We Make it the Mighty Dollar - My Article at TheNews Blog

[AsifAmeer]

First off all, let me assure you that the "academia" is way over-rated.

This "fractional reserve lending" thing. Tell me, why should a Bank profit off from your savings and when they loose, your govt bails them out. Either way, you loose.

I am personally speaking, I do not have more than 3 months of cash. It is practical and effective. Choice is ours - freedom or death.

I read that artcile and it fails right on the first sentence.. "every one shud withdraw their cash".. thast not possible.... practcally or academically..because of fractional reserve banking... u may write economic solutions thats practical... not based on some fantasy.... like the whole recession was due to these weak derivatives sold over and over again... tat wud b more interesting.....

 

[AsifAmeer]

Mr. India, this article actually goes for India too. The mean reason why the EURO was created was to counter the Dollar. The Europe realized that they consume more than they produce, thus the failure of the Euro. Its high-time Asian countries put their heads together and kick out these "Viceroys to India".

Recently some kid asked me a silly question "Whatever happened to the East-India company?" I was pretty shaken by the 'silly' question. Its like we spotted a snake in the room and then we got busy in other stuff. Hours later, we realized we did see that snake in the room. Care to shed some light ?

Nice job(clap)

 

[AsifAmeer]

There is a term in Economics thats used to explain this complicated phenomenon. Its call "Kicking the can down the road" or "let someone else deal with this s" or "Who gives a F".. Something along that line.

But I am not an economist. Therefore I call it hyperinflation. It leads to scarcity, corruption, wipes out the middle class and causes alot of misery for the 99% of the population.

You are right about printing 3 bill a day. Do you know thats pure stealing? Plus it slows down trade.

Let me share something with you. I had a chance to talk to 2 MNAs. 1 MNA thought I was a member of RAW,CIA,BBC,PTV... Other was pretty frank with me and said "Asif sahab, even if i say this out in public, ppl would never understand this." Fact is, the public demands misery. Life demands drama. What I am arguing here is, if its Drama the Pakistani public wants, lets call it that then. This way next time when the public complains about the problems, we can remind them its that same drama they demanded.

Good discussion

Tell me do you see any value in introdicing a New Pak Rupee,which is valuedat say 100 old ones, That would pitch it with say the Euro in terms of exchange slightly above the dollar and below the pound.

It can serve two purposes, A lot of "Black Money" would have to be changed into the new currency through the banks, and maybe some explanations would be sought as to the sources.

Secondly, stability, at the moment, Pak prints Rs 3 Billion daily, the costs of doing that alone, daily must be enormous.

I believe Turkey most recently revalued its Lira from millions and billions to to single digit values

I am no expert on economics, so a view/opinion from you would be interesting

 

[Keepinformed]

I agree with Asif on this one. The country needs to create its worth for the products or services it produces. US dollar is the easiest to hold. The trick is to make your own currency stronger. After all that is the WHOLE point of it all.

What do we want our politicians to do? Increase the value of our currency! I also do not think its that much of a big deal for other countries to keep Pak Rupee reserves. They do it for other currencies too!

It is either that or you scratch Pak Ruppee and adopt US dollar as your currency e-g Pak Dollars.

You have to give strength to you own currency. You have to create its reserve demand both inside and outside pakistan. That is the only way to raise the standard of living of Pakistanis.

 

[AsifAmeer]

It is either that or you scratch Pak Ruppee and adopt US dollar as your currency e-g Pak Dollars.

Spoke like a trader! We tend to know when we'r gettin f'ed. Isnt it?

I agree with Asif on this one. The country needs to create its worth for the products or services it produces. US dollar is the easiest to hold. The trick is to make your own currency stronger. After all that is the WHOLE point of it all.

What do we want our politicians to do? Increase the value of our currency! I also do not think its that much of a big deal for other countries to keep Pak Rupee reserves. They do it for other currencies too!

It is either that or you scratch Pak Ruppee and adopt US dollar as your currency e-g Pak Dollars.

You have to give strength to you own currency. You have to create its reserve demand both inside and outside pakistan. That is the only way to raise the standard of living of Pakistanis.

 

[Keepinformed]

Spoke like a trader! We tend to know when we'r gettin f'ed. Isnt it?

Hehe. I mean we should adopt a clear policy. What do we want? We cannot kill our resources on one end and then expect miracles to happen. I agree with you on this one strongly. We need to make our paper worthy for what it is worth at least.

 

[AsifAmeer]

U know I can write a million issues and we can inform everyone and nothing would happen. This doesnt just go for Pakistan. It goes for US too. We have Ron Paul here talking about serious issues and Americans go "blah!"

Maybe there is room for Marxism in this world. I hope I m in my grave by then.

Hehe. I mean we should adopt a clear policy. What do we want? We cannot kill our resources on one end and then expect miracles to happen. I agree with you on this one strongly. We need to make our paper worthy for what it is worth at least.

