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Jul 23, 2008

putting the Yated Ne'eman in cherem!

As you can see, the Yated Ne'eman is announcing the strengthening of the dollar against the shekel to a rate of 3.427.

Considering that the yated has advertised over the past few months that the Rabbonim have set the exchange rate at 4 shekel to the dollar, this latest announcement leaves me to believe in one of two things:
  1. The Yated Ne'eman is clearly speaking against the Rabbonim. I do not know from where they have the chutzpah to put their opinion in places where the gedolim have already spoken, and yet to argue with them!
  2. The Yated is indicating that there is a secular dollar and a Haredi dollar. While they do not specify that, it seems this notice would be referring to the secular dollar, and not the Haredi dollar.

I find option #2 hard to believe. If it were true, Yated would clearly speak out the difference between Haredi and secular, not leaving it to the imagination of its readers. So, I am only left with option #1 and therefore I must demand that the gedolim declare the Yated in cherem for their brashness in opposing the gedolim..


  1. I am sorry, can you explain what you are talking about? The rabbis declared the dollar exchange rate @ 4? What does that mean?

  2. Yated has advertised extensively for the tzedaka organizations (one example can be seen here by The Jewish Worker, who has blogged numerous times about it) that the gedolim have established the exchange rate to remain frozen at 4-1.
    That means thei collections in dollars will be converted charged at an exchange rate of 4, regardless of the real exchange rate, and their payouts as well will be done at a rate of 4-1.

  3. Who will exchange for them dollars at a 4 to 1 rate? Cheerfully changed??

  4. don't know. But I would not mind changing some dollars with them if they will open up their own money changing business!

  5. It sounds like a farse. Rabbis are strong willed, but they cannot change economic realities.

  6. A lot of companies do similar things. Someone just told me that his company froze their exchange rate at 4.4. Obviously they are not changing people's money, but any charges they have, and any payments (salaries etc.), they process at 4.4.
    I have heard of it in other companies as well.

    Obviously if a donor says I will donate $100, and the tzedaka org says ok that will be 400NIS, if the donor says I will only pay 3.4 like the real rate, they cannot do anything about it. He can just lower his donation. But the payouts they control, and they probably raise money saying they pay their recipients at a rate of 4, enabling them to raise more money. perhaps.

  7. isn't the simple result a 15-20% reduction in payouts to the Israeli mendicants?

    Joel Rich

  8. This - like Blukes when he says similar things - is either a sad attemot at humor, or worse, shows a complete lack of understanding of a very simple issue.

    if anyone needs me to elaborate, please note that here and I will explain how this works.

    But no gedolim paskened that the dollar is 4, neither did they predict it will be 4 soon. There is no daas torah on how much a dollar is worth.

  9. feel free to explain for those who do not understand, but this post was humorous in nature.

  10. As to the businesses doing their exchange rate at 4, I had that with my lift. One of the fees was for $105, but then on the shekel side (which I had to pay) they had it at 420 shekel. I was a little surprised, and told them so. I said I'll be more than happy to pay you the $105, I have the dollars, why should I pay you an outdated rate. Unfortunately, they told me that they had no control over that fee, and I pretty much had no choice.

    But, if I get get a hold of one of those Rabbonim exchange rates, that would be a huge help to me!

  11. How can the Rabbis set the currency exchange rate? What happened to Israel since the last time I was there?

  12. "There is no daas torah on how much a dollar is worth."

    Or on anything else.


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