moonbeams Posted April 8, 2011 Share Posted April 8, 2011 Dear all the wonderful labels and individuals who are raising money to help Japan, According to a recent report from the World Bank, total damage costs are expected to reach between 2.5 percent and 4 percent of Japan's gross domestic product (GDP), putting expenditure in the range of $122 billion to $235 billion. Private insurance is projected to cover between $14 billion and $33 billion of the expense, while the Japanese government is expected to spend at least $12 billion from its current budget on reconstruction and "much more" from the budget in fiscal year 2011. The damage is so vast that money will be needed for months, possibly years. As of now, the yen is so high that if you send your money, $100 out of every $500 will disappear in the exchange conversion. While I commend you for raising funds to help the people of northern Japan out, I highly recommend holding onto the money until the yen is depreciated. Otherwise, 20% of it is just thrown away. Thank you for doing this for us. -Moonbeams Quote Link to comment Share on other sites More sharing options...
xlovecolouredx Posted April 8, 2011 Share Posted April 8, 2011 buddha bless japan.... Quote Link to comment Share on other sites More sharing options...
flood Posted April 8, 2011 Share Posted April 8, 2011 you should forward this to Mike Park Quote Link to comment Share on other sites More sharing options...
cadetapplesauce Posted April 9, 2011 Share Posted April 9, 2011 mike told me that so far, we raised about half of what his goal was... i'll double check and i'll pass the word along. Quote Link to comment Share on other sites More sharing options...
topshelfsquad Posted April 11, 2011 Share Posted April 11, 2011 http://ordinarydays.jp Quote Link to comment Share on other sites More sharing options...
tokyochaser Posted April 11, 2011 Share Posted April 11, 2011 The problem is that the US economy is so messed up the exchange rate isn't going to return to 100 yen per 1 dollar anytime soon. We are lucky that it has gone from 79 yen per 1 dollar to 85 yen to 1 dollar...so the idea of 20% lost has dropped to a loss of 15%. But that idea is also antiquated because the 100 yen per 1 dollar exchange rate has not occurred in over a year (actually 2-3 years since it has ever AVERAGED a whole month of being 100 yen for a dollar). So no, $100 will not be lost per $500. Quote Link to comment Share on other sites More sharing options...
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