European Stars and Stripes (Newspaper) - December 2, 1990, Darmstadt, Hesse                                Page 14 the stars and stripes sunday december 2,1990 business news it pays to own Baghdad Iraq apr the Dollar that hated and admired Symbol of american Power is the currency of Choice on the streets of Baghdad where . Sanctions have rattled an already shaky iraqi Economy. In Ever increasing numbers iraqis approach foreigners risking lengthy prison sentences to buy dollars at Black Market rates which have almost doubled in three months. At the same time some merchants play the danger Ous game of asking customers to give them something other than the hew 25-Dinar notes bearing the likeness of president Saddam Hussein. Western diplomats suggest the trend reflects a fear that the Dinar could lose its value if Saddam is toppled in a coup or by a  attack. A the common Man is concerned about his future and the future of his family. He recognizes the possibility that Saddam might fail and places his bets accordingly said one asian Diplomat who spoke on condition of anonymity. At official iraqi rates one iraqi Dinar is Worth $3. But on the streets of Baghdad one Dollar can buy five iraqi dinars and in some outlying areas the going rate is reportedly six or seven dinars. R a tips a Dollar Economy a said one european Diplomat also speaking on condition of anonymity a there Isnit. Much you can to buy with dollars. You can buy your Way out of the country or you can buy your Way out of the  a. V. A. A a a a a one Western Diplomat said some major figures in the iraqi business world Are turning vast amounts of their assets into Cash a and turning that Cash into dollars. A the weakness of the Dinar is not linked to the weak. A Ness of the government but to the weakness of the Economy. The dinars a paper currency based on Oil. And Oil is not being sold a the asian Diplomat said. Before iraqis aug. 2 invasion it of Kuwait and the subsequent , embargo the country earned More than -95 percent of its foreign Exchange from Oil exports. A sanctions Are already hurting. On that i have no doubts a the asian Diplomat said. A almost the entire Industrial sector has either ground to a halt or is chugging along very  shortages of spare parts imported raw materials and foreign technical expertise have left much of Iraq s Industry running at Only a maintenance level Western diplomats said prices on everything from cigarettes to tires Are soaring in the marketplace. Cigarettes that just three months ago Cost one third of a Dinar now Cost 3.50 dinars. Tires now Cost 300 dinars each or $900 at the official rate. A the level of frustration on the Street is amazing. Everyone in the country has his life on hold a said one european Diplomat. Food is still in abundant Supply in Iraq much of it smuggled in from Iran or looted from Kuwait. Store shelves overflow with consumer goods and delicacies in kuwaiti packaging. Despite official iraqi complaints about shortages of medicines doctors in Baghdad say there a no problem with supplies. Western diplomats suggest iraqi attempts to acquire More Medicine in Exchange for hostages is an attempt to bolster stockpiles for War. Last week the government announced it will impose the death sentence on people convicted of hoarding food. A o a a a a. Some diplomats believe it is aimed mainly at discouraging Large scale smuggling. Others believe the Golem ment itself is heavily involved in smuggling and simply wants to exercise More control on consumption distribution and profiteering. Western and asian diplomats say they cannot accurately assess How Long Iraq can hold out under the pressure of sanctions alone. T. A i done to think one can set a time limit a said one asian Diplomat. A you have to take into account the Way this society functions. A there s no Way for the people to express their unhappiness with the government. But on the other hand Saddam Hussein and the leadership All realize that they can push the people Only so far a he added one Western Diplomat was More Blunt in his assessment of the sanctions. A a they la not work in time to avoid War a he said. A v a a v a him americans with credit cards owe to tune of $200 billion a Washington up a americans Are carrying Over $200 billion in credit card debt and Many May risk pushing themselves Over the financial Edge during the Holiday shopping season a National consumer group warns. A v. A during the 1980s, lenders changed from loan order takers to aggressive marketers of credit a said. Elgie Holstein director of bankcard holders of America a consumer credit Protection group a and Consumers threw caution to the wind by taking on More and More debt a the current american credit card debt of $200 billion is nearly three times As High As the $80 billion citizens carried in 1980.a household budgets Are threatened by High credit card debt a fact usually disguised because most credit card issuers require their cardholders to pay each month Only 3 or 4 percent of the total amount they owe a Holstein said. A High interest rates combined with Low minimum monthly payments Means it can take years to pay off a credit card  worlds most expensive cities below is a list of some of the world s most expensive cities followed by their rating based on new York City 100. The Index is based on a Basket of 151 products including food clothing recreation transportation and other selected items. Housing costs Are excluded. .v.vv.\v. A . .v.�.y.�?T.-.v.-.y.-.1.1v.-.v. .�?o.v. Tokyo 170 worlds most expensive Oslo Norway 144helsinki Finland 141. Zurich Switzerland 136 Geneva Switzerland 135 Stockholm Sweden 135 Copenhagen Denmark 131 t Paris France 120 London England 118 \ r Taipei Taiwan 118brussels Belgium 116 Rome Italy 113. Berlin Germany 110 Munich Germany 109 Frankfurt Germany 106 Amsterdam Netherlands 102 new York 100 Leipzig Germany 99 Budapest Hung in 71.prague Czechoslovakia 56 source corporate resources groups amps graphic a stars and stripes co. Bookstore stars and stripes bookstores Calvin and Hobbes i Are Back and they re i fun River than Ever a �4 30 to the authoritative Calvin and Hobbes is the amp latest collection of gut busting humor 5 from creator Bill Watterson. Here you la find Calvin As stupendous Man and Jav spaceman spiff also Calvin the terrible tyrannosaurus the human Slinky the 03 human Light particle the x387 robot probe from Jupiter and the ugh Bug. O a a. A a a a a a a a a a a. A a a. A a a a. 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