealed that at December 31, 1999, The Gambian dalasi decreased in value to The American Dollar at D2.10, which represented an increase of 22 percent as compared to index year of 1994. The most terrifying devaluation was in fiscal year 2000, when The Gambian Dalasi decreased by D6.00, which represented an increase of 62 percent as compared to index year. Finally, The Gambian Dalasi as of Friday April 6, 2001 reduced in value against the US Dollar by D5.20, which represented a 58 percent increase as compared to index year 1994, though The Gambian Dalasi rosed by 35 bututs, resulting in a slight decrease of 4 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 US Dollar. 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. Dictator yahya thinks that the tractor politics will pay enough dividends for him to steal the presidential elections slated for October 2001. 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 US Dollar only on one occassion, which was Friday April 6, 2001. In conservative financial reporting, an accountant would be very careful in attesting the significance of that increase, since it only reported a first quarter configuration. A Gambian civil servant employed as a managing director making D44,000 has seen his/her purchasing power decreased by 1% to 62% in terms of the US Dollar. Please read the following table: Date Gambian D. Yearly($) Monthly($) 7/22/94 D44,000 $4,512.82 $376.07 12/31/94 44,000 4,489.80 374.15 12/31/95 44,000 4,422.11 368.51 12/31/96 44,000 4,360.75 363.40 12/31/97 44,000 4,170.62 347.55 12/31/98 44,000 3,890.36 324.20 12/31/99 44,000 3,697.48 308.08 12/31/00 44,000 2,784.81 232.07 04/06/01 44,000 2,847.90 237.32 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 $232.07? 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. 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. ----------------------------------------------------------------------------