Wednesday, November 14, 2007

HW 34: The significance of Gold

After reading Riverbends blogs I have learned that gold plays a significant role in family savings in Iraq. The people in Iraq do not own gold for superficial reasons or because they are extremely wealthy. In Iraq gold is not considered to be a materialistic belonging, instead it maintains a deeper meaning. Gold is a significant part of Iraqi culture and plays an important role in family savings. The role of gold began years ago in 1990 when Iraqi Dinar began to significantly fluctuate. Due to this fluctuation Iraqi people decided that it would be much safer and smarter to convert their money into gold considering the fact that the value of gold did not change. Before the war they took their money out of the banks and used it to buy gold. They purchased gold in a variety of forms such as necklaces, bracelets, and earrings. Gold is cherished by the family and is only sold in small portion if it is necessary for the survival of the family. Also gold is an important part of their culture in the institution of marriage. When they get married the man gives the women a “mahar” also known as a dowry which is made of gold jewelry and when they married couple has a baby they are given gift of little gold trinkets. This proves that gold plays an important role and obtains great significance to the people in Iraq.

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