 

[AsifAmeer]

Guys, this just came in. I will quote the news here







Iran buyers default on Indian rice payments:report
Feb. 7, 2012, 9:07 p.m. EST



By V. Phani Kumar

HONG KONG (MarketWatch) -- Iranian buyers have defaulted on payment for about 200,000 tons of rice from India, their top supplier, according to a Reuters report citing exporters and rice millers. The default, a sign of mounting pressure on Iran following sanctions from the West, prompted a call from the head of the All India Rice Exporters' Association to call on members to stop rice exports to Iran on credit, the report said. Meanwhile, Tehran has agreed to New Delhi's proposal to a payment mechanism that will allow India to pay for 45% of its imports from Iran in the Indian rupee, The Times of India reported. The change was made necessary by the likely disruption of the current mode of payment through a Turkish bank, the report added



Folks! Do you see that? Now Indian Rupee is being used like the reserve currency for Iran. I made a case that Pakistan exports be settled in Pak Rupee. If Iran can accept Indian Rupee for Oil, why cant Pakistan export food to Iran for Crude ? This can be done via swaplines even during the embargo!




tag: @Tutor @FaisalLatif @Kashi @compy @youngnights @Temojin @adnan_apml @gazoomartian @UKPakistani @Afsr @ajeeba @amgsls @AsifAmeer @azrana @Barbossa @biomat @brilTek @canadian @Cheeko @chitra @crankthskunk @deshdrohi123 @EniGma90 @eysonm @faiza @falcons @funkymonk @gazoomartian @GeoG @hawk eyed @indigo @jujuju @Justuju @Kavalier @Sadaf @Ali-NZ @cefspan @eysonm @falcons @Justuju @rafay1122 @MrEngineer @Alias @ealtaf @EniGma90 Pakistani1947 @Legend @omerkashmiri @moazzamniaz @maksyed

 

[UKPakistani]

Watching BBC, saw a report (BBC World News), Iran having real issues because of sanctions. Their currency has lost 50% plus against the dollar in few weeks.

Inflation is running rampant, people are buying Gold and the price is shooting up. Any company doing business with Iran is banned in the USA and then any one who trades with anyone doing so.

Ahmadinijad has been summoned to Parliament, so I think fair to say they are in crises

 

[gazoomartian]

U know I can write a million issues and we can inform everyone and nothing would happen. This doesnt just go for Pakistan. It goes for US too. We have Ron Paul here talking about serious issues and Americans go "blah!"

Maybe there is room for Marxism in this world. I hope I m in my grave by then.

No offense meant. Americans are strange people

 

[gazoomartian]

Watching BBC, saw a report (BBC World News), Iran having real issues because of sanctions. Their currency has lost 50% plus against the dollar in few weeks.

Inflation is running rampant, people are buying Gold and the price is shooting up. Any company doing business with Iran is banned in the USA and then any one who trades with anyone doing so.

Ahmadinijad has been summoned to Parliament, so I think fair to say they are in crises

my heart bleeds for Iran

 

[rafay1122]

Watching BBC, saw a report (BBC World News), Iran having real issues because of sanctions. Their currency has lost 50% plus against the dollar in few weeks.

Inflation is running rampant, people are buying Gold and the price is shooting up. Any company doing business with Iran is banned in the USA and then any one who trades with anyone doing so.

Ahmadinijad has been summoned to Parliament, so I think fair to say they are in crises

there might b issues...buts its BBC mannn...chilllllll....the most unreliable news channel... x

 

[adnan_younus]

tat was my basic point... because iran defaulted which triggred india to dictate its terms.... otherwise iran wudnt really want indian rupees ....

and then india is a major player in world economics... in few years time it wil start dictating its terms .... only pakistan is a hurdle for india to gain total south asian supremacy.....

abt yr question.. uncle sam and saudis will say NO to paksitan... and pksitan will bow down....

as for india.. its really standing on their feet and starting to dictate its terms.. every country want to do business with india....

so first raise paksitan to a level it can look eye to eye in terms of economy and self reliance....and then we may do this

Guys, this just came in. I will quote the news here







Iran buyers default on Indian rice payments:report
Feb. 7, 2012, 9:07 p.m. EST



By V. Phani Kumar

HONG KONG (MarketWatch) -- Iranian buyers have defaulted on payment for about 200,000 tons of rice from India, their top supplier, according to a Reuters report citing exporters and rice millers. The default, a sign of mounting pressure on Iran following sanctions from the West, prompted a call from the head of the All India Rice Exporters' Association to call on members to stop rice exports to Iran on credit, the report said. Meanwhile, Tehran has agreed to New Delhi's proposal to a payment mechanism that will allow India to pay for 45% of its imports from Iran in the Indian rupee, The Times of India reported. The change was made necessary by the likely disruption of the current mode of payment through a Turkish bank, the report added



Folks! Do you see that? Now Indian Rupee is being used like the reserve currency for Iran. I made a case that Pakistan exports be settled in Pak Rupee. If Iran can accept Indian Rupee for Oil, why cant Pakistan export food to Iran for Crude ? This can be done via swaplines even during the embargo!




tag: @Tutor @FaisalLatif @Kashi @compy @youngnights @Temojin @adnan_apml @gazoomartian @UKPakistani @Afsr @ajeeba @amgsls @AsifAmeer @azrana @Barbossa @biomat @brilTek @canadian @Cheeko @chitra @crankthskunk @deshdrohi123 @EniGma90 @eysonm @faiza @falcons @funkymonk @gazoomartian @GeoG @hawk eyed @indigo @jujuju @Justuju @Kavalier @Sadaf @Ali-NZ @cefspan @eysonm @falcons @Justuju @rafay1122 @MrEngineer @Alias @ealtaf @EniGma90 Pakistani1947 @Legend @omerkashmiri @moazzamniaz @maksyed

 

[AsifAmeer]

Its not just American people.

No offense meant. Americans are strange people

 

[AsifAmeer]

I do expect this to happen with Pakistan but in a systematic way (i.e. not an overnight event)

Watching BBC, saw a report (BBC World News), Iran having real issues because of sanctions. Their currency has lost 50% plus against the dollar in few weeks.

Inflation is running rampant, people are buying Gold and the price is shooting up. Any company doing business with Iran is banned in the USA and then any one who trades with anyone doing so.

Ahmadinijad has been summoned to Parliament, so I think fair to say they are in crises

 

[AsifAmeer]

BBC unreliable? You should watch EXPRESS NEWS CHANNEL from Pakistan. Its worse than Jerry Springer

there might b issues...buts its BBC mannn...chilllllll....the most unreliable news channel... x

 

[AsifAmeer]

Here is what I would do. Not pick a fight with the West. I wont change any terms with the west. But slow down the exports and divert them to Energy exporting countries like Russia and Iran. Ask them to settle PAKISTAN EXPORT payments in PAK Rupee. Art of war baby.. Art of Economic War! "ALL WARFARE IS BASED ON DECEPTION"

tat was my basic point... because iran defaulted which triggred india to dictate its terms.... otherwise iran wudnt really want indian rupees ....

and then india is a major player in world economics... in few years time it wil start dictating its terms .... only pakistan is a hurdle for india to gain total south asian supremacy.....

abt yr question.. uncle sam and saudis will say NO to paksitan... and pksitan will bow down....

as for india.. its really standing on their feet and starting to dictate its terms.. every country want to do business with india....

so first raise paksitan to a level it can look eye to eye in terms of economy and self reliance....and then we may do this

 

[Temojin]

India is doing everything in its powers to actually become a real economic power in this region (which in a way it already is) and this step indicates that if in the near future it is decided that each region should have its own foreign exchange policy and they should appoint their own reserve kind of a standard, india wants it to be the indian rupee. Now I am a patriot yet I am sorry to say that mates here stating that Pakistan is a hurdle in its way are again believing in something that doesn't actually exist to much extent. The very first reason for it is our officials being adamant enough not to take steps forward and do a single thing about our economy or prosperity and the second one is that india has already established itself as an economic power in this region and it is already past the phase of being just a market. The real contender is China here (and that too if China is willing to compete india as it has another front which is far larger than this one.

Another aspect being that despite our "beliefs" iran has the best of ties with india and doesn't look at us as anything but a problem in the region which should be "solved". We should try this with China and Russia who are already more than willing to do so yet nobody knows when this time will come.

This is the real war Asif is talking about here and even if we exist despite not realizing the gravity of it, imagine the state of a family (living in a street) which borrows everything from water to commodities from its neighbours on a daily basis and has nothing to offer in return but to send its sons and daughters to work as servants in the neighbouring homes while they are molested, treated badly and the boundaries of that home are invaded every now and then for the same purposes first secretly and then openly but they can't do anything about it but to look at the guns inside that big trunk time and again only (knowing that they can't eradicate all the families in that street, at most one or two and the others will eat them alive). Now think hard, isn't it already happening to some extent???

 

[gazoomartian]

Its not just American people.

in most cases

 

[A.Ali.T]

Little over ten years ago there were seven countries whose central banks were not under control of international bankers. Since then three have fallen, Afghanistan, Iraq and Libya. Did you notice that within weeks the Libyan rebels established their own central bank. Having said this, let me assure you if Pakistan tries to be smart and start accepting PKR instead USD, economic sanctions will cut the value of PKR in half before you can realize what hit you, like it's happening to Iran Riyal.

Asif Ameer, what you are saying is all true but it is not doable in todays world. In todays world what Adnan_apml is saying is more true, Saudi Arabia will never accept credit from any other country other than USD for oil, because they are the gurantor of keeping the USD as world reserve currency. So in other words any country that has any power to change the status of USD is Saudi Arabia. Thats just my opinion.